insrt
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Overview

An overview of the Insrt Protocol and application
Insrt is an onchain game where users can win high-value prizes from their creators, brands and communities. Users play Insrt and win prizes that have been created by other users. A good analogy for Insrt is a self-service lootbox engine where users can win any of the value listed on the platform in real-time.
Every single time users don't win the main prize, they get $MINT tokens. Our $MINT token mechanics ensure that users are always winning and winning together with their friends.
Our objective with this protocol is to create a fun way for users to win value without a trading experience or create value for others to win by turning the mindshare that they already possess into speculative onchain value.
Currently - only our desktop alpha for the demand (player side) is live. A mobile progressive web application will be launched in January 2024.

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What are we solving?

  • Every single token and product in crypto is financialized minshare. Any form of speculative value onchain is effectively a prediction market on the amount of attention that something is going to get
  • There are users who can capture attention, but so far they have to either act as affiliates for a product or a token, or act within the binding of constraints of a product to monetize that mindshare
  • At the same time, there is a large segment of users onchain who are not necessarily interested in a trading-driven user experience for a chance to win that speculative value

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How do we solve this?

Insrt allows users to create prizes or value for others users to win. Users can win those prizes through a fun, variance-based game. Prize creators can monetize flow and attention towards prize into either fees and engagement. Players can win prizes that are exclusive, expensive or otherwise unobtainable.
Our focus is on building a dApp-layer user experience that is fun, fast and high-performance. At the same time, even if the underlying mechanics of the game are inspired by betting mechanics, we are transforming those incentives and directing them to pay-offs that are not purely financial in nature.

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What kind of opportunities?

Insrt can support any type of prize. What users win on the application is a claim to a prize. Think of it as an IOU. The IOU can wrap around any form of tangible or intangible value, because the IOU is a promise from the person or community listing that value to the winner. Prizes may have one or a limited amount of winners.
They may range from an expensive piece of digital art, a bundle of altcoins to a chance to be one a podcast with someone you admire from Twitter.

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Can I see what other people are doing?

Absolutely, head to our telegram chat to:
  • Talk to other users who are minting the same thing
  • See who is minting what
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  • How much $MINT you are generating when someone else plays
In the future, our feed and social features shall be integrated within the application itself, with the Telegram space becoming a pure community space.

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How do the payouts work?

You can dive into the Minter Reward Model for some more information. On a very basic level, in most cases, you aren't going to get the main prize. However, you still maintain reasonably positive expected value through the $MINT mechanism. The $MINT mechanism provides an opportunity for value accrual by rewarding users for all platform activity, while providing an exit valve through free mint attempts or swapping out to ETH.

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How can I create something?

For the time being, only the demand-side is in open beta. Users will be able to create opportunities or prizes at a later time. The prize can be an asset, an opportunity or even a behavior on part of the creator to the benefit of the winner. Our plan is to allow people to create prizes for all types of different value - be it onchain assets or something of social value.
We're still learning on what exactly creators need to have in terms of tooling, but we will let everyone know when they can start creating and depositing stuff on Insrt.

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How does the mechanism work?

The mechanism in inspired by real-time probabilistic auctions theory and NFT collection mints. We use a random number generated to provider outcomes to players. Two types of variance exist with every single play attempt - the chance to win the prize and the chance to win an X number of $MINT. One can think of the prize as a "legendary" PFP and all the tiers below that as representing different forms of rarity of $MINT dispersal.