On Tuesday, the San Francisco-based fiat-to-crypto and payment infrastructure company, Wyre, announced the launch of a non-fungible token (NFT) market tool that gives developers the ability to create NFT marketplaces in less than 24 hours.

Wyre Claims Devs Can Build an NFT Marketplace in 24 Hours

Non-fungible token (NFT) assets have been a hot topic all year long and the trend has continued strong toward the end of 2021. This year well known firms and exchanges like Crypto.com, FTX, and Coinbase have launched NFT marketplaces. Creators have also leveraged markets like Makersplace, Mintable, Rarible, and the leading NFT marketplace Opensea.

On November 2, Wyre announced the launch of an all-in-one NFT market solution that provides developers with the tools needed to build an NFT market in less than a day. Wyre is a San Francisco-based payment platform co-founded by Michael Dunworth and Ioannis Giannaros. The firm is backed by businesses like Draper Associates, Digital Currency Group, Amphora Capital, Baofoo.com, and 9fbank.

Wyre’s new NFT product utilizes the firm’s current API solutions which are leveraged by Flow, Avalanche, Stellar, Nifty’s and Rarible. “From out-of-the-box solutions including an NFT checkout widget that gives end-users to make purchases using the world’s most popular payment methods to powerful rest API’s that take care of custody and minting,” Wyre’s announcement explains. “Wyre is positioning themselves to be the one-stop-shop for developers and brands looking to make inroads into the rapidly growing collectibles space.”

Wyre’s CEO, Ioannis Giannaros, detailed that the company works with a number of brands in the space and says the firm is “committed” to helping the NFT sector blossom. “Our NFT solution changes the game for developers or brands looking to build an NFT Marketplace, providing them with end-to-end infrastructure which is powerful, easy to implement, and fully compliant,” Giannaros said in a statement on Tuesday.

According to the details of Wyre’s latest NFT product announcement, the company’s NFT service fees will “mirror Wyre’s traditional fee structure.” Wyre notes that its solution will support major blockchain networks and traditional payment networks as well like Apple Pay, Google Pay, MasterCard, and Visa. Essentially, the NFT marketplace tool supports all the fiat currencies Wyre currently supports.

What do you think about the NFT marketplace tool Wyre has introduced? Let us know what you think about this subject in the comments section below.