[Grant Proposal] Crowd-investing & management protocol (Crowd protocol) (v3)

Proposals Grant Proposals
#1

TLDR
We propose to fund the development of the NFT Crowd-Investing & management protocol (Crowd), which includes management (DAO) mechanics that allow users to manage NFTs in which they have stakes.

Management (DAO) mechanics:

  • sale of NFT
  • NFT lending
  • decision on participation of NFT in the art exhibition
  • the decision on the distribution of the NFT income
  • decision on choosing a manager to manage the NFT
  • other mechanics that will appear after hypothesis testing

Since NFT can represent almost any asset (artwork, digital asset, real estate, car, private business, …) it is essential to have a tool that allows to own a fraction of a NFT and properly manage underlying asset. Crowd protocol is such a tool!

Rarible will get 5% of tokens of Crowd protocol’s initial token offering.

We have already developed a working prototype during June Definition Hackathon and took a prize in the Rarible track. And for the last month we have been actively developing the protocol.

problems vs opportunities
problems vs opportunities1218×568 48.1 KB

The Implementation

0xCrowd Roadmap - Frame 3 (2)
0xCrowd Roadmap - Frame 3 (2)2221×1800 198 KB

1 . Investors lock their funds in the Crowd on-chain investment pools.
2. Crowd protocol buys an NFT on Rarible
3.1. Crowd smart-contract issues ERC-20 tokens (fractionalization) that represent the ownership of the underlying NFT
3.2. Crowd smart-contract creates multisig wallet in Gnosis Safe with DAO mechanics
4. Protocol distributes the tokens to investors in proportions of their investments in the pool
5. Investors manage their NFT using DAO mechanics (most likely using SafeSnap DAO)
6. Fractionalization commissions are distributed between Crowd token holders (including Rarible)

Funding Milestones and Payments
Milestone 1: 27sep → 24oct
Development of Crowd platform (backend + simple frontend). It includes fractionalization, crowd-investing and basic DAO mechanics.

Users will be able to:

  • fractionalize their own NFTs
  • start fundraising for NFT buyout

DAO mechanics:

  • make a decision to sell NFT and receive a pro-rata payout

$8,000 upfront, $2,000 upon completion of the Milestone 1;

Milestone 2: 25oct → 19dec
Further development of Crowd platform + UI/UX.

$15,000 upfront, $5,000 upon completion of the Milestone 2;

Milestone 3: 20dec(2021) → 13feb(2022)
Marketing of Crowd platform. New DAO mechanics. Hypothesis testing.

DAO mechanics:

  • NFT lending
  • the decision on the distribution of the NFT income
  • other mechanics that will appear afer hypothesis testing

$15,000 upfront, $5,000 upon completion of the Milestone 3;

Dates may be subject to change, but the team will do its utmost to meet the deadlines.

Payments will be made to the following Ethereum address:
0x52B23D26058c166b363aa96B1C3C7FC4DCD7AaF0

Use of Funds
The funds will be used to cover the payments to the team members and the expenses for tools, services and marketing that the team would need during the implementation. We will provide a detailed report on the use of funds upon request.

Team Members

We have built a team that worked on Crowd protocol during the Definition Hackathon in Rarible track and keep working on the:

In addition to the presented members, we are also planning on hiring a designer and another back-end developer for some parts of work.

Accountability

Why should Rarible DAO fund this?

Using the Crowd protocol will allow:

  1. to solve all the problems listed above;
  2. to increase Rarible audience among investors and artists;
  3. to earn profit for Rarible DAO;
  4. to increase the value of the RARI token.
1 Like
#2

Thanks for supporting the proposal on Snapshot! This weekend we won Definition hackathon with the prototype of the protocol, so we’re looking forward to bring solid and the best possible implementation at the end of the first Milestone!