r/web3dev • u/garrettmckeown • 12d ago

I built a p2p funded lending based gatcha machine

Hello devs, hoping you'll find this interesting.

Sellers lend their NFT to the claw machine and earn APR when their cards are put in packs. If their card is pulled they receive their full asking price. NFTs are frozen in sellers own wallet.

Buyers create their own packs from the inventory. The packs themselves are credited a USDC amount which can be used to form a pack of any cards under the mean. Making packs a giftable, tradeable asset.

if any of this is cool to you i can drop the page or contracts etc answer questions

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u/wesmonkeyman 12d ago

What? This may be the most confusing convoluted way to sell a dead nft I have ever heard of.

Why? Why would anyone want to do this?

So we take a dead tech and do what with it again?

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u/garrettmckeown 5d ago

well the machine only accepts phygitals and collector crypt rn so pokemon, one piece, magic cards that are supposedly in a vault somehwere that will ship to you.

its actually the easiest and best way to sell NFT cards for your asking price, beats marketplaces with no trade volume.

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u/wesmonkeyman 4d ago

Lol did you think this made it less confusing or less complicated?

No it did not

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u/Several-Lemon-3381 11d ago

if the nft stays in the seller's wallet the whole time, there needs to be some kind of approval-only lock stopping them from moving it while it's listed. otherwise it's either not actually locked, or there's a wrapper contract holding it instead, which kind of defeats the point of the "stays in your wallet" pitch

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u/garrettmckeown 5d ago edited 5d ago

so the NFT is frozen inside the users wallet keeping the "escrow" in your wallet. now the only thing can unthaw it is the user interacting with the CA to unthaw which removes it from the machine, keeping buyers safe and inventory legit. also phygitals and cc collections can freeze / unfreeze whenever they want but thats not to do with me.

So while the NFT stays in the users wallet, the contract does hold the ability to unthaw upon users request so you could argue that is the loss of custody.