NEWM: Marketplace Secondary Sale

[GENERAL] Name and surname of main applicant

Ryan Jones

[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

500000

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

11

[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)

We’ll build a scalable backend and user-friendly frontend to enable seamless secondary stream token sales, providing a mass-market solution with flexible infrastructure & intuitive UI/UX for users.

[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

All development and addition to the NEWM GitHub repository made to deliver this solution will be open source similar to the existing codebase.

[METADATA] Horizons

Marketplace

[SOLUTION] Please describe your proposed solution

NEWM will build both frontend and backend components necessary to support the secondary sale of stream tokens on the existing NEWM Marketplace platform. This development will expand user engagement by allowing fans who have purchased stream tokens to resell them, creating a more fluid and interactive marketplace. The addition of secondary sale functionality empowers users by providing greater flexibility, enabling fans to unlock additional value from their token purchases. This also benefits artists, as increased token liquidity can boost fan support and participation in their projects. By providing an intuitive interface accessible to both Web3-savvy users and newcomers, the platform will foster a seamless and inclusive experience that maximizes the benefits of token ownership.

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

The success of this project will bring continued value to the Cardano community by increasing on-chain activity through both primary and secondary stream token sales, driving higher transaction volumes. This will enhance Cardano’s position as a versatile platform for decentralized applications, attracting new users and developers to the ecosystem. Additionally, by enabling secondary sales, we are fostering a more dynamic and participatory music marketplace, empowering artists and fans alike. Finally, as open-source technology, this innovation could inspire further projects on Cardano, contributing to the network's growth and long-term sustainability.

[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?

The NEWM team has a proven track record of successfully delivering on catalyst proposals/projects and demonstrating our capability to execute with high levels of trust and accountability to the Cardano Community. 

Our commitment to transparency has strengthened our standing as an accountable team. We maintain and nurture open lines of communication through all of our community channels, and support a culture of mindful listening where community members feel heard. We also consistently share our code and development progress with the wider ecosystem, underscoring our dedication to open-source principles and community engagement. This level of openness encourages community feedback and critique, enabling continuous improvement and bolstering the reliability of our software.

We have also organized the team responsible for the delivery of this initiative and prioritized the work on our product roadmap such that required resourcing and all necessary skill sets would be available to implement immediately upon receiving project approval.

Past funded and delivered projects include, but are not limited to:

• The RecordStore 2.0 – newm.io/recordstore 
• NEWM Studio Music Distribution Platform – newm.studio 
• NEWM Marketplace 
• NEWM Music App
• Music Video Festival (annual event in collaboration with Nucast) – newm.io/musicvideofest
• Kogmios Library 

Our past successful Catalyst fund proposals, our continued achievement with adapting and bridging industry gaps and our commitment to transparent communication and code delivery provide a robust basis that ensures our ability to deliver this with trust and reliability.

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

Solution Research and Product Summary Documentation (2 Month)

A: Milestone Outputs:

Feasibility research conducted to determine refined project timeline and general solution requirements. Product feature documentation outlining functional (UX/UI) and technical (backend/server) requirements to build the secondary sale feature of the NEWM Marketplace. This documentation will be leveraged as guidance in the next phase of UI design and the creation of the formal Product Requirements Document (PRD).

B: Acceptance Criteria:

Functional and technical overview documentation is created and made available for the project team.

C: Evidence of Milestone Completion:

Feature summary document (Google Doc, PDF).

UI Design and Formal Product Requirements Document (2 Month)

A: Milestone Outputs:

Figma (or similar) UI wireframes and comprehensive designs and the features’ Product Requirement Document (PRD), both of which will be utilized by the Product Delivery and Development teams to create development tickets and as a reference for Quality Management team members when reviewing and testing the to-be-developed feature.

B: Acceptance Criteria:

Designs and PRD are created and leverageable by Product, Development, and Quality teams for the next phase (i.e., development).

C: Evidence of Milestone Completion:

Figma files and PRD (Google Doc, PDF).

Product Development (3 Months)

A: Milestone Outputs:

GitHub repository(ies) updated and feature code developed. Feature code deployed to the staging environment and ready to test on TestNet.

B: Acceptance Criteria:

Codebase and feature deployable to TestNet environment, developed to design and specification

C: Evidence of Milestone Completion:

Codebase accessible via Github

Testing and Critical Bug Fixes (2 Month)

A: Milestone Outputs:

Feature QA and testing reports. Updated codebase with bug fixes and enhancements defined during the testing period.

B: Acceptance Criteria:

The codebase is tested and meets all requirements outlined in PRD and UI designs, all critical bugs have been resolved, and the feature is ready for Production/MainNet deployment.

C: Evidence of Milestone Completion:

Test case documentation (Google Sheet, PDF). Bug and enhancement report (Google Doc, PDF). Video of the creation of the secondary sale feature set and functionality (on TestNet) prior to launch.

Production Launch (1 Month)

A: Milestone Outputs:

Feature launched on NEWM Marketplace Production environment.

B: Acceptance Criteria:

The secondary marketplace codebase is deployed to the Production/MainNet environment.

C: Evidence of Milestone Completion:

Video of the creation of the secondary sale feature set and functionality (on MainNet). NEWM Marketplace Release Notes (Google Doc, PDF).

Closeout (1 Month)

A: Milestone Outputs:

Final close-out report.

Final closeout video.

B: Acceptance Criteria:

Final close-out report.

Final closeout video.

C: Evidence of Milestone Completion:

Final close-out report.

Final closeout video.

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

NEWM

Role(s): Product Management, Project Delivery Management, Solution Development

Link: NEWM

Responsibilities: Oversee overall project execution from design to delivery. Create all project milestone evidence documentation and deliver proposed solutions.

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

Project Lead: USD 1500 x 11 Month

Project Management: USD 1000 x 11 Month

Designer: USD 2000 x 3 Month

Developer (Frontend & Backend): 4000 x 9 Months x 4

Contingencies: USD 2500

= 180,000 USD or 500,000 ADA at 36 Cent per ADA

By quoting the Scope and milestones in advance we are taking an obligation to fulfill our promise even if the costs are higher than the current prices and saving the community risk of unforeseen price action or higher partnership costs.

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

Building the technical infrastructure for secondary stream token sales represents significant value for the Cardano ecosystem through increased on-chain activity and engagement. By enabling fans to resell their stream tokens, we create a more dynamic marketplace that incentivizes both artists and fans to participate more actively. This functionality will both increase transaction volume on Cardano, and help attract a broader range of users, including those unfamiliar with Web3, further expanding Cardano’s user base. Ultimately, strengthening our music marketplace with greater utility and accessibility will in turn strengthen Cardano's position as a leader in decentralized applications, particularly in the music and creative industries.