The Future of Allow List Marketplaces
With the speed at which good ideas are imitated in Web3, few people realize that Noundles actually invented the concept of an Allow List Marketplace. Now — they’re everywhere! But back in early November, it was a completely unproven idea.
Just days after launching, Noundles announced a partnership with RatDAO to make 100 whitelist (aka “allow list”) spots available for their mint, which could be claimed only with $RAINBOWS, our project token. Few projects even had tokens at this time, let alone ways to spend them. This was truly innovative.
Recently, we’ve been seeing people pop into our Discord asking us when we plan to introduce our own Allow List Marketplace. The funny thing is we’ve had one ever since, granting users pre-mint access to amazing projects like CB Creepz, Loveless City, Clay Friends, Zooverse Gen 2 and many more. What they were really asking is “Why can’t I just buy a spot on the Allow List.” You see, since those early days, our primary engagement mode was raffles, not purchases.
Innovation had leapfrogged us. Until this morning.
Introducing Allow List Dutch Auctions!
Today, Noundles continued innovating on the Allow List Marketplace by introducing Dutch auctions for Allow List access to Arcade Inc. Dutch auctions combines the best of aspects of both raffles & purchases by allowing the marketplace to maximize token collection (by starting the raffle price high) and customer satisfaction (by allowing users to “buy now”).
This technique was part of another first, a two-pronged buy/win strategy, which pairs an Allow List Dutch auction with an Allow List raffle, establishing a high purchase price that can drive FOMO, increasing raffle entries.
We plan to continue innovating on this strategy in the coming weeks to find the optimal mix to benefit both our users and the project. 🌈
