Smart Places: Real-World Utility for Businesses with Location-Based NFT Incentives

[GENERAL] Name and surname of main applicant

Matt Rich - Smart Places

[GENERAL] Email address of main applicant

matt@smartplacesprotocol.io

Additional applicants

n/a

[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?

No

[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.”

No Dependencies

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

No

[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 proposal is based on NMKR and their minting infrastructure. All outputs must be discussed with NMKR prior to releasing open source.

[METADATA] Category of proposal

NFTs

[METADATA] SDG rating

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

[IMPACT] Please describe your proposed solution.

Create an intuitive platform for businesses to attract customers effectively, by utilizing location-based incentivized NFTs, enhancing engagement and foot traffic to their establishments.

Detailed:

Our proposed solution addresses the problem of limited precision and high costs in traditional marketing methods, particularly for small business developers. 

We recognize that businesses often struggle to target customers in local areas efficiently and effectively, resulting in inefficient and costly marketing campaigns. 

To tackle this challenge, our proposed solution combines location-based targeting and incentivized NFTs. This approach enables businesses to reach their local customers efficiently, increase foot traffic, reduces costs, and provide businesses with a competitive edge. 

1. Businesses can attract and retain customers more efficiently and cost-effectively by offering innovative and personalized incentives through NFT

1. Customers benefit from access to unique experiences and personalized incentives tied to real-world businesses, enhancing their engagement and overall experience. 

Our solution is particularly important to Cardano as it aligns with the platform's vision of practical use cases for blockchain technology. By introducing businesses and users to the power of NFTs and their real-life utility, we contribute to the expansion and attractiveness of the Cardano ecosystem. This drives adoption, encourages innovation, and creates new opportunities for businesses and individuals within the Cardano community. To demonstrate the impact of our solution, we will track key metrics such as the number of businesses onboarded, NFTs minted, user engagement, and feedback. Through user testimonials, feedback surveys, and data analysis, we will showcase the tangible benefits experienced by businesses and the enhanced engagement and value derived by customers. This evidence will serve as proof of the effectiveness and relevance of our solution within the Cardano ecosystem.

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

The proposal addresses the challenge by utilizing NMKR's API and their minting infrastructure.

Increased Adoption and Engagement: By providing businesses with an accessible and cost-effective solution to engage their target audience, our solution will attract new businesses to the Cardano ecosystem. This increased adoption and engagement will contribute to the growth and vibrancy of the ecosystem.

Increased Foot Traffic and Business Growth: By enabling businesses to target and attract customers to their establishments effectively, we anticipate an increase in foot traffic and business growth. This will have a positive impact on the local economy and the overall success of businesses within the Cardano ecosystem.

In terms of quantifiable impact, we expect to onboard a significant number of businesses to our platform. Additionally, we anticipate a substantial increase in the number of NFTs minted and transactions conducted through the Cardano ecosystem. While the exact numbers will depend on market conditions and user adoption rates, we aim to achieve meaningful usage and engagement levels that demonstrate the value and scalability of our solution.

Overall, our project brings tangible value to the Cardano ecosystem by addressing a key problem, driving adoption, expanding the NFT ecosystem, enhancing user experience, and supporting business growth.

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

To measure the success of our project, we will employ a combination of different metrics to assess the benefits for the Cardano ecosystem:

Adoption and Usage: We will track the number of businesses onboarded onto the Smart Places platform, as well as the volume of transactions and usage of location-based incentivized NFTs on Cardano. These metrics demonstrate the level of adoption and engagement among businesses and users within the ecosystem.

User Feedback: Gathering qualitative data through user feedback and opinions will provide insights into user satisfaction, ease of use, and the perceived value of the Smart Places platform. This feedback will help us iterate and improve the platform based on user needs and preferences.

In the short term, our project will contribute to increased transaction volume on the Cardano blockchain, showcasing its productivity and usage. The introduction of innovative incentives and engagement tools will attract new users, expanding the Cardano community and fostering short-term growth.

In the long term, the successful implementation of a Social Media platform on Cardano has the potential to attract hundreds of thousands of businesses and millions of users. This increased adoption would lead to a significant boost in Cardano's transaction volume, an increase in the minting of NFTs, and the mass onboarding of new users.

By monitoring these metrics, we can assess the impact and success of our project, making informed decisions to improve and optimize the Smart Places platform for the benefit of the Cardano ecosystem.

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

Communication Channels: We have well-established communication channels and social media presence to regularly share updates, project milestones, and key findings. These channels will serve as a hub for distributing information to the Cardano community, stakeholders, and interested parties.

Collaborations and Partnerships: We will actively seek collaborations and partnerships with organizations & businesses. We will share our experience and findings to help projects easier establish relations with traditional businesses. This would lead to new opportunities and further growth in an important area for the Cardano ecosystem, as well as developments of Smart Places.

This approach will foster collaboration, knowledge sharing, and further research and development activities that contribute to the long-term growth and success of the Cardano ecosystem.

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

Our existing capabilities and track record demonstrates our ability to deliver this project with high levels of trust and accountability. Here are the reasons why we believe we are best suited for this endeavour:

Proven Platform: We successfully developed and launched our NFT-minting map over a year ago, gaining significant traction with over 13,000 NFTs sold. The popularity of our platform showcases the trust and confidence that users have in our solution. https://map.smart-places.io

Technical Competence: Our team possesses strong technical expertise in development, maintenance, support, and user engagement. We have a proven track record of delivering robust and reliable solutions, ensuring a smooth and seamless user experience.

Financial Management: We have established stringent processes and measures to ensure proper fund management. This includes hardware wallets as we prioritize the security and integrity of funds entrusted to us.

