We propose to build a platform for categories & secondary marketplace for SNS domains in partnership with Bonfida (partnership opportunity as indicated in your Discord on 9/7 by Gabe - we’re excited to build it in partnership! ).
Specifically, we are looking to build out the following features initially:
- Mass search (finished, see here: soldomains.xyz)
- Semi-automated category creation (longer-term)
- Details for each category (high-level stats, domains,…)
- Secondary marketplace
Longer-term, we plan to add the following features:
- Analytics by category
- Subdomains management
Details on features
Mass search: We have completed the mass search feature, which is live at soldomains.xyz. As a second step, it’s possible to add GPT-3 to enable users to find similar domains if a domain is not available. We have actually previously built exactly such a feature for ens before & will consider it longer-term.
Semi-automated category creation: in the beginning, categories are created manually. However, the goal is to automate a category creation system where users create categories automatically - pending sufficient support from the community eg through voting.
In the long-term, categories will be expanded to include more social features (not part of this v1 / this proposal), though this is something that can also be picked up by other teams.
Details for each category: this includes i) overview of key stats (floor price, owners, minted/total available, 24 hr volume, total volume, top sale, highest offer, top collection offer, marketcap,…), ii) list of all domains in the category, iii) advanced filtering, and various other small features (pending on user feedback as well).
Secondary marketplace: we will build a secondary marketplace that enables domain holders to trade domains just like on other NFT marketplaces.
Analytics by category: this would be very similar to NFT analytics tools that show KPIs over time in charts, e.g., floor price, marketcap, owners, type of owners (whale vs shrimp,…), and more.
Subdomains management: as part of a strong domain platform, it will be crucial to enable users to create and manage subdomains. This includes creating subdomains to rent out, borrow subdomains, associate wallet addresses to specific subdomains, and more.
Benefit to the SNS community
Building such a platform will first and foremost introduce taxonomy to a currently unstructured domain ecosystem. It will introduce transparency on pricing, activity, and market dynamics for each category, thereby significantly increasing the visibility and therefore value of the existing domains. The growth of the ens space is a good example here
Currently, most existing SNS domains are not tradeable, and even if they are, they get lost in the thousands of solana-based NFT collections. A dedicated SNS marketplace will give SNS domains the attention they deserve.
We have already built out the first feature - mass search to add value to the ecosystem incrementally from day 1.
On top of the tool, we’re actively building out the clubs that are starting to come up, in particular the 999club and 10kclub for SNS domains.
We are a team of repeat founders and would be bringing part of our previous team to this project. In particular, the team includes a Yale PhD, founders of an investment DAO, an ex-BCG manager, a PROOF Collective member, along with advisors who are in executive positions at various web3 startups.
The current ask
As a first step, we’re asking for 25k $FIDA to build out the first version of the tool. This would cover all hosting costs (in particular our own SOL node which runs at ~$1k/month), and part of the labor cost.