Hi Webby Awards judges, this is the case for Algorand
Brands have been missing a straightforward way to launch an NFT marketplace to leverage the benefits of unique digital assets. DEPT® created the first-ever open source, white-label solution for launching an NFT marketplace, built on top of the Algorand blockchain.
Taking advantage of a massive opportunity
NFTs allow brand loyalists, collectors and investors to own and engage with a piece of virtual brand property. The market for these virtual goods is expanding exponentially. For brands, digital possessions are a game-changer in terms of engaging, connecting and creating value with their audiences. Why? Because collecting is something that humans have done throughout history. But now, the ability to digitize and certify memorabilia gives brands new ways to provide authentic experiences to consumers. This is especially valuable as brands compete for customers on a fully digital playing field.
NFTs also represent better monetization for creators and a more intimate connection with consumers, all while providing more financial utility to the owners. At the end of the day, it’s a fundamentally better distribution method that brands can leverage to generate new and increased value.
Unfortunately, today’s technology, blockchain complexities and required expertise make starting from scratch with NFTs extremely difficult and costly. Brands need an out-of-the-box solution that makes it easier for them to enter the market. Together with our long-time client, Algorand, we recognized the need to lower the barrier to entry to allow brands to take charge of their digital assets and how their users engage with them.
DEPT® created a ready-to-use platform called Algomart to assist brands in getting started with NFTs. Algomart is an open source platform built on top of the most cutting-edge blockchain technology from Algorand in order to quickly create unique and user-friendly experiences. Algorand is an attractive infrastructure on which to launch these marketplaces as it is eco-friendly, scalable, and offers inexpensive transaction fees
Algomart provides core modules that can be used out of the box and enable brands to easily create new models and experiences, whether it’s engaging with customers through auctions for digital collectibles, creating NFTs to engage with gamers in the metaverse, offering something redeemable in the real-world or blending physical and digital experiences. Brands can get started easily, as the development and deployment experiences use cutting-edge infrastructure like Terraform and Docker.
Additionally, Circle allows brands to remove the complexities for marketplace users creating and funding crypto wallets, so users can use a credit card like any other ecommerce transaction.
The entire ecosystem of blockchain and NFTs is going to bring people closer to the brands they love and open a whole host of new experiences.
Anne Marie Gianutsos, CMO, Drone Racing League
Bringing people closer to the brands they love through NFTs
Since the launch of Algomart, DEPT® is in discussions with a number of brands to launch an NFT marketplace, including global sports brands, lottery games, fantasy sports providers, food and beverage companies and more.
Motorsport Games used Algomart to launch its first ever NFT marketplace for its live Virtual Le Mans 24-hour race event. This included opportunities to find exclusive moments and artwork on the marketplace.
Also, the Drone Racing League, the world’s premier, professional drone racing property, became the first sports league to run an NFT marketplace through Algorand. The marketplace features unique 3D avatars of DRL’s Algorand 13th Pilot, MannyH!MSLF, to use for gaming and in the metaverse.
NFTs exploded as many of the world’s top brands realized the role the digital assets can play in a diverse set of applications. I am excited to see DEPT® recognize the opportunity and launch its state-of-the-art platform that removes complexity for brands to more fully incorporate NFTs into their businesses.
David Markley, director of business solutions, Algorand
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