A lot of people know that NFTs can provide real world utility beyond art and gaming, but struggle to implement solutions because of transaction fees and the need to wait for blocks on-chain.
NFTPass is a simple solution that authenticates NFTs without the need for transactions enabling a better user experience for individuals and enterprises.
Out Patent Pending solution solves the issues other businesses and startups have with implementing a solution like this.
<u>How Does NFTPass Work?</u>
The finished product will have 2 mobile apps, one for the enterprise and one for the user.
The user will have a simple lite wallet that can hold NFTs (this will be the same app for all uses), with access to the private keys so the wallet can be restored in another full function wallet (this will enable people to access / backup their wallet and keep the NFTs)
The enterprise will have an application that initiates the verification process for users to prove their NFTs and allow access.
<u>Scope Of Works:</u>
The main part of development work will be creating the apps and UI, which will essentially look like Apple's Wallet application for the user, the lite wallet itself will just need and address for receiving NFTs and potentially sending (although we will not build this function into the Alpha)
As I have already wireframed the apps, we are seeking the initial funding from Catalyst to build the Alpha version of the Apps with the server back end for minting NFTs for businesses, as well as an enterprise level media kit to approach businesses so we can onboard companies and begin small scale testing in the real world.
The finished product will include a mint for businesses to create NFTs as well as a standardised metadata structure to enable simple design and creation of NFTs to conform with the applications.
<u>Targeted Industries:</u>
Music Events - Gigs / Festivals
Sports Events
Film / Cinema
Travel
This could also be something that could be implemented in other industries where access needs to be managed - e.g. banks, gyms, building sites and more
<u>Marketing The Solution:</u>
We will market our solution through lead generation at business events, promotional material and setting up workshops for DID & NFT Education at business hubs in London.
We will approach businesses through local industry connections and create exposure through marketing at events and online
<u>How The Proposal Will Encourage Adoption</u>
This proposal will enable real world utility of NFTs on the Cardano Blockchain, taking crypto into the mainstream by putting NFT wallets into the hands of the general public; and crypto into enterprises with simple infrastructure that can replace current system to create immutability and prevent fraud.
We are building a B2B business that provides a solution with the potential to have a huge impact on B2C relationships and how customers experience events, with widescale adoption on the horizon for Blockchain and more specifically Cardano.
The main challenge will be pitching businesses to trial the project, however we have a few connections in the industry that are able to get us in the door and once we have the product built fully we can demo its use very easily.