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Non-Fungible Tokens (NFT)

Non-fungible tokens are delivering yet another innovation in the blockchain space. With NFT platform development, businesses can build their own interchangeable token platform on which just about any digital asset can be tokenised.

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What is an NFT?

An NFT (non-fungible token) is a unique, non-replicable digital certificate that proves ownership of any digital asset. Most commonly, the token is an ERC 721 that is hosted on a blockchain and backed by a smart contract.

Any digital asset can become an NFT, including collectibles, art, music, videos, and even tweets. Because each non-fungible token is unique, it can’t be divided or replaced but can be resold to someone else in the marketplace.

Our NFT development services

Crypto collectibles

Collectibles such as precious art and rare whiskey can be bought and sold on the blockchain, with a limitless number of crypto collectibles available. NFTs are used to verify and track ownership of these assets, and they can’t be swapped.

Blockchain games

Blockchain is shaking up the gaming industry, with NFTs giving players the ability to take real-world ownership of digital assets purchased in a game. The decentralisation of the game gives players almost unlimited freedom.

Open market/trading place

Open market/trading place platforms give users the opportunity to buy, sell and trade crypto assets using 0x protocol (an open protocol that enables peer-to-peer exchanges on the blockchain).

Identity management

Non-fungible tokens are suitable for identity management or KYC where a particular token will be owned by any entity. The distinguishable characteristic of NFT can prove ownership of assets in a trusted manner.

Software license management

Software licenses can be represented by an NFT number, where the owner is easily able to authenticate and transfer the token if necessary.

Asset LifeCycle management

Buying and selling any assets and transferring that token to somebody else becomes a secure, seamless process with non-fungible tokens. This includes anything from cars to artwork, property and content.

A proven, tailored approach

We’ve streamlined the NFT platform development process so you can stay a few steps ahead of your industry. Our services are designed to maximise efficiency and minimise risks, while building the most effective solutions from the industry’s best developers.

Define the roadmap

Your roadmap is defined by your business’ goals and the steps we need to take in order to get there. This stage includes estimated timelines along the way.

Define the target audience

We’ll find out more about your target audience through conversations with you and our own market research. That way, we can uncover the best ways to solve their needs and provide a detailed audience report.

Identify the necessary security requirements

The security of your business is a major focus for us, and we don’t start the project until we have a complete security and risk assessment in place.

Define the features & functionalities

Our web developer works with you to define how users should interact with your NFT platform, to come up with the features and functionalities that will make it as user-friendly as possible.

Deep dive into the technology

This is where we work on the technology that powers your solution, including the development environment and structure of the platform. We’ll talk you through everything you need to know, even if you’re completely new to all of this.

Create a visual guide

Our design and development teams create a guide to showcase what your users will see when they interact with your non-fungible token platform. This helps us to optimise the user experience at every stage.

Product development

Once you have approved the interface, we’ll kickstart development. All functionalities will be implemented inline with what was previously defined.

Live testing

Once we’ve gone live, we’ll carry out beta testing and bug fixing. Our aim here is to make sure the product works as it should do, is free of bugs, and has a robust level of security.

Our Clients

Backed by our partners

We work with leading blockchain technology experts in Australia and around the world. This puts our clients in the most beneficial position, as their combined skills and expertise will power your project. Working together, you can get access to the support, strategy and funding you need to drive success.

Protocol partners

Contact us

For more information about non-fungible token development, or to access our consulting services, contact Blockchain Australia™.

Send us a message

For more information about non-fungible token development, or to access our consulting services, contact Blockchain Australia™.

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Frequently asked questions

An NFT platform works like a digital “marketplace” where people can buy and sell non-fungible tokens. They can host the trade of anything from digital art to collectibles, virtual games and real estate. Non-fungible tokens can usually be transferred between platforms, browsers and servers, but they each have a unique code that works as a signature to authenticate the token on any platform.

Crypto collectibles are a type of non-fungible token. They describe digital assets that people can collect, such as fine art, gaming assets, certificates, and sports memorabilia, where ownership is verified and authenticity is confirmed. Users usually buy these tokens for investment reasons, or because they have a strong affinity to a particular brand or asset.

Non-fungible tokens are trending in the marketplace and we can’t see any signs of them slowing down, which is why new and seasoned investors want a piece of the action. You can launch a basic ERC721 on blockchains, and each platform will have a unique step-by-step guide.

You’ll need some knowledge of the crypto space, and can reach out to Blockchain Australia for help.

Fungible tokens are those that represent a standard value that can be traded in a like-for-like way, such as the Euro or the Australian dollar. They’re interchangeable and not unique; you can swap $5 for $5 and would still have the same value. Non-fungible tokens represent a unique asset (like ownership of a painting). They are not interchangeable and don’t hold the same value as other tokens of the same type.

The internet is an ever-growing platform that encompasses every part of our daily life. Blockchain is playing a huge role in transforming it.

Ralph Kalsi

Founder and CEO, Blockchain Australia ™