NFTy by INT_MAX Team - 104.

Your own NFT marketplace.

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Inspiration

1)Physical works of creation face conflict between the traditional art world elites and the aspiring creators. 2)Creators are deprived of expressing their works of creation due to the financial prospects of modern art galleries charging 30-50 percent of commissions. 3)Art criticism and allowance being biased keep people of certain criteria away from presenting their story to the audience. 4)A lack of transparency and authenticity leads to buyers' enjoyers not reaping complete justice to their price. 5)Only 10% of art school graduates make a living from their artwork

What it does

  1. Converts images, videos, audio and 3D models into an NFT.
  2. Checks plagiarism for NFTs to prevent fraud.
  3. Being secure for users by using off-chain solutions like IPFS for storage so that user can easily backup and access their NFTs
  4. Makes buying and selling of NFTs more public by inculcating Fiat payments instead of cryptocurrencies.

How we built it

  1. Used react js for our front end. Different state functions like use-state and use-effect have been widely used in NFTy. For styling, CSS core was used.
  2. Connected it with node js.
  3. Solidity code which forms the basis of our marketplaces was implemented using the ERC721 token which was imported from the openzeppelin library.
  4. Hardhat for Solidity debugging was used.
  5. We connected our front-end app to solidity. Users with an account in a hot wallet say metamask could now interact with our Dapp.
  6. To store NFTs that get minted in NFTy, we used IPFS which is an off-chain solution to store data securely in a decentralized manner.

Challenges we ran into

1)MoonPay Api and blockchain gas fees limiting implementation. 2)Coordination between offline and online members of the group. 3)Bottlenecks due to the Al model deployed on the free, slow server.

Accomplishments that we're proud of

  1. Able to use the ERC721 token to create an NFT marketplace that is secured and striving for being a platform not just for creators but for brands as well.
  2. Frameworks such as hardhat and libraries such as web3js are successfully used and the minted NFTs getting stored on an off-chain IPFS server.
  3. Variety of hot wallets available for user flexibility like metamask.
  4. Users can simply drag and drop not only images but also videos and audio and convert them into an NFT.
  5. Achieve a major percentage of what was planned by overcoming all coordination challenges and performing as a team.

What we learned

1) Learning the importance of brainstorming and researching an idea to lay the right foundations. 2) Learning newer technologies in a shorter period of time while implementing them to serve the requirements. 3) Understanding the importance of team coordination and task delegation.

What's next for NFTy by INT_MAX Team - 104.

1)Provide estimated selling prices from similar NFT collections that have previously traded. 2)Include an elastic server for models to handle larger requests. 3)Have the editorial feature in a multi-linguistic model with search tag support. 4)Include MoonPay Api to facilitate Fiat currency transactions.

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