NFT Marketplace System Build Using Django
Abstract
Table of Contents
Multiple ways to make money have emerged as a result of technological innovation. Online trade and marketing have grown in popularity as a result of technological advancements. NFT trading is one of the most popular money-making techniques nowadays. NFT stands for Non-fungible Token, and it is a digital representation of any asset, including digital artworks. “NFTs saw exponential growth in 2021, but this growth hasn’t been continuous and has leveled off so far in 2022,” according to Chainalysis. Aside from being a boon to traders and artists, it has also drawn a large number of hackers and scammers, resulting in a decline in NFT trading accounts. Hacking and stealing NFTs has become a big issue for NFT traders. The researchers saw this difficulty as a chance to explore deeper into the field of NFT. The researchers advocated creating a centralized, safe, and trustworthy NFT marketplace. The capstone project, “NFT Marketplace System Built Using Django,” is intended to serve as a secure and centralized platform for NFT traders to conduct business. NFT traders will be able to register their accounts on the site and place bids for the digital assets they sell, such as digital artworks. The researchers will develop the project using the Django Platform. They aim to benefit NFT traders by developing this project. End-users and a panel of IT professionals will review, test, and evaluate the project.
Introduction of the Study
Everything has certainly become more advanced and technical due to information technology. The capstone project, “NFT Marketplace System Built Using Django,” is intended to serve as a centralized and highly secure platform for NFT traders. Registered accounts will be able to upload NFTs such as digital artworks to the system. Traders can browse and bid on NFTs on the aforementioned marketplace. The researchers will use Django to build the software, ensuring that all NFT things are secure and that the original owner receives the proceeds.
NFT trading is one of the most popular ways to make money these days. The term NFT refers to a digital representation of any object, including digital artworks. Apart from being beneficial to traders and artists, NFT trading has attracted a huge number of hackers and scammers, resulting in a drop in NFT trading accounts. For NFT traders, hacking and stealing NFTs has become a major problem. This challenge provided an opportunity for the researchers to go deeper into the topic of NFT.
Proposed Solution
The study’s researchers advocated the creation of the NFT Marketplace System Built Using Django to address the aforementioned challenges. The project would provide NFT traders with a secure and centralized platform to conduct business. NFT traders can create accounts on the site and submit bids on the digital assets they sell, such as digital artworks. The project will be built on the Django Platform by the researchers. By establishing this product, they hope to aid NFT traders. The project will make it less likely for NFT accounts to be hacked and NFTs to be stolen. Authentic NFTs are uploaded by their original owners to our safe marketplace.
Objectives of the Study
General Objectives – the main goal of the researchers is to design, develop and implement a Django-based NFT Marketplace System.
The following are the specific objectives of the researchers:
- To design an NFT Marketplace System in Django where NFT traders can offer and market their NFTs online.
- To develop a system that will allow clients to inquire and bid NFT they like safely.
- To streamline transactions between NFT traders.
- To eliminate some risk anchored to not having a centralized and secure NFT marketplace.
- To make NFT trading transactions easy, fast, reliable, and convenient.
- To evaluate the system in terms of user acceptability, effectiveness, product quality, and reliability.
Scope of the Study
The project’s main goal is to construct a Django-based NFT marketplace system for NFT traders. The system limits NFT traders from uploading and bidding on NFTs. The platform was created to facilitate and simplify secure transactions amongst NFT traders. The researchers will assemble a sample size of NFT traders to act as study participants.
Significance of the Study
The success of the project is beneficial to the following individuals:
NFT Traders. The project’s success will immediately benefit them. They will be able to promote their NFTs electronically and reach a wider audience thanks to the platform. They can answer clients swiftly and effectively. The platform will boost revenue while also improving customer service satisfaction.
Researchers. Their knowledge and skills in establishing successful programs will be enhanced as a result of the project’s success.
Future Researchers. They will use the research as a guide for making improvements or building their version of the project.
Development Tools
“NFT Marketplace System Built Using Django,” is intended to serve as a centralized and highly secure platform for NFT traders. Registered accounts will be able to upload NFTs such as digital artworks to the system.
This article will provide you with an idea on what are the forms to be included in an NFT Marketplace System Built Using Django.
Documentation of the project is available upon request (chapters 1 to 5). Feel free to message us for the complete documentation of the project.
Project Highlights
The capstone project, “NFT Marketplace System Built Using Django” is a database-driven system that will advance the processes of NFT Trading. The system will help in providing fast, accurate, and reliable services to NFT traders.
The following are the advantages of the System:
- Automated Business process- business transactions between the NFT traders will be done electronically and on a secure platform
- Records Management – This is a database system that stores records into electronic, secure, accurate, dependable, and rapid records.
- Reporting – the system generates and distributes real-time reports on the services provided and jobs done utilizing the system.
How the System Works
This section of the paper will explain the forms, modules and user interface of NFT Marketplace System built using Django. The article’s content discusses the features and how the system works.
Auctions – this module displays NFTs that are up for bidding. The module contains the name of the NFT as well as the number of stocks and price.
Shown below is the design of the Auction Module.
Bid – this module will allow the user to place a bid by entering the amount of bid in USD and the quantity.
The image displayed below is the design of the Bid Module.
Deposit – this module will allow depositing money that user bid for an NFT. To deposit, the user should enter the amount and chose a payment gateway.
The image shown below is the design of the Deposit Module.
CREDITS TO THE DEVELOPERS OF THE PROJECT
Conclusion
In this study, the researchers developed an NFT Marketplace System Using Django. The reason behind the project is to advance and strengthen the security of NFTs being traded. The developed project was presented to the target end-users and respondents for assessment. The result showed that the target users rated the system satisfactorily. The majority of them have seen the potential of the system in providing their needs and requirements in terms of NFT Trading.
As a result, the researchers concluded that the developed system is a viable solution for streamlining the transaction process between NFT traders. The said project will offer a centralized, secure, and reliable NFT trading marketplace.
Recommendations
The project’s researchers strongly advise that the NFT Marketplace System in Django be implemented as a centralized platform for NFT Traders. The system comes highly recommended because of its effectiveness and dependability in securing NFT trading. The researchers stress the importance of intended users having sufficient knowledge of how the system works to use it correctly.
- The researchers suggest that NFT Traders registered on the online platform to market their NFTs in a secure environment.
- The implementation of the system is highly recommended for it will be an efficient and effective system to streamline the process of bidding for NFTs.
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