Cardano Community NFT Marketplace

[GENERAL] Name and surname of main applicant

Dagmawit Getachew

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

Individual

[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)

Create a decentralized NFT marketplace on Cardano, providing a user-friendly platform for creators and collectors to interact with NFTs.

[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

The Cardano Community NFT Marketplace will be fully open source.

We intend to use the MIT License for the project's source code. This is a permissive license that allows anyone to copy, modify, and distribute the software, even for commercial purposes, as long as the original copyright notice and license terms are included.

The MIT License is a popular choice for open-source projects due to its simplicity and flexibility. It encourages contributions and innovation while providing a clear legal framework for the use and distribution of the software.

All components of the marketplace, including the frontend, backend, and smart contracts, will be made available under the MIT License. This will allow developers to inspect, modify, and enhance the platform, fostering a collaborative and community-driven development process.

[METADATA] Horizons

Community

[SOLUTION] Please describe your proposed solution

Proposed Solution: Cardano Community NFT Marketplace

Problem: The lack of a dedicated NFT marketplace tailored for the Cardano community, limiting opportunities for creators and collectors to engage with digital assets on the platform.

Solution: We will create a decentralized NFT marketplace on Cardano that provides a user-friendly platform for creators to mint and sell NFTs, and for collectors to discover and purchase unique digital assets. The marketplace will feature:

• Seamless integration with Cardano wallets: Allowing users to connect their wallets directly for easy transactions.
• Variety of NFT categories: Supporting a wide range of digital assets, including art, collectibles, and gaming items.
• Royalty system: Enabling creators to earn a percentage of secondary sales.
• Community-driven features: Incorporating features suggested and voted on by the community.

Unique Aspects of Our Solution:

• Tailored for Cardano: The marketplace will be specifically designed for the Cardano ecosystem, leveraging its unique features and benefits.
• Open-Source Development: The marketplace will be built and maintained as an open-source project, fostering community involvement and transparency.
• Community-Driven Features: We will actively involve the community in shaping the development and direction of the marketplace.

Benefits:

• Increased NFT Adoption: The marketplace will provide a convenient and accessible platform for Cardano users to discover and purchase NFTs, increasing adoption within the ecosystem.
• Support for Creators: Creators will have a platform to showcase and monetize their digital creations, reaching a wider audience and generating revenue.
• Enhanced Community Engagement: The marketplace will foster a sense of community and collaboration among NFT creators and collectors.
• Economic Growth: The marketplace will contribute to the growth of the Cardano ecosystem by creating new opportunities for economic activity.

Importance to Cardano:

The Cardano Community NFT Marketplace is crucial for the growth and development of the Cardano ecosystem. By providing a platform for creators and collectors to engage with NFTs, we can:

• Expand the use cases for Cardano: Demonstrate the versatility of the Cardano blockchain beyond traditional financial applications.
• Attract new users: The marketplace can attract artists, collectors, and other individuals who may not have previously considered using Cardano.
• Foster innovation: The open-source nature of the marketplace will encourage innovation and experimentation within the Cardano community.

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

Positive Impact on the Wider Cardano Community:

• Increased NFT Adoption: The Cardano Community NFT Marketplace will provide a convenient and accessible platform for Cardano users to discover and purchase NFTs, increasing adoption of digital assets within the ecosystem.
• Support for Creators: The marketplace will offer a way for creators to monetize their digital creations and reach a wider audience, fostering innovation and creativity within the community.
• Enhanced Community Engagement: The marketplace will create a space for NFT creators and collectors to interact, collaborate, and share their passion for digital art and collectibles, fostering a stronger sense of community.
• Economic Growth: The marketplace will contribute to the growth of the Cardano ecosystem by creating new opportunities for economic activity, such as secondary market sales and royalties for creators.

Measuring Impact:

• Number of Users: We will track the number of users who register and actively participate in the marketplace.
• NFT Transactions: We will monitor the volume and value of NFT transactions conducted on the platform.
• Creator Success: We will measure the success of creators in selling their NFTs and earning royalties.
• Community Engagement: We will track metrics such as the number of active users, community forum discussions, and social media engagement to gauge the level of community involvement.

Sharing Outputs and Opportunities:

• Community Updates: We will regularly share updates on the marketplace's progress, including user growth, transaction volume, and new features.
• Case Studies: We will highlight success stories of creators and collectors who have benefited from the marketplace.
• Open-Source Development: By making the marketplace open source, we will encourage community contributions and collaboration, ensuring that the project continues to evolve and improve.

