“NFT Marketplace”
DR. VAISHALI SHENDE1, JITANSHU TIWARI2, SUYASH SINGH3, VIPUL SHARMA4, and SOUVIK DAS5
1Associate Professor, Department of Computer Science and Engineering, Sir M. Visvesvaraya Institute of Technology, Bengaluru, Karnataka, India
2345Department of Computer Science and Engineering, Sir M. Visvesvaraya Institute of Technology, Bengaluru, Karnataka, India
Abstract— The rapid growth of blockchain technology has transformed the creation and exchange of digital assets through Non-Fungible Tokens (NFTs). Despite this progress, existing NFT marketplaces continue to face significant challenges, including high transaction costs, centralized metadata storage, lack of transparency in royalty distribution, limited interoperability, and complex user interfaces that hinder adoption by non-technical users. These limitations reduce creator autonomy and restrict the scalability of decentralized digital ownership ecosystems.
To address these challenges, this project presents a fully decentralized NFT Minting and Marketplace Platform designed to support secure, transparent, and user-friendly digital asset creation and trading. The platform leverages Ethereum/Polygon blockchain networks, Solidity-based smart contracts, and decentralized storage using the Interplanetary File System (IPFS). NFTs are minted using ERC-721 and ERC-1155 standards, ensuring interoperability across Web3 ecosystems. A modern web interface built with ReactJS and TypeScript enables users to upload assets, generate metadata, mint NFTs, list them for sale, participate in auctions, and perform peer-to-peer transactions through verified blockchain interactions.
A key contribution of this system is the implementation of smart contract–based royalty automation, which guarantees perpetual royalty payments to original creators during secondary market resales without reliance on intermediaries. Wallet- based authentication through MetaMask ensures secure access and seamless integration with blockchain networks. The decentralized architecture eliminates single points of failure, preserves asset integrity, and prevents unauthorized modification or censorship after minting.
By integrating decentralized storage, automated royalty enforcement, and user-centric design, the proposed platform enhances accessibility, transparency, and trust in NFT marketplaces. This work contributes to the advancement of Web3 infrastructure by providing a scalable and interoperable solution for decentralized digital ownership, supporting creators, collectors, and developers in the evolving blockchain economy.
