From Scam to Smart: How Selfient’s SEA Wizard is Revolutionizing Web3 Business Deals
The title alone probably has you a bit confused, right?
Perhaps you’re wondering, “How can Selfient actually assist me in avoiding scams?
That will all be explained, but first, let’s walk through a common scenario in the Web3 space.
Shall we walk?
POV: You are a NFT project founder and your project just minted out, amazing!
You’re bursting with joy and eager to provide value back to your dedicated community. You decide to build a web3 game that is only accessible to members of your community who own your NFT.
To incentivize gameplay, you decide that players who stake their NFTs while playing the game will earn extra tokens as rewards.
Great, now you know what you want to do. ✅
Unfortunately, there is a problem… you have no coding or development skills…
Naturally, you seek out Twitter to ask if anyone knows a developer who could handle this type of project.
The responses are overwhelming; a lot of people want to work with your project! You sort through the list of responses and pick a developer to work with. You go back and fourth negotiating a price and eventually settle on a cost of $150,000 to bring your vision to life.
Now, this is where things get interesting.
The developer wants half of the cost of the build upfront. They seem trustworthy so you decide to send $75,000 USDC to their wallet. 😬
You reach out for confirmation to see if they’ve received the payment, but you get no response back. Absolutely nothing. 😳
You notice that they have blocked you on Twitter and are not answering their emails. 😨
You realize you have been scammed. 😰
You’re now down $75,000, and it’s an absolute nightmare. 😓
Believe it or not, these stories happen more often than you think.
That’s why we’re aiming to limit the need for trust when it comes to business deals and transactions between parties.
Here’s how we are going to do it:
We’ve developed a protocol to manage business deals between parties called the Smart Employment Agreement (SEA) Wizard.
The SEA Wizard enables both parties to transform their business deals into smart contracts that automatically manage the release of funds and transfer them to the correct party once predefined conditions have been fulfilled.
So now, you can dictate the rules of the contract to determine the amount of funds that will be sent to the person you hired at the particular stage you desire or when a condition has been met.
“Yea, that’s great and all, but I don’t know how to create a smart contract? I’m not a developer.”
Well, good news for you.
Creating a SEA doesn’t require any coding skills or knowledge. Selfient is a 100% no-code solution!
Meaning, you can create, execute, and deploy a SEA on-chain using Selfient’s template Wizard.
Did we mention creating a SEA only takes a couple of minutes? Here’s the process:
1) Come to an agreement with the person you choose to hire.
2) Connect your wallet and fill out the terms of the SEA. This includes the scope of the deal, milestones, and any deliverables.
3) Fund the contract and store the money via on-chain escrow, sign the contract, and send the SEA to the person you wish to hire.
4) They will connect their wallet, review the terms, and accept the deal.
5) After they sign and complete the deal, it becomes live and the SEA will be deployed on chain.
Yes, it’s that easy.
We are almost nearing launch, and more information will be dropping soon. If you wish to follow along or ask us any questions, feel free to join our Discord Server, follow us on Twitter, or check out our Website.
If you want to be first in line to create a SEA on Selfient, please complete our Beta Application Form.