HeirDrops
The first onchain multi-vendor marketplace, where physical products are sold with the convenience of fiat and crypto payments. Users are rewarded for their transactions through seasonal airdrops.
About
The problem it solves Problem: While Web3 promotes decentralization, centralized marketplaces capture the most liquidity in the space by hostthe best products in one place (e.g. CEXs like Coinbase and NFT marketplaces like Magic Eden or OpenSea). Brands selling merch and products cannot take advantage of these marketplaces and are limited to their websites, creating a barrier of exposure and reach. They often miss out on new cunless they’re already part of the brand’s community or twitters algorithm bubble, which involves multiple clicks and steps to find the product. Solution: By integrating the Coinbase smart wallet and Stripe’s fiat-to-crypto payment solutions, HeirDrops ensures a seamless purchasing experience for all users. This integration allows both average users, who may prefer traditional fiat transactions, and experienced Web3 investors, who are comfortable with crypto, to easily make purchases on our marketplace. This dual approach bridges the gap between fiat and crypto, making the transition to onchain commerce smooth and accessible for everyone. Problem: The web3 space still struggles to find a way to leverage Instagram’s platform for user conversion in to crypto. This is a great problem as their is a huge consumer market and untapped influencers and brands with millions of followers. We believe the main barrier is that it’s hard for the customers to buy what they don’t want and even harder for influencers or brands to sell what they don’t understand. Solution: With HeirDrops we leverage Instagram by allowing influencers and brands to sell what they believe in and their lifestyle represents while their followers and consumers buy the products they want, all onchain. In addition we incentivize the brands and customers by rewarding them with seasonal airdrops directly to their wallets, working towards the goal of onboarding the masses onchain. HeirDrops is at the forefront of this shift, targeting users who will add real value by purchasing everyday products online.
How it's made
Challenges we ran into The biggest challenge or hurdle we faced was building out our first version in it's entirety within the short window. Although the idea was conceived in ealy June, we've been unsuccessful in fully building out the backend and functionality of the platform. With the many hours needed to put into R&D, strategizing, logistics, tests, etc it made it challenging. However, we focused on fully building out the brand, the front end, look and feel of the platform to start onboarding brands. Since we started to reach out we realized how much demand there is for this and how many well polished, packaged and fantasting products built by amazing web3 teams and founders really need this. We're still testing and building out the backend and have a step-by-step plan for execution.