We want to make digital assets accessible to everyone. We believe that non-fungible tokens have broad applicability but still haven’t seen mass adoption due to onboarding friction and the specialized knowledge and development needed to deploy solutions.
Our Solution: Nftery
Sponsor Technology: Fortmatic Wyre Infura Telegram: @asselstine @chuckbergeron
Nftery allows e-commerce merchants to generate digital inventory for their products. Each product can be represented by a collectible and be customized in some way; whether the collectibles are numbered or have a limited run. The ownership of a collectible can unlock other products whether on this store, or another.
Because we are targeting an extremely broad audience, Fortmatic and Wyre will be essential for on-boarding. Both customers and merchants will be able to use Fortmatic to manage their assets, and merchants will be able to use Wyre to top-up their account.
How would people use collectibles?
Let's talk about a real world use case.
In the music industry scalpers have cannibalized ticket sales, resulting in sold-out concerts that are sometimes empty. Artists have started experimenting with identifying their true fans, and giving them early access to tickets and merchandise.
Using digital assets, fans can be given special collectibles that unlock tickets or merchandise. Anyone can verify they own the asset because it's a public database.
Why use Fortmatic?
Fortmatic gives us the ability to onboard anyone with a smartphone. Users don't need to have MetaMask installed or be using a special dapp browser. It's a no-brainer.
Why use Wyre?
Wyre lets anyone get Ether so that they can start running transactions. This will be essential for merchants who just want to start minting products.
How we built it
Nftery consists of:
- A Node/React web application embedded in Shopify as an app
- A smart contract that serves as the factory for ERC721
- A snippet of code that runs in the Shopify checkout for consumers
Challenges we ran into
The shopkeeper and the customer are regular people that need to be onboarded into the crypto world without knowing about fiat.