NEWM - Stream Token Analytics Integration

[GENERAL] Name and Surname of Main Applicant

NEWM (Florian Pittini / Ryan Jones)

[GENERAL] Email address of Main Applicant

catalyst@newm.io

Additional Applicants

Andrew Westberg (CTO), Tiziana Pittini (CPO)

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

12

[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.” in this field.

We have the music expertise, but providing such an analytics platform for the blockchain data requires a different type of knowledge. We would like to work collaboratively with another Cardano-based project that has already built the infrastructure to perform these analytics and integrate with our app. 

[GENERAL] Will your project outputs 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.” in this field.

Everything we (NEWM) develop will be open source. However, we cannot speak to our prospective partner’s part; it depends on their strategy.

[METADATA] Category of Proposal

Data tools

[IMPACT] Please describe your proposed solution.

WHAT IS NEWM – The Holistic Vision

Founded on the driving values of transparency, innovation and fairness, NEWM has been taking on the predatory financial structures that govern the music industry by building an all-in-one, Cardano-based product suite for musicians to directly monetize their digital content, and listeners to interact and connect with music like never before. 

Our full product offering includes, but is not limited to:

What Are Stream Tokens?

Stream Tokens are Fungible Tokens(FTs) that reflect streaming royalty rights (percentages) for songs. They are created from NEWM’s innovative NFT use case that creates a legal proof-of-ownership contract. Stream Tokens enable musicians to sell their streaming royalty rights directly to listeners, and in turn, they make upfront revenue from their music content and listeners can earn streaming royalties from their favourite music.

Why Analytics Are Necessary for Success

Stream Token holders require comprehensive tools to navigate the world of music analytics, optimize their strategies and leverage their tokens. Our solution is a comprehensive analytics platform specifically designed to meet these needs.

At the core of the platform is a detailed song-data tool. This allows users to track the distribution of Stream Tokens across wallets for each individual song. Moreover, it provides access to a vast range of song-related data. This includes detailed streaming statistics, a geographic breakdown of listeners, popular platforms for streaming, user-engagement metrics, and demographic insights.

However, the platform's features extend far beyond mere data collection. It integrates predictive-analytics tools, enabling users to anticipate future trends, shifts in listener demographics, and potential streaming hotspots based on past and current data.

The platform is also equipped with robust reporting tools. These generate detailed reports on key metrics, streamlining the process of sharing insights and findings with team members or stakeholders.

Finally, understanding the importance of data security, our platform ensures all user information is kept secure and confidential. Strong encryption protocols are implemented to protect sensitive information.

In summary, the Stream Token Analytics Platform is an all-encompassing solution for Stream Token holders. With its user-friendly design and wide array of advanced features, it empowers users to effectively manage their digital music assets, make informed decisions and create successful marketing strategies.

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

Our proposed solution addresses the challenge by providing a powerful, user-friendly analytics platform for stream token holders. It offers robust data collection, analysis, and visualization tools, enabling users to understand the performance and potential of their music assets.

The platform directly addresses the need for detailed song data, predictive analytics, sentiment analysis and comprehensive reporting tools. By packaging these features in an intuitive, easy-to-use interface, we improve our product by helping users leverage the full potential of their Stream Tokens.

Our solution brings several significant benefits to the Cardano ecosystem:

1. Advanced Analytics: By integrating complex data analytics capabilities into the Cardano ecosystem, we enable users to make more informed decisions about their Stream Tokens based on a rich array of data.
2. Enhanced User Experience: Our platform's user-friendly interface and robust functionalities simplify the analysis process, making it more accessible to users of all skill levels.
3. Data-Driven Decision Making: The tools this platform provides for predictive analysis empower users to make data-driven decisions, optimizing their strategies for maximum success.
4. Improved Security: By implementing robust security features, the platform contributes to the overall security of the Cardano ecosystem, ensuring the privacy and safety of user data.
5. Greater Transparency: Our platform fosters greater transparency in the music industry by allowing all stakeholders to view and analyze the performance and potential of individual songs represented by Stream Tokens.
6. Economic Growth: By empowering Stream Token holders with actionable insights, this platform can contribute to economic growth within the Cardano ecosystem.

In summary, this platform not only addresses the immediate needs of Stream Token holders, but also brings substantial benefits to the broader Cardano ecosystem. By enabling informed, data-driven decision-making, we can help drive the growth and success of the Cardano ecosystem.

