BLOCKCHAIN
LAB
1
Mini Project Report On
“Gaming NFT Marketplace”
Submitted
by
Akash Chaudhari
Prashik Gawai
Rushabh Dhamne
Under the guidance
of
Prof. Deepali Narkhede
Department of Information Technology
Shivajirao S. Jondhale College of
Engineering Dombivli(E)
(Affiliated to University of
Mumbai) (2023-24)
2
Samarth Samaj’s
SHIVAJIRAO S. JONDHALE COLLEGE OF ENGINEERING DOMBIVLI(E)
(Affiliated to University of Mumbai)
CERTIFICATE
This is to certify that the mini project report entitled “Gaming NFT Marketplace” is submitted in final
year sem-VIII during the academic year 2023-24
Akash Chaudhari
Prashik Gawai
Rushabh Dhamne
Prof. Deepali Narkhede
Subject Incharge External Examiner
Dr. Savita Sangam
Head of Department
3
Table of Contents
Chapter Topic Page No.
Abstract
List of Figures
List of Tables
Chapter 1 Introduction
1.1 Motivation
1.2 Problem Statement
1.3 Objectives
1.4 Scope
Chapter 2 Review of Literature
Chapter 3 Proposed System
3.1 Algorithm/Flowchart
3.2 Pseudo code
Chapter 4 Results and Discussion (Screenshots of the
output with description)
Chapter 5 Conclusion
4
Chapter 6 Future Scope
References
5
LIST OF FIGURES
Sr. No Name of Figure Page. No
3.1 Block Diagram 5
5.1 Result 7
6
Abstract
The gaming industry is rapidly evolving, and non-fungible tokens (NFTs) have
emerged as a new and exciting way to enhance the gaming experience. A
gaming NFT marketplace is a platform that allows gamers to buy, sell, and trade
NFTs related to their favorite games. These NFTs could be anything from in-
game items, such as weapons and skins, to unique game experiences and even
digital collectibles. The marketplace provides a secure and transparent
environment for transactions, as well as a platform for developers to showcase
their NFT creations. With the increasing popularity of gaming and NFTs, a
gaming NFT marketplace has the potential to revolutionize the way gamers
interact with their favorite games and with each other.
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1. INTRODUCTION
1.1 Introduction
A blockchain is a type of distributed database or ledger—one of today's top tech
trends—which means the power to update a blockchain is distributed between
the nodes, or participants, of a public or private computer network. This is
known as distributed ledger technology, or DLT.
A non-fungible token (NFT) is a unique digital identifier that cannot be copied,
substituted, or subdivided, that is recorded in a blockchain, and that is used to
certify ownership and authenticity.
Digital asset management (DAM) is both a business process and an information
management technology, which creates a centralized system for organizations to
organize and access their media assets.
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1.2 Problem Statement
The So many people hold digital collectibles (digital assets like gaming
NFT’s) and they need a place to buy and sell them. Digital asset marketplaces
or DAM provide a complete framework for their users. DAM act as a trusted
intermediary between issuers and investors of digital assets. They propose a
set of tools and services to facilitate transactions between the different users.
Players / Streamers are the stakeholders and the target audience are between
the age of 18-24.
1.3 Aims and Objectives
The aim of a NFT marketplace is to provide a secure and transparent platform
for the buying, selling, and trading of unique digital assets. These assets,
represented by NFTs, can range from digital art, music, and collectibles to in-
game items and experiences. By creating a decentralized marketplace, the aim
is to empower creators and collectors to control the distribution and value of
their digital assets, while also providing a trusted platform for transactions.
Ultimately, the aim of a NFT marketplace is to enable a new era of ownership
and value exchange in the digital world, where unique digital assets are valued
and traded just like physical ones.
Objectives:
Our proposed system has the following objectives to serve:
1. Digital Assets Exchange
2. Trusted intermediary between issuers and investors of digital assets.
3. Help gamers to store, organize, find, retrieve and share their entire digital content
catalog from one place, i.e., a “single source of truth”.
4. Provides a platform for gamers for exchange of valuable gaming collectibles.
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1.4 Advantages
Ownership and Authenticity: NFTs provide a unique digital ownership
experience, which means that owning an NFT gives the buyer proof of
ownership over a specific digital asset. This is especially important in
gaming, where in-game items and assets can hold significant value.
