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DropShop: A Drop Lottery Built on the Blockchain

Drop = Release of highly limited quantity products with very strong demand meant to sell quickly.

Verified randomness allows for blockchains to fairly select winning participants in probability-driven events between decentralized parties. Blockchain-based lossless lotteries are an example of this capability and offer numerous advantages over traditional lotteries around transparency and accessibility. Most notably, they eliminate risk, as a winner’s rewards are generated through DeFi protocols and Yield Farming, rather than as a claim on the other participants' stakes; non-winners get their stake back.

DropShop proposes to use this same principle towards limited release product drops. These drops have existed for many years in the form of event tickets, but most recently they have been popularized by apparel and even technology companies for physical goods, such as Sneakers, Bags, and gaming systems. Currently, these drops are dominated by rent-seeking middlemen using bots and other methods to capture as much of the product as they can for resale. As such, we seek to democratize these drops using a decentralized lottery where product supporters can increase their odds through brand interaction, promotion and community building.