hello there do you want to build your own nft Marketplace perhaps you have a unique idea for nft platforms for loans NFC marketplaces for celebrities nft Marketplace for gaming industry or even an AI based nft Marketplace for Asset Management well stay with me because I'll give you a step-by-step guide on how to do that quickly and save your money my name is Dennis babish and I'm the director of a software development company in this video I'll show you how to test your idea how to perform your competitors hire the greatest team and save money along
the way all this knowledge comes from my agency's expertise successful businesses and top tier practices combined into one ultimate system let's get started first let's start from juice or your killer feature right now is the best time of AI utilization and tools like Lang chain hanging face and others might be super useful for you picture this your users all always want to purchase the best nft to making money with it but their struggle with searching the relevant information and decision making process what if you can create an AI assistant that can grab the information from
different sources I mean users can share their favorite Twitter channels YouTube and telegram bloggers with their knowledge and recommendations then your launching will transform these data into a vector format and give your users data driving recommendations regarding purchasing nfts this is only one simple thing that you can create with scouting Hai Technologies right now anyway if we already know how to create your killer feature we still have to create the basic website or mobile app for that let's start by identifying the core components of your nft Marketplace depending on your business goals it might include
the web app mobile app and the web super admin Zone the the mobile apps will have the functionality such as login Marketplace search and buy sell trades create nft Mobile Wallet connections and so on the web app might have almost the same functionality like mobile app but keep in mind that in some niches you don't need a web app the web-based admin Zone will provide functionality such as user management verifications payment management analytics security and more so let's dive straight into the essence of your software development Voyage creating a rock solid MVP minimum viable product
is your golden ticket to the software Journey so was the Sans picture based you're aiming to build an nft Marketplace you're looking at user app web app and an admin Zone but hold on a minute do you truly need a web app right now could you perhaps create a simple mobile app with one or two functions same thing for an online nft creation process and that user following artist feature is a third urgent maybe it's one of those things that can wait until our version 2.0 look this MVP approach isn't just about speed it's tailored
for efficiency by focusing on selecting features and possibly one unique killer element we're talking about a streamlined development process optimized resources allocations and an effective marketing test run and here's the kicker once your NDP is up and running Gathering a user base then it becomes a magnet for Angel Investors Believe It or Not validations can Skyrocket to 1 million dollars or more especially if you're making combination of cutting a Technologies like crypto a ivr and so on so the bottom line MVP isn't just a buzzword it's the sacred recipe and we're about to master it
so let's talk about pricing when it comes to identifying the price for your software there are several things you have to keep in mind such as quality assurance bug fixing project management maintenance and risks estimating the cost of developing unique features at this stage can be quite challenging but don't worry I'm here to provide you with pricing for the basic MVP functionality here's a pro tip for you if an investor contract requires an in-house development team you'll need to allocate a budget based on us or EU rates however you always have the option to Outsource
EOS software development expenditures to Ukraine which can be a significant Game Changer when you are seeking value for money Ukraine is an absolute Hidden Gem in the software development World many successful startups such as gitlab grammarly and Jubal have already recognized a huge value of hiring Ukrainian developers to build a top-notch software Ukrainian developers have excellent English skills extensive experience in Outsourcing development strong math background they have Innovative thinking which help them all always think outside of the box on top of that they are hard workers okay so the most pressing question you might have
right now is probably about which features to include in your MVP and how to prioritize them properly and the answer is super simple follow the methodology that I'm about to share with you this comprehensive methodologies that I've developed after 10 years of experience will assist you in identifying essential features making the pricing accurately finding the best execution team out playing competitors achieving your product Market fit and saving a significant amount of resources moreover it will shed light on why the app price can range from 10 grand to 50 Grand buckle up let's dive in so
the first step is the business plan and this is where the modified link canvas comes into play It's like a business plan on a napkin that uncovers all hidden aspects that you need to focus on this business plan will take something about an hour to prepare next the order of these boxes that you see on the screen and the process flow is crucial it's been created After experiencing with 1000 plus lean canvas workshop with my client so it starts with understanding your user groups and their main pain points what are their struggles what issues can
your service address and make their lives easier next explore your competitors and the solutions they offer identify their advantages disadvantages and there are strategies that you can adopt your goal is to find the space where you can outshine your competitors by creating a unique solution for your specific Niche without Reinventing the well now let's talk about your unique and fair Advantage this is the powerful factor that sets you apart from your Rivals it could be your cheap developers marketing insights EI Advanced utility realization advisor report strong Network and so on okay once you've identified your
