Web3 Payment Case Study — DuelistKing’s NFT Game Card Sale
Web3 case study context: DuelistKing has successfully completed its second round of NFT card sales on December 15. All of 20,000 available magic boxes were sold out within hours. Since DePay’s Web3 Payment Protocol was used as the exclusive payment solution, we would like to give you some brief statistics about the sale from our perspective.
Total routed sales volume: $138'600 USD
63'000 DKT ($138'600 USD) have been routed as means of payment during DuelistKing’s second card sales round.
DK took the approach of selling its cards in exchange for $DKT (its own utility token).
Buyers were able to pay with any token in their wallet, as the DePay Payment Protocol converts any detected & available token in real time to the asset defined by the recipient (in this case, DKT tokens received by the DuelistKing team). We refer to this unique & decentralized way of Crypto Payments with the term “on-the-fly conversion” or “any-to-any conversion” in further sense.
The numbers: Which tokens did buyers choose as a means of payment?
NFT card sale participants used the DePay Payment widget to pay with the following tokens:
- 29.25 BNB (value: $15'786 USD)
- 5226.93 BUSD (value: $5'226 USD)
- 494.00 USDT (value: $494 USD)
- 63.24 DAI (value: $63 USD)
- 1.3 CAKE (value: $16 USD)
These tokens were automatically routed to $DKT, which was the chosen asset to be received by the DuelistKing team.
Payment Token Insights
- It is interesting to see that despite the current market volatility, a large proportion of buyers continue to hold BNB tokens available for payment.
- Native tokens (such as BNB on the Binance Smart Chain or ETH on the Ethereum Network) are usually the cheapest payment option with DePay. One of the reasons is that other tokens need to be swapped in multiple steps first.
- The second most common type of token chosen as means of payment was stable coins. We expect this observation to be the general standard in the future, as we believe that holding and paying with stable coins gives people a greater sense of security, especially in volatile market conditions.
Key Case Study Takeaways
Using DePay’s Web3 Payment widget enabled DuelistKing fans to purchase their desired NFT game cards with any token in their wallet. At the same time, it helped DuelistKing to receive their desired asset (DKT token) in realtime due to DePay’s DeFi-based on-the-fly conversion.
This feature is so obvious and useful, but yet it was only invented and made available to the Web3 world by DePay about a year ago.
Soon DePay will support all popular networks, so interoperability between blockchains will no longer be something that requires a lot of time or knowledge in the context of crypto payments.
Maybe you realize: Giving your buyers the ability to pay with (literally) any token while receiving a specific token on your website can dramatically increase your conversion rate.
We hope you enjoyed this case study!
👋 Feel free to contact us if you have specific ideas for further Web3 related case studies or insights that we could generate for our audience!