Grant Proposal - MysticSwap | NFT Swapping platform

Description
MysticSwap is a platform for NFT swapping. Want to trade a BAYC for another BAYC with a different trait + 2 ETH? MysticSwap is how you do it. The platform allows users to securely swap, buy and sell NFTs.

We have spent the last year building the platform and the first stage of the project: a free mint NFT collection that gives holders no fees on the platform. We are now nearing preparing for our soft launch in January, and need some funds to help us in our go-to-market. This present post formalizes a request for a grant to MetaCartel, is hopes that you will support our buidling quest.

Manifesto/Vision

Mission: Empowering a safe and connected community

MysticSwap’s mission is to give all NFT holders in the space a safe and positive experience when trading NFTs, one that also empowers them to connect with their peers and expand their network. We want to help people grow, together.

Problem

We are not leveraging NFT ownership to its full potential. This is manifested in several ways:

  • Currently, holders have no way to “return” an NFT that lacks a certain trait.
  • Holders cannot leverage their existing NFTs to move into different positions.
  • As scams run amok, it’s clear that swapping NFTs in the community is currently neither safe nor user-friendly.

Solution

A platform for securely swapping any combination of NFTs and tokens. The platform enables users to:

  • Safely swap their NFTs for others that they desire, with different traits;
  • Leverage their NFTs to unlock more trades, all while avoiding marketplace fees on NFT value %;
  • Make more connections via swaps and grow their network accordingly.

Product

MysticSwap enables users to swap NFTs by their contract addresses, choose verified projects only and trade at easy, knowing they can trust that they are not getting scammed (currently a “stigma” with swaps). They just have to:

  • Select what they want to offer
  • Select what they want to request, be it tokens and/or NFTs. These requests will be done via from verified projects, contract addresses or user wallet addresses, to maximize security and convenience.
  • Share the swap in the platform and to whoever they want to complete it.

After launch and consolidation, the next steps will be to turn the platform from a peer-to-peer platform to a marketplace, where users can bid on asset combinations with other combinations of assets, essentially creating a place where users can swap “anything”.

Validation
We have not launched yet. However, we have had a peak of 10k members on our Discord and 25k+ followers on Twitter after our free mint. These numbers have dwindled since, as we have taken a step back to finish the platform and excitement has reduced. Also, bear market. However, these are still clear indications of interest and belief in what we are building. Also, our free NFT collection sold out in under 12 hours.

Worth noting that there are other competitors in the space with thousands of monthly NFT swaps. If we can execute on our vision, we can definitely make an impact and gain traction.

Progress

  • (Done) Create an NFT collection (the Mystical Wizard Guild NFT), to build community and create a future, parallel income stream.
  • (Done) Build MVP that enables users to sell one NFT for ERC-20 tokens.
  • (WIP) Launch first marketable version, that enables swaps of all combinations of assets. Launching in January 2023.

Differentiation

  • Whereas all swap platforms are currrently peer-to-peer, Mysticswap will be the first swap marketplace of its kind.

  • Our focus on security and making sure scams are very unlikely to happen will set us apart from more open and dangerous “indie” products.

  • Business model - by charging a fixed fee instead of a percentage of NFT value, we’ll be significantly more cost-effective than mainstream marketplaces.

Team

  • Joao Moreira (Kelmat) - Founder. Former web2 founder and current SaaS General Manager turned web3 founder.
  • Ilya - Advisor. Has been in web3 for a long time and advised several projects over time.
  • Bananaxtrapro - Partnerships Manager.
  • SaoQ - Partnerships Manager.
  • Progress - Software Engineer.

The above are the project’s core contributors, but there are more people on the team - a marketing manager, two more software engineers, community mods and alpha callers. Since they are recent hires / not a part of the core team yet, they have not been included in this writeup.

Grant Request $

We are requesting a 10,000 USD grant to help us in our go-to-market. This would really give us a huge push in this pivotal moment. Money will go to:

  • Hiring an additional partnerships manager;
  • Small marketing budget to spend on nano influencers;
  • Small buffer to strenghten project’s wallet, so the added burn doesn’t compromise our sustainability.

Additional Resources
Discord: MysticSwap
Twitter: https://twitter.com/MysticSwap
Roadmap: Roadmap - MysticSwap
Whitepaper: https://docs.mysticswap.io/
Website (stealth): https://mysticswap.io

Our intentions are pure and we really believe we are building something that will add value to the space. I hope you’ll consider us!

Hey thanks for writing up this proposal, we are not funding things like this at the moment. Please see the following threads to see the kind of things we are presently funding: