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1. Social media app that restricts public content to be family appropriate.
Ability to share short videos, images, and messages. Completed Beta:
a. AI moderation to ensure safe content, b. Secure login & 2FA, c. Refer to a friend, d. App notifications, e. Instant messenger, f. Ability to post and view posts (memories)
2. [Future] Family focussed NFT marketplace and wallet. NFT Market NFTs categories bhapi will focus on:
i) Collectible NFTs: Collecting items is a critical part of our lives, and collectible NFTs are digital-scarce items that can be collected, traded, traced and shown to others. This can include our own social media creations, images, photos, audio and video.
ii) Credential NFTs: Perhaps better defined as non-fungible records, these NFTs allow us to limit the sharing of our achievements, and if shared, trace this across an ecosystem in verifiable ways.
iii) Programmatic NFTs: These NFTs make use of the programmable features of the underlying smart contracts to react to the owners and the environment through computational events.
Our initial scope will focus on point i) Collectible NFTs, by building a beta Stellar NFT digital marketplace and wallet.
1. Storefront: The Storefront represents the dashboard or the landing page of an NFT platform. Additionally, it provides the users with information regarding the assets.
The description may generally include: Asset details, Owner of the asset, Previous bids, Price history, etc. We will be using the functionality of Stellar network, including several characteristics of Stellar Smart Contracts (batching and atomicity) to implement a blockchain-based NFT contract on Stellar. The storefront will utilise the SDEX for the core functionality of the marketplace. Path Payments will be used to address the value size issue of trading pair incompatibility on the dev when using a small asset size for the NFT asset such as stroop (0.0000001). Such small amounts may cause issues on the Stellar DEX because Core internally uses INT32 for the fractional representation of prices and the INT32 type can only store values between -2,147,483,648 to 2,147,483,647.
2. Search functionality: An NFT platform must support a category division and management feature. It would essentially make it easy for the users to search for collectibles that they are willing to purchase.
3. Create listing: The functionality of an NFT marketplace is focused on the sellers. The platform should provide users the ability to create listings where they can add in their NFT details.
4. Auction and Buy: NFT buying flow is a core feature of the NFT marketplace. Users have the option to enter the bid amount, expiration date, and a watchlist showing details of the bid’s status.
5. Creation: The ability to create NFTs and link the digital content to a IFPS location - images, audio & short videos (less than 100mb)
6. Wallet: Users will need to use wallets to pay, receive, and store NFTs as well as for cryptocurrencies. The beta will focus on supporting Stellar in a default Wallet. We will also support other Stellar wallets.
Build and integrate a Stellar NFT market place and wallet into the bhapi beta mobile and web apps.
The budget will cover the creation of a beta version of the NFT Stellar digital marketplace within a six month time frame, to go live by April 30 2022.
The pandemic has led to a deterioration in mental health, with the number of young people with a probable mental illness rising to 1 in 6, up from 1 in 9.Being bullied in childhood has strong and enduring effects on both boys’ and girls’ mental and emotional health into their teenage years.
This is particularly the case for wellbeing: the more often a child was bullied in childhood, the higher their risk of low wellbeing by age 14.
Heavy social media use is shown to negatively affect wellbeing and self-esteem in adolescence, regardless of young people’s existing state of mental health.
bhapi survey of parents across Australia.
- Over 75% are most concerned about the security of their personal information.
- Over 50% were concerned about their data being sold.
- 40% are worried about what their children are exposed to.
- 39% were concerned about there being no laws about what can and can’t be shared.
- 40% would be happy to pay for access to a safe social media platform.
2. Content creators lack of data provenance of their content. Content creators don't have control over their content and are forced to be poster boards for brands.
Influencers (content creators) are hostage to opaque algorithms and terms of service.
Main reasons people unsubscribe from Influencers:
- 72% Disingenuous endorsements
- 69% Promote unrealistic or unsustainable lifestyles or body images
- 69% Influencers dramatically misrepresenting themselves or their lifestyle was a big 'turn off'
- 68% Had bought fake followers.
3. Trading digital collectibles is fun but NFTs are cumbersome to create and trade.
An example of the many steps creating, buying and selling NTFs.
Step 1: User signs up/registers an account on the NFT marketplace platform
Step 2: The user is then required to set up a crypto wallet
Step 3: Now, we arrive at the initial NFT creation step. The user can upload a digital collectible (any asset that the user wishes to tokenize) to showcase their work
Step 4: While listing the asset for sale, a user has two options: setting a fixed price or auctioning the item and finally choosing a bid
Step 5: Assets pass the moderation
Step 6: Once the new NFTs are approved, potential customers can find them in the sales listings
Step 7: The NFT owner can begin with accepting bids
Step 8: When the auction ends, the platform notifies token owners about top bids
Step 9: The NFT Marketplace platform regulates and approves the transfer of digital assets and funds
4. NFT's are costly to create or trade.
The process of creating and then selling an NFT on the Ethereum network can cost anywhere from less than a dollar to more than $1,000 USD.
The Solution
1. Social media app that restricts public content to be family appropriate. Ability to share short videos, images, and audio. To allow for greater ownership and provenance of bhapi creator's content, users can create (mint) NFTs. NFTs could be useful on a social media platform for the following purposes.
- Collectible NFTs: Collecting items is a critical part of our lives, and collectible NFTs are digital-scarce items that can be collected, traded, traced and shown to others.
- Credential NFTs: Perhaps better defined as non-fungible records, these NFTs allow to limit the sharing of our achievements, content and if shared, trace this across an ecosystem in verifiable ways.
- Programmatic NFTs: These NFTs make use of the programmable features of the underlying smart contracts to react to the owners and the environment through computational events.
2. Marketplace to easily create and trade NFTs including royalties on the Stellar network.
a. Increasing traceability of ownership, which could be used as evidence in the context of legal disputes.
b. Allowing artists to receive royalties automatically and accurately, thus eliminating royalty losses.
c. Offering an additional revenue stream for creators if they decide to create a NFT linked to their digital assets or to accompany a tangible good.
3. A Stellar digital wallet to store NFTs, perform peer to peer transfers, such as sending pocket monkey, allowance and funds to family members.
Marketing collaterals to educate parents and kids online and provide them with the knowledge to remain protected online will also be developed and provided to schools and parents.
Influencers and content creators will support bhapi's promotion and validation and keep the engagement within the platform, increasing retention. bhapi's digital marketplace, where families can create and trade digital collectibles, will allow people to communicate, play and have fun safely. It's also an opportunity for advocacy and a source for profits via referral programs.
Our goal will be to create and deliver consistent and relevant messages to the bhapi target market according to the bhapi core brand and objectives. Trust and credibility will be essential and will support freemium accounts conversion to premium accounts.
Our primary marketing goal are :
support sales and create a high-level awareness of the bhapi brand within our target audience/geographies.
Our first phase is a public beta launching in September, focusing on Brazil and Australia.
In the second phase, in April 2022, we will extend the target market to the US and English-speaking countries.
The funding will support the development of a beta of our Marketplace and supporting wallet. The main components to be created in the roadmap are the following features:
1. Storefront: The Storefront represents the dashboard or the landing page of an NFT platform. Additionally, it provides the users with information regarding the assets. The description may generally include: Asset details, Owner of the asset, Previous bids, Price history, etc.
2. Search functionality: An NFT platform must support a category division and management feature. It would essentially make it easy for the users to search for collectibles that they are willing to purchase.
3. Create listing: The functionality of an NFT marketplace is focused on the sellers. The platform should provide users the ability to create listings where they can add in their NFT details.
4. Auction and Buy: NFT buying flow is a core feature of the NFT marketplace. Users have the option to enter the bid amount, expiration date, and a watchlist showing details of the bid’s status.
5. Wallet: Users will need to use wallets to pay, receive, and store NFTs as well as for cryptocurrencies. The beta will focus on supporting Stellar in the Wallet. There will be support to add your own wallet in-app or integrate existing wallets inside the application to make the experience hassle-free.
6. Creating: The ability to create NFTs.
Cost break down:
UX / UI $1,080.00
Auth and sec $2,880.00
User profiles $1,680.00
Home page $3,680.00
Search & filters $3,840.00
Product page $1,800.00
Reviews & ratings $1,920.00
Shopping cart $1,920.00
Payment & Wallet $3,840.00
Notifications $1,600.00
Integration $4,080.00
NFT management $4,080.00
Inventory management $1,760.00
Buyer panel $2,560.00
Author panel $5,200.00
Admin panel $3,280.00
QA $1,600.00
User testing & bug bounty $1,200.00
Total $48,000.00
Michael Esber - CEO
An entrepreneurial leader with over 20 years’ experience working with startups and fast-moving tech organisations. To date his career has seen him work across Fintech, Health, Gaming and Defence and now Social Media.
Ivan Brisot - CFO
A professional Financial Manager with extensive Australian & International – Finance, Accounting, Audit, Compliance, Risk Management & Administration experience across a broad range of industries.
Amanda Mariatti-CMO
A marketing manager with more than ten years of experience leading product launches and marketing campaigns across Australian & International markets. Extensive experience developing and building strategies to ensure businesses succeed in highly competitive markets.
Ruel Mindo - CTO
A seasoned Solution Architect with over 10 years’ experience building apps and web solutions.
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.