Results of Powering Possibility Hackathon

We have a piece of great news! The 482.solutions team became one of the winners of the Powering Possibility Hackathon.

We managed to create an amazing project:

Market of digital arts in SYMBOL wallet

NFTs have been the source of whispers across the globe over the past few months and are a strong contender to be the main trend in the 2021 crypto world.

The relatively short history of the crypto world has been characterized by waves of trends: the 2017 ICO boom, 2017–18 smart contract platform era, 2018–19 stablecoin era, and 2020 DeFi craze. Although DeFi has been the focus for most of 2020, NFTs have steadily been gaining traction in recent months.

Put differently, this solution opens up the primary and secondary market for digital art creators in the Symbol ecosystem, allows them to monetize their artwork, and also creates a marketplace at the protocol level.

The extension utilizes such features as Symbol’s inherent interoperability by integration with public IPFS ledger, tokenization, using namespaces, subnamespaces and mosaics, metadata, normal transactions and multiparty aggregated transitions for trustless decentralised trading without smart contracts and fee distribution.

Also, the solution has significant potential for further scaling and successful commercialization.

This implementation works like PoC, it could be a good idea for creating an MVP version of the product.

How we are built it

We created an API with PostgreSQL DB for marketplace;
We used native SYMBOL platform functions like mosaic for NFT implementation;
We used native design abilities of software to get a nice consistent look;
We used IPFS for storing digital arts.

And congratulations to the rest of the finalists and participants.

ABOUT Powering Possibility Hackathon

This hackathon offers a variety of prizes ranging from a possible coveted spot in the Ignite from NEM Ventures incubator program. With hands-on mentorship, commercialization guidance and financial support of up to $10,000 to $22,000 of dollars worth of XEM for the selected projects!

ABOUT Symbol

Symbol is an open-source blockchain platform from NEM. Symbol from NEM brings cutting-edge technical features which can be leveraged by innovative projects building the new economy. That ultimately improves trust, transparency and efficiency for individuals, organisations and society as a whole.

As we wrote earlier, 482.solutions is an Associate SI Partner at Symbol.

The Symbol SI Partner Program is designed to expand the ecosystem of Symbol professionals and to support the uptake of Symbol blockchain with Enterprise customers around the world.