Round 11
Winner
Instamint
by

Instamint is a B2B token mgmt and settlement API, dashboard & visual asset designer built for enterprises and enterprise use cases

Budget request:  
$50,000
*
WebsiteCode

Project Stage

Research

Category

Micro & B2B Payments
Tools

Based in

New York and Vietnam

Team size

5

Active since

2017
Products & Services

Instamint is an enterprise (think: companies and organizations) platform for designing, templating, minting, managing, auctioning, staking, fractionalizing and trading digital business assets with each other in a B2B fashion (like minting and settling a corporate invoice) via APIs. It is for B2B tokens what Stripe is for payments.


Instamint makes it easier, less costly and less risky for enterprises to deploy tokenized enterprise applications. In addition, Instamint allows non-technical business users to visually design new types of assets, bifurcating the technical details of token design from the business design.


More information can be found at https://docs.instamint.com.

No items found.
Previous Project(s)
No items found.
Progress so far
Goals
  • Goal 1: Train 4 developers on Stellar platform and smart contracts and Rust basic. Duration: 6-8 weeks
  • Goal 2: Update Meta API to tokenize non-fungible tokens w/ Designer-based assets on Stellar and create at least one,  asset template (i.e. NFT), metadata to IPFS. Duration: 2 Months
To get there, we  will use our requested budget of  
$50,000
*
  to:
  1. Assemble the dev team (mostly completed, we purchased a dev team in Vietnam with 80 devs) of 5 - 90% Complete
  2. Train devs to build Stellar Dapps
  3. Retrofit Meta API to mint and manage tokens on Stellar


In the future (not within scope of this project)

  1. Retrofit Disburse API to allow for fractionalization, royalty payments and auction engine for Stellar assets
  2. Identify best-of-breed Stellar DeFi app and integrate Yield API for Instamint-minted tokens (best effort)
  3. Settle token trades in Lumens, where client allows, supplementing settlement in USD and USDC
  4. Update to GraphQL schema and Tableau access to token data
Overview

Revenue Model

Instamint is a B2B SaaS API. Every API call is metered using ops, a means to track API consumption. Ops are then purchased by enterprise clients and consumption of ops deplete op balances. Gas fees, if they exist, are deducted as well. Instamint 3 APIs are each a service and the combination of a flat monthly flee and ops will be source of revenues. Additional source of revenues include access to Instamint data via GraphQL, Tableau or Websockets, but this has not fully been determined at this time.


Keeping Burn Rates Low

We have acquired a Vietnamese development team of 80. This gives us a unique advantage. This step has allowed us to acquire talent at much lower cost and thus produce more product per dollar spent.


Proof of Concepts with Enterprise

We are exploring proof-of-concepts using Instamint with 3 large enterprises in the telecom and media space.


Funding

The project is funded by the founder. We plan on raising funds in the future once an enterprise client is secure and we are in production with a large use case.


Competition

Currently, there is no solution providing what Instamint is. Most competitors APIs are focused on NFTs and art and no one is allowing new asset types to be created visually. Our API focuses on the enterprise because we have over 30 years of enterprise experience and Instamint provides a robust set of tools in addition to the APIs that continues to drive the value proposition for client enterprises.


Relationship with Stellar

We have a healthy relationship with a number of groups and individuals with Stellar and will be partners on other fronts including CBDCs and development outsourcing. We are committed partners to Stellar.


Marketing and Sales

We are able to reach users via a number of fronts, but the most important is via our access to community, especially in New York City and Boston, arguably the financial hubs of the world. This is possible because we run the large blockchain community in NYC (see https://meetup.com/blockchainNYC) and through our community work we will be able to promote Instamint at the right time. In addition, we will hire in enterprise sales people with books of businesses to help drive Instamint into the enterprise and make tokenization of digital assets more prevalent in the coming years.

No items found.

Team

Jamiel Sheikh

Founder

jamiel#9218

https://linkedin.com/in/jamiel