An Ultimate Guide To Art Tokenization Platform Development
December 27, 2022
The non-fungible tokens are the buzzword in the art world. Art creators worldwide use art tokenization platforms to convert their physical assets to non-fungible tokens. With tokenization of art becoming the new norm, they provide artists and creators an opportunity to be highly profitable.
The hype of art tokenization is increasing day by day. Artists and creators quickly turn to art tokenization platforms to convert digital work to NFTs and build their digital collections.
With the security of blockchain technology, these art tokenization platforms are grabbing the attention of art lovers and investors. Budding entrepreneurs are quick to capitalize on the current art tokenization market trend and invest in art tokenization platform development.
We are here for you if you plan to ride this new art tokenization market trend and launch your art tokenization marketplace. As a leading art tokenization platform development company, we offer the industry's best affordable development services to startups and enterprises. Reach out to us and share your project requirements to build a profitable art tokenization platform like OpenSea and Rarible.
Eager to move ahead with art tokenization platform development, this post will act as a development guide for you. Delve deep into the art tokenization - starting with the definition first.
What is Art Tokenization?
Earlier financial assets were limited to stocks, bonds, gold, cheques, securities, etc. But the introduction of blockchain technology has revolutionized the financial sector.
Creators from around the world are leveraging this new age technology to convert their physical assets into non-fungible tokens (NFTs). The process of conversion of physical assets to NFTs is known as tokenization.
After converting their physical assets to tokens, owners can easily trade them in the secondary market with greater transparency, security, and speed. These tokens diminish the need for users to have a minimum trading amount for entering the market.
According to Statista, the sales value of digital art and collectibles NFTs worldwide - is 11.16 billion US dollars. Art tokens are creating new hype in the investor world for various reasons. These are easy to audit, exchange, secure and transparent. All these reasons indicate why converting physical art to tokens is important.
For this reason, creators worldwide are investing in art tokenization and breaking the geographical barriers to showcase their artwork to the world. With the security of blockchain technology, the art tokenization has provided a great alternative to traditional, outdated methods.
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Enthralling Features of Our Art Tokenization Platform
This feature of our art tokenization marketplace allows users to view all the important information about assets, such as owners, bids, value, and more.
Soon after the users have created their account on the platform, they have to continue with the KYC/AML procedure by submitting the necessary documents & filling in the required details.
Advanced Search Filters
This feature allows users to easily find the NFT art they want by typing the name, category, and other advanced filters. Our art tokenization platform deploys advanced search tools to boost client satisfaction.
This feature of our art tokenization platform is highly beneficial. Owners or admin can list an art NFT in a specific category making it easy for NFT investors to find digital art from a particular category.
Bid and Buy
Customers of art tokenization marketplace can use this feature to bid and buy digital assets on the marketplace. They can see the bid price, validity date, and other important information before bidding or buying an NFT.
Using this feature, digital art creators and artists can convert their art into non-fungible tokens by paying a fixed gas fee. After converting their digital art to NFTs, they can list them on the marketplace with details such as tags, titles, and descriptions.
Our art tokenization platform is integrated with a crypto wallet to make it easy for customers to buy, sell, trade, or receive art NFTs.
This feature of our art tokenization platform allows users to view the status of the art NFT after listing them with the platform. Only after passing the authentication and confirmation process an art NFT will be listed with the platform.
This feature of our art tokenization platform allows users to rate an NFT or artists based on their personal experience. NFT rating is a handy feature that allows users to check the credibility of an NFT artist.
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Foremost Benefits Of Art Tokenization Platform
Earlier buying or selling of financial assets takes time as both parties involved take time to know each other and what they are offering. In addition to this, the third parties involved, such as lawyers and banks, take time to process the deal and execute the transaction. However, the tokenized financial assets offer enhanced liquidity as there are no intermediaries, and blockchain offers security to buyers and sellers.
Artists and creators worldwide enjoy greater accessibility by tokenization of the art with blockchain security. With art tokenization platforms, users can easily convert digital art into non-fungible tokens with a minimum gas fee. Converting digital art to tokens allows creators to showcase their artwork to investors worldwide.
Gone are the days when it was an arduous task for an investor to verify the authenticity of art and get hold of the ownership record. However, with blockchain technology, things have started to change for art collectors. Tokenization of art makes it easy for creators to prove their ownership rights, and investors can view or verify complete history.
One of the biggest advantages of the blockchain is that stored data can’t be altered or deleted. Thus, when creators convert their digital collection into NFTs, they are assured that the assets can't be edited or deleted.
Elimination of Intermediaries
Art tokenization platforms deploy new-age tech tools such as smart contracts that are self-verifying and executing. With this, they eliminate the intermediaries within the system, making the entire process transparent and efficient.
Traditionally, transactions between both parties are time-consuming and involve intermediaries that cut down the profits. With the introduction of smart contracts, transactions have become faster and more cost-effective, yet another benefit of art tokenization.