unique age it's time to Target your early adopters these individuals who will be the Pioneers who will test your service and give you the most valuable feedback at early stage discover where they spend their time online and create a cool marketing hook to engage them give them something truly unique and Powerful broadcast your unique offer via social media influencers or just regular Google and Facebook ads by keeping a close eye on how your app's doing and really diving into the feedback from your users You Can Shed the light on what's need to be changed or
improved also if you are interested in learning more about lean canvas and get insights from 1000 plus workshops I've created the full video about that link in the video description next don't just think about the present plan for the future and envision Global growth an international expansion of your platform having a Clear Vision for your app's future in Fiverr 10 years is crucial for attracting investors and achieving unicorn status if you have any questions please leave them in the comments section below I'm always excited to help you out and I'll personally review each comment also
don't forget to hit like button and subscribe to stay updated and gain more business insights thanks one of the most crucial steps in creating your startup is achieving a product Market fit believe me it's a game changer so how can you offer Innovative and disruptive solutions that others the pains and gains of your target audience while completing your value proposition table is the key to achieving that picture this you have an exciting idea for your own NXT Marketplace like open C but for loans and asset management before starting this software development phase it's important to
identify pains and gains of your users it it could be something like transparency issues liquidity issues risk management problems and complex reporting once you've identified all these issues it's the perfect time to leverage your platform to tackle them you can provide Solutions such as nfg tokenized system of your clients assets and reports guaranteed withdrawal system EI based helper for asset investment simple AI chatbot for understanding where's their assets and why they've been invested into this or that look when you prioritize the platform value for your audience on front and keep that at the core of
everything you do you're setting up your business to become a money making machine remember small companies and startups can easily outperform industry leaders by being agile flexible and focusing on unique problems and local niches you don't have to compete with everyone in the market instead concentrate on a specific audience and provide them with the best possible value and always keep in mind that it's crucial to fall in love with your customers problems and not just your Solutions alright if your goal is to create an app that can outperform your competitors and satisfy your clients then
it's crucial to do your homework and conduct proper competitor research look at the industry Giants for inspiration they've mastered the game and you can learn from them by studying their user flows and proven methodologies remember there's no need to run when they will completely however don't limit your research only to the big players expand your scope and explore startups in smaller niches and different countries you never know what you might discover there could be a Hidden Gem that gives you a Competitive Edge in the market trust me this exploration could be the most beneficial factor
in your startup success on top of that you can learn which startup ideas was successful and which one fails so the idea here is to grab inspiration from different markets and combine it with your Cutting Edge new technologies if you need assistance or support feel free to reach out to me through any of the contact details listed in the description below I'm here to help you and I'd be Delight to share my Niche knowledge that could significantly impact your startup success let's out perform competitors together OK once you've done a deep dive into your competitors
pinpoint at all your customer issues and come up with a bunch of solutions it's a perfect time to properly prioritize your software features you'll have to figure out which features are must have should have could have and won't be developed this Savvy approach not only gives you a solid game plan for the essential features your app needs without boosting the budget but it also lets you pivot as necessary without burning through all your resources plus it helps you with finding the path to your app score idea and crystallize your project main objectives translating them into
the software features that should be on your development list when it comes to creating an MVP for your app it's important to keep your focus on what matters most to your users and that's where a story map comes into play with a well-crafted story map you can break down the user requirements and map out the essential features that need to be developed and launched quickly but hold on there's more to ensure maximum user engagement and satisfaction it's important to develop separate story maps for each user type think of it as providing each user group with
their own treasure map guiding them directly to the features that are most important to them by doing this you can identify the specific needs of each user group and prioritize the features accordingly this way your MVP will mean their crucial needs and provide the best possible value at this stage thus the real power of a store map lies in its capacity to help you save fonts on one side while simultaneously enabling you to concentrate on providing the most value to your audience at the right stage on the other side marketing is one of the most
significant challenges in the crypto industry however once you understand these three simple Concepts the task becomes much more manageable so what should you know firstly the most effective way to promote your crypto project is to implement a real form of fear of missing out mechanics within your app that motivates your users to try it immediately secondly when it comes to promoting your app the ultimate goal is Word of Mouth however in the initial stages consider investing in ads utilizing popular YouTube and Tick Tock crypto influencers lastly and most importantly it's essential to establish a proper
