A whitelabel NFT marketplace solution for Web3 Pro™ : 10+ major brands are already using the platform

Our team has created a custom whitelabel NFT marketplace solution that enables popular brands to swiftly create their own marketplaces and sell NFTs and helps users to purchase and trade NFT assets.

Customer

Industry

Information Techonology

Region

USA

Client since

2021

The client provides brands with custom blockchain solutions that help them achieve increased revenue and engagement by monetizing their digital identity through NFTs.
Detailed information about the client cannot be disclosed under the provisions of the NDA.

Challenge

Non-fungible tokens, or NFTs, have become overwhelmingly popular among brands as another way of gaining recognition and revenue from customers. These tokens allow for proving the authenticity and uniqueness of particular products, which makes them valuable for collectors and those who want to possess exclusively authentic products from their favorite brands.

Our client came up with the idea to create a specialized whitelabel marketplace solution in order to simplify the process of integrating NFT tokens into brands’ markets and making the process of buying these tokens more flexible and easier for users.

The solution is supposed to enable:

popular brands to create their own NFT marketplaces;
brands to create and sell NFTs;
users to purchase and trade NFTs.

Solution

Innowise developed from scratch a versatile whitelabel NFT marketplace platform that allows users to create, buy and sell NFT assets via web and mobile applications.

Web application

The solution allows brands to create, manage and put their NFT assets for sale. Users can put and withdraw already owned NFTs for sale, buy them directly from brands or other users, or participate in auctions.
Upon clicking on the item, they are taken to a section with more detailed information. There they can read a description of the item, have a closer look at it, and see all the listings for it.
By clicking on the “Show Listings” button, a user can see all the listings and the information about them: the serial number of the listing, its owner, the best offer (if the item is put up for auction), and the current price of the item.

To enable NFTs trading, we developed an algorithm that allows selling tokens through smart contracts and implemented the functionality of payment by bank card or cryptocurrency.

Mobile application

The mobile app enables users to manage the NFT assets they already possess, buy new ones directly from the issuers and other users as well as participate in auctions.

Users can get all the information about NFT items as they would from the web application: the general information, which expands when a user taps an item.

Also, the application has the feature of packing different items into one bundle. The application interface is simple and intuitive so that any user can get used to operating the application quickly and easily, no matter which platform (web, mobile) or side (brand’s or user’s) is considered.

Private blockchain

All the operations with NFTs are primarily conducted on the private blockchain designed by our specialists. The blockchain platform is EVM-compatible which means that it’s interoperable with any other blockchain based on the Ethereum network. Our solution allows brands to mint and distribute their digital assets in a swift and cost-effective way.

Admin panel

Each brand has one or several admin accounts related to its NFT marketplace tenant. Admins have a wide range of tools for operating their marketplaces.

Customizable UI. Through the admin panel, brands can customize their tenant’s interfaces. For example, altering backgrounds and button colors, fonts, logos, etc.
Custom fees. Each brand can customize platform fees for purchasing and reselling NFTs. They can be set as fixed numbers (e.g. 5 dollars when buying an asset with fiat via Circle) or percentages (like a 1% fee for buying 0.02 ETH worth of NFTs);
Avalara integration. To automate tax calculations (especially when payments come from various regions), brands have access to the Avalara automated tax compliance solution;
Gas fees calculation and deduction. The platform developed by Innowise automatically calculates gas fees for transferring an NFT to a customer and includes these expenses into the final invoice at the checkout;
Bans. To prevent malicious activities like synthetic price increases or money laundering, marketplace admins can ban accounts showing suspicious actions. If the account owner proves they have not violated rules, they can be unbanned.

Technologies & tools

Back-end

PHP 8.1, Laravel 9

Front-end

ReactJS, VueJS

Mobile

Flutter

Blockchain

NodeJS, EVM-compatible private L2 blockchain

DevOps

Amazon SQS, AWS, S3, EC2 (with an option to move to any other cloud), Kubernetes, Terraform

Database

Amazon Aurora, MySQL, PostgreSQL, MongoDB, Redis

Architecture

Porto, Multitenancy

Platforms

Web, Mobile

Process

The client had a clear vision of how the application should work but needed assistance in understanding how to create it.

Due to the close cooperation of our Business Analyst and Project Manager with the client, we managed to turn the concept of a whitelabel application into a fully functioning flexible platform for selling NFT items for both crypto- and fiat currencies.

As far as the development process was concerned, we resolved all issues:

created the design of the whitelabel solution and its architecture;
offered ideas on the platform’s functionality and their implementation;
created and deployed custom NFT marketplaces for the Web3 Pro™’s contractors).

Discovery phase

At first, our team analyzed the client’s requirements, explored the ways of implementing the solution, and determined the most suitable tech stack.

We designed a mock-up of the platform, created a detailed plan for the development of each module, and agreed on a workflow with the client. To get an accurate estimate, we created a detailed plan for the development of each module and agreed on the workflow and priority of features with the client.

