me and a colleague are thinking about an idea using the Flow blockchain and NFT’s. We currently have a few questions on how to solve some problems most efficiently and in the most user friendly way. As a part of our app, the user should be able to buy collectible items (NFT’s) on a marketplace from other users, just like in NBA Top Shot or KittyItems etc. Now, as far as I know, it’s currently not easy to directly offer fiat payments, as dapper is not yet available outside of NBA Top Shot (Fiat Payments). So we thought about two possible ways we can implement the payments:
Use Flow Token with Blocto/Ledger Wallets. Users will have to create a wallet, buy Flow Tokens and use these in the app to buy items. This has the advantage that we do not have to implement own payment systems as a third party does this for us. On the other hand, users would have to create another account and do additional steps until purchase.
Implement our own fungible token. We could create our own fungible token on Flow that users can simply buy from us to a fixed rate (like an ingame currency). We are the only ones minting new tokens and selling them. The tokens can be traded back to fiat money with us as well. These tokens are then used to buy NFT’s in our app. This option would have the advantage that users do not need to leave our app to make payments. The disadvantage is that we have to implement our own payment systems. Also, we asked ourselves if we are allowed to sell fungible tokens to users? When we are the only ones selling the tokens, this would be kind of counter-intuitive as this would be very “centralized” again. When implementing these tokens, would we be able to prevent users to trade these tokens among themselves?
What do you guys think is the better option in general? Did we miss any advatages and disadvantages, or misunderstood some concepts? Is there maybe another option that we oversee here?
Thank you very much in advance!