5 Major Problems in NFT Platforms

NFT which stands for non-fungible tokens is dedicated to digital artists, who can sell their digital art or content. These are being sold in auctions or online markets, commonly known as NFT Marketplace.

It is a very versatile platform that is changing the traditional way of selling artworks. It is giving access to everyone to sell and buy digital artwork in a very quick manner. However, even with all the futuristic things, there are several common problems faced by both buyers and sellers in the current NFT ecosystem.

These problems are working against the development of NFTs and also keeping a wider audience away from the NFTs. However, these problems are not difficult to solve for the modern tech-savvy world. In this blogpost we are enlisting all those problems and we are also describing how NexonNFT— a blockchain based NFT project — is solving all these known issues.

5 Major Problems in NFT Marketplaces

No one is caring about UI and UX

UI stands for User Interface and is the point at which human users interact with a platform. Effective UI aims to make User Experience (UX) easy and intuitive, requiring minimum effort on the part of the user to achieve maximum desired results. Current NFT platforms don’t have easy to understand and use UI and UX for sellers and buyers that is making the path a bit tougher.

It can be easily solved by putting in some extra efforts while developing and designing. It can be even done when the project is live, but businesses who own NFT marketplaces are paying more on transactions and less on users.

Poor customer support

The NFT world is still in the development stage but one thing that is hurting it more is the customer support provided by the NFT platforms. There are various companies and individuals in the market, and it has been observed that while companies are now focusing more on revenue and growth, individuals are not able to provide timely customer support. Customer support channels are poor and in some cases it even does not exist.

Limited payment methods

At the present time, many platforms are not able to accept payment in bitcoin as well. Yes, they are accepting traditional payment options like credit cards, debit cards, internet banking, wallets etc. But perhaps the industry needs a platform that can overcome this limitation and accept payments in cryptocurrencies.

NFT Marketplaces are Confusing

NFT marketplaces are really confusing, as there is not proper guidance regarding many things in this industry. Moreover, these markets are not well organized, which also makes it difficult to navigate from one category to another. These problems also make buying and selling artwork complicated.

Non-transparent fee structures

Since there is no governing body on these platforms, the fee is somewhat extra, over which the site has complete control. The process of selling NFTs can also involve large fees that first-time sellers may not be aware of, which can cut profit margins or even lead to losses.

Fees fluctuate between sites, with many popular sites charging users to sell and buy tokens as well as a gas fee for generating tokens. Most platforms also require a digital wallet, so users should take into account the conversion fee between the different forms.

How NexonNFT is Solving all the Above Problems?

NexonNFT has a team of professionals who know how to build a platform that people love. We will take care of all the basic things and especially on navigation that will make things very smooth for buyers and sellers.

Next, We are keeping everything transparent and organized. From fee structure to guidance and process we are keeping everything accessible to all the users. We are providing clear guides to help buyers and sellers. Additionally, by introducing Nexon Pay and Nexon Token we also solved most of the payment-related problems.

NexonNFT is providing opportunities to everyone to grow together. You can invest in NexonNFT to access all the benefits and generate good returns on your investment. So, what are you waiting for? Buy Nexon token now.