Stage 1: Formulate Requirements
In the first place, our analyst team will sit with you to analyze your NFT project requirements. Here, you can specify the blockchain tech to develop the smart contracts for your NFT marketplace.
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Smart contracts form the basis of any function happening on the blockchain for Non-Fungible Tokens (NFTs). Since smart contracts lay the foundation for the functionality of NFTs, they need to be coded without any flaws. Smart contract developers at our NFT smart contract development company hold years of experience and are highly skilled in building smart contracts for NFTs, DeFi tokens, NFT marketplaces, DeFi exchanges, etc.
Be it NFTs or other tokens, the key is to keep them unique and immutable. Hence, developing smart contracts will preserve ownership and prevent identity theft. We, at Appdupe, provide custom smart contract development for your tokens that belong to any category. Head to book a quick meeting with our team to dig into further details.
NFT smart contract, in plain terms, means a digital trading agreement that carries a set of conditions. Such conditions have to be met in order for the NFT trading to take place successfully. Smart contracts run on the blockchain network and will automatically execute when any transaction is triggered.
Smart contracts are software programs that are coded to represent certain features or functionality. These smart contracts can be built on any blockchain like Solana, Ethereum, Polygon, Avalanche, TRON, etc., and will be based on a specific token standard respective to the chosen blockchain. Smart contracts are executed whenever functions like minting, trading, bidding, etc., happen on the platform.
Smart contracts are embedded or coded into NFTs to govern the entire functionality. Let’s see through some examples of how these contracts work, thereby generating the required actions on any NFT marketplace.
Let’s take the example of an NFT gaming platform that features multiple in-game collectibles. Players will be enabled to own the collectibles if they accomplish some objectives or they can buy them using cryptocurrencies. Here, the program embedded into the smart contract will decide when the in-game collectibles have to be transferred to the players. So, this is how any smart contract will work, corresponding to the action specified in it.
The hype and adoption of NFTs are seeing rapid growth due to the underpinned value in the form of royalty. Previously, once NFTs are sold to a buyer, the creator will receive only the selling price. Only with advancements in smart contract development did royalty payments come into existence. Zora, OpenSea are the notable NFT trading platforms that allow NFT creators to decide the royalty percentage they’d like to get when their creations get sold on the platform. However, not all NFT trading platforms supported this royalty payment at that time.
Hence, the ERC-721 Royalty Standard was established to normalize royalty payments for original NFT creators. Let’s see how creators can fix royalties for their NFTs through smart contracts. Suppose the primary sale price of an NFT is 10 ETH. Now, if the creator chooses 5%, then he will receive 5 ETH as royalty rewards.
Smart Legal ContractsLegal smart contracts define the legal requirements between both parties. Parties involved in the agreement have to abide by the terms mentioned in the legal smart contract and failing to do so will result in legal action.
Application Logic ContractsThis type of smart contract is application-based and they facilitate communication across multiple devices and possibly the collaboration of IoT with blockchain tech.
Decentralized Autonomous Organization (DAO)DAO represents a community and is coded by smart contracts. DAO is known for its transparency and flat hierarchical architecture. The DAO members have a say in amending any changes that have to be implemented in a platform.
NFT Art MarketplaceNFT art marketplace is where artists come over to tokenize their arts into NFTs. If you have drafted plans to launch an exclusive platform for trading art-based NFTs, let us provide you with smart contract development services to frame the functioning of the entire platform.
Get It NowNFT Gaming MarketplaceNFT games are growing at a rapid pace as players can earn various in-game collectibles. Besides the smart contract development for the platform, the in-game collectibles also need to be backed by smart contracts so as to define when players can get those collectibles.
Get It NowNFT Fantasy Sports MarketplaceFantasy sports involve users forming different teams by adding players based on their previous performances. Users can buy players for their team through bidding and NFT smart contracts will be required to back the entire functioning.
Get It NowNFT Music MarketplaceMusic NFTs are no exemption when it comes to tokenizing digital works. Music artists are enabled to convert their unique creations into NFTs, list them on the platform, and attract their fan followers. We can develop custom NFT smart contracts for your music NFT marketplace as per the functionality you require.
Get It NowNFT Video MarketplaceAnyone can tokenize their video files into Non-Fungible Tokens and start monetizing. Approach our NFT smart contract development company to get a customized trading platform for NFT videos.
Get It NowSmart Contract DevelopmentWe take up smart contract development for various NFT projects irrespective of the domain.
Smart Contract AuditingSmart contracts need to be audited for bugs since they form the foundation of the entire functioning of the marketplace.
Smart Contract OptimizationOnce smart contracts are deployed into the blockchain, they will consume a certain percentage of gas fees. To suppress the consumption of gas fees by smart contracts, we will develop and deploy optimization algorithms.
Smart Contract SupportOur technical team will assist you with clarifying any queries corresponding to building smart contracts. Set out to us!
In the first place, our analyst team will sit with you to analyze your NFT project requirements. Here, you can specify the blockchain tech to develop the smart contracts for your NFT marketplace.
We will code the smart contracts using a certain programming language, which will be based on the blockchain you prefer. Coding the contracts will involve implementing the required functionality of the marketplace.
After developing the smart contracts, testers will test them on the testnet and then on the mainnet. The testing team will carry out smart contract auditing to ensure that they are bug-free. Finally, they are deployed on the mainnet.
Our blockchain development team is trained to develop smart contract-based NFT solutions on various blockchain technologies and hence you are free to shortlist the blockchain for your NFT-oriented projects. Get an overview of blockchain tech in which we are experts in developing smart contracts.
Ethereum
Hyperledger
Cardano
Tron
EOS
Stellar
NEM
Tezos
NEO
Minter
Internal Smart Contract TeamWe have an experienced team of professionals who provide 360-degree smart contract-based NFT development services like developing, auditing, optimization, and technical support.
Blockchain ProficiencyOur developers’ hands-on experience in multiple blockchains is the backbone of our prominence in the blockchain industry.
ConfidentialityWe stick to the Non-Disclosure Agreement (NDA) to let you know that your project development will be highly confidential with us.
Compliance & GovernanceWe 100% glue to our company policies and also provide documentation to ensure post-implementation governance.
Perpetual Customer AssistanceOur tech support team will provide you with smooth technical assistance throughout the development process and post-development as well to establish long-term customer relationships.
Get your blockchain application development idea validated right away.
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