Transforming My AI-Driven SaaS Into an NFT Minter: My Journey
Written on
Chapter 1: The Motivation Behind My Project
In 2022, many aspired to create their own applications and products. However, only a few actually managed to bring their concepts to life. Among those who did, far too many abandoned their projects prematurely, failing to consistently introduce new features or grow their audience.
Section 1.1: The Allure of NFTs
So, why is there such a buzz around NFTs? The answer is simple: money. Incorporating trendy terms like crypto, blockchain, and NFT into your product descriptions can significantly boost visibility and attract followers. Yet, this comes with a catch.
Imagine you’re developing a game that requires substantial funding and resources, but your budget falls short. In an attempt to tap into the thriving crypto market, you decide to introduce NFTs to generate interest and potentially fund your project through platforms like Kickstarter.
Section 1.2: The Disconnect with Players
This approach may seem appealing until you realize you've attracted investors primarily focused on profit rather than enjoying the game itself. NFT-based games and applications tend to draw in investors rather than genuine users who appreciate the utility your software offers.
Another factor driving the promotion of crypto-related projects is the financial incentive. For instance, projects like HapeBeast, which minted at $600 each out of 8192 NFTs, skyrocketed to a floor price of 9.1 ETH on OpenSea, creating a marketing bonanza for specialists. At that valuation, the project was estimated at around $193.8 million—a staggering figure for a collection of digital apes.
Chapter 2: My NFT Implementation Strategy
Section 2.1: A Learning Opportunity
Despite my reservations about the current NFT landscape—where many offerings lack tangible utility and often resemble scams—I'm choosing to incorporate them into my SaaS, GenIdea. My primary aim isn't profit but rather to deepen my understanding of blockchain development, which I plan to leverage for my Master’s thesis.
I launched GenIdea as a platform for generating app ideas and suggesting tech stacks across various domains, from blockchain and AI to fitness and education. While the full version is still in development, I envision a space where users can save their favorite ideas, although I recognize that ideas themselves cannot be patented.
Section 2.2: The Technical Landscape
When considering NFT integration, the main players are Ethereum and Solana, although I believe Elrond deserves recognition as well. While Ethereum's gas fees can surpass minting costs during peak times, Solana has faced issues with downtime and decentralization. This has led me to contemplate bridging various chains, allowing for both wallet and OAuth authentication methods.
Section 2.3: Future Features and Goals
My primary objectives for upcoming updates include:
- User Authentication (via GitHub, Google OAuth, and Wallets)
- Saving Favorite Ideas
- Minting Ideas to Secure Ownership
- Viewing Ideas from Other Users (if shared)
- A Ranking System with Badges
As I navigate the complexities of Ethereum and Elrond, I hope to provide more tech-focused tutorials and coding insights that can benefit the community.
I appreciate you following my development journey as I integrate NFTs into my SaaS. Stay tuned for more updates on my progress!
For more insightful content, check out PlainEnglish.io. Sign up for our free newsletter, and connect with us on Twitter and LinkedIn.