NFTs and the Web: Creating Platforms and Tools for Digital Collectibles
The Digital Gold Rush: Why NFTs Are More Than Hype
A couple of years ago, digital art ownership was an absurd idea to many. "Why would anyone pay for an image they can screenshot?" they asked.
Then, in 2021, Beeple sold an NFT artwork for $69 million, shaking the art world and proving that digital ownership was, indeed, a thing. My friend, a digital artist, thought he'd try his hand. He made his very first NFT, and within 48 hours, it had sold for $2,000—more than he'd ever made selling physical prints!
That's when it hit me—NFTs are revolutionizing the internet. They're not just for art; they're revolutionizing gaming, music, real estate, and even fashion. But for NFTs to succeed, they need robust platforms and tools.
If you're looking to build a next-generation NFT marketplace or tool, here's what you need to know.
- Choose the Right Blockchain
Not all blockchains are created equal. Each has its own strengths and weaknesses:
Ethereum (ERC-721, ERC-1155): Most widely used but with expensive gas fees.
Solana: Cheaper and faster but still building adoption.
Polygon: Cheap with Ethereum compatibility, a very viable option.
Tezos: Environmentally friendly with less expensive transactions.
Tip: When creating an NFT platform, support more than one blockchain for wider reach.
- Make User Experience Your Priority
One of the biggest barriers to NFT adoption is complexity. The majority of users have no idea how to set up wallets, pay gas fees, or safely store their digital assets.
Make it easy:
✅ Accept fiat payments so users don't need crypto.
✅ Integrate easy-to-use wallets like MetaMask or Phantom.
✅ Offer gas-free transactions where possible to onboard more users.
Tip: Rarible and OpenSea are popular because they keep it easy. Take a lesson from them.
- Ensure Smart Contract Security
NFTs are stored on smart contracts, which are digital assets, but broken security can lead to hacks and scams. Millions of dollars' worth of NFTs were stolen in 2022 alone because of contract vulnerabilities.
How to stay secure:
✅ Work with audited smart contract developers for security.
✅ Implement multi-signature transactions for high-value NFTs.
✅ Educate users on phishing scams and wallet security.
Tip: If you’re launching a marketplace, offer insured transactions to boost trust.
- Support Creator Royalties
One of the biggest advantages of NFTs is that creators earn royalties on every resale. Imagine selling a painting once and earning a percentage every time it’s resold!
Platforms like OpenSea and Foundation allow artists to set royalties between 5-10% on secondary sales. If you’re building an NFT platform, this feature is a must.
Tip: Smart contracts should enforce on-chain royalties to prevent bypassing them.
- Build a Strong Community
NFTs thrive on hype and engagement. The most successful projects—like Bored Ape Yacht Club and Azuki—built tight-knit communities that turned into movements.
How to grow your NFT community:
Utilize Discord and Twitter as primary engagement platforms.
Provide exclusive benefits (early access, limited drops, token rewards).
Foster collaborations between influencers and brands.
Tip: Demand is driven by a strong community, prices are increased, and longevity is ensured.
Final Thoughts: The Future of NFTs & Digital Collectibles
NFTs are not just a trend—they're changing digital ownership across all industries. Regardless of whether you're an artist, developer, or entrepreneur, it's crucial to understand how to build NFT platforms and tools.
If you had to initiate an NFT project, what would it be? Share with us in the comments!