NFT Collectibles ERC-1155 Application Workflow

In this scenario, non-fungible tokens (NFTs) represent works of art for sale in a marketplace.

The NFT collectibles scenario supports minting, selling, and reselling artworks represented by NFTs. Curators mint NFTs and list them for sale. The ERC-1155 version of this scenario adds support for fractional ownership, royalty distribution, and token burning. Multiple token IDs and quantities can be managed by a single contract, which enables batch minting and burning operations.

Actor Role Description
Administrator Token Admin Initializes the system,creates accounts, assigns the minter role.
Curator Minter Mints artwork NFTs and posts them for sale.
Consumer none Buys and sells artwork NFTs by using ETH coins. Consumers can burn their NFTs to redeem them or remove them from circulation.
The administrator completes the following steps to initialize the system.
  1. Register organizations by using the registerOrg API.
  2. Create accounts by using the createAccount API.
  3. Assign the minter role to the curator by using the addRole API.
After the system is initialized, a typical process flow follows these basic steps.
  1. Mint an NFT and list it for sale.
    1. Curators use the mintBatch API to mint art collection NFTs.
    2. Curators use the post API to set the price for an NFT and post it for sale in the marketplace.
  2. Purchase and resell NFTs.
    1. Buyers and sellers use the createTokenAccount API to create consumer accounts for fungible and non-fungible tokens on the platform.
    2. Buyers use the buyWithEthCoin API to buy the NFT with Ethereum. The purchased NFT is transferred to the buyer's account and is no longer for sale.
    3. Optionally, buyers can use the post API to set a new price for an NFT and post it for resale in the marketplace.
  3. Burn NFTs.
    • Consumers can use the burnBatch API to redeem the NFT or permanently remove it from circulation.
  4. Verify token balance.
    • Users can use the getAccount API to get their account details, including their NFT holdings.