[IMPACT] Please describe your proposed solution.
To Improve Cardano's News & Media DAO, the proposed solution is to improve our basic website found here: https://onchainnews-nft.vercel.app/ so that is seamlessly mints articles to the blockchain and rewards users from our multi-signature treasury which can be found here:
Then users should be able to sell the rights to their articles and sell advertisement space on the website using the token in the multi-sig treasury and the advertisement portal. This can really be any token in the long run such as the Adagotchi token for Adagotchi news or the Disco token for Disco Solaris News. This will create a thriving ecosystem.
Viewers of the website will be able to comment and critique and fact check the articles for a portion of the reward that would normally go to the journalist if the community finds that they are indeed correct.
Users will also be able to participate in decision making through the voting protocol on app.summonplatform.io and the Tarax News and Media DAO Discord found here: https://discord.com/invite/stsHXZ5aYy
[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
The proposed solution provides a field of business for Cardano to begin to capture market share from. The proposed solution will allow more commerce to take place on the Cardano blockchain and give Cardano a place in a media landscape in which it is treated unfairly.
[IMPACT] How do you intend to measure the success of your project?
We intend to measure the success of the project once complete by a multitude of factors. The most important few include ad revenue, view time and bounce rate, quality of articles, virality of articles, and user satisfaction.
[IMPACT] Please describe your plans to share the outputs and results of your project?
Anyone should be able to see the results of the project by going to https://onchainnews-nft.vercel.app/ in the future or whichever domain we choose to use.
[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?
The development team has delivered for other ecosystems such as Disco Solaris. Most notably, the recent Moebius prime mint which is ongoing forever on silktoad.io. The development team has proven they are more than capable of creating dynamic NFT's through the success of the recent mint and will be applying those same skills to this project.
The News DAO team and journalists within it have a plethora of experience writing news and starting up news websites. Most have worked in radio or for news organizations in the past such as CNN, The Associated Press, and Disney General Entertainment Content. They understand how to write articles, but will need to find more experts in the Crypto space to write articles if the DAO chooses to cater to Crypto people. This is the easy part thankfully.
[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?
The main goals are as follows:
- Create the tokenization of NFT's for both user friendly inputs and user friendly viewing of outputs.
- Create a smart contract which pays X NEWS tokens based on the quality of the Article.
- Create an advertisement platform that users can sell the tokens to in exchange for advertisement space.
- Fine tune and add/subtract features based on the DAO's decisions.
[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.
The Goals and Milestones are the same.
We hope to achieve the first goal in three months. The second in another three, the third in another three and the fourth in another three.
Within the first goal, we hope to utilize CIP-68 and smart contract capabilities to finish what we have created here: https://onchainnews-nft.vercel.app/publish
For the second goal, we simply need to write a smart contract that takes tokens from the multisig treasury based on a voting system on the news website or they should be able to claim them at a website like DripDropz or Silktoad.io
For the third goal, we need to be able to create a platform where tokens can be exchanged for advertisement space. This can be done by making the Ad an NFT and writing code that displays it for x amount of clicks or x amount of views per token exchanged.
For the fourth goal, we need the Cardano community. We will have to have an advertisement and promotional campaign to attract both news inclined individuals, journalists, and anyone else who wants to be involved.
[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.
For the first milestone, a user should be able to publish and view an article while making it into an NFT and it should look good.
For the second milestone, a user should be able to receive tokens automatically or they should be able to go and claim them at a website like dripdropz or silktoad.io.
For the third milestone, a user should be able to exchange the tokens for advertisement space.
For the fourth milestone, we need a DAO of at least 1000 people.
[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.
20,000 USD/80,000 ADA for each milestone the development team meets to be split amongst them. Currently there are two developers so 10,000 per developer.
15,000 USD/60,000 ADA to community curators such as Allusion or Newman for managing the DAO and running promotional campaigns.
Website and miscellaneous costs will be paid from the 15,000 USD Kevin Mohr is donating to the project in addition to this funding.
[RESOURCES & VALUE FOR MONEY] Who is in the project team and what are their roles?
Dagwell & Alpine - Developers
Allusian & Newman & Happyboi - Community Management and Development
Ogunde Vin & Alexeusgr & Kevin Mohr - Journalists/Editors/Management
Team of 30 additional Editors/PR/Journalist/Content Creator/Influencers from various countries and backgrounds
[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
Most news organizations are valued at around $9.6 Billion USD. Most successful cryptocurrency websites are valued at over 500,000 USD. This potential of this investment could grow to be any number from half a million to billions of dollars. It is hard to say. It will take the support of the community and the fortitude to try this to find out. If anything, the project brings value to anyone who wants to participate in the creation of their own articles and to anyone who wants to see a fair representation of Cardano in the media.
