Dripto is setting itself up for an explosive entrance on the sneaker resale market, taking on the likes of industry giants StockX and GOAT. Dripto – a play on the words ‘drip’ and ‘crypto’ – is a sneaker resale platform built entirely on blockchain technology, where streetwear is bought and sold exclusively with cryptocurrency, making it the first of its kind. The project has taken the crypto, e-commerce, and streetwear scene by storm due to its innovative business model and expansive rewards system, powered by its native token $DRYP, which opens for public trading on March 23rd.
While the platform undergoes its final stages of development, several utilities will be available upon IDO, including a weekly lottery where buyers of at least 1000 $DRYP are automatically eligible for a chance to win free prizes, such as plane tickets, artwork, gaming consoles, and apparel. Drip Grails, an exclusive shop within the larger platform, will also be available and updated on a weekly basis. Here, top-tier holders have access to luxury goods and sneakers for below-market value, and sometimes for free.
What’s Next?
Staking
Dripto offers two staking mechanisms for its users, detailed in the following excerpt from the FAQ section of their website:
Liquidity Pool
All token holders are eligible for staking benefits through the first method. This allows users to stake $DRYP into a liquidity pool, which allows our token to be traded with consistency. In return, Dripto pays out participants in $DRYP at an extremely high APR. The awarded $DRYP can be traded immediately upon receipt or re-invested into the liquidity pool. By continuously re-investing $DRYP rewards, users increase their principal balance, resulting in larger payouts.
Listing Items
After successfully completing 1 sale on the platform, users are automatically enrolled into the second category of staking benefits: getting paid for simply listing shoes. To show our appreciation for active platform users, we’ve implemented an innovative protocol that assigns a generic (non-value) NFT for every shoe listed on Dripto, which is automatically staked on behalf of the seller. Once the shoe is sold, the NFT is unstaked.
NFTs
Dripto is preparing to release a line of 8000 NFT’s on the Ethereum blockchain, designed by renowned artists within the Drinetwork. Owning an NFT elevates a user to the highest echelon of the Dripto ecosystem – the crème de la crème. Members of the Drip Club, as they call it, has immediate access to the Drip Grails shop, the Drip or Drown insider chat with direct communication to other NFT holders as well as the core team, exclusive tokenized rewards, and an all-expenses paid trip to an annual event hosted at distinguished venues across the globe; where industry powerhouses in fashion, crypto, art, music, and creatives from all disciplines will socialize and collaborate.
Join the Dripto community on Telegram – https://t.me/+yDzLvaypUWFmYzcx
