A Blockchain Based Market Place For Non-Fungible Token
Alka Shrivastava, Ravindra Namdeorao Jogekar, Utkarsh Shahare, Prachiti Chandekar, Tarkeshwar Khapekar, Pratik Mandade · 2024
The emergence of blockchain technology has propelled the evolution of digital asset ownership, notably through Non-Fungible Tokens (NFTs). This research paper explores the design, implementation, and implications of a blockchain-based marketplace specifically tailored for NFTs. NFTs, unique digital assets indivisible into smaller units, have gained immense traction across various domains, including art, gaming, collectibles, and real estate, revolutionizing the concept of ownership in the digital space.This paper delineates the fundamental principles of NFTs, elucidating their cryptographic underpinnings and the decentralized nature of blockchain that ensures provenance, scarcity, and immutability. It examines the technological architecture and functionalities required for the establishment of a robust marketplace dedicated to NFTs. Through a comprehensive analysis of existing blockchain-based platforms and marketplaces, this research identifies the strengths, weaknesses, opportunities, and threats prevalent in the current landscape. Ultimately, this research contributes to the burgeoning field of blockchain technology by offering insights into the development and optimization of a specialized marketplace for NFTs.