Also, our development team brought up an important point in terms of user experience and the overall fairness of the platform. We needed to ensure the timed sale system does not adjust the timers to different time zones. Thus, users from the US would get an opportunity to buy limited assets 6 hours earlier than those from Germany.

Technology choice

Based on the specifications and requirements, we recommended the technologies and frameworks that perfectly suited the client’s needs.

We’ve chosen a domain-driven approach to software design (DDD) which allows us to easily add new modules or cut out unused ones when it’s needed. Each feature is a separate module in a different container that allows for flexible customization of NFT marketplaces and adding custom features at request without the need for rebuilding the solution.

Flutter was chosen as the main programming language for platform development. It allows for more comfortable and rapid development and QA processes since the application versions for different platforms are based on a single code instance. All the changes in the code are automatically applied to all platforms, which speeds up the updating process, and fixing bugs in the codefor all the platforms as well. This reduces the costs of development and QA significantly.

Security

Participation in auctions is regulated by the Know Your Customer terms. To keep users’ data safe, we’ve implemented the Onfido API.

To make the process of interacting with NFT items easy and secure, we’ve also implemented a set of solutions:

MetaMask to make NFT tokens available for withdrawal from the platform;
Coinbase for payments with cryptocurrencies;
Circle for payments with fiat money.

Also, to block any malicious activities like illegal content distribution, brands pass the inner validation process each time they mint new NFTs.

MVP Development

After the agreement on the work breakdown structure with the client, we got down to developing the MVP. We delivered module by module every two weeks, discussed tasks in Slack, and had tasks tracked in Jira.

As part of every development phase, we conducted unit and manual testing, so we could detect and fix even the smallest bugs at the earliest possible stage, preventing them from turning into bigger issues.

As a result, after 4 months of work, our team has presented an MVP. The minimal viable product represented a combination of B2C and C2C NFT marketplace platforms allowing businesses to launch limited-time sale events for distributing branded non-fungible tokens.

Also, the MVP possessed such features as

KYC verification;
Support of Circle and Coinbase payment gateways;
Custom public IPFS node for storing NFT media files.

Further improvements

After the MVP release, our client started the first timed NFT sales round which took approximately a month. During this time, Innowise:

implemented the rewards feature which allows brands to motivate users to buy their NFTs by offering free extra tokens for completing certain actions (e.g. buy three get fourth for free);
managed to make the system more stable in work if compared with the MVP build.

For the next six months, our software engineers have been releasing numerous features to bring the product to the complete release stage. This included:

Implementing the tenant structure into the solution so that newcoming brands could easily launch their own marketplaces utilizing a single codebase with no need in duplicating it;
Adding the collections feature that allows brands to create NFT collections and users to gather related digital assets and track their collector progress. Also, brands can set collection-related rewards (e.g. complete the collection and get an ultra-rare NFT);
Introducing bundles that allow selling multiple NFTs at once;
Implementing the auction functionality;
Finishing the admin panel where brands can customize the UI of their marketplaces.

Upscaling

After implementing the product features, Innowise has taken load resistance as the next primary task. To make the platform reliable and responsive even under the highest possible traffic loads, we have reworked the solution’s cloud architecture. From this point on, it can hold up the enormous (up to 5 million) amount of users simultaneously.

For further improvements in load resistance and balancing, we are currently investigating other cloud service providers to see whether it’s possible to upscale even more.

Final product

As a result, we have created a fully working product that allows launching new NFT marketplaces on a whitelabel basis in less than 2 days including 1.5 hours for creating a new tenant, around 10 hours for gathering and analyzing client requirements, and approximately 8 hours for implementing the requirements.

Team

Back-end Developers

Front-end Developers

DevOps Engineers

Mobile Developer

Blockchain Developer

Business Analysts

UI/UX Designers

Project Manager

Manual QA Engineer

QA Automation Engineer

Results

As we’ve conducted a deep analysis of the client’s intentions and needs, we’ve come up with a whitelabel platform that allows brands to rapidly create and deploy their own NFT marketplaces for storing NFT items, putting them on sale, and bundling them. The application’s design allows for comfortable usage of the app for users with any level of experience, which makes the service available to a wide audience. A broad range of payment methods also support this availability.

The product has already gained the trust and interest of a wide range of recognized brands, which resulted in some of them becoming partners and users of the service. Now our team is working on adapting and customizing the marketplaces for the contractors of Web3 Pro™.

Project duration

14 months for a complete whitelabel SaaS platform product launch including

1st day — idea
1st month — proof of concept
5th month — a functional MVP launch
6th month — improving the platform’s stability,
implementing the rewards feature
12th month — introducing new features
14th month — improving load resistance

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A whitelabel NFT marketplace solution for Web3 Pro™ : 10+ major brands are already using the platform

Customer

Challenge