Creating a one-stop NFT solutions platform: In a conversation with ChainUp

Nonfungible token (NFT) infrastructure is growing, with more people interested in the technology than ever before. However, with this high magnitude of momentum, the industry needs to catch up with effective solutions to fulfill users’ needs without complicating the overall experience. Cointelegraph talked to Jeff Mei, ChainUp chief marketing officer, about the current NFT landscape and ways to improve it. 

1. Tell us about ChainUp.

ChainUp is a world-leading blockchain technology service provider. Founded in 2017 and headquartered in Singapore, ChainUp implements a comprehensive global operations strategy, with subsidiaries operating in Tokyo, Hong Kong, the United States, Canada, Toronto and others.

As the leader in blockchain and crypto technology services, ChainUp has relentlessly strived in the past four years to embrace a number of product lines, including digital assets trading systems, nonfungible token(NFT) trading systems, wallet infrastructure, plus mining and staking. We have built an end-to-end technical service provision platform to help clients build their product as well direct and allocate traffic, trading volumes, and liquidity to the client. 

ChainUp has provided blockchain technology and financial services to over 1000 clients in both crypto and traditional finance industries in over 30 countries and regions, which covers over 60 million users.

2. What does ChainUp have to do with NFTs?

ChainUp has launched an NFT trading platform, which is divided into privatized and SaaS versions. The privatized NFT services involve marketplace transaction processing, storage or other related operational functions. We can provide services to clients through a decentralized server with both front and back-end code. The SaaS products would involve a centralized NFT trading platform that cooperates with ChainUp’s existing exchange systems to provide an aggregated and concentrated NFT market. This can help reduce the difficulties of implementation and deployment for merchants. 

Within the gaming space, we are also preparing an NFT gaming cloud platform where providers can easily add their own games. This can synergize games with blockchain and NFT functions such as in-game currencies, NFT (items) ownership, transaction processing or other related functionalities. 

3. How exactly does the NFT feature work, and who are its potential users?

ChainUp has various NFT trading systems solutions. We provide NFT technology infrastructure services to contributors in the space, by acting as a one-stop-shop type NFT trading platform. We create foundational infrastructure which can allow clients to have NFT transactions functionalities such as support for digital collectibles, works of art, valuables, assets, securities and more. The rapid integration and ramp-up time can help quickly reduce tech and development-based barriers to entry, which can enable the entire NFT industry as a whole to be more efficient and bring in more stakeholders and players.  

We have already created the technical infrastructure and foundation both front and back end for some of the top NFT marketplaces today. A lot of our underlying technology and security protocols are already being used by the top household names in the NFT space.  

Our client base is anyone who wants to be able to have NFT trading or storage features on their platform. This can be existing crypto- or blockchain-based startups who want this pre-developed tech, or it can also be players from traditional industries who also want to allow their users to hold and use NFTs on their platform. Some of our more prominent clients are tech companies who want to use NFTs, artists, platforms that deal with collectibles or unique goods, precious metals, securities companies, or investment institutions. 

4. How are ChainUp’s NFT solutions different from its competitors?

Currently, as NFTs are becoming more and more mainstream, many NFT exchanges from startup to large-scale are beginning to emerge. With this, also comes many service providers which can help them build, improve, and expand their product offerings.

One key advantage that ChainUp has, aside from having the experience as a four-year veteran in the industry, is that many of our NFT systems can be privately deployed and tailored to a client’s exact needs. Asides from a pre-packaged base, we have many options that can allow clients to access the most advanced functionalities on the market. Of course, these NFT solutions are just one component of the greater ChainUp ecosystem, where users also have access to many integrative parts of the other products and services we offer, which can help them create a more comprehensive platform and expansive product offering for their users.  

5. What does the NFT solution roadmap look like?

Our typical roadmap for our clients and users consists first of a thorough understanding of each other’s current-state products, services and future needs. We spend ample time with our clients to better understand their positioning in the space, their expectations, target users, and the goals of the product.

From there, after identifying the core business needs, we can demo various different options that we can offer and further to better understand how the requirements match up. After solidifying the exact customized package, we can start deployment and configuration and have multiple conversations throughout the build-out to make sure each checkpoint is covered, and the customer is getting exactly what they require. Upon completion, we also have scheduled status checkups to ensure smooth operations throughout the process. 

6. What do you think about the current state of the NFT ecosystem? 

Just like many other parts of the greater crypto and blockchain world, the NFT space is still nascent. Since the early basic NFT creations in 2015-16, there has been significant development, especially in its use cases and prominence in mainstream communities.

In 2021,  NFTs got on the map, led by Hollywood, as well as globally well-known creatives and artists around the world. This was a wonderful spark because it touched on the essence of what the blockchain ecosystem needs as a whole: more wide-spread and mainstream global adoption.

The widespread awareness of NFTs  brought an entire new wave of people into the blockchain and crypto ecosystem. Many people who didn’t own cryptocurrencies and tokens  previously, had their first  exposure with NFTs. NFTs helped people garner the interest to learn more about crypto and resulted in an entirely new sect of the population getting their foot in the door. Now, as more world-renowned companies, celebrities, and thought and media leaders are getting involved, the bridge between the “traditional” world and the “crypto community” is getting closer.