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

The success of our project will be determined by a range of both quantitative and qualitative metrics:

We will first look at user adoption – tracking the number of new sign-ups, active users, and returning users. This will give us a clear picture of how well our solution is being received and utilized within the community.

We will also gauge user engagement. We want to understand not just how many users, but the ways in which our users are interacting with the platform to gain deeper insights into the effectiveness of features and usability – average session duration, pages viewed per session, and specific user actions like the generating reports or analysis of tokens.

User feedback and reviews will play a significant role in measuring our project's success. By actively encouraging users to leave reviews and complete feedback surveys, we aim to understand their level of satisfaction, the usability of the platform, and the areas where they see room for improvement.

Finally, our ultimate goal is to create a positive impact on the Cardano ecosystem. Therefore, we will evaluate indicators such as the increase in Stream Token usage, growth in music assets held and enhanced support for artists. We will continuously monitor and assess these success metrics, using the insights gathered to refine and improve. 

This approach will ensure that our platform continues to meet the needs of its users and contribute positively to the Cardano ecosystem.

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

Everything we are building is open source, and with transparency as one of our driving values, we consistently share our successes, failures, strengths and shortcomings publicly. We will continue to share output and results on overall product development, future funded proposals and previously funded Project Catalyst proposals (Fund9) the way we are sharing them now:

• Public reporting of milestone statuses – Discord, Twitter, Telegram, Newsletter, Youtube 
• Conferences and events – Public speaking events or recorded interviews
• Community lives and AMAs during the development process – Weekly Twitter Spaces and sporadic AMA events on specific topics in Discord
• Survey and poll reports from user feedback – Public community votes and UX research
• Catalyst landing page – We have a dedicated Project Catalyst landing page on the newm.io website where users can review our funded proposals and track progress – newm.io/catalyst
• Youtube Founders’ Outlook – Casual chat between our Founders about previous year and year to come
• Nerd Out Youtube Channel – Andrew Westberg’s personal Youtube channel where he discusses Cardano development in-depth

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

Our team has consistently demonstrated a strong capacity to deliver complex projects with high levels of accountability, transparency and adaptability as evidenced by our track record of successfully managed and executed Catalyst proposals, as well as quarterly NEWM Community Governance votes that directly affect $NEWM token holders, and strategic partnerships driven by community needs. Our commitment to meeting project goals within defined timelines and budgets sets a precedent of dependability.

A noteworthy accomplishment from our Fund 9 proposals was the completion and delivery of the Kogmios Library that allows Kotlin access to low-level Cardano blockchain data. That project was developed alongside our release of the tokenization and fractionalization contracts, allowing NEWM to tokenize music streaming royalty rights and fractionalize them for distribution and sales. NEWM is currently continuing development and enhancement of the original smart contracts using Aiken.

Accountability & Transparency

Our commitment to transparency has strengthened our standing as an accountable team. We maintain and nurture open lines of communication through all of our community channels, and support a culture of mindful listening where community members feel heard. 

We also consistently share our code and development progress with the wider ecosystem, underscoring our dedication to open source principles and community engagement. This level of openness encourages community feedback and critique, enabling continuous improvement and bolstering the reliability of our software. We invite you to review our work through our Github repository: https://github.com/projectNEWM

Adaptability

We are privileged to have a team of experts, contributing their unique skills to our projects and proposals. From seasoned developers to our exceptional content team, their combined capabilities allow us to tackle diverse challenges effectively.

Furthermore, we place a high emphasis on community engagement and project management. We consistently provide updates and respond to community feedback, adapting to roadmap changes where there are gaps in the community – e.g., delivering recorstore.newm.io project. Past adherence to defined timelines and budgets demonstrates our commitment to efficient resource management – e.g., Kogmios Library delivered from our Catalyst proposal in Fund 9.

In summary, our past Fund9 proposal deliveries, research and development on tokenization and fractionalization, decentralized queues, and order-book marketplaces, our team expertise, combined with our proven track record of accountability, transparency and adaptability ensure our capability to successfully execute projects with high levels of trust.

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

1. Develop a Comprehensive Analytics Platform: We aim to build a platform that provides detailed song data, predictive analytics, and robust reporting tools. This platform should make it easy for Stream Token holders to understand the performance and potential of their music assets.
2. Ensure User-Friendly Experience: The platform should have an intuitive and user-friendly interface, making it accessible to users of all skill levels.
3. Strengthen Data Security: With the rise of cybersecurity threats, ensuring the privacy and safety of user data is paramount. 
4. Benefit the Cardano Ecosystem: Ultimately, our goal is to contribute to the Cardano ecosystem's growth. This can be measured by an increase in Stream Token usage, growth in music assets and enhanced support for artists.

