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Cryptolore

A Blockchain-based platform to trade NFTs of literary works

The problem Cryptolore solves

Digital writers these days have to rely on centralized digital services to publish and showcase their work. By doing so, a significant portion of their revenue is lost to such platforms. The content ownership rights does not fully rest with the original writer and they have feeble control over their work. Cryptolore mitigates these problems by providing a decentralized platform to mint Non-Fungible Tokens or NFTs out of these literary works. These literary works can now be sold and purchased in the form of crypto-collectible assets, using cryptocurrency.

A user can post their literary work, which includes poems, short stories, essays etc on the platform and mention the price(in MATIC) that they are expecting from the sale. These works can then be viewed by collectors and they can purchase these NFTs. The ownership of these NFTs are cryptographically verifiable on the blockchain and these records are also non-tamperable. The amount pertaining to the purchase is paid in MATIC to the writer/creator. This significantly boosts their revenue due to the uniqueness or rare factor of NFTs and also the absence of third-parties in these transactions.

It is also assured that the NFT is valid, since forging a decentralized and permanent record is impossible. These NFT literary are indestructible as they are managed and operated using Blockchain which increases the level of security for them. This determines that these NFTs cannot be removed or destroyed, at all. They are also easily transferable, but only upon approval by its owner.

The DApp is deployable on the Polygon Mumbai Testnet, thereby providing faster transaction speeds and low gas fees.

Challenges we ran into

Due to lack of time, we couldn't implement all the functionalities which we had initially planned to but we were able to build a prototype which can effectively demonstrate the project idea we had in mind. We had some difficulty in using the Metamask wallet while testing the DApp but were able to use it without much hassles later on. The front-end also had to done minimally so as to save time while building the project.

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