Non-Fungible Token Marketplace Software Development Project
NFT marketplace software development is working as a decentralized platform where normal users enables to send, receive, store and trade non-fungible (NFT) tokens.
NFT marketplaces software providers both end users to share their original pieces and also pay the work of others.
Lots on such a platform can be offered at a fixed price or sold through an auction. Most NFT marketplace platforms require buyers and sellers to have crypto wallets for carrying out transactions.
Non Fungible Market place Development Project
For our SGP project we propose to create NFT Market place which creates NFT tokens and NFT trading platform. NFT is a digital asset that represents internet collectibles like art, music, and games with an authentic certificate created by blockchain technology that underlies Cryptocurrency. Our Non-fungible tokens are used to tokenize digital arts like GIFs, Doodles, etc.
The Non-Fungible Tokens (NFTs) are digital assets that hold unique properties and they are different from their cryptocurrency counterparts.
Advantages in building your own NFT Marketplace
Hassle-free transfer during an exchange of non-fungible tokens.
NFTs are bought and sold in various marketplaces based on the price value and uniqueness of the token.
It is authentic with blockchain technology powering the non-fungible tokens, which prevents counterfeit.
The NFT tokens have ownership rights that don’t allow to make changes in decentralized platforms.
NFT Marketplace Development Features
●Effective possession rights
●Excessive-stage safety
●Transparency
●Token Inauguration
●Intermediaries for no fee price
●Immutability
●Storefront to enlist various artworks
●SearchBar for artwork instantly
●Single pieces of art for sale
●Buying and Auction
●Crypto Wallet
●Payments and Charges
●Safety protects from transaction
The Stack
We build full stack application using:
Web application framework — Next.js
Solidity development environment — Hardhat
File Storage — IPFS
Ethereum Web Client Library — Ethers.js
Though it will not be part of this guide (coming in a separate post), we will look at how to build a more robust API layer using The Graph Protocol to get around limitations in the data access patterns provided by the native blockchain layer.
Polygon
Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.
Polygon solves pain points associated with Blockchains, like high gas fees and slow speeds, without sacrificing on security. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc, but with at least three major upsides:
●It is able to fully benefit from Ethereum’s network effects
●It is inherently more secure
●It is more open and powerful
About the project
When a user puts an item for sale, the ownership of the item will be transferred from the creator to the marketplace.
When a user purchases an item, the purchase price will be transferred from the buyer to the seller and the item will be transferred from the marketplace to the buyer.
The marketplace owner will be able to set a listing fee. This fee will be taken from the seller and transferred to the contract owner upon completion of any sale, enabling the owner of the marketplace to earn recurring revenue from any sale transacted in the marketplace.
The marketplace logic will consist of two smart contracts:
NFT Contract — This contract allows users to mint unique digital assets.
Marketplace Contract — This contract allows users to put their digital assets for sale on an open market.