token economy within your project if you're planning creating your own token as an asset then you should have a really strong marketing campaign to screen about your project its value future features Global growth and international expansion so are you interested in delving deeper into the world of startups Ai and businesses do you want to connect with business-minded Founders and entrepreneurs where I share tons of insights and host live chats if so click the link in the video description and join me on my telegram Channel right now alright let's talk about wireframing wireframes are the blueprint
of your app's business logic where you create every possible user cases and scenarios it helps you uncover all the hidden or unexpected user flows for example let's say you're in the process of creating your nft platform you've covered the basic functions like user authentication Marketplace functions crypto wallet connection and so on but what about situations where the user want to sell their nft only at specific day and time have you Incorporated a feature or a functionality to manage such scenarios these are the type of issues where a wireframe will help you identify potential gaps look
once again the wireframe serves as the foundation for your app's functionality and user experience and it's crucial to make this Foundation Rock Solid next let's delve into the UI design of your app there are two key aspects to consider firstly the UI design should cater to users of all age groups so the UI should be modern but not too fancy secondly and most crucially your UI design should facilitate users in solving their problems with the used clicks possible because each additional click will cost you a user and their engagement so your job is to incorporate
well-known icons design intuitive elements and their location and the simple color scheme that will help your users swiftly and effectively navigating your app forget about branding fancy logos and other visual design nonsense at the early stage this won't bring value neither to you nor to your customers Center Your Design around your user problems minimizing clicks accelerating user or goal path and simple but modern design Aesthetics here's a helpful Pro tip for you to generate really cool UI design style and ideas explore portfolios on websites like behance or durable search for crypto apps and incorporate design
elements that catch your attention and remember what Picasso said good artists copy great artists still if you found value in these tips please show your support board by hitting that like button and subscribing to my channel your support will boost this video visibility in the YouTube algorithm and you don't miss any valuable business videos from me thank you now let's delve into the tech stack this is one of the most crucial aspects when creating an nft platform therefore choosing the right Tech stack is vital to avoid challenges such as slow user interfaces non-scalable and to
non-maintainable Cloud infrastructure high costs payment and subscription issues and the risk of your app going offline during traffic spikes so if you're planning to create an aft mobile or a web app it's essential to select the appropriate text tag that enables rapid development of your minimum viable product flutter or react native are excellent choices for the mobile app development for back-end development a combination of ethereum solidity and Parton Jenga node.js lost Amazon web services for basic functions are perfect options of course you can create your own custom blockchain which will cost you a dollar but
this is a vital strategy in a really long run look your objective is to quickly create the MVP product but you should also consider a comprehensive software architecture plan to ensure you can expand and scale your product in the future some tools are necessary in the early stages while other become essential later on in any case choosing the right Tech stack is like receiving an accurate diagnosis after a blood test alright let's discuss the agile process one of the most powerful methodologies out there that can significantly speed up your development process however did you know
that in some situations it can actually slow down your project by up to 30 percent picture this you have a team of five developers who stand their roles communicate effectively and have made significant progress in coding the product they could use Simple tools like Trello Asana Google Docs and Google meetings however as your team expands to 15 or more people you may face some challenges such as losing your key developers complex and time-consuming onboarding processes reduced team productivity communication issues missed deadlines and a decline in code quality and architecture to avoid these problems it's important
to hire a tech lead to oversee the team and code architecture find project manager with stack the ground Implement scrum Sprints backlog and retrospective processes conducts daily standups to keep everyone updated on pending tasks utilize Advanced tools like jira to manage tasks and track your team velocity choosing the right tools at the appropriate stage can accelerate your your progress towards achieving your minimum viable products however keep in mind that even the best tools can lead to failure without the necessary knowledge or expertise another Pro tip for you the agile methodology can be a valuable asset
not only for your software development Journey but also for daily tasks business and marketing it's a truly powerful tool collecting user analytics is a crucial practice in the tech industry allowing you to uncover essential metrics like unique visitors user behavior and session frequency utilizing powerful tools such as Google analytics session stack Firebase and mix panel will enable you to gather this data by consistently tracking your app performance and analyzing your users feedback you can pinpoint areas that require improvements to ensure your users satisfaction alright if you're thinking of creating a mobile app or a web
app but you're not quite sure where to start and you need some advice on how to start and outplay your competitors feel free to shoot me a message like calendly and we can have a 30 minute call trust me I'll be more than happy to share some Insider knowledge and expertise with you that could be a real game changer for your startup so what you're waiting for let's make it happen see you
