Quoth
Consulting for a Cross-Chain NFT Search Engine Project
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About the client
Our client is a leading figure in the financial services and crypto DeFi community and one of the main contributors to the Enigma blockchain, later transformed into the Secret Network.
The client has an exceptional background in futures trading, blockchain and business consulting. As part of the Enigma project, they used to consult businesses during their transition to blockchain technology and was one of the key players in the conceptualization of the Enigma platform and its features.
Business opportunity
Non-fungible tokens have been a hot topic in the crypto space and the number of NFTs has been growing exponentially. Yet, in spite of their lucrativeness, NFTs have to deal with several challenges, including violated copyright, misquoting, confused authorship, and fake news.
Currently, there is no decent solution that would tackle the burning issue of NFT provenance. The present-day protocols don’t possess the required functionality, therefore it is next to impossible to authenticate the originality of NFTs.
Client’s goals
Considering the aforementioned challenges, the client was set to design a decentralized application that would help authenticate the originality of visual, verbal, and audio content.
Another idea was to provide users with an opportunity to easily create their own NFTs on the platform and effortlessly share them on social media.
In short, the client required the platform that would:
- Ensure copyright protection of videos, images, and songs
- Implement fact-checking for news, media, and research
- Provide a reference for bibliography sources (research papers and essays)
- Protect authorship and copyrighted materials
- Enable social media sharing of quotes from influential people
Work done
- Blockchain architecture ideation
- Development of advanced tokenomics and monetization mechanisms
- Elaboration of user flow, AI tools, and NFT token design
- All-encompassing vision and scope document
- Consulting on the most appropriate tech stack
Details
Discovery phase
First off, our experts analyzed the client’s requirements and ideas to identify which direction should be taken. We fleshed out the project’s purpose, value proposition as well as the client’s expectations. Thanks to these steps, we managed to:
- Elaborate the platform’s functionality
- Determine the core system elements
- Identify user processes and flows
Recommendations on MVP development
Together with the client, we carried out exhaustive market research and identified which features should be included in the initial release (MVP).
NFTs minting
The ability to mint NFTs is the platform’s key feature and we wanted to streamline the process of creating NFTs, making it as easy as possible for users. We prepared mockups and user flow descriptions to create a UX that would be friendly even for crypto newbies.
NFT token design
Our team proposed to enable minting tokens on Binance Smart Chain, Fantom, and Ethereum blockchains to provide the best exposure and usability.
We also included specific smart contract features to refine the token’s design. The contract on the Binance network includes the capacity to enable liquidation of the token when its counterpart is released on the Ethereum side.
We outlined the design for tokens to be easily transferred between the two blockchains. Both the ERC-721 and BEP-721 token standards were used in the design.
Customized quote design for NFTs
To empower users to personalize their quotes, our team proposed a customization feature. Users would choose from a collection of backgrounds and fonts to stylize their quote and make it visually appealing.
For other content, such as video and audio, original artwork is to be used and upisLoaded as NFT cover art.
Authenticity checks for quotes and fees
According to our design, NFTs would be minted after they passed comprehensive research. Automated checks for duplicity and plagiarism were meant to be combined with independent research and validation by the community of users.
Anti-plagiarism tools compare billions of documents to find duplicate text in assignments, papers, websites, archives, social media posts, and other content.
We proposed that minting fees be charged before the process of checking a quote by automated anti-plagiarism systems. This would be one of the main channels for the platform’s monetization.
AI tools for validating content
AI’s self-learning algorithms were to be developed, constantly improving their detection ranges.
The AI would index all existing NFTs and transcribe all information not only from texts within NFTs, but also from images, videos, and sounds.
Quoth AI would tag NFTs, creating “islands of meaning”, grouping the content presented in NFTs into semantic clusters.
Originality reports
The NFT creator would receive originality reports generated by AI and anti-plagiarism tools. We proposed the following process to provide users with valid reports:
- If the difference between the results of two automated check systems is less than 20% → The user gets the report results with a lower percentage of originality.
- If the difference between the results of two automated check systems is 20% and more → The results are given to be verified by the community through voting.
The final report is also attached to the NFT, publically available for everyone using the platform.
NFT collection
We outlined a user-friendly interface for quote creators to interact with their NFTs. It allowed the user to see all their created NFTs, check their originality status, mint the NFT after its approval, and share it in the gallery or on social media.
NFT gallery
The gallery was designed by us to showcase the created quote NFTs and provide the possible use cases of purchasing, selling, and trading.
Monetization strategies
To help our client extract maximum value from the platform, we’ve also foreseen the implementation of the following monetization strategies:
Research fee
Charged for originality and authenticity checksMinting fee
Charged for generating tokens on the blockchainCustodial wallet fee
Charged from users who prefer to register with an email address and use the platform’s built-in walletReminting fee
Charged for transferring NFTs between blockchains and updating existing NFTsGallery fee
Charged for showcasing the NFTs in the galleryInfringement check fee
Charged for updating the NFT’s originality report to see if it had been used or copied after it was created on the platform
Proposed architecture and tech stack
We suggested going with a microservice architecture with the following main modules dedicated to supporting features and functionality:
Data Validator
The module is responsible for processing data validation requests. Designed with a modular approach allowing to add new providers in the future. Supports both automated providers and manual data processing.
Data Publisher
The module provides the functionality for sending data to the blockchain and IPFS network.
Payment Processor
The module is responsible for accepting payments. Built with a modular approach for the ability to integrate additional payment providers, including payment in cryptocurrencies.
API Service
An interlayer responsible for the interaction between the user interface and back-end system components. It also enables data exchange through REST API.
Data storage and transfers
For data storage and transfers we’ve suggested using:
- PostgreSQL as a database management system
- RabbitMQ as a message broker between services
Third-party tools
The following third-party tools were suggested to support key features:
- AI-powered content validators and anti-plagiarism tools
- IPFS network accessed via nft.storage and pinata.cloud
- Infura or direct connection via RPC to access the blockchain network
The system did not involve any complex processing or computational tasks. With this in mind, we recommended the system to be implemented using the Node.js server and built on top of the Nest.js framework.
Recommendations on blockchain implementation
The client wanted to take advantage of the security and decentralization of modern blockchain networks to create an advanced application. Non-fungible tokens (NFTs) were seen as the perfect tool for authenticating and sharing video, audio, images, and quotes.
We advised using Binance Smart Chain (BSC) for the blockchain platform as it offers distinct advantages:
- BSC provides the highest liquidity on the market for NFT tokens
- Binance fees on transactions are much lower than those on Ethereum
- The platform’s architecture enables high transaction speeds
User flow and processes
After careful consideration and assessment, our team introduced the following user flow to accomplish key project goals:
1
The NFT creator submits the content of the quote and pays the research fee
2
The system checks for NFT duplicates already created on all NFT capable blockchains
3
If the quote has not been yet created, the user pays a minting fee
4
Before being minted, the quote goes through a verification stage and is checked by AI tools and automated plagiarism systems
5
If the plagiarism reports reveal mixed results, the quote goes through an additional approval process by the decentralized community
6
After the research stage is complete, the NFT is minted and the final report is published alongside for the users to view
7
The NFT quote is added to the user’s collection and they can choose to publish it on social media, showcase it in the gallery, or trade it for other NFTs
Results
PixelPlex performed a detailed analysis of the customer’s goals and requirements to determine the core system elements and implementation strategies.
Our team elaborated the platform’s MVP functionality, user flows, and processes while offering recommendations on optimal monetization mechanisms, project architecture, and tech stack.
As a result of our collaboration, the client received comprehensive research and a detailed vision and scope document, which can be further used to start the project smoothly.
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