Methodology of creating NFT fashion projects

Abstract

There is a lot of misunderstanding about what non-fungible tokens represent. They are usually associated with some kind of ownership or certification, but it is much more than that. This document aims to inform the readers about different use cases of NFT in the real and virtual world, with applications in the fashion industry. The paper aims to propose a methodology for creating NFT fashion projects. According to the proposed methodology, modelling of the ecosystem for the fashion industry based on NFT is presented. An example of creating an NFT collection, minting and realizing a transaction using a smart contract was also developed. The PyTeal programming language was used to develop the smart contract, and the Algorand platform and market were used to display transactions and minting.