Fanztar – Web3 Platform for creator economy
A first-of-its-kind web3 platform enabling celebrities and content creators to build fan communities.
Situation
Fanztar is a unique entity in the entertainment industry, offering a Web3 platform built on blockchain technology where celebrities and content creators can build and interact with their fan communities. The platform is designed to enable fans to share in the success of their favorite creators by investing in Non-fungible Tokens (NFTs) that represent the creators’ work. While Fanztar had already established a backend rule engine, they were struggling with developing a user-friendly frontend experience. Their existing platform lacked an efficient purchasing experience, transaction tracking capabilities, and widely accepted payment methods. These deficiencies hindered Fanztar’s scalability, limiting the number of fans they could connect to their platform and decreasing the effectiveness of their token-reward system
Approach
Our development team at Incentius began their approach with a comprehensive week-long workshop aimed at understanding the nuances of the client’s existing blockchain system. This was a critical first step because it allowed us to gain a deeper understanding of Fanztar’s operational model and the challenges they were facing. Our engineers, with their extensive knowledge of blockchain technology, were quickly able to grasp the intricacies of Fanztar’s system and identify areas for improvement. Parallel to this, our team carried out extensive research on various web3 platforms, studying their strengths and weaknesses to identify best practices and pitfalls to avoid. This exploration stage was crucial, not just for understanding the landscape of web3 platforms but also for gathering insights on user experiences, transaction processes, reward distribution, and payment methods. With these insights, we set about designing a fully functional inventory system to manage and keep track of all the available and newly published NFTs. The goal was to streamline transactions and facilitate a more efficient rewarding process. To further enhance the control over inventory and reward distribution, an admin gateway was constructed. This gateway provided the administrators with a dedicated panel to track, manage, and maintain the distribution of rewards. The final part of our approach was focused on improving the user experience and engagement. This was achieved by developing custom payment gateways flows that allowed buyers to use common payment methods such as UPI, and debit/credit cards. We understood that the success of the platform relied heavily on the ease of use and familiarity of the payment process. So, we prioritized integrating popular payment methods into the platform’s wallet
Outcomes
The improvements implemented by Incentius were instrumental in enhancing Fanztar’s go-to-market strategy. Despite initial challenges, we successfully developed and deployed the updated platform within just two months, preventing any delay in Fanztar’s launch. As a result, Fanztar became the first platform in India’s creator economy to offer an easy, safe, and user-friendly way for fans to purchase NFTs using their preferred payment methods. This achievement has solidified the partnership between Incentius and Fanztar. Moving forward, Incentius will be a strategic partner for Fanztar, tasked with developing a marketplace for fans to trade the NFTs they have purchased. The success of this project underscores our ability to deliver cutting-edge solutions in the burgeoning field of blockchain technology, particularly in the realm of Web3 platforms and NFTs.