Web3 Platform: NFTs
A first-of-its-kind web3 platform enabling celebrities and content creators to build fan communities.
The client offers a Web3 platform developed on blockchain where celebrities/content creators can develop fan communities and allow followers to win a portion of their success. This allows fans to become a part of the creator’s exclusive community. The client had identified a blockchain system for NFTs and needed a Web3 platform to be developed to enable engagement in the form of selling the creator NFTs and later also trading them through an online marketplace.
The client had developed the backend rule engine; however, they were struggling with an intuitive front end that happens to be the most important for any web3 platform to perform well. A lack of hassle-free buying experience for the fans was missing. This led to the scaling-up issues because of the inability to have a maximum number of fans connected to their platform. Additionally, their model revolved around a rewards system meaning every NFT buyer was eligible to win tokens that would be used for trading in with the merchandise. This was a major challenge as the lack of an ability to track transaction purchases could not enable the token-reward process. Lastly, the lack of the most widely used payment method was missing, which led to losing a significant amount of traction without any purchases.
Our development team at Incentius had a week-long workshop to understand the client’s blockchain system. It was a smooth process, given our engineering team’s knowledge of the world of blockchain. Our teams studied hundreds of web3 platforms and came up with possible options to choose from for the client. It started with developing a fully functional inventory system to manage and keep a track of all the available and newly published NFTs. This further streamlined the transaction tracking and rewarding process. Additionally, an admin gateway was built to control all inventory using our front end and a panel to track, manage, and maintain the distribution of rewards. Lastly, to increase engagement and improve user experience, custom payment gateways were developed that empowered the buyers to use day-to-day payment methods such as UPI and debit/credit cards to top up the wallet used for purchases.
Incentius provided the much-needed impetus to the client’s go-to-market strategy. The go-live that one point of time was at risk happened well within time as Incentius could develop and deploy the entire solution within 2 months. With the first-of-its-kind web3 platform for the creator economy in India, Incentius has developed the engine that now enables users to quickly, easily, and safely buy NFTs with the payment method of their choice. This success has led to Incentius being a strategic development partner that will now develop and deliver a marketplace for the fans to trade the NFTs.