Footprints on the Blockchain: Pioneering a Dance NFT Platform for Choreographed Masterpieces

[GENERAL] Name and surname of main applicant

William Tan

[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

Toby Paul

[GENERAL] Requested funds in ada

100000

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

Creating a Cardano NFT dance platform with smart contracts for transparent, automated royalty distribution, empowering dance artists.

[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?

Yes

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

The NFT dance platform's software, smart contracts, and associated codebase will be openly shared under a permissive license. This reflects our dedication to Cardano's principles of transparency, community involvement, and collaborative innovation. Embracing an open-source ethos aims to invite community contributions, validate the platform's robustness, and propel widespread adoption within the Cardano ecosystem.

[SOLUTION] Please describe your proposed solution.

Problem:

Dance artists invest substantial time and effort in creating captivating choreographed video content, yet they face a critical challenge in the current landscape—the absence of a dedicated platform for them to monetize their creations through NFTs. Despite the artistic value they bring, traditional platforms often fail to provide fair compensation. The intricate process of royalty distribution exacerbates the issue, marked by complexity and opacity, leading to disputes and delayed payments. This gap highlights the need for a solution that empowers dance artists, providing them with a secure and transparent ecosystem to tokenize their performances and receive equitable royalties.

Moreover, the lack of such a dedicated platform restricts the potential growth of the dance industry in the digital era. Dance artists are constrained by existing platforms that may not adequately reward their creative efforts. The absence of a streamlined and artist-friendly mechanism for tokenizing and monetizing dance performances creates a barrier to entry for many artists. This systemic issue impacts not only individual artists but also the vibrancy and diversity of the dance community as a whole.

In addition to compensation challenges, the current landscape lacks a reliable system for proving ownership and scarcity of digital dance performances. This becomes a critical concern in a digital era where content can be easily replicated. The absence of a mechanism to establish the uniqueness and ownership of digital dance content limits the potential for artists to showcase their work as valuable and exclusive, hindering opportunities for collaboration and recognition.

Solution:

The proposed NFT dance platform on Cardano offers a transformative solution to the challenges faced by dance artists. By leveraging the robust blockchain infrastructure of Cardano, the platform provides a secure foundation for handling valuable NFT assets and transparent royalty transactions. The introduction of smart contracts, powered by languages like Haskell/Plutus or Marlowe, forms the backbone of an automated and transparent royalty distribution system. This not only eliminates intermediaries but also reduces operational costs, ensuring that artists receive their fair share of revenue promptly.

Furthermore, the use of NFTs on the platform revolutionizes the way dance performances are valued and traded. Each NFT represents a unique and scarce digital asset, providing provable ownership and exclusivity. This not only addresses the challenge of content replication but also positions dance performances as desirable collectibles for art enthusiasts and investors. The platform serves as a catalyst for financial empowerment, breaking down barriers for dance artists to generate income from their artistic endeavors.

The engagement strategy of the project is holistic, involving multiple stakeholders within the dance and NFT communities. Dance artists, the primary participants, can tokenize their choreographed video content as NFTs and offer them for sale or auction on the marketplace. Art collectors, dance enthusiasts, and investors form a crucial part of the community, acquiring and trading these unique NFT dance performances. Additionally, developers and smart contract experts contribute to building and maintaining the technical infrastructure of the platform, fostering collaboration and innovation.

Impact Demonstration:

The impact of the NFT dance platform is multifaceted, aiming to bring about positive change within the dance community and the wider NFT ecosystem. Firstly, the platform ensures increased royalty payments to dance artists through the automatic tracking and distribution of royalties via smart contracts. This guarantees that artists receive fair compensation for their creative work, fostering sustainability and growth within the artistic community.

Secondly, the success of the platform is measured by the adoption and engagement of dance artists. The number of artists joining the platform, showcasing their work, and actively participating in the community serves as a testament to the platform's appeal and its ability to engage and support artists in their digital journey.

