Define Metadata Standards for NFTs on Cardano

NFT use cases have varied metadata needs and schemas

Defining universally acceptable standards is no small task

We will engage industry experts to identify and define standards

We will engage with industry consortiums

We intent to document NFT metadata standards

We will make an easy-to-use user interface for adding the metadata to NFTs

PLAN AND BUDGET

Phase 1 - Research all the metadata standards and models across the existing marketplaces (In process already within NFT-DAO working groups)

Phase 2 - Create a draft RFC (request for comment) document for review by larger community

(Join and participate in consortiums and working group in industry and with IOG engineering)

Phase 3 - Formalize all the best practices collected

(Test it in the real world with actual users and Publish the final work)

Phase 4 - Finalize the Documentation into a simple user interface wireframe

(We will create the wireframes, the UI development will need to be done in Fund 5)
Total: $28,648

DETAILED PLANS AND PROGRESS TO DATE

We have already started working on this within the NFT-DAO:

Problem: We see tens or potentially hundreds of projects all rushing to create their own NFTs with varying metadata for their own needs depending on the use case trying to be the first to market. We don't see this is scalable as eventually there might be different metadata schemas for the same type of art piece or real estate property for example.

• Much like IOG, NFT-DAO will talk with experts from their industry to help create NFT standards that can best follow existing standards in each market

• After creating the NFT standard per industry, say art for example, it will be released in a RFC to the greater community and then eventually voted on using NFT-DAO (community, experts, governance token?) while prototyping in NFT-DAO's BOXCAR.

SCHEDULE AND FUNDING

We have a comprehensive plan and schedule you can visit outside of IdeaScale. Currently IdeaScale isn't flexible for managing a living document. Please go to this link for the complete plan and deliverables: http://bit.ly/samemeta

PARTNERING FOR SUCCESS WITH EXPERTS

We will partner our strong developers with the experts at the IOG Professional Services and MuNk.io engineers for the fastest paths to success.

TEAM NFT-DAO

• Michael Yagi, a senior software engineer with experience facilitating integration between different technologies across many different facets in a smooth, seamless fashion. He has a background in leading the development for projects that need to ship projects with many unknowns in a timely manner. His interest lie in building the bridge between the ocean and the pond (Cardano and "traditional" software engineering) as well as leveraging his game development background for NFT's in the game industry.

• Finley McIlwaine, a PhD candidate (UW) in computer science; a developer working in the University of Wyoming Advanced Blockchain Lab—a R&D lab focused on Formal Verification, Smart Contracts, and Secure Hardware related to Real-world Blockchain Applications funded by IOHK. Finley is very familiar with the Cardano ecosystem; and the winner of the IOHK Marlowe Challenge at WyoHackathon 2020 and Plutus Extension Challenge at WyoHackathon 2019.

• Dmitri Safine, a senior solutions architect with experience in cloud architecture, data engineering, R&D and prototyping in big data and analytics space. He has built numerous data lakes, ETL pipelines, multidimensional cubes and data analysis applications and passionate about identifying emerging technologies and composing them into a cohesive scalable solution which solves a particular problem. He is interested in researching NFT metadata implementation as a distributed RDF knowledge graph, with schemas engineered for a particular NFT domain that could potentially be expanded for solutions like powering AI agents of the future SingularityNet integration.

• 119 Community Members n+1, are passionate about NFTs and has aligned themselves to a previous proposal seeking funding for a NFT point solution. They are eager to propose new use cases and work on a universal standard. Since none has existed for Cardano, they were planning to build one for themselves from scratch. They are one of ~120 individuals who could potentially pool their expertise into an all-embracing open-source version to benefit the entire community rather than one project. Their expertise is multivariate in development, SPO, marketing, design, business, and more.