Nucast Subscriptions - Unlocking access to secure, automated Subscription Services via Smart Contracts

[GENERAL] Name and surname of main applicant

Sricharan Ganta

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

111500

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

5

[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)

Nucast is building an on-chain decentralized subscription protocol which will enable tailored, secure and automated subscription services via smart contracts.

[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

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] 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

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.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

[SOLUTION] Please describe your proposed solution.

Currently, if a project wishes to offer ongoing services to their community for which regular payments are required there's no existing protocol that allows them to automate this process. This could cover anything from gaming (in-game perks) to digital media subscriptions (nucast content or music content). Blockchain-based companies need a Web3 solution that enables fast, secure and transparent subscription activation.

Nucast is building an on-chain Subscriptions Protocol that leverages the power of blockchain to deliver secure and transparent subscription services. This protocol is a feature extension of our existing product offering. The Nucast platform has facilitated the sale of 5000+ film copies and has a robust community network of blockchain and digital media ownership enthusiasts.

NFT, Gaming & Digital Media organizations should have the ability to offer subscriptions to their communities and customers in a decentralized, transparent and easily-executed manner.

Our solution offers an automated way for projects to manage payments and subscription services using the Cardano blockchain to ensure security, transarency and reliability.

For Content Creators:

• Fan Support: Crypto-enabled backing for creators.
• Exclusive Access: Seamless subscription setup for special content.

 Business and Cloud Solutions:

• Software Subscriptions: Crypto transactions for software licensing.
• Storage Services: Cryptocurrency payments for cloud storage.

 Educational Platforms:

• Course Payments: Crypto-based subscriptions for educational content.
• Institutional Access: Specialized content access for members.

 Gaming Industry:

• Game Subscriptions: Easy crypto payments for in-game content.
• Account Upgrades: Cryptocurrency for premium gaming features.

 Media and Utilities:

• Media Streaming: Cryptocurrency for streaming subscriptions.
• Software Maintenance: Regular crypto payments for updates.

 Clubs and Loyalty:

• Membership Fees: Crypto for gym and club memberships.
• Rewards Programs: Crypto-based loyalty rewards.

We will engage with developers, users, and businesses within the Cardano community to gather feedback, refine the protocol, and promote adoption. Demonstrating impact involves showcasing real-world scenarios where our protocol facilitates secure and efficient subscription services. This could include partnerships with dApps, showcasing use cases, and providing tools for easy integration.

The uniqueness of our solution lies in its focus on decentralization, enhancing user control, and fostering trust through smart contracts. This advancement will establish Cardano as a pioneer in decentralized subscription models, attracting more users and businesses to the ecosystem, ultimately contributing to its growth and sustainability.

Smart Contract Prototype of our Subscription Protocol on Preprod Network - https://preprod.cardanoscan.io/address/addr_test1wrsxy3ylt59wyh2chuavzp0pzzpg5fu4ndc39uqkjv4v6yqrn6ysp

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

Value to Our Cardano Community:

• Innovation and Adoption: The introduction of a smart-contract enabled Subscription Protocol will allow Cardano-based projects and businesses to offer automated and transparent subscription services to their communities. This type of innovation expands the availability of customizable Web3 tools built on Cardano and fills a gap that exists for current and future projects that wish to build on Cardano.
• Ecosystem Growth: By offering decentralized and secure subscription models, we attract new businesses and users to Cardano, contributing to the ecosystem's expansion.
• User Trust and Control: Our focus on decentralization and transparency reinforces blockchain's core values, fostering user trust and control.

Measuring Impact:

• Quantitative Measures: We'll track the adoption rate of our protocol, transaction volumes, total subscription values, and the number of smart contracts for subscriptions.
• Qualitative Measures: Feedback from users and businesses will be collected to evaluate ease of use, satisfaction, and security improvements. Success stories from adopters will also be considered.

Sharing Outputs and Opportunities:

• Community Updates: We'll regularly communicate with the community through forums, social media, and AMAs.
• Partnerships: Collaborating with Cardano projects and dApps will demonstrate our protocol's real-world applications.
• Open Source and Educational Content: If applicable, open-sourcing our protocol encourages collaboration. We'll also produce educational materials like tutorials and case studies.
• Transparency Reports: Regular reports will be published to maintain transparency and keep the community informed about our progress and challenges.

