December 07, 2021 – by Tha’ Doge Pound • Guide

SugarFactory#NFT ERC-721 Collectibles Marketplace

SugarFactory#NFT is a marketplace for standard ERC-721 token with buy, sell and auction features.

How works a ERC-721 Smart Contract?

First, let’s break down the term. ERC stands for “Ethereum request for comment,” and the ERC20 standard was implemented in 2015. Smart contracts can then be used to create smart property or tokenized assets that people can invest in.

ERC-721 is a standard for non-fungible tokens (NFT) or deeds. NFTs are useful to represent digital or physical assets that cannot be divided, for example:

  • Properties (houses, art pieces)
  • Virtual collectibles (virtual pets, cards)
  • “Negative value” assets (loans, burdens, and other responsibilities)

The NFT market has reached incredible levels of monetization in different areas including arts, music, memes, tweets and all kinds of NFT. We will give our creators the possibility to create their fully-featured ERC-721 tokens exclusively on our platform.

A decentralized and unstoppable NFT marketplace

Features

(fully compatible with the ERC-721 Standard)

Formats

(image, video, audio, document)

Ownership

Only one account can own one certain NFT at a time.

Transfer

Your token can be transferred directly.

Approval

Your token can be transferred with approval.

Mint

For the Beta version, only featured artists and creators can mint new NFTs.

Sell

Owners can sell their NFTs and any user can buy them.

Auction

Owners can auction their NTFs by setting a minimum reserve amount, and any user can auction them.

Royalty

Creator Royalties to empower our creators by distributing commissions on every sale.

Image

A unique file like piece of art, picture, profile, etc.

  • .png
  • .jpg
  • .gif

Video

A recording, animation, short movie, etc.

  • i.e.
  • .mp4
  • .ogv
Audio

A song, podcast, effects, etc.

  • i.e.
  • .mp3
  • .ogg
Document

Text, property, license.

  • loan
  • debt
  • any other document
Our Marketplace give Royalty commissions for NFT creators to empower their creations on every sale. Allowing creators to be rewarded for their work with royalties paid every time they move NFTs for resales is one of our primary goal.

IPFS Support

IPFS Powers the Distributed Web

Our creators assets will be stored on the InterPlanetary System (IPFS) decentralized network. IPFS is a protocol and a peer-to-peer network for storing and sharing data on a distributed file system.  Which means that all artists media will be stored in a decentralized and unstoppable system with a unique identifier.

Implementation

The ERC-721 standard will be based on OpenZeppelin implementation. These contracts are licensed under MIT License.

MeetMySygar, a Community Driven Non Fungible Token Collection!

Reminder about SugarFactory#NFT

  1. A standard ERC-721Standard:
    NFT based on OpenZeppelin implementation.
  2. A container of NFT items:
    Each minted NFT item is stored inside our NFT Collection.
  3. A Marketplace:
    Collectors can sell or auction their NFT Items.
  4. Metadata:
    The token smart contract is identified by a symbol and a name.
  5. Token URI:
    Each minted NFT has a single tokenURI, which is a URL that stores the media and all the attributes of its unique NFT.
  6. Enumerable:
    The smart contract counts and lists valid NFTs assigned to an owner.