We created a simple bonding curve for NFTs, a DeFi solution that allows users to buy an NFT from the curve and sell back into it. The value of the bonding curve for NFTs is that fans are more incentivized to buy NFTs because they will be guaranteed to sell them at or above the original price. Creators can have higher earning potential because increments of NFTs in the collection will automatically sell at a higher price. In addition, we saw the bonding curve as an opportunity for creators to join and collaborate together. We thought only that creators with similar artwork (or perhaps "metadata") could join and participate in the bonding curve. We created similar NFTs using ETHBlockArt's templates and we implemented an artwork profile that lists the metadata and the creator(s) and owner(s) of pieces, enabling creators to find potential collaborators.
How It's Made
We created the frontend using React and TailwindCSS. We were also going to route our site to an ENS domain so that creators can always have access to the bonding curve as a DeFi solution but we were unable to due to financial constraints. We referenced Austin Griffith's Scaffolding ETH repo for ideas on how to implement the bonding curve smart contract. We implemented Rinkeby and Polygon Mumbai testnets for minting NFTs, and integrated with IPFS to store the original artwork. We created similar NFTs using ETHBlockArt's templates and attempted to use ETHBlockArt's templates to grab metadata to identify creators with similar artwork. We implemented an artwork profile that lists the metadata and the creator(s) and owner(s) of pieces using the Covalent API. We attempted to show the bonding curve data using the API.