Derer NFT Market Place

[GENERAL] Name and surname of main applicant

Nebiyu Sultan

[GENERAL] Email address of main applicant

nebiyucc@gmail.com

Additional applicants

Eyasu Birhanu

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

This project will depend on the existing API endpoints from NMKR and other API endpoints for local payment systems.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

The project will be fully open source

[METADATA] Category of proposal

NFTs

[IMPACT] Please describe your proposed solution.

The solution for DERER NFT Marketplace is to develop a user-friendly NFT marketplace website that offers convenient payment options for Ethiopian customers. We will integrate popular local payment methods like Telebirr, CBE Birr, and Bank Transfers, as well as international methods such as debit/credit cards and crypto payment through a wallet that we have developed already. By providing a seamless payment experience, we aim to make NFTs more accessible to Ethiopians and tap into this market.

In addition, we will prioritize creating a simple and intuitive user experience on the DERER NFT Marketplace website for the Artist and the users. The interface will be easy to navigate, with clear calls-to-action for purchasing and minting NFTs. We will also provide instructional content and customer support to guide new customers through the minting, marketing and payment process. By delivering an excellent overall experience, we aim to encourage repeat usage and drive growth through word-of-mouth promotion.

In summary, the solution for DERER NFT Marketplace includes:

• Integrating local payment options, and traditional methods
• Developing an intuitive user experience across the website and mobile apps for seamless NFT purchases
• Guidance and instructions to onboard new Artists on the platform

We propose to develop an NFT market that will initially target the African Market. We will develop this using the NMKR API, but with a customized payment method. We will use the NMKR APIs for various functions such as minting and auctions, but the customers will have access to our payment tool (Endubis), which will be integrated into the browser, as well as other traditional payment options.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

The proposed solution of DERER NFT Marketplace addresses the challenge of limited cryptocurrency access for African artists by integrating local payment options through the Endubis Wallet. By providing convenient payment methods such as Telebirr, CBE Birr, and Bank Transfers, the marketplace enables artists to overcome the barriers they face in promoting and selling their work locally.

The benefits of this solution to the Cardano ecosystem are as follows:

• Increased Adoption: By integrating local payment options, DERER NFT Marketplace encourages broader adoption of NFTs in Africa, attracting more users to the Cardano ecosystem.
• Market Growth:DERER NFT Marketplace taps into the African market, promoting the growth of the NFT market and expanding the Cardano ecosystem's marketplace.
• Financial Inclusion: By offering local payment options, DERER NFT Marketplace ensures financial inclusion for artists.
• Network Effect:With an intuitive user experience and guidance for artists, DERER NFT Marketplace fosters repeat usage, word-of-mouth promotion, and a network effect, enhancing the vibrancy of the Cardano ecosystem.

In summary, the proposed solution addresses the challenge of limited cryptocurrency access for African artists and brings several benefits to the Cardano ecosystem, including increased adoption, market growth, financial inclusion, and the potential for a network effect

[IMPACT] How do you intend to measure the success of your project?

• Number of Artists onboarded: The amount of artists who have joined our platform indicates its attractiveness and value to creators.
• Number of NFTs minted: The quantity of NFTs created on our platform represents levels of user engagement and activity.
• Number Partnerships Signed: Collaborating with other organizations or platforms broadens our reach and offerings.
• Number Collectors onboarded: The increase in the number of collectors using our platform demonstrates its popularity and the availability of NFTs.

[IMPACT] Please describe your plans to share the outputs and results of your project?

• Derer NFT website:
• Social Media Updates: Regular updates on our social media channels to share news, features, and announcements related to DERER NFT Marketplace.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

• Expertise and Experience: Our team consists of experienced individuals with deep knowledge in platform development, NFTs, and blockchain technology. We have a proven track record of successfully delivering projects to exacting levels of performance and quality.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

• To build DERER NFT Marketplace as a leading platform for NFTs in Africa, particularly in Ethiopia, by attracting a large number of artists, collectors, and investors to the site.

