Burn2Redeem NFT marketplace for Social Impact

Art + Technology community bringing aid to animal shelters in a decentralized manner.

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Inspiration

In this project we seeked to create long term funding mechanisms for Animal Shelter organizations while providing the Animal Lover community a crypto-native window to create impact through the sale/purchase of digital assets that go according to our communities ethos. NGOs are prone to continued budget-deficits and dependant on donation-based models. We believe that using the toolkit of Web3 (NFTs, Metaverse, DAOs) with impact-oriented tokenomics we can help creating sustained financing for Stray Dog's Animal Shelters by becoming a platform for Animal Shelters to sell membership benefits as well as selling retail-products under the Aura Dogs umbrella, adopting cryptocapitalism for social good.

What it does

  1. BURN TO REDEEM The following Game Theory is introduced for this feature: Users purchase a particular Aura Dogs NFT Artwork. Let's say this artwork is a unique piece converted into 10k NFTs that represent the same artwork. Now the user is incentivized to keep this NFT for the artwork itself, which has some unique value that is altered as it becomes more scarce as a unique Art piece. At the same time, the user is incentivized to trade its NFT and burn it in order to exchange this particular artwork for a particular retail product. As more retail products are reclaimed and replaced with a renderless voucher of what once was a Unique item in this collection, the collection and the particular artwork becomes more scarce, rare and valuable over time.
  2. ANIMAL SHELTER MEMBERSHIPS Users can support a particular Animal Shelter of their choice and sponsor them directly via the issuance of NFT memberships for Animal Shelters. In this way, Animal Shelters can issue their own NFT memberships and create unique benefits to attract donors from around the world. In this way, they can create additional revenue streams and provide personal products/services to their members, engaging with their communities in novel ways withouy relying on donations but rather selling digital assets to fund themselves.

How we built it

We started out with a UX/UI design of a landing page that details the project. From there, we built an application with tabs for BURN2REDEEM and NFT-MEMBERSHIPS. We built a React app on Vanilla Js and we delved deeply into the Thirdweb SDK. We deployed NFT contracts on Thirdweb but had to adapt functions to create the Burn2Redeem mechanism. We also used Pinata and IPFS to host our images and CIDs. We deployed on the Mumbai testnet.

Challenges we ran into

Thirdweb can be compliated and their docs are incomplete as you add complexity. We tried to solve using JS functions.

Accomplishments that we're proud of

The concept behind helping Animal Shelters is really cool, specially since the idea is that everytime a transaction occurs, payments are split. We made a graph that details this focus, but the ratios in the smart contracts are the following: BURN2REDEEM Artist 70%, Animal Shelters Multi-sig 30%. MEMBERSHIPS: Artist 0%, Animal Shelters 100%.

What we learned

I really loved how many protocols easily interact with Polygon. While I was researching this project I got deep into docs from Radicle Drips, Unlock, ThirdWeb, Gnosis Safe, etc. it's pretty amazing.

What's next for Burn2Redeem NFT marketplace for Social Impact

We need to create a better flow of hiding functions in order for this to function seamlessly. Also, I would like to add a recording so that everytime you hover over the round a bell would ding, a street-fighter asian voice would "BURN2REDEEM'-then a dog would bark WOOF!-a japanese harp would string and a Lo-Fi song would play as background for every round. Will ask a friend for his mic and records this maybe I will upload it to the repo.

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