Please describe your proposed solution.
Our proposed solution involves developing a comprehensive NPM library for NFT and token analytics in the Cardano ecosystem. We believe the unique value proposition is for individuals to have access to this information readily available in their preferred Cardano wallet without having to navigate outside to a 2nd or 3rd party application. This library will enable developers to extract, process, and present real-time data about NFTs and tokens from multiple sources including the blockchain itself, marketplaces, and decentralized exchanges. Furthermore, we plan to establish a robust backend server infrastructure to support data queries. This infrastructure will be freely accessible for those who prefer not to maintain their own. The aim of this initiative is to make essential market information easily accessible to all users, thereby fostering informed decision-making and boosting the value and utility of NFTs within the Cardano ecosystem.
To be more more specific, The libray will enable information as requested by the community including: NFT and token price charting, aggregation of data across multiple marketplaces, floor prices, wallet holders, number of NFTs, rarity, recent sales, trait value, utility description, trading insights. This is not an exhaustive list but examples of information that will be provided within libraries.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Our proposed solution directly addresses the challenge by offering a robust and versatile toolset for NFT and token analytics in the Cardano ecosystem. The libraries we aim to develop will fill the existing gap, enabling projects to easily fetch, analyze, and present essential market data to their users. This unprecedented access to real-time information will empower users to make informed decisions, thereby enhancing the overall engagement and activity within the ecosystem.
The benefits to the Cardano ecosystem are multifold. First, it will enhance the transparency of NFTs and tokens by providing essential information such as price, transaction history, and holders. Second, it will lower the barrier to entry for new and existing projects, as they won't need to build analytics tools from scratch.
Third, having analytics provided directly in the individuals preferred Cardano wallet provides a superior and efficient user experience. Individuals will not need to navigate outside of the wallet to digest information related to their assets.
Lastly, it will foster an informed and active community, a crucial factor for the long-term growth and sustainability of the Cardano ecosystem.
How do you intend to measure the success of your project?
The success of our project will be measured by the following KPIs:
- The successful development and launch of our libraries and backend server infrastructure, which will be validated by the completion of all milestones and tasks in our roadmap.
- The number of Cardano projects utilizing our analytics tools, a high adoption rate will indicate the effectiveness and usefulness of our solution.
- The number of users utilizing the analytics tools, a higher usage rate will indicate success of the analytics proposal.
- Level of Satisfaction, feedback from the Cardano community and developers. We aim to achieve high satisfaction rates, which will reflect the value our solution adds to the ecosystem.
Please describe your plans to share the outputs and results of your project?
We will be using a combination of methods to ensure that the outputs and results of our project reach as many stakeholders as possible.
Open Source Code: As a fully open-source project, our code will be available on GitHub, making it accessible to developers across the globe.
Documentation and Tutorials: We will create comprehensive guides and tutorials explaining how to use our tools and navigate the libraries and backend infrastructure. E.g. Medium, YouTube.
Active Communication: Regular project updates will be posted on our website and shared across our social media platforms. We also plan to engage with the community on platforms like Twitter, Telegram, Discord, Medium, YouTube.
Live Demonstrations/Webinars: To provide hands-on experience and direct interaction, we will host live demonstrations or webinars showing the use and integration of our tools.