NFT Project within Everscale Africa Community
Description
Everscale Blockchain, being community-driven, aspires to constantly roll out fresh and innovative activities and ideas from within its global participants. Existing NFT gaps in Africa have already been identified and Everscale intends to bring out the visibility and operation of NFTs and marketplaces within Africa to its membership. The main goal is to assist content creators in Africa engage fully in the marketplace by being able to transact and gain maximum return for their works and thus attract high-traffic to the business community.
Type
USE CASE DEVELOPMENT- ONCHAIN
Duration
February 1, 2022 -April 1, 2022
Voting
None.
Motivation
Product design and content creation is growing like never before in the African continent. New music writers composing stellar tastes of rhymes, event designers giving gem of design in their productions and as photographers bring out that impossible angle puzzling the definers of impossible. The desire to have value monitoring tools and a marketplace is increasing as well. Copyright infringements becoming the Elephant in the room. The growth of despair as a result of lack of visibility and return for investment is now the concern. Solutions have been suggested without any one of them addressing the core of the problem. This kind of round robin state of life dates from ancient days with the worst being the steady growth of these challenges to the point of overlapping success. The quagmire has led to lesser social economic standards of living compared to the global arena and ineffective corporate structures. Bureaucracies have caused slow and inconsistent decision making with poor facilities leading to untraceable tracks of history and hence a blurred future. African society is now showing the hunger for new structures and policies. After the evaluation of the challenges faced by the African communities, it was discussed and found out that new structures need to be put in place to provide new solutions for the existing problems. NFTs have the answer to a lot of these challenges that are prevalent but not limited to: music, photography, transport and ticketing, art and design, construction and fashion, e.t.c. In the resolutions, it was considered prudent to look for stakeholders with the same vision, to benchmark, work and associate. The global Everscale community contains all these qualities and passion; it has become the basis of our desire to engage and transform the community together.
Objectives
The Africa SG wishes to achieve the following objectives:
A. Activate the Everscale Africa NFT community by creating the African NFT infrastructure…
B. Popularize NFT space within the continent.
C. Create NFT education workshops and advanced classes within the Everscale Africa community. .
D. Introduce NFT marketplace options and create a local market.
E. Observe NFT’s Minting processes and Market Trends.
F. Leverage and create synergy with other existing NFT infrastructure within Everscale.
Requirements
Subsequently, the SG intends to accomplish the following to make NFT growth in Africa a reality.
- Create Everscale Africa NFT Marketplace infrastructure.
- Identify, design and publish relevant proposals to realize NFT adoption.
- Preliminary moderation and identification of mentors within the space.
- Offer marketing support to the Everscale Africa NFT Marketplace on social media.
- Engage both investors and users who shall facilitate funding of African SG projects…
Technical Requirements:
Marketplace as Personal Business
We intend to launched an NFT marketplace as our business. To do this, we shall target our audience. What’s more, we have detected challenges that we plan to handle. Those challenges are based on the problems of our continental users.
1. Target Niche
Experts have recommended betting on a vertical market instead of a horizontal one. The first one means that its participants aim to provide goods/services that match the requirements and expectations of a certain category of customers. Amazon and eBay are not the best examples so far as they offer everything to everyone, being horizontal suppliers.
In our marketplace we have decided to focus on artists, musical artists who create their creativity in Africa.
As NFT popularity grows, NFT developers have been busy creating markets for these files. Some current markets are general trading spaces for any category of NFT. Other marketplaces cater to the high-end art world or deal with files related to specific online games or niche topics.
A list of popular NFTs :
- Digital Artwork
- Music
- Clips
- GIFs
- Photos
- Tweets
- Games
- Domains
- Tokens
- Licenses
2. Propose User Roles
- Buyers
- Artists
- Admins/Moderators
Must-Have Features of NFT Marketplace to Help Us Succeed
Before listing the remaining features, the main reasons why many people get interested in non-fungible tokens and NFT marketplaces in general is because blockchain technologies allow enshrining the rights and making digital assets way simpler to work with. Anyone can also freely trade NFTs.
Other critical features include:
1. Storefront
It is the primary feature. It will contain such info as bids, preview, owners, price history, and more
2. Filters
This functionality is similar to the previous one as the main idea is helping choose the right product fast and effortlessly. It divides all offers into several categories that impact buyer’s decisions in most situations. These will be prices, recent goods, hot offers, best-selling, and more. Users will pick items they need faster, and it increases the probability of buying them.
3. Creating Listings
We shall give the right to customers to develop and send collectibles.They will do that quickly and with no obstacles. We shall generate a page where customers can submit a file, type in the specific item data. Such info as title, tags, and description is a must.
4. Listing Status
Those who offer goods and pass item verification procedures should benefit from this option. It will allow checking the status of the confirmation procedure. This feature will be useful for implementing collectible verification.
5. Bidding Option
Making it possible to both purchase items and bid on them is critical for this project. It intend to attract more users as some are interested in flexible pricing and do not wish to buy collectibles at their starting fees. Bidding is always fun. We shall add an expiration date for an auction feature. Registered participants should have an opportunity to see information about the current status of their bids. It will help them decide whether to buy or keep on placing new bids. An auction watchlist will be like a separate important feature.
6. Wallet
We planned to use and integrate Everscale Wallet:
- TON(EVER)Crystal Wallet by Broxus extension
- TON(EVER)Surf
- extraTON(extension)
- Oberton
- Native Token ( Currently in development)
7. Ratings
This characteristic is for newbies. Beginners may have no idea where to start from, how the system works, and how to choose items fast. Having a look at one’s rating to find out whether other users consider this specific seller a reliable one might be enough. Thanks to ratings, the platform’s participants can rate others and provide feedback based on their impressions. It will help others see how credible every user is. Users with the top ratings obtain attractive rewards.
Time and Technical Requirements
We expect to spend time on this features:
- UX/UI Development
- Security
- User Profiles
- Main Page
- Product Page
- Rating Page
- Notifications
- Crypto Integration
- Buyer/Seller Panel
- Admin Panel
- Management (different types)
Proposed KPIs
| KPI | Item Details | Timelines- Approx |
|---|---|---|
| KPI-1* | Create NFT marketplace infrastructure & Finish correction in business model | 2 months |
| KPI-2 | Engage NFT enthusiasts on the social networks | |
| KPI-3 | Conduct workshops for the African NFT Community | |
| KP!-4 | Finalize on Marketing tools necessary for mass adoption |
*KPI 1 in detail
| Activity | Hours |
|---|---|
| UX/UI Development | 42 |
| Authorization and Security | 72 |
| User Profiles | 42 |
| Home page | 84 |
| Search and filters | 96 |
| Product page | 42 |
| Reviews & Ratings | 48 |
| Shopping cart | 48 |
| Payments | 42 |
| Notifications | 32 |
| Wallet Integration | 96 |
| NFT management | 96 |
| Inventory management | 42 |
| Buyer panel | 64 |
| Author panel | 132 |
| Admin panel | 85 |
| Total | 1063 |
Business Model
How Will Everscale Africa NFT (EAfrica - temporary name) Marketplace Make Money?
What exactly will be implemented
The service fee is equal to 2.5 percent. Meaning, if an NFT worth 1000 EVER is being sold, then EAfrica gets to keep it . EAfrica provides its marketplace infrastructure completely free of charge. As such, it doesn’t cost anything to list an NFT(only a fee for minting).
Bidding charges – Interested NFT buyers have to pay a specific fee for bidding successfully for the crypto collectible sold on the NFT marketplace. They have to place their offer before the deadline after including details of the lowest price and highest price.
Ideas for discussion
Listing fees – NFT marketplaces act as a hub for thousands of crypto collectibles developed by content creators. They categorize each NFT into different types and display them appropriately. The categories can be divided based on price, demand from investors, and recently added
Affiliate Program – It is an exclusive program for partners of NFT marketplaces. The NFT selling platform charges a specific fee for offering various incentives like real-time sharing of statistics on the demand of crypto collectibles, for conducting airdrop and bounty programs, ensuring the instant creation of auctions, and HTTP API integration for filtering of information related to bids, digital assets, and wallet addresses.
Project Funding
In our initial offering we shall have individual investors that shall support the project upto finalizing of the development stage.
We have outlined continued project support beyond platform development in a seperate document inorder to attract investors and grants.
Below is the total project costs points for the next 6 months as per above mentioned KPI’s .
Development of Marketplace.
Workshops and training
Marketing and promotion
Administrative & Program Support :
Approx costs for above 90,000 Evers
Everscale Wallet Address
0:c7415f7c58b4bb457b21cbe43cecba1c201c4d4a61bd4f0f2b7cc8166c896e65