Additionally, NFTs are tamper-proof and cannot be replicated, making
them highly secure and authentic.
Decentralized and Transparent: NFT marketplaces are often built on
blockchain technology, which provides a decentralized and transparent
platform for transactions. This means that transactions can be viewed by
anyone on the network, ensuring transparency and eliminating the need
for intermediaries.
Additional Revenue Streams: For developers and content creators, an
NFT marketplace offers an additional revenue stream beyond traditional
game sales. They can monetize unique in-game items, skins, and other
assets, which can hold significant value and create a market for gamers to
trade these assets.
Disadvantages
Environmental impact: The energy consumption required for creating and
trading NFTs has raised concerns about its impact on the environment.
Technical issues: NFTs rely on blockchain technology, which can be
complex and prone to technical issues, such as high transaction fees, slow
processing times, and network congestion.
Lack of regulation: NFTs are still a relatively new technology, and there
is little regulation in place to protect consumers from fraud or ensure fair
pricing.
Speculative pricing: The value of NFTs is often driven by hype and
speculation, which can lead to inflated prices that do not reflect the actual
value of the underlying asset.
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1.5 Applications
Gaming: An NFT marketplace can be used for trading in-game items such as
weapons, skins, avatars, and other virtual assets. This would allow gamers
to own unique and rare items that can enhance their gaming experience.
Art: NFT marketplaces can also be used for buying and selling digital art.
Artists can create unique pieces of digital art and sell them as NFTs,
providing a new way for artists to monetize their work.
Collectibles: NFT marketplaces can be used for buying and selling digital
collectibles, such as trading cards or figurines. Collectors can own unique
and rare digital collectibles that are verified on the blockchain.
Real estate: An NFT marketplace can be used for buying and selling virtual
real estate. This would allow users to own virtual plots of land or
buildings in virtual worlds such as Decentralized and or Somnium Space.
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2. LITERATURE SURVEY
Sr Title Year Description Publication
No.
1. Digital Asset 2020 The article evaluates the central Journal of
Market stages of the evolution of the Corporation
Evolution market in digital assets and their Law
effects on market participants. It
presents and compares market
data for initial coin offerings,
equity offerings, and initial
exchange offerings in blockchain
and digital asset startups. The
author examines data trends and
their underlying causes in the
evolution of the market for
digital assets.
2. Proof of 2018 Blockchain is used to create a IEEE
Delivery of decentralized solution. Utilizing
Digital blockchain’s immutable and
Assets Using tamper-proof logs, accountability
Blockchain and auditability can be easily
and Smart achieved. Ethereum which
Contracts makes blockchain a
programmable distributed ledger
is used in our implemented
solution to create a PoD solution
for the digital media.
3. NFT 2022 In this report, we look at cutting- IJARSCT
Marketplace edge NFT solutions that could
Based on reshape the digital/virtual asset
Ethereum market in the future. We begin
Blockchain by analyzing the technical
components and then provide
design models and properties.
Then, we assess the security of
current NFTs systems and go
over the opportunities and
potential applications that use
the NFT concept. Finally, we
outline current research
challenges that must be
addressed before reaching mass-
market penetration.
