Please describe your proposed solution.
<u>PROBLEMS</u>
Recently, Japanese companies, which are considered to be a large potential market, have been trying to enter the NFT market, but there are few communities or media outside of English where people can learn about how to participate in NFT and the benefits of Cardano Blockchain.
In addition, the Wada community and other African communities, which are Cardano's key focus areas, are also sending out information on various games and collective projects, but it is difficult for people in countries where it is difficult to understand English to catch up on this information.
<u>OUR SOLUTION</u>
Therefore, in cooperation with Cardano and artist communities in Japan, China (Chinese Speaking Community), Vietnam, Korea, and Africa, we are building the largest guide for beginners to Cardano NFT in East Asia, information on CNFT in Africa and the Western, and a community for those who want to collaborate internationally through CNFT.
And by onboarding members of the Western CNFT community, we will create a mechanism to quickly catch up on CNFT-related information in English, currently mainly from Europe and the US. We will also create a place where Western and East Asian creators, who are currently the main focus of CNFT projects, can collaborate on projects together.
We will primarily use the Discord server of Soudan NFT, the largest creators' community in Japan, to update information in the local language to the non-English speaking community interested in CNFTS. We will also support non-English speaking creators and companies by utilizing the relationships that the "CNFT is Community" has with communities in Europe and the United States so that they can more easily participate in the world of CNFTS.
In addition to the Soudan NFT discord, we will also create a Twitter Space twice a month to promote the community and Cardano to those who are not yet involved in the CNFT or Soudan NFT community.
We will also be developing the future of Soudan NFT's generative collection "Love Addicted Girls" (a collection of Ethereum with over $200 million in sales and over 20,000 followers) on Cardano's NFT. Issuing Vtuber-related NFTs and metaverse characters for the exchange of holders, etc.
<u>Community Activity Detail</u>
●Making Discord Channel of 3Language chat about CNFTs
We'll run the discord channel for the non-English people; at first, we start it for Japanese, Chinese, and Vietnamese in the Soudan NFT discord Channel.
We will run it with three moderators(Japanese, Chinese, and Vietnamese natives) and it will be started in October.
This channel will also contain noteworthy information about CNFT and Cardano gathered by our English-speaking staff and translated into various languages.
And also in this channel modulators support ask for any questions from investors, creators, and companies who are interested in CNFTs, and also moderators connect the right people when they need more support for their activity.
●Making Videos(Japanese, Chinese, Vietnamese)
To spread the CNFTs and Cardano, we educate community members using Videos.
It makes it easier for newcomers to enter the CNFT ecosystem.
- What is Cardano and CNFT (Octorber)
- How to buy ADA and make the Wallet for Cardano Native taken (October)
- How to mint CNFTs (November)
- How to list CNFTs on the Market Place (November)
- How to make the Generative project of CNFTs (December)
- How to promote your CNFT collections(December)
●Holding Twitter Space(Twice a month)
To exchange the information between the Eastern and the Western in CNFT Ecosystem, we'll hold the Twitter space twice a month probiding translators.
For the non-English artists, it is difficult to spread their artworks to the Western people, but now the percentage of the CNFT community is huge in the West.
We will provide the chance for advertising to the non-English artists and also provide the important Western information in the Twitter space.
●Making Documents
To spread the CNFTs and Cardano, we educate community members using also documents.
It makes it easier for newcomers to enter the CNFT ecosystem.
- What is Cardano and CNFT (Octorber)
- How to buy ADA and make the Wallet for Cardano Native taken (October)
- How to mint CNFTs (November)
- How to list CNFTs on the Market Place (November)
- How to make the Generative project of CNFTs (December)
- How to buy CNFTs (December)
- Documents for the important information are updated (Once a week)
●Making Twitter Account
To help the non-English people to catch up on the Daily CNFT information quickly, we'll make the Twitter Account.
English Speaking Staff will pick it up and the translation staff translates it and tweet it.
We'll also tweet the non-English CNFT Artist information.
<u>Data about English and NFTs / Japan, China(Chinese Speaking Community), Vietnam</u>
● English and NFTs in Japan
Japan's world ranking for English proficiency was 78th out of 112 countries. The level rating is the fourth "low" of the five levels.*1
According to the 2020 census, Japan's population is about 126 million, of which only about 2% (about 2.56 million) are foreigners.
Japan is a large market, and all goods, books, and TV programs in stores are available in Japanese. Therefore, the number of people who can understand English is very low because it is difficult to feel inconvenienced even if they cannot speak English.
In the Cardano community, the percentage of Japanese who have ADA is very high. However, the percentage of Japanese in general who has NFT is very low at 2.9%*2. Even though 10% of the population invests in cryptocurrency.
This can be said to be because the language barrier, which is the most necessary factor for NFT investment, is a very large one.
●English and NFTs in China(Chinese Speaking Community)
China's world ranking for English proficiency was 79th out of 112 countries.*1 The Level rating is the third"Medium" of the five levels.
And the other country which the majority of the Chinese Speaking country is Taiwan, Singapore, and Malaysia.
Taiwan's world ranking for English proficiency was 48th out of 88 countries.*2 The level rating is the fourth "low" of the five levels.
Singapore is well used in English but almost all people speak Chinese as the main language.
Malaysia's world ranking for English proficiency was 28th out of 88 countries.*2 The level rating is the second "high" of the five levels. But,1-third of the people speak Chinese as the main language.
In China itself the NFT trade is not allowed Although trading for speculative purposes in NFTs is not permitted in China itself in principle, many NFT investments are made in countries such as Singapore, Taiwan, and Malaysia.
The combined population of Chinese-speaking people is around a 60million. (Malaysia32million、Taiwan23million, Singapore5.6million)
Emerging Southeast Asian countries lead the world in NFT ownership. Of the 20 countries compared, in Malaysia 24% of the people have NFTs. *3
So Creating a community that caters to the people in the Chinese-speaking community would be very helpful in spreading the CNFT.
●English and NFTs in Vietnum
Vietnamese English proficiency index ranks 66th out of 112 countries and is among the "low" rating ranks.*1
According to Finder, the use of cryptocurrencies in Vietnam (among respondents) is 41%, of which 20% have purchased Bitcoin, and 17% of people own NFTs.*3
*1 World's Largest English Proficiency Index Rankings in 2021
<https://resemom.jp/article/2021/11/17/64388.html>
*2 World's Largest English Proficiency Index Rankings in 2018
<https://www.efjapan.co.jp/epi/>
*3 KDDI research
<https://mugenlabo-magazine.kddi.com/list/singapore-nft/?amp>
*4Vietnam is now a leading country with respect to the use of cryptocurrencies, according to an August release from Finder.com, a financial products comparison website
<https://vietnamnet.vn/en/vietnam-in-global-top-10-for-cryptocurrency-ownership-rate-814640.html>
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Please describe how your proposed solution will address the Challenge that you have submitted it in.
Through connecting communities, Cardano and CNFT will be widely promoted to Asian markets (including Japan, China: Taiwan, Singapore, and Vietnam), countries with a high percentage of people hight interested in blockchain but still don't know Cardano extensively.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
Risk 1:
Human resources to disseminate information in English as a national language
A great deal of translation work is required to deliver the vast amount of CNFT information to non-English speaking countries.
<u>Risk mitigation</u>
This requires a lot of human resources, which in turn requires personnel costs for staff.
When an automatic translation tool is developed in the future, we will use it to reduce labor costs.
Risk 2:
Gathering of cooperative staff
We need staff to make videos to teach how to make CNFT and use cases, staff to follow up on Discord, and staff to open Twitter Space, etc.
<u>Risk mitigation</u>
We will allocate personnel expenses to reduce the burden on staff with many hours of work.
Risk 3:
Information gathering and dissemination of information from overseas communities
<u>Risk mitigation</u>
Currently, the core of the CNFT community is made up of community members mainly from Europe and the US. Therefore, we will recruit European and US CNFT members for our project itself.
Through them, we will create a space for collaboration between Western CNFT projects and East Asian CNFT projects.
In addition, we will also ask Western members to help us spread the word about the CNFT projects that have emerged from East Asia.