What is an NFT? NFT stands for non-fungible token. Each record on the blockchain is called a token. However, in an open blockchain, all tokens are equal to each other and are fungible. This means that one token can be replaced with another of the same token and nothing will change. But Non Fungible Token (NFT) technology works differently. Each non-fungible token is unique and cannot be tampered with, split, or subtly replaced. Such an organization is ideal for securing your rights to any unique object, be it a work of art in a single copy, an item in a computer game, or even real estate. The digital tokens can be thought of as certificates of ownership for virtual or physical assets. I solved to build the application for creating and trading NFT Symbol mosaic
What does it do
This platform works for Symbol NFT mosaic maker. Here you can upload your work and create one token and put it up for sale with a starting price for the auction. Buyers can place their bids. The Symbol NFT mosaic seller selects any bid from the list of buyers and the system confirms the transfer of the NFT token to the buyer. How I built it To build the application I used angular 9, as the backend used Firebase services. In the application for payment and creating mosaics I used Symbol libraries.
Problems I am facing
To confirm the uniqueness of the file to which the mosaic is linked, I planned to use the Apostille library. But it was not possible to use it because it has a dependency on the previous library nem2. Hackathon time did not allow me to remake Apostille with dependencies on Symbol libraries. I hope the Symbol team will remake this library and I can use it to obtain certificates of uniqueness of files for NFT mosaics.
Achievements I am proud of
There is a working prototype at the app work for desktop and mobile and have PWA option. NFT SYMBOL SHOP
What have I learned
The Symbol ecosystem.
What the future holds for NFT Symbol Shop
NFT mosaics are created on the Symbol blockchain, so it is reliable. But the files are stored centrally in Firestore and this has a number of disadvantages. The system depends on an account that can be closed for various reasons and access to files can be lost although NFT tokens will be available. The centralized storage can optimize the files and the service will receive files with a different hash value, albeit with the same image. Therefore, decentralized storage such as IPFS, FileCoin, ProximaX or others will have to be used. We have to work with designers to improve the UI / UX. It is necessary to notify the seller and buyers about the bets made using the Telegram messenger or others. The application already has the necessary dependencies to start as a PWA application for use on mobile devices. But as part of the hackathon, the web version was used to launch the mobile version, additional time is required to refine and test on different mobile devices. The application has SEO optimization under the hood, so it also takes time and resources to achieve the popularity of using NFT on Symbol mosaics.