Please describe your proposed solution

Problem Perception:

The music industry, especially at the local level, struggles with funding and visibility. Artists and creators often rely on platforms that take significant cuts and do not provide a direct connection to their community. This not only stifles the economic potential of local musicians but also limits the community’s ability to directly support and profit from local talent.

Approach:

Baskit addresses these challenges by establishing a platform that facilitates direct investment in a collection of musicians. By pooling intellectual property in the form of NFTs, Baskit enables creators to offer their projects directly to their local and extended communities, bypassing traditional funding hurdles and intermediary financial drains. This model not only provides a new revenue stream for artists but also cultivates a vested interest in the success of local talent, promoting a thriving, self-sustaining creative economy.

Engagement:

The platform targets local musicians and creators seeking funding for their projects, as well as local investors and music enthusiasts interested in supporting and profiting from their local music scene. By engaging these groups, Baskit fosters a sustainable ecosystem of creation and investment, deeply rooted in the community.

Impact Demonstration:

Success will be measured by the number of projects, the volume of community investments, and the direct financial returns to both creators and investors. Feedback from users and growth in the user base will also be crucial metrics. We will conduct surveys and track engagement statistics to gauge the impact and effectiveness of the platform.

Relevance to Cardano:

This project aligns with Cardano’s mission of promoting decentralization and democratization. By leveraging Cardano’s blockchain for secure and transparent transactions, Baskit embodies the principles of openness and community-driven growth, crucial for fostering innovation and inclusivity in the creative sectors.

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

Value to the Cardano Community:

Baskit's integration into the Cardano ecosystem will demonstrate the practical application of blockchain technology in the creative industries, specifically in music. By using Cardano's blockchain for transactions, Baskit promotes the platform's capabilities in handling secure, transparent, and decentralized exchanges, showcasing Cardano’s potential beyond conventional financial applications. This not only reinforces the adaptability and utility of the Cardano blockchain but also attracts a new demographic of users—artists, musicians, and cultural investors—thereby expanding the community and its engagement.

Impact Measurement:

The impact of Baskit on the Cardano community will be measured through several key indicators:

• User Adoption: Growth in the number of users (both creators and investors) on the platform.
• Transaction Volume: The amount of ADA transacted through the platform, reflecting economic activity.
• Community Engagement: Increased participation in forums, discussions, and feedback mechanisms related to Baskit on Cardano platforms.

Quantitative data will be gathered through analytics tools integrated into the Baskit platform, while qualitative impact will be assessed via user surveys and community feedback.

Sharing Outputs and Opportunities:

• Community Reports: Regularly published reports on Baskit's website and distributed through Cardano community channels (forums, social media, newsletters) detailing progress, impact, and financial transparency.
• Educational and Training Materials: Developing and sharing resources that educate about blockchain technology's potential in creative industries, thereby encouraging more blockchain applications in diverse fields.
• Partnership Opportunities: Collaborating with other Cardano-based projects and platforms to explore integrations and co-promotion, enhancing network effects and mutual growth.

Through these measures, Baskit aims not only to contribute to the cultural and economic enrichment of the Cardano community but also to exemplify the transformative potential of blockchain in creative economies.

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):

• Integration of Baskit with MAYZ protocol (or a similar protocol) for fund management.
• Development of key platform features, including 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 Baskit 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 administrative costs

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

NMKR

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.