The Stripto Solution
A uniquely designed, revolutionary NFT Marketplace, that integrates a dynamic pricing protocol with the potential to entirely revolutionize the traditional mechanism of buying and selling NFTs.
Let's change the way we buy and sell NFTs!
Stripto solves the major flaws of the conventional auction mechanism. A regular market auction is usually designed to benefit only the seller with the mechanism that increases the asset's value as the interest in the asset increases. This conventional mechanism does not favor the buyer as the price of the asset increases.
The proposed unique pricing mechanism benefits both the seller and the buyer by reducing the asset value (not increasing) for the buyer with the “Positive Stripping Pricing Mechanism”, along with the chances of increasing the sale price of the asset by “Negative Stripping Pricing Mechanism”. Thus, giving the seller a higher amount sold and the buyer with a lower purchase amount.
On Stripto, NFTs are listed with not one but two buying options. A regular 'Listed price' and a 'Hidden price'.
- 1.User can buy an NFT at its listed price using ETH/BNB (the conventional way). Or-
- 2.User can spend Stripto's native token to unveil the hidden price for 15 sec. The token enables users to exclusively unlock the “guaranteed lowest price” of any NFT product listed.
Every product is listed with two buying options. A regular listed price (at right) and the hidden price (at left)
Every time user spends STRIP tokens to unlock the hidden price (a.k.a. Strip the price), the price of the product drops by 1%. That means when a user spends a STRIP token to unlock the ‘hidden price’ the user not just unlocks the hidden price but also brings the product's price down. So why does the price drop? To understand this, let’s take an example:
NFT Listed Price: $1000
STRIP token market price: $1
Required token per Stripping action: 1% of the listed price (i.e., STRIP tokens worth $10)
If a user decides to go for the 'Strip the price' model and spends STRIP tokens worth $10, it will unlock the hidden price for 15 seconds exclusively for that user.
Since the user has spent $10 worth of STRIP tokens, the price of the product will drop by equivalent value, i.e., $10 and the visible price for that user would be $990 (i.e., $1000-$10 = $990).
If the user decides not to buy the product at the shown price, can let the window close. However, once the 15 seconds countdown is over, the price will be locked again. The user needs to spend additional STRIP tokens worth $10 to unlock it again. It is to be noted that, this time the price will be further dropped to $980 (i.e., $1000-($10+$10) = $980).
Every stripping action unlocks the price for 15 seconds.
Now imagine 10 users participating in the 'stripping process' at the same time. The price will drop by 10% in that 15 sec-window, for all ten users. The catch here is, all these ten users will see the price of $900 and the quickest decision maker can initiate the transaction in those 15 seconds. Once the transaction is completed, the quickest decision maker gets the NFT at a 10% discount.
The more users spend STRIP tokens on a particular NFT, lower the price goes. The beauty is, it's not a lottery. In fact, every user has a fair chance to buy the product within the 15-second window. This brilliantly designed mechanism rules out the possibility of gambling and unfairness!
Stripto has a huge potential since 'Strip the price' protocol is powered by its native token, thereby creating the demand for the STRIP token in the market, and hence the price of the STRIP token should go #UpOnly.