NFT MARKETPLACE APP

A Phenomenal Blockchain Solution

Due to NDA, we can not share full details about client and solution.

Overview

NFT marketplace, aka Non-Fungible Token, is a one-of-a-kind trading platform. NFT is a digital asset representing physical objects like art, music, videos, gaming items, etc. These objects are purchased and sold online with cryptocurrencies. Like bitcoins, NFT exists on blockchain technology, a distributed public ledger that records transactions. Usually, NFTs are held on the Ethereum blockchain; however, we have created an exceptional NFT marketplace app which is created using the matic framework. This app stands out from other NFT marketplaces as it offers exclusive short videos, or a trending word for it is ‘Reels.’ These unique reels are digital assets backed by a matic framework. This is a decentralized marketplace where trading takes place through a smart contract. (no centralized authority)

Client Requirements

Our client wanted to create a unique NFT marketplace app that is secure, scalable, and quicker than ever; thus, he approached our company with the idea to provide an NFT marketplace for short videos. Since the blockchain ecosystem currently used is not as scalable. There are problems such as block size restrictions, slow block confirmations, which need to be solved to render an impeccable user experience. Therefore, we aim to resolve these issues with the matic framework incorporated in our app. The existing blockchain apps tend to have a poor user experience; however, with the help of a matic network, our app has delivered an excellent user experience.

Key Features

Create Listings:

This entire app was developed using blockchain technology, so our team created smart contracts to reduce the transaction fee.

Wallet:

This feature enables users to save, send, and receive NFTs. The simplest way to incorporate this feature is by rendering users with an already linked wallet. For instance, you can incorporate the most trending wallets such as MyEtherWallet, Coinbase, etc.

Search Bar:

This section allows the users to search collectibles. Using a search bar on the platform, the user can add items.

Filters:

This feature makes it easier to navigate the app. Especially if you plan to develop a marketplace for several collectibles, this is the feature you must have. This enables users to select items by listing status, collectibles, category, and payment method.

Buy & Bid:

This feature allows users to purchase and bid for NFTs listed on the app. The bidding part should include a bid’s expiry date and enable users to view details about the bid’s current status.

Storefront:

This feature renders users with details about the item such as preview, price history, owners, bids, etc.

Challenges

This entire app was developed using blockchain technology, so our team created smart contracts to reduce the transaction fee.

Since all the marketplaces usually consist of images, and we had to implement a video-based marketplace app, our team had to make significant alterations in the matic framework.

As this is a new bidding platform, we had to create a node server for transaction purposes. Initially, there were no blockchain users to approve the transactions; hence our efficient team managed to do this using a node server.

End-Result

To date, we have an end number of users on our platform and 100,000 to 200,000 tokens on our platform, and some unique users as well.

We have succeeded in the criteria of providing a fast, secure, and scalable app using the matic framework, thus delivering an incredible user experience.

Technology Stacks

Technology Stacks