Hybrid Approach: The marketplace offers a choice between a centralized or decentralized approach to transactions, depending on user preferences. Users can opt for the traditional central authority-managed approach or use smart contracts for secure and transparent transactions.
Signup/Signin Method: Users can sign up or sign in using multiple methods, including connecting a wallet, Google signin/signup, and mail signin/signup.
Wallet: If a user chooses to connect a wallet, the marketplace generates a unique wallet address for them. This wallet address can be used to deposit funds and purchase items on the platform using cryptocurrency or even fiat currency.
Decentralized Smart Contracts: The marketplace is based on decentralized smart contracts, which can ensure transparency and security in transactions. Smart contracts are self-executing and enforceable contracts that are stored on a blockchain network. They allow for the creation of trustless transactions, where parties do not need to rely on a central authority to ensure that the terms of the contract are met.
Centralized Database and Hot Wallet: In addition to the decentralized smart contract-based approach, the marketplace also has a central database and hot wallet-based approach. This can provide additional convenience and ease of use for users who prefer a more traditional approach to online marketplaces.
NFT Renting/Rentout Feature: The marketplace offers a feature for renting out and renting NFTs. NFTs are unique digital assets that can represent anything from artwork to music to virtual real estate. With the marketplace's renting/rentout feature, NFT owners can rent out their assets for a specific period of time and set a rental price. Users who rent the NFTs will pay the rental fee and can use the asset during the rental period. The NFT owner can earn rewards during the rental period, and the owner reward ratio can be set by the owner.
Scalability: The marketplace is designed to be easily scalable and can integrate with third-party games or projects that want to use the renting/rentout feature. This can make the platform more accessible and appealing to a wider range of users.