Community Engagement: We have actively engaged with our user community, fostering open communication, addressing concerns, and providing timely support. This demonstrates our commitment to building trust, fostering a collaborative environment, and delivering value to our users.

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

Our project aims to increase business adoption and utilization of Cardano NFTs through the Smart Places platform. We have four main goals:

1. Location-Based Incentivized NFTs: Our goal is to onboard at least 500 businesses onto the platform within the first year. We will measure success by tracking the number of businesses registered and actively using the platform, and by conducting surveys and interviews to assess their satisfaction and perceived value.
2. Enhance User Engagement and Value: We aim to achieve a minimum of 10,000 monthly active users within the first year. Success will be measured by tracking user engagement, analyzing behaviour such as transaction frequency and interaction with location-based NFTs, and collecting user feedback.
3. Drive Foot Traffic and Customer Acquisition for Businesses: We aim to increase foot traffic to physical locations for businesses utilizing NFTs with real-world utility (discounts, loyalty & bonuses, memberships etc)
4. Foster Collaboration and Partnerships: We plan to establish collaborations with businesses and/or organizations within the Cardano ecosystem. Success will be documented and showcased through successful collaborations, integrations, and partners' feedback.

To achieve these goals, we will leverage our existing system and incorporate location-based incentivized NFT functionality. We will conduct thorough software development and testing processes to ensure a robust and user-friendly platform, implementing regular updates, bug fixes, and feature enhancements based on user feedback and market demands.

[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.

• Concept and Customer Journey UX/UI

Time: 4 weeks

Budget: 25.000 ADA

Resources: PO/PM, Enterp. Arch., Solution Archit. UX, UI 

• Backend Development and Architecture
• Registration and Administration Backend
• Business Activities (NFT customizing and geo-location / placement of NFTs)
• Integration NMKR API / Businesses mint NFTs
• Integration Payment Gateway (for Fiat and ADA)
• NFT pre-creation / design: NFT Business Customization Admin
• Ongoing PM and Testing

Time: 10 weeks

Budget: 30.000 ADA

Resources: PO/PM, DevOps., Developer 

• Frontend Development
• Registration platform for businesses
• Business Activities Management 
• Payment Gateway
• NFT Creation Studio
• Ongoing UI/UX Changes / Adaptions

Time: 6 weeks

Effort: 25.000 ADA

Resources: PO/PM, Solution Archit. UX, UI, Developer 

• Testing / Go Live

Time: 4 weeks

Budget: 10.000 ADA

Resources: PO/PM, Team Testing

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

1) Concept and Customer Journey UX/UI:

Deliverables:

• User Flows: Basic visual representation of the steps businesses will take when interacting with the platform.
• Wireframes: Basic visual representation illustrating the main structure and layout-examples of the product and showing arrangements of features and functionality.

Outputs:

• Visual representations of user flows and wireframes

Intended Outcomes: 

• Visualizations for producing marketing materials for starting talks with Businesses and preparing / initiating the onboarding process. 

2) Backend Development and Architecture

• Registration and Administration Backend
• Business Activities (NFT customizing and geo-location / placement of NFTs)
• Integration NMKR API / Businesses mint NFTs
• Integration Payment Gateway (for Fiat and ADA)
• NFT pre-creation / design: NFT Business Customization Admin
• OnGoing PM and Testing

Deliverables:

• Backend development including the logic and infrastructure required by the front-end developers 

Outputs

• Necessary logic, functionality, and infrastructure that the frontend requires to deliver a complete and interactive user experience. 
• Intended Outcome
• Fully functional backend of the platform

3) Frontend Development

• Registration platform for businesses
• Business Activities Management 
• Payment Gateway
• NFT Creation Studio
• OnGoing UI/UX Changes / Adaptions

Deliverables:

• Front-end development including integration of backend
• Registration and administration of Businesses
• NFT administration (including creation and placement on locations)

Outputs:

• Fully functional platform for registering businesses and NFT administration, including user interface.

Intended Outcomes:

• Fully functional platform

4) Testing / Go Live

   

Deliverables:

• Functioning test environment (testnet) for simulating NFT creation & placement
• Feedback and suggestions from testing groups.

Outputs:

• Enable businesses to easily access the platform and to create and manage their NFTs in order to target users 
• Enhanced real-life NFT utility.

Intended Outcomes: 

• Public launch of fully functional platform

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

Concept and Customer Journey UX/UI

Time: 4 weeks

Effort: 7500 USD

PO/PM, Enterp. Arch., Solution Archit. UX, UI 

Backend Development and Architecture

Time: 10 weeks

Effort: 9000 USD

PO/PM, DevOps., Developer 

Frontend Development

Time: 6 weeks

Effort: 7500 USD

PO/PM, Solution Archit. UX, UI, Developer 

Testnet & mainnet

Time: 4 weeks

Effort: 3000 USD

PO/PM, Team Testing

Calculations are based on ADA price at $0.3

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

The cost of the project represents value for money for the Cardano ecosystem due to the following factors:

Enhanced Participation of businesses:

The platform invites businesses to onboard to the ecosystem and to actively engage in NFT-creations. This increased participation contributes to the overall attractivity of the Cardano DeFi ecosystem. By providing an accessible and user-friendly platform, it attracts a wider range of businesses and at the same time increases the attention of users for NFTs of businesses.

Ecosystem Expansion: The created NFTs with real-life utility can be utilized by various users within the Cardano community and beyond. NFTs with real-life utility encourages new projects to join and leverage the Cardano ecosystem.

Community Collaboration: Since the NFT-creation is not limited to businesses but also invites other projects of the Cardano ecosystem, it facilitates partnerships and joint initiatives between projects and community members.

[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