[IMPACT]
I N T R O D U C T I O N
The team apologizes for submitting a budget that may replace 2 other projects but because we believe that this project could have a large positive impact on other projects as well, particularly NFT projects backed by causes like Sustainability, growth of Africa… we felt we should go ahead and submit this proposal. We would be happy if this project plays a small part in helping Cardano win the metaverse wars.
Cardano’s low transaction cost and reliability and high number of transactions in the near future will make it the ideal place for NFT and metaverse projects, beating out Ethereum and Solana who currently hold the #1 and #2 spots. But we also need to be innovation leaders. Passively buying and holding NFTs and gaming may be what people think of today when they hear about NFTS and the metaverse, but it is only the beginning. This proposal will lower the barrier to entry for creating these deeper applications for the metaverse and NFT. As part of the platform we introduce a new concept of “NFT Boosting” which will provide a new revenue stream for NFT collections that can be used to support NFT collections.
Famous brands are looking for ways to be part of the explosive new world of NFTs but are unfamiliar with the NFT marketplace and may lack creative juices to go beyond creating NFTs from logos and images of merchandise. This factor has led brands to collaborate with existing NFT collections. Boosting is an easy way for brands to provide targeted rewards to NFT owners in a way that benefits both the booster and the collection.
N F T B O O S T I N G
NFT Boosting is what we call the increase of value of an NFT derived from extrinsic rewarding. Owners of NFTs that receive a stream of future rewards, special access to events or products… increasing the value of the NFT collection.
Three methods to boost NFT value
Direct Rewarding - Brands with an online presence offer specialty products and/or discounts to NFT owners of specific NFTs. For example a customer, Jane, visiting the online store will log into the store using her wallet. The online store detects the NFTs in her wallet ( using technology we develop in this proposal ). Jane will see specialty products and offers only available to owners of the collections.
Vaulting - Brands will allow some NFT owners to “park” their NFTs in special Vaults. While the NFT is in the Vault it accumulates ADA at a predetermined rate. While the NFT is in the vault, the brand may have rights to use the NFT. The earned rewards will be transferable to new owners of the NFT.
Metaverse Gamification - The most exciting way to use NFTs, we provide the technology to quickly build a metaverse game around trading NFTs, winning NFTs & building combinations of NFTs and combining NFT ownership with loyalty and reward points. Metaverse gamificatioin is an advanced NFT marketplaces and may set the standard for how NFTs are exchanged and purchased.
Benefits:
- Raising the valuation of collections with collapsing prices by making advancing to the next step conditional on matching NFTs from multiple collections.
- Increasing the value of an NFT collection by making ownership of an NFT one of the requirements to progress to the next level of the game.
- Setting up scenarios where users acquire NFTs to make a set and the set can then be traded for new NFTs.
- Users can win NFTs by advancing to the next stage of the game.
I N C E N T I V E S F O R B O O S T I N G ( N F T O W N E R S)
An NFT derives entirely from the intrinsic value of the artwork. NFT Boosting adds value to the NFT from extrinsic uses that result in streams of value to the NFT owner.
Example: By boosting the NFT we can increase its value over 64%
Before Boosting:
Demand for artwork. – 100 ADA
Future Value – 0
Utility – 0
With Boosting:
Demand Driving NFT Value NFT
Demand for artwork – 100 ADA
Access to brand rewards – 25+ ADA
Utility – 30 + ADA
I N C E N T I V E S F O R B O O S T I N G ( B R A N D S )
Demonstrating Support For Sustainability, Fair Trade Practices…...
Brands are being held to account for responsibly practicing sustainability, fair trade practices, and being responsible corporate citizens by contributing to the fight against poverty, pollution, and supporting resistance from conquering armed forces. Boosting is a good way for brands to signal support for a causes while providing a simple funding mechanism for solutions by boosting the price of NFTs in that collection. Boosted NFTs might even become a source of income for WADA, Sustainability….
Access To A Growing Demographic
NFT owners are a fast growing demographic with disposable incomes attractive to brands. Boosting is a way to provide targeted rewards to NFT and loyalty points including offering specialty merchandise, discounts and other promotional offers such as line skipping to the owners of NFTs.
D E L I V E R A B L E S
The project will be broken down into two phases. Each phase of the project will deliver a complete set of products. Phase I will be funded by this proposal. Phase II will be funded by a token sale. The products are built on technology that has been researched and developed over multiple years.
