Functional requirements of a web based NFT (non-fungible token management system) as a final year project
Functional requirements are specifications that describe what a system or software application should do to meet its objectives and fulfill user needs. For a web-based NFT (Non-Fungible Token) management system, here are the functional requirements that i give to one of my student to complete these functional requirement for his final year project:
User Registration and Authentication:
Allow users to register and create accounts securely.
Implement authentication mechanisms, such as email verification and password reset functionality.
NFT Creation and Minting:
Enable artists and creators to upload their digital artworks and mint them as NFTs on the blockchain.
Include metadata fields for NFT details, such as title, description, royalties, and provenance.
Profile and Portfolio Management:
Provide users with the ability to manage their profiles, view their NFT collections, and showcase their portfolios.
Legal Compliance:
Ensure compliance with relevant laws, especially regarding intellectual property, copyright, and tax regulations.
Responsive Design:
Ensure that the web application is responsive and accessible across various devices and screen sizes.
Backup and Recovery:
Regularly back up the data and implement a recovery plan to ensure data integrity and availability.
Royalty Management:
Implement a royalty distribution mechanism to automatically pay creators a percentage of each resale or secondary market transaction.
Auction and Bidding:
Allow users to participate in NFT auctions, with features such as minimum bids, reserve prices, and countdown timers.
Search and Discovery:
Implement a powerful search engine to help users discover NFTs based on various criteria, including keywords, tags, and categories.
Ownership and Transfer:
Ensure that NFT ownership is accurately recorded and transferred between users during purchases or trades.
Notification System:
Set up email notifications for users, informing them about bid updates, successful sales, or other important events related to their NFTs.
NFT Marketplace:
Create a user-friendly marketplace where users can browse, search, and filter NFTs based on different criteria (e.g., category, artist, price).
Allow users to buy, bid on, and sell NFTs securely within the platform.
Admin Dashboard:
Develop an admin panel to manage user accounts, monitor transactions, and moderate content if necessary.
Analytics and Reports:
Provide analytical insights and reports on platform usage, NFT sales trends, and revenue generation.
Security Measures:
Implement security measures, such as encryption and secure connections, to protect user data and transactions.
Wallet Integration:
Integrate cryptocurrency wallets (e.g., MetaMask) to enable users to manage their NFTs and conduct transactions securely.
User Feedback and Rating:
Allow users to provide feedback and ratings for artists and buyers after transactions.