The problem onNFT solves

The project builds a flow allowing users to sign-in using web2 Social Accounts or Web3 EOAs, get access to their own smart contract wallets, and be able to buy NFTs or other web3 assets using credit cards.

Features

1. No wallet required for SignUp

   • onNFT helps you access all the capabilities of Web3, directly through your Social Logins using Web3Auth
   • Removes the requirement to create a Metamask Wallet, or remembering 12-word Seed Phrases
   • A Safe wallet is created under the hood, that allows users to initiate and execute transactions

2. Buy directly Through your Credit Cards with stripe fiat to crypto onramp

   • The need to understand Cryptocurrencies before buying an NFT is gone now
   • You can simply buy an NFT directly through your Credit Cards, implemented using the stripe fiat to crypto onramp
   • Your credit card transactions are secured by Stripe, making the entire flow seemless

3. Gas Fees - Not found

   • No need to understand the concepts of Gas Fees or Approvals on Web3
   • We bear The transaction fees (or the gas fees) of your NFT minting using Gelato's relay and 1balance.

4. Reduced Barrier for Entry

   • The website requires no need of an additional application for any functionality
   • Makes it easy to access it from all devices.

Extended scope:

• After this POC, the aim is to abstract it into a wrapper, thus providing a AA solution with onramp support, so that dApps can direcly plug it to support SCWs, gasless or gas-abstracted payments, token-independent gas payments, and credit card payments for web3 asset purchases.
• Further, using a SCW opens up the possibility of adding safegaurds and asset control and leveraging paymasters.

Challenges I ran into

• The first challenge was to understand the concept of AA and EIP4337, with intricacies like relay, paymaster etc.
• After deciding to use safe SCW out of the box, the challenge was to understand and implement relaying and gas abstraction
• Integrating stripe's onramp was an issue due to compliance rules and country support.