Marketplace Using NFTs to Physical and Digital Artwork.
Main information
USA
RegionWeb3
Type6 people
TeamCrypto / NFT
Industry2021
DurationTechnology we used
NextJs
Solidity
Web3
MongoDB
Project overview
Rare.market is a marketplace/auction house, that uses Non Fungible Tokens (NFTs) to track and validate the authenticity of physical and digital artwork. Physical works of art are bundled together with an NFT of the same piece and sold simultaneously, to the same buyer.
Challenges
As a user, it was difficult to navigate the Web3 space in early 2020. Also, even though NFTs had become very popular, the pricing structure was arbitrary and haphazard.
Team
Architect, Product Manager, Visual Design, UX, Frontend Development, Blockchain Engineer
Solution
By coupling Physical pieces of art together with NFT, establishing pricing and value became more rational and understandable to consumers.
Outcome
Rare.Market successfully launched and sells art and NFTs bundled together.