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  • NFT Marketplace

    The application helps popular brands create and sell NFT tokens and helps users purchase and trade among themselves

    Project Overview

    CUSTOMER

    The client provides brands with custom blockchain solutions that help them achieve increased revenue streams and engagement by monetising their digital identity through NFTs.  

    Detailed information about the client cannot be disclosed under the provisions of the NDA.

    PROBLEM AND OBJECTIVES

    NFT has become overwhelmingly popular among brands as another way of gaining recognition and revenue from customers. These tokens allow proving the authenticity and uniqueness of particular products, which makes them valuable for collectors and those who want to possess exclusively authentic products from their favorite brands.

    In order to make the process of implementing NFT tokens into the brands’ markets easier and the process of buying these tokens easier and more flexible for users, the client came up with an idea to create a specialized marketplace. The solution is supposed to help popular brands create and sell NFT tokens and help users purchase and trade among themselves.

    Technologies

    What Was Done

    SOLUTION


    Our team developed from scratch the versatile platform which allows users to create, buy and sell assets via mobile and web applications.

    The first part of the solution represents a web application. It allows brands to create, manage and put their NFT tokens for sale. Users can put and get out already owned NFT tokens for sale, buy them directly from brands or other users, or participate in the auctions.

    Clicking on the item, they open a section with more detailed information on the particular item.  It gives an ability to read a description of the item, have a closer look at it, see all the listings of this item and more.
    By clicking on the “Show Listings” button, a user can see all the listings and the information about them: a serial number of the listing, its owner, the best offer (if the item is put on the auction) and the current price of the item.

    Another part of our solution was the mobile application. It allows users to manage the NFT items they already possess, buy new ones directly from the issuers and other users as well as participate in the auctions.

    The users can get all the information on the NFT items just like from the web application: the general information about the item, which gets expanded when a user taps on a particular item.

    Also, the application has the feature of packing different items into one bundle.

    The application interface is simple and intuitive so that any user can get used to operating the application quickly and easily, no matter which platform (web, mobile) or side (brand’s or user’s) is considered.

     

    PROCESS

    The client had a clear vision of how the application should work but needed assistance in understanding how to create it. So, our team has created mock-ups of the basic architecture and design of the application to calculate the approximate development cost.

    We solved the issues with everything else, considering the development process: creating the design of the application, its architecture, offering ideas on the application’s functionality and their implementation, maintaining the application after the release. Due to the close cooperation of our Business Analyst and Project Manager with the client, we managed to turn the general idea of the application into a fully functioning flexible platform for selling NFT items for both crypto- and fiat currencies to a wide range of users.

    During the Discovery phase, our team analyzed the client’s wishes, dived deeply into exploring the ways of the solutions’ implementations and figured out the best possible technological solutions. We designed a mock-up of the application, created a detailed plan for the development of each module and agreed with the client on the workflow. 

    According to the specifications and requirements, we recommended the technologies and frameworks that perfectly suited the client's needs. For instance, Flutter was chosen during the creation of the platform. It allows for more comfortable and rapid development and QA processes since the application versions for different platforms are based on a single code instance. All the changes in the code are automatically applied to all platforms, which speeds up the updating process, and fixing bugs in the code fixes bugs for all the platforms as well. This reduces the costs of development and QA significantly.

    Participation in auctions is regulated by the Know Your Customer terms. To keep users’ data safe, we’ve implemented Onfido API.

    To make the process of interacting with NFT items easy and secure, we’ve also implemented a set of solutions:

    • MetaMask to make NFT tokens available for withdrawal from the platform;
    • Coinbase for payments with cryptocurrencies;
    • Circle for payments with fiat money.

    After agreement of the work breakdown structure with the client, we got down to developing the MVP. We delivered module by module every two weeks, discussed tasks in Slack and had tasks tracked in Jira. Each development phase concluded with the unit and manual testing, so we could detect and fix even the smallest bugs at the earliest possible stage, preventing them from turning into great issues. 

    PROJECT TEAM

    • 4 Backend Developers
    • 2 Frontend Developers
    • 2 Business Analysts
    • 1 Project Manager
    • 2 QA Engineers

    PROJECT DURATION

    • 3 months for MVP
    • The project continues, at this stage we support the platform and implement new functionality

    TECHNOLOGIES

    • Backend: PHP, Laravel
    • Frontend: ReactJS, VueJS
    • Mobile: Flutter
    • DevOps: Amazon SQS, AWS, S3, EC2
    • Platforms: Web, Mobile

    OUTCOME

    As we’ve conducted a deep analysis of the client’s intentions and needs, we’ve come with a platform that allows for storing NFT items, putting them on sale and bundling them. The application’s design allows for comfortable usage of the app for users with any level of experience, which makes the service available to a wide audience. Variable payment methods also support this availability.

    The service is still under development: our team is designing the new features and implementing them. But even at this stage, the product allowed our client to gain trust and interest from a wide range of recognized brands, which resulted in some of them becoming partners and users of the service.

    In case of some specific request, or technology not listed here, you can discuss it with an expert at contact@innowise-group.com or Skype Innowise

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