Valores

Valores is an NFT marketplace where we value what you value, what you celebrate, what you create, and on what you collaborate

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Inspiration

  • For NFTs, we are building a one-of-a-kind NFT Marketplace that is compatible with existing regulations in the geographies where we operate in.

  • Our team have been attending numerous blockchain events for the past two years and surprisingly, none of the events have NFT Ticketing based access. That gave us an idea to venture into blockchain ticketing.

Technical Architecture Design Specifications

  • UUPS Upgradable Smart contracts

  • Merkle Proofs to approve NFTs created in marketplace to bulk publish them with content moderation

  • ECDSA signatures to capture authenticity of trades being placed and accepted by sellers

  • Transfer manager that acts as non-custodial operator in form of a smart contract that holds the ability to execute trades by merely taking signatures of parties involved

  • Lazy minting by extensive use of hashing techniques to pre-determine tokenIDs before it gets minted on-chain

  • IPFS to host original (high quality) files of NFTs

  • On-chain events syncing

  • Custom-built queuing system to process parallel trades built on top of Nest.js

What it does

  • Our NFT Marketplace allows for NFT minting and trading on multiple blockchains.

  • NFT Ticketing will allow the attendee to have a permanent record of their participation in an event on the blockchain. Ticket Issuers will be able to reduce scalping by implementing various checks on the smart contract.

How we built it

  • Involving enormous efforts put in covering automated test scenarios using hardhat framework, our NFT marketplace is built with 100% test coverage with cases for every function on smart contracts.

  • We have leveraged state-of-the-art cryptographic techniques to authenticate our users using gas-free signatures.

  • Our Marketplace is a smart non-custodial solution that will independently perform user trades without human intervention.

  • With an eye on futuristic developments to happen with fast pace, we have ensured our Marketplace is fully upgradeable to support new protocols and digital assets.

Challenges we ran into

  • There are not many options for currency conversions from fiat to crypto or vice versa. Web3 wallets are still complicated for people to use and web3 notifications are challenging to implement. Web3 product development on mobile apps needs a lot of work.

  • Building an all-in-one ticketing solution with various set of rules for entry, and compatibility with scanners like barcode and QR code is necessary to convince onboarding of new partners.

Accomplishments that we're proud of

  • Finished building a completely decentralized multi-chain NFT Marketplace, where the trade happens completely on-chain without any human intervention.

  • Partnered with some of the most popular artists and entertainment companies in South Korea.

  • Built a team that can quickly iterate new technical solutions based on the market needs and feedback from our clients.

What we learned

  • NFT/Blockchain based ticketing has been a highly sought after product.

  • Blockchain is still an alien concept to a lot of people, sometimes we end up explaining what it is more that what we have done.

  • A global crypto-to-fiat solution with low fee is desirable.

What's next for Valores

  • Marketing our NFT platform and engage with more partners.

  • NFT Ticketing POC to be implemented in certain places such as cinemas and concerts.

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