[IMPACT] Please describe your proposed solution.
Purchasing a CNFT from on NMKR from another blockchain requires that the users spend time and money bridging tokens over to ADA or using a 3rd party application to do the bridging for one.
The inconvenience and risk of bridging prevents liquidity from flowing freely and sets a steep barrier to capturing buyers from other chains. This is a classic example of the issues surrounding Web 3.0 and its inconvenience and a problem we have set out to solve using our custom protocol. This protocol is currently working making token transfer and payment between two blockchains easy and convincer as Web 2.0 while still being decentralized.
This Proposal is for the integration of our payment protocol called the Real-Time Optimistic Payment Protocol (RTOPP) with NMKR. RTOPP allows builders to easily integrate payments into their systems and so provide their users with unparalleled Web3 payment experiences. We hope that RTOPP will be valuable to the addition to the Cardano ecosystem and integration will result in a more integrated and interconnected network built on Cardano
FEATURES
Collection Owners
Many new features have been added including a expertly designed UX/UI with dark and light modes.
Collection owners tend to want to create highly personalized websites so accommodate them by allowing them to come to their admin dashboard to build a custom button they can drop on any HTML page and instantly have a mint button.
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Collection Owners can mint quickly without knowing about all the tech so they consentrait on what they know best, their art.
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Collection owners can also register to receive notifications vie email or text to be notified when a CNFT has been minted.
Buyers
Buyers on any chain enjoy the process of buying a CNFT easily, quickly, and without spending allot or stressing over the finality of their transaction. The purchase feels natural and is pain free.
HOW IT WORKS
Create a Mint Button
Collection Owners can simply configure a mint button widget and drop some javascript on their collection webpage.
https://youtu.be/a85VdCajREoBuyers have Web 2.0 like experiences buying CNFTs
Buyers log in from any chain using their favorite wallet and select the token they want to use to pay.
Support Avax, Eth, USDC, USDT, Matic, Fantom, Bitcoin .. many more to come.
The user has all the convince of a Web2 checkout. No stress from bridging risks, high cost payed to DEXs or bridges, and no need to wait minutes for confirmations to be sure the transaction went through.
https://youtu.be/YGUL-a_AEaUCreate a CNFT Collection in 4 minutes
The entire process of creating an NFT collection can be done in 4 minutes.
https://youtu.be/eBz_KD7LUMwNFT Collections that host on Cardano will get all the benefits of NMKR and Cardano while till being easy to purchase from users who all have outstanding Web 2.0 experiences and want to come back and buy more.
View Analytics and Collection analytics
View the history of the collection with graphs and charts. Identify trends and counter trends.
Instantly see the purchases per address.
BENEFITS
- By removing bridges, DEXs we reduce the carbon footprint of minting a CNFT
- Removes the drama and frustration from the buyer experience
- Removes the high cost of bridging tokens- often a large % of the cost of the NFT
- Removes the stress and inconvenience of waiting for transaction to complete.
- Buyers from EVM based chains, Ethereum, Polygon, will be able to see the NFT in their wallet.
- Less stress buying CNFTs from other chains - if they don’t receive the CNFT 60 minutes their funds will be refunded.
- Buyers have increased trust and confidence provided by a DAO based conflict resolution mechanism that allows voters to decide if the buyer received the right good. Information about the purchase is collected in case dispute resolution is needed.
- Charts, graphs and and table allow CNFT collection owner to identify trends on CNFT
OTHER
Anyone is welcome to test our application at the link below:
please use this code when prompted: NMMZCQKT
[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
This will be the first of many applications that can leverage the RTOPP to break down the silos between Web 2.0 world and the Web 3.0 world and bring liquidity from other chains like Bitcoin and Ethereum to Cardano.
CNFT owners will expand their customer base to encompass the 420 million crypto holders across the world. In the future, projects looking for the best chain to deploy to will choose Cardano because of its superior technology and community and select a chain based only on the available liquidity.
[IMPACT] How do you intend to measure the success of your project?
This project will transition scarce blockchain liquidity from some of the chains like Ethereum and Bitcoin to Cardano. We are aware that NMKR already supports an onRamp and eth purchase but does not solve the issues around convince and the ability to view the NFT on a purchase chain wallet.
But a broader benefit is we will introduce the RTOPP to Cardano and it available to any builder, allowing them to avoid bridging risks and take payments or transfer liquidity in seconds with costs close less than 0.15%. This is groundbreaking and makes Web3 competitive with Web2.0 technologies like NeoBanks.
We would like to see massive collection adoption, 40% purchases of NFTs on Cardano would use our pay button. (video above)
Collection owners are likely to be more finicky but we would like to see 20% of collection owners decide to our interface to CNFT with 4 month.
