NFTs have been in the news for a long time now. When this article was written, Nft market cap was $6,677,232, which is susceptible to change with fluctuations in the market. This extraordinary growth has not only resulted in benefiting the owners and creators of NFTs but also the marketplaces where they are being hosted.

Let’s get into understand NFTs or non-fungible tokens and also cost of NFT marketplace development on a deeper level!

What is a NFT Marketplace?

An NFT marketplace in an online marketplace in which the creators sell their non-fungible virtual products and the buyers procure them using cryptocurrencies like Bitcoin or Ether.

How Much does it cost to create a NFT marketplace?

Well, coming to the cost of building a NFT marketplace, everything purely depends on the amount of work required for the same. For example, the cost for developing a NFT marketplace would be reduced if you choose to use a ready-made solution.

Also, starting an NFT marketplace with a popular clone script will save money and make it more accessible to startups and entrepreneurs.

It is difficult to mention an exact price without getting to know the requirements and specifications, however, the fundamental elements of the NFT marketplace clone script usually cost around $100k-$500k. Obviously, as told above, this amount is also just an estimation not an exact price.

The cost for developing NFT marketplace would be increasing depending upon the customizations you need to meet your particular business needs.
Also, if you are thinking to build you own NFT marketplace from the ground up, then the cost for the same would be high than the ready-made solution.

The cost for developing NFT marketplace would be increasing depending upon the customizations you need to meet your particular business needs. Also, if you are thinking to build you own NFT marketplace from the ground up, then the cost for the same would be high than the ready-made solution.

Reference article: https://appinventiv.com/blog/cost-of-nft-marketplace-development/