EthioGlobe NFT Market Hub

[GENERAL] Name and surname of main applicant

Menilik Esehtu

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

Individual

[GENERAL] Requested funds in ada

40000

[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)

To overcome limited cryptocurrency access, EthioGlobe Market will create a platform integrated with local payment options through Endubis Wallet to ensure convenient access to NFTs in these markets

[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

For this propose open-source license used is the MIT License. The MIT License is known for being permissive and allowing for the reuse of code with minimal restrictions specially for cardano comunity so the project will be Open Source.

[METADATA] SDG rating

>> SDG SELECTION:

• SDG goals:
• Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
• Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
• Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
• Make cities and human settlements inclusive, safe, resilient and sustainable
• Ensure sustainable consumption and production patterns
• Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

• SDG subgoals:
• Support positive economic, social and environmental links between urban, peri-urban and rural areas by strengthening national and regional development planning
• Support least developed countries, including through financial and technical assistance, in building sustainable and resilient buildings utilizing local materials
• Support developing countries to strengthen their scientific and technological capacity to move towards more sustainable patterns of consumption and production
• Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors
• 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
• 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

• Key Performance Indicator (KPI):
• Number of countries that have national urban policies or regional development plans that (a) respond to population dynamics; (b) ensure balanced territorial development; and (c) increase local fiscal space
• Proportion of small-scale industries with a loan or line of credit
• Passenger and freight volumes, by mode of transport

>> PHDI SELECTION:

The following report is applied for the selected Planetary pressures-adjusted Human Development Index:

'''

Ethiopia is ranked 175 (Human Development Index) and when adjusted for the Planetary pressures is ranked 169 a rise of 6. 

 In 2021 it had a Human Development Index (HDI) value of 0.498 that when adjusted for the Planetary pressures-adjusted HDI (PHDI) had a value of 0.496, a difference of 0.40. 

 The Planetary Pressures adjustment factor of 1.00 is made up of the SDG9.4 Carbon dioxide emissions per capita (production) 2020 of 0.13 tonnes (indexed value 1.00), and the SDG8.4 and 12.2 Material footprint per capita of 0.47 tonnes (indexed value 1.00). 

 For more information about the details of the PHDI please reference: 

 https://hdr.undp.org/planetary-pressures-adjusted-human-development-index#/indicies/PHDI 

 https://hdr.undp.org/system/files/documents/phdi2020technicalnotespdf.pdf 

 The specific SDG targets 

 https://indicators.report/targets/9-4/ 

 https://indicators.report/targets/8-4/ 

 https://indicators.report/targets/12-2/ 

 Source data: 

 https://hdr.undp.org/sites/default/files/2021-22_HDR/HDR21-22_Statistical_Annex_PHDI_Table.xlsx (table 7)

'''

#proposertoolsdg

[SOLUTION] Please describe your proposed solution.

The solution for EthioGlobe NFT Hub is to develop a user-friendly NFT marketplace website that offers convenient payment options for Ethiopian customers. We will integrate popular local payment methods like Telebirr, CBE Birr, and Bank Transfers, as well as international methods such as debit/credit cards and crypto payment through a wallet that we have developed already. By providing a seamless payment experience, we aim to make NFTs more accessible to Ethiopians and tap into this market.

In addition, we will prioritize creating a simple and intuitive user experience on the EthioGlobe NFT Hub website for the Artist and the users. The interface will be easy to navigate, with clear calls-to-action for purchasing and minting NFTs. We will also provide instructional content and customer support to guide new customers through the minting, marketing and payment process. By delivering an excellent overall experience, we aim to encourage repeat usage and drive growth through word-of-mouth promotion.

In summary, the solution for EthioGlobe NFT Hub includes:

• Integrating local payment options, and traditional methods
• Developing an intuitive user experience across the website and mobile apps for seamless NFT purchases
• Guidance and instructions to onboard new Artists on the platform

We propose to develop an NFT market that will initially target the Ethiopian Market (in future we will target most African country). We will develop this using the NMKR API, but with a customized payment method. We will use the NMKR APIs for various functions such as minting and auctions, but the customers will have access to our payment tool (Endubis), which will be integrated into the browser, as well as other traditional payment options.

this is prototype and here you can check it out.

https://derer-nft-market-place.vercel.app/

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

The proposed solution of EthioGlobe NFT Hub addresses the challenge of limited cryptocurrency access for Ethiopian artists by integrating local payment options through the Endubis Wallet. By providing convenient payment methods such as Telebirr, CBE Birr, and Bank Transfers, the marketplace enables artists to overcome the barriers they face in promoting and selling their work locally.

The benefits of this solution to the Cardano ecosystem are as follows:

• Increased Adoption: By integrating local payment options, EthioGlobe NFT Hub encourages broader adoption of NFTs in Ethiopia, attracting more users to the Cardano ecosystem.
• Market Growth:EthioGlobe NFT Marketplace taps into the Ethiopian(aslo african) market, promoting the growth of the NFT market and expanding the Cardano ecosystem's marketplace.
• Financial Inclusion: By offering local payment options, EthioGlobe NFT Hub ensures financial inclusion for artists.
• Network Effect:With an intuitive user experience and guidance for artists, EthioGlobe NFT Hub fosters repeat usage, word-of-mouth promotion, and a network effect, enhancing the vibrancy of the Cardano ecosystem.

