How Rainbow saved over $750k in NFT indexing costs with SimpleHash

Rainbow is a refreshingly fun, simple, and secure way to create an Ethereum wallet, collect NFTs, and explore the world of web3. Rainbow also offers tools like RainbowKit, an easy-to-use API that provides a fast, easy, and highly customizable way for developers to create the ideal Ethereum login experience on their websites. 

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The Challenge

Rainbow needed on-demand troubleshooting to satisfy customers

When people buy NFTs, they want them to appear in their wallets immediately. That’s understandable — they just spent the money and want to see their purchases. However, it can be common for buyers to see delays or issues with receiving their new tokens. When this happens, companies need the ability to troubleshoot on demand. 

Rainbow lacked this functionality, and it was harming their customer experience. So, they were on the hunt for an immediate solution that could tangibly improve their end user experience. The entire NFT ecosystem is full of hastily implemented, inconsistent standards, while the resources required to build solutions in-house are staggering. Rainbow needed to pick their battles on build vs. buy. Fortunately, they came across SimpleHash — their perfect solution. 

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The Solution

SimpleHash builds for web3 companies & customers from the ground up

SimpleHash immediately stood out to Rainbow because the founders deeply understand NFTs and wallet-specific issues. Their solutions are built for a positive customer experience because they’ve lived every aspect of web3. According to Wayne Cheng, a core engineer at Rainbow, SimpleHash reverse engineers their stack to ensure a happy end user for every transaction. For instance, SimpleHash provided a fully built solution to a problem that Rainbow long had an in-house workaround for. 

In-house builds aren’t just expensive in terms of engineering labor. It also takes up space in remote procedure cell (RPC) providers and their internal database infrastructures. Indexing all of that takes serious capital and resources. Now, instead of completing a complicated, buggy SVG conversion, Rainbow can seamlessly implement SimpleHash’s resolution. 

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The Results

Simply put, SimpleHash has saved the team at Rainbow an impressive amount of time and money. Here’s a look at the trackable metrics so far: 

• Up to $500K per year of engineering time spent on developing an in-house solution
• Between $250K and $500K per year on in-house NFT indexing and compute costs
• Saving up to a month of in-house dev work on keeping up with the latest NFT standards, and adding new chains

Beyond the numbers, Wayne affirms that SimpleHash goes above and beyond as a provider. Vendors often aren’t interested in customizing products to work perfectly for individual users. However, that’s not the case here: SimpleHash has met every request from the Rainbow team and done so ahead of schedule. 

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The Future

Looking forward, the Rainbow team is thrilled to continue working with SimpleHash because they’re far ahead of every other NFT provider on the market. In Wayne’s words: Anything that Rainbow adopts, SimpleHash already has a solution for. At every turn, there are already stellar resources set up for them.