ProductMint
March 1, 2025
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Decentralized automated crypto subscription platform that tokenizes products and subscriptions as tradable Real World Assets (RWAs) on-chain, enabling instant, low-cost global payments without Web2 dependencies.
The problem
There is no full service no-code platform for businesses to tokenize their products/subscriptions with automated payments and recurring revenue streams. The main competitor in the space, Stripe, requires extensive KYC and subjects users to centralized control. We aim to solve these problems while providing a developer experience that is expected from a modern payment processor.
Traction
Initially we did extremely well integrating with our other project HYSTEAKS. We processed over 10k in TPV through that business alone since the launch before the underlying blockchain was eventually sunset. We also secured a partnership with one of the most notable NFT projects of all time, CyberKongz, powering their subscriptions for their Discord channels.
What went well
Development of the complex smart contract system went extremely well. Since we first started with Stripe, we learned the ins and outs of exactly what was needed so we were able to build a solution that worked perfectly for us including one-time, flat-rate, tiered, and usage based billing models. Deployment to both Base chain and Mainnet went off without a hitch.
Miss calculation
After seeing the success with the system in our project HYSTEAKS and getting the CyberKongz partnership we thought we were really onto something big here. However, after a few months of applying to various accelerators and talking with other founders, our initial thesis may have been flawed. Web2 businesses want credit cards and fiat, profitable Web3 businesses have their own custom revenue models and often view recurring subscription models as legacy solutions.