The initial concept and idea of NFTmall have developed some time ago in Mid 2020, as I have been a crypto investor and researcher and was researching existing NFTmarketplaces and their limitations. I came to realise that monopolies and international entities were taking advantage of creators/Artists for many years by creating a huge barrier to entry! For example, traditionally, Artists have to physically produce a piece of artwork, get it accepted by a gallery, promote the exhibition and sell it.
Also, in the case of a verification test, the authenticity of an Art is determined by an Art expert panel by carrying out costly tests! This complex process involves a considerable barrier of entry and hinders creativity; as a result, creators often don’t get enough exposure and have to market their work instead of focusing on creation. The traditional approach hinders creators, but it also hinders creativity in general since younger artists may not afford the entry requirement to use the various platforms.
The Key Journey
This problem can be overcome using blockchain technology to synergise Defi and NFTs since It simplifies ART creation in NFTs and logs entry of an ART piece/ NFT in the blockchain, which can't be counterfeited and rewarded relatively. It affords artists or creators alike the chance to create and earn royalties in perpetuity. And thus create a level playing field for talented individuals. Since it’s a very new concept and the market for digital items starts to generate. Existing top-tier digital items / NFT marketplaces do not fully satisfy the needs of their users. They do not solve the issue by having high platform fees to mint or list, Primary and secondary sells, and even royalty fees for creators who are not independent usually chosen by Marketplace!
Also, most of them are not decentralised and require application and permission. More importantly, none of them offers or Provides a solution to the Physical redemption/materialisation of NFTs! Thus, they act as a monopoly for users and possess a high barrier of entry and fail to create a fair & level playing field for their users (creators, collectors, and traders). By deeply considering the limitations of existing marketplaces, I was stirring at the market gap and had to pick up the challenge to provide a solution which I called NFTmall.
"NFTmall is the answer to the existing limitations of the traditional art gallery and NFT marketplaces. A multi-chain NFT marketplace & launchpad with NFT materialisation service."
-- MD Rakib Ahamed (Founder & CEO)
I always believed in all-in-on solutions. When you plant a good foundion, the buildings on top are strongs, and can be multiplied. NFTmall offers just that, a multichain platform for the NFT space. Besides that, we're already working on adding a second layer of non-fungibility to digital art, by enable the ordering of them as pyshical copies.
We're here to florish.
-- Yair Haimson (Business Development Manager)
