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NFT Marketplace

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Challenge

BlockMelon was founded with the goal of launching a marketplace to sell digital assets using NFT technology to transfer ownership to buyers. As the NFT market was just starting to gain traction, we recognized the importance of timing and set out to develop an MVP to test our idea with our target audience.

  • Date
    April, 2022
  • Technology
    Blockchain

Market analysis

To understand the needs of our target audience and identify areas where our product could differentiate itself from the competition, we conducted market research and created a decision matrix to guide our technology stack selection. We then mapped out the features and user journeys for both sellers and buyers, working with a graphic design company to create a user-friendly UI/UX.

Solution

Our MVP, developed in just four months, included core features such as a login system using MetaMask Wallet, a verification process through social media, a seller application and notification system, the ability to list NFTs and collections on the Binance Smart Chain, a 24-hour auction system through a smart contract, user notifications, profiles with a follower system, and an identity and access management system.

After releasing the MVP, we conducted user testing and received initial feedback, using two-week sprints to implement additional improvements based on user feedback. Our efforts paid off, as we were able to successfully demonstrate the potential of our product to a German bank in a different niche.

Result

Overall, the development of the NFT marketplace was a valuable learning experience for our team, allowing us to gain hands-on experience with web3 and work collaboratively to build a functional product.

Tech Stack

To build out our platform, we utilized a variety of technologies including Solidity for our smart contracts, Next.js and Node.js for the front and back end of the web application, OpenZeppelin for security, PlanetScale for data storage, AWS S3 and IPFS for digital asset storage, AWS ECS for infrastructure, and CloudFlare for firewall and CDN.

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