Web 3 Video-Sharing Platform

[GENERAL] Name and surname of main applicant

Ayo Olu-Ayoola

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

Entity (Incorporated)

[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)

The way revenue is shared on most video-sharing or video-access platforms still leaves a lot to desire.

We introduce blockchain to make groundbreaking innovations in this industry and Cardano reaps

[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

With any of the following licences, we will accept everyone who wants to join us to make this solution even more significant, better and more inclusive.

MIT License

Apache License 2.0

BSD 3-Clause "New" or "Revised" License

BSD 2-Clause "Simplified" LicenseLow

Thank you.

[SOLUTION] Please describe your proposed solution

Let's face it, we've been stuck with the same old way of sharing and accessing videos on the web for far too long, known as Web 2. It's time to explore the hidden opportunities that await us in a decentralized, open-source Web 3 application like Cardano.

The current video-sharing models may have outstayed their welcome.

We should envision a new video-sharing platform on the Cardano blockchain, where we can reimagine how creators are paid and how money is shared. We also want to create opportunities for consumers to earn money.

Rather than just imagining what video-sharing could look like on Web 3, we want to make it a reality. This platform will be completely open-source.

As Henry Ford once said, if he had asked customers what they wanted, they would have said a faster horse instead of a combustion engine. Similarly, we believe that by creating this platform, we're meeting a need that people might not even realize they have yet.

When we first proposed this idea in a focus, we received many interesting responses. It's clear that if we don't create it, someone else will. Decentralization brings democracy and inclusivity to finance, breaking down national barriers in how monetary value is exchanged globally. It's time to democratize how money is earned on social media, starting with this concept.

The possibilities are nearly limitless, and we're excited to see where this journey takes us.

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

Before TikTok arrived, many probably dismissed the idea of needing another video-sharing app. However, TikTok proved them wrong by creating a new class of influencers and millionaires. While TikTok isn't open-source or decentralized, it has shown the potential of video-sharing apps.

Our proposed Cardano Web 3 video-sharing application aims to incorporate the best features of existing Web 2 apps while offering additional opportunities. If TikTok had such a significant impact, one can imagine the potential impact of a Web 3 video-sharing application.

Expected impacts include increased ADA ownership, leading to a larger coin-market cap, and a rise in Cardano wallet users. This impact could be even greater if we can find ways for content consumers to earn money on the platform.

[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?

We have a strong track record of successfully executing ideation projects, demonstrating high levels of trust and accountability. Our experience in managing complex projects, coupled with a deep understanding of blockchain technology, positions us well to deliver this project.

To validate the feasibility of our approach, we will conduct thorough market research and engage with experts in the field to ensure our platform meets users' needs and aligns with the capabilities of the Cardano blockchain. We will also create a detailed project plan with clear milestones and deliverables to track progress and ensure timely delivery.

We will implement strict financial controls and reporting mechanisms to manage funds. This includes regular audits by independent third parties to ensure transparency and accountability. Additionally, we will provide regular updates to the Cardano community on the use of funds and project milestones to maintain trust and transparency.

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

Concept Development

• Milestone Outputs: Detailed concept document outlining key features, user flow, and monetization model.
• Acceptance Criteria: Approval of concept document by project stakeholders.
• Evidence of Milestone Completion: Signed-off concept document by project stakeholders.

Platform Ui/Ux Design

• Milestone Outputs: Design mockups and user interface prototypes.
• Acceptance Criteria: Ui/Ux Design of prototype
• Evidence of Milestone Completion: Share Ui/Ux with reviewers

App Development

• Milestone Outputs: Functional application with basic features running on Cardano
• Acceptance Criteria: Successful deployment of application
• Evidence of Milestone Completion: Deployment confirmation and demonstration of basic functionality by reviewers

Testing & Optimization

• Milestone Outputs: Bug-free application with optimized performance.
• Acceptance Criteria: Completion of comprehensive testing and optimization process.
• Evidence of Milestone Completion: Test reports showing bug fixes and performance improvements.

User Adoption & Growth Ads

• Milestone Outputs: Growing user base and increasing engagement metrics through running of a create and get paid campaign.
• Acceptance Criteria: Demonstrated increase in user registrations and platform engagement.
• Evidence of Milestone Completion: User metrics report showing growth in user base and engagement.

Community Engagement & Feedback and Project Completion Video.

• Milestone Outputs: Positive user feedback and ongoing improvements.
• Acceptance Criteria: Implementation of user suggestions.
• Evidence of Milestone Completion: Video and project report.

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

Ayo Olu-Ayoola

Project Lead/Founder

Project Manager.

Experience/Results: 14+ years in entrepreneurship, business management, leadership and business development. 

Skills: Leadership, strategic thinking, business acumen

Responsibilities on this Project: Overall project management, vision setting, and decision making.

https://x.com/oluayoola7d/ 

‘Yemi Adetayo

Product Manager

Experience/Previous Results: 7 years in product management and business development. Sectors: Tech, E-commerce, and IT.

