Project By: 20IT118 Dhyey Rabadia, 20IT122 Satnamsingh Sandhu, 20IT138 Vivek Shah, 20IT139 Yash Shah, 20IT164 Rushil Zaveri
Prior to the introduction of NFTs, the artist’s main problem is to trust the owner of the asset. Artists are afraid to convert their work into digital art due to security and monetary concerns. Now that NFT technology has been introduced, we can solve the problem of monetary security for artists as well as provide them with a platform that allows them to display their art without being concerned about piracy.
Non-Fungible Tokens (NFTs) are unique digital identifiers used to represent ownership of various crypto-assets such as music, art, collectibles, and game assets, and allow for an unalterable and provable chain of creation and ownership. As NFTs become more popular, it provides a wide opportunity for artists to launch their art to collectors by creating NFTs of the art. So, to provide monetary security to artists and one standard platform for collectors to buy NFTs we are leveraging the power of blockchain and NFTs.
First, we will create a smart contract for NFT that contains the logic behind NFT minting and initial ownership of the NFT, and then we will create a smart contract for NFT Marketplace that contains the marketplace’s business logic.
The smart contracts will then be tested and deployed on the hardhat local blockchain network. We will provide a web application in which sellers and collectors of NFTs can interact with our smart contract so the complexity would be reduced.
We are planning to provide the below-listed functionalities to our web application:
- Crypto-wallet Authentication
- Create your NFT with just a Single-click
- Proof of ownership
- Sell NFT at the desired price
- View and buy NFTs
Set Up a Wallet
Wallets are the applications you use to store your cryptocurrencies, as well as any NFTs you end up minting or buying. Coinbase has a more in-depth explanation of how wallets work and the different options that are available, but if you’re just getting started, there’s really one main thing you need to worry about: using a wallet that’s compatible with the blockchain you’re using.
MetaMask’s wallet is one of the wallets that’s widely supported by Ethereum- based applications like OpenSea, Foundation, and others and can be used either as a Chrome / Firefox extension or as an iOS / Android app. Coinbase also has its own wallet that you can use as an extension or an app, and it’s supported by most platforms. You may want to consider Coinbase’s wallet if you’re planning on getting into crypto more broadly, as it has support for blockchains not based on Ethereum, like Bitcoin.
Connect Your Wallet
After you’ve got your wallet set up, you’ll want to connect it with the NFT marketplace you plan on using. We have made this easy — clicking the Connect The wallet button in the top right prompts you to connect your wallet. You’ll then be presented with a list Of compatible wallets, and choosing yours will prompt you to go through the connection process. But we assure you to connect to Meta Mask’s wallet.
A word of caution for the future: be careful if you see a request to connect to your wallet when you don’t expect it, as scammers could be trying to access your funds or NFTs. As long as you’re on a trusted site, you should generally be okay (at least, as long as something isn’t very wrong — be sure to check transactions to make sure they’re kosher). But if an unknown site asks to connect to your wallet, you should probably think twice before accepting.
Understand the functionalities of the Home page
- Create: on this page, you will be able to create NFT.
- My Listed Items: Here you will be able to see the NFTs that you will mint.
- My Purchases: Here you will be able to see the NFTs that you have bought.
- Collections: Here you will be able to see all the listed NFTs.
Here one has the functionality of selecting the image, Giving the name of the image, and finally the description of the image. After filling in all the details you just have to click on the Create & List NFT! After doing this all things your image is ready to get converted to an NFT.
When you will click on Create and List then the NFT will be get minted and listed in the marketplace.
Buy and Sell NFTs
After Creating NFT, the owner can see it in the My Listed Items section and any other user can see it on the Collections page.
Any users other than the owner of NFT can buy NFT using the Buy button and it will redirect users to their wallet for payment.
After a successful purchase user can see the NFT unlisted and it is can be seen on the My Purchases page.
Also now the owner can see his NFT is sold and the amount for NFT is received by him.
- CSS3/tai1wind CSS
- Ethereum blockchain
- IPFS HTTP Client
- CDN API for IPFS
- Metamask Crypto wallet
Thank you for reading this article and feel free to reach out to us at email@example.com 😄.