• Needs To Exist
  • Posts
  • Idea Of The Day - This One Is For Those Crypto Lovers

Idea Of The Day - This One Is For Those Crypto Lovers

Author

Needs To Exist
December 31, 2024

GM. This is Needs to Exist (aka NTE), delivering daily startup ideas that’ll get you engaging with those crypto gamblers.

In case you aren’t into crypto ideas, sign up for the NTE Pro database of over 1k startup ideas fully categorized and searchable - Sign Up Here

And don’t forget: every idea in this newsletter is yours for the taking. Go ahead, steal shamelessly—and make us proud while you’re at it!

Here’s what we’ve got for you today.

  • Daily Idea - Trade, compete, and win seamlessly on Solana

  • 2024 Startup Winners - Leading to your Inspiration

A Competitive Crypto Trading Game

The Hook
What if crypto trading wasn’t just about flipping coins and hoping for the best? What if it was a game—where you could outsmart rivals, dominate leaderboards, and cash out with a fat pot of winnings?

The Idea
Here’s the blueprint:

  1. Entry Stakes: Players join competitions by paying entry fees ranging from $1 to $5,000.

  2. Trading Periods: Choose your battleground—day, week, month, or quarter.

  3. Goal: Maximize your wallet’s value by the end of the timeframe.

  4. Payout: Winner takes the pot (entry fees + trading gains), minus a 5% platform fee.

Why It’s Different

Meme coins like $PEPE, $FARTCOIN (Yes, this has >$1BN Market Cap), and daily token drops on Pump.fun have redefined crypto trading as part gambling, part strategy, and part pure vibes. This platform taps into that culture:

  • Daily Tokens: Introduce new tokens each day, just like Pump.fun, but with competitive trading built in.

  • Meme-Worthy Moments: Add features like “Moon Shots” for traders who hit massive gains on a single token, amplifying the fun and FOMO.

  • Fast-Paced Action: The meme coin frenzy is perfect for short-duration competitions.

The Blockchain Magic

  • Escrow Wallet: When players join a competition, their entry fees are sent to a smart contract escrow wallet on Solana. This ensures funds are securely held and tamper-proof until the game ends.

  • On-Chain Tracking: Every trade players make is logged on-chain, ensuring full transparency. The platform reads live wallet balances via Solana’s APIs, updating leaderboards in real time.

  • Automatic Settlement: At the end of the competition, the smart contract calculates the winner and automatically distributes the pot. This eliminates any manual handling, ensuring trust and efficiency.

Blockchain isn’t just a gimmick here—it’s the referee. No disputes, no shady business, just code doing what it does best: keeping things fair.

How to Build It

  1. Foundation: Use Solana’s low-latency blockchain for real-time tracking and low-cost transactions. Build the core functionality with Rust and Anchor for smart contracts.

  2. Frontend: Create a slick React-based UI for players to connect wallets, join competitions, and track leaderboards. Integrate Phantom or other Solana-compatible wallets for user authentication.

  3. Backend: Use Solana’s blockchain APIs to fetch wallet balances, validate trades, and update scores dynamically. Pair this with a centralized system for leaderboard tracking and push notifications.

  4. Security: Implement audits for smart contracts and ensure robust wallet authentication. Double down on DDoS protection and anti-cheating mechanisms.

Go-to-Market Strategy (GTM)

  1. Target Audience:

    • Crypto Enthusiasts: People already active in trading and DeFi.

    • Casual Traders: Newcomers attracted by the gamified format.

    • Gamers: Esports lovers who enjoy competition and rewards.

  2. Launch Plan:

    • Beta Access: Offer early access to 1,000 users. Give them free tokens to join mock competitions and iron out bugs while generating hype.

    • Content Marketing: Create shareable content—videos, tutorials, and blog posts about the competitive trading experience.

    • Influencer Partnerships: Partner with crypto YouTubers, Twitch streamers, and Solana advocates to spread the word.

  3. Monetization Strategy:

    • 5% fee on every pot provides recurring revenue.

    • Future premium features like enhanced analytics, private competitions, or boosted rewards for top players.

  4. Community Building:

    • Launch a Discord server for player discussions, strategy sharing, and exclusive event announcements.

    • Incentivize referrals with entry fee discounts or free tournament tokens.

  5. Regulatory Checks:

    • Ensure compliance with relevant laws and regulations, especially for gaming, trading, and crypto asset management.

    • Hire a legal expert or partner with a blockchain-focused compliance firm to navigate licensing, KYC/AML requirements, and regional restrictions.

Why You Should Build This

The memecoin explosion and platforms like Pump.fun have shown that traders want more than just gains—they want a story, a flex, and a good laugh along the way. This platform combines the thrill of trading with the competitiveness of gaming, and the meme-worthy chaos of daily token drops.

This isn’t just a trading game. It’s a cultural movement for the crypto generation. If you’re ready to build the next big thing, the time is now. Let’s pump… and maybe even dump!

Needs To Exist Pro

Unlock the Ultimate Startup Idea Repository

  • 1,000+ Startup Concepts and Counting: Gain access to an ever-growing database of innovative business ideas.

  • Effortlessly Searchable and Categorized: Find the perfect idea quickly with our easy-to-use search and categorization features.

  • Handpicked from Hundreds of Reputable Sources: Benefit from ideas curated from a vast array of trusted sources.

  • Comprehensive Action Plans Included: Get detailed steps to help you take action and bring your chosen idea to life.

Startups of 2024 That May Help You

Here’s a look at some 2024 startups that secured early funding, found quick success, and might just have the tools to help you kickstart your own venture. BTW, not advertisements.

  • What They Do: Thatch makes healthcare benefits suck less. They help startups offer killer healthcare plans without drowning in paperwork or wasting cash.

  • Founders: Chris Ellis and Adam Stevenson. These guys are on a mission to fix the broken system of healthcare payments.

  • Funding: Raised $38M in Series A from Index Ventures and General Catalyst.

  • How They Can Help You: If you’re running a startup, Thatch makes it easy to give your team great benefits, so you can hire like Google without spending like them.

  • What They Do: Together is the fastest cloud platform for generative AI. Think AWS, but turbocharged for building AI apps.

  • Founders: Chief Executive Officer Vipul Ved Prakash founded it in June 2022, together with co-founders Ce Zhang, Percy Liang and Chris Re. Prakash was previously the founder of the social media search company Topsy Labs Inc., and later joined Apple Inc. an acquisition in 2013.

  • Funding: Pulled in $106M in Series A, led by Salesforce Ventures, giving it a $1.2B valuation.

  • How They Can Help You: If you’re cooking up an AI-powered startup, Together gives you the horsepower to build and scale without the hassle.

One More Meme