Galaxy of Art - Enhancing social experience of NFTs

[GENERAL] Name and surname of main applicant

Christian Schmitt

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

Entity (Incorporated)

[GENERAL] Co proposers and Additional applicants

Maria Papadaki

Marwan-al-Zarouni

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

Enhancing adoption with a unified platform that elevates user experience for seamless social interaction and NFT exploration.

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

We want to protect our IP

[SOLUTION] Please describe your proposed solution.

Galaxy of Art will be a comprehensive platform focusing on enhancing the social experience of NFTs. It will serve as a unified point for users to explore, trade, and interact with eachother. The platform will integrate social features such as user profiles for fostering a vibrant digital community. This approach aims to simplify the NFT experience, making it more accessible and engaging, especially for those new to the digital assets world.

• Social Enhancement: Integrates social media-style profiles, enabling users to follow and interact with each other.
• Virtual Galleries and Exhibitions (Now in 2D, in the future in the metaverse): Allows users to showcase and display their NFT collections and the bought NFT history, increasing engagement and sales.

Market Demand

The demand for NFTs has surged in recent years, with the total market value reaching billions of dollars. This indicates a growing interest in owning and trading digital assets. Galaxy of Art focus on providing a comprehensive platform for buying, selling, and exchanging NFTs from all platforms not only caters to this demand but also targets a niche market of users who seek a seamless and user-friendly experience.

Competitive Landscape

While the NFT market is expanding rapidly, it is also becoming increasingly competitive. Many platforms exist that facilitate NFT transactions, including popular ones like OpenSea, Rarible, and Foundation. To stand out, Galaxy of Art will differentiate itself by offering a unique combination of a 2D website and a 3D metaverse UX in a later stage, allowing users to interact with each other and with NFTs in a virtual environment. This immersive experience could potentially attract a significant user base seeking a more engaging NFT marketplace.

Regulatory Challenges

With the emergence of digital assets and cryptocurrencies, regulatory frameworks are continually evolving, and compliance becomes crucial. Galaxy of Art commitment to ensuring compliance with Anti-Money Laundering (AML) regulations demonstrates a proactive approach to address regulatory challenges. By integrating these compliance measures into the platform, Galaxy of Art can build trust among users and create a transparent and secure environment for NFT transactions.

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

The project will significantly benefit the Cardano community by providing a more integrated and social experience for NFT interactions. It will encourage wider adoption of NFTs within the Cardano ecosystem, promoting growth and engagement. Additionally, by enhancing the usability and accessibility of NFTs, Galaxy of Art will attract new users and investors to the Cardano network, fostering a more vibrant and diverse community.

• Enhanced Social Interactions: Promotes community building and deeper engagement within the Cardano ecosystem.
• Increased NFT Visibility and Sales: Virtual exhibitions and social features will likely boost NFT sales and visibility.
• Diverse User Base: Attracts a broader audience, including non-technical users, to the Cardano community.
• Community Engagement: Galaxy of Art's social features will foster deeper community engagement, aligning with Charles Hoskinson's vision of a collaborative and inclusive Cardano ecosystem.
• Enhanced User Experience: By improving social interactions and usability within the NFT space, the project supports Cardano's aim to power true Web3 applications and improve user accessibility.
• Market Expansion: Introducing innovative social platforms within the NFT market can attract new users to Cardano, expanding the community and blockchain usage.
• Innovation and Growth: Aligns with Cardano's growth strategy, adding value through unique social interaction features, thus contributing to the ecosystem's evolution and appeal.

[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?

Besides our internal development team, if needed we intend to subcontract specific experts to complement our existing skills and accelerate the implementation of the project.

Foresee Digital LLC

As a frontrunner in the UAE tech sphere, Foresee Digital is your partner in pioneering software development solutions. Our expertise is grounded in:

Blockchain Technology: Developing secure and transparent systems to streamline business operations and nurture trust.

Artificial Intelligence (AI): Harnessing AI to create intelligent, adaptive solutions that enhance efficiency through data-driven insights and automation.

Cyber Security: Building robust security frameworks to shield your enterprise from cyber threats, ensuring data safety and fostering trust.

Our dedication lies in crafting solutions that address local business needs with a global vision of excellence and innovation.

Website: http://blockchaincenter.ae/

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

Design of the social features

• The purpose of this milestone is to study, select and design the social features we will add to our NFT marketplace. This might include things like the ability to follow the trading history of a certain individual. The outputs of this milestone will be a document describing the social features and the rationale behind the decision. The publication of this document will serve as evidence of completion.

