We aim to provide an easy and highly flexible web application that allows any business to create their personal Utility NFT Hub and launch in seconds NFT Campaigns specifically created for different business needs.
<u>Why most companies are not willing to adopt NFTs in their businesses?</u>
Starting an NFT project does not only mean minting NFT, but from the business perspective, it must satisfy and solve a specific business need that provides real value to the company.
Companies are interested in the development of functional use cases where NFTs can actually provide value to them, but simple and extensible tools are definitely missing right now.
Our idea is to provide companies with the ease and flexibility to create Utility NFTs configurable and adaptable for their specific needs, with the best UX and extensibility possible.
NFT Platform will be an all-in-one framework to create, manage and track utility NFTs
<u>What utilities can be attached to NFTs?</u>
Companies will be able to mint different NFT types starting from a template gallery and attach different purposes and utilities for each NFT to satisfy specific business needs. As an example, it will be possible to:
- create an NFT access pass for protecting a digital asset, like a web page on the platform, a video, or an external digital resource.
- create a sellable digital twin for a real-world product, to give proof of authenticity
- use NFTs to create event tickets and use the platform to validate the authenticity on site
- mint NFTs with royalties to open up a secondary market that did not exist before
Each customer will have additional tools to manage and effectively track each NFT campaign:
- Add/edit authorization for asset-backed by an NFT
- attach NFTs to physical items and managed them in an application's repository
- start a white-labeled marketplace to sell NFT
- sell NFT purchasable on the platform, directly with a credit card
- track and see reports of each NFT campaign
<u>What impact will this project have?</u>
The primary impact of the project that will produce is to provide utility adoptions of NFTs for real-world scenarios for businesses that are opening new opportunities with their customers.
There is way more than simple NFTs collectibles. What is missing today, is an infrastructure that simplifies the user experience for businesses in order to allow them to adopt it and actually use them. We strongly believe that once businesses start to use and promote NFT, they will be dragging a huge user adoption on Cardano.
<u>Is it possible to see your idea?</u>
Yes, we have attached wireframes for the core functionalities: managing the NFT project via the wizard, handling NFT collection and minting, creating Assets collection to create different Utilities..
Please refer to file NFT Platform Wireframes 018c.pdf
<u>Did our efforts manage to attract users to the platform?</u>
Our solution will make NFTs more accessible both to businesses and people and it will make Cardano much more attractive for whoever wants to effectively work with NFTs. Our NFT platform aims to solve business needs providing a place where they can onboard their users, there will also be an open NFTs marketplace so experienced users that are now merely collecting NFTs on other chains, will have many reasons to bridge because we offer new use cases and more features.
An increase of companies that will be using directly Cardano for all their NFT operations will exponentially grow usage of the mainnet, as companies will redirect their customers to transact on the blockchain for every activity related to NFTs. Please consider that companies that will adopt the platform, will use their marketing channels to specifically drive traffic to Cardano through our platform.
<u>Did our efforts result in new, viable applications built on top of Cardano?</u>
We think is time for new useful NFTs use cases to emerge and be widely adopted, for achieving this goal we are building out a platform to lower the entry barrier for people to create, manage and exploit the power of NTFs. We think there is space for this kind of innovative platform in any ecosystem.
The main challenge of the project is related to the customer acquisition costs as companies are usually skeptical in adopting new technologies as pioneers. This will definitely raise the customer acquisition cost, as a bigger effort is required to illustrate the advantage of using NFTs in their already ongoing processes.
We will compensate for this with the following strategy:
- the web application will be designed to provide a guided step-by-step user experience to instruct users on what is possible to do and how to accomplish it. Please refer to the attached UX wireframes.
- we will initially build b2b and b2c cases for free with our already acquired and most renowned customers.
- after the first use cases have been built, we will move to acquire new customers of the same sector
- we will increase our effort in developing a strong marketing strategy. We have good competence in digital marketing as we have launched 1.5 years ago a start-up ( <https://intranet.ai> ) that is acquiring exponentially new customers. If requested we can provide all information to verify this statement.
Another minor challenge is related to the need to learn how to develop a smart contract in Haskell.
We consider this a minor issue, as we are a software company with long experience in software development and we have assigned to this project a developer that has experience in functional programming (F#).
We are not afraid to learn and adopt a new language internally, as this will be definitely a long-term investment if we move our business closer to Cardano.