An NFT marketplace provides an e-commerce site for transacting NFTs — unique digital objects whose ownership, provenance, and history are recorded by smart contracts on cryptographically secured digital ledgers.
As a result, they may not be copied, substituted, altered, or tampered with. They can be issued (mined), transferred to others (such as a sale/purchase transaction or auction), and burned (destroyed).
NFTs can be used to register and transfer ownership of digital artwork, unique photographs or videos, virtual business cards, images, and product registration of physical objects. They can be mined to include content from specific moments of sports games or concert events with unique customization, but can also represent (often fractional) ownership of real estate, investments following Environmental, Social and Governance (ESG) principles, content product and manufacturing history, certifications and ratings, and much more.
NFT Marketplace works similar to an eCommerce site, but uses a blockchain and content management services as part of its backend infrastructure.
Oracle customers currently use NFTs mined on the Oracle Blockchain Platform to provide:
A marketplace for iconic photos from a global news agency
An enriched membership experience in a fan club of an international music star
Trade in custom digital items related to an American soccer team and the movie about the iconic family that owned the team’s franchise
This solution shows an example of how you can use the Oracle Blockchain Platform and Oracle Cloud Infrastructure to create an NFT marketplace.
Architecture
This architecture shows an example of an NFT marketplace on Oracle Cloud Infrastructure (OCI). Use this architecture to build an NFT marketplace Development with Oracle Blockchain Platform on Oracle Cloud Infrastructure .
The following are the key components of an NFT marketplace:
Blockchain platform that provides a decentralized ledger and enables smart contracts for the issuance and trading of NFTs
Content management platform that allows the storage, development and assembly of the digital objects that make up an NFT
A UX platform for creating a Marketplace UI and workflow associated with mining NFTs, browsing available NFTs, buying/selling transactions, and handling payments.
The following diagram shows the core services and some of the optional services that you can add as needed.
Below is the description of build-nft-marketplace-blockchain Description of the illustration build-nft-marketplace-blockchain.
NFT Marketplace is a custom Visual Builder Cloud Service (VBCS) application with a web and mobile user interface. You can tailor its scope and functionality to your specific organizational needs. You can design the UI to have specific user flows involving NFTs for a consumer collection customer experience vs. an app for B2B data game trading vs. an ESG investment portal. This solution playbook provides specific instructions for enabling a Visual Builder low-code development framework using the APIs to:
Content management using Oracle Content Management and authoring plugins
Mining, listing, and transfer of NFTs using Oracle Blockchain Platform REST APIs (via OCI API Gateway)
Payment processing using the Oracle Integration PayPal Adapter or Oracle CX Commerce Platform
Optional Data Visualizations and Dashboards with Oracle Analytics Cloud
The architecture has the following key components:
Region
An Oracle Cloud Infrastructure region is a localized geographic area that contains one or more data centers, called availability domains. Regions are independent of other regions and large distances can separate (between countries and even continents).
Lease
A tenancy is a secure, isolated partition that Oracle sets up in Oracle Cloud by signing up for Oracle Cloud Infrastructure . You can create, organize, and manage your resources in Oracle Cloud in your tenancy. A lease is synonymous with a company or organization. Typically, a company will have a single lease and will reflect its organizational structure within that lease. A single tenancy is typically associated with a single subscription, and a single subscription is typically associated with a single tenancy.
Oracle Blockchain Platform
Oracle Blockchain Platform is a managed blockchain service that provides a tamper-proof distributed ledger to record the issuance (deletion) of NFTs and maintain NFT transaction history, as well as infrastructure nodes to execute smart contracts for transactions. of NFTs. It is a pre-assembled and permissioned platform based on Hyperledger Fabric that can function on its own or as part of a network consisting of validation nodes (peers). These nodes update the ledger and respond to queries by executing smart contract code, the business logic that runs on the blockchain.
External applications call transactions or execute queries through client SDKs or REST API calls, which ask selected peers to execute smart contracts, such as the contract ERC-721generated and deployed in the Develop section . Multiple peers approve (digitally sign) the results, which are then verified and sent to the ordering Nft Marketplace Development service. Once consensus on the transaction order is reached, the transaction results are packaged into cryptographically secure, tamper-proof data blocks and sent to peer nodes for validation and ledger addition.
With Oracle Blockchain Platform , you can perform a few simple instantiation steps, and then Oracle takes care of service management, patching, monitoring, and other service lifecycle tasks. Service administrators can use the Oracle Blockchain Platform web console or its REST APIs to configure the blockchain and control its operation. For more information, see the Explore More section .
Oracle Content Management (OCM)
Oracle Content Management offers marketers, developers, and business leaders a robust content management system based on an easy-to-use platform with APIs. It offers security and efficiency to create, manage, store and deliver digital assets and sites that scale to adapt to the growing needs and complexities of the business.
