The problem Decentralized Crowdfunding Platform with NFT's solves

📌 Transparency and accountability
By leveraging blockchain technology, a decentralized crowdfunding platform can offer transparent and secure fund allocation. All transactions are recorded on a decentralized ledger, which can be accessed and verified by anyone. Smart contracts can automate the fund allocation process, ensuring that funds are released only when specific conditions are met, providing transparency and accountability to the crowdfunding process.

📌 Lower transaction fees
Decentralized crowdfunding platforms can eliminate intermediaries, resulting in lower transaction fees for project creators and backers. This makes it more cost-effective for both parties to participate in the crowdfunding process.

📌 Wider reach
Decentralization allows for a wider reach, enabling backers from any part of the world to participate in the campaigns. This can result in increased exposure and funding for projects, which can lead to faster growth and development.

📌 Security
Blockchain technology provides a secure mechanism for fund allocation, eliminating the need for intermediaries and reducing the risk of fraud and security breaches. Decentralization also means that there is no single point of failure, making the platform more resilient to attacks.

Additional Feature
📌 Reputation system
A reputation system can be implemented to encourage collaboration and ensure that project creators have access to valuable feedback from the community. Backers who provide accurate and helpful feedback can be rewarded with tokens, which can be used to purchase goods and services within the project ecosystem.

Challenges we ran into

i)web3.js not working with React JS
ii) React Hook useXXX is called conditionally. React Hooks must be called in the exact same order in every component render
iii) React Hook has a missing dependency: ‘XXX’. Either include it or remove the dependency array
iv) MetaMask Auth Error