Skills: Product management, market research, communication.

Responsibilities on this project: Defines product features, sets priorities, and ensures product meets business goals.

https://linkedin.com/in/yemisolvesadetayo/ 

 

Anthony Aliduh

Software Developer 1

Experience/Previous Results: E-commerce, Travel, EduTech

Skills: Full Stack Developer, PHP (Laravel) Expert, Bootstrap, Jquery

Responsibilities: Build and maintain the web application and API

https://github.com/tonymandated 

Femi Adewunmi

Software Developer 2

Experience/Previous Results: KIMPACT NGO

Skills: Python, HTML, CSS, Javascript, FrontEnd Development

Responsibilities: Build and maintain the front end point of the web application interface

Outsourced on need basis

Software Developer 3

Experience/Previous Results

Skills: Programming languages (e.g., JavaScript, Python), web development frameworks, version control (e.g., Git).

 Responsibilities: Build and maintain the web application and API.

Abiodun Adekanmi

Product UX/UI Designer

Experience/Previous Results: Real Estate, FinTech

Skills: User experience design, user interface design, prototyping tools.

Responsibilities: Design user interfaces and user experiences for the web application.

https://www.linkedin.com/in/abiodun-adekanmi-889928ba/ 

Edwin Igwe 

Quality Assurance (QA) Engineer

Experience/Previous Results: 3 years experience. Web and mobile Development, Tests, and Deployment. 

Skills: Testing methodologies, bug tracking tools, attention to detail.

Responsibilities: Tests the web application for bugs, usability, and performance.

https://github.com/iGWE-eDWIN

https://www.linkedin.com/in/edwin-igwe-ab83a2249 

Contracted&Outsourced

DevOps Engineer

Experience/Previous Results: 

Responsibilities: Sets up and maintains the infrastructure, deployment pipelines, and ensures scalability.

Skills: Cloud platforms (e.g., AWS, Azure), containerization (e.g., Docker), CI/CD.

Ayo Olu-Ayoola

Marketing/Sales Specialist

Responsibilities: Develop marketing strategies, promotes the product, and acquires customers.

Skills: Digital marketing, social media management, customer acquisition.

Peter Oyamenda

Business Development/Partnerships**

Experience/Previous Results: travel in, real estate, and agriculture.

Responsibilities: Identifies and establishes partnerships that can benefit the business.

Skills: Networking, negotiation, strategic planning, Sales.

https://www.linkedin.com/in/okosun-peter-7b96a3167/ 

Happiness Johnson

Finance/Administration

Experience/Previous Results:  Financial Account Officer at Jumia, MBA in FinTech 

Responsibilities: Manages finances, budgets, and administrative tasks.

Skills: Financial planning, budgeting, organizational skills.

https://www.linkedin.com/in/happiness-johnson-054277228

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

Budget Breakdown

Concept Development - ₳5,000

• Research and documentation of key features, user flow, and monetization model.

Platform Design - ₳7,000

• Design mockups and user interface prototypes.

Development - ₳15,000

• Building the application on the Cardano blockchain, ensuring scalability and security.

Testing & Optimization - ₳5,000

• Conducting extensive testing to identify and fix bugs, and optimize performance.

Launch & Deployment - ₳5,000

• Releasing the application to the public and ensuring a smooth deployment process.

User Adoption & Growth Ads - ₳7,000

• Attracting users and content creators to the platform, driving engagement and growth.

Miscellaneous - ₳3,000

• Contingency for unexpected expenses.

Project Management - ₳3,000

Total: ₳45,000

With this budget we provide a breakdown of costs for each stage of the project, allowing for better management of funds and ensuring that the project can be completed successfully within the budget.

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

As of March 2024 Youtube has over 2.49B active monthly users and grossed over $31.5B in revenue.

An ordinary 10% slice of that market share will see over 200M people move to Cardano community

Moreover, the project cost represents value for money for the Cardano ecosystem for several reasons. Firstly, the costs are justified based on industry standards and the project's complexity. For example, the development cost is in line with typical freelance rates for blockchain development, ensuring that skilled developers are adequately compensated for their work.

Additionally, the budget includes funds for thorough testing and optimization, which are crucial for ensuring a high-quality, bug-free application. This investment in quality will ultimately benefit the Cardano ecosystem by providing users with a reliable and user-friendly platform.

Furthermore, the budget allocates funds for user adoption and growth, which are essential for the success of the platform. By investing in marketing and user acquisition strategies, the project aims to attract a large and engaged user base, which will contribute to the overall value of the Cardano ecosystem.

Overall, the cost of the project is justified by its potential to deliver a valuable and innovative video-sharing platform on the Cardano blockchain, which will benefit the ecosystem as a whole.