NFT Marketplace for Blockchain based Digital Assets using ERC-721 Token Standard
Ashritha Konagari, Hari Priya Kusuma, Sangeetha Chetharasi, Ramu Kuchipudi, Palamakula Ramesh Babu, T. Satyanarayana Murthy
Abstract
Blockchain technology has drawn increasing interest in recent years as a technology that will dominate a wide range of industries in the future The non-fungible token is a brand-new kind of Ethereum - based token that is unique and indivisible (NFT). Recently, investors have shown a lot of interest in a specific category of blockchain-based virtual assets called NFTs. Since the beginning of 2021, the phenomenon and its marketplaces have expanded considerably. The Ethereum network is used in this project to demonstrate and test the concept of digital ownership transfers and control. This project offers the ability to create, purchase, sell, and trade NFTs. This experiment shows how the reader can generate an NFT token on their own using the Ethereum network’s ERC721 token standard. Moreover, it addresses distribution and setup. Yet it is the another case for the blockchain which is the possibility of making money with it. This application’s users will be able to buy and sell NFTs using the virtual currency, Ether.