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How much does it cost to create an NFT marketplace?

NFTs, or non-fungible tokens, have already made a huge impact on society. In the third quarter of 2021, the market capitalization of NFTs has already seen a massive increase of around 1785%. The extraordinary development benefits not only the owners of NFTs but also the NFT marketplace where they are conducted. For quite some time, the NFT marketplace and its development have been at the forefront of the discussion. So to understand the NFT marketplace in detail, let’s take a little deeper look at the cost of building it. 

What is the NFT marketplace concept?

An NFT marketplace is an online marketplace where high-value crypto collectibles are sold through auction. In this marketplace, creators sell their non-fungible virtual products, and buyers or investors purchase them using cryptocurrencies such as Bitcoin or Ether. Every time an NFT is purchased on the platform, the NFT marketplaces charge a fee. Upon purchase of an NFT, the buyer’s investor receives a token. The token in this case is a one-of-a-kind identification that includes proof of ownership as well as information about the creator, provenance, and authenticity. By placing bids in the auction that is being held, purchasers in an NFT marketplace can acquire a broad variety of artwork, gaming assets, fashion accessories, memes, and other items online. 

Cost of an NFT marketplace 

The cost of creating an NFT marketplace is determined by the amount of work necessary.  If you decide to build the app from the ground up in-house, the cost will be around $200-300K. It reduces costs, I will advise you to examine software outsourcing and combine it with ready-made solutions. You will undoubtedly save money if you join a software outsourcing company. It is easy. Starting your NFT marketplace with the well-known clone script would result in a far lesser expenditure that is affordable for startups and business owners. I can’t tell you the exact price but the cost of an NFT marketplace clone script with basic features starts from $5K but it can vary according to your business requirement and the modification you need. 


Where to get the best NFT marketplace clone script?


In my opinion, I can guarantee that WeAlwin Technologies is the leading NFT marketplace development company that can offer you the best NFT marketplace development solutions as per your business needs. You know, they will provide you best solutions for your business with budget-friendly and help you start your NFT business within a week. 


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