User feedback and testimonials play a crucial role in demonstrating the impact of the platform. Gathering insights from both artists and collectors on their experience with the platform provides valuable information on its effectiveness and user satisfaction. Positive testimonials and reviews validate the impact of the platform in meeting the needs of the dance community and creating a positive user experience.

Finally, the vibrancy of the marketplace, measured through NFT sales, their average selling price, and overall trading volume, is a key indicator of the platform's success in facilitating transactions. A thriving marketplace not only benefits artists but also attracts art collectors and enthusiasts, creating a dynamic ecosystem that contributes to the growth and sustainability of the NFT dance platform.

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

1. Benefits and Value to the Cardano ecosystem:

i) The Proposed Solution - Addressing Key Aims:

1. Promoting Adoption of Cardano: The NFT dance platform built on Cardano serves as a novel use case, attracting dance artists, collectors, and enthusiasts to the Cardano ecosystem. It not only showcases the versatility of Cardano's blockchain but also introduces blockchain technology to a new demographic. This aligns with the broader goal of promoting Cardano's adoption across diverse industries.
2. Revenue Generation for Dance Artists: The project directly addresses the financial empowerment of dance artists by providing a platform for the tokenization of their performances. Through automated royalty distribution, it establishes a sustainable income stream for artists, aligning with the overarching aim of empowering creators economically. This not only benefits individual artists but also contributes to the overall vibrancy of the artistic community.
3. NFT Market Expansion: The initiative significantly contributes to the growth of the NFT market on Cardano. By introducing dance-related content as valuable digital assets, the project diversifies the range of available NFTs. This expansion attracts a specific audience interested in dance art, thereby enriching and diversifying the NFT market on the Cardano blockchain.

ii) Impact on the Cardano Ecosystem:

1. Increased User Adoption: The NFT dance platform's unique proposition draws in dance artists, collectors, and enthusiasts, expanding the Cardano user base. This influx of new participants not only enriches the ecosystem but also fosters a vibrant and engaged community.
2. Enhanced Ecosystem Utility: The platform's use of ADA for transactions enhances the utility of Cardano's native token. By facilitating exchanges related to dance NFTs, it generates demand for ADA within the ecosystem. This increased utility strengthens ADA's position as a valuable and actively used token.
3. Ecosystem Expansion: Beyond its immediate impact, the project paves the way for broader applications of Cardano's blockchain technology. The successful implementation of an NFT dance platform sets a precedent for other creative sectors to explore Cardano, contributing to the ongoing expansion and influence of the Cardano ecosystem.

iii) Quantifying the Impact:

1. User Engagement: The project aims to attract a substantial user base, including 500 dance artists, 2,000 collectors, and 5,000 enthusiasts. This diverse community actively participating in the platform will contribute significantly to the growth and vibrancy of the Cardano ecosystem.
2. NFT Transactions: Targeting a minimum of 10,000 dance NFT transactions reflects the platform's ability to drive economic activity. This includes sales, trades, and collaborations, showcasing the demand for dance NFTs and the dynamism of the platform.
3. ADA Usage: Achieving a minimum of 1 million ADA tokens' worth of transactions demonstrates the tangible utility and demand for ADA within the platform. This not only reflects the economic activity generated by the NFT transactions but also strengthens ADA's role as a valuable digital asset.

2. Measuring Success of the Project:

i) Short-term Impact:

a. User Adoption and Engagement:

• Metric: Number of registered dance artists, collectors, and enthusiasts on the platform.
• Qualitative: User feedback surveys and sentiment analysis.
• Rationale: Indicates the platform's immediate appeal and ability to engage various user groups.

b. NFT Transactions:

• Metric: Number of dance NFT transactions (sales, trades, collaborations).
• Quantitative: Average transaction value and volume.
• Rationale: Demonstrates economic activity, collector interest, and growth in the dance NFT market on Cardano.

c. ADA Usage:

• Metric: Volume of ADA tokens exchanged within the platform.
• Rationale: Reflects the platform's contribution to ADA's utility and demand within the Cardano ecosystem.

d. Community Growth:

• Metric: Growth in Cardano's dance artist and enthusiast community.
• Quantitative: Number of community members, social media engagement, event participation.
• Rationale: Indicates the project's impact on expanding the Cardano community within the targeted segments.

e. Ecosystem Expansion:

• Metric: Partnerships, launches of similar projects, and media coverage.
• Rationale: Illustrates the project's influence in driving Cardano's adoption within broader creative industries.

ii) Long-term Impact:

a. Establishing Cardano's Leadership:

• Outcome: Recognition of Cardano as a leading blockchain for the creative industries.
• Rationale: Attracts artists from diverse domains, establishing Cardano's reputation in the industry.

b. Inspiring Innovation:

• Outcome: Development of additional projects and applications on Cardano.
• Rationale: Indicates the platform's success in inspiring innovation and expanding Cardano's use cases.

c. Growth in Utility and Adoption:

• Outcome: Increased utility, adoption, and positive impact on Cardano's value.
• Rationale: Reflects the long-term influence of the project on Cardano's productivity and growth.

3. Sharing the Outputs and Opportunities of the Project Results:

a. Documentation and Reports:

• Output: Comprehensive documentation and reports detailing the development process, key findings, and outcomes.
• Distribution: Made available through online platforms such as the Cardano documentation portal, GitHub repositories, and dedicated project websites.
• Audience: Targeted at the Cardano community, including developers, researchers, and enthusiasts.

b. Community Engagement:

• Output: Active engagement through various channels, including social media, forums, and community events.
• Updates: Regular sharing of project updates, milestones, and insights.
• Objective: Fostering discussions and knowledge sharing among community members, creating awareness and disseminating project outputs among a wider audience.

c. Collaborative Workshops and Conferences:

• Output: Participation in relevant workshops, conferences, and industry events for presentations and knowledge exchange.
• Engagement: Interaction with researchers, developers, and industry professionals to gather feedback and explore collaborations.
• Objective: Attracting interest, forming partnerships, and identifying further research opportunities.

d. Open-Source Contributions:

• Output: Active contribution to the open-source community by sharing developed code, libraries, and frameworks.
• Accessibility: Allowing other developers and researchers to build upon the project's work, enhancing its impact and driving further innovation within the Cardano ecosystem.
• Objective: Facilitating collaboration and leveraging the collective intelligence of the community for continuous improvement.

[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 capability to deliver the project with high levels of trust and accountability is built upon several key factors:

A) Expertise and Experience: Our team consists of professionals with extensive experience in blockchain development, smart contract programming, and decentralized applications. We have a track record of successfully delivering complex projects in the blockchain space, showcasing our technical proficiency and understanding of the underlying technology.

B) Transparent Governance and Communication: We believe in maintaining transparency throughout the project lifecycle. We will establish clear communication channels to keep stakeholders informed about project updates, progress, and challenges. Regular reports and updates will be shared to ensure transparency and accountability.

C) Financial Management: Proper management of funds is of utmost importance. To demonstrate our ability to manage funds responsibly, we will implement the following steps and processes:

• Budget Planning: We will develop a detailed budget plan outlining the allocation of funds for each project milestone and activity. This plan will be shared with stakeholders for review and approval. (See Gantt Chart in website: mambolicious.xyz)
• Financial Controls: We will establish robust financial controls to ensure funds are utilized in accordance with the approved budget. This includes maintaining accurate records, implementing expense tracking mechanisms, and conducting regular audits.
• Escrow Services: To enhance trust and accountability, we may engage the services of a trusted third-party escrow provider. This will ensure that funds are released based on the achievement of predefined milestones and deliverables.
• Transparent Reporting: Regular financial reports will be prepared and shared with stakeholders, providing visibility into the project's financial status. These reports will include details of expenses, income, and any deviations from the budget.
• Compliance and Legal Considerations: We will adhere to all applicable legal and regulatory requirements related to financial management, ensuring proper governance and compliance throughout the project.

D) Partnerships and Collaborations: We recognize the value of building strong partnerships and collaborations within the Cardano ecosystem. By partnering with reputable organizations, auditors, and advisors, we can leverage their expertise and credibility to enhance trust and accountability in project delivery.

E) Reputation and References: Our previous projects and collaborations serve as references to our capabilities and commitment to delivering high-quality solutions. We encourage potential stakeholders to reach out to our previous clients or partners to gather feedback and assess our trustworthiness.

By combining our expertise, transparent governance practices, financial management controls, and a commitment to open communication, we are confident in our capability to deliver the project with high levels of trust and accountability.

Steps for Trust and Fund Management:

1. Clear Budgeting and Expenditure Plan:

• Clearly define the budget allocation for different project phases, providing transparency on fund utilization.
• Regularly update the community on expenditure, ensuring accountability and trust.

2. Community Feedback and Involvement:

• Actively seek community input on major decisions, fostering a collaborative and transparent approach.
• Community feedback mechanisms will be established to address concerns and suggestions regarding fund management.

3. Regular Progress Updates:

• Provide regular updates on project progress, including achievements, challenges, and any adjustments to the timeline or budget.
• Open communication channels to address questions and concerns from the community promptly.

4. Smart Contract Audits:

• Engage reputable third-party auditors to assess the security and functionality of the smart contracts.
• Transparently share audit reports with the community to ensure the integrity and reliability of the platform.

5. Compliance with Cardano Community Standards:

• Adhere to the standards and guidelines set by the Cardano community for project transparency, governance, and accountability.
• Proactively address any deviations from the proposed plan, ensuring alignment with community expectations.

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

Milestone 1: Research and Planning (1 month)

Deliverables:

1. Market Research Report:

• Comprehensive analysis of the target market, including demographics, trends, and potential user segments.
• Evaluation of the competitor landscape, highlighting strengths, weaknesses, opportunities, and threats.
• Assessment of market demand for NFT dance platforms, considering factors such as user preferences, pricing models, and adoption trends.

2. Platform Features and Requirements Document:

• Detailed document outlining the essential features and functionalities of the NFT dance platform.
• Technical requirements specifying the tools, technologies, and infrastructure needed for platform development.
• Inclusion of security and compliance considerations to ensure a robust and trustworthy platform.

3. Project Roadmap and Resource Allocation Plan:

• Visual roadmap illustrating the project's timeline, highlighting key milestones and task dependencies.
• Detailed resource allocation plan indicating the roles, responsibilities, and expertise required for each phase.
• A risk mitigation strategy identifying potential challenges and outlining proactive measures.

Verification and Confirmation:

To verify the successful completion of Milestone 1, the following criteria will be assessed:

1. Market Research Report:

• Verification will involve cross-referencing the report against external market data and expert opinions.
• Stakeholder feedback confirming the relevance and depth of the market insights.

2. Platform Features and Requirements Document:

• Verification will involve a review by technical experts to ensure feasibility and completeness.
• Stakeholder agreement on the outlined features and requirements.

3. Project Roadmap and Resource Allocation Plan:

• Verification will involve comparing the roadmap against project goals and ensuring a logical flow of tasks.
• Confirmation of stakeholder alignment on the proposed resource allocation.

Milestone 2: Platform Development (3 months)

Deliverables:

1. Fully Functional and Visually Appealing Website:

• A user-friendly website with an intuitive interface, allowing users to seamlessly browse and purchase choreographed video NFTs.
• Visual design and layout aligned with the project's aesthetic and branding.

2. Deployed and Tested Smart Contracts:

• Smart contracts implemented on the Cardano blockchain, allowing for the creation, sale, and transparent royalty distribution of NFTs.
• Rigorous testing to ensure the reliability and security of smart contract functionalities.

