Inspiration

Solana’s transaction speed, throughput and near zero transaction cost make it right to create a truly seamless NFT buying and selling experience; making the user experience similar to buying and selling from ecommerce sites. This makes it possible for Solana to onboard the next billion users to NFTs, and subsequently democratizing and powering physical commerce on the blockchain.

What it does

SolShop is an NFT marketplace for creators and artists built on the Solana blockchain that allows for “gas”-less and instant minting of NFTs. Creators can mint and auction or sell NFTs on their own custom subdomain without any coding skills. Shoppers can bid and purchase NFTs without long transaction waiting time and with crypto or traditional payment options; democratizing NFTs to the masses.

Full Google Docs link: https://docs.google.com/document/d/1nfMMgtU_ZHuSGDXhqtTEp93PNChtm5aXZi6kNnIcAIU/

How we built it

  • “Gas”-less minting with meta transactions
  • To be built on top of Metaplex
  • Creators will pick a username and be given a subdomain to host their storefront without writing code: e.g. username.solshop.io (currently owns the solshop.io domain)
  • [Optional/Future] Creators will also get a custom sub-SNS (Solana naming service) URL to receive payments: e.g. username.shop.sol (currently owns shop.sol)
  • Provides easy fiat on/off ramp to SOL, USDC (with relevant currency conversion)

Challenges we ran into

Accomplishments that we're proud of

What we learned

What's next for SolShop

  • Business model: Charges a small transaction fee on each secondary trade
  • Organic onboarding of creators and artists (including from other blockchains); value proposition: 0 minting cost, lower transaction fee, instant minting and trading (no long transaction waiting time), easy storefront set up with no coding skills
  • Partners with popular NFT projects to onboard to the marketplace
  • [Future] SolShop token: Token holders will be distributed a portion of marketplace transaction revenue and can vote for governance. Early creators and user referrals will be rewarded with tokens. Key is to share the success of the marketplace with creators and users, and drive viral growth loop with SolShop tokenomics.
  • [Future] Mobile app
  • [Future] Extend beyond digital goods to physical goods/commerce, NFTs representing licenses to copyright, etc.

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