Week Ending 08/08/2021
Hey LUXY community!
Last week we deployed LUXY NFT Smart Contracts on the Mumbai Testnet! Since then, we have been integrating the new test contracts with the marketplace application and testing the royalties model.
Development over the last week:
- We started testing the backend that will handle the order book and the sale events.
- We implemented the option to list an NFT for a fixed price on the creation process.
- We advanced on the development of making offers and bids on an NFT.
- The Smart Contract team is testing different approaches for managing royalties. We will be looking for a trustless option and will have more updates in regards to this soon.
- The frontend team is working on the homepage section, where projects and partners can shill their NFTs and collections.
Viewing NFTs
Another essential feature of the marketplace is providing visibility to the information, history, and metadata of an NFT. What we call metadata is the information that contains the name, properties, link to the file, and other information defined by the creator.
To get all this data, you need to have the Smart Contract Address and the NFT ID. With those two identifiers, you can track everything regarding an NFT.
But accessing this information is not simple for everyone and that’s where the marketplaces have been impacting the usability of this new and growing technology. It allows users to access a friendly interface, and interact with the blockchains without knowing how to code.
Therefore, a good marketplace is also a good NFT Viewer. There is a lot of information composing the rarity, desirability, and history of an NFT, and the display that everyone can access is the marketplaces.
On Luxy we are building the Asset page to display all that we consider essential. We aim to include which kind of NFT standard is used, all the metadata, royalties, name, description, and more.
Another interesting piece of information contained on the asset page is the activity history. It allows tracing fluctuations in estimated value and asset provenance. These are great contributions of blockchains to the way we trade goods: transparency and instant price discovery. Though in many cases it is composed of a series of anonymous accounts, we can still gather many insights from it.
Until next week…
💗 Team LUXY
~ Connect with LUXY ~
Send your project here: https://luxy.io/
Twitter: https://twitter.com/Luxy_io
Telegram: https://t.me/luxyio
Instagram: https://www.instagram.com/luxy_nft/
Medium: https://medium.com/@luxy.io
Discord: https://discord.gg/UqRPfhsBKF
