IMPLEMENTATION OF NFT PLATFORM USING BLOCKCHAIN

Abstract

Before a good can be purchased, it must be understood who has the authority to sell it, and once a purchase has been made, ownership must be transferred from the seller to the purchaser. The solution provided by NFTs allows parties to agree on a common agreement i.e., smart contract of what constitutes ownership. Digital artists truly faced many problems in the ownership and credit of their artworks in fast growing digital world. They are worried about conducting online exhibitions of their artworks because it can be easily forged or replicated by someone. The same problems apply to real-world works of art, although things are a bit simpler when it comes to determining their authenticity. Blockchain is a revolutionary technology and will have great positive effects in our business environment soon. NFT stands for Non-Fungible Token. An NFT can be considered just a digital form of real-world entities. They are traded online, generally with different types of cryptocurrencies.