Duggie is an inclusive, community-owned NFT marketplace for rescued animals, pets and endangered species.
“People who own the data do not benefit from their data”
Some of the problems we would like to solve with Duggie:
- Data injustice, where the people who own the data do not benefit from their data, rather, they end up being preyed on and offered less than they should.
- Lack of NFT data on the Ocean marketplace. In the instances where we see some, there have been borne out enterprise collaboration between Ocean and other players, which goes to emphasise the importance of such data sets.
- Massive database issues (misspelt names, loss of data keys, wrong filing) and personal data evidence breaches.
- The growth of pet ownership and a propositioned data of these pets in the form of pictures circulating on their internet with no real ownership mod such picture annotations.
- A massive amount of pet data was collected but left dormant on different servers on the internet (underutilized), with the owners earning no rewards on such massive data sets.
- Data over time has been locked including pet data, this is due to. Several reasons from security to privacy and control (provenance) concerns.
“A Data Union of pets with AI annotations. Duggie allows pet “owners” and animal “crusaders” all over the world to purchase or create, protect or rescue and nurture or sell digital animals called “Duggies”. On the platform, each Duggie is a dataset with an identifier (a collar tag) that is unique, immutable and transferable”
An NFT (Duggie) is a unit of data stored on a digital ledger, called a blockchain, which can be sold and traded. NFTs can be associated with a particular digital or physical asset (such as a file or a physical object — animals) and a license to use the asset for a specified purpose. NFTs (and the associated license to use, copy or display the underlying asset) can be traded and sold on digital markets (Ocean Market).
What are we building?
Duggie is a self-sustaining community where users can create new collectables and trade them on the Ocean market. Hence, creating more ethical, more diverse data and solving bias with dataset ownership giving back to the pet owners. Duggies are unique and transferable blockchain possessions (NFT).
Our final product will be a web-based app www.duggieworld.com. You will be able to connect your meta-mask or web-based wallet and mint NFTs with annotations, set forking requirements, add the right attribute and publish the data on the Marketplace, sell the data and stake on different LP and farming programs.
The Duggie platform will be used by different stakeholders to mint NFTs and monetize them fairly and transparently without worrying about the huge storage cost that is usually associated with such magnitude of data storage.
Diagram here
Platform Participants
Contributors:
Owners/Holders
Crusaders
Buyer
How will Duggie drive value to the Ocean ecosystem?
- Primary Metric: “$ Data Token Consuming Volume”.
- Secondary Metric: “Total Value Locked” (Staking in LP and Farming)
- We believe we can attract over 2,000 unique data publishers to the Ocean Market.
- We also estimate a 35% buy rate from the published data which is around 700 purchases, volume of 5,000 OCEAN which is 3,500,000 OCEANS per month in total volume.
Illustration:
- Ocean Community gets 0.2% of consume volume. 0.2% *3,500,000 / month * 12 months = approx 84K OCEAN
- So bang = 84K OCEAN.
- Grant size = buck = 17.6K OCEAN
- So ROI = bang / buck = 84K OCEAN / 17.6K OCEAN = 4.77
- Proposer’s estimate of % chance of success = 65%
- Final: expected ROI = 0.65 * 4.77 =3.10 (which is above the demanded ROI of 1.0).
Technologies and Tools
- Javascript (Node.js), Express.js, Sequelize, MySQL.
- Solidity, OpenZeppelin, IPFS, Truffle.
- Javascript (ReactJS), Bootstrap, Web3JS.
- Github (all the codebase are hosted on private Repos in Github).
- AI Model using Python & Django.
Duggie represents a collection of images and annotations. They are uploaded, automatically annotated, published and the Owners are rewarded with data tokens. The owners can set forking requirements for future modification, and when forked, the data union is co-owned by the community of contributors. This goes a long way to encourage the gathering of diverse data sets and thus, improving our AI recommendation system.