[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?

Nucast has a proven track record of delivering high-quality Cardano-built products that enhance and improve the Cardano ecosystem as a whole. With an established reputation of delivering, an existing suite of dynamic products, and a proven ability to properly manage funds, Nucast is well-equipped to deliver a finalized Subscription Protocol with transparency and accountability.

Tested Proof of Concept (POC): We conducted a POC for the Subscription Protocol that demonstrates our practical approach to validate our subscription solution before full-scale implementation, ensuring feasibility and reliability.

Community Engagement and Popularity: Nucast has built a robust and engaged community of over 8000 members during its beta phase, showcasing a dedicated user base. This community has actively contributed feedback, reflecting Nucast's transparency and openness to user input.

Experienced Team: Nucast boasts a skilled team with over 30+ years of combined industry experience in blockchain technology, finance, and the entertainment industry. This expertise ensures a comprehensive understanding of revenue-based financing and robust platform delivery.

Industry Partnerships: The MOUs with seven production houses and collaborations with leading content creators indicate Nucast's credibility and strategic alliances within the entertainment sector, ensuring content availability and platform growth.

Track Record of Successful Projects: Nucast's history of successful project deliveries in web3 and entertainment domains showcases their ability to create secure and scalable solutions, fostering confidence in their capabilities.

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

• Technical Validation: Rigorous testing, including load testing, security audits, and performance evaluations, will be conducted to ensure the technical feasibility of the platform. This validation process will ensure that the platform can handle the anticipated user traffic, deliver content efficiently, and maintain a high level of security.

• Partnerships: Collaborating with content creators, media organizations, and influencers will validate the feasibility of the platform by attracting high-quality content and establishing credibility within the industry. Partnerships will provide valuable feedback, user insights, and support in driving adoption and growth.

• User Feedback: Gathering and analyzing feedback from content creators and viewers during the beta phase and beyond will validate the feasibility of the platform's features, usability, and overall user experience. Incorporating user feedback into the development process ensures that the platform aligns with the needs and expectations of its target audience.

• Validation of Market Viability: Conducting market research and analysis will validate the feasibility of the project in terms of market demand, competition, and revenue potential. Assessing the market's response, identifying user adoption trends, and monitoring key performance indicators will provide insights into the platform's viability and long-term sustainability.

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

Phase 1: Planning and Design

Duration: 4 weeks

UX/UI Design:

• Develop wireframes and prototypes focusing on subscription flow.
• Design intuitive interfaces for user-friendly subscription management.

API Design:

• Outline and document API endpoints tailored for subscription services.
• Design and document APIs for managing subscription terms, payment schedules, and access provisions.

Smart Contract and Encryption Algorithm Design:

• Architect the smart contract framework for subscription management.
• Design on-chain encryption algorithms ensuring secure and timed access to subscribed content.

Project Setup:

• Establish the development environment for backend infrastructure, frontend frameworks, and smart contracts.
• Configure version control systems and collaboration tools.
• Create the initial project structure and repositories.

Phase 2: Development

Duration: 8 weeks

Backend Development:

• Develop backend functionalities enabling subscription offerings, payment handling, and smart contract interactions.

Frontend Development:

• Implement user interfaces facilitating subscription browsing, management, and payment execution.
• Integrate frontend interfaces with backend APIs and smart contracts.

Smart Contract Development:

• Code and deploy smart contracts governing subscription terms, payments, and access control.

Security and Privacy:

• Implement robust security measures to protect subscriber data and ensure secure content access.
• Establish secure on-chain mechanisms for subscription content access and protection.

Phase 3 : Testing

Duration: 3 weeks

• Conduct comprehensive testing of smart contracts, backend APIs, and frontend integrations.
• Perform functional, security, and compatibility testing, resolving identified issues promptly.

