[IMPACT] Please describe your proposed solution.
Nodesound will be web3-native music streaming protocol powered by NFTs with unique and novel economic tools that will empower the next generation of creative music artists.
How Will Nodesound Work?
Creators: Artistes Can Launch A Listening Party Countdown
Each song on Nodesound will be a music drop that will enable creatives release new songs with a listening party countdown.
Nodesound will give artists the chance to debut new music as a series of limited edition NFTs of the song.
Each NFT is numbered uniquely, so listeners can purchase them at the price preset by the artiste to showcase their early support.
We help artists capture more value from their art, and connect fans to the music they love more closely.
Fans: Showcase & Support Your Favorite Creator
Each Nodesound NFT is more than just an NFT that represents a limited edition of a song, Owning a song’s NFT will give the backer or the supporter a chance to make a public comment on the song timestamp just like on Soundcloud, but we will do it better, you can show your support on any timestamp on the song.
Once you sell your NFT, your comment disappears, getting replaced by the new owner.
Hold and Show off your Node NFTs you’ve collected to show proof of support from day 1.
Earn Perks & Rewards While Being A Supporter
Music is all about being creative and supporting artists should be fun.
Every song on Nodesound has a “Featured Time” embedded on a particular randomly selected timestamp in the song.
Once you leave your comment where the Featured Time is located, your Node NFT gets upgraded to a 1/1 edition with unique artwork that will be chosen by the artist.
There’s only one golden egg per song, and the winner is revealed when the song sells out.
Nodesound Will Utilize NFTs In A Way Never Seen Before On Cardano
We are building something never seen before on cardano.
We are the first to embark on such a grandeur endeavor.
In addition to the Cardano community owning the song and etching your name in its history, NODE NFTs are your access pass tickets to the Nodesound community on Discord where artists and listeners interact with each other through weekly hangouts, collaborative projects, and more.
[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.
Nodesound will allow creators mint original high-quality song NFTs while retaining true ownership and provenance of their work, as the the smart contract that mints NFTs will be unique to each artist.
On secondary markets, each artist’s songs show up as a distinct collection instead of getting lost in the sea of NFTs.
Our novel approach on the utilization of NFTs will give further utility to CNFTs and greater adoption on the Cardano ecosystem.
Creators receive 100% of the proceeds from their work and 5% of every resale of the Song NFT without giving up any ownership of their masters or publishing rights.
Every artist has complete ownership over their contract, so backers can trust that what they're buying is authentic.
Because artists own their contract, artists also own the relationship with their fans, making it easier for them to work with Nodesound.
Can We Redefine The Perception Of NFTs On Cardano?
Yes, strongly believe that what we are building is still new and unheard of on Cardano, this would paint NFTs on Cardano in an entirely new light with their utilities reprising other tangible items like music.
[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Our biggest challenge is raising funds to be able to develop a proof of concept of our Cardano NFT music protocol.
We are have the open sourced EVM master contracts which will be deployable on the Cardano Sidechain.
To continue development, the project requires Funding.
[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.
Technical Requirements
Development Of A creator-centric minting contract with the following features:
- Authenticity — true provenance for creators,
- Interoperability — works with existing NFT platforms
- Extensibility — unique, creator-approved NFT applications
Currently, creators typically mint NFTs using NFTmaker or some random minting engine to later List on Jpg.store.
Subsequent mints might require the artist using a different minting engine / contract which makes your NFT a product of a third party’s minting contract sometimes, your work is listed next to other NFTs using the same contract, oftentimes, completely unrelated.
On Nodesound, creators will be able to distinguish their name in the chain of provenance. Your work should stand out based on your name, rather than get lost in the sea of NFTs.
Nodesound Creator contract is based on the Cardano NFT standards. As such, all NFTs minted with Nodesound are recognized on all open Cardano NFT marketplaces.
Nodesound Protocol
Creator Node Contract: This is the brain of the Nodesound protocol. its only responsibilities are to authorize who can deploy an artist contract and perform the deployment. It also has some code that enables upgradability of itself and the artist contracts.
Creator Minting Contract: It is a smart contract that each NodeSound artist need to deploy before they can start minting songs.
The artist gets to choose the contract's name and token symbol, as well as the parameters of each song edition like quantity, price, secondary-sales royalty, auction start time and end time.
Metadata: We will initially serve NFT metadata from our own API, as opposed to putting it on a permanent decentralized storage network like IPFS or Arweave. The media itself gets stored on IPFS, but it is linked to from the metadata, and the NFT contract links to it by pointing to our API.
This will give us flexibility while we explore more creative possibilities.
[FEASIBILITY] Please provide a detailed budget breakdown.
Total Hours: 640 Hours
NFT Music Frontend & UI Design : 240 hours
Rate: $65 Per Hour
Backend: 150 hours
Rate: $80 Per Hour
Smart Contract: 200 Hours
Rate: $50 Per Hour
[FEASIBILITY] Please provide details of the people who will work on the project.
Nodesound will be developed by a mix of In-house and outsourced development teams who have built out and developed similar protocols on EVM blockchains.
Founder CEO: Amakom Chibuike, An Engineering Graduate and a music lover, been an active music blogger since 2018. Find Me On Linkedin: https://www.linkedin.com/in/amakom-chibuike-133115b3/
Joshua Nwankwo: Full Stack Developer, built couple of dapps on Polygon.
[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.
Nodesound will be an ongoing Dapp project that looks to revolutionize music distribution.
Once we get funded, Development will commence immediately.
Our above ASK amount is very conservative and only intended to cover the deliverables described which is a working NFT music protocol on Cardano, it is possible that we will return to Catalyst in the future to enable us scale, and further funding will likely be needed to bring Nodesound to market.
[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?
The deliverables of Nodesound proposals will be shown as we Will be making weekly commits on our Github repo as we proceed with development.
We also intend to completely open-source the project once it is completed.
[AUDITABILITY] What does success for this project look like?
- Releasing a successful proof-of-concept for Nodesound Music NFT protocol
- Onboarding Over 100 Artistes within first year of launch and also helping them release their songs as NFTs
[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.
New Project