The problem 🚀🔥💰MetaEstate🥇😎🚀 solves

Problem Statement

MetaEstate is like AMAZON for metaverse companies. MetaEstate is an aggregator which handles real estate transactions of metaverse properties. In next 5 years, 100s of companies will make their own metaverses. Each company needs to have its properties in metaverse get sold at higher price and as quick as possible. Then, they have to make inhouse tool for property marketting and transactions. Also, inhouse tool wont have any great traction. MetaEstate Marketplace solves all this problems faced by metaverse companies.

Each property is unique and so that considered as NFT. Each property has unique identity, and some properties like metaverse it belongs to, title, location, coordinates, image etc.

Solution

1. Initially, any metaverse company after completing their property map and fixing price, will list their unique property as NFT on our marketplace using their seller accounts

2)The NFT is created using nft.storage facility provided by Filecoin. Now, these NFTs are listed on marketplace along with NFTs from other companies.

3. Now, buyers will visit and can either direct Buy complete property or can take loan and pay via EMI.

4. Here, our USP is, we are allowing risk free investors to invest in this mortgage transaction and get a fixed return.

4)E.g. A wants to sell property for 100 ETH. B takes loan by paying downpayment of 30 ETH and rest 70 ETH as loan. Now, multiple risk free investors invest to make a total sum of 70 ETH. Now, we as trading company make this transaction valid by adding liquidity by providing 70ETH to contract.
Contract Balance = 30+70+70 = 170 ETH

5)Now, seller exits by taking 70 ETH from contract and its nft gets transferred to trading company which is us. Now, buyer will pay emi to contract along with interest.

6)Here, some amount distributed to risk free investors and rest to trading company.

7)After last EMI, buyer gets his NFT from contract and becomes owner.

8)We have also provided auction facility to

Challenges we ran into

We integrated various tech stack like Polygon, Filecoin, Covalent etc.

1. We deployed our Defi dapp on Polygon Mumbai testnet.
2. Then, we used nft.storage from filecoin to make metaverse property NFTs.
3. We used Covalent NFT API for querying NFT data.

Challenges we faced were:

1. Deciding edge cases and smart contract was very challenging.
2. We had to consider multiple scenarios and make contract accordingly.
3. While integrated frontend with solidity, we faced lots of errors.