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1. Launch Your Own NFT
Marketplace Like Foundation
Non-Fungible Tokens are learning the trend daily. in only about 6 months of the year
2021, the entire sales volumes got shot up to $2.5 billion from $13.7 million within
the 1st half of the year 2020. this is often all thanks to the worth related to this asset
and its benefits. The asset is
● Easier to trade in comparison to traditional systems
● Gives artists complete control
● Smart contracts compatible
● Completely digital, secure, and fast
● Immutable
● Copyright protected
Considering these benefits of NFTs, many users are jumping into this trend and
listing their work as NFTs. These NFT transactions are facilitated by an entity
connecting buyers and sellers which are referred to as the NFT marketplace. Since

2. the demand for NFTs is rising day by day, the sales experienced by the NFT
marketplace also are increasing. OpenSea, which is that the no 1 NFT marketplace by
sales recorded $150 million in June.
Other Famous NFT marketplaces are
● Foundation
● Rarible
● Superrare
● Hoard
● Mintable
How Foundation NFT Marketplace Works?
After Superrare and NiftyGateway, Foundation has established itself as a somewhat
reliable and curated NFT marketplace. It describes itself as a bridge between crypto
and culture to foster a network of mutual support between artists, creators, and
collectors.
Cryptocurrency used: Foundation works on the network of Ethereum blockchain
and hence accepts Ether (ETH) for transaction purposes of an NFT. Hence the wallet
which must be linked to the inspiration marketplace is going to be supported by an
Ethereum blockchain like Metamask. Both the creators and buyers will need to link
their Metamask wallet to Foundation to successfully create an account on
Foundation and conduct transactions.
Foundation and Its Creators: the sole way for artists to list their art on
Foundation is once they are invited on the platform to mint NFTs. they're going to
need to mint then list their NFTs on the marketplace for users to interact with the
NFTs. Foundation takes about 15% of the sale price from the creators and hence the
creator gets 85% of the general sale amount. The simplest perk about the inspiration
is that it'll automatically deposit 10% of the longer-term sales price of the NFT to the
first seller within the sort of royalty.
The reason for anyone to think about building a community-driven NFT
marketplace-like foundation is that the profits and therefore the money involved. In
only about 5 months of the launch of Foundation NFT marketplace, it's been ready to
generate a revenue of 26,657 Ethers which is about $85,895,453.52. That’s tons.
That’s the perk of getting an NFT marketplace that's creator-driven and
creator-centric. Since all the features are concerned and designed around the
creators, more creators are getting to trust Foundation with their art, and check out
to earn money. Some features of the inspiration are listed below.
Foundation for its community: a bit like creators, the investors also will need to
link their Metamask wallet to the inspiration to open an account. If the customer
bids within the auction within the last quarter-hour of the auction, the auction gets

3. pushed for an additional quarter-hour until there's no consecutive bid. When an
investor invests in an NFT, the NFT gets stored into the user’s Metamask wallet in
exchange for Ether. The users will have a customized profile page that will show the
gathering of NFTs of the collector. The collector also can share it on social media,
display during a virtual gallery or maybe sell it afterwards to the secondary
marketplace.
Features of Foundation
Minting
The foundation helps the artists mint their digital assets on the blockchain. Minting
is the process during which the digital asset/NFT becomes an integral part of the
Ethereum blockchain. This may make the NFT tamper-proof and therefore the assets
won’t be modifiable.
Search and Filters
Foundation features a search option that permits us to see for creators and collectors
of our choice. We will even search artworks of our interest by using this feature.
there's also a display of top collectors and creators within the explore tab during
which we will sort consistent with different periods
Auctions
As soon as the NFTs are minted, the creator can list work on the marketplace. The
marketplace follows an auction format, where the auction will begin as soon as the
1st bid is placed on the NFT within the marketplace. If nobody places a bid, the
auction won't start. Therein case, the creator can modify the NFTs price but will end
in gas fees.
Creator Profile
All foundation creators will have a fanatical profile created for them as they create an
account on Foundation. This profile page will display the profile picture and
therefore the social media links for the creator, which can probably make it easy for
the creators to earn a following. It also involves all the bidding history of the piece
created and also displays artists work on Foundation,
History of Art
Each art piece created using the inspiration is often traced back to its original 1st
seller. This introduces transparency within the system and shows the knowledge of
who created the art, when the art was created, and who has owned the art within the
past.

4. Decentralized Storage
One of the most important selling points of the inspiration is that it's decentralized in
nature. This suggests that there's no secret room somewhere handling the inspiration
s ecosystem and therefore the elements just like the NFTs within the Foundation. the
entire ecosystem isn't at the mercy of one server. It uses a decentralized peer-to-peer
network, which makes it more efficient, fast, safer, reduces the value of the
operation, and more.
Why Have An NFT Marketplace?
NFTs are learning and there's no barrier to the sort of marketplace it is often. If
looked upon broadly, there exist two sorts of marketplaces.
Universal Type: These involve the listing of all kinds of NFTs during a single
marketplace.
Specific Niche Type: These marketplaces only specialise in a selected niche of
NFT. It is often games, memes, gifs, arts, tweets, etc
NFTs have an enormous market as we've seen earlier and because the involvement of
the overall public increases during this asset, the industry will eventually reach
higher heights. Many NFT niche marketplaces have yet to be created or aren't that
documented. Also, we will always program a marketplace having a singular feature.
It is often a free listing of NFT, no entry barrier, only dedicated community access,
etc. A marketplace script is often wont to program a customized marketplace. So,
with the proper NFT Marketplace script, a customized marketplace is often
programmed with all the features and functionalities of an NFT marketplace.
These NFT marketplaces can now easily be created with an experienced team at
Brugu Software Solutions. We've been working within the area of Blockchain
Technology and have partnered with clients from everywhere in the world. We take
on-demand projects and also offer quick to deploy solutions. Our NFT solutions
enable entrepreneurs, enthusiasts, investors, start-ups, to build their own NFT
marketplace. If you're curious about creating your very own NFT marketplace
get in-tuned with us. we might be honoured to figure with you.
For Ref:https://brugu.io/blog/launch-your-own-nft-marketplace-like-foundation/