Metaverse NFTs let users easily trade in-game elements, digital assets, and avatars. Read the blog to know more about the NFT marketplace and its all aspects.

1. How to Create a Metaverse NFT Marketplace? A Definitive Guide
Description: Metaverse NFTs let users easily trade in-game elements, digital assets, and
avatars. Read the blog to know more about the NFT marketplace and its all aspects.
Today’s technologies are constantly moving towards the world of virtual space where you can
easily buy digital assets, communicate with each other, and explore new places without visiting
physically. All digital assets in the virtual world are available in the form of Non-Fungible Tokens
or NFTs that only exist on blockchain networks & can’t be replicated. Metaverse NFT aims to fill
the gaps between the real world and the virtual space with the help of virtual reality.
From e-commerce to gaming sectors, every industry has already started to enter the world of
Metaverse NFT to help users explore different products & services with a three-dimensional
impressive virtual experience. According to metaverse development company, the metaverse
NFT marketplace takes the virtual reality (VR) experience to another level, enabling users to
emerge into the world of metaverse to do different activities. Continue reading to know what
Metaverse NFT is and how to build it.
What is a metaverse NFT marketplace?

2. NFT marketplace is a unique concept of developing & integrating virtual marketplaces in the
metaverse space. Metaverse NFT marketplace allows users to trade digital lands, in-game
elements & avatars. Despite being in its very early phases, Metaverse NFT is presently gaining
good traction & effectively driving businesses to build a marketplace.
To make trading streamlined, businesses should create a feature-rich marketplace & integrate it
into the different projects of Metaverse. As the NFT Marketplace is developed on the
blockchain ecosystem, it offers a completely decentralized experience to the active users and
allows them to tokenize digital assets & trade them seamlessly.
Metaverse makes NFTs simpler to use as well as more valuable. It also brings transparency to
NFT trading. NFT adoption has started increasing gradually & effectively fueling the growth of
NFT platforms. According to the current report, Metaverse NFTs account for 3% of the entire
market value. Moreover, it’s also predicted that the economic projection of the Metaverse
could reach approx 800 billion by 2025.
Features of a Metaverse NFT marketplace

3. Before you start the NFT marketplace development, you need to know its features and
functionalities. The following are widely popular features that make NFT marketplace robust
and future-ready.
1. Storefront: The NFT marketplace is quite similar to the eCommerce shopping platforms.
Hence, it should offer an intuitive and attractive storefront that offers a vast range of options to
the users such as NFT ownership details, item list, price history, preview, etc. It helps users
instantly verify and check digital assets’ authenticity before making a purchase.
2. Decentralization: The NFT marketplace has a decentralized infrastructure and this
infrastructure removes the necessity for all intermediaries during the trade and settlement
process. Decentralized infrastructure means it doesn’t have any owner and it’s completely
regulated by blockchain technology where events are executed automatically via smart
contracts. Hence, decentralized features of the NFT marketplace offer a controlled, secured,
and private platform & allow transaction mobility without third-party control.
3. Interoperability: Interoperability usually equips an NFT marketplace with cross-chain
connectivity and it helps decentralized systems share data, enable cross-chain connections,
interact & utilize each other's features, etc. Interoperability is important as it builds
interconnections among independent marketplaces and offers a unified experience to the
users. Moreover, it also allows users to explore various marketplaces & engage in sociocultural
activities without any limitations. For instance, Decentraland has an interoperability feature.
4. P2P transactions: On the NFT marketplace, the recording transaction method across
decentralized P2P networks makes asset transactions easier. With a decentralized NFT
marketplace, users can securely make peer-to-peer transactions. The strong security system &
P2P technology protects users from any cyber threats. Moreover, the purchase details and user
data are securely coded that get automatically transferred.

