How We Made a Custom Cryptocurrency Wallet: Mighty Jaxx

Client Overview –Brief 

Mighty Jaxx is a design studio and production business based in Singapore that produces one-of-a-kind and collectible art toys, sculptures, and lifestyle goods. Since its founding in 2012, the business has developed into a major force in the designer toy market, working with more than 200 artists and international brands. 

Products from Mighty Jaxx are renowned for their fine craftsmanship, meticulous attention to detail, and innovative designs. They create licensed goods based on well-known franchises including DC Comics, Marvel, and Rick and Morty as well as limited edition and open edition art toys. 

Also, the business provides a selection of artistic services, such as product design, prototyping, 3D printing, and production. They collaborate with customers to realize their visions and produce one-of-a-kind, personalized goods that cater to their particular requirements. 

Mighty Jaxx is well-known in the international art and design scene, and their goods are available in more than 50 nations. They are renowned for their dedication to quality and customer service and have received numerous accolades for their creative designs.

Before we dive into the client requirements page let us take a brief dive into the world of Web3 technology, Metaverse and NFT’s. 

A brief comparison of Web 1, Web 2 and Web 3.0 Technology

Web 1.0 was centered on information sharing using static web pages, Web 2.0 brought about user-generated content and collaboration, and Web 3.0 is focused on individualized, context-aware experiences using artificial intelligence and machine learning. 

What is Metaverse? 

A metaverse is a shared virtual environment that merges the physical and digital worlds to produce a communal experience that is the next step in the development of the internet. The metaverse is made up of interconnected digital settings that build a cohesive virtual universe, much as how the internet began with separate websites. 

A metaverse, unlike the internet, is neither controlled by a single company or restricted to a single type of computer. It is a virtual economy made possible by digital money and non-fungible tokens (NFTs), providing countless opportunities for invention and creativity.

Virtual reality (VR), augmented reality (AR), flexible work patterns, head-mounted displays (HMDs), an AR cloud, the Internet of Things (IoT), 5G, artificial intelligence (AI), and spatial computing are just a few of the technologies and trends that must come together to create a metaverse. Together, these technologies produce a fully immersive and interactive experience that allows users to easily navigate and engage with the digital environment around them. 

What is Blockchain Technology?

Blockchain is a technology that enables safe information sharing through a distributed database or ledger. In a public or private computer network, the power to update the ledger and record transactions is shared among the nodes. A decentralized method of managing data is provided by this technology, also known as distributed ledger technology (DLT). The nodes are given incentives in the form of virtual tokens or money to promote blockchain updates. 

What are NFT’s ? 

Non-fungible tokens (NFTs) are blockchain-based assets that differ from other tokens by having particular identifying codes and metadata. Depending on their owners' and the market's perception of their value, they can be traded and converted into cash, cryptocurrencies, or other NFTs. 

For instance, you could tokenize and sell an NFT of a banana image. Depending on how little people are prepared to spend on it, it may be worth millions of dollars. NFTs are not fungible or interchangeable, in contrast to cryptocurrencies. It is impossible to switch two NFTs from the same blockchain even though they look to be identical. 

• Non-fungible tokens (NFTs) are exclusive cryptographic tokens that are only available on blockchains and cannot be copied. 
• Most NFTs are stored on a blockchain called Ethereum. 
• NFTs can represent real-world or digital objects, such as art and real estate. 
• These physical assets can be "tokenized," which improves the efficiency of trading while lowering the risk of fraud. 
• NFTs can represent many things, including people's identities and property rights. 
• When the public became more aware of them, collectors and investors started looking for NFTs, but their appeal has since diminished. 

What is MetaMask? 

The well-known browser plugin and cryptocurrency wallet MetaMask enables users to connect with decentralized apps (dApps) running on the Ethereum network and manage their Ethereum-based assets. It was developed by ConsenSys in 2016 and is currently among the most popular bitcoin wallets worldwide. 

Users can store and manage ETH and other Ethereum-based tokens including ERC-20 and ERC-721 tokens using MetaMask. For the browsers Google Chrome, Firefox, Opera, and Brave, a wallet plugin is available. 

MetaMask lets users connect with decentralized apps (dApps) on the Ethereum network without the need to download any additional software, in addition to saving cryptocurrency. This makes it simple to take part in a variety of decentralized finance (DeFi) applications, including lending platforms, decentralized exchanges, and more. 

All things considered, MetaMask is a user-friendly wallet that offers a practical way to store, handle, and communicate with Ethereum-based assets and decentralized apps. 

Client Requirements 

1. Creating a bridge between a website and cryptocurrency wallets like MetaMask and Coinbase. As they wanted to sell NFT’s they required middleware for their website and wallets. 

2.They wanted to create a Christmas day offer for 12 days. New offers every day based on the concept of scratch cards. 

3.Spin the wheel to attract new and retain existing customers. 

How we did it? 

To implement the "Connect Wallet" button feature on Mighty Jaxx website we followed these steps: 

- Created a "Connect Wallet" button on the website. 

- When the user clicks on the "Connect Wallet" button, a popup should appear with three options: MetaMask, Coinbase, and Wallet Connect. 

- If the user clicks on the MetaMask option, we use a Ethereum library such as web3.js or ethers.js to establish a connection to the MetaMask wallet and retrieve the wallet address. 

- We displayed the "Add to Cart" button, indicating that the user has successfully connected their wallet and can now make purchases on the client’s website. 

Technology Utilized 

1.Ethereum Library 

2.JavaScript, jQuery 

3.For Spin the wheel- Shopify Liquid, Javascript, CMS(Sanity), HTML, CSS 

In the words of Mighty Jaxx 

Outcome 

When selling NFTs on their platform, Mighty Jaxx uses middleware to streamline the process. It is simpler for developers to interface with the blockchain when middleware is used as a middleman between the application and the blockchain. 

By utilizing this app, Mighty Jaxx is able to focus on developing its NFT marketplace without having to worry about the intricacies of blockchain technology. Companies can quickly develop smart contracts, monitor transactions, and communicate with the blockchain by integrating middleware into their current infrastructure. 

Mighty Jaxx can control the performance and scalability problems related to blockchain technology with the help of our solution. They have used it to improve the speed and effectiveness of their NFT transactions and make sure they can process a lot of transactions quickly. 

In general, this solution gives Mighty Jaxx a strong tool for streamlining the sale of NFTs on their platform. By utilizing middleware, they have put all their attention towards improving user experience and promoting platform adoption rather than worrying about the intricacies of blockchain technology. 

Lucent Innovation is a leading software development and blockchain development that specializes in building custom solutions for businesses of all sizes. With a team of experienced developers, designers, and marketers, we are dedicated to helping our clients achieve their business goals and drive growth through technology. 

Our services include web and mobile app development, e-commerce development, custom software development, digital marketing, and more. We work closely with our clients to understand their unique needs and provide tailored solutions that are both effective and efficient. 

If you're looking for a trusted partner to help you with your software development or digital marketing needs, we would love to connect with you. Contact us today to learn more about our services and how we can help your business succeed. 

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