Please describe your proposed solution.
We believe in the power of accessibility—not just to technology, but also to opportunities. The internet and specifically the Web3 space hold a lot of potential for creators to express, share, and earn. But the complex tech and unstable income can hinder this potential. That's why we're focusing on making our platform easy to use. We're taking down the barriers so creators can reach their potential, and we're making sure they can earn in a stable and reliable way.
To solve these problems, we're making blockchain easy to understand and use. We're also giving creators multiple and reliable ways to earn. Think of it as taking the best bits of platforms like Patreon and Kickstarter, and enhancing them with blockchain's benefits like security and transparency.
Our platform is perfect for creators who are already in the Web3 space or want to join, and for their supporters. It's a safe and engaging place for supporters to help their favourite creators directly. Plus, it's a space that encourages discovery and interaction between creators and supporters.
We'll measure our success by the number of creators and supporters on our platform, the consistency of creators' income, and the interaction between creators and supporters.
What sets us apart will be our user-friendly approach. And the unique ways for creators to earn, and supporters to contribute, such as crowdfunding and subscription models, making income more stable and contributions more direct and secure.
Our platform is a win for Cardano too, because it expands its ecosystem, drawing in more users. It aligns with Cardano's vision of a secure, scalable, and sustainable blockchain system and showcases its potential as a leading platform for decentralised applications.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Our solution directly tackles this challenge by developing an innovative product designed to enhance the Cardano ecosystem and open new avenues of user adoption. We have identified creators—a high-impact demographic—as a significant potential user base.
In the existing creative economy, platforms like Patreon and Kickstarter have been successful. Patreon reported 200,000 active creators and 6 million patrons in 2020, paying over $2 billion to creators since it started. Kickstarter's project-based funding model has raised over $5 billion for over 189,000 projects from 18 million backers.
Our platform combines the best of these models: Patreon's predictable, recurring income, and Kickstarter's crowd-sourced, project-based funding, but with added advantages of blockchain technology. This combination allows creators more avenues to earn, supporters varied ways to contribute, and mitigates risks such as unfulfilled project promises.
Our unique fusion of models will potentially attract a sizable portion of the already thriving creator and supporter community into the Cardano ecosystem. If we convert even a modest 1% of the combined active user base of Patreon and Kickstarter, this could mean about 240,000 new users for Cardano. With the assurance of blockchain's security and transparency, we anticipate these numbers will continue to grow.
This addition to Cardano's user base will increase transaction volume, boosting the network's overall activity and robustness. Our project also aligns with Cardano's philosophy of decentralization and economic inclusivity, thereby enhancing its standing as a blockchain leader.
How do you intend to measure the success of your project?
Ampd's innovation brings several benefits to the Cardano ecosystem. In the short term, increased adoption of Ampd by creators from both Web2 and Web3 will showcase the viability of Cardano as a platform for decentralized applications. This will contribute to Cardano's productivity and growth by expanding its user base and attracting more developers and projects to the ecosystem.
Our success will be measured by the number of new accounts set up on our platform providing a quantitative measure of user adoption. Additionally, tracking the number of creators using Ampd and their feedback on the platform's usability and benefits will provide qualitative insights into user satisfaction and the impact on their creative processes.
In the long term, Ampd's success will further enhance Cardano's productivity and growth by strengthening its reputation as a blockchain platform supporting creator-focused applications. This will attract a diverse range of creators and supporters, fostering an inclusive and vibrant ecosystem.
Measuring the number of new wallets linked to Ampd will also indicate the growth of Cardano's user base and the increased adoption of its native cryptocurrency, ADA. Additionally, gathering feedback from users about their experience with Ampd and their opinions on Cardano's ecosystem will provide valuable insights into the platform's impact on productivity and growth.
Please describe your plans to share the outputs and results of your project?
We have a comprehensive plan to share the progress of the project with the community.
Over a reasonable timeline, we will utilize various channels to communicate project updates, impact, and opportunities. This includes regular updates on our website, engaging with the community through social media platforms like Twitter, Medium posts, and the platform itself. We will also host AMA’s (Ask Me Anything) sessions to address questions and gather feedback.
Through our social media presence, we will share milestones, achievements, and success stories of creators on the Ampd platform. We will collaborate with influencers and content creators to showcase the benefits and impact of Ampd. Additionally, we will actively participate in relevant industry events, conferences, and forums to share our insights and experiences.
The results generated from the project will inform our further research and development activities. We will analyze user feedback and market trends to identify areas of improvement and future enhancements. This data will guide us in refining the platform, introducing new features, and expanding our offerings based on the needs and preferences of our community.
Our goal is to ensure transparency, accountability, and continuous communication with the community. We are committed to sharing the outputs, impact, and opportunities from the project to keep everyone involved informed and engaged.