4. 5. NFT wallets: NFT wallets can be integrated into NFT marketplaces that enable users to send,
buy & store assets along with offering connectivity. Wallets must be integrated with several
third-party wallets for facilitating easy and smooth transactions. As a digital vault, an NFT wallet
allows users to store & manage their collectibles safely. These are completely computerized
programs that effectively support blockchains.
6. DAO integration: Most Metaverse NFTs are currently adopting the DAO or Decentralized
Autonomous Organization model to create an autonomous organization completely free of any
hierarchical structure. DAO-enabled NFT marketplaces are usually regulated where both major
& minor both types of decisions can be made via proposal.
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Steps to Build a Metaverse NFT Marketplace
The entire process of Metaverse NFT marketplace development needs technical knowledge &
expertise. Professional NFT experts use a number of Metaverse development tools &
technologies to make the development process faster. Let’s check what is required for making
an NFT marketplace.
Required tools Unity, Metaverse studio and Unreal Engine
Programming
languages:
HTML, RUST, C++, Solidity and Javascript

5. Technologies Blockchain, Augmented reality, Virtual reality, 3D reconstruction, IoT,
AI & Cryptography
Now, we’re going to proceed to the major steps of Metaverse NFT marketplace development.
For your convenience, we have kept the steps well-planned & strategic. Let’s dive in:
Step 1: Select the right blockchain network
Every well-known NFT marketplace runs on an interoperable, robust, and scalable blockchain
network. Therefore, it’s important to choose a project-specific blockchain network based on
which marketplace will run or exist for a long period.
Most projects currently run on the Ethereum network and you can also build your marketplace
on third-gen blockchain ecosystems like Polkadot, Cardano, Near protocol, etc. These protocols
effectively support cross-chain marketplace development in the metaverse.
Step 2: Build an intuitive and user-friendly interface
Once you choose your network, you need to proceed to create UI/UX that will grab your user’s
attention in your marketplace. A metaverse development companies always suggests creating
an interface engaging, responsive, intuitive, and user-friendly.
This is because a good interface always reflects the impression of the NFT marketplace. It also
ensures flawless & secure trading of NFTs without glitches & bugs. Moreover, you can
showcase your marketplace features in a unique way to your users to enhance user
experience.
Step 3: Select the top features to add
Implementing advanced features is important to optimize and enhance the functionality of the
NFT marketplace. Based on the project requirements, you can select different features like
decentralization, decentralization, 3D display, storefront, wallet integration, interoperability,
etc. It’s recommended to be specific on the NFT marketplace features.
Step 4: Setup IPFS & database
The marketplace you build needs a decentralized storage space that will store NFTs and user
data with high-end security. The database is highly responsible for keeping the private and
sensitive data of the admin & user profile. Moreover, this database also carries information
about the tokens.
On the other hand, the Interplanetary File System or IPFS is used to store and share data in the
form of database systems and distributed files. Setting up an IPFS & a database ensures
maximum security and high efficiency on the platform.

6. Step 5: Create smart contracts
Smart contracts technically run through blockchain protocols. No intermediary is required for
blockchain to manage the platform as blockchain uses smart contracts for regulating and
implementing all operations. The advantages of using metaverse smart contracts are huge.
The smart contract functionalities rely on the technical aspects, features, and requirements
structure of the project. While creating a smart contract in Metaverse, always keep in mind that
it must be aligned with key features. After that, you can integrate some essential tools such as
dApps, wallet, payment gateway, and browser extension to make your marketplace operable.
Step 6: Testing and deployment
The testing stage is done upon integrating smart contracts and completing the database
creation. In the final stage, you should audit your smart contract rigorously to ensure that there
is no defect or glitch in the codes. Before deployment, several quality testing processes are
performed to address bugs & defects related to the marketplace. If any error is identified, it’s
removed or rectified at this stage instantly.
Cost of metaverse NFT marketplace
Top NFT marketplaces like Superfarm, Rarible, and OpenSea are the epicenter of high revenue
& funding. As per the report, the NFT market segment revenue is projected to reach approx
8412 million USD by 2027.
Sl no. Year Revenue in USD
1 2022 $2520 Million
2 2023 $3686 Million
3 2024 $4935 Million
4 2025 $6220 Million
5 2026 $7435 Million
6 2027 $8412 Million
According to the report, the average cost of NFT marketplaces usually ranges from $50,000 to
$500,000. However, it usually depends on the customizations you look for to meet all your