PHASE I ( Funded with this proposal)
U S E C A S E S:
Brand Owner:
- Build a metaverse by adding rules for advancing and icons.
- View NFT collections filtered by type and causes they represent.
- Request the right to use NFTs from the collection owner.
- View NFTs owned customers when they come to my website and display specialty products, discounts…. earned by the customer.
Brand Customers:
- Log into catalogs to view specialty products, special offers, discounts….
- Buy, trade, and build collections of NFTs to advanced levels in the metaverse.
- View ADA earned by vaulting my NFT
NFT Collection Owners:
- View requests to use NFTs from your collection
P R O D U C T S:
Metaverse Builder App:
Metaverse Builder makes it easy to build meta verses with 2D and 3D in interfaces where users use NFTs advanced levels. Advancing to new level may be based upon owning one or a set of NFTs, earning rewards etc. Each level achieved wins the player new rewards such as winning valuable NFTs, access to specialty products, discounts, loyalty points, line skipping….
Along the journey NFTs may accumulate value by vaulting, users may trade sets of NFTs for a more valuable NFT, etc
Javascript Library
Customers log into online sites and view offers and specialty product discounts etc., based on the NFTs in their wallets. A Javascript library will support logging in with a Cardano wallet and fetching a list of NFTs that belong to the wallet.
Admin Website
Basic website that allows Brand owners to request permission to use NFTs from NFT collection owners and up rewards for NFTs. NFT collection owners can approve the use of NFTs in their collection.
PHASE II (Funded Separately)
The second phase of the product will integrate our technology with game engines to bring awesome 3D experiences while bringing deep integration of the twin worlds - Meta and Non-Meta universes.
Integration with Game Engines such as Unreal Engine
The Meta and Non-Meta universes are divided by a wide gulf across which a few transactions cross a narrow bridge-mainly deposits and withdrawals. In the second phase, we will merge the Meta and Non-Meta universes by allowing developers to embed smart contract logic within the game itself. The smart contract logic is embedded in a totally natural way in the game scenery.
Develop a synchronization bridge between the Meta and Non-Meta universes simply by interpreting game scenery, i.e., passing a guard house, shooting down a spacecraft, breaking rules …. will have natural consequences in the the non-meta universe such releasing escrow, winning/losing an NFT, and being fined….
O T H E R U S E C A S E S
The use case listed above is only one of many possible use cases for a meteverse builder.
Below is a list of ideas
NFT Marketplace - Advanced OpenSEA on Cardano
NFT Journeys are advanced marketplaces that fill many gaps present in OpenSEA .
- A marketplace where NFTs and Brands meet.
- A marketplace where NFTs can be vaulted to acquire value in exchange for rights to use the NFT.
- Gamified scenarios for acquiring NFTs that might intelligent strategies of NFT buying to win valuable NFTs
Interface for Last Mile Supply Chains, Loan and insurance applications targeting small farmers.
Last mile supply chains often include participation of small landholder farmers with limited exposure to technology. A metaverse provides an easy skeuomorphic interface that can be intuitively understood by audience of diverse backgrounds.
Blockchains , Large Social Media Companies (Meta for instance) and large brands like Lamborghini ,Nike ,Pepsi, Coca-Cola and many others are competing for a share of the Metaverse market- projected to grow at 37% annually and reaching USD 678.8 billion by 2030 Cardano is poised to win the Metaverse wars with low transaction costs and high reliability using technology based on peer reviewed papers. We intend this project to help bring Cardano to the front of the pack.
H O W W E A D D R E S S C H A L L E N G E C R I T E R I A (Guiding Questions)
Question 1: What are the key applications that underpin the application ecosystem on other platforms?
-> Our Answer: Metaverse/NFT is THE #1 application on the Ethereum and Solana Platforms.
Question 2: What are the most profitable or most used applications on other ecosystems?
-> Our Answer: NFT is by far the most profitable and most used application on Ethereal and Solana as well as many other platforms
Question 3: What needs do users of Cardano have that could be solved by new applications?
-> Our Answer: Cardano already has many NFT Collections many promoting social responsibility.By providing non-passive use cases for these NFTs it will raise NFT valuations in general and it it hoped it will provide income streams for organizations such as WADA and …
Question 4: What applications deliver the highest amount of value with the least amount of technical sophistication?
