[GENERAL] Name and surname of main applicant

Sheldon Hunt

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Not Incorporated)

[GENERAL] Co proposers and Additional applicants

Andrew Hunt

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

4

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

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

By enabling fan ownership in entertainment projects on Cardano, Crimson will build a decentralised movie-making platform that thrives on community passion, driving both innovation and success.

[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.”

Crimson will be collaborating with award-winning movie production and distribution companies Raven Banner and Northern Banner to make incredible films. With expansive experience going back almost two decades, Raven Banner is the world's premiere low-budget sci-fi, action and horror movie maker and distributor, while Northern Banner is making incredible dramas and thrillers.

Additionally, our friends over at NMKR
have offered to collaborate with smart contract writing and NFT minting later down the roadmap, as well as collaborating on advanced features.

We’re excited to be working together!

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

No

[GENERAL] Please provide here more information on the open source status of your project outputs

Due to our commitment to maintaining a competitive edge and preserving the uniqueness of our platform, we have decided not to open source the code for the foreseeable future. This decision allows us to protect our planned proprietary features, maintain control over our intellectual property, and foster a sustainable business model. We believe that keeping the source code closed will contribute to a more vibrant and innovative experience as we kick off. We don’t rule out making our project open sourced as some point later down the road map.

[SOLUTION] Please describe your proposed solution.

Crimson will be a decentralised and transparent Dapp built on Cardano that will empower fan ownership and engagement. By implementing a fan-owned entertainment platform on Cardano, we’ll be utilising tokenisation to create CNTs, which fans can acquire for governance voting rights as well as to represent ownership. 

A breakdown of our planned features include:

Tokenised Ownership: Utilising Cardano's smart contracts, Crimson will issue utility tokens representing ownership stakes in various entertainment projects. With these tokens, fans will be granted proportional ownership and decision-making power.

Voting Mechanisms: Crimson will empower fans and holders to participate in project decisions. This might involve voting on film investment opportunities, script selections, casting choices, marketing strategies, or other crucial project elements.

Exclusive Access and Rewards: Crimson’s token holders will receive exclusive perks, such as early screenings, merchandise, or access to events related to the projects they've invested in. These rewards will be encoded within NFTs and distributed based on involvement and token ownership.

Transparent Funding and Royalties: Cardano's transparency allows for clear tracking of funds and royalties. Smart contracts can automate revenue distribution among token holders based on project success or revenue generated.

By doing all of this, Crimson will be building a fan-owned entertainment platform that will leverage Cardano’s security and scalability for genre-defining movie projects. Crimson will be innovating with film tokenomics and governance structures that will make it unique across the entire ecosystem, fostering a sense of community and ownership among fans while democratising the entertainment industry.

We’ll make movies that are AWESOME and that people WANT to see!

[IMPACT] Please define the positive impact your project will have on the wider Cardano community.

Our project - Crimson - aims to enrich the Cardano community by introducing an entertainment platform like no other, fostering engagement and utility within the ecosystem. We'll measure impact through fan participation in voting, community feedback, and later token/NFT transactions, gauging qualitative experiences and quantitative metrics like user retention and token/NFT marketplace activity. Outputs will be shared through community forums, social media, and the usual dedicated Catalyst reports, collaborating with Cardano stakeholders to showcase opportunities and insights gained from our project's success.

Our initial targets in this concept phase are as follows:

• Engage +500 movie-lovers in signing up to the platform
• Onboard a minimum of 100 new movie fans into the Cardano ecosystem
• Have +1000 social media followers by the end of the prototype phase

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our small initial team, with diverse backgrounds spanning Cardano governance, tech entrepreneurship, film making, production and distribution, and merchandising, ensures that we can deliver with full accountability.

Crimson’s concept phase is entirely feasible, as it is a combination of the various tech, voting and film making features and experiences that the team have been mastering for many years.

By combining our entrepreneurial prowess and management skills, we're equipped to manage funds responsibly. Strategies include transparent financial reporting, periodic audits, and Catalyst project reporting to showcase responsible resource utilisation to stakeholders and the Catalyst community.

[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?

Concept and Planning (Month 1):

• Develop a comprehensive concept and business plan for Crimson on Cardano, outlining the key features, governance model, and user benefits.
• Conduct market research to understand user preferences and expectations within both the Cardano community and the broader entertainment industry.

Marketing and Community Engagement (Month 2):

• Create a promotional website with engaging content about Crimson, emphasising its unique features and the benefits for both Cardano's ecosystem and the wider film industry.
• Launch a targeted marketing campaign across social media platforms and Cardano forums to build awareness and attract potential community members.

Website and User Interface Development (Month 3):

• Begin the development of a user-friendly website and interface for Crimson, ensuring a seamless experience for fans to explore.

Smart Contract Development and Testing (Month 4):

• Initiate the development of demo smart contracts to facilitate tokenised ownership and governance within Crimson.
• Conduct thorough testing of the smart contracts to ensure security, functionality, and efficiency, with a focus on creating a robust and trustworthy fan ownership experience.

[RESOURCES] Who is in the project team and what are their roles?

Project Lead: Sheldon Hunt (https://www.linkedin.com/in/sheldonhunt/) is your resident Cardano-governance and utility maxi! Currently standing-up Intersect, he was previously at IOG as a key-player in the Voltaire team. Previously Sheldon has been a Canadian diplomat, movie producer, businessman, and gaming entrepreneur (an occupation he still dabbles in). Committed to driving innovation, adoption and governance within Cardano, he is keen to push forward with the engagement, fun and innovation that Crimson can provide to thousands of people - both inside and outside the ecosystem.

Film Production Lead: Andrew Hunt (https://www.linkedin.com/in/andrewthunt/) is an award-winning film producer, director and entrepreneur. Having been making movies, TV shows, and music videos for well over 30 years, Andrew is incredibly experienced and widely respected across the entertainment industry. 

Smart Contract: 1 Smart Contract Writer

Tech Support: 1 Website and UI Designer

Community Management: 1 Part-Time Community Manager

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.

Salaries and Expenses:

1) Project Lead: Symbolic Salary - $500/month x 4 months = $2,000

2) Film Production Lead: Symbolic Salary - $500/month x 4 months = $2,000

4) 1 Smart Contract Writer: $5,000/month x 2 months = $10,000

5) 1 Website and UI Designer: $5,000/month x 2 months = $10,000

6) 1 Part-Time Community Manager: $1,500/month x 3 months = $4,500

7) Legal fees, company registration, insurance = $2,000

8) Marketing and Promotion = $2,000

9) Budget for Other Expenses + Licences + Equipment = $1,500

Total Salaries: $2,000 + $2,000 + $10,000 + $10,000 + $4,500 + $2,000 + $2,000 + $1,500 = $34,000 (90K ADA)

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

We think the above budget breakdown is HIGHLY effective and wonderful value for money, as significant members of the team will be taking a symbolic salary for their work, while others will be working in limited time frames for strategic purposes and goals. We’re confident that we can deliver an incredible working demo of Crimson for the Cardano ecosystem.

[IMPORTANT NOTE] The Applicant agrees to Fund 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