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African Cultural NFT Treasury Model

$26,250.00 Requested
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Problem:

<p>Many African stories have been lost to history.  The stories that have endured by oral, cultural, and historical record should be preserved.</p>

挑戦: F6: NFT Business models
over budget Requested 13.125% of the fund.
コミュニティ・アドバイザー・レビュー:
3.08 (12)
Yes Votes:
₳ 31,925,498
No Votes:
₳ 23,407,011
Unique Wallets:
145

チーム

Detailed Plan

He who forgets his past is lost

(African Proverb)

African Culture

According to Wikipedia, African culture dates back hundreds of thousands of years. At one point in history, Africa thrived and was considered to be the center of the world economically, culturally and in many other measures.

There are many African stories and cultural impressions that have survived the test of time. Moreover, there are new and compelling cultural stories being created across Africa and the African diaspora everyday. African Cultural NFTs will capture the ancestral story as well as the modern day story in illustrations, story, and other expressions of African cultural story.

This is a Wada treasury project. A percentage of the proceeds that result from the sale and resale of NFTs will be used to fortify the Wada treasury as a liquidity provider.

Wada Treasury

  • Infrastructure projects
  • Education initiative
  • Other Wada priorities

Artist(s) will retain 0% - 85% from sale of the NFT (Artist incentives for funding the treasury).

Wada treasury will receive 15% - 100% of the sale (perpetual) of the NFTs through the Wada network.

Illustrations and Story

Artists will create illustrations that represent specific characteristics of African ethnic groups / tribes both on and off the African continent. In some cases the illustrations will be accompanied by story. In other cases the story and / or the illustration might be delivered independently.

We plan to offer several different NFT expressions (illustration, story, song, etc.)

Interviews

We will conduct well-designed audio and video interviews with various communities. Stories, illustrations, etc. will be created based on such interviews and shared in various formats on various networks. The interviews will serve a few purposes.

  1. Record for posterity on the blockchain.
  2. Way to generate blockchain and technology use cases for Africa and other developing nations.
  3. License the ownership of the the value wrapped in cultural story through NFTs
  4. Value will be used to compensate interviewers, story subjects, and storytellers.
  5. Value will be used as a financial input to Wada treasury for financing projects on the continent and in the diaspora.

Key Objectives:

  • Conduct research and develop architecture for building up a collection of stories to be preserved in the blockchain into perpetuity
  • Identify a mechanisms for weaving narratives through stories that speak to our higher aspirations
  • Identify ways to circulate the stories in various formats
  • Discover local technology uses cases based on insights gathered from stories
  • Forge a NFT architecture that captures the value of cultural story
  • Design an economic structure that compensates all contributors as well as finances Wada treasury.

Consequences:

  • Addon to the Wada membership portal that uncovers and preserves cultural history of Africa, diaspora, and other cultural representations
  • Economic design for compensating interviewers, storytellers, story subjects, and others involved in the creative process
  • Financing mechanism for Wada treasury

Launch Date

Q4 2022

1-3 months

Project team formation

Research

Interviews

NFT design

4-6 months

Requirements gathering and solution architecture

6-12 months (subsequent project phase)

Integration into membership portal

Wallet integration

Treasury integration

Project Team Lead

Sidney Nicholas WADA

Sidney has over twenty years experience in technology. In the most recent stage of his career before transitioning to FinTech, he worked as an analyst in the digital marketing space. <https://www.linkedin.com/in/sidneynicholas/>

Phase One Budget

Project Management

Research

Interview framework

Story framework

NFT design

Launch first series in Wada membership portal, analyze feedback

Token policy design

Contract design

コミュニティ・アドバイザー・レビュー

Addresses Challenge

3.8 / 5
4 レビュー

Does the proposal effectively addresses the challenge?

コミュニティーレビュー (4)

Commenter gravatar

This addresses the challenge that aims to capture African cultural history using illustrations, stories, and other elements of African world culture because those stories have been lost and some have endured by oral, cultural, and historical record.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_340
Total QA Ratings
13
QA Rating Outcome
Good
人間性の確認

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Commenter gravatar

Creating a platform for auctioning african art NFTs addresses the challenge brief of creating business models with NFT's at the core. Minting and selling African culture NFTs will increase the use and number of NFTs on Cardano, thus increasing utility and providing value to the ecosystem. I would like the team to refine the problem statement and solution, at the moment the two read disconnected from each other, Problem= African Culture need preservation, Solution = Digitizing and selling African culture NFTs to raise income for preservation. I would like the team to think how they will scale and market the platform to increase network participation.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_358
Total QA Ratings
7
QA Rating Outcome
Excellent
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Commenter gravatar

