Wapal — Our Vision for a Trustless and Inclusive NFT launchpad
Hey Guys,
Happy to announce that we’re finally going to Aptos Mainnet. Building Wapal for the past few months have been an unexpected and crazy journey. Through this blog, we would like to share our vision for Wapal.
Our vision for Wapal is to build a trustless and inclusive NFT launchpad for everyone.
Trustless — We want to create a platform that both creators and users can trust. We’re already implementing that by open-sourcing our codes. We’ll implement more algorithms and features in the future that will make Wapal, a completely trustless NFT launchpad.
Inclusive — We want the platform to be inclusive for everyone. That is, every creator will have equal opportunity to get into the launchpad, to be featured on the homepage, and have equal access to all resources developed by Wapal.
It all started with Mokshya after we decided to write and open source the smart contract for NFT random mint because at that point there was a lot of hype for NFTs in Aptos but creators found it difficult to launch NFT collections because
- NFT launchpads were charging crazy fees.
- NFT launchpads were determining rules for NFT collections (mint price, supply, mint date), and NFT collections had little control over their own collection.
- Not every NFT Collection would get into launchpads (1/50 or 1/100 NFT collections get into launchpads)
- Launching NFT Collections on your own website is costly.
These aren’t just problems in the Aptos ecosystem. These are existing problems in every blockchain ecosystem.
Gas Fees And Scalability Matter
All we have been hearing lately in the crypto and blockchain space is what kind of solution is required to onboard the next 1 billion users? The answer is simple. We need to build scalable solutions that are fast and don’t cost a lot to use. That’s why we believe Gas Fees and Scalability Matter.
Ethereum ecosystem is awesome. NFTs in the Ethereum Ecosystem are great but for a newcomer buying an NFT is a painful process because of the gas fees.
If we’re aiming for 1 billion people to use blockchain then we’re expecting people from all sorts of demography and background to participate. If we want a school kid to buy an NFT and participate in blockchain, even if it’s a free mint that costs $10 in gas fees it might not be feasible for most of them to mint the NFT. It’s the same for most working-class people. They won’t participate until and unless gas fees are affordable.
With Wapal, powered by Aptos, we aim to build a scalable NFT launchpad where thousands of people can mint NFTs in less than a cent (if possible) at a single time.
Giving Creators The Ownership
At Wapal, we aim to give creators full ownership of the NFT collection. We only want to become a platform where you can launch. As for the rest, creators are the owners of everything. They set the mint price, supply, and mint dates, and they get the mint funds directly in their wallet in real-time, without escrows, we don’t hold your mint funds.
The Ball Is In User’s Court (DYOR)
DYOR (Do Your Own Research) is one of the most common phrases you’ll hear on crypto. As a user, you shouldn’t trust anyone while making a buying decision. Don’t trust influencers, don’t trust project owners, don’t trust the media. Trust yourself and make decisions based on your judgment.
At Wapal, we don’t endorse any projects, we don’t decide which one is a good project or not. We let the users decide on that.
These are just some of the hypotheses in which our vision is based. We’re just beginning and we still have a lot to accomplish. We know we’ll make mistakes but we’re determined to correct those and do whatever it takes to make Wapal trustless and inclusive.
The journey has begun. Happy to announce again that we are into Aptos mainnet.
