As aspiring creators ourselves, we were turned off by how difficult it is for creatives to generate revenue without the support of a platform or organization that requires significant compensation. We realized that blockchain technology would be able to help solve this problem, but when asking the average person what blockchain or NFTs are, we were often met with blank stares. People don’t often trust platforms that use technology they don’t understand, so we wanted to change that. Even for those who understand NFTs, the minting cost remains high and is unaffordable for many. We decided to make it our mission to make NFTs easy and affordable for everyone while offering fair creative compensation. While NFT marketplaces exist, we couldn't find a completely decentralized social media platform that was easy to use (UX) and affordable (gas fees) while giving back over 90% of revenue to the creator.
What it does
Momint is a NFT social content platform made to inspire and empower the creative in all of us. Users will be able to capture, collect, and share one-of-a-kind glimpses into their and others' lives while developing close relationships with the creators and communities they admire most. Because of our semi-autonomous structure, users will determine how Momint evolves in order to best fit the community that supports our platform through voting with ERC-20 governance tokens. Our decentralized structure means no ads, no fees, no government/corporate censorship, and that users own 100 percent of their data. Oh, and did we mention that our creators will keep 90+ percent of the revenue they earn?
Our seamless User experience along with in-app wallet configuration and Twitter verification will make it easy for anyone (with or without a background in NFTs or blockchain) to mint their content. Because of our semi-autonomous structure, users will determine how Momint evolves in order to best fit the community that supports our platform through voting with ERC-20 governance tokens. Having a decentralized platform means no ads, no fees, no government/corporate censorship, and that users own 100 percent of their data. Incorporating a layer 2 solution allows us to drive down gas fees associated with the minting process, and our customizable community feature will allow users to develop relationships with the creators they love by joining the creators’ exclusive communities through in-app microtransactions or NFT purchases.
How we built it
Through our research, we decided on a stack of React-Native, EthersJS, IPFS, Brownie/Truffle, and Polygon for our Layer 2.
Challenges we ran into
Our primary challenge was developing and building out our ideas within the given time constraint. While improving, documentation for creating decentralized applications can be limited and confusing. Finding the right stack is an important building block for any application to stay coherent and scale. During development, we spent a lot of time deciding what technologies we want to include in our application that would allow for us to promote scalability and longevity. IPFS or Areweave? Matic PoS Chain or Matic Plasma? Dedicated node provider or light node? How will our DAO token sustain itself? React-Native with Web3 or EthersJS? How will our smart contract system be modular? You can get an idea of some of the many questions we sought after. Because this space is evolving every day with new libraries, APIs, etc, this research process never really ends; a healthy part of our time was spent sandboxing and getting acquainted with all these unfamiliar technologies first before beginning app development. While these challenges ranged from quick google searches to multiple day-long rabbit holes, our team persisted and in result furthered our platform’s vision, our knowledge in dApp/blockchain development, and our proficiency as software engineers.
Accomplishments that we're proud of
With two of our three-member having little to no blockchain experience prior to the start of the hackathon, we are proud of how much we learned about the conceptual and technical aspects required to create a dapp. We're glad to have made the foundation of a platform that will allow everyone to harness their inner creativity and monetize their creations while receiving over 90% of the revenue their Momints generate. navigate the world of NFTs without prior experience due to our [soon to be] seamless UX.
What we learned
We learned how valuable a well-organized design sprint is at the beginning stages of development. While not all ideas or development teams benefit from a fail-fast learn-fast approach, developing our idea quickly allowed us to determine which features and integration of our app will require the most time and persistence (Twitter account verification, in-app wallet creation, and credential distribution.
What's next for Momint
We are continuing to develop: ERC-20 tokens for voting and microtransactions; Light Node Provider; In-App messaging; FIAT ⇔ ETH conversion; Layer 2 solution