Please describe your proposed solution

Problem Perception

Creators often face significant challenges in securing funding and engaging their communities effectively. Traditional crowdfunding methods can be limiting, as they do not always provide fair support for artists and lack efficient mechanisms for preorder and digital collectible fulfillment. This situation hampers the ability of creators to bring their projects to life and build strong connections with their fans.

Approach and Reasons

We propose Bakpak as a solution to these challenges. Bakpak is designed to leverage principles to enable creators to crowdfund preorders and offer automatic digital collectible fulfillment. This approach allows fans to invest directly in their favorite artists, fostering a stronger, more engaged community.

Engagement and Impact

Our project will engage a broad spectrum of creators, from musicians and visual artists to writers and game developers. Fans and backers will also play a crucial role, as their support and investment will drive the success of the projects on Bakpak.

To demonstrate and prove our impact, we will track key metrics such as the number of successfully funded projects, the amount of funds raised, the engagement levels of backers, and the growth of the creator communities. Additionally, we will collect testimonials and case studies from both creators and fans to showcase the positive outcomes facilitated by Bakpak.

Unique Aspects and Benefits

What sets Bakpak apart is its integration of digital collectables and DeFi into creative crowdfunding. By offering direct investment opportunities and automatic digital collectible fulfillment, Bakpak not only simplifies the funding process but also enhances fan engagement and loyalty. Creators benefit from a more equitable and efficient funding mechanism, while fans enjoy exclusive access to digital collectibles and a closer connection to the artists they support.

This solution is important to Cardano because it exemplifies the potential of decentralized finance and community engagement within the Cardano ecosystem. By fostering a vibrant and supportive environment for creators, Bakpak can drive adoption and showcase the innovative capabilities of Cardano’s blockchain technology. Through Bakpak, we aim to empower creators, build stronger communities, and highlight the transformative power of the creative economy.

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

Value to the Cardano Community

The success of Bakpak will bring significant value to the Cardano community by demonstrating the practical applications of decentralized crowdfunding. Our platform will:

• Empower Creators: By providing a fair and efficient funding mechanism, Bakpak will help creators bring more diverse and innovative projects to life, showcasing the potential of Cardano's blockchain technology.
• Enhance Community Engagement: Bakpak will foster stronger connections between creators and their fans, promoting a vibrant, supportive ecosystem within the Cardano community.
• Drive Adoption: By offering unique features such as direct investment opportunities and digital collectible fulfillment, Bakpak will attract new users to the Cardano ecosystem, increasing its user base and visibility.

Measuring Impact

To measure the impact of Bakpak, we will track both quantitative and qualitative metrics:

• Quantitative Metrics:

• Number of successfully funded projects.

• Total funds raised through the platform.

• Number of creators and backers using Bakpak.

• Growth rate of user engagement and participation.

• Qualitative Metrics:

• Testimonials and feedback from creators and backers.

• Case studies highlighting successful projects and their journeys.

• Surveys to gauge user satisfaction and identify areas for improvement.

Sharing Outputs and Opportunities

We will share the outputs and opportunities resulting from Bakpak through various channels to ensure wide dissemination and engagement:

• Community Reports: Regularly publish detailed reports on our website and social media platforms, highlighting key metrics, success stories, and insights.
• Webinars and Workshops: Host virtual events to educate the Cardano community about Bakpak’s features, success stories, and best practices for leveraging the platfor
• Collaborations: Partner with other projects and organizations within the Cardano ecosystem to cross-promote and explore synergies.
• Open-Source Contributions: Share any relevant technical developments and innovations as open-source contributions, allowing the wider Cardano community to benefit and build upon our work.
• Feedback Loops: Establish channels for continuous feedback from users to refine and enhance the platform, ensuring it meets the evolving needs of the community.

By implementing these strategies, we aim to maximize the positive impact of Bakpak on the Cardano community, fostering a thriving ecosystem of creators and supporters empowered by blockchain technology.

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?

Transparent Project

We emphasize transparency in our project planning processes. The detailed project plan, including milestones, timelines, and responsibilities, will be made available for to open review. This ensures that our approach is clear, accountable, and aligned with the project's overarching objectives.

Proven Track Record

Our team members bring a wealth of experience in their respective fields. Their proven track record in blockchain, creator economies, event coordination, and project management instills confidence in our ability to successfully execute the proposed initiative.

Continuous Iteration and Adaptation

Feasibility is an ongoing evaluation process. We commit to a culture of continuous iteration and adaptation based on real-time feedback and changing circumstances. This agile approach ensures that our strategies remain responsive to evolving needs and challenges, enhancing the overall feasibility of the project.

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

Milestone 1: <u>Initialization</u>

Cost: 25,000 ADA

Length: 1 month

Milestone Output(s)

• Agile framework board set up in Notion with user stories and tasks
• Infrastructure setup completed.
• Key functionality initialized.
• Initial administrative and miscellaneous tasks addressed.

Acceptance Criteria

• Successful completion of the Research and Planning Document.
• Successful completion of infrastructure setup document
• Confirmation of initial administrative tasks and story boards

Evidence of Milestone Completion

• Link to the Notion agile framework board, showing all tasks and user stories.
• A link to a new GitHub repository containing the infrastructure setup document.

Milestone 2: <u>Development</u>

Cost: 25,000 ADA

Length: 3 months

Milestone Output(s):

• Development of key platform features, including front-end and back-end NFT creation and transaction modules.
• User interface and experience enhancements.

Acceptance Criteria:

• Successful deployment of the integrated features in a test environment.
• Documented user feedback on the usability of the platform.

Evidence of Milestone Completion:

• Links to the test environment and GitHub code repositories.
• A comprehensive report detailing integration, feature development, and UX improvements.

Milestone 3: <u>Launch</u>

Cost: 25,000 ADA

Length: 3 months

Milestone Output(s):

• Launch of the beta version of Bakpak to a select community audience.
• Implementation of community feedback mechanisms.
• Collection and incorporation of initial user feedback.

Acceptance Criteria:

• Positive community feedback and active user engagement.
• Implementation report detailing feedback integration.
• Beta test results showing functional stability and user satisfaction.

Evidence of Milestone Completion:

• Community feedback reports and analytics.
• A detailed log of updates and patches applied post-feedback.
• Report of user testimonials from beta testers.
• All evidence on GitHub

Final Milestone: <u>Finalization</u>

Cost: 25,000 ADA

Length: 2 months

Milestone Output(s)

• Produce a closeout report
• Produce a closeout video
• All final tasks and bug fixes are completed

Acceptance Criteria

• The closeout report and video will thoroughly document the results and outcomes of the project
• All final tasks and bugfixes are documented

Evidence of milestone completion

• A closeout video and report is on GitHub, including all final tasks and bugfixes

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

Ian McCullough (Cullah)

LinkedIn

Role: Full Stack Developer

Relevant Experience:

• Award-winning musician composed and licensed 10,000+ syncs of 16 years of open-source music in video games, films, tv shows, and advertisements.
• Senior level developer with a 10+ years of full-stack web development and scripting languages.
• MPhil in Music &amp; Media Technology from Trinity College, Dublin.
• BS in Computer Engineering from Marquette University.

Maggie Schmidt

Milwaukee, USA

LinkedIn

Role: Project Manager / Quality Assurance

Relevant Experience:

• 5 years of project management &amp; quality assurance with companies like Universal Audio, Audiophile, and Wisconsin Music Ventures
• 10 years of entertainment industry experience
• BA Music Performance from University of Wisconsin-Milwaukee
• Associate Degree, Audio Engineering from MATC

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Initialization

• Cost: 25,000 ADA
• Key Expenses:
• Project management tools
• Initial infrastructure setup (web hosting, servers)
• Miscellaneous initial costs

Milestone 2: Development

• Cost: 25,000 ADA
• Key Expenses:
• Protocol integration &amp; development
• Development tools and software licenses
• User interface design tools
• Quality assurance and testing

Milestone 3: Launch

• Cost: 25,000 ADA
• Key Expenses:
• Marketing and publicity efforts
• Community management
• Feedback and analytics tools
• Enhancements for beta testing infrastructure

Milestone 4: Finalization

• Cost: 25,000 ADA
• Key Expenses:
• Production of final report and closeout video
• Final marketing and promotional activities
• Wrap-up legal and administrative costs

This streamlined budget ensures transparency and effective use of the funds throughout the project’s lifecycle.

NMKR, CardanoPress

How does the cost of the project represent value for money for the Cardano ecosystem?

The project costs have been diligently considered, taking into account industry standards, market-driven rates, and the comprehensive skill sets required.

This ensures that every ADA spent contributes to the successful execution of the project, aligning with Cardano's vision for a decentralized and informed community.

The budget reflects not only the project's immediate needs but also its enduring impact on the Cardano ecosystem.