Artists can reach out directly to their admirers now. The staggering growth of crypto-collectibles is the reason. Importantly, there is a platform operating on the Ethereum blockchain that reduces the gap between creators and collectors. It is none other than Foundation. Operating as a Decentralized Autonomous Organization (DAO), its trading volume has surpassed $27.11 million. Are you that entrepreneur striving to be part of the metaverse? Create an NFT Auction Marketplace like Foundation.
The notable features of a White-label Foundation Clone are
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Integrated Wallets :
It is quite easy for content creators and buyers to process transactions on a white-label Foundation clone. The pre-built NFT marketplace solution has a plug-in to the MetaMask wallet. Besides that, users can click the WalletConnect open-source protocol. Thus, they can utilize other wallets like Argent, MathWallet, Rainbow, Pillar, ONTO, TokenPocket, Trust Wallet etc.
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Search collectibles panel :
Investors can bid for and own limited-edition crypto-collectibles by tapping the Search dashboard. They will receive a list of collections and profiles. Further, buyers can see details like the floor price in Ethereum (ETH), a description of the collection, and the number of art pieces available for sale. Users can also copy the link and share it across micro-blogging platforms and instant messaging apps.
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Trending Auctions :
NFT sales conducted by leading artists and celebrities are displayed under the Trending Auctions dashboard. Thus, buyers can see the rare artworks, the description of the virtual asset, the content identifier (CID) on the InterPlanetary File System (IPFS), the name of the creator, his/her collection, and the minted date.
Hence, investors must place a bid in Ethereum (ETH), link their software wallets and transfer the required amount to the artist before the end of the auction.
Is there transparency? Yes of course! The Provenance Section contains details about the time of listing, minting changes in reserve price, and the bid placement. Moreover, what happens after buyers win an auction? Data about the winner, the sales price in Ethereum (ETH) and US Dollar (USD), and the date and time is showcased.
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Filter and discover option :
Investors can pick the ultra-rare collectibles by tapping the Filter and Search panel. They can select options like date (minted, listed, newest, oldest) and price (highest to lowest), and ending (soonest to latest). Moreover, buyers can bid faster by checking the Available Section (All, Available, and Sold), Market Buyers can purchase authentic NFTs by clicking the View on Etherscan button. Thus, data about the token ID, number of transfers, social media accounts of artists, transaction hash, and the timestamp is shown.
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Help Centre :
Investors and artists can sort out glitches by contacting the technical support desk. They receive support for problems like account creation, linking of hot wallets, buying NFTs in the secondary market, splitting of royalties, organizing private sales, copyright infringement, upvoting of creators, and sharing of invites to other users.
Analyzing how Community Guidelines function on a Foundation like Marketplace?
- Creators, collectors, and investors can ensure a trustworthy relationship. They ought to abide by the community guidelines on the NFT marketplace similar to Foundation.
- Importantly, artists will know their legal rights (copyright infringement, intellectual property, and trademark protection). Thus, they have full freedom in distributing and reproducing their rare artwork.
- However, creators cannot upload the work of other artists. Moreover, they can mint and list related art pieces in a series. But, artists cannot create extra NFTs representing the same piece.
- What are the various options for NFT Collectors? They can own rare artwork, share the piece on instant messaging apps and social media platforms and also exhibit the artwork in a virtual space.
- Subsequently, buyers of NFTs can hold it for a certain period and later resell it on a secondary market. Thus, they can pocket a hefty profit.
- Nevertheless, collectors cannot share the artwork for commercial purposes, make unauthorized changes, create additional NFTs identical to the purchased artwork, and not claim any legal ownership.
How Decentralized Autonomous Organizations (DAOs) will determine the future of the creator economy?
- Artists get more opportunities for monetizing their content when they are part of a larger community.
- For instance, creators can start a fundraising campaign and encourage donors to contribute a certain amount.
- Generally, content creators will have a collective cause. Thus, contributors will know the values to support such as (freedom of expression, privacy, education, healthcare etc).
- For example, the Foundation NFT marketplace is assisting noble causes like collective ownership of collectibles, sharing of multi-signature wallets, preservation of historic artwork, equitable distribution of proceeds from the auction, creating tokens for governance rights, and storage of rare assets in vaults.
- Overall, the Foundation NFT marketplace is becoming the hub for multiple genres of content. It comprises photography, memes, Augmented Reality (AR), 3D technology, animation, music, generative artwork, and performative art.
What is the cost of creating an NFT Auction marketplace similar to Foundation?
- The tech stack (programming languages, web frameworks, integrated development environment (IDE) and smart contract auditing tools) used to develop the Foundation like NFT marketplace.
- Hourly/Weekly rates paid to the team of blockchain developers.
- Time devoted for creating the white-label NFT marketplace.
- Level of personalization required by entrepreneurs like you.
- Post-deployment services like the addition of new features, integration with software wallets, smart contract testing, and technical support.
The stats that reflect the consistent growth of the Foundation NFT Marketplace
- In the last 1 month, 11,730 users have processed 61640 peer-to-peer (P2P) transactions on the Foundation NFT trading platform.
- A whopping $702,740 has been locked in the Ethereum-based smart contracts of Foundation.
- The trading volume on the Foundation NFT marketplace has crossed $746,670 and $7.21 million in the last 24 hours and 7 days respectively.
- Sharing of invitations is the key factor that distinguishes the Foundation platform from others. Artists who sell an NFT can invite 2 new creators.
- Since the Foundation NFT marketplace is non-custodial, artists receive more revenue. Importantly, they get 85% of the total sale price directly to their digital wallet. Moreover, they pay a 15% service fee based on the final selling price of the digital artwork.
Wrapping Up
Do you want to change how artists sell their work? Connect with a white-label solution provider to develop an NFT auction marketplace like Foundation.
