Next Trend LAB: Disruptive Social Media Advertising Revenue Model [Pay-Per-Objective Decentralized Platform on Cardano].

[GENERAL] Name and surname of main applicant

Abdulrahman Abdulbasit Adigun

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

Entity (Not Incorporated)

[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)

Introducing a pay-per-objective model to ensure advertisers only pay upon achieving campaign goals, mitigating the impact of ad fraud, and optimizing ad spend.

[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

[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 adopt a discerning open-source strategy, prioritizing transparency and integrity in ad campaign management. While sensitive algorithms for user data and privacy remain closed, we will open-source smart contracts related to our decentralized pay-per-objective model, fostering transparency and trust within the community.

[SOLUTION] Please describe your proposed solution

Problems We are solving

In the landscape of digital advertising, the menace of ad fraud looms large, siphoning substantial sums from marketers' budgets and undermining campaign effectiveness. As ad fraud continues to increase exponentially, it poses a grave threat not only to advertisers but also to the entire ecosystem reliant on online advertising. Small businesses and enterprises alike grapple with the insidious impact of fraudulent activity, with their advertising endeavors often falling victim to inflated costs and diminished returns. The pervasive nature of ad fraud necessitates a paradigm shift in the way advertising objectives are pursued and measured, prompting the quest for innovative solutions that safeguard advertisers' investments and bolster the integrity of digital advertising.

According to a study conducted by Jupiter Research and reported by the Search Engine Land blog, $84 billion in advertising budget was lost to ad fraud through irrelevant ad clicks, and it is projected that it will increase to a tune of $176 billion by 2028.

https://searchengineland.com/ad-spend-lost-ad-fraud-2023-432610

Case Study I

As a small e-commerce business owner, I face a daunting challenge in promoting my products online. With a limited budget, I must carefully test different ad creatives to determine which ones yield the best results. Yet, during this testing phase, I often find myself paying for ads that underperform, draining my already constrained resources. Even after identifying the top-performing creatives, I am still vulnerable to ad fraud, as irrelevant clicks and impressions eat away at my ad budget, leaving me with little to show in terms of ROI. While larger enterprises can absorb these losses, small businesses like mine struggle to stay afloat amidst the relentless onslaught of ad fraud on platforms like Facebook, Amazon PPC, and Google ads.

Case Study II

As a small business owner and renowned author in the United States, Gaius Octavius has faced significant challenges in promoting his books effectively and generating a reasonable return on investment (ROI). Over the past five years, he has invested over $28 in advertising his books through various channels, including Facebook ads and Amazon PPC, based on recommendations from advertising agencies and individual freelancers. Despite these substantial investments, Gaius has been disappointed by the lack of tangible results and meaningful ROI from his advertising efforts. The continuous loss incurred from ineffective advertising has left him disheartened and even contemplating leaving his writing career altogether.

Gaius Octavius's experience highlights the struggles that many small business owners and independent authors face in navigating the complex landscape of digital advertising. Despite pouring significant resources into advertising campaigns, they often find themselves unable to reach their target audience effectively or achieve meaningful outcomes. The lack of transparency and accountability in traditional advertising models exacerbates these challenges, leaving advertisers like Gaius feeling frustrated and disillusioned. As a result, there is an urgent need for innovative solutions that prioritize efficiency, accountability, and ROI in digital advertising, empowering small businesses and independent creators to thrive in the competitive online marketplace.

Our Solution

Our solution, the pay-per-objective model, offers a beacon of hope in this murky landscape of digital advertising. With our model, advertisers like myself won't incur charges during the creative testing phase, allowing us to identify the most effective ad strategies without draining our budgets. Furthermore, even after scaling up our campaigns, we will only be charged once our advertising objectives are met. Whether it's a customer completing a purchase or achieving a specific conversion goal, our pay-per-objective model ensures that advertisers only pay for tangible results, shielding us from the crippling effects of ad fraud and empowering us to achieve meaningful ROI in our online advertising endeavors.

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

Integrating decentralization into our solution will not only revolutionize digital advertising but also drive widespread adoption of the Cardano blockchain. By creating a decentralized social media application where content creators and users are rewarded based on their engagement, we can attract billions of online users to our platform.

Through our decentralized approach, we empower users to take control of their data and interactions, fostering a more transparent and equitable digital ecosystem. By building our solutions on the Cardano blockchain, we ensure scalability, security, and sustainability, laying the foundation for long-term growth and innovation.

