Non-fungible tokens (NFTs) are digital blockchain-linked assets that are completely unique and not interchangeable with any other asset. The market for NFTs has tripled in 2020, with the total value of transactions increasing by 299% year on year to more than $250m*. Because they are unique and impossible to replicate, they can bridge the gap between the virtual and the physical assets, it is possible to tokenize art and prove ownership with the use of NFTs. Our team wanted to design a platform to bring the value of social responsibility into this newly blooming industry, and increase the accessibility and knowledge about NFTs. Our platform enables artists to securely register and list their art on the Hedera network and sell them where 10% of every transaction goes to a charitable organization, specifically tied to a UN Sustainable development goal. We also wanted to add a social aspect to gamify the donation process. We also wanted to use a blockchain technology with lower gas fees and more reliability to increase our user base.
🤖 What it does
Every user who joins with us has an account on the Hedera network created for them. They can list their art assets on the hedera network for an amount of their choosing valued in HBAR. Other users can see the marketplace and purchase ownership of the art. This can be which can be transferred to another wallet and into any form of cryptocurrency. Users can filter art by the UN SDG goal they are most passionate about or by charitable organization. Additionally, we list our top contributors to charities in our leaderboard which can be shared on social media to promote activity on our platform. Since we are using blockchain, every transaction is recorded and immutable, so users can trust that their donations are going to the right place.
🛠 How we built it
We used Sketch to design our application, a JS, HTML, and CSS frontend, and an Express.js backend. We used the Hedera Hashgraph blockchain tokenization service, file service, account creation service, and transfer of assets functionality.
⚙️ Challenges we ran into
Time restraints caused difficulties connecting our express JS backend to our frontend. We are all new to developing with blockchain, and for some of us it is our first time learning about many of the core concepts related to the technology.
🏆 Accomplishments that we're proud of
We are proud of the amount we accomplished within the time that we had. Developing with Hedera for the first time was difficult but we were able to see our transactions live on the test net which was very rewarding and shows the potential for our application when it is complete.
💁♀️What we learned
Mainly what was new to us was the fundamentals of blockchain and how to develop on the hedera blockchain. Express.js was also fairly new to us.
☀️What's next for Cryptble
Enabling KYC using a KYC provider, connecting our backend, improving our UI/UX, achieving compliance, contacting charities and organizations to join our platform.
🧑🤝🧑 Team Members
Pegah#0002 SAk#9408 daimoths#3947 Sharif#9380
- according to a new study released by NonFungible.com