-> Our Answer*:* again the answer is NFTs. Cardano technology makes creating NFTs easy relative to other protocols.
H O W W E A D D R E S S C H A L L E N G E C R I T E R I A - Potential directions
We are very pleased to see that “NFT marketplace or facilitator” was identified directly in the challenge criteria.
H O W W E A D D R E S S C H A L L E N G E C R I T E R I A- Key metrics
By providing a platform that allows building infinite non-passive use cases for NFTs that in turn appreciates the value of NFT collections we hope two have a massive impact on the rapid adoption adopters of Cardano by adding a key component to already impressive technology when combined will allow Cardano to claim the number one spot in NFT development.
As a DApp that is a platform used for creating new DApps (metaverses) the completion of this project will hopefully result in the creation of many very successful DApps
The project faces the following technology and business risks:
- For Cardano to become #1 in NFT and metaverse Hydra would have to be succesfully implemented in order to achive high TPS required by meteverse and NFT sales.
- Competition from Microsoft, Facebook. The metaverse wars are being fought by all the blockchains plust large social media companies like facebook. It is possible although not likely for large companies with large budgets build similar products with out of box market traction.
- Covid is unpredictable and it is possible for my team to be delayed if covid attacks our office.
[FEASIBILITY]
We have a working prototype of this application that will be available at the below link on March 23.
https://ec2-54-151-168-92.ap-southeast-1.compute.amazonaws.com/
This is a video of that working prototype
https://www.youtube.com/embed/7dZXnf7KMZsM I L E S T O N E S
Milestone I (Deliverables) 5 weeks
- Project Initiation and Planning Document
- High Res UX Design Document
- Project Setup – automated testing repositories
- High-level architecture Document
- Low-Level Architecture Document
- Testing Plan
- Deployment PlanSetup
- Plutus Dev Environments
Milestone II (Deliverables) 8 weeks
- Metaverse Builder DApp:
- Implementation of Plutus Smart Contract - static data ( phase1)
- Implementation of Plutus Smart Contract - offchain component (phase 1)
- theme and image uploadingsmart
- contract embedding in game ( phase 1)
- unit testing plutus
- Javascript Library:
- Login to website using Yoro’si Wallet dApp Connector
- Login to website using Trezor
- Admin Website
- login
- setup profile - user, collection owner,
Milestone III 8 weeks
- Metaverse Builder DApp:
- Implementation of Plutus Smart Contract static data continued (phase 2)
- Implementation of Plutus Smart Contract - offchain component (phase2)
- Game Creation Artifacts ( dragging and dropping to build game)
- unit testing plutus
- Javascript Library:
- fetch collections of accounts NFTs
- fetch images of accounts NFTs
- Admin Website
- NFT collection owner can upload collections
- Brand owner views collection of NFTs
- Brand owner sets up rule for vaulting
Milestone IV 8 weeks
-
Metaverse Builder DApp:
-
Implementation of Plutus Contract static data continued (phase 3)
-
Implementation of Plutus Contract dynamic data continued (phase3)
-
Implementation of Plutus Smart Contract - offchain component (phase 3)
-
unit testing plutus
-
Javascript Library:
-
library matching NFTs to special offers and functions to calculate discounts based on multiple NFTs
-
Admin Website
-
Brand requests the right to use NFTs from the collection owner.
