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What is stopping the growth of NFTs – Challenges and solutions

20 March 2023

Over the years, an increasing number of brands and users have been entering the world of cryptocurrency and NFT trading. Simultaneously, a steady stream of new Web3 startups has emerged, each touting some form of “revolutionary” concept. However, the reality is that many individuals who are solely focused on making quick profits may exit the market, while even successful Web3 businesses may falter.

While little can be done to address the issue of opportunistic traders, it is crucial to examine the reasons behind the failure of well-performing Web3 and NFT projects. Both established and emerging projects face various challenges. In this regard, it is critical to analyze and understand the challenges and to consider the comprehensive solutions provided by Niftables.

Challenges faced by users and businesses

In the world of NFTs, two primary types of users face various challenges: businesses seeking to join the Web3 revolution by initiating new projects or converting existing Web2 protocols, and creators looking to showcase their talent or artwork via NFTs. Regardless of the user type, launching an NFT collection can present numerous obstacles.

One of the most significant challenges to creating a successful NFT collection is underdeveloped infrastructure. This lack of development and options can ultimately limit the potential and growth of even the most well-positioned project. Although NFT platforms have made progress in accepting and resolving new challenges, infrastructure-related issues such as limited options and support systems still exist.

Another significant challenge for users is the barrier to entry. Given the complexity of NFTs and blockchain technology, beginners often face significant restrictions when attempting to enter the Web3 world. Even legitimate businesses may struggle to meet their NFT requirements due to a lack of knowledge, developers, and robust platforms. Similarly, creators may struggle to mint their first NFTs, and investors may struggle to find a convenient marketplace for NFT investment that does not require navigating to a separate website.

Niftables All-in-one NFT Platform Solution

  1. Whitelabel solutions

Whitelabel solutions have been gaining popularity in the Web3 world, and for a good reason. These solutions offer individuals and businesses the opportunity to leverage existing technologies and platforms to launch their NFT collections and projects with ease. One such solution that has been making waves in the industry is Niftables.

  1. Beginner-friendly API

Niftables is a platform that provides full-stack support to businesses and individuals looking to transform their Web2 protocols into Web3. From deploying projects to managing NFT collections, Niftables offers a suite of services to ensure a smooth transition into the Web3 world.

Here are just a few functionality you can find with Niftables

  • Full automation
  • Integrations into existing Web2 account services
  • Calls to see if a wallet or account holds a particular asset
  • Payment gateways for both fiat and crypto
  • Single sign-on via a Niftables or branded account
  • Asset distribution
  1. Niftables SDK

Niftables SDK provides an efficient way for developers, or those managing a team of developers, to build and work on their NFT ideas. This powerful tool can be utilized for building a new project from scratch or for integration purposes, such as API features. With Niftables SDK, developers have access to various functionalities, including NFTs with varying functionality, NFT marketplaces (both primary and secondary), NFT mint/burn functions, asset and account management interfaces, and payment management systems.

By leveraging Niftables SDK, developers can streamline the NFT creation process and bring their ideas to life more efficiently.

Qualities of SDK:

  • NFTs with varying functionality
  • NFT marketplaces (both primary and secondary)
  • NFT mint/burn functions
  • Asset and account management interfaces
  • Payment management systems
  1. Niftables SaaS

Niftables SaaS is perfect for non-technical individuals and businesses of any size to launch and manage their NFT collection without any development effort.

technologies, and services, ensuring seamless launch and management of your NFT assets. This solution provides a hassle-free experience to launch your NFT collection, whether you’re a beginner or an experienced creator. The platform is designed to simplify the complex processes involved in launching and managing NFT collections.

Simplifying NFTs for you

Niftables provides a comprehensive solution for users, creators, and business owners alike. With a single sign-in process, Niftables offers access to a full-pledged marketplace and all-in-one Whitelabel NFT solutions. This allows users to work on their ideas without any external concerns. Niftables offers a range of services to ensure that all aspects of NFT creation and management are taken care of, providing a hassle-free experience. Sign up for Niftables today and let us take care of everything!

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