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Customer Profile
Our client needed a decentralized marketplace where users can mint, sell, buy, or bid sports collectibles.
Problem Statement
Collectible stuff like sports cards, images, videos, etc. has always been popular amongst sports enthusiasts. However, modern tech-savvy individuals prefer digitalized versions of sports collectibles, and it isn’t easy to find the right place for accessing them. Besides, most digital platforms selling sports collectibles have limitations like authenticity woes, the absence of transparency, the lack of multiple options for users, etc.
Result
Biz4Solutions helped the client to develop a Blockchain-based NFT marketplace that can be used by individuals who wish to invest in sports collectibles or trade collectibles in the form of NFTs. The platform consolidates sports NFT sellers and buyers and facilitates effortless communication. It is the ideal solution for fulfilling the high market demand for sports NFTs.
Overview
Biz4Solutions tailored a Blockchain-powered NFT aggregation platform for the sports industry. Here, users can mint, auction, and trade sports collectibles or fan tokens. It is a simple, compliant, and interoperable platform for trading virtually all Sports or Esport assets in a tokenized form. For example, sports equipment and collectibles like trophies, awards, autographs, etc. can be converted into tokens and turned into digital assets. Users can share their experiences by rating sellers and providing reviews. Ratings and reviews by existing users help newbie users gain insights into the real worth of collectibles and figure out the reliability & authenticity of every seller registered on the platform.
Developmental Challenges
Our team came across the following developmental challenge:
- Smart Contract Risks and Maintenance of NFTs.
Result
The risk of smart contracts and NFT maintenance is a prominent one currently prevailing in the NFT market. There are several scenarios where hackers attack a DeFi (Decentralized Finance) network and steal a large amount of crypto. So we did our internal Audit through Slither (The Slither framework provides automated vulnerability and optimization detection) and also Audited our product from Hacken org and fixed all the vulnerability according to Hacken Audit Report.
Benefits
- Sports enthusiasts can save exclusive game moments in the form of NFTs.
- Sportspersons can tokenize their photographs or signatures into valuable assets.
- Users can boast of a unique collection by storing NFT sports collectibles.
- The platform generates an instant liquidity pool where NFT assets can be traded.
- IPFS integration ensures that the NFT data stored in the smart contract is tamper-proof.
If you are interested in knowing more about our success stories in the Blockchain development arena or looking for a similar kind of decentralized marketplace solution, then hit the button below to share the scope and requirements of your project.