Influxe - NFT Hub for Streamers & Influencers on Cardano

[GENERAL] Name and surname of main applicant

James Nguyen

[GENERAL] Email address of main applicant

jamesnguyen@var-meta.com

Additional applicants

Nha Tran - nhatran@var-meta.com

[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.”

While the frontend and some components of our project will be open source, the exclusive backend, which includes proprietary algorithms and specific community management tools, will remain closed source.

[METADATA] Category of Proposal

dApp

[IMPACT] Please describe your proposed solution.

Influxe is a platform that enables streamers and influencers to create and issue NFT collections, including generative and membership NFTs. Fans can purchase these NFTs on our marketplace and participate in exclusive community events on Discord and Telegram. Additionally, Influxe offers a crypto-based donation system for viewers to support their favorite creators.

Features:

• NFT Creation: Streamers and influencers can create and issue NFT collections, including generative and membership NFTs, using Plutus smart contract. (https://cardano.com.vn/cardano-portal/tim-hieu-ve-plutus.html)
• Marketplace: Users can buy, sell, and trade NFTs on our platform, fostering a vibrant and active community around content creators and their fans.
• Community Management: Influxe will offer tools for streamers and influencers to manage their Discord and Telegram communities, ensuring that only NFT holders can access exclusive channels and events.
• Crypto Donations: Viewers can support their favorite creators by donating cryptocurrency, with donation information displayed during live streams.

Technology Stack: Influxe will be built using Plutus for smart contracts for the underlying blockchain, and a combination of React and Node.js for the frontend and backend.

[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 comprehensive NFT platform tailored for content creators, with features that enable them to create and manage NFT collections, monetize their content, and effectively engage with their fan communities. This will bring several benefits to the Cardano ecosystem:

• User growth: By attracting influencers, streamers, and their fans, our platform will drive user growth within the Cardano ecosystem, contributing to its overall adoption and popularity.
• NFT adoption: As content creators issue NFTs on Cardano, this will showcase the blockchain's capabilities for handling NFTs, decentralized applications, and smart contracts, enhancing its reputation as a versatile and scalable solution.
• ADA demand: By facilitating ADA-based transactions for NFT trading and donations to content creators, our platform will increase the demand for ADA, strengthening its position in the cryptocurrency market.
• Innovation: Our platform will serve as a real-world use case for the Cardano blockchain, inspiring other developers and entrepreneurs to explore new applications and possibilities within the ecosystem. This will encourage further innovation and competitive advancements in the blockchain space.

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

We intend to measure the success of our project using the following Key Performance Indicators (KPIs):

• User growth: Tracking the number of new users, including content creators and fans, who join the platform.
• NFT creations: Monitoring the number of NFT collections created by content creators on the platform.
• Marketplace transactions: Evaluating the volume and value of NFT transactions on the platform's marketplace.
• Community engagement: Measuring the level of activity and engagement within the platform's integrated Discord and Telegram communities managed by content creators.
• Crypto donations: Quantifying the amount of cryptocurrency donations, particularly in ADA, received by content creators through the platform.

These KPIs will help us assess the project's impact on the Cardano ecosystem and guide us in making necessary improvements to better serve our users and the community.

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

We have a comprehensive plan to share the outputs and results of our NFT platform project with various stakeholders:

• Documentation: We will create detailed documentation outlining the development process, technical specifications, and implementation details of our platform. This documentation will be made publicly available, allowing interested individuals and organizations to understand the project's methodology and outcomes.

• Open-Source Repository: We will publish the source code of the platform's frontend and selected components on a public open-source repository. This enables developers and researchers to access and contribute to the project, fostering collaboration and further innovation.

• Project Website: We will establish a dedicated project website that provides comprehensive information about our NFT platform. This website will serve as a central hub for sharing updates, progress reports, and relevant resources related to the project.

• Social Media and Blog Posts: We will utilize social media platforms and blog posts to share project updates, milestones, and significant achievements. These channels will allow us to reach a broader audience and engage with the Cardano community and content creators.

• Community Engagement: We will actively participate in relevant forums, discussion groups, and community events to present and share the outcomes of our project. This provides an opportunity to receive feedback, address questions, and foster dialogue with the community.

• Collaboration with Influencers and Industry Organizations: We plan to collaborate with influencers, streamers, and industry organizations to raise awareness about our platform and explore potential partnerships to further expand its reach and impact.

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

Our team has already successfully developed and deployed an NFT creation platform on EVM and Cardano, which can be accessed at https://var-nft-generator.vercel.app/. ↗ This demonstrates our capability to deliver high-quality projects within the blockchain ecosystem, ensuring trust and accountability.

Our ability to maintain these standards is grounded in:

• Experienced team: Our team comprises skilled professionals with diverse backgrounds in software development, blockchain technology, UI/UX design, marketing, and project management, which enables us to take a well-rounded approach to project execution.

• Proven track record: The successful deployment of the NFT creation platform on both EVM and Cardano showcases our experience and expertise in the field, and highlights our commitment to delivering high-quality projects.

• Transparent communication: We believe in maintaining open and transparent communication with all stakeholders, including the blockchain community, throughout the project's development. Regular updates, progress reports, and community engagement activities will ensure accountability and foster trust.

• Community engagement: We actively participate in and contribute to blockchain communities, gathering insights and feedback to ensure that our solutions cater to the needs of users and positively impact the ecosystem.

• Adherence to timelines: Our team is committed to meeting project deadlines and delivering solutions on time, which is crucial for maintaining trust and accountability with our stakeholders.

By leveraging our team's expertise, adopting best practices, and maintaining open communication, we are confident in our capability to deliver projects with high levels of trust and accountability.

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

Goal 1:

• Develop a user-friendly and accessible platform for NFTs creating, community managing, and donating within a community on the Cardano blockchain.

Validation:

• Feedback Analysis: Gather user feedback and opinions to assess their satisfaction with the platform and identify areas for improvement.
• Adoption Rate: Measure the number of users actively engaging in NFT creation, management, and donation activities through the platform to validate its appeal and adoption.

Goal 2:

• Foster community engagement and collaboration by connecting streamers, viewers, and game enthusiasts through the platform.

Validation:

• Community Participation: Monitor the level of engagement, active discussions, and collaborations among community members facilitated by the platform.
• Stakeholder Feedback: Gather feedback and opinions from streamers, viewers, and the Cardano community on their experience with the platform and its impact on their participation in the ecosystem.

Goal 3:

• Enhance inclusivity and diversity in the NFT space by lowering barriers to entry for artists, creators, and supporters.

Validation:

• Accessibility Metrics: Measure the number of users without technical expertise who successfully engage in NFT creation, management, and donation activities on the platform to validate its accessibility.

By setting clear goals involve both quantitative and qualitative measurements, we will be able to deliver a high-quality NFT creation platform that meets the needs of creators and collectors in 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.

Timeline: 6 months

Milestone 1: 3 months (Q3+Q4/2023)

• NFT Creation and Marketplace.

Milestone 2: 2 months (Q4/2023)

• Community Management.

Milestone 3: 1 month (Q1/2024)

• Crypto Donations.

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

Milestone 1: NFT Creation and Marketplace

• Customizable NFT templates: Allow streamers and influencers to choose from a variety of templates or create their own unique designs for their NFT collections.
• Metadata management: Enable creators to add and edit metadata for collection, including descriptions, rarity levels, and other attributes.
• Generative NFTs: Provide tools for creating algorithmically generated NFTs, allowing for unique and diverse collections.
• Membership NFTs: Enable the creation of NFTs that grant access to exclusive content, events, or communities.
• Minting: Implement a user-friendly interface for minting and issuing NFTs, with options for limited editions and timed releases. Users can customize various layers and attributes of the NFTs.
• Search and filtering: Implement advanced search and filtering options, allowing users to find specific NFTs based on criteria such as creator, rarity, or price.
• Direct sales: Allow users to buy NFTs at fixed prices, with support for multiple cryptocurrencies.
• Exchange: Enable users to buy and sell NFTs, with options for reserve prices, time limits, and other customizable settings.
• Activity feed and notifications: Keep users informed about new listings, bids, and sales through an activity feed and customizable notifications.

Milestone 2: Community Management

• Role-based access control: Enable streamers and influencers to assign roles to their community members based on their NFT holdings, granting access to exclusive channels and events.
• Automated verification: Implement a system to automatically verify NFT ownership, ensuring that only eligible members can access exclusive content and participate in events.
• Event management: Provide an event management system that uses QR codes and NFTs to verify user access to a live event.
• Analytics and insights: Provide creators with data on community engagement, NFT ownership, and event participation, helping them make informed decisions about their content and community strategies.
• Notifications and announcements: Enable streamers and influencers to send targeted notifications and announcements to their community members, keeping them informed about new content, events, and updates.

Milestone 3: Crypto Donations

• Low transaction fees: Cryptocurrency transactions typically have lower fees compared to traditional payment methods, such as credit cards or PayPal. This means that a larger portion of the donation goes directly to the content creator, rather than being lost to fees.
• Global accessibility: Cryptocurrencies are accessible to anyone with an internet connection, making it easy for fans from around the world to support their favorite creators. This can help creators reach a wider audience and receive support from a diverse range of fans.
• Real-time donations: Crypto donations can be processed and displayed in real-time during live streams, allowing content creators to acknowledge and thank their supporters immediately. This can help foster a stronger connection between creators and their fans.

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

Total: 192,000 USD ~ 666,000 ADA

Milestone 1: 96,000 USD ~ 333,000 ADA

Milestone 2: 64,000 USD ~ 222,000 ADA

Milestone 3: 32,000 USD ~ 111,000 ADA

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

• Community Growth & Engagement: By creating a user-friendly platform focused on NFT creation, management, and donation, the project will drive community engagement and growth within the Cardano ecosystem. This increased engagement will ultimately lead to a more vibrant and active community, which in turn will attract new users, artists, and collectors to the Cardano blockchain.
• Enhancing the Gaming Experience: The platform's streamlined and secure donation system will improve the gaming experience for streamers and viewers on the Cardano blockchain. By making it easy for users to donate NFTs during game streaming events, the project will encourage more streamers to adopt the Cardano platform for hosting their gaming events.
• Platform Utility: The platform will provide a versatile and easy-to-use solution for creating, managing, and donating NFTs on the Cardano blockchain. By making it simpler for users to interact with NFTs, the platform will increase the overall utility of Cardano-based NFTs, potentially leading to increased adoption and demand for Cardano-based projects and tokens.
• Positive Market Impact: The project's focus on community management, NFT creation, and donation features may lead to increased trading volumes, liquidity, and market activity for Cardano-based NFTs. This positive market impact can enhance the overall value of the Cardano ecosystem.

In summary, the cost of the project represents value for money by delivering a platform that fosters community growth, increases utility, and has a positive market impact on the Cardano ecosystem. The efficient use of resources and the adoption of existing standards and infrastructure further ensure that the investment in the project is well-justified and beneficial for the Cardano ecosystem.

[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