Submission: KryptiFi

[pranavvdesai]

Team Name

Heavy Noobs

Team members (if changed)

Member #1
Name: Pranav Desai
Email: pranavdesai.psd@gmail.com
Twitter handle: PranavvvDesai
Discord ID (with #tag); bambani#4742

Member #2
Name: Sahas Vivek
Email: sahasvivek001@gmail.com
Twitter handle: SahasVivek7
Discord ID (with #tag); Sahas#4752

Member #3
Name: Harsh Singh
Email: harshsingh16d@gmail.com
Twitter handle: harshS_16
Discord ID (with #tag); HarsH#5790

Member #4
Name: Swarup Kharul
Email: swarupkharulsk@gmail.com
Twitter handle: SwarupKharul
Discord ID (with #tag); Swarup Kharul#4573

Project Name

KryptiFi

Contact Details

pranavdesai.psd@gmail.com

Project Track

NFT, Art & Gaming

Sponsor Bounties

IPFS Filecoin, Alchemy

Link to project GitHub public repo

https://github.com/pranavvdesai/kryptiFi

Link to project website

https://krypti-fi-app.vercel.app/

Link to demo video

https://drive.google.com/file/d/1_I45ciyjpYE36wjf8XE0e9-WUkMQfghl/view

Contract address

marketplaceAddress = https://mumbai.polygonscan.com/address/0xa45608244d289E8030c35f4A58e94A018bC4dD71
creatorAddress = https://mumbai.polygonscan.com/address/0x46d9315643D2391e51b32DBE7d4b2D74a9c8Abe3

Inspiration

There are many underrated and unrecognized content creators who work hard every single day without much recognition. With the existing social media platforms, these creators do not get enough for the work they put in. What if we can help them by connecting their abilities with new-age tech?

What it does

About:

• We have built a dApp on top of the polygon ecosystem by which content creators can mint their own NFTs and sell it to their fanbase. Users can also donate to these creators to show support to them by way of donation of some Crypto(in this case: ETH) and can avail some perks such as access to exclusive video NFTs. Apart from this, another feature which has been implemented is highlight extraction. In this, the creator can upload a specific video and highlights of important parts of the video can be generated from it and be sold as video NFTs as mentioned above.

• Decentralized video storage allows video to be passed between users, free from the restrictions of any one platform. This will
  likely help creators bypass censorship, allowing them to share and monetize content that might not be accepted by YouTube or Instagram.

A new way to build up a fanbase before the video is released

• Releasing posters or exclusive scenes as NFTs before a video or movie is released can build hype around the project.

Another way to release exclusive editions like in the blockbuster days

• While the days of exclusive edition dvds are behind us, NFTs provide a new format for releasing special versions of videos and films by the content creators.

Challenges you ran into

• Highlight extraction of a particular video NFT ,as ffmpeg was a big challenge to integrate within our application.
• A reliable model or algorithm with which we could recommend the NFTs' value based on the creators engagements.
• Was pretty challenging to put all of our data on-chain into ipfs rather than using any backend.
• We were also facing issues while hosting the website and IPFS hosting was something we were not familiar with, which was also definitely a challenging task.

Anything else?

Future Scope:

• Unique NFT Collections per video.
• Recommendation of NFT Value based on number of likes and views.
• Video highlights based on most replayed parts of the video.