Video-on-Demand Platform For NFT Artists, Fans, and Buyers
A web-based solution integrated with Decentralized Data Cloud for creating, distributing, and selling NFT collectibles
Industry
NFT Marketplace
Team
5 members
Launched
2022
Country
USA
About a Project
Our customer is a US company based in San Francisco, CA. It provides clients with high-tech B2C services, particularly decentralized data and finances (DeFi). Our customer wanted to expand the presence area with an NFT solution for linking digital artists and their fans and buyers and was looking for a software company to develop such a platform.
Goals set to Cleveroad
Develop the solution that allows users to view, buy, and auction various NFT collectibles, interacting with parties directly
Build an interconnected system including Cere Network solutions, media converter, and a fan platform for NFT creation and sharing
Create a new revenue stream and enlarge the capitalization by enabling the monetization model based on NFT and digital payments
Solutions we've delivered
Creation of the web-based platform that connects digital content creators, art fans, and buyers by means of the video-on-demand solution
Integration of the platform developed with the Cere Network’s Decentralized Data Cloud (DDC), the solution for encrypted data sharing
Platform’s integration with the Freeport CRM (solution for NFT sellers) and payment gateway that allows users to pay for content with fiat currencies and cryptocurrency
Results for the Customer
The new NFT Experience Platform links NFTs between brands and consumers and connects content producers to foster direct artist/fan relationships avoiding Big Tech companies
An NFT application is connected to the existing DDC Platform and supports placing, viewing, and paying for media content as a part of multicomponent solution
The customer can increase the entire business capitalization and income from operations with NFT media assets: their sale on the platform and payments via digital wallets
Business Challenges
Our customer belongs to the latest generation of Silicon Valley tech businesses and has a strong presence in decentralized data, assets, and finance domain. The company needed a new solution that unites creators and fans of crypto art to expand its market share in media and Non-Fungible Tokens (NFTs). Therefore, our customer was looking for a tech partner to:
Develop a web-based platform that supports NFT: a solution within the customer’s digital ecosystem allowing users to request video conversion, encrypt chunks, and upload them when encrypted, as well as sell and buy such content.
Connect the platform with customer’s powers: Freeport, an all-in-one solution suite for NFT backed assets, and the Decentralized Data Cloud (DDC), the blockchain-based storage optimized to capture interactions between users and applications.
Tie up together the Cere system, media converter, payment gateway, and a fan platform to create an interconnected environment and enable an innovative monetization model allowing payments for content with the NFT and cryptocurrency.
Project in Details
A web platform for creating and distributing NFT content was successfully developed and integrated with the customer's existing tech solutions
Business Architecture
- To provide the customer with a platform for operating with non-fungible tokens, we’ve conducted the Discovery stage and continued to work within the Dedicated Team model. An application was created as an NFT marketplace connected to the Decentralized Data Cloud Platform, a Cere Network’s solution for encrypted data sharing. The main authorization module allows users to pass the registration, review actual offers, and purchase NFTs.
- A payment module was also included in the solution. It allows users to pay with NFT, fiat currencies, and cryptocurrency, managing their wallets within the platform (Metamask and WalletConnect). For owners of NFT assets (to offer and sell them), we have provided integration with Cere Freeport, an NFT creator suite. The solution was designed considering the monetization model that our customer planned to implement.
- An auction module allows users to make bids for the limited NFTs. A Video Gallery was implemented into the platform so that users can review videos, purchase the NFTs provided by artists, and create a unique collection of NFTs. A Video Player consumes encrypted chunks of video to use in creation of art pieces. Landing pages highlight the artist’s work, upcoming events, and NFTs available for purchase.
Product Essentials
Key modules and integrations that reveal the essence and functionality of the developed platform
The Authorization module allows users to pass through the registration via the standard “email and password” process or authenticate with existing accounts on Google or Facebook. Signing in to the profile is also available via email/password or Google/Facebook account.
In the account, users can create, view, and manage their NFT Collection. Artists are able to add their content and post it on the platform, as well as communicate with fans, notifying them of upcoming events with posters.
NFT Marketplace is the main application’s module that allows browsing different offers from the creators. There can be several types of offers: usual collectible NFTs or special limited offers via auction. The main user module also allows users to review current NFT offers (both digital items and real-life events).