To validate the feasibility of our approach, we will use a combination of prototyping, user testing, and continuous feedback.

1. Prototyping: We will develop and release a Minimum Viable Product (MVP) of the platform to validate our technical approach and assess the functionality of features.
2. User Testing: We will conduct user testing with a diverse group of Stream Token holders, helping us determine the platform's usability, identify any issues or gaps, and gather suggestions for improvements.
3. Continuous Feedback Loops: As we have demonstrated in the past with our transparency in code delivery, we believe in open communication and continuous feedback. We will share our progress with the community, seek their input, and use their feedback to consistently improve and validate the platform.

These approaches will allow us to test the feasibility of our project goals, iteratively improve our platform based on user needs and feedback, and ultimately deliver a product that adds significant value to the Cardano ecosystem.

[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.

1. Technology Feasibility Research - 15h: This involves a comprehensive review of the required technologies for this platform – researching potential partners, various frameworks, libraries, and tools that can be used, and evaluating their feasibility based on factors like scalability, security, compatibility with existing systems, and ease of use. 
2. UX/UI Design Draft - 15h: Create preliminary design mock-ups for the platform's user interface, including sketches of the platform layout, navigation menus and visual elements. 
3. UX/UI research - 29h: Conduct extensive user experience research to better understand user needs, preferences and pain points. This could involve surveys, interviews, and usability tests with potential users. 
4. UX/UI Design Finalized - 43h: Using the insights gained from the UX/UI research, we'll refine our design mock-ups and develop a prototype of the platform's user interface. 
5. Back-End Implementation - 252h: Our development team (or a partner’s) will start building the back end of the platform. This will involve setting up servers, databases, APIs and implementing the logic for the platform's functionalities like data collection, analysis tools and reporting features. 
6. Front-End Implementation - 477h: Parallel to the backend, our team will work on the front-end development, coding the visual elements that users interact with, ensuring the front end aligns with the finalized UX/UI design. 
7. Quality-Control Stage - 171h: Once the back-end and front-end implementation is complete, we will enter the quality-control stage, rigorously testing the platform for any bugs, errors or usability issues. 
8. User Product Testing - 102h: The platform will be tested by a diverse group of users, gathering their feedback regarding usability, relevance of features and any issues they encounter. 
9. Implement Improvements Front/Back - 205h: Based on the feedback from the user product testing and quality-control report, our team will implement necessary improvements to both the front end and back end. 
10. Bug fixing - 146h: Lastly, focus on resolving any remaining bugs or issues in the platform to ensure a smooth user experience. 

Each milestone is carefully designed to ensure that the final product is user-friendly, technically-sound, and effectively meets the needs of Stream Token holders.

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

1. Technology Feasibility Research - Report: The findings will be compiled into a detailed report.
2. UX/UI Design Draft - Mock-ups: These designs will be guided by our focus on user-friendliness and simplicity.
3. UX/UI Research - Report:  Based on these insights, we'll compile a report that will inform our final design decisions.
4. UX/UI Design Finalized - Prototype: This prototype will provide a tangible visualization of the platform and allow for preliminary user testing.
5. Back-End Implementation - Github: The progress will be regularly updated on GitHub.
6. Front-End Implementation - Github: Updates will be pushed to our GitHub repository.
7. Quality-Control stage - Report: The testing outcomes will be compiled in a detailed quality control report.
8. User Product Testing - Report: Feedback will be compiled in a report to guide further improvements.
9. Implement Improvements Front/Back - Github: The changes will be committed to our GitHub repository.
10. Bug Fixing - Github: All bug fixes will be updated on GitHub.

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

Please note that each line item includes overhead operational, product management & project management costs to coordinate the product development and for filling out forms and reporting milestones to the Project Catalyst F10 teams – due to the friction we experienced the last time we received funding. We used a conversion rate of 0.165 ADA per USD due to the high volatility, plus a detailed analysis of historical price movements show that the low might be in at around 0.20 cents, but there is no support line after that until around 0.13 cents, so we used the average of both.

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

Focusing on mass adoption should be the main goal of the Cardano ecosystem to have a killer app who drives the musician and fans to Cardano to be able to increase the overall usage of the Cardano ecosystem. Having a data analytic tool for this app is an additional feature which will drive the usage of this app and support the mass adoption of the NEWM ecosystem which will lead directly to an mass adoption of Cardano.

[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