Photo - Flima.io
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Flima.io

A DeFi platform that provides NFT-Fi for blockchain game NFT

Vietnam
Market: Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 03.07.2022
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Idea

Flima is a multi-chain platform that aims to provide all blockchain game players liquidity, safety and efficiency for game NFT trading and in-game items trading, which will give users richer strategy to earn from blockchain games.

Current Status

We're having an MVP on Figma and a prototype in progress. We'll launch our core features of P2P lending and P2P trading on BSC Testnet in Q3/2022.

Market

Blockchain game players are our end users. We divide blockchain games into 3 tiers:
* Tier 1 (7%): 1,000,000 players
* Tier 2 (20%): 100,000 players
* Tier 3 (73%): 10,000 players
So the average number of game players is 97,300.
If 5% of players become our users, the average number of users from a game will be 4860.
We plan to integrate with 30 blockchain games per year, on average.

Problem or Opportunity

Because of the different nature, NFT-Fi solutions for general collectible NFTs don't work with game NFTs. As the number of blockchain games increases, the problems repeat, such as:
* Low liquidity
* Loss from price fluctuation
* Poor market UI
* Too much manual work.

Solution (product or service)

Flima designs the core solutions to help game players to earn flexibly and reduce the risk:
* Market with more liquidity and better usability
* Passive income in multiple ways
* Hedging NFTs
Hence, here are our planned features:
Phase 1:
* P2P Lending: Borrow in-game currency using game NFT as collateral.
* P2P Trading: Trade NFTs and rare ERC20 items of blockchain games with better UI.
Phase 2:
* Fractionalized NFT: Small budget investment in game NFT
* Affiliate Program: Earn by sending traffic
* Rental Pool: Deposit your NFT and let others rent to earn.

Competitors

Currently, there are multiple NFT-Fi services for general collectible NFTs, but no service is specifically designed for game NFTs:
1. Rental
* Double Protocol
* reNFT
* Rentable
2. Fractionalized NFT
* Nftfy
* Fractional.art
3. Lending
* Nftfi
* Drops
* Nexo
* DeFrag.fi
* Kyoko.finance
4. Marketplace
* TokenTrove

Advantages or differentiators

One of the uniquenesses of Flima is to provide some of the above DeFi features between your in-game NFTs and the in-game currency while most of DeFi platforms target major currencies. For example, you can borrow AXS using your Axie NFT as collateral. As game NFT is priced in the in-game currency, this is useful.
Another uniqueness is that we are Community-Driven. We believe players of each game should be the ones who make decisions related to the game. We will employ game-by-game governance based on voting by tokens.

Finance

Our revenue sources come from transaction fee:
* P2P Lending: 5% of interest of a successful loan (on lender) & 0.5% of loan amount (on borrower)
* P2P Trading: 2.5% transaction fee
* Fractionalized NFT: fixed service fee of $0.5 per transaction
In the next 5 years, we target to achieve a 4.5M annual revenue.
Projection & token unlock schedules are available upon request.

Business model

We have two ERC20 tokens for our platform. $FLIMA and $tFLIMA.
$FLIMA is the governance token, available to be traded on Pancakeswap, and is used to stake to earn $tFLIMA.
Game players can use $tFLIMA to buy tickets to ask our team to integrate the game.
We scale by integrating with more blockchain games and focusing on the popular blockchain games.

Money will be spent on

$500K for:
* Recruitment (1-2 blockchain dev & 1-2 community manager)
* Developing prototype
* Building community & preparing for IDO
* Launching functional product on mainnet.
We expect to hit all the milestones in 9 months.

Offer for investor

We can discuss this in the process of negotiations.

Team or Management

Risks

One of our planned features, Rental Pool, is based on EIP-4907 (rental NFT) - a proposal for scholarship. It is not yet applied by any blockchain game at the moment, so the feature might not be feasible in time.

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A

Photos

Photo 1 - A DeFi platform that provides NFT-Fi for blockchain game NFT
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
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Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
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