How to create and deploy a smart contract on the Ethereum platform?

Non-fungible tokens (NFTs) today have become one of the largest and most discussed applications that have occupied the public space along with cryptocurrencies. Analysts evaluate NFT differently. Some experts classify the technology as analogues of “mining”, someone – as outright charlatanism, following the example of a banal financial pyramid, where the main goal of the system is to monetize the process by attracting a large number of users. However, the exponential growth of NFT assets is at the very least worth considering the technology in general terms to take advantage of personal business needs. So, let’s talk about White Label NFT marketplace and its features.

Not only is the trade volume increasing, but also the potential growth of non-fungible tokens as a system of personalization and property identification. Objectively, NFT claims to be a new value system in the field of private property, which is presented on the Internet in various formats: video, audio, images, games, books, design layouts and much more.

What does NFT mean?

In short, the Non-Fungible Token does not name the digital asset itself, it is a simple way of uniqueness and belonging to the named owner. Thanks to the latest technology, the established affiliation cannot be falsified or subjected to any doubts.

The blockchain database, for example, Ethereum will contain data on the purchase, sale of a digital asset. At the same time, a digital token (NFT) becomes a unit for measuring the value of a product. In turn, platforms for the sale and purchase of tokens form a unique ecosystem where the NFT token will be freely available.

Creating and Deploying a Smart Contract

To design a smart contract, it is important to determine the essence of a service or item. For example, when selling online tickets for travel or cultural events, there is always the possibility of resale. At the same time, blockchain technology allows you to: track information about resales, establish uniqueness and fix a stable price for an item without the possibility of speculation.

Each travel document can be transformed into a unique token format, and thereby limit the possibility of forgery. Also, using a digital code, the owner can set a fixed percentage of resale, which in turn will limit the opportunities for speculators. In this case, NFT token development company can help.

Stage 1. Connection to the ETHEREUM platform

The consumer has a wide choice of platforms, among which the most famous is Ethereum. Using an account on Alchemy, you can register on the platform and activate the necessary tools for writing a smart contract. The only conditional drawback of Ethereum is the author’s Solidity programming language, which will take time to learn. But the vast user base, quality community, and support make up for the lack of versatility of the syntax tool.

Step 2: Design the application

After activating Alchemy, the user can activate the API key and create his own application. As a step-by-step guide, apply a few simple steps:

• In the Alchemy user interface, select the “create application” tab and after hovering over, click on the button.
• In the process of activating the application, the system will prompt you to name the application, write a short description and select the environment for use (you need to select “Staging” as the environment)
• After filling in the proposed forms, click OK.

Stage 3. Account on the Ethereum platform

To make payment transactions, you need an account on the Ethereum platform. The MetaMask service allows you to create a virtual wallet in a browser and link the module to a digital platform. Please note that when activating and testing the payment service, you will need to check the test mode box in order not to use real money in the beta version format.

When developing the first Ethereum contract, it is desirable to use the remix.ethereum.org application software environment. A convenient contract deployment service allows you to switch between accounts and activate platform features.