NFT (or non-fungible token) business ideas are set to explode in the coming years, as the full implementation of ERC-721 brings about many new blockchain-based business opportunities and revenue streams in the gaming and collectible markets.
To ensure you don’t miss out on any of these opportunities, we’ve compiled this list of our top 8 NFT business ideas that will be hot in 2022.
Get your team together, and check out the NFT marketplace development possibilities!
NFT Business Ideas for SMEs and Enterprises
In this article, Minoid examines the state of non-fungible tokens for entrepreneurs, explains how businesses can use them to build and sell new digital assets and lists some recent trends in the area.
1) Create a White Label NFT Service
White-labeling is removing a product’s original company name and branding it with the seller’s name.
Many small businesses use this arrangement to purchase goods from China and resell them on platforms like Shopify.
The same business strategy may apply to NFT services. The NFT service we offer contains white-label capabilities that make it easy to integrate into your platform.
And if you create a Shopify-like NFT platform with both sellers and buyers in mind, you will dominate this niche.
Every investor who has been paying attention to cryptocurrency over the past two years knows that one of blockchain’s primary use cases is tokenizing digital assets, including NFTs.
No matter how many times you repeat it, most people still don’t understand what it means. Crypto-collectibles are non-fungible tokens (NFTs)—digital assets with unique attributes on a decentralized ledger.
As an asset class, they have massive potential because anyone can create their crypto collectible and make it as limited or as widespread as they want.
3) NFT Art
The technology behind Non-Fungible Tokens (NFTs) will be able to create art digitally, and only those who hold a private key can view it.
However, if your art piece is stored on a blockchain, there will be an immutable record of every owner in history.
Therefore, you’ll be able to track where your work has been and know its provenance (the history of its ownership).
The most innovative use case would be a digital edition of fine art that tracks every time it changes hands—with essential benefits for people doing business with or selling artwork.
4) Start an NFT Marketplace
Non-fungible tokens (NFTs) represent ownership of something inherently distinct and scarce, such as a physical or digital item.
For businesses interested in NFTs, you can Whitelabel an NFT marketplace.
NFT marketplaces allow digital collectors to buy, sell, and create unique tokens representing ownership of tangible and intangible items.
NFT marketplaces are platforms that allow NFTs to be stored, displayed, traded, and in some cases, minted (created).
These marketplaces are comparable to Amazon or eBay in that they provide a similar platform for goods.
5) Become an NFT Broker
NFT assets are very volatile, and brokers profit from their price differences.
Unlike any other cryptocurrency, NFTs are each one of a kind. Despite the growth of the crypto market, it’s already too late to make money on your investment.
Fungible trading should be viewed as a long-term investment. Antique traders buy collectibles, knowing that their value will increase over time.
The same is true of non-fungible tokens. Knowing how to showcase them and when to sell them makes a successful broker.
NFT Marketplace Development Services
Connect with our blockchain consultants if you are planning to develop your own NFT marketplace. With Minoid’s NFT marketplace development services, you can whitelabel a robust NFT marketplace easily!