Litemint is a multifaceted crypto wallet that provides a platform for distributing and running apps and games while removing the middleman from the monetization process hence facilitating frictionless, trustless and instant micro-transactions—preserving the direct link between creators and users.
As more value is moving to the crypto space, wallets are becoming multidimensional services in a similar fashion to messenger apps with the rise of online communication. And, with cryptocurrencies bringing the properties and texture of cash to online payments, we can combine these opportunities to right the online app and game publishing business at once.
We can now build app publishing platforms that do not act as central payment hubs, that facilitate peer-to-peer micro-transactions and provide an audience to creators but do not sit in the middle, collecting payments.
Read the full case study here.
Litemint wants to remain neutral in the crypto-economy so the platform does not issue its own crypto token, third-parties are free to use any.
Litemint is developed around that idea of a multifaceted, non-custodial, open source and multi-asset Stellar wallet which provides a platform for distributing and running apps, games and content created by third-party developers while disengaging from the payment equation.
The shopping experience leverages the Stellar DEX and path payments to provide cross-currency and almost-instant in-app and blockchain-based asset purchases to any integrated game and app.
A demo video of the latest platform feature can be seen here: Stellar blockchain-based tradable items available in Litemint with cross-currency payments
Distributing and publishing are non-trivial, time-consuming activities. Adding a "buy" button to a website does not bring an audience to the content, let alone provide any mechanism to retain the audience. And even with an audience, publishing an instant game on an isolated website is greatly limiting the chances of monetizing the content successfully through micro-transactions—there is an element of trust that is hard to build in transient services.
If not passing deals with online publishing networks to tap into their loyal users, instrumented and retentive network, the app and game developer may rely on Steam, Google Play, App Store and other mainstream platforms to have a chance to reach an audience and benefit from monetization models and payment services that users trust. But again, it means accepting immutable contracts, custodial payment accounts and in many occasions, as these platforms engage in content syndication, grant of some of your intellectual property rights (sub-licensing...).
Non-custody along with decentralized payments and platform neutrality are core criteria to help setting up a fairer platform for monetizing content with online micro-transactions.
By ensuring that users own their keys and control their funds, we solve these problems altogether. The platform removes itself from the role of being a central payment hub and does not need contracts for syndicating the content—the link is direct, from creator to user.
Another important point of the Litemint business model is that it does not require content creators to buy any specific currency (like Enjin, Libra...). Both users and sellers can choose their listing and buying currencies.
Litemint does not take a cut on transactions, payments are peer to peer.
Litemint comes as a non-custodial, anonymous Stellar wallet with DEX trading. Apps and games can be launched and run from within the wallet on both mobile and desktop platforms (on iOS they are executed on an external window but this will be fixed in upcoming releases).
The client wallet is open-source and cross-platform, available on Google Play, App Store, Linux, Windows, Mac. It can also be launched as a web app on desktop browsers (tested in Chrome, Safari, Firefox, Opera and Edge).
Strong emphasis has been put on the UX, mobile-first and ease-of-use.
- 24-word mnemonic (BIP39, SLIP10, SEP05).
- Comprehensive access to the Stellar DEX and trading of any asset pairs.
- Multi languages (English, French, German, Russian, Korean, Chinese and Greek, more to come).
- Seamless deposits from partner anchors.
- Federated addresses to send and receive money, also used as gamer ID for universal syncs.
- Multi account managements.
In term of integration, developers can use as little as the Gamer ID (implemented via the Stellar federation protocol) to provide universal sync of user’s data to their app or implement a full-fledge blockchain-based economy with tradable collectibles. It is their choice.
Developers handle player’s data on their server and redeem player accounts upon payment confirmation on the blockchain. This may be favored by smaller games with lower retention, or in case games already have a set infrastructure and do not want to introduce existing players to a new process flow (trustlines). Currently used in pie.ai multiplayer game for coins.
Developers issue tokens for consumables (e.g. gold, skins), players must add their respective trustlines. These items are tradable on the Stellar DEX. This may work well for bigger games which have higher retention and content.
Developers can initially handle items using traditional IAP and issue them to the players upon (optional) trustline setup for a more streamlined experience and prevent leaving players at the door.
Litemint revenue is generated from 2 streams:
- Advertising. Litemint takes either the pre-roll or final interstitial on any app, game and content launched on the platform as well as other strategic placements. Users will have the option to remove advertising.
- Own intellectual property (IP) and exclusive products. Currently, the store is being booted, prototyped and POC using IP content imported from my own game business (a catalogue of 9 games) which will be extended in the future. Two games, litemint.io and an exclusive CCG (Collectible Card Game) are in the making and will be added to the platform as exclusive Litemint content.
Goals and Timeframe:
Litemint is currently running several apps and games as proof-of-concept and use-case to adequately develop the API and foster the community. Initially, the focus will stay strong on content from the gaming vertical due to existing connections to this industry. Several game studios are interested to jump in when Litemint opens to external third-parties.
SCF funds would all be contributed to help fulfill these goals.
Litemint global mission and goal is to provide relevant products to bind cryptocurrencies to real-world utility by connecting a breadth of digital content, app, games and services to crypto users and contributing to crypto adoption.
The short-term (completion by Q2 2020):
- Finalizing the development of the API for onboarding third-party apps.
- Implementing public messaging (trade channels) to advertise and auction tradable collectibles.
- Strengthening the server infrastructure and validators.
The long-term (ongoing):
- Developing more original content and/or intellectual property (litemint.io, CCG game).
- Onboarding content through partnership with studios and indie developers to grow the platform.
- Growing an official core team from the current one-man show.