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Development of a Blockchain-Based NFT Marketplace Platform
  1. case
  2. Development of a Blockchain-Based NFT Marketplace Platform

Development of a Blockchain-Based NFT Marketplace Platform

apriorit.com
Media
eCommerce
Art & Entertainment

Identifying Challenges in Digital Asset Monetization and Distribution

The client aims to establish a blockchain-based platform to facilitate the creation, sale, and secondary trading of NFTs linked to digital images. They face challenges in developing secure smart contracts for minting and sales, managing NFT metadata, facilitating resales through external marketplaces, and providing an intuitive user interface for buyers and sellers. Additional needs include website development, user guidance, and seamless deployment on the Ethereum blockchain network.

About the Client

A mid-sized media startup aiming to create a blockchain-driven platform for the minting, sale, and resale of digital art assets via NFTs.

Goals for Implementing a Secure and User-Friendly NFT Marketplace

  • Enable the creation and minting of NFTs through secure smart contracts with controlled minting limits and sales mechanisms.
  • Develop scripts and infrastructure for generating, storing, and updating NFT metadata, utilizing IPFS and scalable databases.
  • Facilitate secondary market reselling of NFTs through integration with external marketplaces such as OpenSea.
  • Create an attractive, easily navigable website for NFT browsing and purchase, with comprehensive user guides and support materials.
  • Deploy the full solution reliably on the Ethereum mainnet ensuring secure transactions and manageable infrastructure setup.
  • Deliver the project within established deadlines, supporting initial NFT sale phases including presale and public sale.

Core Functionalities and Features for the NFT Marketplace Platform

  • Smart contracts for minting NFTs with features like random token ID assignment, minting limits, and sale period constraints.
  • Separate smart contracts for NFT sale and resale, allowing flexible updates to sale logic without redeploying existing contracts.
  • Metadata generation scripts for existing images, stored securely on IPFS, with backend infrastructure for quick edits via MongoDB.
  • An intuitive WordPress-based website enabling users to view, purchase, and resell NFTs, integrated with smart contract interactions.
  • User guides and tutorials with step-by-step instructions and voiceovers to facilitate onboarding on the platform.
  • Tools for automatic NFT image reveal based on predefined dates or conditions.
  • Deployment scripts and infrastructure setup for secure, scalable operation on the Ethereum network and cloud hosting services.

Preferred Technologies and Technical Stack for NFT Marketplace Development

Solidity for developing smart contracts
JavaScript for scripting and frontend interactions
IPFS for decentralized storage of NFT metadata and images
MongoDB for flexible metadata management
WordPress for website development
Ethereum blockchain for smart contract deployment and transactions
AWS infrastructure for scalable hosting and deployment

External Systems and Marketplace Integrations Needed

  • OpenSea or similar NFT marketplaces for secondary sales and reselling
  • IPFS network for decentralized metadata and image storage
  • Ethereum mainnet for contract deployment and transaction processing

Key Non-Functional Requirements for Blockchain NFT Platform

  • High security standards for smart contracts and user transactions, including audits and best practices.
  • Scalability to support high transaction volumes during peak sale events.
  • Performance optimization for quick metadata retrieval and user interactions.
  • Availability and uptime of 99.9% in deployment infrastructure.
  • Compliance with relevant blockchain security protocols and best practices.

Expected Impact and Business Benefits from the NFT Marketplace Platform

The development of this platform aims to enable secure and efficient NFT creation and sales, facilitating initial and secondary market transactions. The project targets timely release aligned with sales schedules, supporting a seamless user experience and boosting liquidity of digital art assets. The expected impact includes accelerated revenue generation from NFT sales, increased user engagement, and establishing a scalable foundation for NFT operations with minimized transaction issues and high security standards.

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