3. Backend Infrastructure:

• A robust and secure backend system seamlessly integrated with smart contracts to support platform operations.
• Efficient handling of data storage, retrieval, and interactions with the Cardano blockchain.

4. User-Friendly Frontend Interface:

• A responsive frontend interface providing users with a seamless experience to interact with the platform's functionalities.
• Intuitive navigation and user interface elements for easy understanding and engagement.

Intended Outcomes:

• Availability of a Functional Platform: The platform should be fully operational, allowing dance artists to mint and sell choreographed video NFTs.
• Seamless User Experience: Buyers should experience a seamless journey, from browsing to purchasing and trading NFTs.
• Secure Smart Contract Implementation: Smart contracts should facilitate transparent royalty distribution securely and efficiently.
• Stable and Scalable Backend Infrastructure: The backend infrastructure should be stable and capable of handling platform operations and interactions with the blockchain.

Verification and Confirmation:

To verify the successful completion of Milestone 2, the following criteria must be met:

1. Successful Deployment and Functionality Testing:

• The website, smart contracts, and backend infrastructure should be successfully deployed.
• Rigorous testing should confirm the correct and secure functioning of all components.

2. Positive User Feedback:

• User feedback should reflect a positive experience with the platform's usability and overall functionalities.
• Any identified issues or improvements from user feedback should be addressed promptly.

Confirmation Process:

A formal review and testing process will be conducted, involving stakeholders, developers, and potential users. Positive outcomes from functionality testing and user feedback will confirm the successful achievement of Milestone 2. Any identified issues or improvements will be documented and addressed in preparation for the next phase.

Milestone 3: Royalty Distribution System (2 months)

Deliverables:

1. Royalty Distribution System:

• Implementation of a comprehensive system that accurately tracks NFT sales.
• Automated royalty distribution to dance artists based on predefined rules.

2. Testing and Audit Reports:

• Comprehensive reports detailing testing procedures, methodologies, and results for the royalty distribution system.
• Third-party audit reports affirming the security, accuracy, and reliability of the royalty distribution process.

Intended Outcomes:

1. Automated and Transparent Royalty Distribution:

• Implementation of a system that automates royalty distribution, ensuring dance artists receive fair compensation.

2. Robust Testing and Auditing Procedures:

• Comprehensive testing and auditing processes to verify the reliability, accuracy, and security of the royalty distribution system.

Verification and Confirmation:

To verify the successful completion of Milestone 3, the following criteria must be met:

1. Successful Implementation and Integration:

• The royalty distribution system should be successfully implemented and seamlessly integrated with the existing smart contracts.
• Testing scenarios should cover various conditions to ensure the system responds accurately.

2. Approval of Testing and Audit Reports:

• Testing reports should be thorough, demonstrating rigorous testing procedures and documenting results.
• Third-party audit reports should affirm the security, accuracy, and reliability of the royalty distribution process, with no critical issues identified.

Confirmation Process:

A formal review and testing process will be conducted, involving stakeholders, developers, and potentially external auditors. Approval of testing and audit reports with no critical issues will confirm the successful achievement of Milestone 3. Any identified issues or recommendations will be addressed promptly in preparation for the subsequent phase.

Milestone 4: Digital Marketing and Artist Acquisition (3-4 months)

Deliverables:

1. Digital Marketing Strategy:

• A comprehensive strategy detailing promotional activities, content creation plans, and social media advertising campaigns.
• Clearly defined KPIs to measure the success of digital marketing efforts.

2. Increased Platform Reach and Engagement:

• Expanded user base and increased engagement on social media platforms.
• Growth in the number of followers and heightened interaction with the platform.

3. Artist Acquisition Campaigns:

• Successful campaigns attracting talented dance artists to mint and sell their choreographed video NFTs on the platform.
• Onboarding of a significant number of new artists through targeted campaigns.

4. Community Engagement Initiatives:

• Active community engagement through events, contests, and partnerships.
• Participation of the community in platform-related initiatives and increased collaboration.

