Hello Polkadot ecosystem, my name is Nerofea and in a few days, grant application will be sent through to W3F for an AMM product concept which bridges the gap between live entertainment and crypto for new-to-crypto viewers, incentivizing viewers with opinions, to engage.
The NFN (name yet to be finalised) AMM enables live stream viewers to vote, sponsor, or gift through a crypto-pair or stake smart contract.
Organizations can integrate this feature via an API, embedding it in their streams, including those on major streaming platforms via live chat.
Users and organizations can track their votes and stakes on the NFN site.
The viewers can focus on enjoying their favorite streamers while taking in the crypto world, bite by bite. No complicated trading strategies. No complicated trading platforms.
Access to 5 min video pitch, pitch deck, and grant app and project progress:
The point is that through sponsorship/gifting/voting, both the viewer and the streamer get a profitable opportunity. The viewer will spend those funds anyways, so might as well first go through a stake.
Most live streamers take up to 2 months before they cash out. So there is not much different wait times in cashing out their sponsorship/gifting funds.
Upon creation of the wallet, users have the choice to create a No-Rules wallet, an Auto Vote wallet, or an Auto Stake wallet. Upon creation of the wallet, they fund. The wallet cannot be created without a funded account.
Organizations and more experienced crypto investors, live stream marketers, advert managers, campaign managers, and event producers can make use of analytics and other admin functionalities if they wish so.
The network does rely on the interest of the user in the particular streamer they are watching.
For new users of the NFN AMM who are viewing a stream and are voting/gifting/sponsoring for the first time, and are new to crypto, thus have no funded wallets of their own to exchange from, upon clicking Vote/Gift/Sponsor, they can fund their account from fiat (via card payment). Their account can be created with an email and password.
When the user is gifting/sponsoring/voting, they can choose from the list of crypto pairs, a crypto pair to vote on. The point of this AMM product concept, is to enhance the sponsoring/gifting/voting experience.
We know that the average blue-collar and physical laborer have the interest to get into crypto, but they don’t know where to start from. And they do have the interest to sponsor others in their community. They just don’t have the opportunities to do so.
We also know that such workers despite their long hours of labor, they still spend 2-3 hours watching videos per day. They are reactive viewers, untapped potential for contribution.
The point of this AMM defi concept, was to turn reactive viewers, into proactive supporters.
This AMM concept won 2nd place in the Polkadot Prodigy, in the category defi.
OG Helpful Links to get to view 5 min video pitch, pitch deck, and to get access to the project progress once it is available from 30th June 2024:
I want to say a big thank you to George from Polkadot Prodigy, and blockchain dev outsource company Limechain for sponsoring the hackathon and giving me the opportunity to access mentors throughout the hackathon. I got to make so many new friends across Bulgaria who are all software engineers. I no longer feel isolated! You can access the Discord server to Polkadot Prodigy Bulgaria here:
I will be active on the forum as I go deeper into the ecosystem.
I am excited to be a part of the Polkadot network.