NFT Marketplace for Geospatial Data Using Blockchain

Abstract

Rights that can be transferred to digital assets like pictures, videos, or music are known as non-fungible tokens (NFTs). The phenomenon and its marketplaces have grown dramatically since early 2021. NFT marketplaces are becoming more prevalent since a few years ago. Most of them store digital materials on centralized systems (files). This study makes a recommendation for a secure trading environment for non-fungible tokenized digital assets. Users will be able to create new digital assets and exchange them for Ethereum-based currency. Also, the IPFS protocol-based decentralized file system's technological potential for more secure digital asset storage is examined. In this approach, the problem of file storage is attempted to be solved. It also represents an effort to promote the usage of blockchain technology. In a typical storage system, the user and provider sign a digitalized contract that gives the user legal recourse against the provider should their data be lost, compromised, or sold to a third party for services that they do not supply.Geospatial Data can be safely stored and secured by the user. To make the storage system more secure, two ERC rules will be used.The files are distributedly stored using this technology's decentralized network, which prohibits unauthorized access to the storage system. The blockchain project relies on hashing to function. Every block in a blockchain creates a hash using the SHA 256 hashing algorithm.