Full proposal
Analytics tool for NFTs
Summary of Proposal: Infrastructure Funding for Polkadot Asset Hub - Migration of Kusama NFTs
The Background
This proposal represents a strategic opportunity to migrate NFTs to Polkadot Asset Hub from Kusama Relay chain.
With 34,176 $KSM in total value locked in NFT sales and highly engaged users, Kusama has tremendous creative energy ready to expand Polkadot’s reach.
Migrating these diverse high-value NFT collections, comprising 2,847 total collections, 23,529 unique owners, and 37,438 $KSM in total volume will attract artists, collectors and capital - priming Polkadot for the upcoming NFT bull run. Facilitating the secure transfer of assets to Polkadot Asset Hub will provide continuity for existing Kusama NFT creators and owners during this platform transition.
Who will deliver this?
KodaDot has unrivaled expertise in Substrate, NFTs and community growth specifically tailored to Kusama and Polkadot.
Our open-source tools already empower NFT creators and traders on both networks.
With skilled leadership, talented developers and an engaged community, we are uniquely equipped to handle this complex transition smoothly.
Problem Statement
Kusama’s NFT ecosystem needs to migrate from the aging “graffiti” implementation to the new Polkadot Asset Hub. This poses challenges:
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Preserving intricate NFT data like metadata, histories and ownership
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No simple, reliable method for Kusama NFT owners to transfer assets
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Platform change risks fracturing the thriving NFT community
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No turnkey solution for mass migration while guaranteeing accuracy and security
In summary, the problem is executing safe, seamless migration without compromising asset provenance or community stability.
What’s in it for Stakeholders
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Polkadot Ecosystem: Readies ecosystem for NFT bull run by integrating Kusama NFTs and liquidity
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Validators: Expected increase in transactions provides more validation opportunities
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NFT Community: Benefits from more robust Polkadot Asset Hub and enhanced interoperability to expand reach
Onboarding Kusama NFT value and users can significantly expand Polkadot’s utility and audience.
The Plan
KodaDot will develop robust, specialized tools to:
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Securely transfer NFT metadata, provenance and ownership records
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Map collections from Kusama into identical ones on Polkadot
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Copy user-owned NFTs into new collections
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Confirm transferred ownership rights
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Store data securely to prevent loss
Our solution will minimize disruption and maximize continuity for the Kusama NFT ecosystem migrating to Polkadot.
Milestones
Milestones 1-3 as outlined below have already been completed. Details of the work delivered under each milestone can be verified by visiting the milestone reports linked here:
- Milestone 1 Report
- Milestone 2 Report
- Milestone 3 Report
- Milestone 4 involves building a robust NFT migration tool for seamless collection transfers, which is in progress and a separate proposal will be created for this.
Budget
$190,314.7 is requested to cover the work delivered in milestones 1-4.
Milestone 4 is set to be delivered on October 1st, 2023 and report will be provided to the community through polkassembly.
Proposal Reports
Quantitative metrics will track:
- Number of NFTs migrated
- User adoption rates
- Transaction volumes
- System stability
- Marketplace growth
Qualitative metrics will measure user satisfaction, community engagement, and on-chain activity.
Regular milestone reports will provide transparency on progress, achievements, challenges, and future plans.
Why This Matters
This migration stands to significantly expand Polkadot’s capabilities and perception as the leader of the next-generation open blockspace ecosystem.
Onboarding Kusama’s creative class will catalyze growth, innovation and cement Polkadot as the nexus point for multi-chain NFTs.
We want to hear from you
Please share your thoughts, feedback, and any questions you may have about this proposal! Community discussion will help assess if this initiative aligns with the goals and values of the Polkadot ecosystem.
