NFTracer: A Non-Fungible Token Tracking Proof-of-Concept Using Hyperledger Fabric

TL;DR

NFTracer is a blockchain-based platform using Hyperledger Fabric to track unique tangible assets like artworks and real estate, demonstrating decentralized modification tracking.

Contribution

It introduces NFTracer, a novel non-fungible token tracking system built on Hyperledger Fabric, showcasing its application in art and real estate auctions.

Findings

Successful implementation of NFTracer for asset tracking

Demonstrated advantages of decentralized modification history

Flexible modular architecture for diverse asset types

Abstract

Various start-up developers and academic researchers have investigated the usage of blockchain as a data storage medium due to the advantages offered by its tamper-proof and decentralized nature. However, there have not been many attempts to provide a standard platform for virtually storing the states of unique tangible entities and their subsequent modifications. In this paper, we propose NFTracer, a non-fungible token tracking proof-of-concept based on Hyperledger Composer and Hyperledger Fabric Blockchain. To achieve the capabilities of our platform, we use NFTracer to build an artwork auction and a real estate auction, which vary in technical complexity and demonstrate the advantages of being able to track entities and their resulting modifications in a decentralized manner. We also present its accompanying modular architecture and system components, and discuss possible future works on NFTracer.