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3. PRODUCT DESIGN AND IMPLEMENTATION
3.1 Block Diagram/ Architecture
• Hardware Requirements
A Device with Internet Connectivity
• Software Requirements
VS Code
Browser with Web3 Support
Meta mask
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3.2 Code
//SPDX-License-Identifier: Unlicense
pragma solidity ^0.8.0;
import "hardhat/console.sol";
import "@openzeppelin/contracts/utils/Counters.sol";
import "@openzeppelin/contracts/token/ERC721/extensions/ERC721URIStorage.sol";
import "@openzeppelin/contracts/token/ERC721/ERC721.sol";
contract NFTMarketplace is ERC721URIStorage {
using Counters for Counters.Counter;
//_tokenIds variable has the most recent minted tokenId
Counters.Counter private _tokenIds;
//Keeps track of the number of items sold on the marketplace
Counters.Counter private _itemsSold;
//owner is the contract address that created the smart contract
address payable owner;
//The fee charged by the marketplace to be allowed to list an NFT
uint256 listPrice = 0.01 ether;
//The structure to store info about a listed token
struct ListedToken {
uint256 tokenId;
address payable owner;
address payable seller;
uint256 price;
bool currentlyListed;
}
//the event emitted when a token is successfully listed
event TokenListedSuccess (
uint256 indexed tokenId,
address owner,
address seller,
uint256 price,
bool currentlyListed
);
//This mapping maps tokenId to token info and is helpful when retrieving details about a tokenId
mapping(uint256 => ListedToken) private idToListedToken;
constructor() ERC721("NFTMarketplace", "NFTM") {
owner = payable(msg.sender);
}
function updateListPrice(uint256 _listPrice) public payable {
require(owner == msg.sender, "Only owner can update listing price");
listPrice = _listPrice;
}
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function getListPrice() public view returns (uint256) {
return listPrice;
}
function getLatestIdToListedToken() public view returns (ListedToken memory) {
uint256 currentTokenId = _tokenIds.current();
return idToListedToken[currentTokenId];
}
function getListedTokenForId(uint256 tokenId) public view returns (ListedToken memory) {
return idToListedToken[tokenId];
}
function getCurrentToken() public view returns (uint256) {
return _tokenIds.current();
}
//The first time a token is created, it is listed here
function createToken(string memory tokenURI, uint256 price) public payable returns (uint) {
//Increment the tokenId counter, which is keeping track of the number of minted NFTs
_tokenIds.increment();
uint256 newTokenId = _tokenIds.current();
//Mint the NFT with tokenId newTokenId to the address who called createToken
_safeMint(msg.sender, newTokenId);
//Map the tokenId to the tokenURI (which is an IPFS URL with the NFT metadata)
_setTokenURI(newTokenId, tokenURI);
//Helper function to update Global variables and emit an event
createListedToken(newTokenId, price);
return newTokenId;
}
function createListedToken(uint256 tokenId, uint256 price) private {
//Make sure the sender sent enough ETH to pay for listing
require(msg.value == listPrice, "Hopefully sending the correct price");
//Just sanity check
require(price > 0, "Make sure the price isn't negative");
//Update the mapping of tokenId's to Token details, useful for retrieval functions
idToListedToken[tokenId] = ListedToken(
tokenId,
payable(address(this)),
payable(msg.sender),
price,
true
);
_transfer(msg.sender, address(this), tokenId);
//Emit the event for successful transfer. The frontend parses this message and updates the end user
emit TokenListedSuccess(
tokenId,
address(this),
msg.sender,
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price,
true
);
}
//This will return all the NFTs currently listed to be sold on the marketplace
function getAllNFTs() public view returns (ListedToken[] memory) {
uint nftCount = _tokenIds.current();
ListedToken[] memory tokens = new ListedToken[](nftCount);
uint currentIndex = 0;
uint currentId;
//at the moment currentlyListed is true for all, if it becomes false in the future we will
for(uint i=0;i<nftCount;i++)
{
currentId = i + 1;
ListedToken storage currentItem = idToListedToken[currentId];
tokens[currentIndex] = currentItem;
currentIndex += 1;
}
//the array 'tokens' has the list of all NFTs in the marketplace
return tokens;
}
//Returns all the NFTs that the current user is owner or seller in
function getMyNFTs() public view returns (ListedToken[] memory) {
uint totalItemCount = _tokenIds.current();
uint itemCount = 0;
uint currentIndex = 0;
uint currentId;
for(uint i=0; i < totalItemCount; i++)
{
if(idToListedToken[i+1].owner == msg.sender || idToListedToken[i+1].seller == msg.sender){
itemCount += 1;
}
}
ListedToken[] memory items = new ListedToken[](itemCount);
for(uint i=0; i < totalItemCount; i++) {
if(idToListedToken[i+1].owner == msg.sender || idToListedToken[i+1].seller == msg.sender) {
currentId = i+1;
ListedToken storage currentItem = idToListedToken[currentId];
items[currentIndex] = currentItem;
currentIndex += 1;
}
}
return items;
}
function executeSale(uint256 tokenId) public payable {
uint price = idToListedToken[tokenId].price;
address seller = idToListedToken[tokenId].seller;
require(msg.value == price, "Please submit the asking price in order to complete the purchase");
//update the details of the token
idToListedToken[tokenId].currentlyListed = true;
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idToListedToken[tokenId].seller = payable(msg.sender);
_itemsSold.increment();
//Actually transfer the token to the new owner
_transfer(address(this), msg.sender, tokenId);
//approve the marketplace to sell NFTs on your behalf
approve(address(this), tokenId);
//Transfer the listing fee to the marketplace creator
payable(owner).transfer(listPrice);
//Transfer the proceeds from the sale to the seller of the NFT
payable(seller).transfer(msg.value);
}
}
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4. RESULTS
4.1 Results
The implementation of a gaming NFT marketplace has resulted in
numerous benefits for the gaming industry. Firstly, it has provided a new
and exciting way for gamers to interact with their favorite games, by
allowing them to buy, sell and trade unique and valuable NFTs related to
the game. This has added a new dimension to the gaming experience,
making it more engaging and rewarding.