So Generaly speaking, the proposed solution addresses the challenge of limited cryptocurrency access for Ethipian(also African in future) artists and brings several benefits to the Cardano ecosystem, including increased adoption, market growth, financial inclusion, and the potential for a network effect

[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?

Expertise and Experience: My team consists of experienced individuals with deep knowledge in platform development, NFTs, and blockchain technology. We have a proven track record of successfully delivering projects to exacting levels of performance and quality.

To measure the success of This project

• Number of Artists onboarded: The amount of artists who have joined our platform indicates its attractiveness and value to creators.
• Number of NFTs minted: The quantity of NFTs created on our platform represents levels of user engagement and activity.
• Number Partnerships Signed: Collaborating with other organizations or platforms broadens our reach and offerings.
• Number Collectors onboarded: The increase in the number of collectors using our platform demonstrates its popularity and the availability of NFTs.

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

Milestone 1: Project Planning and Research (Duration: 2 weeks)

• Define project objectives and scope
• Conduct market research on NFT trends and demand in Ethiopia
• Identify target audience and user requirements
• Define key features and functionalities of the NFT marketplace
• Create a project plan and timeline

Milestone 2: Design and User Interface (Duration: 1 Month)

• Develop wireframes and mockups for the NFT marketplace website
• Design a user-friendly interface for browsing, buying, and selling NFTs
• Incorporate Ethiopian cultural elements into the design, if desired
• Seek feedback from potential users and make necessary adjustments

Milestone 3: Front-end and Back-end Development (Duration: 2 Month)

• Develop the front-end of the NFT marketplace website or application
• Implement user registration, authentication, and profile management features
• Build the back-end infrastructure to support NFT listings, transactions, and payments
• Integrate with external APIs for payment gateways and blockchain interactions

Milestone 4: Integration with NMKR APIs and payment integration (Duration: 4 weeks)

• Integrate with locally available payment options
• Implement necessary security measures and audit plugins
• Integrate with NMKR tools.

Milestone 5: Testing and Quality Assurance (Duration: 2 weeks)

• Conduct comprehensive testing of the NFT marketplace across different devices and platforms
• Identify and fix any bugs, glitches, or performance issues
• Perform security testing and vulnerability assessments
• Ensure compatibility with popular web browsers and mobile devices

Milestone 6: Deployment and Launch (Duration: 2 weeks)

• Deploy the NFT marketplace to a production environment
• Set up server infrastructure and database systems
• Conduct final rounds of testing and user acceptance testing
• Prepare marketing materials and promotional strategies
• Launch the NFT marketplace in Ethiopia

Milestone 7: Post-Launch Support and Maintenance (Ongoing)

• Provide ongoing technical support and maintenance for the NFT marketplace
• Monitor the platform for any issues and promptly address them
• Gather user feedback and implement improvements based on user needs
• Continuously update and optimize the platform based on market trends

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

I am planning to hire including

Full-Stack Web Development:

• Skills in both front-end and back-end development for building a user-friendly NFT marketplace website.

Blockchain Development (Cardano Ecosystem) and Payment Integration::

• Knowledge of blockchain development, particularly in the Cardano ecosystem, for leveraging NMKR API and implementing customized payment solutions.
• Experience in integrating various payment methods, especially local options like Telebirr, CBE Birr, and Bank Transfers.

User Experience (UX) Design:

• Designers with expertise in creating intuitive interfaces for a seamless user experience, attracting and retaining both artists and buyers.

Customer Support:

• Team members who can provide excellent customer support, creating guides and instructions to onboard new artists and users.

Marketing and Growth, Financial Inclusion and Local Market Expertise::

• Professionals skilled in marketing strategies to promote the NFT marketplace, drive adoption, and foster a network effect.
• Individuals familiar with financial inclusion principles and an understanding of the local market dynamics in Ethiopia.

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

we have secured an interest-free loan for the onboarding of Artists to the NFT world from the AFRIKA Group (a Collective promoting decentralized technologies within Africa). The loan of 3,600 USD will be used for the marketing and onboarding expenses. Other expenses for the development are as follows:

Human Resources:

• Project Manager: 2000 ADA/month for 6 months = 12k ADA
• Lead Developer: 3000 ADA/month for 6 months = 18k ADA
• Junior developer: 1300 ADA/month for 6 months = 7.8k ADA

Infrastructure:

• Servers and Databases: $800 ~ 2700 ADA

Total Requested: 40,000 ADA

Marketing and Support team: 3,100 USD budgeted from secured loan

This includes events, support team, marketing, and training expenses that will be paid with the loan which has been secured.

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

With the low development cost we have locally as well as the loan we have secured, we expect to deliver on this project with a very low fund from Catalyst, for the scale of the project. Our partnership with AfRIka Group, in addition to the loan, will support us in networking and access to artists within the continent.

[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