Section 1 - DAO/Project Information
Organization Name: Nearverse Labs
Proposal Title: Socialzier (E2E Platform for NEAR Social)
When was your DAO / Project established? March, 2022
DAO’s Category (Ecosystem/Gaming/NFT/Regional Development/Marketing)
Project’s Category (Community Led, Gaming/NFT/Defi, etc): SocialFi (Social Finance)
Section 2. Previous Funding
Have you received funding for this project from any source? : No
Section 3. DAO URLs
Social Media Distribution Channels:
Discord: https://discord.gg/WQG7hjNqv7
Twitter: https://twitter.com/Nearverselabs
Is Your DAO/Project Targeting a Specific Country? No
Section 4. Applicant Information
Name of Point of Contact: Tej (aka Punter)
Link to Governance Forum: Profile - Punter.near - NEAR Forum
near.social Profile: https://near.social/mob.near/widget/ProfilePage?accountId=nearversedao.near
NEAR Wallet ID: nearversedao.near
Wallet ID that will be receiving funds: nearversedao.near
Country of Residence: India
Twitter: https://twitter.com/Punter_07
Telegram: Telegram: Contact @punter_nearverselabs
LinkedIn: https://www.linkedin.com/in/tej-mirthinti-b2bb575a/
Section 5. Team Members and Section 6. Team Member Experiences
Tej (aka Punter): Product Manager (Linkedin: Tej)
With 8 years of experience in the Automation of Banking, Insurance, and Healthcare backend operations, I lead Nearvese Labs (RocketBois NFTs). Our team has developed multiple innovations for Near since March 2022. Responsible for delivering multiple products in the Near NFT ecosystem that served 5000+ unique wallets, and 30+ NFT & DeFi projects. Below are a few of them:
Devendra: A smart contract developer with 1.5 years of experience in building projects on Near and Cosmos Blockchain. He has worked on a p2p Agent based order book [Cosmos], Custom NFT (https://qstn.us/) and backend for a Survey marketplace (https://qstnus.com/), and an on-chain index platform using Ref exchange. He has working with Nearverse Labs for the last 6 months, contributing to research and development on Near and ICP blockchain.
Github: https://github.com/Devendra116
Saswath: Worked as Full Stack Engineer for We2 businesses for 3 years. As a Blockchain Developer, he possesses expertise in a range of technologies including React.js, Node.js, MongoDB, Express.js, Solidity, and Rust. He’s been actively building BOS components for the past 5 months.
Github: https://github.com/Eren-Yeaager
Section 6. Experience
Nearverse Labs has been contributing to NEAR, building NFT infrastructure starting in March, 2022. Functioning with limited resources, here’s some of the DApps that we built so far:
Vulcan Allowlist Management: For projects & NFT Traders
https://www.vulcanapp.io/manager
Unison Collaboration Automation: Allowlist Collab automation for NFT & DeFi Projects. (built with the aid of Near Foundation Builder Grant)
https://unison.nearverselabs.com/
Humans of Near: Social Directory of Near Users. Built for NFT WG.
https://near.org/humans-of-near.near/widget/humans.nearverselabs.com
On-chain NFT & Allowlist Raffles
https://raffles.nearverselabs.com/
List Web3 Projects You Have Completed
Other Blockchains: We have our presence outside of Near as well. We have been actively building on ICP Blockchain and Cardano. We were awarded a developer grant by DFinity Foundation (ICP) for building a SocialFi DApp. On Cardano, we have been working on gamification of NFT-infra for the last 6 months.
Section 7:
7.1 Project Overview: Presentation with a short High-Level 6 bullet points summary:
- Mission:
- Empower users and creators within the Near Social through incentivized campaigns, fostering a dynamic and engaged community.
- Vision:
- Transform Near Social into a vibrant hub for active interactions, creativity, and engagement.
- Core Programs:
- Campaign Creation and Management
- Wallet Integration and Transactions
- User Engagement Tracking and Analytics
- Alignment with NDC’s NDC CoA Vision:
- Enhance user engagement aligning with NDC’s focus on vibrant and interactive ecosystems.
- Drive on-chain activity contributing to NDC’s NEAR utilization goals.
- Team:
- A dedicated team of four: two blockchain developers, one UI/UX designer, and a Product Manager will work on the project.
- Requested Budget for Dec, Jan, Feb:
- The allocated budget covers development, testing, marketing, and user acquisition for the next three months, ensuring a robust and sustainable platform.
7.2 What Problem Are You Aiming to Solve?
Problem Statement:
Creators within the Near Social are facing the significant challenge of insufficient interactions on their posts. Despite sharing valuable content, they struggle to garner the desired engagement, limiting the reach and impact of their contributions. This lack of interaction not only hinders the growth and visibility of creators but also diminishes the overall vibrancy of the Near Social community.
Problem Solution:
The “Socializer” platform emerges as a transformative solution to address the challenge of low interactions for creators on the Near Social. Socializer introduces a novel approach by incentivizing users to actively engage with posts through campaigns. A creator (or any user) can start a campaign by filling a form with a link to the post that they want to promote, and fund rewards in NEAR or select NEP-141 standard tokens. By participating in these campaigns, users earn small rewards for their interactions, creating a mutually beneficial relationship between creators and users.
Benefits
The Socializer platform addresses several key challenges:
- Improved Engagement: Encourages users to interact with Near Social conent through reward, causing a ripple effect of impressions
- Promote utilization of SocialFi: Aims to increase on-chain activity by generating many transactions (like, follow, repost, Comment, Post, etc,) via incentive campaigns, hence contributing to the general growth and utilization of SocialFi on NEAR.
- Creators’ Visibility: Offers a mechanism for creators to get followers and attention through successful campaigns, thereby providing motivation to create more content.
- Monetization Opportunities for users: Creates effective monetization channels for and regular users, hence making way for onboarding masses. Users receive tangible rewards for simply interacting with posts, providing them with an incentive to actively engage and contribute to the community.
- Utility to NEP-141 Tokens: The Platform provides utility to the tokens by select projects, which most users have stacked up through staking yields/staking.
Given below is the example scenario of the socializer Platform
- Alex creates a Campaign to boost his post about his new BOS component:
- Sets Requirement: Like, Follow, Repost, Comment
- Sets a reward of 10 Near for 3 winners
- Users Interacting with the post: 50
- Transaction Calculation:
- Transactions per User: 4 (Like, Follow, Repost, Comment)
- Total Transactions Generated: (50 Users * 4 Transactions) = 200 transactions on-chain.
Alex gets the interaction he deserves on the Social post, users get rewarded for interacting with the post, and there are ~200 transactions on NEAR. Everybody wins!
Projections:
These estimates provide a more complete picture, taking into account daily and weekly posting frequency. The figures demonstrate the Socializer platform’s potential impact on NEAR, with a considerable number of transactions generated weekly/monthly through user engagement in campaigns.
| Metrics | Details |
|---|---|
| Assumptions | - 3 to 5 posts per day |
| - 20 posts per week (average) | |
| Campaign Details | - Requirement: Like, Follow, Repost, Comment |
| - Transactions per User: 4 (Like, Follow, Repost, Comment) | |
| Daily Transaction Calculation | - Transactions per Post: 20 Users * 4 Transactions * 3 Posts = 240 |
| Weekly Transactions | 7 * 240 = ~1,600 |
| Monthly Transactions Generated | - Total Transactions Monthly: 1600 * 4 Weeks = ~6,500 |
Preview of the platform
-
Live Campaigns: List of live campaigns that the users can choose to participate from.
-
Profile & transaction ledger screen: Deposit, withdraw and check historical transactions
-
Form for creators to create a new campaign.
-
Campaign participation Window: Users will participate and engage with the posts from this screen.
-
Past campaigns, showing results of participation and winner lists.
7.3 DAO/Project Charter:
Project Purpose:
The purpose of this project is to design, develop, and implement the Socializer platform that aims to incentivize user engagement, promote on-chain activity, and enhance the overall user experience within the Near ecosystem.
Objectives:
- Increase user engagement on the Near Social through incentivized campaigns.
- Drive on-chain activity by creating multiple transactions per user engagement.
- Provide creators with increased visibility and rewards for their content.
- Introduce monetization opportunities for both creators and regular users.
- Boost adoption of the SocialFi through a compelling and rewarding ecosystem.
- Provide utility to NEP-141 standard tokens that have community traction
in the ecosystem.
Deliverables:
- Fully functional Socializer platform
- Campaign creation and management features
- BOS integration, manage authentication, deposits, and withdrawals with NEAR gateway.
- Engagement tracking mechanism with metrics
- Leaderboard for tracking leading creators (for potential future rewards & airdrops)
- Comprehensive documentation
- Marketing materials for platform awareness
Key Milestones:
- December: Platform UI/UX design and frontend Development
- December & January: Platform Development and Testing
- January (continuous): Marketing initiatives and user acquisition as well as ongoing maintenance, bug fixes, and feature enhancements
- January: Platform go-live
How can your DAO / Project achieve NDC priorities, goals, and KPIs?
User interaction, on-chain activity, unique wallets, and ecosystem partnerships are the major KPIs we set for ourselves to assess the platform’s efficacy. These KPIs also align wit NDC Priorities:
| Priority/Goals | How to Measure | KPIs |
|---|---|---|
| User Engagement Metrics | Track the increase in likes, reposts, follows, and comments on the Near Social driven by user participation in Socializer campaigns | Average Interaction of 40 per post (likes, comments, reposts) within the first 30 days of launch. 15 % increase per quarter. |
| On-Chain Activity | Each completed task in a campaign generates on-chain transactions, “likes, reposts, follows, and comments” | Average Interaction of 40 transactions posts (likes, comments, reposts) within the first 30 days of launch. 15 % increase per quarter. |
| Unique Wallets | Number of wallets interacting with Amplify Platform (creators and users combined). | 250 Unique users in the first 30 days of launch. 10 % increase per month. |
| Ecosystem Partnership | New partnerships created with Grassroot DAOs, projects that use the Socializer platform to boost engagement. | Three major projects/ DAOs as new partners every month: Projects with NEP-141 fungible tokens, |
By aligning these strategies with NDC priorities and consistently monitoring the corresponding Key Performance Indicators (KPIs), the Socializer platform aims to actively contribute to the achievement of NDC goals and priorities within the Near ecosystem.
Roadmap of your DAO/project, Milestones, and achievements
| Milestone | Description | Estimated Timeline |
|---|---|---|
| UI/UX Design | Collaborate with designers to create an intuitive and user-friendly interface for Socializer. | Dec |
| Frontend Development | Begin developing the front end of the Socializer platform based on the finalized design. | Jan - Feb |
| Backend Development (Near Blockchain) | Implement the Backend, | |
| integration with frontend, testing. | Jan - Feb | |
| Maintenance, | ||
| Deployment | Address any identified issues, optimize performance, and deploy the Socializer platform. | Late Jan (or) |
| Early Feb | ||
| Marketing, Partnerships | Marketing the platform within and outside the ecosystem with creative campaigns and onboarding users to the platform. | |
| Partner with projects and grassroots DAOs. | Jan-Continuous |
Section 8: Budget
| Line Item | Estimated Hours | Hourly Rate | Estimated Cost |
|---|---|---|---|
| Graphic Design & Product Designer | 30 | $40 | $1,200 |
| Frontend Developer | 40 | $50 | $2,000 |
| Backend Engineer | 80 | $65 | $5,200 |
| Product Manager | 30 | $70 | $2,100 |
| Marketing, Social Media & Onboarding Campaigns | $3,000 | ||
| Total | 13,500 |
Section 9:
Does your project/DAO require one-time or continuous funding?
To cover design, implementation, marketing, and operations expenditures, the Socializer project will initially require a one-time investment. This comprises the budget for the following three months (December, January, and February), which will cover various parts of platform enhancement, user acquisition, and continuing maintenance. The one-time funding is intended to develop a comprehensive and feature-rich platform within the timeframe specified.
Will your DAO/Project device way of sustaining itself after this round of funding?
Socializer intends to maintain itself after the initial round of funding by implementing a fee structure. A 1.5 NEAR fee is implemented for each campaign, paid by the campaign creator. This fee helps to fund the platform’s ongoing growth, maintenance, and improvement. By adding this fee, Socializer hopes to generate recurring revenue to fund its operations, assuring the platform’s long-term stability and growth.
What are the possible roadblocks to the success of your project/DAO?
| Roadblock | Challenges | Mitigation |
|---|---|---|
| Technical Challenges: | Unforeseen technical faults or defects in the platform may have an impact on user experience and general functionality. | Technical difficulties can be addressed and resolved by rigorous testing during the development phase, regular updates, and a responsive technical support system. |
| Community Building: | To create and maintain an active and engaged community around the Socializer platform. | Mitigation measures include implementing community involvement activities, encouraging open communication channels, and incorporating user feedback into platform enhancements. |
| Competition | The NEAR blockchain and decentralized application field is crowded, and comparable platforms may arise. | By constantly innovating, remaining current on industry developments, and aggressively responding to user needs, Socializer can keep its competitive edge. |
DevHub Discussion link for the Socializer idea: https://near.org/devhub.near/widget/app?page=post&id=2673
, so this proposal will be assessed. At the same time, I feel as though there should ge really be an attempt to work with Devhub first since they have more expertise with supporting devs within the ecosystem and are more set up to support projects that are creating tech that supports the near eco.