Marketplace functionality

• The purpose of this milestone is to implement the functionality of a basic NFT marketplace. This includes components of the architecture such as the smart contracts, the off-chain code and basic chain indexing. The output of this milestone will be a video demonstrating the functionality of the marketplace, and the acceptance criteria will be the successful submission of transactions to the Cardano testnet. 

Social features implementation

• The purpose of this milestone is to implement the functionality designed in the first milestone. This will likely involve enhancing the chain indexer to track and record the activity of different users. The output of this milestone will be a video demonstrating the implementation of the announced features, and the acceptance criteria will be the correspondence between the showcased features and the described features in Milestone 1.

Integration with front-end

• The purpose of this milestone is to integrate the features developed in the previous milestones into a front-end. The outputs of this milestone will be a video showcasing the functional frontend and the acceptance criteria will be the successful submission of transactions to the Cardano testnet via the front-end, as well as the correspondence of the showcased features with the the described features in Milestone 1. 

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

• Dr. Maria Papadaki CEO & Co-Founder is an Associate Professor at the British University in Dubai (BUiD) and a Managing Director for the BUiD_Centre for Risk and Innovation (DCRI). She has over ten years of experience in Risk Management from both Academia and Industry, with numerous years in the implementation, development, improvement, and management of risk frameworks, tools, and software’s in the Aerospace Industry. Maria worked previously in Rolls-Royce plc and the University of Manchester, leading different Enterprise Risk Management, Project Management, and Supply chain risk roles. In 2015, She initiated the idea and led the development of the first innovation Hub (H2B) for start-ups in Crete, Greece, on behalf of the Heraklion Chamber of Commerce. In addition, Maria led the development of blockchain digital certificates for BUiD's graduates, making the university 1st in the Middle East and 3rd in the world implementing Blockchain technology in education. Maria is a TEDEX speaker, with a vision to promote accessible education and knowledge transfer through developing a global university fully operated by Blockchain. Finally, Maria is appointed as a Board of Directors for the Institute of Risk Management (IRM) in London since 2018 and holds a position as a visiting lecturer at The University of Manchester. LinkedIn

• Dr. Marwan Alzarouni CSO & Co-Founder: is an internationally recognized advisor on blockchain use cases. Dr. Marwan Alzarouni is a member of the World Economic Forum’s Global Future Council on Cryptocurrencies. He is the CEO of Dubai Blockchain Center and the Director of information Services at Digital Dubai and a member of Dubai Future Council for Blockchain and is the lead for the Digital Asset Task Force (DATF). Dr. Alzarouni is also the Managing Partner at Accelliance Consultancy which regularly conducts research and studies into the applicable use cases for blockchain technology and aids in creating toolkits that can be tested and implemented by various businesses and government entities worldwide. Dr. Alzarouni is also the Co-founder and Advisor to the Galaxy of Arts, a newly established NFT Art Marketplace and social platform based in Dubai and specializing in NFT based Art. He is recently ranked as 84th out of 100 contributors to blockchain (https://cointelegraph.com/top-people-in-crypto-and-blockchain-2022/marwan-alzarouni). LinkedIn

• Christian Schmitt CTO & Founder is an entrepreneur from Germany. He studied Industrial Engineering and worked in different fields in IT consulting and project management for companies like Liebherr Aerospace. His obsession with blockchain began in the early years of Bitcoin. Easy to use processes drive him to get the most out of the technologies and he thinks two steps ahead to bring an excellent product to the blockchain community. He enjoys doing new things, loves to innovate. LinkedIn

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

Milestone 1: Design of the social features - 10,000 ADA

Milestone 2: Marketplace functionality - 40,000 ADA

• Approximately 4 weeks of work from the blockchain development team.

Milestone 3: Social features implementation - 30,000 ADA

• Approximately 3 weeks of work from the blockchain development team.

Final milestone: Integration with front-end - 20,000 ADA

• Approximately 2 weeks of collaboration between the front-end team and the blockchain development team.

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

The investment in Galaxy of Art represents value for money for the Cardano ecosystem by leveraging the growing interest in NFTs to enhance user engagement and market reach. The development of a socially-rich platform aligns with the increasing demand for more integrated and user-friendly digital asset experiences. This will potentially increase the adoption and use of Cardano's blockchain, offering long-term benefits in terms of community growth and technological innovation.

• Community Development: Investment in social features will lead to a more engaged and active community.
• Market Differentiation: Unique social and interactive features provide a competitive edge.
• Increased User Base: Attracts a wider range of users, enhancing the overall value of the Cardano ecosystem.
• Long-term Growth: Focused on sustainable community and market growth, offering long-term benefits to Cardano.

[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