We will be editing this document and add more details as we go through the development of our project, but to give you an idea of our music festival events in the past, and the upcoming event, please view our facebook page - SummerFrolic Future Dance.
We are currently in the process of developing a blockchain-based ticketing system that links to its physical counterpart through the implementation of ERC-20, ERC-721, and ERC-4337 standards. More information about this coming soon…
We plan to use and test this system at a live music concert event that will take place in the next few months.
We want to create a DAO model that is accessible to the Nouns community and allows participants to have a say in the decision-making process of the ecosystem.
We will develop a voting mechanism for users to vote on various aspects such as event location, lineup, ticket prices, and any additional features that drives its economic growth utilizing a native token called $FUTURE.
Being the DAO distribution logic we implement, we want Nouns to be the brand presenter or partner of our upcoming event SummerFrolic Future Dance on May 31 - June 1, 2024 as well as the MAD Futurists Conference on August 2024, exact dates to be determined.
We present a new concept music festival that is based on an open narrative theme; wherein users can contribute to the creative process of its story. We plan to introduce TAMAD.XYZ as our collaborative platform for open innovation.
In a later stage of this project, a decentralized finance model will be integrated into the ecosystem to add value and reward participants who actively engage with the platform.
The problem of all new technologies is the need for adoption and acceptance by users. All users do not want to go through the hassle of learning and using a new system, especially if it does not provide clear beneficial value over existing solutions.
To help overcome the challenge of user adoption, we realize the importance of our current products that give users tangible benefits and value, and that is through live events. By utilizing our existing products and integrating them with blockchain technology, users should not even be able to distinguish that they are using a new system. The integration of blockchain technology into the ticketing industry will not only enhance security and authenticity but also provide intrinsic value to event attendees.
We are asking the DAO to grant us 90 ETH to bring our vision to life, breakdown of this cost will be detailed in the future iteration of this proposal.
TicketNFT for Wallet Creation (Account Abstraction)
In Phase 1 of the project, we will focus on implementing account abstraction during user blockchain registration through live events. A simple process will be designed where users attending a live event can purchase a ticket that automatically registers them as a user on the blockchain network. This will have a unique identifier associated with each user, ensuring that their personal information and credentials are securely stored on the blockchain, this will be represented as a digital identity through non-fungible tokens.
These unique identifiers in non-fungible tokens will be generated and assigned to each ticket id number that will be printed on the physical ticket. These non-fungible tokens should retain ownership on the blockchain, allowing users to have full control and access to their digital identities and value account balances, not requiring any centralized authority for authentication or verification, eliminating the need for intermediaries or third-party trust.
In this phase, we will be able to establish key metrics such as the number of users registered through live events, the time it takes for a user to complete the registration process, and feedback from users regarding the efficiency and convenience of the account abstraction process.
NFT for Event Ticket Generation (Governance Model)
By creating a decentralized system for all organizers that create engaging experiences and events for the users, we will establish an infrastructure where organizers can inject intrinsic value into their physical event tickets, making them more valuable and desirable for users. To be an organizer, one must hold 1 Nouns token in exchange for 1 FutureVerbs token. These FutureVerbs tokens will mimic the mechanism of the Nouns distribution model that promotes fixed rate of scarcity over time, producing 1 FutureVerb token every 24 hours forever.
However, our team will pre-mint and own a certain number of FutureVerbs tokens to build strategic partnerships with trusted organizers and ensure the initial adoption and usage of the platform. These pre-minted tokens will be voted on by the community to determine its holder. The rest of the FutureVerbs tokens can be acquired by any Nouns token holder, automatically acquired if it corresponds to the sequence of dates and time at which it was born, but cannot be acquired once sold or transferred to another user who does not necessarily hold the corresponding Nouns token. A bidding mechanism will be implemented to facilitate the distribution and acquisition of FutureVerbs tokens, ensuring fair and transparent pricing based on market demand. 50% of this bid revenue will be allocated to the team development and maintenance of the platform, while the remaining 50% will be redistributed back to the FutureVerb token holders through a distribution mechanism within a smart contract that is represented by our native token called $FUTURE, this contract will define the rules and processes within a decentralized governance model over a Singular Value Network.
NFT for Intrinsic Value Creation (Asset Integration)
A singular value for user adoption must be established and confirmed by different participants in order to ensure the authenticity and accuracy of accounting information, a singular asset that we lean towards, in which we put trust over our values within the security of the future.
This value therefore must have the capability to run trust and verification among users that facilitates secure and private access to information, ensuring the credibility of user accounts and the integrity of data shared within the network. This value will be represented by a cryptographic signature called ERC-20 tokens wherein they can be managed by several smart contracts that enforce the token’s rules and conditions to ensure the proper functioning and security of user accounts data stored on the blockchain.
SummerFrolic is an annual music festival that our team have established since 2014. On its 10th anniversary event, other than its cause to promote tourism and the preservation of life by supporting medical missions in the remote underserved areas of Southern Philippines, we plan to incline its vision towards the future of emerging technologies. An annual event that celebrates art, music, technology, and innovation, hence we brand the event as SummerFrolic Future Dance, the flagship event that showcases its host technology partners and their innovations. SummerFrolic will be the event for the celebration of life, while FutureBlock will be the event for the presentation of new technologies.
Previously, during SummerFrolic 2023 we hosted a pilot sub-event called FrolicBlock that introduced blockchain technology and smart contracts to attendees. This year (2024), we plan to take it a step further with the rebranded FutureBlock Event.
The FutureBlock is a symposium event dedicated to exploring the latest advancements and trends in technology, innovation, and entrepreneurship.
