Marketplace Development for E-Commerce - META Z

Project Objectives

The idea behind META Z was to revolutionize the sneaker resale market by building a blockchain-powered solution on Polygon that offers affordable, fast transactions and instant payouts with low gas fees. The platform needed to make it easier to trade while cutting down on transaction costs and getting rid of the physical processes that are usually involved in trading sneakers. The goal was to make it easier and cheaper for people to buy and sell sneakers online, providing them innovative automated services such as Custody and Redeem.

Functional Requirements

Wallet Connection

The platform shall support wallet integration with MetaMask, WalletConnect, and Coinbase, enabling users to seamlessly register, log in, and log out automatically. This function ensures users have secure and efficient access to the META Z ecosystem, with all interactions safeguarded by their chosen wallet, reducing the need for complex account setups.

NFT Minting and Exchange

META Z shall allow users to mint NFTs representing sneakers, collectibles, and artwork securely held in META Z's custody. Users shall also be able to exchange these NFTs within the platform, making it a versatile marketplace for various crypto assets. This functionality underpins META Z’s core service, providing a seamless transition from physical to digital ownership.

User Account Management

Users shall have the capability to personalize their profiles, including editing their nickname, avatar, and links to social profiles. The ability to follow other users, view profiles, and establish a verified statement of membership are significant features that foster community engagement and enhance user interaction.

User Activity Tracking and Notifications

The platform should provide a robust activity tracking system, where users can view their own and others' activities, subscriptions, and notifications. An indicator for new notifications shall be available, along with search, filter, and sort options for tokens, ensuring users can easily navigate the platform and stay updated on their interactions.

Bidding Feature for Art and Collectibles

Users shall have the ability to place bids on artworks and collectibles via a Dutch auction model. This exclusive feature for non-sneaker items adds value to the platform by creating a competitive marketplace and engaging users in diverse asset categories.

USDC Payments for Sneakers

METAZ shall support payments for sneaker NFTs solely with USDC on the ERC-1155 standard, providing a stable and efficient currency option within the Polygon network. By using USDC, META Z ensures users experience predictable, cost-effective transactions in a secure environment.

Token Data Management

Users shall have the capability to change token data, such as updating prices or listing tokens for sale or auction. This feature provides flexibility in asset management, empowering users to take control of their digital assets’ visibility and availability in the marketplace.

Token Interaction Features

A significant feature of META Z is the ability for users to interact with tokens by liking them, buying them, and transferring them freely. These options provide a dynamic trading and social engagement experience, allowing users to express preferences, acquire assets, and share them without fees.

Trending Tokens Display

The main page shall demonstrate trending tokens, showcasing popular and high-activity assets. This feature enhances user engagement by highlighting marketplace trends, encouraging exploration, and drawing attention to in-demand collectibles.

Admin and Maintenance User Role System

A user role system shall control access to specific functions, with administrators having CRUD rights (Create, Read, Update, Delete) and maintenance roles having CRU rights (Create, Read, Update). This structure is crucial for maintaining platform security and organized functionality, ensuring that only authorized users can perform sensitive operations.

Token and Collection Creation Pages (Admin Only)

Administrators shall have exclusive access to create tokens and collections, especially supporting the ERC-1155 standard for “multiple collectible” creation. These pages will include fields for setting prices, royalties, and supply, with an option to upload content and toggle unlockable content. This advanced functionality allows secure, customizable NFT creation, reinforcing METAZ’s commitment to offering professional-grade tools.

Network and Currency Support

The platform shall support Polygon as its primary network, utilizing POL (ex MATIC) for network fees and USDC as the main payment currency. This configuration ensures low-cost, fast transactions, making META Z an attractive choice for users seeking affordable and efficient blockchain transactions.

Redeem & Custody Function

The redeem & custody function allows users to seamlessly exchange their NFTs for physical items and vice versa, enabling the digital representation of RWA in a secure, verifiable manner. This feature is critical to METAZ’s value, offering users flexibility in managing and redeeming their assets.

