2021 is the year when the digital revolution started to progress at a fast pace. However, the non-fungible tokens have witnessed a never-seen-before growth since their emergence. The size of the global NFT sector reached $50.10 billion in 2021 and it is forecasted to grow at a compound annual growth rate of 10.7%. Seemingly, this secondarily signifies that it is the right time to leap into the NFT sector.
The undeniable fact is that there is an ample number of NFT projects. Nonetheless, the NFT launchpad is the platform where the project holders can raise funds for building their projects related to non-fungible tokens by reaching out to the broader capitalists or investors. Hence, with the increasing hype for NFTs, the launchpad for putting projects live is also soaring.
If you are the one who thinks to leverage the current trend and make a first step in getting into the NFT sector, then going ahead with NFT launchpad development would be a viable option.
NFT Launchpad – Explained
Let’s begin this blog by knowing what the NFT launchpad is about. It is a platform where NFT-based startups would raise funds from investors. It also supports minting and selling non-fungible token projects. The creators or entrepreneurs can make their projects live on this platform for sale. Furthermore, the investors who are interested in the projects can invest in them. Thereby, the projects would gain funds. Undoubtedly, the NFT launchpad would benefit both investors and entrepreneurs.
NFT Launchpad Development For Diversified Fundraising Mechanisms
When it comes to NFT launchpad development, supporting various fundraising mechanisms would bring greater benefits for users to opt for the one they want to prefer. The following are some promising fundraising approaches or methods. Have a glance at these.
- Initial Coin Offering (ICO)
Initial Coin Offering is a fundraising mechanism carried out by drawing the power of blockchain as well as the cryptocurrency environment. In this, the funds for crypto-based projects could be raised. The capitalists who are investing in the projects at an early stage would be rewarded with governance rights.
- Initial Exchange Offering (IEO)
This type of fundraising mechanism allows the startups to list their tokens on centralized exchanges in order to raise capital. Thereby increasing the liquidity of the token. However, the tokens to be listed on the platform could be bought by any investors or traders.
- Initial Dex Offering (IDO)
The undeniable thing is IDO being the latest fundraising mechanism, comes with various perks, overcoming the shortcomings of other pioneer fundraising approaches. The perks include instant liquidity, swift trading, and cost-effective token listing. In order to raise funds, the IDO tokens are to be listed on the decentralized exchange.
- Initial NFT Offerings (INO)
Initial NFT Offering is a new type of fundraising approach, i.e., the latest of all other approaches. In this, the tokens will be sold at an early stage for some particular time. However, the investors who have a hold of the required number of tokens in their hands would participate in the first round of launchpad. This is quite similar to a lottery or in the sense of a first-come, first-serve basis.
Apart from the mentioned fundraising mechanisms, the other two prominent ones include Initial Liquidity Offering and Initial Farming Offering. When it comes to cross chain launchpad development, the choice of incorporation of fundraising models is yours. Ensure to choose the preferable ones so that investors and start-ups can make use of them.
Breakdown Of The NFT Launchpad Development Process – Step-By-Step Instructions
In the blockchain era & digitized world, it is not a complex process to go for the NFT launchpad development. Here are the three steps to be carried out.
- Primary Objective
Defining your objective is the foremost step to be carried out. Without knowing the purpose of launching the platform does not serve you well for a long period of time. Like, it might be resonating with the existing non-fungible token launchpad to cover up a broader audience base. And, you even might have thought of revolutionizing the NFT sector by launching your platform.
- Features & Functionality Of The NFT Launchpad
The very next thing is defining the functionality upon deciding on which features to be included. For this to be attainable, you could check over the competitors’ launchpad in order to come up with your own set of features. Or else, you could survey among the NFT community to know their preferences and expectations. The following list is the set of essential features or attributes that need to be given utmost importance.
- KYC Compliance
- Liquidity Pool
- Diversified Fundraising Models (INO, ICO, IEO, IDO, IFO)
- Digital Wallet Integration
- Multi-Tier Staking Module
- The Way Of Developing The Launchpad
The way in which the cross chain launchpad development is to be carried out should be given utmost priority. There are two predominant approaches, including creating it from scratch (with code) and customizable solutions (no-code).
The customary coding way of development is quite a complex one and it would take much time & effort as well as cost. On the contrary side, choosing the NFT multi-chain launchpad solution could be affordable and to be deployed within the shortest possible time.
Hence, this will be the ideal choice for newbie entrepreneurs to deploy their NFT launchpad and leap into the NFT sector.
Ready For NFT Launchpad Development? Connect With A Reliable Tech Partner
When you are sure of delving into the NFT sector, everything you have to get started practically is approaching the company or firm that excelled in delivering the NFT launchpad solution. This is to be well-crafted in such a way that the features and functionalities would be quite typical or similar to the existing launchpads. Moreover, in the case of opting for the launchpad solution rather than starting it from scratch, it comes with the benefits of 360-degree customization. That is, it will be much suitable for your requirements.
Coming to the conclusion of this blog, it will be an ideal option for entrepreneurs to choose the NFT Launchpad Development solution rather than opting to create it right from the beginning through the traditional coding approach. The individual entrepreneur who is inspired to join the NFT craze like you can go for it by connecting with a reliable company and getting a personalized solution.