Blockchain-Based Decentralized NFT Marketplace For New Fine Art

Tushar Maurya; Saurav Kumar Singh; Vikram Thakur; Sachin Chawla

doi:10.55524/ijirem.2024.11.3.2

Abstract

Nonfungible tokens (NFTs) are distinct digital assets that provide digital content ownership and legitimacy. An NFTs Market is a blockchain-based platform that makes it easier to create, trade, and collect NFTs. This article delves into the NFT Marketplace and its blockchain technology, highlighting its tokenization capabilities for any type of property, its ability to create smart contracts with flexibility, and its promotion of NFTs with quick and inexpensive exchanges. The pros and cons of the platform are also covered, including issues with scalability, user-friendliness, and fraud susceptibility. The appearance of non-fungible tokens (NFTs) for artists and content providers has ushered in a new era of unexpected opportunities for financial freedom and reimbursement in the digital art business!! This article describes the developmental importance of the NFT markets, which allow artists to sell their products directly to customers, bypassing traditional intermediaries like galleries and auction houses. The first abstract describes the NFT market's exponential growth and demonstrates how it may become a valuable source of income for talented individuals. It is written from two distinct points of view. Meanwhile, the second abstract highlights NFTs in particular and introduces OpenNFT, A decentralized web app that offers safe and effective digital asset management by fusing deep learning models with blockchain technology!! This web application integrates features including minting, markets, safe wallet connections, NFTs image creation, and profile management to show how deep learning and blockchain technology can transform digital asset administration.

Keywords

NFT, Token, Blockchain, Market, Asset

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Cites this article as

T. Maurya, S. K. Singh, V. Thakur, S. Chawla, "Blockchain-Based Decentralized NFT Marketplace For New Fine Art", International Journal of Innovative Research in Engineering & Management (IJIREM), Vol-11, Issue-3, Page No-5-10, 2024. Available from: https://doi.org/10.55524/ijirem.2024.11.3.2