Description

NFTs were a hot topic in 2021, and we believe it will continue to be in 2022 and the years to come. However, out of the many projects launched every day, only a few will ever be able to provide perpetual utility to their holders. The reason is that before human civilization ever goes fully digital in the metaverse, there will always be a need for tangible utilities. NFTs today struggle to provide that because there is a lack of efficient verification methods and an aggregated platform for merchants and NFT teams to collaborate. Our team has developed a solution and prototype over the past 36 hours, tackling the problem with three key product features. It is safe to say that everyone has a web2 credential, and we tap on excellent tools like web3auth, WalletConnect, and Tatum to allow users to bind their web2 identities with their NFT wallets. We have also built a lifestyle application that serves as an aggregated platform for users to discover and manage rewards offered by their NFT holdings, which is unlocking the potential of real-world utilities for all NFTS. The platform also serves as a medium for merchants to easily set up campaigns collaborating with different NFT collections.

NiftyRewards showcase

How it's made

There are 3 sponsor technology that really help to make this project work, and they are: Web3Auth, Tatum, and WalletConnect. Web3Auth allows users to quickly create user accounts with Social Media sign in such as Google, Twitter, Discord etc. This reduces the friction of getting users on-board by a significant amount. Our team has utilized the Wallet address generated by the Web3Auth to be the key to future bound addresses to the Web3Auth Account. For example if the user has 10 NFTS in wallet 2, wallet 2 can be bound to the wallet generated by Web3Auth (wallet 1) such that having ownership of wallet 1 can prove ownership of assets in wallet 2. Tatum is utilized to identify the NFTs owned by the users to determine what real-world rewards they should have. Wallet Connect is used to allow users to connect their existing wallets containing NFTs to our App which would allow them to easily access the cool rewards and discounts available. The interface is a web app that allows users to easily bind their existing wallets with the web2 login service by Web3Auth. The logic layer is built using Golang and data is stored on postgres.