Introduction

As we cross the 1-year anniversary of Droppp Marketplace, we’re thrilled to see the rapid adoption, and we thank the entire community for the continued support. Today we want to share two important updates which will affect how you transact on Droppp Marketplace and what's in store for Droppp Arcade.

What’s changing with Droppp Marketplace?

The first major update, happening in mid-December, is that Droppp Marketplace will move to a new wallet infrastructure for holding the USDC used to buy and sell items. To clarify, this does not affect the underlying blockchain (WAX) that holds our digital collectibles: only the payment method on Droppp Marketplace.

This new infrastructure is fundamentally different from what we use today because the funds in your wallet will be 100% controlled by you, not by Droppp. This contrasts with our current solution, where funds in your Droppp Balance are held by our third-party wallet provider, Circle.

Wait, who’s Circle?

Circle is the issuer of USDC, the currency used on the Droppp Marketplace. In addition to issuing USDC, Circle has historically offered related services, including the wallet service we used on the Droppp Marketplace. We initially chose Circle because their service offered a streamlined, easy-to-use interface, while also satisfying the necessary legal and regulatory requirements.

Okay, but why the sudden change?

We were recently informed by Circle that they will be shutting down the above-mentioned service. Finding a suitable replacement for Circle became critical, and unfortunately this means we have to delay the release of Droppp Arcade to keep the marketplace running. More on Arcade below.

So what’s the plan?

To minimize disruption when using Droppp Marketplace, we evaluated other companies with services similar to Circle. Each had its strengths and weaknesses, but none met all of our required criteria. So, we chose a different approach by integrating Droppp Marketplace with wallets on the Solana blockchain. The key difference is that wallets with this solution are 100% under your control (aka “self-custody”). This solution will still use USDC and your NFTs will remain on the WAX blockchain.

How does this affect me?

Self-custody wallets allow you to stay in full control of your funds, and allows us to stay within current legal/regulatory boundaries without relying on a third-party company.

The key difference you'll notice with your new wallet is the need to approve transactions when interacting with your USDC, whether purchasing on Droppp Marketplace or withdrawing funds. We've implemented tools to streamline this process, but it will take a few extra clicks to complete your collection compared to what you're used to. Stick with us – we're actively developing features to make this experience smoother.

A welcome change is that this opens the marketplace to more buyers and sellers because we can now support customers from the previously restricted states of Alaska, Hawaii, Minnesota, and New York! 🎉

How do I migrate to this new wallet?

Later this year (exact date will be communicated at a later date), we will roll out a new version of Droppp and Droppp Marketplace and disable all listings. At that time your funds will either need to be migrated to a new Droppp Wallet on the Solana blockchain or to an external exchange. As a reminder, this does not affect the underlying blockchain (WAX) that holds our digital collectibles: only the payment method on Droppp Marketplace. After you complete migration, you will have the opportunity to re-activate all of your listings. A simple migration page on Droppp will guide you through the process. We will also provide migration resources and help from our amazing moderators on Discord.

Is there a deadline to transfer my funds?

You will have a year (December 31, 2025) to migrate your funds to a new Droppp Wallet or transfer them to an external exchange. You won’t be able to use Droppp Marketplace until you migrate your funds out of your old (Circle) Droppp Balance.

An update on Droppp Arcade

While this migration takes precedence, rest assured that Droppp Arcade is still in active development. We're thrilled to announce that we've locked in the leaderboard mechanics and are finalizing rewards for the first three seasons. And yes, we're excited to confirm that these rewards are physical Funko Pop!, designed exclusively for Droppp Arcade. Stay tuned for more details after the launch of Droppp Wallet.

Thank you for your continued support. We will return with more details soon. In the meantime, feel free to continue interacting with Droppp Marketplace, where your funds remain fully secured by Circle.