-
Collection owner views the request to use
-
Brand owner sets up rules for loyalty, reward, and vaulting
Milestone V 4 weeks
- Integration testing
- bug fixes
Milestone I - Documentation & Planning
Role Man Hours #resources Total
Architect 200 1 14000
Sr Developer 200 1 10000
UX Designer 100 1 5000
Testing Manager 200 1 10000
Business Analyst 50 1 2500
Total –––––––––––––––––––––––––41,500
Milestone II - Metaverse Builder DApp:
Role Man Hours #resources Total
Architect 2800
Plutus Developer 320 2 16000
UX Designer 320 1 16000
Javascript Developer 320 1 16000
Tester 320 1 16000
Business Analyst 80 1 4000
Manager 40 1 2000
Total –––––––––––––––––––––––––72,800
Milestone III - Metaverse Builder DApp:
Role Man Hours #resources Total
Architect 0
Plutus Developer 320 2 16000
UX Designer 320 1 16000
Javascript Developer 320 1 16000
Tester 320 1 16000
Business Analyst 80 1 4000
Manager 40 1 2000
Total –––––––––––––––––––––––––70,000
Milestone IV - Metaverse Builder DApp:
Role Man Hours #resources Total
Architect 0
Plutus Developer 320 2 16000
UX Designer 320 1 16000
Javascript Developer 320 1 16000
Tester 320 1 16000
Business Analyst 80 1 4000
Manager 40 1 2000
Total –––––––––––––––––––––––––70,000
Milestone V
Role Man Hours #resources Total
Architect 4000
Plutus Developer 320 2 16000
UX Designer 320 1 16000
Javascript Developer 320 1 16000
Tester 320 1 16000
Business Analyst 80 1 4000
Manager 40 1 2000
Total –––––––––––––––––––––––––74,000
SUBTOTAL–––––––––––––––––––––––––––––328,300
Tim has 20 years of experience building critical mission applications while working for Raytheon, Citi Group, Deutsche Bank, Bank of Tokyo, Danske Bank, Philips Health, Cerner Health, Norwegian Air Continental Airlines, and most recently Google. Tim has worked with Cardano technology since 2019 and is a member of the Atala PRISM Pioneers program. Recently Tim’s primary focus is making the power of the blockchain available to everyone. Tim has 6 years of blockchain development and runs blockchain development company with over 15 employers. Tim is a member of Singularity University.
Tim was one of the early moderators of the Cardano Eastern Town Hall
Su Tong Quoc (Product owner - Senior UI/UX designer)
Su has been working with UI/UX for over 9 years. He owns experience in working with many foreign partners all over the world such as Taiwan, Australia, the US, etc. He covers many tasks in order to contribute that such a perfect project including designing and developing the brand identity and collaborating with the marketing and other teams to ensure the creation and product delivery.
Nguyen Ha Thanh (Project manager - Scrum master)
As a well-experienced developer with over 6 years working in the backend team, he’s able to use various technology languages such as Java, Internal platforms, JSF, PrimeFaces, Javascript, JQuery, XHTML, CSS, etc. He takes great responsibilities in burning out the tasks from the Product Owner, working with other stakeholders, enhancing requirements, keeping the projects on track, and implementing architecture and technical solutions for the Company’s product.
Nguyen Nguyen Thi Hanh (Quality Assurance Leader)
Hanh Nguyen presents Quality Assurance team to determine the tools, techniques, staffing, methodologies that ensure the efficient release of the quality of software features and company’s products. Her great contribution in perfect products is described in her tasks related to designs, develops, tests, and debugs software applications used by end users or integrated with other applications by Independent Software Vendor I(SV) partners.
Tam Nguyen Minh (Technical leader & Assistant - Senior backend developer)
Tam started working in Metaverse Builder with over 4 years of developing smart contracts and creating token contracts according to ERC-721, ERC-1155 standards, and establishing NFT on Cardano.
Huynh Xuan Bui (Frontend Developer)
Huynh is known as a well experienced frontend developer who contributed in developing web interface, mobile applications. She is not only concentrating on maintaining Dapps and integrating blockchain components.
Truong Nguyen Nhut (Frontend Developer)
Truong has worked as a frontend developer for over 4 years of experience. His great contribution in maintaining Dapps and integrating blockchain components benefit to both web interface development and mobile applications.
[AUDITABILITY]
Our progress can be followed by
- tracking the number of checkins in our Github Repository
- become a beta tester of the app at https://ec2-54-151-168-92.ap-southeast-1.compute.amazonaws.com/ ( available after March 23)
- Following updates on our project page https://fuixlabs.com/project.html
- track the use of the product as it is used in the field at : https://www.cardanonocode.com/
Cardano will be the future preferred location of Meteverse application and NFT markets because of its reliability, safety, low cost per transaction and soon high transaction throughput. Our hope is after this project Cardano will be
- Increase of value of CNFTs based on extrinsic values provided by this project.
- Many more use cases that are non-static (buy and hold) .
- Social cause projects will be able to fund themselves by creating NFT collections
- Brands will be able to signal their support of causes by providing rewards for certain NFT collections.
- Advanced NFT marketplaces that allow NFT trading, trading an NFT for a collection of low value NFTs and winning NFTs in sales that support gamifications.
- NFTs that are borrowed or vaulted will earn value that is automatically transferred to a new owner.
This project had strong input from trying to solve last mile supply chains and provide interfaces that small landholder farmers in Ghana would find intuitive.