Music Analytics Cardano + Web 2

[GENERAL] Name and surname of main applicant

Patrick Spitzer

[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)

12

[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)

Develop an open-source tool to mine and visualize on-chain and off-chain data for songs/CNTs, empowering artists, platforms, and stakeholders to make data-driven decisions in the web3 music industry.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[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.”

While our core functionality relies solely on Cardano's Web3 APIs, we plan to integrate optional connections to select Web2 platforms like Spotify and Google Analytics.

These supplementary data sources will enrich our analysis, offering artists a comprehensive view of their industry performance. By combining Web2 and Web3 metrics, we will provide deeper insights into an artist's reputation, market impact, and overall success. This holistic approach will empower artists to make data-driven decisions and refine their strategies while leveraging Cardano's unique advantages to advance their goals and aspirations.

Nonetheless, our primary focus and value proposition remain firmly anchored in Cardano's on-chain data. This ensures that our project's core deliverables are independent of external factors, maximizing the impact of the funding. Our approach also provides flexibility for future enhancements, aligning with our north star of continually improving and expanding our service within the Cardano ecosystem.

[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

Only the part that is related/dependent on the Blockchain will be open-source. Foundations built on top of traditional Web2 data will also be open-source. Having said that, Web2 data will not be open-sourced due to proprietary considerations.

[METADATA] Horizons

Music

[SOLUTION] Please describe your proposed solution

Currently the performance metrics of songs and the reputation of an artist is centralized and not open in the industry. Artists, music asset holders, and platform users require comprehensive tools to navigate the world of music analytics, optimize their strategies, incentivize sales and ultimately increase the Artist revenue Our analytics platform will specifically cater to those needs.

Our tool will be developed for the Cardano ecosystem with a special focus on artists and their songs. The availability of songs in form of NFTs/FTs and fractionalization of a song’s rights combined with the decentralized and open aspect of blockchain gives a unique opportunity to access vast amounts of on-chain data surrounding artists & songs.

Our solution requires building a robust data pipeline to extract relevant on-chain data, transform & regularly update it & store it for further processing in the data models. Next a suite of data models will be developed which will not only give basic insights like sales distribution of music NFTs/FTs w.r.t the artists, royalty holders of different artists etc but also personalized insights for artists w.r.t their frequent buyers/fans, psychographic segmentation of the buyers/song listeners and answer questions like popular music NFTs to buy, monetary value of an artists fans/buyers (in terms of ADA  or assets possessed) etc. As our solution focuses mainly on music, it will also provide insights regarding song streaming statistics (on various streaming App) and user engagement metrics. the solutions would be in the form of interactive visualizations for ease of understanding and usage.

As some of this information does not live in the blockchain, we will need to partner/(or collect data from APIs) with a few organizations and streaming service providers to provide accurate data in an understandable manner. (for e.g. streaming metrics from Web2 platforms like Spotify, psychographic data from social media channels & Google analytics) . Web3 data in conjuction with Web2 data will be more enriched  and will provide a unified real world experience  to users and artists alike.

Although our proposed solution caters mainly to artists and music ecosystem, our data models and visualizations can be applied to other CNTs and as the models will be open source, other people/projects can interact & utilize them.

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

Our proposed solution addresses the challenge by providing a powerful, user-friendly analytics platform for Artists and Music CNT holders. It offers robust data collection, analysis, and visualization tools, enabling users to understand the performance and potential of their music assets.

Our solution brings several significant benefits to the Cardano ecosystem:

Ecosystem Growth: By providing powerful analytics tools specifically for the music industry, we attract more artists, labels, and music-related projects to the Cardano ecosystem, fostering growth and diversity.

Cross-Industry Applicability: While focused on music, our analytics framework can serve as a model for other industries on Cardano, promoting the development of similar tools for different asset classes.

Enhanced Cardano Reputation: By showcasing advanced data analytics capabilities, we elevate Cardano's reputation as a blockchain capable of supporting sophisticated, industry-specific applications.

Community Empowerment: Our platform democratizes access to valuable data and insights, empowering not just artists but also fans and smaller stakeholders in the Cardano music ecosystem.

Interoperability Promotion: By integrating both on-chain and off-chain data, we demonstrate Cardano's potential for seamless interaction with traditional systems, encouraging more Web2 to Web3 transitions.

Data-Driven Decision Making: The tools will help Artists make data-driven decisions, for maximum success.

Greater Transparency: Our platform fosters greater transparency in the music industry by allowing all stakeholders to view and analyze the performance and potential of individual songs represented by Stream Tokens.

Economic Growth: By empowering Stream Token holders with actionable insights, this platform can contribute to economic growth within the Cardano ecosystem.

In summary, our project not only addresses the immediate needs of artists and CNT holders but also serves as a catalyst for broader ecosystem development, innovation, and adoption within the Cardano community. It exemplifies the potential of blockchain technology to transform traditional industries while fostering a collaborative, transparent, and data-driven environment.

[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?

Patrick: Proposer & Project Lead. CEO of CrowdTrendz. Significant experience in the analytics industry with significant product management experience.

Resource Availability: We possess ample determination and, with Catalyst funding we will secure the necessary resources including budget, time, technology, skills, and personnel for project execution.

Team Capabilities and Budget Allocation: Our skilled team, including experienced developers and UI/UX resources, ensures efficient fund utilization.

Data-Led Research: We will develop the Product Requirements Document (PRD) within the first Milestone after research and Collab with various artists to identify potential risks, challenges, and constraints affecting project implementation, and take proactive actions to keep the project on track. Establishing clear, measurable objectives aligned with proposal milestones. Make necessary adjustments to optimize project progress and outcomes.

Informed and timely Decision Making: As a single proposer the decision-making will be concentrated with an individual leading to no conflict of interest. The project will have timely and effective decision-making.

Prototype Development: Initiate development of a prototype using basic “Web3 Music Data Models" that are designed and implemented locally. This prototype serves as a foundation for the proof-of-concept, showcasing functional feasibility.

Testing and Pilot Implementation: Conduct testing of the prototype around month three, validating the system with diverse user scenarios and projects. Gather feedback for refining and improving the system, enabling real-world performance evaluation and user insights.

Agile & Product Led Principles: We will build in sprints of two weeks using the dual track of product management and innovation (discovery and delivery). We will clearly define the goals and milestones for the sprints ahead and maintain a public scrum board to ensure transparency. We will publish bi-weekly updates and release value incrementally. 

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

Product requirement document (2 Month)

A: Milestone outputs

We will be sharing the Product requirement document for the Project which will include a thorough evaluation of the current state of these technologies, Availability of resources and tools on blockchain, Requirements of Cardano Artists, and what will be our workflow for the Tool development.

B: Acceptance criteria

The report will show a path to the success of the project. and the report might cover topics around overview, context, background and history, target user, user flow (key features), dependencies, clarifying what we intend to do and establishing clear boundaries and expectations. 

C: Evidence of milestone completion

Report submitted

Design Draft (3 Month)

A: Milestone outputs

We will provide a file that will give the UX/UI Design Draft (Mock-ups): These mock-ups provide a visual representation of the output and appearance. This stage will have finalized designs of POC and serve as a reference to the Development side of the project

B: Acceptance criteria

The submission of the PPT file where the reviewer can check the mock look of the Output and how the Tool will function on a basic level will be enough.

C: Evidence of milestone completion

Submit the final designs as a Google PPT.

WEB 3 Development (3 Month)

A: Milestone outputs

We will start the development of tooling and approach the Blockchain part of it first, We will start the development of tooling and approach the Blockchain part of it first. This includes data ETL, data modelling and on-chain analytics.

B: Acceptance criteria

Initial data feeds are stable and operational

The submission of the POC that tackles the Analytics part on Chain 

C: Evidence of milestone completion

Code Base/Link to tool

WEB 2 Development (3 Month)

A: Milestone outputs

We will start the further development of tooling and start integrating the traditional part of the Artist Ratings and streaming data available through APIs from various WEB 2 Platforms

B: Acceptance criteria

The submission of the POC that tackles the Analytics part of the traditional industry as stated above

C: Evidence of milestone completion

Code Base/Link to tool

Close-out (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?

Project Lead: The project lead, in coordination with the project manager and graphic designer, defines project needs, and outlines UI/UX requirements, and scopes, refining the application experience, and user flow and oversees the work of the developers to ensure that a quality project is delivered.

Project Management: The project manager ensures that all Catalyst deliverables and milestones are submitted in a timely and correct fashion, and ensures team communication and coordination in the team to implement the proof of concept on both front and backends. 

UI/UX Designer: UI/UX designer will help in developing and enhancing the user interface and experience, create wireframes and prototypes, based on feedback and direction from the project lead.

Developer (Frontend & Backend): The team will hire developers experienced in the Cardano ecosystem. The developers will help in delivering the final project in line with the UI/UX design and under the supervision of the Project Lead and Project Manager.

Data Scientist: The team will hire data science specialists. These specialists will help to build and scale the open-source data science models used to enrich the Web3 data under the supervision of the Project Lead and Project Manager.

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

Project Lead: USD 2500 x 6 Month

Project Management: USD 1000 x 12 Month

Data Scientist: USD x 9/12 months

Designer: USD 2000 x 3 Month

Developer (Frontend & Backend): 1750 x 12 Months

= 54,000 USD or 150,000 ADA at 36 Cent per ADA

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

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

The requested budget of 54,000 USD is very reasonable for the scope of work outlined. This includes:

1) Designing, building, and launching an open-source POC analytics tool over 12 months

2) Research Principles & Constructs

3) Open Source Models & Documentation.

The breakdown shows efficient use of funds, with the majority going towards development. Operational costs after launch are also budgeted.

This proposal offers a cost-effective solution to create an easy-to-use tooling for music analytics, any platform that integrates the analytic tool will have additional features that will drive the usage of their app on the Cardano blockchain strengthening the narrative of RWA. This fosters increased adoption and user acceptance among the Music Artists, supporting the long-term relevance and success of Cardano