NFT Minting platform development - outsourcing company Boosty Labs
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Minting platform development

Minting is the process of creating a non-fungible token and “registering” it on the blockchain. To mint NFT, you need to pay a network fee. After that, information about the non-fungible token and its author is included in the blockchain. For a long time, the Boosty Labs company has been successfully providing outsource minting platform development services. We are a world-class fintech and cloud engineering team with a solid background of practice that combines consulting, strategy, design and engineering at scale.
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NFT minting platform outsource development stages

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Project discussion

Acquaintance, questions, preparation of a resume. Coordination of preliminary volumes of work, cost and terms.

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Coordination of technical task

Preparation and coordination of detailed technical tasks and terms of reference with the study of the architecture and functionality of the site.

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Prototyping

Development of a prototype: if necessary, the structure as a whole and individual sections are adjusted.

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Design

Development of UI/UX, visualization of elements, color schemes, filling the prototype with test content.

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Layout and programming

Building a website, connecting the necessary modules and services, creating smart contracts and integrating them into the blockchain.

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Project completion

Cross-browser functionality testing, website launch.

NFT minting platform/marketplace features

The basic set of modules

  • NFT minting;
  • registration through a digital wallet;
  • showcase;
  • buying NFT immediately or through an auction;
  • filters for searching and sorting;
  • tracking the current status of ads;
  • ratings of sellers and buyers;
  • support of contact forms.

User Features

  • non-fungible tokens minting;
  • viewing information on each exposed NFT;
  • sorting tokens;
  • search for tokens by certain criteria using filters;
  • buying tokens through direct sales and auctions;
  • keeping track of all the necessary information in your personal account;
  • receiving notifications about each stage of the transaction.

Earning opportunities

  • Creation, exchange and sale of one’s own collections of non-fungible tokens on the platform implies independence from intermediaries and conditions of third-party platforms.
  • Earning a percentage of the resales of NFTs you create.
  • Getting a percentage of NFT sales of other users on your site.
  • Getting paid for listing other people's NFTs on your platform.
  • Placing paid advertising is an additional source of income.
  • Integration of auctions into your platform: receiving commissions.

Non-fungible tokens or NFTs are digital assets, each one is unique. The format of such assets is universal. You can “wrap” a lot in it: from music tracks to exclusive photos and even real estate rights. The format helps to prove ownership of a digital object. To this end, information about the NFT and the owner of the token is entered into the blockchain.

Benefits of NFTs

  • The COVID-19 pandemic has increased interest in the digital realm and made people around the world more open to new technologies, including blockchain technologies and non-fungible tokens.
  • Large status companies turn to NFT trading.
  • NFT collectibles are guaranteed to be counterfeit-proof as their originality is secured on the blockchain.
  • The uniqueness and limited issuance of NFTs makes non-fungible tokens valuable collection items.
  • NFTs can be bought, sold and resold around the world, which greatly expands the pool of potential customers.
  • The code and metadata of a non-fungible token cannot be changed, it cannot “spoil” or “break”.
  • Part of the NFT may have additional useful features, such as entitlement to membership in a closed club or exchange for physical property.

The process of creating a token is often referred to as minting. NFT minting can be represented as the following steps:

  • Registration on the platform through the connection of a crypto wallet.
  • Creation of a separate non-fungible token or formation of a collection with NFT loaded into it.
  • Registration of a digital asset in the blockchain with the payment of a network commission.

To save on NFT minting, you should not register tokens during periods of increased network load.

NFT minting platforms will continue to gain popularity as NFTs grow as a new asset class in the crypto space.
 

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