[Proposal] Easy NFT Minting on Comdex Via Dropspace

Comdex Discussion
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This document proposes the idea of a grant to cover the costs of bringing Dropspace (https://www.dropspace.art/) into the Comdex ecosystem. This MIP outlines our thoughts, but we are happy for this to be a two-way dialogue. Any thoughts or ideas, feel free to suggest and we can continue the discussion. The idea would be to transform the NFT ecosystem on Comdex by introducing our easy no-code minting solution which removes all barriers - both technical and financial - and allows users to launch collections on their own websites with their own smart contracts on their own websites at no cost to the creator.

BACKGROUND

We’re all part of a team called The DeFi Network! We’ve been BUIDLing in the space together since 2021.

We’ve proven that this model works and have launched a number of high quality brands and project including Jarritos, a big soda brand in the US and Mexico, and Women and Weapons which was endorsed and minted on our platform by Gary Vaynerchuk.

We’ve seen a range of applications including brand communities, pfp projects, ebooks, memberships, ecommerce items and now we want to expand that even more to gaming and beyond.

In total we’ve done more than $10,000,000 USD in sales via our platform.

OBJECTIVE

Dropspace is a free solution for creating digital collectibles of all types. It’s a no-code NFT minting platform and toolkit designed to simplify the NFT creation process for artists, creators, brands and enthusiasts. It offers an intuitive interface for minting NFTs, adding metadata, and integrating NFT sales into websites.

Our objective would be to play a large role in building up the NFT ecosystem.

In many ecosystems, the current meta is to launch NFT projects using launchpads.

But minting through launchpads has a number of downsides:

  • The tech is clunky
  • You don’t own the smart contract
  • You’re forced to launch on their platform
  • You need to give up a percentage of your sale
  • It’s a super rudimentary solution that is not a replacement for hiring a dev - it’s only good for minting one-off NFTs and not doing a blind mint like all popular collections

But all the hottest NFT projects and brands want to own their branding and not disrupt the user flow.

We intend to help bring this ability to projects on Comdex and in turn attract higher quality projects and creators.

TEAM

Blake Miner
Director of Operations
Dropspace

Our team:

Blake Miner
Director of Operations
Linkedin: [in comments due to limits]

Mihir Wadekar
Co-Founder and Developer
Linkedin: [in comments due to limits]

Chaitenya Gupta
Co-Founder and Developer
Linkedin: [in comments due to limits]

Liki Crus
Head of Development
Linkedin: [in comments due to limits]

FINAL WORDS

We appreciate the consideration of the community. Any questions or clarifications, just ask us! We’ll be active in the comments.

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Blake Miner
Director of Operations
Linkedin: https://www.linkedin.com/in/blakesminer/

Mihir Wadekar
Co-Founder and Developer
Linkedin: Mihir Wadekar - Witness | LinkedIn

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Chaitenya Gupta
Co-Founder and Developer
Linkedin: Chaitenya Gupta - OtoCo | LinkedIn

Liki Crus
Head of Development
Linkedin: https://www.linkedin.com/in/liki-crus-3121ba25

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My first and foremost question; did you research Comdex and the plans Comdex has?
Because your proposal clearly shows that you didn’t do that and are just proposing an idea to get a grant (and maybe not even deliver at all) with a product which has literally nearly zero added value to the plans of Comdex at this point in time.

1 Like
5

I’m sorry if this feels misplaced, but we were of the understanding that it did complement the plans of the ecosystem. It’s just meant to be a discussion and if there is no need then no worries at all. We have a number of requests from ecosystems to bring our solution over and have become a critical piece of infra in the NFT ecosytems of multiple chains.

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So, if you have that opinion I would expect to also see an explanation of the added value of Dropspace to Comdex.

Since that is missing I invite you to come up with an extensive write-up on how NFTs will add value to the purpose of Comdex as a project.

7

Sounds good. We have been exploring an evolution to an RWA platform based on interest from other chains that deal in fractionalized tokens so we saw the potential for various of use-case examples. We can do a write–up to present the info to the community, even if it doesn’t make sense with us - perhaps some future applications can be considered.

We’ll drop that here when ready.

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An Exploration of How NFTs Could Add Value to the Comdex Ecosystem

We realize Comdex’s focus is largely on DeFi and synthetic assets, but we wanted to share a few thoughts related to conversations we’ve had with other chains who have overlapping features and interests. Our hope is that this can at least open up a discussion and brainstorm around how NFTs could synergistically add value to the ecosystem (whether now or in the future).

We’ll start sharing some high level ideas for how NFTs could fit into the Comdex ecosystem, and we welcome comments from other members of the community.

Some applications that other chains are currently exploring:

a) Collateralized NFTs: On Comdex, NFTs that represent RWAs could serve as collateral for loans on Harbor Protocol, helping unlock liquidity for NFT holders and expanding asset utilization.

b) Synthetic assets tied to NFTs: Synthetic assets tied to the value of NFT collections (or even individual NFTs) could give users new trading and investment opportunities on Comdex and allow them to gain exposure to the NFT market without needing to own the actual underlying assets.

c) Fractionalized NFTs: Premium art, NFTs, and other types of assets and collectibles could be fractionalized to allow democratized access, then traded on cSwap. This would result in new liquidity and investment options for ecosystem participants.

d) NFT-Backed Insurance: New insurance products for DeFi and synthetic asset risks could be developed that use NFTs as proof of ownership end coverage. All users in the Comdex ecosystem would then have new layers of protection and risk mitigation when participating in trading activities. (Note: This is a specific novel use case we’ve seen one other particular chain implementing on their testnet and would require the development of a separate dApp or platform).

e) Cross-chain NFT bridges: Once a more thriving NFT ecosystem was established on-chain, Comdex’s interoperability could be leveraged to expand liquidity to other chains within the Cosmos. (Note: would require the development of a simple bridging platform).

These are just some specific ideas to get the conversation flowing. But we thought it was worth to mention some other potential applications and benefits that NFTs would bring:

-NFTs could be used to bolster participation in the Comdex community by creating membership tokens, POAPs, access passes for events, specialized content, or other features

-NFTs could be created to represent voting rights or decision-making power within the DAO

-Comdex could launch their own commemorative or free NFT to reward ecosystem participants and double as a marketing tool for attracting new users (this also ties into the next point)

-NFTs could be used almost like gamified rewards or incentives for governance participation or liquidity provision

Dropspace is a platform that allows for the simple creation of these assets, so our added value to the ecosystem would be a free way to deploy collections without the need for code, no matter which type of NFT use cases the community saw fit. Our tooling can be embedded on any website, so other Dapps can also integrate it as part of their solution.

We thought it was at least worth sharing our vision of how NFTs could help add value to Comdex and create a more engaging and innovative DeFi ecosystem.

1 Like
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Did you also already check out the ICS-721 standard?

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We have done some digging and we envision no issues with integrating the ICS-721 standard.

P.S. This thread went live today from our parent company Twitter in case anyone in the group wants to support:

https://x.com/TheDeFiNetwork/status/1831120241704710636

11

You do know that some of the things mentioned in the thread are meant to be discontinued?
And that Comdex is working on joining ICS?

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Awefully silent here…

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Sorry we dropped off! We did not realize those things, but good to be caught up in that regard.

We’re happy to be involved as we need to be in helping create an NFT ecosystem.