Our solution not only addresses the challenges of ad fraud and inefficiency but also contributes to the expansion of the Cardano user base, positioning the blockchain as a leader in decentralized digital advertising and social media.

[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 this project with high levels of trust and accountability stems from our team's extensive experience in digital advertising, blockchain technology, and project management.

Firstly, our team comprises professionals with a proven track record in digital advertising, including campaign management, analytics, and optimization. We understand the intricacies of the advertising landscape and are well-equipped to develop innovative solutions that address the challenges faced by advertisers, such as ad fraud and inefficiency.

Secondly, we have deep expertise in blockchain technology, particularly in the Cardano ecosystem, through our partnership with Remostart. We are moving to successfully develop and deploy decentralized applications (dApps) on Cardano, demonstrating our proficiency in leveraging blockchain for real-world solutions.

To ensure accountability and trust, we will implement transparent and auditable processes for managing funds. This includes establishing clear budget allocations, tracking expenses, and regularly reporting on project progress to stakeholders. Additionally, we will adhere to industry best practices and compliance standards to uphold the integrity of our project.

In terms of feasibility, we will conduct thorough research and analysis to validate the viability of our approach. This includes assessing market demand, conducting user surveys, and evaluating technical requirements. We will also leverage pilot programs and prototypes to test our solutions in real-world scenarios and gather feedback for iteration and improvement.

Our overall strategy to deliver effectively is to build our own decentralized social media application where users are rewarded by using the platform with our ecosystem token that will be created on the Cardano blockchain, More details on this will be shared if this proposal gets funded.

Overall, our team's combined expertise, commitment to transparency, and rigorous validation process position us as the ideal candidates to deliver this project with trust and accountability.

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

Research and Analysis (25% completion)

During this phase, our team will delve into extensive market research to identify the prevalent pain points and challenges encountered by advertisers within the digital advertising ecosystem.

Acceptance criteria for this milestone include the completion of a comprehensive report outlining the key findings from the market research, including insights into ad fraud trends, advertiser concerns, and existing solutions. Additionally, the technical requirements and specifications for implementing the pay-per-objective model on the Cardano blockchain will be defined and documented.

Prototype Development (50% completion)

In this phase, our team will focus on developing a prototype of the decentralized advertising platform based on the pay-per-objective model.

Acceptance criteria for this milestone include the successful implementation of smart contracts on the Cardano blockchain to facilitate transparent and secure transactions between advertisers and publishers. Additionally, the prototype should demonstrate core functionality, such as the ability to create advertising campaigns, set objectives, and track performance metrics. User feedback will be collected to inform iterative improvements to the prototype.

Pilot Testing and Feedback (75% completion)

During this phase, the prototype will undergo pilot testing with a select group of advertisers and publishers to gather feedback on usability, functionality, and effectiveness in reducing ad fraud.

Acceptance criteria for this milestone include the successful completion of pilot testing, documented feedback from participants, and an analysis of the platform's performance metrics, including ad engagement rates and ROI. Based on the feedback received, necessary adjustments and refinements will be made to the platform to enhance its effectiveness.

Final Prototype and Documentation (100% completion)

In this final phase, the prototype will be finalized based on the feedback and improvements identified during pilot testing.

Acceptance criteria for this milestone include the completion of the final decentralized advertising platform, incorporating all feedback and refinements. Additionally, comprehensive documentation, including user guides and technical specifications, will be prepared to support future development and deployment efforts. Finally, a project close-out report and video will be created to summarize the project objectives, achievements, and lessons learned.

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

Abdulrahman Abdulbasit Adigun - Project Lead

Abdulrahman Abdulbasit Adigun is the founder of Next Trend LAB, a visionary entrepreneur with a passion for blockchain and AI innovation. With over 7 years of experience in graphic design, project management, product design, and digital marketing. Abdulrahman has led numerous successful projects in the tech industry. As a remote collaboration advocate, he champions the use of technology to bridge distances and foster global connections. His leadership skills, coupled with his expertise in design and technology, make him the ideal project lead for driving forward the Next Trend LAB initiative. LinkedIn Profile

Abdrasheed Mujeeb Olamide - Digital Marketing Expert

Abdrasheed Mujeeb Olamide is an experienced digital marketer with a deep understanding of ad fraud concepts and digital advertising strategies. In our project, Abdrasheed will utilize his expertise to provide valuable insights and guidance on how to design and implement a decentralized pay-per-objective advertising platform. With his insights into the challenges and nuances of digital advertising, Abdrasheed will contribute to shaping the platform's features and functionalities to mitigate ad fraud risks and optimize campaign performance.

