Mintable: Blockchain version of "Xianyu"｜Project Introduction

Author: 0x13, Rhythm BlockBeats

What can you think of when talking about the field of NFT application? Blockchain games, encrypted art, or the recently emerging physical asset tokenization, no matter which field, there is a huge demand for buying and selling.

The NFT trading platform is like the "Xianyu" app we usually use, we will sell the items we want On the shelves, waiting for the purchase of "destined people". When we use "Xianyu", besides browsing products, what functions do we often use? Most people will chat with the seller privately, either to bargain or to learn more detailed information about the product; in addition, both buyers and sellers will check each other's "credit score", and once they find that the other party's credit score is low, they will consider rejecting it. buy or sell.

In contrast, the functions of OpenSea, the largest NFT trading platform at present, are not perfect. To buy such the most basic function, people often need to know more detailed information to judge whether an NFT such as a game item or artwork is worth buying. So, is there a more complete platform to help people improve the experience of buying and selling NFT?

Mintable is a decentralized NFT trading platform where users can mint and trade NFTs. Mintable provides many practical functions that do not exist in other NFT trading platforms. In addition, Mintable also combines NFT and DAO in a novel and interesting way.

New Generation of NFT Trading Platform

If NFT trading platforms such as OpenSea and Rarible provide users with NFT trading venues and classification and management services for users' NFTs, then Mintable uses more functions to "help" users to complete transactions on this basis .

Send a private message to the buyer/seller

Just like in the "Xianyu" app, Mintable users can send private messages to the seller to learn more about the details of the product, and the seller can also contact the buyer to urge the other party to pay in time, although this function is not available on off-chain trading platforms (such as Taobao , Jingdong, etc.) have been very common and widely used, but for NFT trading platforms, Mintable is the first NFT trading platform to launch this function, and perhaps in the future, this function will be followed by many platforms.

Product promotion

For artists and sellers who are not well-known, how Letting their works and products be "seen" by more people has been a problem that has plagued them for a long time. The off-chain trading platform provides many promotion channels, such as Xianyu’s “Shu Yicha” and Taobao’s “Through Train”. Only by being seen can it be bought.

However, on the NFT trading platform, only when your product has just been put on the shelves, the buyer can only see it when he chooses "View the latest products on the shelves" Arrived, and after a while, your product will be "overwhelmed" by more new products on the shelves.

Mintable provides a promotion function, users only need to pay ETH to obtain the promotion service, so that the product can continue to gain exposure. At present, in the niche NFT market, products on the Mintable platform have received more than 20,000 views.

Score buyers/sellers

When we shop, apart from understanding the product itself , Often also refer to the evaluation of the seller by the users who have already purchased, and the seller will also check the evaluation of the buyer to decide whether to sell. Users with a high reputation will be able to complete transactions more easily, while users whose reputation has become extremely poor due to fraud, counterfeiting, etc. cannot continue their poor behavior. Mintable provides scoring and evaluation functions for buyers and sellers, so that high-quality users can be better promoted, and low-quality users can gradually disappear from the market.

True NFT+DAO

Recently, Xianyu launched the "Xianyu With the "Small Court" function, experienced users will have the opportunity to participate in judging other users' transaction disputes. Although the impartiality and practical role of the Xianyu Small Court have often been criticized since its launch, it can be seen as a step forward from centralized applications to decentralized governance.

Mintable also introduces a centralized governance mechanism, and Mintable’s NFT+DAO has similarities with other platforms’ NFT+DAO mechanisms A big difference.

Today, most DAOs are built with ERC-20 tokens as their means of governance voting, This leads to many token holders not being users of the project, but just investors, and even worse, many token holders are "speculators" who will not contribute to the development of the project, which deviates from the original The essence of centralized governance.

Mintable sets the token used for governance voting as ERC-721 token, which is NFT.

Mintable NFT DAO is the first in the world that does not have ERC-20 but votes through ERC-721 (NFT) DAOs. As an NFT platform, Mintable's team believes that not every DApp needs to issue its own ERC-20 tokens, and promises not to issue its own ERC-20 tokens in the future.

So, what are the benefits of using NFT as a means of voting governance?

Using NFT governance will not be affected by currency price fluctuations. The difference between NFT and ERC-20 tokens is that even if a person's voting rights are as high as 50%, it is still just an NFT. It can avoid the speculative behavior of some users using governance tokens; moreover, using NFT voting will concretize voting rights, which is more ceremonial; in addition, selling votes or NFT used for voting is a point-to-point interaction without relying on Uniswap Wait for a third party.

This will build a healthier and safer ecosystem for DAOs.

Only those who own NFT have the right to vote, and these NFTs representing voting rights are distributed along with the Mintable platform NFT transactions are given to buyers and sellers. That is, when you buy an NFT, in addition to the NFT itself, you will also get an NFT representing voting rights, and the number of votes represented by each NFT is also different. Afterwards, if the transaction is made again, a new NFT representing voting rights will not be obtained, but the newly obtained number of votes will be superimposed on the original NFT.

In addition to trading NFT to get votes, you can also buy votes through Bonding Curve, the initial price is 2.5 US dollars per piece, you can The number of votes available for purchase is 10 million, which allows people to quickly accumulate votes without waiting for the NFT to be sold.

When a user has 10,000 votes, he is eligible to initiate a proposal, and the participation rate of each proposal needs to reach 15% of the total votes are required to pass. The user's NFT will not be burned when voting, but will be locked. After the voting is over, it will be unlocked and returned to the user.

This voting mechanism ensures that users who actively use the Mintable platform can have more voices to help the platform become more develop well.

Mintable is currently being updated, and the latest version is expected to be launched at the end of November. At that time, players will be able to trade NFT and Buy votes.

Team Introduction

Zach Burks

Mintable founder and software development director, from Consensys Developer Research Institute, proficient in Solidity, business development, JavaScript and blockchain technology. He used to be the CTO of Harvest Network and the commander of the U.S. Artillery Battalion.

Mark Kamphuis

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Marketing director, former Zilliqa marketing director, Woelgeest creative brand director, graduated from Utrecht University.

Jiawen Ngeow

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Head of Operations and Business, graduated from the National University of Singapore, was named one of the "Singapore's Top 15 Cryptocurrency Czars" by the Singapore Business Review, Organizer of Block Live Asia , Co-founder and CEO of Grounded, co-founder of MEGAX and The Cult.

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