NFT Credit Card & Cross-Chain Payments

[GENERAL] Name and surname of main applicant

Jess Qin

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Rodri Fernandez Touza

Alfonso Gomez Jordana Manas

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Crossmint will create a suite of tools for developers to create a checkout experience where consumers can buy Cardano NFTs with credit cards and cross-chain tokens (SOL, ETH, MATIC and more). 

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No depedencies

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

Not open source but will be made available to everyone.

[METADATA] Horizons

Developer Tools

[SOLUTION] Please describe your proposed solution

Millions of people have been brought on chain through owning and using NFTs. It is one of the important standards for representing digital ownership and creating utility on the blockchain. However, it is still extremely difficult for consumers to obtain their first NFT and for developers to create infrastructure that makes NFTs more accessible for the masses. 

In order for developers to create a fully streamlined experience for NFT buyers, it requires piecing together multiple pieces of infrastructure across payment acceptance, fraud detection, blockchain indexing, RPC providers and more. 

Crossmint will create a solution where consumers can buy NFTs on Cardano using a familiar checkout flow (vs. the current experience of creating a wallet, going through days of KYC with an on-ramp provider and eventually buying ADA before they can purchase an NFT). Crossmint’s platform will also provide developers with a set of easy-to-use SDKs that can be integrated within minutes and will allow them to receive payouts from NFT sales instantaneously.

Crossmint’s Cardano checkout will empower developers to get to market faster by: 

• Enabling purchases of NFTs on secondary marketplaces
• Allowing purchase of NFTs with credit and debit cards
• Bridging liquidity from 15+ chains to Cardano NFTs (incl. Solana, Ethereum, Arbitrum, Optimism, Base, Aptos, Zora and more)
• Supporting 16 languages and 10 currencies in the checkout front-end

Crossmint’s Cardano NFT Checkout will also provide varying degrees of customization so that developers can create an experience that caters to their needs. Crossmint’s checkout will be made available through: 

• Embedded 
• Hosted
• Headless checkout 

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Creating tools that allow developers to easily create and sell NFTs on-chain and consumers to easily buy NFTs is critical to starting a flywheel effect of NFT adoption on Cardano, which in effect will bring more liquidity, use cases and utility to the community.

Crossmint has a demonstrated track record of making NFTs more accessible for the masses. Crossmin’t checkout has been battle tested across numerous NFT platforms and chains including Tensor, Magic Eden, Manifold and x2y2. We have demonstrated significantly stronger performance and overall experience with: 

• Instantaneous payment for NFT sellers / developers 
• Full geographic coverage (support payments in 197 countries)
• 95-98% approval rate (compared to 55% industry benchmark)
• No buyer KYC
• Chargeback protection for the seller
• Advanced AML monitoring 

We work not only with a very broad range of clients that are native to web3, but also with large-scale enterprises that allow us to have a broad range of access. Integrating with Crossmint will also give our entire growing client list the opportunity to build on Cardano with greater ease.

The integration would open the door to building more functionality for clients in the Cardano ecosystem. Currently, Crossmint has built integrations to buy NFTs seamlessly in a checkout experience using all sorts of fiat and crypto payment methods. Building the Cardano integration can open the door to building this integration for all players in the Cardano ecosystem as well, which is a need in the ecosystem that is not yet widely available.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Crossmint has a team of seasoned blockchain engineers that have deployed similar projects across 15+ chains (incl. Solana, Ethereum, Arbitrum, Optimism, Base, Aptos, Zora and more) which has been well received by developers and consumers alike. 

With a strong track record of building integrations for other ecosystems, Crossmint is the best player to build this out quickly and at a world-class level.

The Crossmint team has a broad range of experience starting and building organizations in the technology space. Our team consists of alumni from Coinbase, Meta, Google, McKinsey, Wells Fargo, Plaid and Goldman Sachs.

Crossmint is trusted by over 30,000 enterprises and developers including Fortune 500 and major companies like Mastercard, Microsoft, Etihad Airways, Red Bull, Adidas, Asus, and more. Crossmint is SOC II certified.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1 

Ability to buy NFTs with debit and credit cards on secondary marketplaces using hosted checkout. 

Acceptance criteria: live production environment where a customer can purchase an NFT with their debit or credit card, 

Evidence of milestone completion: live URL to the Crossmint Pay Button in production

Milestone 2 

Ability to display the checkout in multiple languages and currencies. 

Acceptance criteria: live production environment where local language and local currency is displayed in the checkout UI depending on the user’s IP location. 

Evidence of milestone completion: live URL to the Crossmint Pay Button in production

Milestone 3

Ability to customize the payment button in accordance with the theme of the checkout webpage. 

Acceptance criteria: live production environment with customized styling. 

Evidence of milestone completion: loom video demo of changing the color and text of the payment button UI

Milestone 4

Ability to buy NFTs with cross-chain tokens (SOL, MATIC, ETH on Ethereum Mainnet, ETH on Arbitrum One, ETH on Arbitrum Nova, ETH on Base, ETH on OP, ETH on Zora). 

Acceptance criteria: live production environment where a customer can purchase an NFT with token / chain combinations specified above. 

Evidence of milestone completion: live URL to the Crossmint Pay Button in production

Milestone 5

Ability to buy NFTs with Apple Pay and Google Pay. 

Acceptance criteria: live production environment where a customer can purchase an NFT using Apple Pay and Google Pay. 

Evidence of milestone completion: live URL to the Crossmint Pay Button in production

Milestone 6

Video demonstrating all of the prior milestones combined together in a live environment.

[RESOURCES] Who is in the project team and what are their roles?

Co-CEO Rodri - https://www.linkedin.com/in/rodrifernandez/

Co-CEO Alfonso - https://www.linkedin.com/in/alfongj/

Head of Ops and Finance - https://www.linkedin.com/in/jess-qin-649a9172/

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Developer (front end) - 500 hours

Developer (treasury, onramp and financial infrastructure) - 500 hours

Developer (Cardano developer) - 200 hours

Designer - 100 hours

QA - 75 hours

Project management - 200 hours

Marketing - 25 hours

Finance - 100 hours

Multiplied by average blended market rate of ~$100 per hour comes to ~500 ADA at current valuation of $0.35

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

All estimates for the project are conservative estimates based on Crossmint's historical experience with integrating with 15+ chains.

It represents immense value to the Cardano community as the most frictionless payment solution will unlock significantly greater liquidity, use cases and utility.

This will lead to more commerce on the Cardano chain, and enable a broad range of large-scale enterprises to build on Cardano with greater ease.