NiftyCrates

Screenshots

Problem Statement

Loot boxes and other microtransaction mechanics have grown increasingly popular in the last several years, paralleling both the growth of the free-to-play market as well as rising development costs across the video game industry. In this project we will explore how to create a decentralized utility token that allows users to construct, advertise and profit from building their own NFT loot boxes. We believe this will provide NFT holders liquidity for large quantities of low-value tokens produced by inflationary game economies and combine the best of games and marketplaces for players to enjoy. We hope to use this contract to prototype a unique experience that is fun for seasoned pros and new comers alike. Today, with a few exceptions, most forms of loot boxes remain legal and unregulated worldwide and we wish to keep it that way.

Solution

Big idea: Extending ERC-721 to build a composable token, create a fair, decentralized loot box mechanismFeatures:Crate owners can configure the price to open or buy the crate. They can also control the odds of drawing each item in the crateThe crate uses a 2 phase commit process to protect against possible frontrunning attacksThe logic to open the crate is easily upgradable and customizableTech:Built for Ethereum. Frontend / backend built with typescript using Next js, React, Webpack. Smart contracts implemented in Solidity and managed with Truffle. Using Drizzle to interface between client and contracts. Material UI, TailwindCSS and Framer.JS to implement the UI.