Abdrasheed's role will involve collaborating with the development team to ensure that the platform is designed with robust mechanisms to detect and prevent ad fraud effectively. He will also contribute to defining the platform's user experience, ensuring that it meets the needs of advertisers while maintaining transparency and accountability in advertising transactions. As a key member of the project team, Abdrasheed will leverage his digital marketing expertise to ensure that the platform addresses real-world challenges faced by advertisers and delivers tangible value to its users.

LinkedIn Profile: Abdrasheed Mujeeb Olamide

Remostart a Cardano funded project, will play a crucial role in facilitating the outsourcing process for hiring a Cardano blockchain developer and data analyst. Their platform will serve as an intermediary between our project team and potential candidates, streamlining the recruitment process and ensuring that we find the most qualified professionals for our project needs.

Remostart will be responsible for:

1. Identifying and sourcing top talent: Utilizing their network and resources, Remostart will actively seek out skilled Cardano blockchain developers and data analysts who have the expertise and experience required for our project.
2. Screening and vetting candidates: Remostart will conduct thorough screening and vetting processes to evaluate the qualifications, skills, and suitability of potential candidates. This will include assessing their technical proficiency, relevant experience, and alignment with our project objectives.
3. Facilitating the hiring process: Once suitable candidates have been identified, Remostart will assist in coordinating interviews, negotiations, and onboarding procedures. They will serve as a liaison between our project team and the selected candidates, ensuring a smooth and efficient hiring process.
4. Providing ongoing support: Throughout the duration of the project, Remostart will continue to provide support and assistance as needed. They will act as a resource for resolving any issues or challenges that may arise during the engagement with hired developers and analysts, helping to ensure effective collaboration and project delivery.

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

Milestone 1: Research and Analysis: 25% completion (Month 1)

• Market research tools and subscriptions: 1,667 ADA
• Personnel costs for research analysts: 5,714 ADA
• Documentation and report preparation: 2,857 ADA
• Contingency: 1,429 ADA

Total Milestone 1 Cost: 11,667 ADA

Milestone 2: Prototype Development: 50% completion (Months 2–3)

• Smart contract development tools and licenses: 2,857 ADA
• Software development personnel costs: 17,143 ADA
• Cloud hosting services for prototype: 4,286 ADA
• Testing and quality assurance: 4,524 ADA
• Contingency: 2,857 ADA

Total Milestone 2 Cost: 31,667 ADA

Milestone 3: Pilot Testing and Feedback: 75% completion (Months 4–5)

• Advertising platform hosting fees: 5,714 ADA
• User testing incentives and rewards: 2,857 ADA
• Data analysis tools and software licenses: 2,857 ADA
• Personnel costs for pilot testing coordination: 8,809 ADA
• Contingency: 2,857 ADA

Total Milestone 3 Cost: 23,095 ADA

Milestone 4: Final Prototype and Documentation: 100% completion (Months 6)

• Documentation preparation and design: 4,286 ADA
• Video production for project close-out: 5,714 ADA
• Final adjustments and refinements: 5,714 ADA
• Contingency: 2,857 ADA

Total Milestone 4 Cost: 18,571 ADA

Total Budget Allocation: 85,000 ADA

The budget has been meticulously crafted with consideration for the volatility of ADA. The price allocation is based on an average of 1 ADA = $0.35, while factoring in the international market rates to ensure quality deliverables for each milestone.

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

The costs associated with our project represent value for money for the Cardano ecosystem in several ways. Firstly, our platform aims to attract over 3 billion active social media users to our decentralized social media application. By providing a user-friendly and engaging platform built on Cardano blockchain technology, we can significantly expand the Cardano user base and promote mass adoption of the ecosystem.

Additionally, our project aims to attract over 1 billion advertisers to our platform. These advertisers will have the opportunity to pay their advertising budgets in ADA or our ecosystem's Cardano native token, facilitating increased usage and adoption of the Cardano cryptocurrency. This integration of Cardano's native token into our advertising platform will not only drive demand for ADA but also increase the number of active users engaging with the Cardano blockchain.

Overall, the costs associated with our project are justified by the potential for significant growth and expansion of the Cardano ecosystem. By attracting billions of users and advertisers to our platform, we can create a vibrant and thriving ecosystem that benefits both users and stakeholders within the Cardano community.