Detailed Plan
Cardano has a unique opportunity in the NFT space to extend the current primary use of ownership to utility or some function of repeatable use / transaction of NFT's due to the fixed fee + data transaction model. I believe that using NFT's to gate access to future content can help athletes provide more than speculation to their digital assets.
Why athletes?
July 1st of this year, Name Image & Likeness (NIL) rules were drastically changed allowing athletes in the US university and college level accept money for their participation in college programs. This has opened up a wild west that also allows for the legal transaction of NFT's for collegiate content before these athletes ever go pro.
Ultimately we want to help create new ways for athletes to partner with university programs to create shared NFT's that bring new sources of revenue to universities after the athletes have left (NFT royalties vs only donations) while rewarding athletes value they deserve while in college. This will also help athletes choose smaller schools where more gameplay = more NFT highlights over second string at power schools.
Where we are starting
There are many stages of athletes but we are starting with 6 - 10 Pilots that will mint the first collection of "Throwback" NFT's which take a historical highlight from an old school, home video, and pair it with a new clip of the athlete reliving that moment. This establishes ownership and a genesis point to show universities & schools we can create a new shared revenue pipeline with them and their former athletes using their existing content. This is underway and paves the way for this proposal.
Work completed to date
- Quicc has an engine to search and modify content based on transcription and other video metadata allowing for rapid (even programmatic) video creation of clips.
- Cloud infrastructure and core video management tech in market for 2 years.
- Active and committed pipeline of current, & former pro athletes and their universities creating NFT content.
Scope of FundingThere are many simple NFT's that are already minted and created on the Cardano ecosystem. The focus for this funding is to create Smart Contract Templates for other developers who want to create multi-owner NFT's. As we know there is a significant impact with Smart Contracts that pass down to new owners of NFT's while passing "acceptable" royalties back to the school + athlete or any other stakeholder for many utility or transaction use cases in the future it's important to spend time planning a set of standards and stakeholder behaviors to prevent devaluation of early but flawed NFT's.
1 Stakeholder (schools & athletes) behavior
- Create standard interview method for defining stakeholder behaviors (20 hours)
- In a sports use case, identify use cases, examples, stakeholder behaviors through interviews with our industry relationships. (60 hours)
- Examine the game theory behind the primary use cases to establish proper incentives. (120 hours)
- Finalize the primary expected outcomes as behavior templates (expected needs, outcomes, barriers) to determine Smart Contract template needs. (40 hours)
2 Open Source Smart Contract Templates
- Create open source smart contract templates for multi owner NFT's with clear documentation on Stakeholder types, value distribution ratios, and long term transaction royalties in Plutus. (250 hours)
- Create and manage a git repo for community feedback and open source contributions (50 hours)
Total hours - 540 *main criteria for funding (including paying collaborators)
Measurables
To define the success of our scope, the following will be the success baseline:
- Onboarding 2-3 more Plutus Pioneer Devs from the community.
- Interview 12 schools & 12 athletes to create stakeholder behavior templates
- Create game theory models based on possible incentives based on number of stakeholders (agents) a part of an NFT
- Setup git repo for Smart Contract drafts
- Finalize Smart Contract Templates for primary use cases & needs defined in Stakeholder behavior research.
- Town hall updates
**EXCEEDING
- 10+ community Plutus devs contributing to git repo
- Interviewing 15+ schools & Athletes to define stakeholder behaviors
- Covering use cases for Highschool athletes, College athletes, and Pro athletes
Timeline
Total timeline for this to be completed is expected to run through the end of Q1 2022 with all deliverables due the first week of April 2022.
After 3 months I expect to be done with school & athlete interviews, wrapping up game theory analysis and have most of our behavior templates ready for final review. We will have also have selected 2-3 Plutus Pioneers to collaborate with on the smart contract development.
After 6 months I expect to be nearly complete with the final Smart Contract Templates and finalizing any outstanding edge cases though the git repo.
After 12 months I expect there to be 100+ forks of our Smart Contract Templates to be used in other Cardano multi-owner NFT projects.
Expected Impact for the Challenge
I expect that this research will not only show the value of NFT's on Cardano as low cost way to uniquely identify ownership over a joint licensed piece of content, but provide a new way for these schools & athletes to work together to support each other through new revenue sources from their fans and school supporters who want to give back to their school and the athletes with every trade of the collectible NFT's.