• To promote NFT use and accessibility in the region by integrating local payment choices and creating a user-friendly experience for artists and collectors.

• By working with artists, establishing alliances, and continually developing the platform based on user feedback, to promote ecosystem growth and creativity.

To validate the feasibility of our approach, we will undertake the following steps:

• Market Analysis: Conduct in-depth market research to determine NFT demand in Africa and to gauge audience size, preferences, and issues.
• User Feedback: Engage artists, collectors, and users through surveys and interviews to gather feedback and validate our approach.
• Technical Feasibility: Assess the integration of NMKR Dev API and local payment options, ensuring functionality, security, and scalability.
• Partnerships: Seek collaborations with local payment providers, artists, and relevant organizations to expand the ecosystem and integrate local payment options.

[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.

Milestone 1: Project Planning and Research (Duration: 2 weeks)

• Define project objectives and scope
• Conduct market research on NFT trends and demand in Ethiopia
• Identify target audience and user requirements
• Define key features and functionalities of the NFT marketplace
• Create a project plan and timeline

Milestone 2: Design and User Interface (Duration: 4 weeks)

• Develop wireframes and mockups for the NFT marketplace website
• Design a user-friendly interface for browsing, buying, and selling NFTs
• Incorporate Ethiopian cultural elements into the design, if desired
• Seek feedback from potential users and make necessary adjustments

Milestone 3: Front-end and Back-end Development (Duration: 10 weeks)

• Develop the front-end of the NFT marketplace website or application
• Implement user registration, authentication, and profile management features
• Build the back-end infrastructure to support NFT listings, transactions, and payments
• Integrate with external APIs for payment gateways and blockchain interactions

Milestone 4: Integration with NMKR APIs and payment integration (Duration: 4 weeks)

• Integrate with locally available payment options
• Implement necessary security measures and audit plugins
• Integrate with NMKR tools.

Milestone 5: Testing and Quality Assurance (Duration: 2 weeks)

• Conduct comprehensive testing of the NFT marketplace across different devices and platforms
• Identify and fix any bugs, glitches, or performance issues
• Perform security testing and vulnerability assessments
• Ensure compatibility with popular web browsers and mobile devices

Milestone 6: Deployment and Launch (Duration: 2 weeks)

• Deploy the NFT marketplace to a production environment
• Set up server infrastructure and database systems
• Conduct final rounds of testing and user acceptance testing
• Prepare marketing materials and promotional strategies
• Launch the NFT marketplace in Ethiopia

Milestone 7: Post-Launch Support and Maintenance (Ongoing)

• Provide ongoing technical support and maintenance for the NFT marketplace
• Monitor the platform for any issues and promptly address them
• Gather user feedback and implement improvements based on user needs
• Continuously update and optimize the platform based on market trends

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1: Project Planning and Research

Deliverables:

• Project objectives and scope document
• Market research report on NFT trends and demand in Ethiopia
• User requirements document
• Project plan and timeline

Outputs:

• Clear understanding of the project goals and scope
• Insight into the NFT market in Ethiopia
• Defined target audience and user needs
• Detailed project plan with milestones and timelines

Intended Outcomes:

• Well-defined project direction and goals
• Informed decision-making based on market research
• Clear understanding of user requirements and expectations
• Roadmap for the successful execution of the project

Milestone 2: Design and User Interface

Deliverables:

• Wireframes and mockups of the NFT marketplace
• User interface design incorporating Ethiopian cultural elements (if desired)

Outputs:

• Visual representation of the NFT marketplace layout and flow
• User-friendly interface design for easy navigation and interaction
• Incorporation of Ethiopian cultural elements (if desired) for a localized experience

Intended Outcomes:

• Clear visualization of the NFT marketplace's appearance and structure
• Enhanced user experience through intuitive design and navigation
• Representation of Ethiopian culture, if desired, to create a unique marketplace experience

Milestone 3: Smart Contract Development

Deliverables:

