This article uncovers factors that influence the final NFT marketplace development cost so that after this blog, you can estimate the development cost of your NFT Marketplace on your own.
Let’s begin.
What do you need to know about NFT marketplace?
FT marketplaces are platforms that connect NFT creators and buyers, enabling users to mint, list, buy, sell, and trade digital assets on blockchain networks. These platforms make NFT trading much easier. They simplify processes such as payments, ownership transfer, and asset discovery.
Although market activity has fluctuated, NFT marketplaces remain essential platforms for trading digital assets as adoption stabilizes and evolves.
NFT marketplaces can be broadly grouped into three models: General, Specific, and Exclusive NFT marketplaces.
- General marketplaces support many NFT categories and usually require broader feature sets and higher scalability. Some well-known general NFT Marketplaces are OpenSea, Magic Eden, ImmutableX,…
- Specific marketplaces focus on a defined niche, with features tailored to a particular user group and use case.
- Exclusive marketplaces target limited, high-value collections and emphasize curation, access control, and premium user experience. Exclusive NFT Marketplaces you might check out: SuperRare, Foundation, KnownOrigin,…
Cost of different types of NFT marketplaces
As you already know a wide range of NFT Marketplaces that you could choose to build, the next step is to define which one would be most fit with your budget.
If you are going for the collectibles, the platform should be more secure than the open one, so you need to invest more money in it for security-related features. NFT Marketplace Cost for Collectibles may range from $60,000 to $250,000. Open and Premium Marketplaces may cost you less, varying from $50,000 to around $150.000.
Yet, remember that this is just approximately medium cost, and it still depends a lot on other factors such as the number of features you want to include, developers’ salary based on experience and regions, tech stack required, etc…
The table below shows the NFT Marketplace Cost based on categories for your reference:
| No. | NFT Marketplace Categories | Price |
|---|---|---|
| 1 | Open & Premium NFT Marketplace | $50,000 – $150,000 |
| 2 | Curated & Non-curated NFT Marketplace | $80,000 – $200,000 |
| 3 | Collectibles NFT Marketplace | $60,000 – $250,000 |
| 4 | Games NFT Marketplace | $100,000 – $250,000 |
Cost of must-have NFT marketplace features
As you may acknowledge, the cost to develop NFT Marketplace might greatly depend on the number of features and level of customization you want. In case you already have a list of features, let’s discover the NFT Marketplace cost per each feature with the table below:
| Functions | Hours | East Europe Rate ($35/hour) | West Europe Rate ($70/hour) | USA Rate ($100/hour) | Synodus Rate ($30/hour) |
|---|---|---|---|---|---|
| UX/UI Development | 42 | $1,470 | $2,940 | $4,200 | $1,260 |
| Log in, Security | 72 | $2,520 | $5,040 | $7,200 | $2,160 |
| User Profiles | 42 | $1,470 | $2,940 | $4,200 | $1,260 |
| Home Page | 84 | $2,940 | $5,880 | $8,400 | $2,520 |
| Search, Categories, Filters | 96 | $3,360 | $6,720 | $9,600 | $2,880 |
| Product Page | 42 | $1,470 | $2,940 | $4,200 | $1,260 |
| Reviews & Ratings | 48 | $1,680 | $3,360 | $3,360 | $1,440 |
| Cart | 48 | $1,680 | $3,360 | $3,360 | $1,440 |
| Payments | 42 | $1,470 | $2,940 | $4,200 | $1,260 |
| Notifications | 32 | $1,120 | $2,240 | $3,200 | $960 |
| Ethereum Integration | 96 | $3,360 | $6,720 | $9,600 | $2,880 |
| NFT Management | 96 | $3,360 | $6,720 | $9,600 | $2,880 |
| Assets Managements | 42 | $1,470 | $2,940 | $4,200 | $1,260 |
| Buyers’ Panel | 64 | $2,240 | $4,480 | $6,400 | $1,920 |
| Sellers’ Panel | 132 | $4,620 | $9,240 | $13,200 | $3,960 |
| Administration Panel | 85 | $2,975 | $5,950 | $8,500 | $2,550 |
| Total | 1063 | $37,205 | $74,410 | $106,300 | $31,890 |
Is there a difference in the cost of NFT marketplace development in different countries?
As outsourcing tech stack to agencies has recently been a growing trend, you definitely have more choices regarding NFT Marketplace Development agencies. Now you could imagine hiring a vendor outside your country’s border, yet still collaborating well and completing the tasks assigned. Now you might ask, “Are there any differences in the NFT Marketplace Development cost in different locations?”. For example, if I hire a company based in Vietnam and a company based in Europe, do the costs vary?
The answer is “It depends”. Fortunately, when we have considered the cost, we have found that the main features of the NFT marketplace have similar prices in different vendors located in different countries. The cost only fluctuates among companies because of the popularity of the companies (top-notch tech companies charge you more than tech starts-up), the range of developers’ salaries, and their work experience level, etc.
Cost of NFT marketplace’s maintenance
If you want to run your NFT platform for the long term, it is essential that you should pay attention to the maintenance cost. As your priority is always to ensure a smooth customer experience without any errors, you should check regularly your platform’s performance and fix any problems that might arise immediately.
| NFT Marketplace’s Maintenance | Cost ($) |
|---|---|
| Server Costs | $10,000 |
| Third-party Integration | $2,000 |
| Application Updates | $2,000 |
| Bug Fixes | $5,000 |
| Security Patches | $10,000 |
How to estimate NFT marketplace development cost
As the cost of NFT Marketplace Development is provisional in different aspects, it’s not easy to estimate exactly. However, considering thoroughly a list of the following aspects could be a great help:
Team composition
Setting up a team to develop NFT Marketplace is a must if you want to build in-house. The list of experts for NFT Marketplace creation may require: Solution Architect, Project Manager, Business Analysts, UI/UX Designers, Software Developers, Quality Assurance Engineers, etc. You could pay for them based on payroll, or split the tasks into hours and pay accordingly.
| Type Of Work | Minimum Time (h) | Maximum Time (h) | Average Time |
|---|---|---|---|
| Architecture | 900 | 1600 | 1300 |
| UI/UX Design | 180 | 220 | 200 |
| Total | 1080 | 1820 | 1500 |
Tech partner’s rates
In some cases, outsourcing a tech agency is a good idea when you do not have enough resources for this expensive investment. That means you should take tech partners’ rates into very thorough consideration. Rates of different tech partners also vary based on locations, expertise, and years of experience, etc.
The diversity and complexity of features
Most popular NFT Marketplaces have shared must-have features, which make the execution of purchasing and trading more efficient. You could check out these features first, and might then add on others. Please remember that, for a list of essential features, the cost could approximately the same in different vendors, yet the cost for added features might vary.
Tech stack required
The higher level of complexity is, the more complex the tech stack may be required. And for advanced technologies, it is obvious that you would be charged more. For NFT Marketplace, the tech stack required may include Blockchain Platform, Storage Platform, Token Standard, Wallet Integration, and Frontend Framework. Based on this list, you could choose which technology tools you want to opt for, and estimate the development cost correspondingly.
Testing, support, and maintenance cost
As mentioned above, the cost of testing, support, and maintenance is crucial as it keeps your platform in optimal operation conditions, don’t forget to include this expense in your NFT Marketplace Development budget.
Final thoughts
After reading this blog, hopefully you could already answer the question: “How much does it cost to create an NFT Marketplace?”. NFT Marketplace Development Cost is high or low based on your specific requirements, and the number of features you choose. In order to get accurate pricing for developing the NFT trading place, it would be best to approach NFT Marketplace Development Companies, and get the white-label NFT Marketplace customized for you. For that, you could choose a vendor that suits your needs best.
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