Intended Outcomes:

1. Increased Awareness and Adoption:

• Enhanced awareness and adoption of the NFT dance platform within the dance community.

2. Growing Community of Artists and Enthusiasts:

• A growing and vibrant community of dance artists and enthusiasts actively participating in the platform.

3. Strengthened Platform Reputation:

• Reinforced platform reputation and increased brand presence in the market.

Verification and Confirmation:

To verify the successful completion of Milestone 4, the following criteria must be met:

1. Key Performance Indicators (KPIs):

• Platform user growth, social media metrics (followers, engagement), and the number of participating artists should meet or exceed predefined KPIs.
• The digital marketing strategy should show measurable positive impact.

2. Feedback from Users and Artists:

• Positive feedback from users and artists regarding their satisfaction and engagement with the platform.
• User testimonials and comments affirming the effectiveness of digital marketing and artist acquisition campaigns.

Confirmation Process:

A formal review will be conducted, involving stakeholders, marketing experts, and community representatives. Achievement of predefined KPIs and positive feedback will confirm the successful completion of Milestone 4. Adjustments to the strategy will be made based on the feedback received to optimize future marketing initiatives.

Milestone 5: Deployment and Launch (1 month)

Deliverables:

1. Platform Deployment:

• Successful deployment of the NFT dance platform on a production environment, making it accessible to users.
• Configuration of all components, ensuring seamless functionality.

2. Final Testing and Bug Fixing:

• Rigorous testing procedures to identify and resolve any remaining bugs or issues.
• Implementation of necessary fixes to guarantee a stable and user-friendly platform.

Intended Outcomes:

1 Live and Accessible Platform:

• The NFT dance platform is live and accessible to users, providing a real-world environment for engagement.

2 Bug-Free Operation:

• Resolution of any identified bugs, ensuring a smooth user experience and platform operation.

Verification and Confirmation:

To verify the successful completion of Milestone 6, the following criteria must be met:

1. Live Platform Accessibility:

• Confirmation of the platform's accessibility in a production environment.
• Users can interact with the platform's features, browse NFTs, and initiate transactions.

2. Bug Resolution and Testing Validation:

• Validation of bug fixes through extensive testing scenarios.
• Verification that reported bugs have been effectively addressed, ensuring optimal platform performance.

Confirmation Process:

Confirmation of Milestone 5 completion involves a comprehensive assessment by the development team and external testing entities. The live deployment will be closely monitored for any unexpected issues, and user feedback will be collected to confirm the platform's functionality and bug-free operation. Adjustments will be made promptly if any issues are identified during the live deployment phase.

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

The project team currently consists of myself, William Tan and one of our developer, Toby Paul.

William's LinkedIn: https://www.linkedin.com/in/william-tan-266584164/

Toby's LinkedIn: https://www.linkedin.com/in/toby-paul-frederick-82aa99189/

However, we are actively seeking additional team members with the necessary skills and experience to contribute to the project's success.

Specifically, we are looking for individuals with expertise in the following areas:

1. Blockchain Development: A developer experienced in Cardano's blockchain technology, smart contract development (Haskell, Plutus or Marlowe), and decentralized application (dApp) development.
2. Web Development: A skilled web developer with proficiency in HTML, CSS, JavaScript, and frameworks such as React or Angular. Experience in building user-friendly interfaces and integrating with blockchain systems would be beneficial.
3. Marketing and Community Management: An individual with experience in digital marketing, social media management, content creation, and community engagement. This team member will be responsible for promoting the platform, acquiring artists, and engaging with the community.
4. Security Auditor: A professional with expertise in blockchain security and smart contract auditing. This individual will conduct a thorough security audit of the developed smart contracts to ensure the platform's robustness and protect user funds.

We have engaged with the technical community on platforms like Twitter, Discord and Telegram to connect with potential team members. We are actively networking and exploring partnerships to identify suitable candidates with the required skills and experience.