We will from time to time ask CNFT collection owners to fill out a survey asking if they would recommend us to someone starting a CNFT collection. We should like to see above 90% positive answers.
We are committed to transparency so results of our polling and our stats will be published on our for the Cardano community to see.
[IMPACT] Please describe your plans to share the outputs and results of your project?
We are developing an analytics page that allows someone to query data such as :
- number of CNFTs minted
- source chain
- source token
- number of CNFTs minted per address
- price per collection
- average price of CNFTs across all collections
- time graph of all CNFTs minted and CMFTs minted per collection.
- others - please suggest something you would like to see here.
Since our core strength is making Web3 easy to use and convenient we will be continuously doing usability studies. We are also very interested to get the buy-in from the Cardano Developer community.
[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?
Tim O’Brien, Founder CEO & CTO of FuixLabs has experience and a record of delivery on Cardano Grants having received and delivered grants in Fund 5 and Fund 8. More on this below
About FuixLabs
FuixLabs is a blockchain builder located in Vietnam that has worked in the Cardano
Ecosystem since 2019 contributing to high value projects, providing community advice and helping Cardano grow in South East Asia. Fuixlabs may be the most successful Cardano builder of DID technology nobody has heard of. Fuixlab’s member and ex-googler Tim O’Brien had a 18 year careers in software development.
FuixLabs Community Contributions
FuixLabs is an active contributor to the Cardano Community.
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Tech lead, Tim O’Brien, was a founding member of the Vietnamese Eastern Town Hall.
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FuxLabs’ Tim O’Brien helped organize the Cardano Summit in Vietnam, and has been working with trade organizations and governments, such as Singapore, to promote Cardano as a Trade Platform.
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FuixLabs contributes to open-source libraries, frameworks, and documentation on Cardano, including an open-source alternative to blackfrost, a Cardano Wallet, and guidelines on how to install Plutus.
Products Built from Catalyst Grants
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FuixLabs created a No-Code Hackathon, allowing communities to build their own solutions using No-Code Tools.
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Website: https://cardanonocode.com
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FuixLabs has built a full implementation of the DID specification called Dominium. It interoperates with AtalaPrism but also runs standalone. Dominium is the only open-source DID implementation in the ecosystem and is committed to always being free and non-commercial. It has been embedded in TradeTrust
(https://www.tradetrust.io/) and Sprynt.io (http://Sprynt.io) to create a platform for paperless trade and cross-chain payments.
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FuixLabs built a mobile wallet that allowed representatives of the Ghana government to upload documents, soil assays, and pesticide reports to a DID system encrypted with keys owned by farmers. Farmers own all documents related to their crops and land and can use them to bargain for better prices.
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FuixLabs built a metaverse that transcends differences in language, education, and technical proficiency, allowing small farmers, shippers, and markets in Kenya and Ghana to understand supply chain management and food traceability.
https://youtube.com/playlist?list=PL5XpnJISQG5bnbowma_8nF5OsiKG0rpS3- FuixLabs is working to advance the cause of paperless cross-border trade, which will one day allow farmers to ship their products overseas themselves.
Fuixlabs is committed to the cause of Self Sovereign Identity
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Cardano Service: https://github.com/tuvalusoftware/CardanoService
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DID Resolver: https://github.com/tuvalusoftware/DIDResolver
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DID Controller: https://github.com/tuvalusoftware/DIDController
[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?
I intend to demonstrate that CNFT can be purchased without the buyer on any chain in a way that is pleasant, easy to understand, stress free, and very low cost. Reliability and governance of transaction that includes capability for chargebacks.
[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.
https://docs.google.com/spreadsheets/d/1WUTEamIF5On1mAfsw4_qdgg3gwhMyiv-/edit#gid=1626286576
[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.
https://docs.google.com/spreadsheets/d/1WUTEamIF5On1mAfsw4_qdgg3gwhMyiv-/edit#gid=1626286576
[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.
https://docs.google.com/spreadsheets/d/1WUTEamIF5On1mAfsw4_qdgg3gwhMyiv-/edit#gid=1626286576
[RESOURCES & VALUE FOR MONEY] Who is in the project team and what are their roles?
Tim O’Brien ex-googler and team of talented developers. the project will be developed by FuixLabs.com a company with a track record of completing catalyst projects and delivery high value to the Cardano ecosystem. See our profile above.
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[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
We demonstrate a new protocol that allows liquidity to be moved between chains safely, at low cost, and without the expected Web 3.0 wait for time to finality. This is great for Cardano NFT collection owners as it increases their market size by millions of new users. This also is a proof of concept that a Web 3.0 buying experience can be as convenient and pleasurable as a Web 2.0 experience and that Cardano application are ready to compete with the new NeoBanks that charts 0.05%, deliver funds in under a second, and are nearly riskless.