Secondly, the gaming NFT marketplace has created a new revenue stream
for game developers and publishers, by allowing them to monetize in-game
items and experiences through the creation and sale of NFTs. This has
provided developers with a new way to generate revenue, which can be
used to fund future game development and improvements.
Thirdly, the use of NFTs in gaming has created a new ecosystem of digital
collectibles and assets, which can be traded and sold in a secure and
transparent manner. This has created a new market for digital art, game
assets, and other virtual goods, which was not possible before the advent of
NFTs.
Overall, the implementation of a gaming NFT marketplace has had a
positive impact on the gaming industry, providing gamers with a new and
exciting way to interact with their favorite games, while also creating new
revenue streams for developers and publishers, and a new ecosystem of
digital assets and collectibles.
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4.2 Project Snaps
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5. CONCLUSIONS
In conclusion, non-fungible tokens (NFTs) have emerged as a powerful new
tool for creating, buying, selling, and trading unique digital assets. With their
ability to prove ownership and authenticity, NFTs are opening up new
opportunities in various industries, including art, music, and gaming. NFT
marketplaces are becoming increasingly popular as more people recognize the
potential of this technology. These marketplaces provide a secure and
transparent environment for transactions, making it easier for creators to sell
their work and for buyers to find unique and valuable digital assets. As the NFT
marketplace continues to evolve, we can expect to see more innovation and
experimentation with this exciting new technology. Dealing with things like
payments, commissions, and transfers of ownership on the contract level as well
as how a client-side application would use this smart contract to build a
performant and nice-looking user interface. We believe this is a good project
because the tools, techniques, and ideas we will be working with lay the
foundation for many other types of applications on this stack.
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6. FUTURE SCOPE
According to a 2020 year-end report by NonFungible.com, the total market
capitalization of the NFT sector was close to $210 million in 2019. The
report suggested that in 2020, the market cap could touch $315 and by
2021, it could surpass $700 million.
In-game NFT trades are on the rise. Because of this many popular games
like Axie Infinity introduced an in-game marketplace and these turned out
to be successful. In fact, Axie Marketplace sells more than 50,000 Axie
NFTs per day in comparison to OpenSea, the leading NFT marketplace.
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REFERENCES
• Kaal, Wulf A. "Digital asset market evolution." J. Corp. L. 46 (2020): 909.
• Hasan, Haya R., and Khaled Salah. "Proof of delivery of digital assets using
blockchain and smart contracts." IEEE Access 6 (2018): 65439-65448.
• Pawelzik, Leon, and Ferdinand Thies. "Selling digital art for millions-a
qualitative analysis of NFT art marketplaces." ECIS 2022 Research Papers
(2022).
• Osivand, Sina. "The Risk and Return of Game (NFT)." International Journal of
Research in Engineering and Science (IJRES) 10, no. 1 (2022): 38-40.
• W. Cai, Z. Wang, J. B. Ernst, Z. Hong, C. Feng and V. C. M. Leung,
"Decentralized Applications: The BlockchainEmpowered Software System,"
IEEE Access, Vols. 53019 - 53033, no. 6, 2018.
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