This proposal seek to build NFT model where "Artists will create illustrations that represent specific characteristics of African ethnic groups / tribes both on and off the African continent" which is a great idea but this challenge brief is seeking "What non-Art use cases of NFTs can distinguish Cardano as the blockchain of choice for NFT based businesses?" Emphasis is on the "non-Art use cases ". This proposal in my understanding fall under ART use case , great idea but not he Use case of this challenge,

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_430
Total QA Ratings
8
QA Rating Outcome
Good
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This is an interesting use case with potential but the proposal leaves many questions unanswered. Audio, video, and long text will exceed the metadata limits of Cardano and be reliant on IPFS or similar services. The creation of value from the NFTs is not clearly explained.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_67
Total QA Ratings
9
QA Rating Outcome
Good
人間性の確認

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Feasibility

3 / 5
4 レビュー

Given experience and plan presented is likely that this proposal will be implemented successfully

コミュニティーレビュー (4)

Commenter gravatar

The proposers is a team of highly skilled and veteran of their trade which qualifies them greatly in implementing this proposal. The plan for Artists to create illustrations that represent specific characteristics of African ethnic groups / tribes both on and off the African continent. In some cases the illustrations will be accompanied by story. In other cases the story and / or the illustration might be delivered independently.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_340
Total QA Ratings
13
QA Rating Outcome
Good
人間性の確認

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Commenter gravatar

The team provided a link to a website, but I feel the proposal requires further development to ensure successful implementation. I would like to see links to LinkedIn or similar to provide additional detail/evidence about the teamwork history, education and past experiences. I would like the team to expand on the responsibilities and deliverables of each member, this allows the team to judge whether there is a work overload in one area. I advise the team to develop a risk assessment considering the challenges and risks relevant to a successful implementation, the team needs to think: "what needs to be true for this project to succeed". I would like the team to provide a deeper explanation of the architecture and language for the implementation of the back end of the product.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_358
Total QA Ratings
7
QA Rating Outcome
Excellent
人間性の確認

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The Team has been active in the cardano community and i think they can pull this through. I am concern about the " 4-6 months" plan. which is only "Requirements gathering and solution architecture" It seem a long period to do just that. It will take about 12 month to have an MVP of this Model going by the plan provided. I doubt if the plan is followed the way it is , it will be successful.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_430
Total QA Ratings
8
QA Rating Outcome
Good
人間性の確認

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Commenter gravatar

Specific NFT or blockchain experience is not listed for the team. The project begins with several month of research before tacking the technical side. I'm worried that they are not prepared for the technical aspect of this proposal.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_67
Total QA Ratings
9
QA Rating Outcome
Good
人間性の確認

コメントを書く

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Auditability

2.5 / 5
4 レビュー

Does the proposal provides sufficient information to assess and audit progress and completion?

コミュニティーレビュー (4)

Commenter gravatar

The key performance indicators (KPIs), timeline, milestone were briefly described. Budget is very reasonable. But, the ability to audit this proposal needs clearer metrics that can be easily viewed to determine if the proposal is successful.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_340
Total QA Ratings
13
QA Rating Outcome
Good
人間性の確認

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Commenter gravatar

The proposal has a minimal roadmap and budget. I would like to see the team develop Key Performance Indicators (KPI's) for the project (create 500 NFTs by month x, sign up 50 artists by month y), and connect the KPIs to milestones on the project roadmap (timeline). I would like to see the team create a solid roadmap - develop and add milestones to provide deeper detail, set technical development milestones for creating the product. I would like to see the budget developed beyond a single line entry and broken down into monthly spending, and I would like the team to connect the KPI's and roadmap milestones to the spending, what are the specific tasks and deliverables that the labor must provide and when must they deliver the tasks – this breakdown will give a clearer indication about the implementation workload feasibility and match the deliverables to the spending - thus the team can track performance and spending over a timeline. As the project stands at the moment, I feel the project will be challenging to audit.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_358
Total QA Ratings
7
QA Rating Outcome
Excellent
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The proposal has a start date but no definition of success or KPI. Secondly the budget breakdown does not include prices on each item to help us evaluate the amount spent on the each item. Overall i would say , the proposal can be refine to show a better audit-ability which is lacking at the moment.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_430
Total QA Ratings
8
QA Rating Outcome
Good
人間性の確認

コメントを書く

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Commenter gravatar

Several of the key objectives are more abstract than concrete and appear difficult to audit. "solution architecture" lacks specific specifications, ROI will be difficult to establish.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_67
Total QA Ratings
9
QA Rating Outcome
Good
人間性の確認

コメントを書く

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