NFT

Co-investment, Co-benefits

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Inspiration

I found that many NFTs on the market are very expensive, but most people don't have enough money and they want to invest in these NFTs. I know that some people will lock an ERC721, and then issue some ERC20 tokens for this NFT, other users can buy this ERC20 token, but it does not really solve the liquidity of NFT.

What it does

CONFT adopts a co-investment approach. Everyone only needs to pay a part of the funds, they can buy a part of the NFT, and they can get the pricing power of the next sale of the NFT. When the NFT is sold, they can get some benefits from the price difference.

How we built it

I use React for the front end, solidity for the smart contracts, and I've researched some open source MarketPlaces that will add some backend services. Being a minimalist, I just want to use the front end and smart contracts, so I add some processing to load more data in the smart contracts. Because opensea's metadata standard is widely used, CONFT's Marketplace uses the same method to handle metadata. Users only need to enter the contract address and tokenId to list NFTs on the Marketplace.

Challenges we ran into

I have to say, to be more secure, I need to make some judgments about payments in smart contracts. And set the minimum purchase amount of each NFT to prevent some malicious price attacks.

Accomplishments that we're proud of

This idea has been in my mind for a long time. It only took me 10 days to complete the product design, UI design, front-end development and smart contract development. I really enjoy the process of implementing an idea, and its experience is great.

What we learned

  1. Keep it simple, solve the problem in a simple way, if it is not simple enough, try another way.
  2. Keep innovating. Don't limit the sales method of NFT to the existing marketplace. We can have many sales methods.

What's next for CONFT

  1. Increase the time limit function of each NFT purchase, which can be limited by the block height. If the time is exceeded, the user can withdraw money.
  2. Support the purchase of multiple tokens.
  3. Support deployment on multiple chains.
  4. Establish a DAO that manages CONFT and vote on the modification of Marketplace parameters.

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