Users can create NFT wallets within the system and manage them to make payments and become NFT owners. The NFT Marketplace module allows purchases using those wallets or several other non-custodial wallets. In addition, NFT with encrypted objects can be delivered to the user wallet due to the platform’s integration with Cere Freeport.
The Payment module provides users with a wide range of payment methods, from usual credit cards to Non-Custodial wallets (Metamask and WalletConnect). A Custodial DaVinci Wallet is managed by the platform.
Integrating with Cere Freeport made it possible to accept NFT, fiat, and cryptocurrency, process NFT blockchain transactions, deliver NFTs, re-encrypt, and store asset data on Cere DDC. Adding several types of cryptocurrency wallets in combination with the usual payment methods has enlarged the auditory coverage.
The Blockchain module is responsible for the connection to the Polygon network and smart contracts, reducing the gas fee for the transactions and increasing overall performance related to the Web3 operations. The leading cryptocurrency used is MATIC tokens. It governs and secures the Polygon network and allows payment of transaction fees.
Several contract types are allowed on the platform:
- An NFT smart contract for implementing a sale agreement between the NFT owner and the purchaser. Such contracts are self-executing and can check terms satisfaction and execution without intermediaries or central authority.
- Blockchain Auctions. The item's owner published its information to the blockchain, so the bidders can cast their price considering the deadline. The smart contract supports the actions in both phases.
A VideoGallery allows users to review videos placed on the platform and choose NFT collectibles to purchase or auction. A Video Player integrated into the platform consumes encrypted chunks of video.
Landing pages represent and highlight the artist’s work, upcoming concerts, and other events. The information on the landing pages allows fans and buyers to evaluate the content presented, view the artist’s short bio, number of followers, and NFT tickets available for purchasing
Development in Detail
- We've conducted an onboarding (2 weeks) to dive into the project and ensure we can prepare initial project documentation. Our customer requested a Dedicated team model, so we gathered our experts for the project. The Team Composition included two software developers, a designer, a QA engineer, and a project manager. Our team conducts regular planning sessions during the development process with the involvement of both teams and the Solution Architect from our side to ensure the project is going correctly and deliver the best result.
- Payments with FIAT and USDT are allowed via Circle Payments. For cryptocurrency, there are two ways to manage user wallets: Metamask and WalletConnect. The auction mechanism was implemented via smart contracts deployed to the blockchain. It makes the platform more transparent to its users and helps decrease gas fees within the system.
- We’ve been involved in designing and integrating the Cere Freeport solution suite for NFT-backed assets. This CRM allows sellers to upload their NFTs and extend offerings with extras that make app NFTs engaging and raise their collectibility, exclusivity, and value.
- We’ve also integrated the NFT application with Cere’s DDC. It is an all-in-one solution suite and blockchain-based storage optimized to capture interactions between users, NFTs, and apps signed and encrypted individually. DCC also allows storing digital assets in a tamper-proof data frame.
Technology stack
The technology stack was chosen, considering customer’s DDC and blockchain solutions and the platform’s required functionality
Web Architecture
Backend
Kotlin
Frontend
React
Smart contracts
Solidity
Mobile Architecture
Compliance
Material 3 UI
CSS Flex layout
CSS grid layout
Results Obtained
An innovative platform to host and exchange NFTs
Our customer received a state-of-the-art web-based platform where NFT creators, owners, fans, and dealers can communicate directly and make content via video-on-demand. The solution allows users to sell and buy collectibles and event NFT tickets without the involvement of third parties or Big Tech companies, which enlarges the number of interested consumers and the credibility of the service offerings.
An interconnected system with an NFT solution
We have integrated the platform with the customer's existing solutions for encrypted data sharing, buying NFTs, and paying for them with fiat money and cryptocurrencies. So now, all the company's technological services can work together, uniting into an interconnected ecosystem and increasing the overall value due to the synergy effect.
A revenue stream from the new monetization model
Our customer received a platform with an integrated payment gateway, digital wallet functionality, and the ability to pay for content using NFT, fiat and cryptocurrency, reducing gas fees. The solution made it possible to implement an innovative monetization model. A company can tap into a new NFT revenue stream, increasing its business capitalization.
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