Venture into the Solana Blockchain by NFT Marketplace Development Like Solsea

As the world is inching closer to adopting Web3 into the mainstream, newer blockchains come into existence, with each one promising to be the best in the world of blockchains. While most of them get relegated to the corners of the Web3 universe, some of them pose a serious competition to the legendary blockchains and continue to evolve towards victory. Solana is one of such success stories as it has integrated the three main features – Scaling, Security, and Decentralization without compromising any of these. The Solana chain is posing as the huge competitor of the legendary Ethereum blockchain and is looking to become the leading blockchain.

Solana has its own NFT marketplace called Solsea. It is getting more traction by the day due to its features (such as the low cost per transaction or the marketplace fee) and the characteristics of its host chain. In this blog, we will look more into developing an NFT marketplace like Solsea.

Reasons to Develop an NFT Marketplace Like Solsea

• NFT marketplace Development like Solsea can get your portal a special place on the Solana blockchain.
• A marketplace like Solsea can gain from the Solana blockchain’s special feature called Proof-of-Stake (POS), where power consumption and computing requirements are less during every transaction. Therefore, you can save a lot of money.
• Also, an NFT marketplace like Solsea can record exact timestamps for every transaction in order through Proof-of-History (POH). Hence, the need for validation through users or a third party is eliminated.
• Such a marketplace portal collects a reasonable transaction fee, which might not be a problem for the users while earning handsome profits.

Salient Features of the Solsea Platform

• Solsea NFT marketplace allows its users to attach licenses to their NFT products through their portal as a measure to assure ownership.
• Public and private listings are supported in a marketplace platform like Solsea, where sellers can list their NFT items to the general public or sell them to their closed ones at a special offer price.
• Users can track the price changes of their favorite NFT product from the calendar in the portal, where they can look out for cost variations of an NFT product since it was first listed for sale on the marketplace.
• Solsea-like NFT marketplace portal also supports multiple wallets (Solflare, Phantom, and Sollet) and more are to be added soon.
• The Solsea like platform also supports various cryptocurrencies and even some stablecoins.
• A marketplace like Solsea supports three-dimensional viewing of an NFT item, thereby adding user experience and satisfaction.
• A special feature called rarity index shows a number that depicts the rarity of the particular NFT product on the Solana network. This ensures that more sellers would join the marketplace to get the correct prices, therefore profiting your venture.
• Creators can mint NFT tokens in bulk on the Solsea like marketplace quickly as Solana blockchain bears all the minting process without hassle for your platform.
• Creators can get royalties for every resale, which can serve as a passive income.

Benefits of a Solsea Like NFT Marketplace

• The transaction speeds are faster in the Solsea NFT marketplace, so thousands of transactions (nearly 700,000) can be processed per second.
• The fee per transaction is very less compared to other blockchain networks.
• The transaction operation is carried out with a mechanism that concentrates on energy conservation (Proof-of-Stake), reducing electricity costs, and reducing contribution to global warming.
• The timestamp for every transaction on Solsea is recorded through an automated mechanism called Proof-of-History (POH), ensuring that correct times are recorded without validation from users.
• Solsea NFT marketplace benefits from its host chain – The Solana blockchain, which has achieved the blockchain trilemma of scaling, security, and decentralization with ease.

Step-by-Step Development of a Marketplace like Solsea

• NFT marketplace development like Solsea Services starts with extensive planning where all possible contributing factors are considered and features to be used are confirmed.
• Then, the user interface (UI) for the NFT marketplace like Solsea and user experience (UX) features are added and tested with mock user-end screens.
• Then, the marketplace platform is developed from end-to-end using advanced programming techniques by utilizing efficient programming practices.
• After developing the preliminary platform, the marketplace platform is tested for bugs, errors, and defects. If such deficiencies arise, they are resolved quickly, and testing is done until the software has no flaws.
• Then the NFT marketplace like Solsea is deployed in the Solana blockchain in different forms (website and mobile application) as per your intent. The performance is continuously checked so that you can add changes after getting feedback.
• As time goes, you should continuously upgrade the marketplace platform like Solsea in NFT to handle user traffic and shield off any malicious activity.

Wrapping Up

Developing a marketplace platform like Solsea can be beneficial as a business venture as you would have the massive support of the Solana blockchain, along with the growth of NFT enthusiasts, making the platform only more profitable.