Major Reasons To Launch Your Own Art Tokenization Marketplace
Ready to invest in art tokenization platform development? Here are a few major reasons worth considering with art tokenization marketplace like OpenSea, Rarible, and Axie marketplace.
With an art tokenization marketplace, you can provide a platform for art creators and collectors to securely transfer money without hassle. Users can also make payments with digital tokens for art collection.
The decentralized nature of the art tokenization marketplace makes it easy to store and distribute information. No one, not even the admin, can change the information stored within the network.
The blockchain-based art tokenization platform assists in creating a more transparent and secure ecosystem for users. Anyone within the network can access the transactions to create a transparent ecosystem.
We help you build an art tokenization platform based on your monetization model. Launch an art marketplace where users pay a fixed fee for listing NFTs or pay a commission from the selling price.
With integrated smart contracts in the art tokenization marketplace, art creators won’t have to worry about commission fees or royalties. Smart contracts are self-verifying and executing, making them completely secure from fraud.
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Our Wide Range of Blockchain Consultation Services Include
We provide free blockchain consultation to our clients where industry experts offer the best software solutions for their projects. Want to integrate blockchain within your business processes? Our expert team can make it happen for you.
Our wide range of blockchain services includes marketing services for our client projects. We market your newly developed blockchain business idea to reach your target audience and investors to help you grow.
We at RisingMax Inc. provide consultation services to boost your digital token sales. Our blockchain experts leverage their expertise and in-depth knowledge to help clients achieve desired results.
Connect with us to develop your blockchain projects, such as a crypto wallet, smart contract, NFT marketplace, or crypto exchange. Our blockchain development expertise includes Ethereum, Binance, Solana, Evalanche, EOS, Polygon, and other leading blockchains.
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Our team will devise a marketing strategy to assist you in creating a buzzword in the community. We help you reach and connect with potential investors to promote your blockchain project.
This is one of art tokenization marketplaces' most common revenue generation methods. A fixed listing fee is charged whenever an artist lists an art NFT with the platform.
Gas or Minting Fee
A gas or minting fee is charged from the artist when they convert their digital art to non-fungible tokens.
Art creators can organize a private sale where they can show exclusive content to genuine art investors. An art creator must pay a fixed fee to organize private art sales.
Art lovers or investors need to pay a fixed fee as a participant entry to bid on art NFTs. Admin can charge a fixed bidding fee or customize based on the value of the art available for bidding.
Art tokenization platforms can charge a fee on every successful transaction on the platform. Art tokenization platforms' most common revenue generation methods are charging a fixed processing fee.
Based on the business model of your art tokenization platform, you can choose any revenue generation method. Not sure which revenue generation method is best for your art tokenization platform? Connect with our experts to discuss possibilities.
How Much Does Art Tokenization Platform Development Costs?
The art tokenization platform development cost depends upon various factors that are:
Art platform complexity
Security and safety features
The geographic location of the development company
Per hour development charges
Scratch or Whitelabel art platform solution
Any additional features or services needed for the project
A careful analysis of all these factors is needed to know the development cost of an art tokenization platform. Scratch development of art tokenization platforms is considered a time-consuming and costly process. For this very reason, most startups and budding entrepreneurs test the waters with Whitelabel art tokenization platforms.
If you plan to launch an art tokenization marketplace with a white label solution, the development cost will be approx. $35000 to $55000. Whitelabel solutions are ready-made solutions that are functional replicas of popular art marketplaces like OpenSea and Rarible. These are tested multiple times, thus making them highly reliable, secure, and scalable.
On the other hand, if you choose the scratch development process. First, you must connect with a reliable art tokenization development company like RisingMax.Inc. and share your project tech needs.
Experts will share the approximate development cost of your project based on the tech requirements, platform features, UI/UX interface, user flow, and other platform features. The art tokenization platform development will cost you $100k or more depending on the abovementioned factors.
Why Choose RisingMax Inc. as Your Art Tokenization Platform Development Partner?
Our team at RisingMax.Inc. has been developing blockchain-based projects for more than six years now. With more than 100 projects successfully delivered, our development team assists startups and enterprises in leveraging blockchain technology and empowering their business.
We are privileged to work with clients worldwide in different verticals such as FinTech, Real estate, eCommerce, Supply chain, education, and more.
Here’s why you should choose RisingMax.Inc;
Unmatched Blockchain Development Services
Masters of Blockchain Technology
Experts in Leading Blockchain Technologies and development tools
Highly Secured Solutions
Rigorous Testing Methodologies
Transparent Pricing Policy
Affordable Whitelabel Solution
On-Time Project Delivery
24/7 Customer Support
Affordable Post Deployment Services
The popularity of non-fungible tokens is soaring day by day. With art tokenization platform development, you can leverage their popularity and launch a profitable business.
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