• NFT to Physical Item Redemption: Users holding an NFT can apply to exchange it for its corresponding physical item. Required steps include submitting personal delivery information and transferring the NFT to a platform-controlled address. An administrator reviews and verifies the application, handling all logistics to ensure safe delivery. Once ready, the administrator has the authority to burn the NFT, permanently transferring asset ownership to the user.
• Physical Item to NFT Custody: Users can also request NFT minting for a physical item in their possession. The process involves submitting an application with details about the item, a tracking number, and the user’s wallet address for NFT receipt. The administrator confirms the item’s receipt off-platform, then mints an NFT that represents the item and sends it to the specified wallet.
• Status Tracking: Both redeem and custody requests include comprehensive status models, keeping users informed throughout the process. Redeem requests track statuses like "NFT received" and "Physical object sent," while custody applications update statuses such as "Sneakers received" and "NFT minted."

Claimable NFT

The Claimable NFT feature enables users to redeem NFTs in the “ArtZ” and “CollectibleZ” categories for their corresponding physical items. To initiate a claim, users provide delivery details and transfer their NFT to a platform-controlled address. Administrators verify the request, coordinate the delivery, and, once complete, burn the NFT to finalize the exchange. This process ensures secure, reliable NFT-to-physical transactions, with clear status updates to enhance user confidence and transparency.

Challenges

The META Z platform development process presented a number of unique challenges, largely due to the intricate blend of NFTs, e-commerce, and logistics operations that had to be integrated to deliver a seamless and user-friendly experience.

• User-Friendly Onboarding: META Z is an NFT-based trading platform with a diverse user base. We needed to create an intuitive onboarding process to make it easy for users, whether they're blockchain experts or sneakerhead beginners, to connect their wallets, set up profiles, and interact with NFTs. This made it tricky to create a user-friendly interface that didn't compromise on security.
• Parcel and NFT Management: META Z’s unique redeem and custody feature required handling complex logistics for the physical exchange of items, followed by minting corresponding NFTs. The team’s first-time experience with integrating parcel tracking and NFT generation processes into a seamless flow added significant complexity to development and testing.

Solutions

To overcome these challenges, our team leveraged a combination of technical expertise, strategic use of technology, and agile problem-solving skills:

• User-Centric Onboarding: Our team came up with a simple, wallet-based onboarding system that automates registration, login, and logout to make it easier for users. We made sure users could easily connect wallets, manage profiles, and navigate the platform using the best UX/UI practices. This approach brought together user empathy and secure, blockchain-focused design, making META Z easy to access and inviting for all users.
• MUI Component Reusability: We knew working with the new MUI library might be tricky, so we made sure to focus on component-based design from the start to make things easier in the long run. By building reusable UI elements, we were able to streamline future redesigns, which meant we could make quick changes while maintaining visual consistency across the platform.
• Polygon Gas Optimization: To address the Polygon network’s gas calculation discrepancies, we integrated a third-party API for accurate gas estimations. This solution ensured reliable transaction processing on the Polygon mainnet and enhanced the platform’s performance, reinforcing our ability to identify and implement advanced technical solutions under pressure.

Streamlined Parcel-to-NFT Workflow: Leveraging our team’s adaptability, we developed workflows that efficiently handled multiple stages of parcel processing, data verification, and NFT creation, allowing META Z to bridge the digital and physical worlds seamlessly. Our expertise in blockchain development, user experience design, and ability to rapidly understand and adapt to the specific needs of your business has enabled us to bring this feature to life.

Results

The launch of META Z was met with significant success, achieving high user adoption and engagement rates among both blockchain newcomers and experienced collectors. The platform’s user-friendly interface and streamlined onboarding attracted a loyal community of sneakerheads and NFT enthusiasts, quickly establishing META Z as a go-to destination for trading sneaker NFTs.

Debuted at NFT NYC 2023, META Z attracted $1 million in Series A investment from Pinewood Capital. It was recognised as a perfect example of an NFT application and got so much attention that we ended up talking with a number of VCs and investors after the event.

Impact

META Z is one of the top names in combining NFTs and e-commerce. They're setting new standards for how NFTs can be used and showing what's possible in the sneaker industry. Its debut at NFT NYC 2023 generated substantial industry buzz, with METAZ hailed as a perfect example of real-world NFT application.

This widespread recognition puts METAZ in a great position to show other brands how to combine physical products and digital assets. With META Z, we demonstrated our team’s ability to craft transformative solutions that captivate audiences and drive new business models. That's how we're making sure META Z is a leader in the NFT ecosystem.