Funding Tier: Tier 1, 60K CFX
Project Overview: NFT Social Media Popularity Tracker
This prototype, which will be prepared within the scope of Tier 1, aims to measure and follow the social media popularity of NFT collections, which plan to have a share on a global scale with the expansion of the Conflux NFT ecosystem. This project will be developed for Tier 1 as the first step of the “Conflux NFT Tracker” vision. With the Conflux NFT market reaching sufficient maturity and the marketplaces producing healthy trading data, this prototype can be developed and evolved into a version that offers end-to-end analytical outputs about NFT collections (i.e. project fundamentals, market history and on-chain metrics) within the scope of Tier 2 or 3.
The project will consist of an engine and dashboard screen that generates analytical metrics on a web scraping infrastructure to be developed. This prototype study is planned to establish data connections and produce preliminary analytical metrics for existing global social media environments. The project architecture will be as follows:
During the planned steps of this project for Tier 1 - 2 and 3, it is anticipated that the Conflux NFT ecosystem will develop further and catch up with the trend in other ecosystems. The tool will be expanded as the ecosystem evolves and data sources increase. Such a tool developed in parallel with the development of the Conflux NFT ecosystem will accelerate the maturation process of the ecosystem and will be the first resource for decisions to be made by NFT buyers about NFT projects.
We are a team that develops analytical solutions, data-driven techniques and predictive tools for the digital world. The team consists of academicians, researchers and professional developers who are very experienced about end-to-end communication and online dashboard tools. With the hype of blockchain technologies and cryptocurrencies, we have been working on pump detection and algorithmic trading backtesting tools in cryptocurrency environment for a year. We have also been working on developing analytical and predictive tools in the Ethereum NFT ecosystem for a while. For further information about our team and experiences, you can check our website:
Funding Application Time:
Milestone1: Data Collection, R&D
The main purpose of the effort at this stage is to determine the general framework, scope, and outputs of the product, and to prepare the necessary communication infrastructures accordingly. In this direction, firstly, a detailed market review will be conducted and the metrics to be used in popularity measurement will be chosen. Then, the social media platforms that have high information flow to be used in quantification and the NFT series to be examined will be determined through feedback from the community. Lastly, dynamic API communication infrastructure will be established for selected platforms (Twitter, Discord, Telegram, Alexa, Google Trends etc.).
- Examining NFTs in the CFX ecosystem and identifying mature collections to be included in the prototype
- Development of scripts that provide API connections and collect raw data
Numbers of the employees: 3
Milestone duration: 30 days.
Grant amount: 15K CFX
After the database is created and the measurement framework is clarified, it is aimed to create the first outputs of the product. Appropriately, the data collected from different platforms will be processed using statistical methods, and the social media popularity of the NFT series in the Conflux ecosystem will be embodied by converting them into numerical values. In addition, we will create an overall score that will cover all platforms, as well as reporting to be created in time series at different frequencies for each social media platform and NFT series.
Moreover, by analyzing the analytical outputs with machine learning applications, we will develop models that will support the determination of the current state of the ecosystem. In this way, we will support collectors to reach their target audiences through the right channels.
- Completion of the script that will provide live data stream via API
- Determining and calculating the metrics expressing popularity and the weights of these metrics on the overall popularity score by analyzing the raw data (for example, the interaction numbers of tweets from the collection’s official Twitter account and hashtags, the change acceleration of the number of members in discord, etc.)
Numbers of the employees: 3
Milestone duration: 45 days.
Grant amount: 25K CFX
Milestone3: User Interface Design & Integration to Conflux
The most important success criterion of the product to be created will be the benefit it will provide to the community. In this context, the development of an easy-to-use interface is very valuable for handing on the generated value to users and providing efficiency. Accordingly, we will develop a user-interface and integrate it into the Conflux ecosystem at the last phase.
- Designing scorecards and graphics for each collection, choosing metrics to be displayed from the interface
- Completion of UI / UX work for the prototype and launching the prototype to live use
Numbers of the employees: 2
Milestone duration: 30 days.
Grant amount: 20K CFX
We do not see this grant offer as a one-time opportunity. We want to continue to produce analytical solutions for the needs of the Conflux community even after the project is completed. Our final goal is to create a platform that will show NFT buyers, sellers, and creators key metrics related to current NFTs in the CFX ecosystem, such as popularity, rarity level, sales history, and fundamental information (project definition, creators, social media channels, total supply, etc.). When Tier 1 is completed, the development direction of the product will be decided according to the maturity level of the Conflux NFT ecosystem. If the market has reached sufficient maturity and NFT marketplaces are able to provide historical and live sales data via powerful APIs, metrics that measure market demand using sales data will be included next to the popularity score. If the market is still not mature enough, the social media tracker will continue to be developed, and crypto projects other than NFT will be added to this tool.