NFT Collectibles ERC-721 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. Consumers purchase NFTs by direct payment, after which ownership is transferred. NFTs can be relisted for resale. Users can check their account balance to verify their NFT holdings.

The following table summarizes the actors in this scenario.
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 the payment gateway. 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 for curators and consumers (buyers and sellers) 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 createArtCollectionToken API to mint an art collection NFT.
    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 use the buy API to buy the NFT by using direct payment via a payment gateway. The purchased NFT is transferred to the buyer's account and is no longer for sale.
    2. Optionally, buyers can use the post API to set a new price for an NFT and post it for resale in the marketplace.
  3. Verify token balance.
    • Users can use the balanceOf API to get the total number of NFTs they hold.