[SOLUTION] Please describe your proposed solution.
Sri Lanka has a wealth of the most precious gems in the world. We intend to visit the country to source the best quality gemstones and precious metals to craft custom made Cardano themed jewelry. This jewelry will be limited in quantity to only 10 pieces.
Each ring will include a corresponding NFT, which the owner of the ring will be able to claim by scanning a QR code.
By creating a high quality luxury item with a Cardano based NFT, we can implement a proof of concept for other high-end luxury brands to incorporate a token based system in their products to eliminate counterfeits.
[IMPACT] Please define the positive impact your project will have on the wider Cardano community.
Our project will allow members of the Cardano ecosystem to participate in a growing movement to tokenized real world items.
[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?
Our project is being managed the Kaizen Crypto team, a well-established brand with the Cardano ecosystem.
Our team has been previously funded in Catalyst funding rounds, and we continue to find new solutions to existing problems. Our efforts to build on Cardano demonstrate a strong desire to continue pushing the ecosystem forward.
[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?
Milestone 1: Completion of Ring Design and Sourcing Gemstones (Month 1)
Acceptance Criteria: Ring design will be complete and all gemstones are acquired from a trusted gem dealer in Sri Lanka
Budget: 35,000 ADA
>Milestone 2: Rings are auctioned to community (Month 2)
Acceptance Criteria: Rings will be auctioned and each ring will contain a corresponding NFT which the owner can claim by scanning a QR code.
Budget: 35,000 ADA
>Milestone 3: Completion of Ring and Delivery To Owners (Month 3)
Acceptance Criteria: Rings will be completed. Finished products are sent to auction winners along with corresponding NFT.
Budget: 30,000 ADA
[RESOURCES] Who is in the project team and what are their roles?
Pritesh Gosai - Kaizen Crypto
Pritesh is a long-time Cardano community member who has been contributing to the ecosystem since 2017. He began creating educational content for the Cardano ecosystem in 2019 and has operated Kaizen stakepools since the Incentivized Testnet. Since then, he has gone on to create one of the most well established brands in the Cardano community with a Youtube channel that has over 1M views and 30k subscribers. He operates several stakepools and contributes to charity in India and Sri Lanka with operator rewards from Krishna stakepool. The Kaizen Crypto brand is now supported by several community members who span across the entire globe to continue the ethos of continuous improvement for Cardano. The Kaizen Crypto team has previously been funded through Catalyst for Lovelace Saga, Cardano Calendar, and the Cardano 101 Course.
<https://twitter.com/KaizenCrypto>
[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.
The funding requested is needed to pay for the materials to make the jewelry as well as the craftsmanship to design and cast.
Proposed Budget For Team Salary:
Raw Materials - 35,000 ADA
Design and Cast - 35,000 ADA
Import Duties and Shipping - 15,000 ADA
Miscellaneous:
ADA Valuation Contingency (Savings) - 10,000 ADA
Fees and Costs - 5,000 ADA
Total Cost: 100,000 ADA
[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
The cost of this project represents value for money for the Cardano ecosystem due to our team's commitment to ecosystem growth and ability to deliver innovative products to the community.