Please note that at this stage, no specific team members have been recruited, and the team composition is subject to change as the project progresses. The final team will be formed based on the qualifications and expertise of the individuals who join the project.

We understand the importance of engaging the right individuals and securing their commitment to the project. I will ensure that all team members are willing and available to contribute their expertise before proceeding with the project.

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

The detailed budget breakdown is provided in the Gantt Chart in the website at the roadmap section: https://mambolicious.xyz/images/Gantt%20Chart.pdf

Budget Breakdown (Assume 1 Ada = $0.40):

Milestone 1: Research and Planning (1 month)

• Market research and competitor analysis: $0 (Completed)
• Defining platform features and requirements: $0 (Completed)
• Planning the project roadmap and resource allocation: $0 (Completed)

Milestone 2: Platform Development (3 months)

• Website development and design: $4,000
• Smart contract development (Haskell/Plutus or Marlowe): $5,000
• Backend infrastructure setup: $3,000
• Frontend development: $3,000

Milestone 3: Royalty Distribution System (2 months)

• Designing and implementing the royalty distribution system: $3,000
• Testing and auditing the smart contracts for royalty payments: $3,000

Milestone 4: Digital Marketing and Artist Acquisition (3-4 months)

• Digital marketing strategy development: $3,500
• Social media advertising and content creation: $3,500
• Artist acquisition campaigns: $4,000
• Community engagement and outreach: $2,000

Milestone 5: Deployment and Launch (1 month)

• Deployment of the platform on a production environment: $3,000
• Final testing and bug fixing: $3000

Total Budget: $40,000 or 100,000 Ada

The budget includes all the necessary resources for each milestone, such as development costs, marketing expenses, security audit fees, and ongoing maintenance. It also accounts for third-party services like security auditing.

Additional funding sources, if required, can be explored through partnerships, sponsorships, or grants specific to the project's objectives.

The project team will be responsible for managing the funds provided and ensuring that the allocated budget is used effectively to achieve the project's goals. Proper financial management and accountability will be maintained throughout the project's duration.

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

The cost of the project has been carefully considered to ensure value for money for the Cardano ecosystem. While the costs described may appear high, they are justified by the following factors:

1. Market Rates: The costs have been determined based on market rates for the required services and expertise. Extensive research and analysis have been conducted to ensure that the proposed budget aligns with industry standards and reflects the level of skill and effort required for each task.
2. Project Complexity: Building an NFT dance platform on Cardano and implementing features like smart contract development, backend infrastructure setup, frontend development, and the royalty distribution system require specialized knowledge and expertise. The costs associated with these activities reflect the complexity and technical requirements of the project.
3. Quality Assurance: To ensure a secure and reliable platform, a third-party security auditor will be engaged to conduct a comprehensive smart contract review. This cost is essential for maintaining the integrity of the platform and protecting user funds.
4. Resource Allocation: The budget allocation has been optimized to deliver the desired outcomes and milestones within the proposed timeline. It takes into account the necessary resources, including human resources, technology, marketing, and community engagement efforts, to successfully develop and launch the platform.

The costs have been benchmarked against prevailing rates in the industry and represent a fair value for the skills, expertise, and efforts required to execute the project successfully. By investing in the project, the Cardano ecosystem can expect to benefit from the following:

• A unique and innovative platform that empowers dance artists and contributes to the growth of the NFT market on Cardano.
• Increased adoption and usage of the Cardano blockchain as the platform attracts artists, collectors, and dance enthusiasts to participate in the ecosystem.
• Enhanced visibility and reputation of Cardano as a blockchain platform that supports creative industries and enables fair and transparent royalty distribution.
• Community engagement and participation through marketing and outreach efforts, fostering a vibrant and active Cardano community.

The project's value for money is further supported by the clear alignment of costs with the project's objectives, the skills required to deliver the milestones, and the anticipated positive impact on the Cardano ecosystem. The proposed costs have been carefully evaluated to ensure they are proportionate to the project's scope and the value it aims to deliver.

[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