ABSTRACT
NFTs or non-fungible tokens are unique digital assets with identifiable characteristics. NFTs can take the form of digital art, GIFs, videos, collectibles, video game merchandise, music, and even tweets. Uniqueness of a digital asset encompasses more than just visual properties, but also factors such as item IDs and hash codes. This means that even though the two NFTs are visually indistinguishable, they have different IDs and codes. In the digital space, these elements are an integral part of an asset's identity as they contain important data about the object's history. The popularity of the Non-Fungible Token (NFT) has grown tremendously since 2020, becoming one of the most popular applications in the Fintech field. However there is still lack of platforms which provide all the functionalities regarding NFTs (including minting, buying and selling) at a single place. This research paper introduces an algorithm for creation of NFTs along with ensuring owner verification which can be used for minting the NFTs in an E-commerce website using the MOTOKO language for creation of canisters consisting the owner id for owner verification and the principal id which serves as a unique token id for the NFT.
