[SOLUTION] Please describe your proposed solution.
NFT projects are generally struggling to keep afloat. Adding to this, we have seen some of the lowest NFT secondary market volume on Cardano, since the inception of NFTs on the chain. Community members and NFT traders see more lucrative opportunities outside of the NFT ecosystem and are becoming more hesitant to mint new NFT collections. Moreover, there are limited revenue sources available to NFT projects, outside of minting more NFTs, and in most cases, "use-cases" are almost non-existent for traditional PFP NFTs.
With the Danketsu Hustle platform, we have created a mechanism that is already functioning for NFT projects to generate recurring revenue, provide their holders with competitive text-based, idle gaming, enable a means to receive rewards, and create a circular buying/selling economy for their native tokens (if applicable).
Via these funds, Danketsu will be able to provide other NFT projects with this solution for ZERO upfront payments.
This is done via the following steps:
- A gamified staking (lore-based idle gaming) platform that can be used by any NFT project to create lore for its collection and hence generate value, called Danketsu Missions.
- FT holders become more involved with their favourite collections on a platform more closely linked to Web 3 than X and/or Discord.
- NFT holders compete with one another via the gamified leaderboards, and also the "global leaderboards" which allow for projects to compete with one another, hence creating competition not just between project holders, but projects themselves
- In turn, this also results in more transactions on the blockchain, when participating in these gamified experiences.
Currently the Hustle platform is live for the following Cardano projects:
We are in the process of launching the platform for over 25 other Cardano projects such as Mallard Order, Block Investment Group, The Inmates, Nebula and several others.
Additionally, we will integrate Polygon shortly, and allow holders of NFT projects on either chain to compete with one another, and also interact with both blockchains through various gamification elements, and we have already seen the onboarding of new users to Cardano from the Polygon blockchain and expect this to increase significantly as the platform integrates across both blockchains.
Since its launch, over 2000 wallets have completed in 12538 missions (gamified quests) across the 6 projects, and we expect an average of 2500-3000 missions completed within the first 2 months for every project that launches their iteration of the hustle platform.
[IMPACT] Please define the positive impact your project will have on the wider Cardano community.
This will be very beneficial to the wider Cardano Community for the following reasons:
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Foster more use of, and interaction with the blockchain.
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Onboard users from Polygon and in the future, other L2s.
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Driving more secondary trading volume for Cardano NFTs.
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Reducing the likelihood of NFT project leads exiting/quitting their projects on Cardano.
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Provide immediate utility to NFT collections beyond passive staking, and other promises for the future all for FREE.
[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?
The Danketsu development team led by Raul Rosa, has already delivered on the core premise of the Danketsu Hustle Platform and has it running for multiple projects.
As a business building on Cardano, Danketsu is well-reputed for delivering on its promises of gamified music, storytelling, and lore-building, alongside infrastructure development on the various phases of the Danketsu Hustle platform.
[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?
Fast-track development of partner platforms and launch all current partners within Q1 2024 via:
- Providing lore development and graphic design for frontend
- Smoothen API integrations and interactions
- Integrate tools from other developers including, but not limited to:
- Project-specific Lending/renting from Fluid Tokens
- Project-specific P2P NFT/FT trading via Maestro
- XP-level gated minting via NMKR
>Fully develop and launch Polygon Smart Contract integration, and allow for interactions between Cardano Wallets and Polygon Wallets by mid-Q2 2024
Expand on the Hustle platform deliverables, and implement for partners, such as:
- Global competitive leaderboard
- Project-specific design customization
- Improvements to Project dashboards
>Delivery of Danketsu Missions in its full form, as an automated whitelabel solution for NFT projects across multiple blockchains by Q3 2024.
Launch of Phase 3 of the Danketsu Hustle platform - The Dojo.
[RESOURCES] Who is in the project team and what are their roles?
Zushan Hashmi - Project Lead
Tommy Bui - Project Manager, UI/UX designer
Raul Rosa - Lead Developer
Udit Gandhi - Marketer/Outreach
Michael Phillips - Operations Manager
Adebayo Olamilekan - Frontend Developer UI/UX designer
Ademola Oladipo - Solidity Smart Contract Developer
Nadya Wibowo - Writer
[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.
<u>Breakdown</u>
Total ADA - ₳90,000
AWS bucket fees - $7,500 USD
Hosting fees - $250 USD
Vercell - $750 USD
Figma per editor (x3) - $2025 USD
In-house creative design for partner projects (graphics and story development) - $2,500 USD
Additional developer time to roll out further partner platforms (x4 in house developers over 3 months) - $20,000 USD
All additional funds will be added to the existing funds being used for marketing.
[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
The project will increase further activity on the blockchain via transactions to interact with the multiple platforms, encapsulating several NFT projects on Cardano, while onboarding new users from other chains, through fun, gamified experiences.
Adding to this, it will generate revenue for these NFT projects, as it is doing for Danketsu and its partners that are currently live, and will drive further innovation and development.