NFT MARKETPLACE –
A CENTRAL HUB FOR ART LOVERS

Cardano based NFT marketplace that allows the artist to mint and sell their NFTs.

Industry

Art

Services

Design, Development, Audit and Integration, NFT-MAKER PRO Integration, Testing, Launch of Marketplace

Business Type

Startup

Blockchain

Cardano

NFTMarketplace

Overview

Users can also buy NFT art that is available for direct buying. Once the NFT is sold, the ownership of that art piece along with its associated non-fungible token is transferred to the bidder or the buyer of the art piece. Nami Wallet, a browser-based extension, is used to perform any transactions on this NFT Marketplace to interact with the Cardano blockchain. All the users must have ADA in their wallets for minting, selling, buying, and adding the token.

There are 3 users that interact with this marketplace:

Mint & Sell your NFTs and gain traction with the help of our NFT Marketplace

Problems and Solutions

High Gas Fee:

A high gas fee while trading the NFT is a major challenge that art lovers have to face.
Solution:
This marketplace resolved this problem by utilizing the Cardano blockchain. Not only it is cheaper (low gas fee), but also faster than the Ethereum-based marketplaces.

Art Ownership:

A lot of users have a craze for art and want to gain a proprietorship of the actual art pieces that are difficult to get physically.
Solution:
The marketplace proposed a solution of it by offering the artist ability to tokenize the art in form of NFT and list them in the marketplace for sale. The user purchases this NFT and gets ownership of the art from any corner of the world.

Additional Use of Financial Resources:

Additional financial expenses are needed for those users who want to visit galleries and buy art pieces as they ought to cover large distances.
Solution:
The marketplace resolved this problem by offering the artists and sellers the chance to meet up in one virtual place, view art, and perform trade without the need of traveling any distance.

Features

Ownership Rights and No Middleman

The marketplace provides relaxation for both artists and buyers. Artists enjoy the rights to their produced art while the buyers have ownership rights of the purchased art. It allows an independent revenue stream for artists by removing the need for middlemen.

High Performance

This marketplace uses the Cardano blockchain which makes it highly scalable and can handle increasing traffic without affecting the performance of the system. The users can perform fast transactions.

Royalties

Artists can set royalties on their artwork on this platform, they can set a maximum of 10% royalty to gain the benefit from the subsequent sales of their work.

Traditional Features

This marketplace covers all the traditional features of NFT Marketplaces like minting NFT, selling NFT, bidding, buying, adding to favorites, following any specific artist, etc.

User Side Working Flow

NFT MarketPlace-Infographics
NFT Marketplace-Mobile-Infographic

Technology Stack

We offer the best tools and technology stack according to the use case of the Project. For this NFT Marketplace, the following technology is entertained:
caradano
Cardano

Cardano is the blockchain utilized for this marketplace.

React Native
React JS

For front-end development

Node Js
Node JS

For backend development

Express js
Express JS

Framework of Node JS

MongoDB
MongoDB

In NoorNFT, MongoDB is used to calculate the fluctuation rate against every token.

Jira
Jira

Used for task management between team

Bitbucket
Bitbucket

To maintain or manage the code in the repository.

aws ec2
Digital Ocean

Used for deployment

AWS
AWS

Used for deployment

Visual Studio
Visual Studio Code

IDE for frontend and backend development.

Marketplace Working Flow

NFT MarketPlace-workflow-Infographics
NFT MarketPlace-Mobile-workflow-Infographic

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