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Utilizing blockchain technology, the NFT Marketplace

One of our US-based clients came to us with the concept of a mobile app and is very knowledgeable and enthusiastic about blockchain technology. He sought to create a platform that would allow users to exchange digital artwork via NFT. Users should be able to develop and trade their NFT in addition to that. Users of the platform should be able to exchange NFT for blockchain-based digital tokens like Matic

There are not even a few tasks that you must complete in this digital age without the aid of technology. With the help of services like online banking, UPI, and even digital coins, technology has even streamlined and simplified financial transactions. 


Challenges faced by our client

The smartphone application's main requirement is to trade digital art via blockchain. The blockchain employs a decentralized methodology. Each digital art image might be quite large, which can cause issues when trying to save the image. Therefore, our mobile app developers came up with the idea of storing huge photos and decentralized objects using IPFS.

Another requirement of the application enables users to build a raffle for NFT, where users can purchase a ticket for the lottery and reveal the winner after a predetermined period of time. Our developers faced the difficulty of developing an algorithm for the winner, which they overcame by creating a special algorithm just for the mobile application.

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Solutions we provided

We have created several traditional and basic user-side functionalities for this NFT-based mobile application, including login, registration, post creation, bid, and purchase, in accordance with client specifications. The client also requested posts for the home page and feed, where visitors may view posts from other users and edit their own profiles.

The application also had an admin panel. There are several useful features in the admin panel. We created a dashboard for the administrator in accordance with the client's specifications, where he can manage users, posts, categories, content violations, and limits, in addition to thorough app analytics on application usage and user interaction.


Tools and technologies used

The tools and technologies used in coming up with these solutions for our client include Swift and Kotlin. Swift is a general-purpose, multi-paradigm, compiled programming language. Kotlin is a modern, cross-platform, statically typed, general-purpose programming language with a typing interface.


Benefits of NFT-based mobile applications

There are various benefits to building an NFT marketplace. It has complete transparency. A distributed database should contain all NFT transactions according to blockchain technology. Establishing an NFT marketplace results in the formation of a decentralized platform. Which makes it possible for users to freely trade assets. A decentralized platform's establishment needs blockchain technology. Each NFT has a particular function and a distinct digital ID. Through your marketplace, users may instantly access exclusive assets. Indivisible tokens are extremely valuable due to their scarcity.

Cryptocurrencies and NFTs are in ever-increasing demand. People actively invest in digital assets. Many consumers perceive more liquidity in the NFT market as a result. Another benefit of developing an NFT marketplace is having the chance to win the support and confidence of your users. A non-fungible token is a record of ownership that is available to the public and can be verified if necessary. Therefore, NFT cannot be faked.


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