Since Beeple sold their NFT artwork for $69.3 million on Christie’s earlier in April, many artists and digital content creators have actively started using NFTs to sell their artwork. For content creators including musicians, artists, influencers amongst others, creating a non-fungible token allows them to provide unique and immutable certificates of authenticity and ownership to their fans, buyers and NFT collectors.
While creating NFTs is a great way to sell “creative assets” by digitizing them, the process is expensive. NFT creators often have to rely upon several NFT marketplaces to reach potential buyers. Moreover, there are several other additional costs and limitations. All popular NFT marketplaces charge a significant commission. Often these marketplaces set the prices and also control the market. On average, if an NFT creator sells an NFT token for $100, they end up pocketing $60 or less. The way the market is structured, creating NFT marketplaces is arguably a highly lucrative business for all - except the artists, musicians, influencers and other creators.
One would ask if NFT marketplaces are not the most profitable way to sell NFTs, why don’t NFT creators try selling them directly? The problem is NFT creators will have to create a digital marketplace where potential buyers can participate in auctions, make bids and buy. Building an NFT store from scratch is costly.
To help creators sell NFTs directly to buyers, Xircus has created an intuitive platform anyone can create and launch a custom NFT marketplace and build their own NFT ecosystem. Based on a decentralized software as a service (DSaaS) model, Xircus claims to be the world’s first multi-chain gamified DAO platform that allows both individuals, brands, and even startups to create and deploy custom NFT marketplaces.
Last modified 9mo ago
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