Big brands, entertainers, and athletes all want to break into the NFT universe, but they don’t know where to start. In episode 58 of the Neo News Today podcast, GhostMarket founder, Vincent Geneste, talks about some of the most popular questions he has received from celebrities and brands:
A lot of big brands are looking to get into NFTs. Like I said, they know NFTs are here, they know they don’t want to miss what’s happening, but they have no clue what they’re doing. And quite often, they’re looking for a place where they can promote and sell their own branded NFT collectible.
Newcomers want to mint NFTs, but often don’t know where to start. There are many factors to consider, such as which blockchain to use, how to onboard users, how to store NFTs, and whether or not they should incorporate auction capabilities, among many other questions.
According to Geneste, new would-be NFT creators have two common concerns when choosing an NFT platform.
First, many are concerned with the potential adverse environmental impacts proof of work blockchain networks may have. Geneste says, “This is one of the most important criteria. And this is one of the reasons some artists don’t go to Ethereum, because up until now, Ethereum consumes a lot of resources.”
Secondly, new partners are are looking to chose a platform that will make it easy for them to attract buyers. Creators don’t want to be diluted among thousands of other NFTs and artists. They want to be able to differentiate themselves. According to Geneste, this has led to a rise in white-label NFT stores.
For example, GhostMarket recently collaborated with filmmaker Kevin Smith. Smith rose to popularity in the late ’90s and early-aughts with films like Clerks, Chasing Amy, and Jay and Silent Bob Strike Back. As part of the partnership, GhostMarket is designing a platform for Smith to sell NFTs. The first will contain a copy of Smith’s upcoming film “Killroy Was Here” and will give owners the rights to exhibit, distribute, and stream the movie.
Geneste says there aren’t many platforms offering this white label solution, but the ones that do are beginning to stand out. For example, OpenSea recently raised US $100 million in traditional venture capital funding.
Looking forward, the GhostMarket founder intends to offer services on the platform that help build similar marketplaces for other clients. He says, “We provide a way to spin up your own, customized and branded marketplace running on top of our existing infrastructure, but it can be fully customized for the customer or artist’s needs.”
The full interview can be found below: