Please describe your proposed solution

Prototype Demo

<https://www.youtube.com/watch?v=XMGVAlHLraQ><https://flux-fantas-esports.vercel.app/>

How do you perceive the problem you are solving?

The existing fantasy sports platforms often suffer from issues related to transparency, security, and data privacy. This not only affects user trust but also limits the platforms' ability to engage with a broader, more security-conscious audience. The digital nature of the interactions and transactions on these platforms demand robust, transparent, and secure systems.

What are your reasons for approaching it in the way that you have?

To address these challenges, Flux Point Studios proposes to leverage the Cardano blockchain to create a decentralized fantasy esports platform. This platform will utilize smart contracts to automate and secure all transactions, from user registration and scorekeeping to payment processing and prize distributions. The integration of the Midnight partner-chain, upon its mainnet launch, will ensure that user data remains confidential while maintaining the transparency of transactions.

Who will your project engage?

Our platform will directly engage esports enthusiasts, gamers, fantasy sports participants, and blockchain technology adopters. By providing a transparent, secure, and privacy-respecting platform, we will not only attract users from traditional fantasy sports platforms but also those new to the concept, thereby expanding the overall market.

How will you demonstrate or prove your impact?

The impact of our platform will be demonstrated through several metrics: user adoption rates, transaction volumes on the platform, and user feedback on security and usability. Additionally, by conducting regular reporting and publishing the results, we will ensure continuous improvement and transparency.

Uniqueness and Benefits to Cardano

What sets our solution apart is the integration of blockchain for not just transactional integrity but also user privacy and data security—a first for fantasy sports platforms. This project will showcase Cardano's capabilities in handling complex, real-world applications that require not only the immutable recording of transactions but also privacy and user data protection (with the integration of the Midnight partner-chain). The success of this platform will position Cardano as a preferred blockchain for more similar secure and decentralized applications, potentially attracting more developers and projects to the ecosystem.

Why This Matters to Cardano

This project aligns with Cardano's mission to provide secure, scalable, and robust blockchain solutions. By pioneering such an innovative use case in the esports and fantasy sports industry, Cardano's technological strengths and its commitment to privacy and security will be highlighted, helping to increase its adoption across similar platforms globally.

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

In what way will the success of your project bring value to the Cardano Community?

The success of our decentralized Esports Fantasy Sports platform will showcase the Cardano blockchain's ability to handle complex and high-frequency transactions securely and transparently. This demonstration will not only validate Cardano's utility in the rapidly growing esports industry but also attract attention from other sectors looking for robust blockchain solutions. By integrating advanced technologies like smart contracts and privacy layers, we'll provide a model for other developers and entrepreneurs to build upon, thereby driving innovation and development within the Cardano ecosystem.

How will you measure this impact?

To measure the impact of our platform, we will track several key indicators:

1. User Adoption Rates: By monitoring the number of active users and participants on the platform, we can gauge its acceptance and usage within the gaming and blockchain communities.
2. Transaction Volumes: Recording the volume and frequency of transactions processed on the platform will help assess the operational load and efficiency of the Cardano blockchain in real-world applications.
3. Community Feedback: Regular surveys and feedback mechanisms will allow us to collect qualitative data on user satisfaction, security perceptions, and overall platform usability.

How will you share the outputs and opportunities that result from your project?

1. Community Reports: We will publish detailed quarterly reports on our platform's performance, including statistical analyses of usage and transaction volumes. These reports will be made available through our website and shared with the Cardano community via forums and social media.
2. Open-Source Contributions: As part of our commitment to the Cardano ecosystem, all blockchain and off-chain code developed for the platform will be open-sourced under the MIT license. This will allow other developers to use, modify, and enhance the code for their own projects, promoting further innovation on the Cardano blockchain.
3. Collaborative Events: We plan to host webinars and workshops that detail our development process, challenges faced, and how we leveraged Cardano’s technology. These events will be open to the public and aimed at educating and engaging with potential developers and entrepreneurs interested in Cardano.

Long-Term Benefits

The platform's success will highlight Cardano's capabilities in a new and dynamic industry, potentially leading to increased blockchain adoption across other sectors. By demonstrating Cardano's scalability and functionality, we contribute to its reputation as a leading blockchain for innovative applications, enhancing its attractiveness to investors and developers alike.

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?

Please describe your existing capabilities that demonstrate how and why you believe you’re best suited to deliver this project?

Flux Point Studios is uniquely positioned to deliver the Decentralized Esports Fantasy Sports Platform on Cardano due to our deep expertise in both the esports industry and blockchain technology. Our team is comprised of seasoned professionals including former professional gamers, blockchain developers, and design experts. Our Project Lead, Nathaniel Minton, brings a wealth of experience from both the gaming world and as a developer in blockchain projects, ensuring a thorough understanding of both the platform’s target market and the underlying technology. Additionally, Rahim Badsa, serves as the Lead Developer for this project, bringing a unique blend of passion, resilience, and technical proficiency. His technical skills span across front-end and back-end development, with extensive experience in JavaScript, SaturnNFT.io APIs, MeshJS, React.js, Next.js, Node.js, and more!

Our previous successful projects, including a dApp to handle multi-asset staking, minting, allocate Cardano Native Asset rewards for in-game progress, and other features for our game suite demonstrate our ability to manage complex concepts and technology integration.

Feasibility Validation

1. Pilot Testing: Before full deployment, we will conduct extensive Devnet testing of the platform to ensure all functionalities operate as intended. This includes testing of the smart contract elements, transaction processing, and user interface.
2. Feedback Loops: Incorporating continuous feedback from initial users and the Cardano Community to refine and optimize the platform.
3. Scalability Assessments: Regular load testing to validate the platform’s scalability and performance under increasing user numbers and transaction volumes.

Trust and Accountability in Fund Management

1. Transparent Budgeting: All funds received will be allocated according to a detailed budget plan. This budget plan includes earmarked amounts for each phase of the project, ensuring every Lovelace is spent judiciously.
2. Regular Reporting: We will provide monthly financial reports and progress updates to the Cardano Community. These reports will detail expenditures, progress towards milestones, and any adjustments to the project plan.
3. Escrow Management: With Project Catalyst, funds will be held, with releases tied to the achievement of predefined milestones. This ensures that funds are only spent on achieving project goals.

Ensuring Compliance

Adherence to Legal and Regulatory Standards: We will comply with all relevant legal and regulatory requirements, ensuring that our platform is geolocked for those regions that prohibit Fantasy Sports platforms and adheres to the necessary standards for data protection, user privacy, and transaction security.

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

Milestone 1: Milestone 1: Project Setup and Planning

A: Milestone Outputs

• Establish the project's framework.
• Finalize the project scope.
• Prepare initial design documents and technical specifications.

B: Acceptance Criteria

• Project framework documented and reviewed.
• Project scope clearly defined.
• Design documents and technical specifications completed and approved.

C: Evidence of Milestone Completion

• Signed off project framework documents.
• Finalized scope document.
• Completed design and technical specifications documents available in the project GitHub repository.

Milestone 2: Milestone 2: Frontend and Backend Development

A: Milestone Outputs

• Develop and integrate the user interfaces with backend services.
• Implement real-time data handling and user interaction features.

B: Acceptance Criteria

• Frontend and backend are seamlessly integrated.
• Real-time functionality is operational and meets user experience standards.

C: Evidence of Milestone Completion

• Demonstrable frontend application connected to the backend.
• Test logs showing real-time data processing and user interaction.

Milestone 3: Milestone 3: Smart Contracts Development

A: Milestone Outputs

• Develop smart contracts for user registration, payment processing, oracle score tracking, and payouts.
• Conduct internal code reviews and optimize for performance and security.

B: Acceptance Criteria

• Smart contracts are fully functional and meet predefined requirements.
• Code review completed with no critical issues remaining.

C: Evidence of Milestone Completion

• GitHub commits of fully functional smart contract code.
• Code review reports.
• Performance test results.

Milestone 4: Milestone 4: Preprod Testing and Deployment

A: Milestone Outputs

• Conduct comprehensive testing and user acceptance testing.
• Deploy the platform to the Cardano Preprod environment.

B: Acceptance Criteria

• All major bugs resolved, and the platform passes all checks.
• Successful deployment to Cardano Preprod network with no critical deployment issues.

C: Evidence of Milestone Completion

• Testing reports and resolved issues documentation uploaded to project GitHub repository.
• Deployment logs and user acceptance test feedback.

Milestone 5: Milestone 5: Launch and Community Building

A: Milestone Outputs

• Officially launch the platform to the public.
• Execute the marketing and community engagement plan.

B: Acceptance Criteria

• Platform is live and accessible to users.
• Key marketing and community engagement activities are completed, and initial user feedback is positive.

C: Evidence of Milestone Completion

• Public URL of the live platform.
• Marketing material distribution records and analytics of engagement metrics.

Final Milestone: Final Milestone: Project Review and Reporting

A: Milestone Outputs

• Conduct a thorough project review to assess all phases and outcomes.
• Prepare and distribute a comprehensive final project report detailing achievements, challenges, and lessons learned.

B: Acceptance Criteria

• Project review is comprehensive and highlights key successes and areas for improvement.
• Final report is well-received and provides valuable insights for future projects.

C: Evidence of Milestone Completion

• Published project review document.
• Final project report available to the Cardano community.

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

Nathaniel (decimalist) Minton - Project Lead, guiding the overall strategic direction of the project, ensuring alignment with the Cardano ecosystem's goals and the broader blockchain community's expectations. He will manage all aspects of the project lifecycle, from initial planning through to deployment and community engagement, ensuring milestones are met on time and within budget.

Rahim Badsa - Lead Developer, Rahim will be responsible for the technical development of the platform, focusing on the implementation of smart contracts, backend development, and ensuring the integration of front-end components with blockchain functionalities.

Please provide a cost breakdown of the proposed work and resources

Smart Contracts Development: 91,783₳

• Resource Allocation:
• Development of smart contracts for user management, platform operations, payment processing, score tracking, and prize pool payouts.
• Cost Justification:
• Ensures automation, accuracy, transparency, and security critical for user trust and platform integrity.

UI/UX Development: 25,137₳

• Resource Allocation:
• Design and development of a user-friendly and engaging interface.
• Prototype testing and iterative design improvements based on user feedback.
• Software Licenses:
• Figma for UI/UX design and prototyping.
• Cost Justification:
• Critical for ensuring a positive user experience and facilitating simple seamless user interaction with complex blockchain functionalities.

Backend Infrastructure: 63,599₳

• Resource Allocation:
• Server/storage costs, API integrations, and back-end programming.
• Implementation of decentralized storage and compute solutions.
• Third-Party Services:
• Decentralized storage solutions like Iagon for storing large datasets such as player statistics and game records securely and redundantly.
• Decentralized on-chain oracle solution like Orcfax for secure and transparent payout mechanisms based on contest outcomes.
• Cost Justification:
• Supports the robust, scalable backend required for handling high transaction volumes and real-time data processing, while remaining secure and decentralized.

Testing and Security Evaluation: 34,610₳

• Resource Allocation:
• Preprod testing including load testing and security vulnerability assessments.
• User acceptance testing to refine functionalities before launch.
• Third-Party Services:
• Engagement of external security experts for an in-depth audit of the entire platform.
• Cost Justification:
• Ensures the platform is secure and operable under real-world conditions, crucial for maintaining credibility and user trust.

Marketing and Community Engagement: 39,190₳

• Resource Allocation:
• Marketing campaigns, community events, social media management, and promotional materials.
• Community management tools to engage with users and gather feedback.
• Third-Party Services:
• Digital marketing agencies for targeted ad campaigns and analytics services.
• Cost Justification:
• Drives user adoption and engagement, critical for the platform’s success and growth within the Cardano community.

Total Budget: 289,319₳

Additional Budget Considerations Absorbed by Flux Point Studios

• Legal and Compliance
• Fees for legal advice to ensure compliance with all relevant regulations and intellectual property laws.
• Project Management and Administration
• Tools and staff costs associated with managing the project timeline, deliverables, and team coordination.

Midnight (partner-chain): Only Devnet available at the moment. This dependency is crucial as Midnight provides enhanced data privacy and security, aligning with our goal to ensure user trust and regulatory compliance in handling sensitive information on the blockchain.

Iagon: Decentralized storage and compute provider for Cardano.

Orcfax: On-chain oracle solution for Cardano.

NMKR: NFT Minting solution on Cardano.

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

Overall Cost Justification and Value for Money

• Development Costs: The budget for smart contract development, backend infrastructure, and UI/UX design reflects competitive rates for skilled blockchain developers and designers. The average annual salary for blockchain developers in the U.S. ranges from $150,000 to $175,000, with freelance rates varying from $100 to $150 per hour. As of late January 2024, the average UX design salary in the U.S. is $94,747, according to Glassdoor. The allocated budget ensures that we attempt to fairly compensate our top-tier talent for developing a cutting-edge platform on Cardano.

• Security and Testing: Given the critical importance of security in blockchain applications, the budget for security audits and testing is aligned with the average costs of comprehensive audits, which typically range from $5,000 to $20,000 per audit, and sometimes much more, depending on the complexity of the smart contracts.

• Marketing Budget: The allocated budget for marketing and community engagement is based on standard digital marketing costs, where typical campaigns for tech startups can range from $20,000 to $50,000 for initial outreach efforts. Most relevant in our industry–social media marketing campaigns regularly cost between $4000 - $7000 per month. This investment ensures significant visibility and user adoption, which is essential for the platform’s success and long-term sustainability.

• Legal Fees (absorbed by Flux Point): Legal advice and compliance checks are crucial for ensuring that the platform adheres to regulatory requirements, particularly in the dynamic and often uncertain regulatory landscape of blockchain and cryptocurrency. The allocated budget is in line with average legal consultation fees in the blockchain space, which are necessary to mitigate risks and ensure smooth operation.

• Technical Project Management (absorbed by Flux Point): The budget for project management ensures that the project adheres to timelines, budgets, and scope, reflecting best practices in project management which emphasize regular monitoring and agile response to challenges.

Overall Value for the Cardano Ecosystem

The project introduces a novel use case for the Cardano blockchain in the esports and online gaming industry, potentially driving wider adoption and acceptance of Cardano as a preferred platform for developing decentralized applications.

By successfully implementing and scaling a decentralized fantasy sports platform on Cardano, the project will serve as a benchmark for innovation, demonstrating the capabilities of Cardano’s technology in handling complex, real-time transactions and interactions securely and efficiently, while utilizing unique data privacy aspects of the Midnight partner-chain.

The platform will attract new users and developers to the Cardano ecosystem, contributing to community growth. Engagement through the platform may lead to increased transaction volumes and greater utilization of ADA, thereby enhancing the overall value and stability of the Cardano network.

Making the project’s blockchain and off-chain code available under an open-source license will encourage further development and innovation within the Cardano community, contributing to a robust and dynamic ecosystem.