A Blockchain based NFT Marketplace for Secure and Scalable Digital Asset Trading

Abstract

The arrival of blockchain technology has revolutionized the market for digital assets with secure, transparent, and decentralized transactions. This paper presents a new blockchain-based digital asset marketplace on NFTs (Non-Fungible Tokens) to tokenize and exchange digital and physical assets. Our marketplace utilizes Polygon blockchain to support low fees and high scalability, and it offers accessibility and efficiency. Land record management and tokenization of rare commodities, images, and videos are some of the main use cases. The marketplace utilizes Next.js for frontend development, Solidity for smart contracts, MongoDB for storing data, and IPFS for decentralized storage of assets. This paper explains the architecture, smart contract design, and security mechanisms to deliver fraud-proof and verifiable transactions. The suggested system is designed to deliver greater trust, ownership verification, and liquidity in the digital asset market, making blockchain-based marketplaces more user-friendly, cost-effective, and scalable.