Everything begins with an idea.
Origin’s team kicked off the new year with Innovation Week: a 5-day hackathon where our entire team created new, innovative products that have the potential to be integrated into Origin Story and Origin Dollar.
In the span of just 5 days, Origin’s team developed 15 new prototypes for unique products that could benefit both Origin’s community and the crypto industry as a whole. Below are the top 6 prototypes that emerged from Origin’s innovation week.
As a reminder, these products are still prototypes, and we don’t recommend visiting these sites until/if they become publicly available. If you find any products below particularly interesting, we encourage your feedback in our Discord!
NFT analytics are often siloed, making it hard for investors to see the full picture before making a decision to buy an NFT. Beyond simple volume and price metrics, NFT statistics are few and far between. We’re excited to launch our NFT Compare Tool––the first product of innovation week slated for public access.
The NFT Compare Tool shows average volume, price, and sales statistics for two NFT collections side by side. This allows collectors to easily compare key metrics between collections and make informed decisions before purchasing digital assets. One of the most unique metrics featured on the NFT Compare Tool is holder overlap, showing how many users hold assets between two collections. Holder overlap proved useful to predict future mint distributions, such as Yuga Labs’ Sewer Passes that were distributed to users based on the assets they hold.
Brought to light after the launch of LooksRare, NFT wash trading now accounts for over half of all NFT volume. Unfortunately, NFT marketplaces don’t filter out data pertaining to wash traded tokens. This transaction data can be deceiving––most NFT trading history is made up of illegitimate transactions, causing certain NFTs to appear more popular than they really are.
Rinse aims to bring clarity to collectors in regards to wash traded NFTs. The analytics platform gives an overview of aggregate NFT wash trading, pulling on-chain data across all top NFT marketplaces. The Rinse dashboard shows the cumulative number of suspicious transactions, percentage of suspicious trades, total ETH volume from washed NFTs, and the percentage of total NFT volume that is attributed to wash trading.
Arguably even more interesting, Rinse.io allows users to view specific NFTs and collections. This is helpful for identifying whether or not a specific NFT has been wash traded, allowing collectors to distinguish between real and illegitimate token sales.
FairTix was created in response to the inefficiencies currently plaguing the entertainment industry. Evidenced by Taylor Swift’s latest tour, value is extracted out of artists’ fan bases by ticket scalpers, pricing out true fans from attending the most sought after concerts.
The platform is a community ecosystem and next-generation ticketing system. The dapp lets artists host lotteries or auction off NFT tickets, allowing for a more fair distribution of tickets than what’s currently offered by legacy ticketing companies. Moreover, FairTix solves the problem of bot usage by using KYC-style verification to ensure tickets are sold to real users.
Using web3 for ticket sales offers up the opportunity for artists and fans to mutually benefit. Artists could now receive secondary royalties from ticket resellers, or they could eliminate reselling altogether through the use of soulbound tokens. Buyers can rest assured knowing that their tickets are indeed legit.
Ella is the bank that pays your subscriptions. The prototype was built by Andra, Origin Dollar’s Head of Business Development. Ahead of development, Andra researched the need for high-yield, accessible savings products, oriented towards women looking to take control of their finances. She found that over 8 million women make over $100,000 per year, yet most of this group is earning less than 1% APY on their savings.
Out of those surveyed, the median amount held in savings accounts is $10,000. Those with $10,000 in savings could earn ~$400 per year through OUSD––enough to cover most users’ subscriptions. With fiat onramps, layer 2 support, and account abstraction on Ella’s roadmap, the startup aims to be an accessible entry point to crypto for new users who may be unfamiliar with the technology.
Ella seeks to make the benefit of high yield easy to understand and accessible to everyone. The bank aims to earn yield through OUSD, and it uses Treasury Bonds as a safety net in case Origin Dollar Yields dip below these yields. As OUSD earns interest, the bank would automatically pay for users’ subscriptions. In order to cover these costs, Ella would require a minimum balance which is variable dependent on one’s subscription expenses.
Stolen.fyi is “Literally the worst dapp.”
This may be the prototype that NFT degens and Yolo traders find the most interesting. Stolen.fyi is a simple game, innovating on NFT dynamics to create the world’s most fun, decentralized Ponzi scheme. Users can mint NFTs representing their favorite Twitter accounts, but there’s no guarantee that their NFTs won’t get stolen…
But don’t worry, if it gets stolen, you’ll end up making a profit. Stolen.fyi is the ultimate non-compliant, up-only degen money game. Initial Twitter handles are free to mint––wouldn’t you like to own Elon’s, POTUS, or Vitalik’s Twitter handle? Choose wisely, as you’ll only be able to hold three usernames at a time.
Anyone can steal a minted NFT for 0.01 ETH. Afterwards, users can steal the NFT for twice what the last user paid for it. This makes the game “up-only,” but be sure not to be the greater fool! You can’t sell your NFT for a loss, and it’s not possible to list these assets on other marketplaces. You’re stuck with your assets until someone, dumber than yourself, steals them from you. Want your NFT back? You’ll have to buy it.
OUSD Win is for degens with a charitable side.
The dapp lets users stake their OUSD in a no-loss lottery. As the pool accrues interest from OUSD yields, the potential winnings grow larger. Two lucky winners will split the funds in the rewards pool, with the remaining half of the accrued interest being donated to a nonprofit each week. The winnings in the pool are a function of the time between lottery drawings, the total value locked in the pool, and Origin Dollar’s annual percentage yield.
Unlucky users will get their OUSD back with no loss of capital, or keep it staked for next week's drawing!
We welcome your feedback! While these products are certainly interesting––and potentially useful––we’re still deciding whether or not to add these products to Origin’s roadmap. If you find these innovations particularly useful, let us know on Twitter or on our Discord!
If you’re interested in learning more about recent updates our incredible engineers have made to Origin Dollar and Origin Story, check out some of our most recent announcements below:
