Nucast : NuDynamic Ticketing - A Revolutionary Cardano-based Events Ticketing Solution

[GENERAL] Name and surname of main applicant

Sricharan Ganta (nucast)

[GENERAL] Email address of main applicant

charan@nucast.io

Additional applicants

Sam Jeffery // sam@nucast.io

Nucast Labs

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

3

[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.”

In the early stages of the project, resources such as time, manpower, and funding are often limited. Open-sourcing a project requires additional effort in terms of managing the community, addressing issues, and integrating external contributions. It may be more efficient to focus on developing a robust and functional product before considering open-sourcing. We do have plans to eventually opensource the protocol.

[METADATA] Category of Proposal

NFTs

[METADATA] SDG rating

SDG Goals

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

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

17 - Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development

SDG Subgoals

17.19 - By 2030, build on existing initiatives to develop measurements of progress on sustainable development that complement gross domestic product, and support statistical capacity-building in developing countries

17.3 - Mobilize additional financial resources for developing countries from multiple sources

9.1 - Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

9.3 - Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

9.b - Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities

[IMPACT] Please describe your proposed solution.

nuDynamic Tickets revolutionizes the management of events that require ticket access by utilizing NFTs to provide verifiable authenticity and real-time updates on ticket status. This groundbreaking system ensures a seamless and foolproof experience for both event attendees and organizers.

With a simple login to the Nucast Ticketing platform, users can easily view their purchased tickets. By clicking a button, users can instantly access an entry QR code before attending the event. As tickets are utilized, the state of the NFTs transitions from "unused" to "claimed" by linking the NFT's state identifier, stored within its metadata, to an updated status.

Nucast's Ticketing platform serves event attendees and organizers, offering an uncomplicated, secure experience. Attendees can effortlessly browse and buy tickets, while organizers can utilize a specialized app for NFT ticket creation, management, entry-point authenticity verification, and to tap into new revenue opportunities."

We are thrilled to announce that Nucast Ticketing is partnering with the Cardano Foundation to enable ticketing for community events for Cardano Summit 2023. We have also been selected as the official community partner for conducting the Cardano Summit in India. As the community partner, we will leverage our decentralized live streaming protocol to provide a seamless and immersive live streaming experience for the summit attendees and ticket holders.

Understanding nuDynamic Tickets: A New Approach to Event Access

nuDynamic Tickets ushers in a game-changing edge for ticket-required events. Using NFTs, the system ensures immediate ticket status updates, creating a flawless, streamlined experience for both participants and hosts.

Once logged into the Nucast Ticketing platform, users can swiftly view their purchased tickets. A simple click reveals an entry QR code for the event. As tickets are redeemed, the NFT's status switches from 'unused' to 'claimed', updating the state identifier embedded in its metadata."

Here's how the Stages system works:

1. Ticket Purchase: Users purchase a ticket through the Nucast Ticketing platform, at this stage, the ticket status is "New."
2. QR Code Claiming: Users claim their entry QR code with a simple action- Download QR/Send to email, causing the ticket status to update to "QR Claimed."
3. Event Entry: At the event point-of-entry, users present their QR code for scanning by event/host staff. Once scanned, the ticket status updates to "Used."

This innovative system goes far beyond basic ticketing. With nuDynamic Tickets, event organizers can offer additional benefits such as lifetime perks, merchandise discounts, and special rewards, enhancing the overall event experience.

Medium Article : https://medium.com/@nucastcardano/introducing-nucast-ticketing-revolutionizing-event-access-with-nudynamic-tickets-92149f960596

The Power of NFTs: A Solution to Traditional Ticketing Issues

NFTs offer significant advantages in addressing traditional ticketing challenges, including fraud, scalping, and counterfeiting. By securely storing tickets on the blockchain, NFTs provide unparalleled authenticity and integrity compared to physical tickets.

1. Eliminating Scalping: NFTs put an end to scalping practices that contribute to a multi-billion dollar ticket resale market. By ensuring profits return to original sellers, like artists and event organizers, NFTs redirect revenue back into the creative industry. Moreover, NFTs can significantly reduce inflated costs for fans, as scalping activities often involve substantial markups over the primary sale price.
2. Verifiable Authenticity: Blockchain technology makes counterfeiting virtually impossible. NFTs secure the authenticity of each ticket, mitigating losses from ticket fraud, which have amounted to millions of dollars in recent years.
3. Safety and Convenience: Transparent ownership history provided by NFTs facilitates seamless transfers and trades while enhancing trust and reducing fraudulent activity. This transparency strengthens buyer confidence in ticket transactions.
4. Interactivity and Additional Value: NFT tickets offer more than symbolic value. They provide tangible benefits, such as exclusive backstage passes and post-event perks such as discounts on merchandise purchases. The interactive and additional value offered by NFT tickets enhances the overall appeal of events and has the potential to appreciate in value over time, promoting the growth of the event industry.

NFTs and Event Organizers: Unlocking New Revenue Streams

Adopting NFT ticketing presents event organizers with a multitude of remarkable benefits that extend beyond addressing fraud and scalping. These benefits include:

1. Innovative Collaboration Prospects: Organizers can collaborate with sponsors to create unique, branded NFT collectibles. These digital tokens not only enrich the fan experience but also provide opportunities for sponsorship engagement and brand marketing.
2. Revenue from Secondary Sales: NFTs enable event organizers to earn a designated percentage from each ticket resale, establishing a continual revenue stream beyond the initial point of ticket sale.
3. Exclusive Limited Edition Collectibles: After the event concludes, organizers can release limited-edition NFT collectibles that fans can purchase as souvenirs. This generates an additional income stream for organizers.

By adopting NFT ticketing, event organizers can provide a more personalized experience, exercise greater control, and unlock new revenue streams. The potential of NFT ticketing is vast, offering a world of possibilities for the event industry.

User Flow - Attendee:

• Registration: Attendees register on the Nucast Ticketing platform, creating an account to access event listings and purchase tickets. Upon registering, a Cardano wallet is automatically created on the backend for the user. Additionally, the user can also connect a non custodial wallet if they wish.

• Browse Events: Attendees can browse a wide range of events available on the platform, including film screenings, concerts, conferences, and more.

• Ticket Selection: Attendees select the desired event and choose the type and quantity of tickets they wish to purchase.

• Seat Selection: For events with assigned seating, attendees can view the event seatmap, which is uploaded by the organizer. They can then select specific seats based on availability.

• Payment: Attendees proceed to the payment gateway and choose from various payment methods supported by the platform, such as ADA or traditional fiat options.

• Ticket Ownership: After successful payment, NFT tickets representing the purchased tickets are transferred to the attendees' wallet.

• Accessing Tickets: Attendees can access their purchased tickets within their account, view event details, and Download a unique QR code associated with each ticket.

• Event Entry: At the event venue, attendees present the QR code from their Nucast Ticketing app for scanning by event staff.

• Ticket Verification: The event staff scans the QR code to verify its authenticity and validity in real-time using the Nucast Ticketing platform.

User Flow - Organizer:

• Registration: Organizers register on the Nucast Ticketing platform as event organizers, creating an account specifically designed for their needs.

• Event Creation: Organizers create events by providing details such as event name, date, venue, ticket types, and pricing options.

• NFT Ticket Generation: Using the Nucast Ticketing app for organizers, unique NFT tickets are generated for each ticket type, associating them with the specific event.

• Ticket Sale Setup: Organizers set up ticket sales, including availability dates, pricing tiers, and any limitations or restrictions associated with the tickets.

• Promotion and Marketing: Organizers leverage the Nucast Ticketing platform's marketing features to promote their events, reaching a wider audience of potential attendees.

• Real-Time Ticket Updates: Organizers can monitor and receive real-time updates on ticket sales, availability, and other relevant data through the Nucast Ticketing app.

• Event Entry Management: During the event, organizers use the Nucast Ticketing app to verify the authenticity of attendees' tickets by scanning the QR codes presented at the entry point.

• Additional Revenue Streams: Organizers can explore additional revenue streams by offering exclusive merchandise, limited-edition NFT collectibles, and collaborations with sponsors.

By providing a seamless user experience for both attendees and organizers, Nucast Ticketing streamlines the ticketing process, enhances security and authenticity, and opens up new opportunities for revenue generation and engagement within the event industry.

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

Our proposed solution addresses several challenges and brings significant benefits to the Cardano ecosystem. Here's how:

• Creation or Improvement of Different Products: By introducing Nucast Ticketing and nuDynamic Tickets, we are creating a new and innovative product within the events and ticketing industry. This solution leverages the power of NFTs and blockchain technology to revolutionize traditional ticketing systems, addressing long-standing challenges such as fraud, scalping, and counterfeiting. Our platform provides a seamless and secure ticketing experience for attendees and empowers event organizers with new revenue streams and collaboration opportunities.
• Integrations with Other Existing Services, Products, and Protocols: Nucast Ticketing has the potential to integrate with various existing services, products, and protocols within the Cardano ecosystem. This integration can enhance the utility and interoperability of the platform, allowing for seamless transactions, interoperable dynamic NFTs, and synergistic partnerships.
• Solving a Key Problem or Issue: The traditional ticketing industry faces numerous challenges, including fraud, scalping, and counterfeiting, which lead to financial losses for event organizers and attendees. By implementing nuDynamic Tickets, we provide a solution that tackles these issues head-on. NFTs offer verifiable authenticity, eliminate scalping practices, and provide a transparent history of ticket ownership. This not only ensures a secure and trustworthy ticketing experience but also creates new opportunities for event organizers to engage with fans, generate additional revenue, and enhance the overall event experience.

The impact of our proposed solution on the Cardano ecosystem is significant. It brings several key benefits:

• "Driving Cardano Adoption and Usage: Our innovative ticketing platform, built on Cardano, enhances its adoption and usage. Nucast Ticketing illustrates the practical applications of Cardano's technology, drawing users, developers, and businesses to its ecosystem. While NFT ticketing platforms on other blockchains have sold over 2 million tickets, a well-adapted NFT ticketing solution on Cardano is still missing. Through Nucast Ticketing, we aim to fill this gap and foster greater adoption and usage of Cardano."

• Network Effect: As Nucast Ticketing gains traction and popularity, it attracts a growing user base and expands its network effect within the Cardano ecosystem. More users participating in NFT ticketing on Cardano creates a vibrant ecosystem, attracting attention and resulting in growth.

• Synergistic Partnerships: The success of Nucast Ticketing can lead to strategic partnerships and collaborations with other projects and businesses within the Cardano ecosystem. These partnerships can further enhance the capabilities and offerings of the platform, create cross-platform integrations, and contribute to the overall growth and development of the ecosystem.

Overall, our proposed solution addresses key challenges in the ticketing industry, brings valuable benefits to the Cardano ecosystem, and strengthens the position of Cardano as a leading blockchain platform for real-world applications.

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

The proposed solution addresses the following key points outlined in the challenges brief:

Adoption Metrics:

• Number of event organizers and artists using the nuDynamic Tickets system on Cardano.
• Total volume of ticket transactions conducted using NFTs on the Cardano blockchain.
• Increase in the number of attendees purchasing and using NFT tickets.
• Growth in the overall user base of the Cardano ecosystem, specifically attributed to the adoption of nuDynamic Tickets.

Revenue and Scalping Metrics:

• Decrease in the number of scalping incidents.
• Increase in revenue directed back to artists and event organizers through nucast ticketing platform nfts .
• Feedback and testimonials from artists and event organizers on the impact of reduced scalping and increased revenue.

Authenticity and Safety Metrics:

• Decrease in ticket counterfeiting incidents.
• Reduction in financial losses from ticket fraud.
• Positive feedback and confidence expressed by attendees regarding the secure and verifiable nature of NFT tickets.

User Experience Metrics:

• User satisfaction surveys and ratings regarding the seamless and convenient ticketing process.
• Feedback on the integration of unique features and perks with NFT tickets.
• Engagement metrics, such as usage of lifetime perks, merchandise discounts, and special rewards offered through NFT tickets.

Ecosystem Growth and Industry Recognition:

• Partnerships formed with artists, event organizers, and other stakeholders in the event industry.
• Recognition and coverage of nuDynamic Tickets and Cardano's NFT ticketing solution in industry publications and media.
• Increased awareness and interest in Cardano as a platform for innovative ticketing solutions.

In the short term, the project can drive productivity by attracting new users and event organizers to the Cardano ecosystem. It can also generate revenue through ticket sales and transactions. In the long term, the successful implementation of nuDynamic Tickets can contribute to the growth of the Cardano ecosystem by demonstrating real-world use cases and attracting users from various industries beyond ticketing.

While the exact numbers and metrics depend on various factors such as market demand, adoption rates, and user behavior, the proposed measures are realistic as they align with the project's goals and the expected impact of NFT ticketing on the event industry. These metrics provide a comprehensive evaluation of the project's success, encompassing both quantitative data and qualitative feedback from users, stakeholders, and industry experts.

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

We plan to share the outputs by implementing the following action items:

• Regular Updates: Nucast team will regularly publish project updates and key performance indicators (KPIs) on their Medium blog. These updates will provide detailed information about the progress, milestones achieved, user adoption, and other relevant metrics.

• Community Engagement: Nucast team will actively engage with the Cardano community through various channels such as Twitter spaces, town halls, live streams on nucast and AMAs (Ask Me Anything sessions. These interactions will allow the team to present the project's outputs, discuss the impact, and address any questions or concerns from the community.

• Partnerships and Collaborations: Nucast team will seek partnerships and collaborations with relevant influencers, content creators, and industry leaders. These partnerships can include interviews, joint content creation, or promotional activities. By leveraging the reach and influence of these partners, Nucast can ensure that the outputs and opportunities are shared with a wider audience.

• Social Media Presence: Nucast team will maintain an active presence on social media platforms, including Twitter, Telegram, and Discord. The team will share updates, project highlights, and success stories to keep the community informed and engaged.

• Catalyst Updates: Nucast will participate in Cardano's Catalyst program and share project updates and progress reports within the Catalyst community. This will provide an opportunity to receive feedback, collaborate with other projects, and showcase results.

By implementing these initiatives, our goal is to effectively communicate the outputs and results of the project, reach a wider audience, and foster transparency and engagement within the Cardano community.

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

Nucast has the capability to deliver the project with high levels of trust and accountability based on the following factors:

• Popularity and Community Engagement: Nucast has already gained popularity as a streaming platform on Cardano, attracting a substantial community of over 8000+ members across social media channels and Discord during the beta phase. This engaged community has been instrumental in providing valuable feedback and contributing to the platform's growth.

• Revenue Generation : Nucast has generated 150,000+ ADA in revenue, showcasing the platform's ability to monetize and sustain itself. These funds have been reinvested wisely into building the web app and assembling a talented team proficient in various domains.

• Experienced Team: Nucast is proud to host a highly skilled and experienced development team with over 30+ years of combined industry experience. The team's expertise in blockchain technology, finance, and the movie industry enables them to comprehend the intricacies of a NFT based ticketing solution and deliver a robust and innovative platform.

• Industry Partnerships: We have already established partnerships with key industry players. We are thrilled to announce that Nucast Ticketing is partnering with the Cardano Foundation to enable Ticketing for community events for Cardano Summit 2023. We have been selected as the official community partner for conducting the Cardano Summit in India.

• Track Record of Successful Projects: Nucast team has a history of successfully delivering projects in the web3 and entertainment domains. Our past successes demonstrate our ability to design, develop, and deploy secure and scalable solutions.

To ensure accountability, we are committed to:

Regular Updates: We will provide regular project updates and key performance indicators (KPIs) through our Medium blog. This transparent approach keeps stakeholders informed about the project's progress, achievements, and metrics.

Community Engagement: We actively engage with the Cardano community through channels such as Twitter spaces, town halls, and AMAs. By interacting with the community, we're able to address questions, gathers feedback, and ensure open communication with stakeholders.

Nucast team continues to demonstrate our commitment to delivering the project with trust and accountability. Our experienced team, industry partnerships, and transparent communication channels contribute to building confidence and establishing Nucast as a reliable and responsible participant within the Cardano ecosystem.

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

The main goals for the Nucast Ticketing project are as follows:

Platform Development:

• Develop a robust and scalable Nucast Ticketing platform that can handle a high volume of ticket transactions and provide a seamless user experience.
• Implement necessary features such as ticket purchasing, QR code generation and scanning, seat selection, and real-time ticket status updates.
• Conduct thorough technical testing to ensure the platform functions reliably and securely.

Fiat Integration:

• Integrate fiat payment options into the Nucast Ticketing platform to provide users with convenient and familiar payment methods.
• Collaborate with payment service providers and adhere to relevant regulations and compliance standards.
• Test the integration thoroughly to ensure smooth and secure fiat transactions within the platform. We currently have fiat integration on another nucast built platform live from 3 months and it's been functioning smooth.

Partnering with Industry Players and Big Events:

• Forge partnerships with prominent event organizers, production studios, artists, and other industry players to onboard high-profile events onto the Nucast Ticketing platform.
• Collaborate closely with partners to understand their specific requirements and tailor the platform to meet their needs.
• Validate the partnership through successful implementation and positive feedback from partners and event attendees.

Promoting New Revenue Streams for Organizers:

• Introduce innovative features such as lifetime perks, merchandise discounts, and special rewards for event organizers to offer their attendees.
• Analyze the impact of these new revenue streams on the success of events and the overall satisfaction of attendees.
• Collect feedback from organizers and attendees to assess the effectiveness and desirability of these revenue-generating features.

In order to validate the feasibility of the approach, we will employ several methods:

Technical Validation:

• Conduct rigorous testing and quality assurance to ensure the platform functions smoothly, is secure, and can handle high traffic and transaction volumes.
• Perform stress testing to assess the scalability and robustness of the platform under various scenarios.
• Continuously monitor and analyze platform performance to identify and address any technical issues or bottlenecks.

Partnerships:

• Establish partnerships with respected organizations, event management companies, and industry influencers to validate the credibility and relevance of our approach.
• Collaborate with partners to co-create and promote the Nucast Ticketing platform, leveraging their expertise and network.
• Measure the success of partnerships through the number of events onboarded, increased ticket sales, and positive feedback from partners.

User Feedback:

• Collect feedback from users, including event attendees, organizers, and ticket buyers, through surveys, interviews, and user testing sessions.
• Evaluate user satisfaction, ease of use, and overall experience with the platform to identify areas for improvement and validate user acceptance.
• Iteratively refine the platform based on user feedback and incorporate user suggestions to enhance the platform's functionality and usability.

Validation of Market Viability:

• Conduct thorough market research to assess the demand for NFT ticketing solutions, identify target markets, and understand competitors.
• Analyze market trends, industry forecasts, and user preferences to validate the market viability and potential growth of Nucast Ticketing.
• Monitor key metrics such as ticket sales, revenue generated, and user adoption to evaluate the platform's market acceptance and potential for expansion.

By employing these validation methods, we will ensure that our goals for platform development, fiat integration, partnerships, and revenue streams are feasible and aligned with the needs of the market and 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.

Project Plan for Nucast Ticketing Development

Phase 1: Planning and Design

Duration: 2 weeks

UX/UI Design:

Create wireframes and prototypes of the mobile application.

Design user-friendly and intuitive interfaces.

Ensure a consistent visual identity and branding.

Architecture and Technology Stack:

Select appropriate technologies and frameworks to develop the solution upon.

Design an architecture with scalability and decentralization.

API Design:

Design and document the API endpoints for ticket state operations and user interactions.

Project Setup:

Set up the development environment.

Configure version control and collaboration tools.

Create the initial project structure.

Projected cost: 11400 ADA

Phase 2: Development and Testing

Duration: 8 weeks

Backend Development:

Implement a scalable backend system to handle User interactions, transaction building and ticket state operations

Frontend Development:

Develop the user interface for browsing events, buying, claiming and using tickets.

Integrate with backend APIs.

Conduct thorough testing of the platform.

Perform functional testing, usability testing, and compatibility testing.

Identify and fix bugs and performance issues.

Security and Privacy:

Implement necessary security measures to protect user data.

Address privacy concerns and comply with relevant regulations.

Prevent platform from botting attacks.

Projected cost: 61333 ADA

Phase 3: Deployment and Support

Duration: 1 week and ongoing

Monitor app usage and performance metrics.

Analyze user feedback and identify areas for enhancement.

Regularly release updates and new features to address user needs.

Ongoing Maintenance and Support:

Provide technical support to users and address their queries or issues.

Monitor server infrastructure and ensure high availability.

Maintain compatibility with new iOS and Android versions.

Projected cost: 15833 ADA

Timeline:

Weeks 2: Planning and Design

Weeks 3-10: Development and Testing

Weeks 10-12: Deployment and Support

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

Phase 1: Planning and Design

Deliverables:

• Wireframes and prototypes of the mobile application
• UX/UI design documentation
• API design documentation
• Project setup and configuration

Outcomes:

• Clear visual representation of the mobile application's interface and user flow
• Well-defined user experience and interface design guidelines
• Documented API endpoints for ticket state operations and user interactions
• Established development environment and project structure for efficient collaboration

Measurement of Progress:

• Completion of wireframes and prototypes
• Approval and sign-off on UX/UI design documentation
• Finalized API design documentation
• Successful setup of development environment and project structure

Phase 2: Development and Testing

Deliverables:

• Backend system for user interactions, transaction building, and ticket state operations
• Frontend user interface for event browsing, ticket purchasing, claiming, and usage
• Thoroughly tested platform with fixed bugs and performance improvements
• Implemented security measures and privacy compliance

Outcomes:

• Fully functional and scalable backend system to handle user interactions and ticket operations
• User-friendly and intuitive frontend interface for seamless ticketing experience
• High-quality platform with minimal bugs and optimal performance
• Secure handling of user data and compliance with privacy regulations

Measurement of Progress:

• Completion of backend development and successful integration of APIs
• Completion of frontend development with all features implemented and tested
• Thorough testing and resolution of identified bugs and performance issues
• Implementation and verification of security measures and privacy compliance

Phase 3: Deployment and Support

Deliverables:

• Deployed and live mobile application accessible to users
• Ongoing monitoring of app usage and performance metrics
• Regular updates and feature releases to address user needs
• Technical support for users and timely resolution of queries or issues
• Maintenance of server infrastructure for high availability

Outcomes:

• User access to the live mobile application for ticket purchasing and usage
• Continual improvement and enhancement of the platform based on user feedback
• Responsive technical support for a positive user experience
• High availability and uninterrupted service through infrastructure maintenance

Measurement of Progress:

• Successful deployment of the mobile application and user accessibility
• Analysis of app usage and performance metrics for optimization and improvement
• Release of regular updates and new features based on user needs
• Documentation and tracking of technical support requests and resolutions
• Monitoring of server infrastructure and availability metrics

To track the project's progress, the following metrics can be measured:

• Timely completion of milestones and deliverables as per the defined timeline
• User feedback and satisfaction surveys to evaluate the platform's usability and functionality
• Number of downloads, active users, and user engagement metrics on the live application
• Bug reports and resolution metrics to assess the stability and performance of the platform
• Response time and resolution rate for user support queries
• Server uptime and availability metrics to ensure uninterrupted service

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

Phase 1

Senior Solution Architect 166.67 ADA x 30 Hours = 5000 ADA

UI UX Designer 100 ADA x 30 Hours = 3000 ADA

Tech Infrastructure: 3400 ADA

Phase 2

Frontend Developer 133.33 ADA x 240 Hours = 32000 ADA

Backend Developer 133.33 ADA x 220 Hours = 29333.33 ADA

Phase 3 -

Senior Solution Architect 183.33 ADA x 50 Hours = 9166.67 ADA

Full Stack Developer 133.33 ADA x 50 Hours = 6666.67 ADA

[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 in several ways:

• Innovation and Differentiation: By investing in the development of Nucast Ticketing, the Cardano ecosystem gains a unique and innovative solution for the events and ticketing industry. This solution leverages blockchain technology and NFTs to address long-standing challenges in the industry, providing enhanced security, transparency, and revenue opportunities. The value generated by Nucast Ticketing's innovative approach sets Cardano apart from competitors and positions it as a leader in blockchain-based ticketing solutions.

• Increased Adoption of Cardano: Nucast Ticketing offers a practical, real-world use case for Cardano's blockchain technology, driving adoption and usage of the Cardano ecosystem. As event organizers, attendees, and industry players embrace Nucast Ticketing, they become part of the growing Cardano community. This increased adoption not only adds value to the ecosystem but also strengthens the network effect and overall utility of the Cardano blockchain.

• Technical Implementation and Infrastructure: The costs associated with the technical implementation and infrastructure is perfectly in terms of their necessity, scalability, and alignment with industry standards considering our team is based in USA, Singapore and India.

• Revenue Generation: The success of Nucast Ticketing can result in significant revenue generation within the Cardano ecosystem. As event organizers utilize the platform, they generate revenue through ticket sales, fees, and additional revenue streams facilitated by NFTs. This revenue directly contributes to the growth and sustainability of the ecosystem, fostering further innovation and development.

• Expansion of the Cardano Ecosystem: Nucast Ticketing's integration with other services, products, and protocols within the Cardano ecosystem creates synergistic opportunities for collaboration and growth. As the platform gains traction, it attracts partnerships with payment service providers, event management companies, and other industry players, expanding the reach and influence of the Cardano ecosystem. This expansion brings additional value and opportunities to the ecosystem as a whole.

In summary, the cost of the Nucast Ticketing project represents value for money for the Cardano ecosystem through innovation, increased adoption, revenue generation, ecosystem expansion, and user and investor confidence. By investing in this project, the Cardano ecosystem positions itself at the forefront of blockchain-based ticketing solutions, bringing tangible benefits to both the ecosystem and its participants.

[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