In its first year, the event aims to bring together industry leaders, experts, and visionaries within the emerging blockchain technology sector. Speakers will share their insights on the potential applications and impact of blockchain across various industries such as finance, supply chain, healthcare, and more.
This event will be the first product that will use our host technology, a platform that utilizes blockchain and smart contracts to enable future intrinsic value creation in the form of a smart ticket issuance.
Our previous blockchain event gained support from different government agencies and blockchain projects.
The host technology partner will be able to brand and present these two connecting events, FutureBlock as a platform to showcase their latest technological advancements for education and SummerFrolic Future Dance as its culmination event for marketing and brand exposure.
Since we are building our own ticketing system that is decentralized and powered by blockchain technology thereby creating an open economic model, it therefore needs a governance protocol to ensure fair and transparent decision-making in organizing events that aligns with the principles of decentralization and community involvement.
For this project, a Decentralized Autonomous Organization as a host technology partner is essential, and Nouns DAO fits this role perfectly because of its infinite singular growth model of exclusivity, minting one NFT after another every 24 hours forever, making the position for governance and decision-making as ideally exclusive under a singularly defined contract and inclusive under its infinite distribution model.
With this project, we will be able to add value to the ownership of Nouns DAO NFT by integrating it with our decentralized ticketing system as one of its utility.
For the past 10 years, our project initiatives focused on creating a fun and memorable event within the music festival industry that support free access to healthcare and promote wellness to its host community. We have done this cause in partnership with the local government units, healthcare organizations, and non-profit groups to ensure proper delivery of medical services and resources.
Due to our team’s passion for innovation and commitment to creating a positive impact, we have decided to expand our event’s cause and initiatives beyond the promotion of wellness and healthcare, and towards the exploration and education of emerging technologies which hold great impact on the future of various industries. We realize that in order for communities to thrive in the future, they must be equipped with the necessary knowledge and skills to evolve and adapt to the changing technological landscape.
This year, after a decade of event operation, we plan to expand our projects’ mission to a new set of initiatives that incentivizes education and innovation in emerging technologies. Hence, we would like to introduce our new initiative the MADCell Labs Project, this will be a team of enthusiasts dedicated to researching, developing, and implementing blockchain technologies in various industries.
We aim to align our events production with emerging technology trends and initially focus on blockchain as it holds value potential in revolutionizing various industries. Hence, we propose to organize an annual series of technology events aimed at empowering individuals with the knowledge and skills needed to navigate the future. These initiatives promotes adoption and education in emerging technologies, initially focusing on the importance of a decentralized autonomous organization that leverages blockchain technology for greater transparency in governance and decision-making processes over the three pillars of a thriving decentralized future: Identity, Value, and Security.
With this mission in mind, we looked into ways of how our team can build a bridge between traditional systems and decentralized technologies. As a result, we delved into our own domain of current product and service offerings that can be leveraged for this purpose and integrate blockchain solutions into its existing frameworks for its market operations and trade transactions. We believe that by integrating blockchain technology into our existing frameworks that we already have a solid foundation of, we will be able to provide our community a smooth and educated transition towards the decentralized future. This way, we will be able to effectively introduce the benefits of blockchain technology to our existing customers and stakeholders who have been supporting us throughout the years, while also attracting new individuals and businesses who are interested in exploring the potential of blockchain in their respective industries.
In search of a new mechanism for a decentralized system that serves our existing business model and that aligns with our new mission, we realize that our value offering has always been the events that we organize are not just about logistics and operations in which we only deliver physically but indeed also about creating a memorable and impactful experience for the attendees within the events industry, these expressions of value in memories we believe is where we can bring the singular purpose of blockchain technology into our existing event management processes, through the development of a platform that transparently and fairly distributes the singular value that is represented by a token to each participant based on their contributions and engagement in the ecosystem.
Through the development of a ticket memorialization system that integrates decentralized finance which incentivizes future projects and open innovation protocols that fast track the generation of innovative ideas and collaborations for new events in innovation and technology, we envision a future where event attendees can have full control over their personal data, including their identity, preferences, and transaction history.
Each physical ticket can be tokenized which gives an individual access to incentives and a suite of decentralized finance applications and services.
Therefore, not only can our community attend our events and create unforgettable memories in reality, but also a new window of opportunities opens for them in the world of decentralized finance and open innovation. A new medium for collaboration and engagement is created, where individuals can connect, learn, and contribute to the growth of decentralized technologies while experiencing the excitement of our events.
OUR CURRENT DEVELOPMENT
We are currently in the process of developing a blockchain-based ticketing system.
We plan to implement this system for our upcoming event to test its feasibility and effectiveness.
We are in the organizing phase of our flagship annual event dubbed as SummerFrolic Future Dance, a much-awaited electronic music festival in Southern Philippines that gathers thousands of music enthusiasts from all over the country. We plan to brand the presentation of the event to the Nouns project.
We are in the planning phase for a new conference event in the Philippines focused on blockchain technology and its impact on various industries. An initiative for blockchain education and marketing strategies, with the goal of promoting awareness and adoption of blockchain technology.
We are also in the planning phase of a hackathon event that will bring together developers, designers, and innovators to collaboratively build decentralized applications and solutions using blockchain technology.
With all these projects in the pipeline, we are also in the process of writing a fun narrative that gives this project a branding identity that reflects the purpose of our events. Our current development involves the creation of a decentralized narrative system that will allow participants to contribute and shape the storyline of our events. You may view the early concepts of this development here on our website at TAMAD.XYZ.