Final Phase : Production Deployment

Duration: 2 weeks (initial deployment) and ongoing

Launch and Platform Enhancements:

• Launch the decentralized subscription protocol on Cardano.
• Promote the protocol through marketing efforts and user engagement strategies.
• Gather user feedback for continual enhancements and iterate based on community needs.
• Monitor platform usage and performance metrics for ongoing improvements.

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

Sricharan Ganta, CEO @ Nucast

Sricharan is a successful entrepreneur and business development strategist with over seven years of experience in business-driven roles and over four years of experience in the web3 domain. He has a successful track record of delivering innovative products on the Cardano Blockchain. As the CEO of Nucast, Charan is extremely passionate about community building and pioneering solutions. He currently leads a dynamic team of 15+ professionals at Nucast Labs. Additionally, he holds a Masters in Computer Science from the University of Central Missouri, USA.

Adnan Khan, COO @ Nucast

Adnan is an experienced professional in the web3 domain with a strong track record of assisting early-stage startups in building MVPs, managing communities, securing grants, and achieving scalability. His expertise lies in data analytics and web3 development, with a particular focus on on-chain analytics. 

Currently, Adnan serves as a research analyst at GravityX Capital, a prominent web3 institutional fund. He has actively collaborated with leading web3 ecosystems and startups such as dYdX, Polygon, Frontier, Bullieverse, among others. Additionally, Adnan is also a three-time Catalyst winner, having completed and closed all three proposals successfully.

Sam Jeffrey M, CTO @ Nucast

Building tech on Cardano for 3+ years. Worked as Plutus Consultant at Gimbalabs. Awarded the Presidential Award for Innovation 2021 by the Government of India.

Nucast Labs : Successfully built various scalable Cardano dapps. Nucast is proud to host a highly skilled and experienced development team of 15+ members with over 30 years of combined industry experience.

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

Phase 1

Full Stack Developer 100 ADA x 140 Hours = 14000 ADA

Senior Solution Architect 100 ADA x 50 Hours = 5000 ADA

Smart Contract Developer 100 ADA x 50 Hours = 5000 ADA

UI UX Designer 50 ADA x 50 Hours = 2500 ADA

Tech Infrastructure: 3000 ADA

Phase 2

Full stack Developer 100 ADA x 200 Hours = 20000 ADA

Senior Backend Developer 100 ADA x 200 Hours = 20000 ADA

Smart Contract Architect 100 ADA x 200 Hours = 20000 ADA

Phase 3 -

Smart Contract Developer 100 ADA x 50 Hours = 5000 ADA

Full stack Developer 100 ADA x 50 Hours = 5000 ADA

Final Phase -

Smart Contract Developer 100 ADA x 50 Hours = 5000 ADA

Full stack Developer 100 ADA x 50 Hours = 5000 ADA

Marketing budget: 2000 ADA

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

Closing a Big Gap: Cardano projects do not currently have a way to offer automated, secure subscription services to their communities and audiences. If an NFT Gaming ecosystem, for example, wanted to offer access to in-game perks in exchange for regular payments, they would need to manually manage this which is problematic and error-prone. The introduction of our smart-contract enabled Subscription Protocol will change this and will help to expand the Cardano ecosystem.

Direct Impact: The protocol enables automatic handling of ongoing payments, leading to easier, faster, and more transparent subscription service.This enhancement is crucial for the advancement of the Cardano ecosystem.

Cost Structuring: 

• Our costs align with the average industry wages for blockchain and software development.
• The budget is proportionate to the requirements of delivering a high-quality product within our timeline.

Efficient Allocation: 

• Every expense directly contributes to the protocol's development, testing, community engagement, and educational content.
• This strategic allocation ensures effective use of funds towards project goals.

Long-Term Benefits: 

• Our investment promotes innovation, draws new users and businesses, and boosts the overall utility of the Cardano blockchain.
• Positions Cardano as a frontrunner in decentralized subscription models.

Transparency and Accountability: 

• Commitment to transparently reporting how funds are utilized.
• Regular auditing to uphold accountability and resource efficiency.

Conclusion: Our project's cost is meticulously calculated to offer maximum value, reflecting market rates and the significant positive impact anticipated 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