7. business needs. If you would like to create an NFT marketplace from scratch, you have to pay
more than a ready-made solution. Moreover, the cost of developing an NFT marketplace also
depends on several factors such as
1. NFT tech stack
A tech stack consists of frameworks, tools, and technologies that will help in the NFT
marketplace development process and it also plays a big role in development cost assessment.
The standard technology stack mainly depends on NFT standards, frontend frameworks,
storage, and blockchain platforms. Here is a complete analysis of the tech stack used:
1 Blockchain platforms Ethereum, Flow, Tazos and Cardano,
2 NFT standards ERC-721 and ERC-1155
3 Storage platforms IPFS, Pinata and FileCoin
4 Frontend frameworks React, Vue and Angular
2. NFT marketplace category
The overall cost of metaverse marketplace development also depends on the categories
you’ve chosen. For example, if you go for collectibles, the NFT platform should be more secure
as compared to an open app market. The top four NFT marketplaces include:
 Open & premium marketplace
 Curated & non-curated marketplace
 Games marketplace
 Collectibles marketplace
Based on these categories, here is an estimated cost analysis of metaverse NFT marketplace
development.
Sl no. Category Estimated cost in USD
1 Open & premium marketplace $50,000 to $150,000
2 Curated & non-curated marketplace $80,000 to $200,000

8. 3 Games marketplace $60,000 to $250,000
4 Collectibles marketplace $1000,000 to $500,000
3. Developer’s hourly rate
The developer’s hourly rate is one of the crucial factors that effectively influence the cost of
Metaverse and NFT development. The developer’s hourly rate usually varies depending on
different locations. For example, the hourly rate of US-based NFT developers ranges from $100
to $200 but this range will be different in other regions. For your convenience, we’ve shared a
table that shows the location wise hourly rate of NFT Metaverse developers.
Sl no Region Hourly rate
1 US $100 to $200 per hour
2 Australia and Europe $80 per hour
3 India $50 per hour
4. NFT marketplace maintenance
Considering the support and maintenance cost of the NFT marketplace is important if you
would like to build an NFT solution for long-term use. NFT maintenance & associated
Metaverse NFT price depend on the following factors:
Sr. No. Factors Estimated cost
1 Platform updates $5,000 to $10,000
2 Third party integration $2,000 to $10,000
3 Security patches $10,000 to $20,000
4 Server costs $10,000 to $15,000

9. 5 Bug fixes $5,000 to $10,000
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Final Words
NFTs and Metaverse complement each other, bringing a number of growth opportunities for
modern businesses. Many tech giants like Microsoft and Facebook have started investing in this
technology to transform their business models into Metaverse enterprises. Therefore, as a
business owner, it's a perfect time for you to build your NFT marketplace in a metaverse that
will help your users with an immersive 3D experience.
Moreover, with Metaverse NFTs, you can use immersive simulations and open infinite
possibilities & for your business. To achieve this, you must require a fully-featured platform that
suits your all business requirements. Would you like to know more about NFTs and Metaverse
development services? Feel free to contact us for expert guidance.
FAQs
Faq 1: What are NFT and the metaverse?
NFT stands for non-fungible tokens and is a digital asset used for representing unique items like
in-game elements, collectibles, and avatars on a blockchain. On the other hand, the metaverse
is a dynamic 3D-enabled virtual space where users can easily interact with each other. It also
allows users to float into a virtual spade and to do different activities from hosting parties to
buying lands.
Faq 2: What is metaverse in cryptocurrency?
The metaverse & cryptocurrency both can be linked to allow users to sell & buy digital assets
and to make seamless transactions in a digital space. Digital assets can be anything, from virtual
land and real estate to avatar items. In the metaverse, you can earn crypto by selling lands,
creating digital assets, providing services, and hosting events.
Faq 3: What is the best NFT metaverse?
Best NFT metaverse projects include:
1. Decentraland: A metaverse that allows you to buy lands as NFTs
2. Axie Infinity: A play-to-earn game where players can collect magical creatures

10. 3. The Sandbox: A metaverse project with excellent partnerships
4. Wilder World: A metaverse with top-notch visuals
5. Somnium Space: A metaverse that offers an impressive VR experience
6. Voxels: One of the best examples of a crypto metaverse
7. Gods Unchained: A trading game with NFT cards and strong gameplay
Faq 4: How do I invest in the NFT metaverse?
Open an account on the Metaverse virtual space from where you would like to buy virtual lands
and NFTs. For instance, Decentraland is one of the best destinations for buying virtual land;
Sandbox helps to buy and sell NFT arts, and Axie Infinity allows you to buy and sell NFT
characters & virtual land parcels.