NFT Trading Platform :
A Decentralized Application using the Ethereum Blockchain
Mithilesh Pawar1, Rudraksh Balkar, Vijay Pawar3, Saurav Roy4
1 B. Tech 4th Year, Dept, of Information Technology Engineering, DYPIET, Pune, Maharashtra, India
mithileshpawar1@gmail.com 1
2 B. Tech 4th Year, Dept, of Information Technology Engineering, DYPIET, Pune, Maharashtra, India
rudrakshbalkar29@gmail.com 2
3 B. Tech 4th Year, Dept, of Information Technology Engineering, DYPIET, Pune, Maharashtra, India
vjpawar3081@gmail.com 3
4 B. Tech 4th Year, Dept, of Information Technology Engineering, DYPIET, Pune, Maharashtra, India
bunnyroy786@gmail.com 4
ABSTRACT
Blockchain technology is poised to bring about a paradigm shift in the business environment, offering substantial benefits in the near future. Non-fungible Tokens are digital representations of material possessions like artwork, recordings, assets within the game, and films. These tokens are traded via the internet with multiple cryptocurrencies. NFTs have their own distinct characteristics from fungible tokens, which may be traded without restriction on numerous centralized or decentralized exchanges.Each NFT carries a unique digital signature that precludes its exchange for another NFT, and its value is determined by factors such as metadata, creator, and features.
It is unambiguous that the integration of blockchain and NFTs give a unique possibility for artists and content producers to earn financial reward for their creative efforts, liberating them from reliance on conventional galleries for sales. Artists may now sell their paintings directly to buyers via NFTs, allowing them to maximize income while maintaining control over their creative rights.
Furthermore, NFTs have the alluring feature of royalties, in which original authors get a percentage of the revenues when their NFTs are transferred to a new account. NFTs exhibit diverse use cases, with the NFT marketplace serving as the central hub for minting and trading these unique tokens, providing users with a comprehensive platform to engage in such activities.
The NFT marketplace solution constitutes a robust platform that empowers users to create, purchase, and trade assets supported by non-fungible tokens. Built on blockchain networks, this platform ensures seamless support for NFT assets. Users can actively participate in trading NFTs with one another or engage in buying and selling operations through the decentralized NFT marketplace, thereby leveraging the full potential of this innovative ecosystem.
Keywords: - Blockchain, Decentralised, Ethereum, Non-Fungible Tokens (NFTs), Tokenization
