Infrastructure Funding for Polkadot Asset Hub - Migration of Kusama NFTs
➡️ Full proposal ⬅️
Summary of Proposal: Infrastructure Funding for Polkadot Asset Hub - Migration of Kusama NFTs
The Background
This proposal represents a strategic opportunity to migrate NFTs to Polkadot Asset Hub from Kusama Relay chain.
With 34,176 $KSM in total value locked in NFT sales and highly engaged users, Kusama has tremendous creative energy ready to expand Polkadot's reach.
Migrating these diverse high-value NFT collections, comprising 2,847 total collections, 23,529 unique owners, and 37,438 $KSM in total volume will attract artists, collectors and capital - priming Polkadot for the upcoming NFT bull run. Facilitating the secure transfer of assets to Polkadot Asset Hub will provide continuity for existing Kusama NFT creators and owners during this platform transition.
Who will deliver this?
KodaDot has unrivaled expertise in Substrate, NFTs and community growth specifically tailored to Kusama and Polkadot.
Our open-source tools already empower NFT creators and traders on both networks.
With skilled leadership, talented developers and an engaged community, we are uniquely equipped to handle this complex transition smoothly.
Problem Statement
Kusama's NFT ecosystem needs to migrate from the aging "graffiti" implementation to the new Polkadot Asset Hub. This poses challenges:
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Preserving intricate NFT data like metadata, histories and ownership
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No simple, reliable method for Kusama NFT owners to transfer assets
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Platform change risks fracturing the thriving NFT community
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No turnkey solution for mass migration while guaranteeing accuracy and security
In summary, the problem is executing safe, seamless migration without compromising asset provenance or community stability.
What's in it for Stakeholders
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Polkadot Ecosystem: Readies ecosystem for NFT bull run by integrating Kusama NFTs and liquidity
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Validators: Expected increase in transactions provides more validation opportunities
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NFT Community: Benefits from more robust Polkadot Asset Hub and enhanced interoperability to expand reach
Onboarding Kusama NFT value and users can significantly expand Polkadot's utility and audience.
The Plan
KodaDot will develop robust, specialized tools to:
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Securely transfer NFT metadata, provenance and ownership records
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Map collections from Kusama into identical ones on Polkadot
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Copy user-owned NFTs into new collections
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Confirm transferred ownership rights
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Store data securely to prevent loss
Our solution will minimize disruption and maximize continuity for the Kusama NFT ecosystem migrating to Polkadot.
Milestones
Milestones 1-3 as outlined below have already been completed. Details of the work delivered under each milestone can be verified by visiting the milestone reports linked here:
- Milestone 1 Report
- Milestone 2 Report
- Milestone 3 Report
- Milestone 4 involves building a robust NFT migration tool for seamless collection transfers, which is in progress and a separate proposal will be created for this.
Budget
$190,314.7 is requested to cover the work delivered in milestones 1-4.
Milestone 4 is set to be delivered on October 1st, 2023 and report will be provided to the community through polkassembly.
Proposal Reports
Quantitative metrics will track:
- Number of NFTs migrated
- User adoption rates
- Transaction volumes
- System stability
- Marketplace growth
Qualitative metrics will measure user satisfaction, community engagement, and on-chain activity.
Regular milestone reports will provide transparency on progress, achievements, challenges, and future plans.
Why This Matters
This migration stands to significantly expand Polkadot's capabilities and perception as the leader of the next-generation open blockspace ecosystem.
Onboarding Kusama's creative class will catalyze growth, innovation and cement Polkadot as the nexus point for multi-chain NFTs.
We want to hear from you
Please share your thoughts, feedback, and any questions you may have about this proposal! Community discussion will help assess if this initiative aligns with the goals and values of the Polkadot ecosystem.
Comments (16)
It's a great project. There are less users on Kusama now and We must promote Polkadot. We need to migrate these collections. I like you begin to work on these migration tools before asking for funds. Perhaps you can give more details for the budget (we can see only how much hours for each milestone) Thanks for your proposal. (You haven't made a treasury proposal but a discussion with a poll, I think you must make another proposal to ask for the treasury)
I applaud the efforts by the Kodadot team to keep building and shipping through the bear. They are the first UI to implement the AssetHub nfts pallet and I look forward to more collaboration between Proof of Chaos and Kodadot to push innovative NFT use cases. On to some technicalities of this proposal... The big selling point / wow factor of rmrk2 was the nesting of NFTs and equippability. This functionality is currently not available with AssetHub NFTs. Am I understanding correctly that your migrator is only really for non-nested/basic NFTs? Migrating nested NFTs would be a sort of downgrade as the ability to nest/equip would be lost during migration? With regards to the requested funding: Instead of asking the treasury to fund the migrator, why don't you charge NFT owners a small fee for using it? If the migrator adds the Kodadot address to be a royalty recipient (multi royalty recipient so the creator also gets a royalty) in all migrated NFTs through your UI then 37,438 $KSM * $25 (KSM price) * 5% (Kodadot royalty) = $47000. Of course I am making assumptions here but I think you get the point. Asking the treasury for funding puts all the risk on the treasury, cripples your business drive, prevents you from finding your product market fit and ultimately hurts you long term. Some other ways I could see KodaDot earning revenues: charge a fixed fee/ become a small percentage royalty recipient (multi account royalties) on all nfts minted through Kodadot UI. Currently Kodadot is the only UI supporting AssetHub nfts pallet and I can also see us adding Kodadot as a royalty recipient for all the Proof of Chaos NFTs (that will start getting minted soon) to support your development too (requires multi-account royalties ofc). I am worried for any project that heavily relies on treasury funding to be misguided and prevented from reaching its full potential. Gabriel