Transforming diamonds into tradable digital assets

The client is an innovative platform that tokenizes diamonds, transforming these precious gems into digital assets through NFTs. They offer a secure and transparent marketplace where users can confidently buy, sell, and own real diamonds. This seamless integration of blockchain technology enables greater accessibility and ensures authenticity, allowing diamonds to be traded globally with ease.

The secondary diamond market presents several challenges, such as limited accessibility, lack of transparency, and difficulty in validating authenticity. The client aimed to create a global platform where diamond trading is clear, simple, and accessible to everyone. Having previously worked on several successful NFT marketplaces, Ekotek was chosen for our expertise in blockchain-based marketplaces. The client required us to develop custom features tailored specifically to their diamond trading marketplace, ensuring the unique characteristics of diamond ownership were maintained in the digital world.

Ekotek customized the marketplace interface to align with the client’s diamond-focused platform, ensuring both functionality and user-friendliness. Diamonds are tokenized into NFTs on the NFTify platform, with each NFT acting as a digital certificate of ownership, preserving the unique attributes of each diamond. We also optimized the search feature within the client’s store, making it easier for users to explore and discover diamond products seamlessly. Beside 5 basic functions, some key features include:

• Create NFT: Customizable attributes, allowing users to input specific properties such as speed, level, or boosts
• Upload NFT metadata template: Store owners upload metadata templates in JSON format, enabling quick and consistent NFT creation with predefined attributes for diamonds.
• Lock/Unlock NFT: Specific wallet addresses can lock or unlock NFTs, restricting or allowing transfers.
• Update NFT metadata: An API to update specific token details and attributes, ensuring accurate representation of the diamond’s value over time.
• List NFT for sale: Multiple selling methods, including instant sale and timed auction

Ekotek successfully delivered a fully functional and innovative marketplace for diamond trading, meeting all client requirements. The platform’s user-friendly design and powerful features streamlined the buying and selling of diamonds. The Lock/Unlock NFT feature stood out, allowing NFTs to be locked or unlocked based on specific events, offering additional utility and security. This functionality provided customers with both a digital ownership certificate and the ability to unlock their NFT to redeem the physical diamond from a secure vault or resell it.

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