Swank NFT

Inspiration

My Inspiration for Swank NFT was to was to maximise the possibilities of non-linear transitions. Today, overwhelming majority of NFTs are digital assets, and I believe that this technology is underutilised. One of the numerous ways that NFTs may increase our understanding of transactions is by digitising physical assets. Consider being able to take the House registration document, convert it to an NFT, and rent it out securely via the blockchain. Alternatively, you can digitise assets such as rental properties and manage your real estate using technology. Additionally, intangible assets such as intellectual property, patents, copyrights, and brand awareness are considered. This service facilitates the purchase, sale, and lending of both physical and digital assets by increasing transparency and security. I believe that if implemented properly, this concept has the potential to be revolutionary. When it comes to utilisation cases, you are only limited by your imagination!

What it does

NFT Swank enables users to create, buy and sell NFTs directly on our platform and then sell them on a marketplace where other users can rent and borrow them for a certain period of time utilising cryptographically secure loans and verified data ownership. Any type of time-limited transaction is now possible, and users can be certain that their assets will be securely restored to their ownership after the period expires. Our method assures transparency and security by requiring co-signers on the digital assets being lent. The borrower obtains the asset immediately upon payment, and the item is returned promptly upon the time restriction expiring.

How we built it

NFT Swank uses Filecoin which powers the backend of my platform, While tendeta powers the frontend. Using filecoin APIs, my solution provides real-time and clear data.

Challenges we ran into

I am very new to blockchain and NFTs, but this hackathon allowed to explore the world of blockchain, NFT and IPFS. I read lot of documentation around Filecoin was able to understand the functionality through it. Initially I struggled to learn from the ground up. The majority of our time was spent on how to use the API and which platform to choose for frontend.

Accomplishments that we're proud of

I gained a wealth of knowledge regarding cryptocurrencies and the blockchain's operation. I am extremely proud with the amount of learning and work I accomplished in such a short amount of time. I am also happy of the concept; I believe it has a lot of promise and intend to continue developing it once the hackathon concludes.

What we learned

We learned how to use Filecoin and IPFS for NFTs.

What's next for Swank NFT

I want to continue the project by applying for financing from the Filecoin Community Fund. I plan to expand this and make it more accessible to a broader audience.

Built With

• api
• blockchain
• filecoin
• tendeta