Please describe your proposed solution.
NFT artists have to rely on third-party NFT marketplaces to sell their NFTs. This approach has several benefits because they can use a service that has proven to work. Still, it lacks personalization and restricts the artist from having their brand and providing a customized buying experience.
The other option for an artist is to hire a minimum team with a web designer and a web developer and pay for the hosting services. This approach can provide the best user experience. Still, it usually incurs extra costs, delays and failures during launch due to the popularity of the collection and an improper assessment of the needed infrastructure.
In the artistic world, experience, authenticity and craftsmanship are the paramount goals; that's why we want to provide the artist with everything they need to launch a successful NFT collection with a personalized experience for their buyers. And that's NFT Store builder, a platform for creators who want to expose their art in a truly unique way while keeping it simple by dragging and dropping components and customizing templates. Our aim is to lower the entry bar for everyone in the NFT space with this platform. Artists will be able to create and customize their store from the ground up in a matter of minutes, without any upfront cost and coding knowledge required.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
Our solution addresses the challenges above. Artists want to create their personalized storefront to sell NFTs without relying on developers; they want to employ time in their art and community.
By integrating the storefront builder into NFT Studio, the NFT project creators would have the right tool to fast-track their collection launch. More NFTs creation & transactions will happen on the Cardano blockchain, which will help boost the chain's usage and adoption among NFT creators.
To measure the success of our project, we estimate the growth of our NFT studio community along with the platform's growth. This growth is reflected in key metrics such as the number of collections created, the number of storefronts published and the number of NFTs sold. We will regularly communicate the project's progress through our social channels and community groups.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
To guarantee success for this project, we anticipated several risks and challenges which we’ll be going through below:
Risks and challenges:
- The current market leader in the Cardano NFT landscape is NFT Maker-pro and they can develop something similar. Big players joining the Cardano NFT space like NFTically and NiftyKit.
Risk mitigation:
- We will constantly release new features that make our platform the most compelling choice for users. Launch marketing campaigns and partner with artists.
- Focus on improving our platform's core strengths, intuitive UI/UX, customizable features and direct customer support. We will create easy-to-digest video tutorials, specially created for people with no coding background.