• Developed smart contracts for NFT creation, ownership, and transactions
• Security measures implemented within the smart contracts
• Integration of blockchain technology for NFT functionality

Outputs:

• Functional and secure smart contracts for NFT-related operations
• Integration with a suitable blockchain network (e.g., Ethereum or Binance Smart Chain)
• Tested and audited smart contracts to ensure reliability and security

Intended Outcomes:

• Secure and transparent NFT transactions through smart contracts
• Integration with a blockchain network for decentralized operations
• Confidence in the reliability and security of the smart contracts

Milestone 4: Front-end and Back-end Development

Deliverables:

• Front-end development of the NFT marketplace website or application
• User registration, authentication, and profile management features
• Back-end infrastructure for NFT listings, transactions, and payments
• Integration with external APIs for payment gateways and blockchain interactions

Outputs:

• Fully functional and visually appealing NFT marketplace website or application
• User registration and authentication system
• Backend infrastructure supporting NFT listings, transactions, and payments
• Integration with external services for smooth payment processing and blockchain interactions

Intended Outcomes:

• User-friendly and responsive NFT marketplace accessible on various devices
• Secure user registration and authentication process
• Seamless NFT listing, buying, and selling experience with integrated payment gateways
• Successful integration with blockchain technology for NFT operations

Milestone 5: Testing and Quality Assurance

Deliverables:

• Comprehensive testing report with identified bugs and issues
• Fixed bugs and glitches
• Security testing and vulnerability assessment report

Outputs:

• Thoroughly tested NFT marketplace with minimal bugs and glitches
• Enhanced security measures through vulnerability assessments
• Compatibility across different devices and browsers

Intended Outcomes:

• High-quality and reliable NFT marketplace with minimal technical issues
• Enhanced security measures to safeguard user information and transactions
• Seamless user experience on various devices and browsers

Milestone 6: Deployment and Launch

Deliverables:

• Deployed NFT marketplace in a production environment
• Server infrastructure and database systems set up
• Marketing materials and promotional strategies prepared

Outputs:

• Live and accessible NFT marketplace for users in Ethiopia
• Stable server infrastructure and database systems supporting the marketplace
• Marketing materials and strategies to attract users and promote the platform

Intended Outcomes:

• Successful deployment of the NFT marketplace for public access
• Stable and scalable infrastructure to support user interactions and growth
• Effective marketing efforts to attract users and drive platform adoption

Milestone 7: Post-Launch Support and Maintenance

Deliverables:

• Ongoing technical support and maintenance for the NFT marketplace
• Continuous monitoring and issue resolution
• User feedback and improvement implementation

Outputs:

• Timely technical support and issue resolution for marketplace users
• Regular monitoring and maintenance of the platform for optimal performance
• User feedback analysis and implementation of necessary improvements

Intended Outcomes:

• User satisfaction through prompt support and issue resolution
• Stable and reliable NFT marketplace through regular maintenance
• Continuous improvement based on user feedback and market trends

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

we have secured an interest-free loan for the onboarding of Artists to the NFT world from the AFRIKA Group (a Collective promoting decentralized technologies within Africa). The loan of 3,600 USD will be used for the marketing and onboarding expenses. Other expenses for the development are as follows:

Human Resources:

• Project Manager: 2000 ADA/month for 6 months = 12k ADA
• Lead Developer: 3000 ADA/month for 6 months = 18k ADA
• Junior developer: 1300 ADA/month for 6 months = 7.8k ADA

Infrastructure:

• Servers and Databases: $800 ~ 2700 ADA

Total Requested: 40,500 ADA

Marketing and Support team: 3,600 USD budgeted from secured loan

This includes events, support team, marketing, and training expenses that will be paid with the loan which has been secured.

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

With the low development cost we have locally as well as the loan we have secured, we expect we expect to deliver on this project with a very low fund from Catalyst, for the scale of the project. Our partnership with AfRIka Group, in addition to the loan, will support us in networking and access to artists within the continent.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept