One of the interesting initiatives by IOG is Project Catalyst, which is a continual experiment in decentralization and community engagement. Through Project Catalyst, community members can submit proposals for new projects, and others can vote on which proposals they would like to see funded.
Since Project Catalyst funds ideas that have the potential to make a real-world impact on Cardano and its users at NMKR, we are excited to see what the community comes up with.
1. Innovate: Projects create proposals that are refined and developed by the community based on feedback.
2. Vote: The community votes on proposals using a voting app.
3. Keep updated: Keep track of progress on all projects through regular updates.
Voting takes place through the free phone app called "Catalyst Voting." After downloading and opening the app, you will be prompted on the screen to register using the QR code attached to your Cardano wallet. This is necessary because you are voting as an ADA holder. Currently, you must have at least 500 ADA votes to vote.
In Fund 9, we have currently listed one proposal in the voting category: Building on NMKR.
As the trend is known, most of the innovation actually comes from within the Cardano ecosystem, and everyone does their best to support one another. Therefore, we want to support developers with APIs, so that they can utilize NMKR infrastructure to dream up something and develop their very own set of NFT tools without any NMKR branding being advertised. This helps make the Cardano ecosystem more accessible by making interaction with NFTs for end-users as easy as possible.
We welcome people to come forward and also propose projects that are utilizing NMKR Studio API for the next catalyst funding round, Fund 10. The category is 100k large, and if this category gets funded, then every successfully submitted proposal will get matched with NMKR tokens in an AirDrop. The utility of NMKR tokens serves to provide self-governance and fraud prevention within the Cardano NFT community. With the funds raised from this proposal, NMKR wants to enable developers around the globe to build their tools on Cardano and on the NMKR infrastructure.
Problem 1: How can we make the Cardano NFT ecosystem more accessible by creating tools that implement the NMKR Dev API? Read more.
Problem 2: Non-Crypto-Native NFT collectors don't care about on which chain the NFT is stored. They just want to pay with their wallet and receive the NFT on their current chain. Read more.
Problem 3: Cardano is not very accessible to Game Developers, there are barely any games running on Cardano and even fewer Game-Focused tools. Read more.
Problem 4: KYC verifications can slow down our business activities. Read more.
Problem 5: Offering Employee's Company tokens as an incentive tool can cause high tax costs on the employees & the company's side – there is no optimal distribution solution in the market yet. Read more.