NFT Community Marketplace: Mint, Buy, Sell

Technology Stack

BigchainDB
MongoDB
Express.js
React.js
Node.js
IPFS
Stripe
AWS

The Client

The client owns an online marketplace that helps users mint, buy, and sell nonfungible tokens (NFTs). The platform has all the functional and technical prerequisites that make transactions of digital tokens smooth. It has a sleek interface, listing capabilities, an insights page, and bidding features that make NFT trading easy and fun.

The Challenge

The client approached Capital Numbers to develop this marketplace from scratch. They wanted this marketplace to be a community hub for NFT holders - where people can join to trade NFTs and chat with each other.

But there was more to it. We had to make this NFT marketplace decentralized to allow middlemen-free transactions. And for this, we had to deploy Blockchain-like capabilities like immutability.

To be more specific, our key challenges were around the following areas:

Each NFT creation had to be immutable. It had to retain its individuality.
Each NFT ownership had to be uniquely stored.
Each token transfer had to be unalterable.
A robust user registration mechanism was critical to prevent illegal access.
A Fiat Wallet had to be developed to enable NFT purchases and sales.
Incentivized NFT contests had to be created to encourage user participation.
A built-in chat feature was required for users to interact with each other.
An Insights page had to be built to show collection-based analytics.

In short, we had to incorporate an extensive list of features to make token trading exciting for users.

The Solution

Our Business Analyst oversaw the requirements and gathered a team of experts proficient in BigchainDB and MERN stack.

We used BigchainDB as the primary storage solution because it’s immutable and tamper-proof. So, once an asset or transaction is stored in BigchainDB, it cannot be altered.

BigchainDB also allows rich transaction-level permission settings and helps enforce selective access. It is highly customizable. It is also the most queryable database solution with Blockchain-like properties such as decentralized control. Powered by MongoDB, BigchainDB allows developers to run any MongoDB query to search entities like assets and transactions. Because of many such benefits, we considered BigchainDB the ideal fit for this project.

Additionally, we used IPFS to mint tokens and files. IPFS stores tokens along with their unique identification address. It makes fetching unique tokens from a whole array of apparently similar-looking tokens easier.

As for the backend environment, we used Node.js because of its scalability and time-saving development benefits. We chose React.js and Express.js for the frontend as they help develop lightweight UIs.

Additionally, the platform required the processing of Fiat-based transactions. So, we made provisions for the Fiat Wallet and integrated Stripe to facilitate all Fiat-based transactions. Besides, we added a chat box for users to connect. We also created an Insights page to help people visualize stats around token transactions.

After implementing everything, we thoroughly checked if all the marketplace rules worked fine. We then deployed the app in AWS, which offers unparalleled computing power.

Results

Because we chose a well-curated tech stack, we could turn our client’s idea into a fully polished NFT marketplace perfect for newbies and experts. Here’s more on what the marketplace offers:

Robust User Signups

Users undergo a robust signup process with two-factor authentication (2FA) of their details like names, emails, passwords, countries, etc.

Fiat Wallet

As users sign in, the platform requests a Fiat Wallet integration, and once users integrate it by linking their bank accounts to the platform, it prepares users for transactions.

Fiat Transactions

Users must add sufficient money to their Fiat Wallet before proceeding with transactions.

Easy-to-use Storefront

Users can then browse a digital gallery of beautiful NFTs on this sophisticated storefront.

Searches and Filters

While browsing, users can filter NFTs based on the following categories:

Collections	Deck	Denomination
Dark Duck	Spades	A
Exclusive Stone	Hearts	2
Crypto Cards	Diamonds	3
Playing Arts	Clubs	4

Price	Sale	Rarity
Min Price	Fixed Sale	Crypto 45
Max Price	Auction	Crypto 34

NFT Purchases

After filtering, users can purchase the NFTs of their choice using the money in their Fiat Wallet.

NFT Lists

After purchase, users can create an NFT collection list and choose to put out some for sale.

NFT Sales (Fixed and Auctioned Bids)

Users can sell their NFTs at a fixed price or at an auction.

Auction Timer

If users choose to auction, they can set a countdown timer and the minimum bid price for buyers on the platform.

Profits

When NFTs finally get sold, users receive funds in their Fiat wallet, which they can reuse to buy more NFTs from the marketplace and earn profits.

Incentivized Contests

Moreover, users can participate in exciting contests to win new tokens and collectibles.

Collection-specific Insights

By visiting the Insights page, users can see collection-specific analytics such as:

NFT Collection	Price	Sale Type	Transaction Date & Time
Dark Duck	$5	Fixed Sale	10th May 2023, 01:54 PM
Crypto Cards	$4.50	Auction Sale	24th April 2023, 11:15 AM
Playing Arts	$8	Auction Sale	18th March 2023, 4:30 PM

Community Feeling

So, those looking to buy and sell NFTs and earn good money can visit this platform to catch all the action.

Built-in Chat

NFT traders worldwide can also meet and greet each other via chat on this platform.

Proof of Digital Rights

Thanks to the Blockchain-like immutable ecosystem Capital Numbers developed, traders can mint, buy, and sell as many NFTs as they want without risking their digital rights.