By tracking these metrics and sharing our findings, we can demonstrate the positive impact of the Cardano Community NFT Marketplace on the wider Cardano community and inspire others to participate in similar initiatives.

[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?

Capability and Feasibility

Our team has a proven track record in blockchain development, particularly within the Cardano ecosystem. We have experience building decentralized applications, integrating with Cardano wallets, and implementing smart contract solutions.

To validate the feasibility of our approach, we will conduct the following steps:

1. Technical Feasibility Study: We will assess the technical requirements and challenges of building a decentralized NFT marketplace on Cardano.
2. Market Research: We will research the demand for NFT marketplaces within the Cardano community and identify potential competitors.
3. Prototype Development: We will develop a working prototype of the marketplace to demonstrate its functionality and usability.
4. Economic Analysis: We will analyze the potential economic impact of the marketplace, including revenue generation and costs.

Trust and Accountability

We are committed to delivering our project with the highest levels of trust and accountability. Here's how we intend to demonstrate our capabilities:

• Transparent Development: We will maintain an open-source repository for the marketplace's code, ensuring transparency and community involvement.
• Financial Accountability: We will adhere to strict financial guidelines and provide regular reports on the use of funds. All financial transactions will be documented and audited.
• Community Engagement: We will actively engage with the Cardano community, seeking feedback and input throughout the project. This will help us ensure that the marketplace meets the needs and expectations of its users.
• Experienced Team: Our team members have the necessary skills and experience to successfully develop and launch the Cardano Community NFT Marketplace.

By following these steps and demonstrating our capabilities, we believe that we can deliver a successful project that benefits the Cardano community and promotes the growth of the NFT ecosystem.

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

 Platform Development and Testing (Month 1-2)

• Develop the core infrastructure for the NFT marketplace, including user interfaces, smart contracts, and integration with Cardano wallets.
• Test the platform's functionality and ensure compatibility with Cardano's blockchain.

NFT Minting and Trading (Month 3-4)

• Implement features for minting and selling NFTs, including royalty payments and marketplace fees.
• Test the NFT trading functionality and ensure a seamless user experience.

Community Building, Marketing, and Optimization (Month 4-5)

• Launch a marketing campaign to attract creators and collectors to the marketplace.
• Engage with the Cardano community through social media, forums, and events.
• Foster a sense of community and collaboration among users.
• Gather feedback from users and identify areas for improvement.
• Implement updates and enhancements based on user feedback.
• Optimize the marketplace's performance and scalability.

 Project Close-out Report and Video (Month 6)

• Submit a comprehensive project close-out report detailing the project's achievements, challenges, and outcomes.
• Create a video showcasing the NFT marketplace and its key features.

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

1.Project Lead:Dagmawit

• Role: Overseeing the entire project, from development and testing to marketing and community engagement.

1. Blockchain Developers: Maikel and Abhijeet

• Role: Developing the smart contracts, integrating with Cardano wallets, and ensuring the platform's technical functionality.

3. Frontend Developer: Mitku

• Role: Designing and building the user interface for the NFT marketplace, ensuring a seamless and intuitive user experience.

4. Community Manager: Kibreab

• Role: Engaging with the Cardano community, fostering collaboration, and promoting the NFT marketplace.

5. Marketing Specialist: Feven

• Role: Developing and implementing marketing strategies to attract creators and collectors to the marketplace.

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

1.Development and Testing

• Blockchain Developer: ₳25,000 (2 months)
• Frontend Developer: ₳20,000 (2 months)
• Smart Contract Development: ₳10,000
• Testing and Quality Assurance: ₳5,000

2. Community Engagement and Marketing

• Community Manager: ₳10,000 (2 months)
• Marketing and Promotion: ₳5,000

3. Project Management and Overheads

• Project Management: ₳5,000
• Administrative Costs: ₳1,000

Total: ₳86,000

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

Value for Money

The requested funding of ₳86,000 represents excellent value for money for the Cardano ecosystem. The breakdown of costs provided in the previous response demonstrates how the funds will be allocated efficiently to achieve the project's objectives.

Key factors justifying the cost:

• Experienced Team: The project team consists of experienced professionals with proven track records in blockchain development, community engagement, and marketing.
• Reasonable Rates: The hourly rates for the team members are competitive and align with industry standards.
• Scope of Work: The project involves a significant amount of development work, including building the marketplace infrastructure, integrating with Cardano wallets, and implementing smart contracts.
• Potential Impact: The Cardano Community NFT Marketplace has the potential to significantly benefit the Cardano ecosystem by fostering community engagement, supporting creators, and increasing NFT adoption.