Hello Polkadot Community,

I am Wario and on behalf of the Motoverse Project, I am happy to propose  the next,

MOTOVERSE TREASURY PROPOSAL

Proponent: Wario

Beneficiary: 15Q6qYHpM13AnFerc9N5pfFSC5dKD6Tk1m9N7JzQMkReqR3n

Request: $185,000 USD.

Project Overview:

     Motoverse is a decentralized vehicle hub and ecosystem powered by Polkadot, offering cutting-edge solutions for vehicle transactions,  a secondary marketplace, decentralized finance and more. By utilizing Polkadot's SDK and the Tanssi infrastructure.

     We successfully developed a Proof of Concept (PoC) during the OneBlock+ Hackathon and launched a social media campaign with Tanssi. Initially we will focus on creating a second-hand car marketplace that integrates $DOT as one of the accepted currencies for payments.

     Motoverse's mission is to transform vehicle transactions by providing secure, transparent, and decentralized solutions to the global market, addressing real-world needs, preventing frauds, and enhacing eccessibility to vehicle financing.

     How We Will Achieve This:

     Motoverse will realize it's vision by integrating legatech and fintech, ensuring that the digital representation of real-world assets (RWAs) and legal smart contracts contracts are legally binding and enforceable. We  are confident that our team has expertise and determination to successfully bridge the gap between legal frameworks and web3 technologies. 

Proposal Milestones:

Milestone 1: Legal, Intellectual Property and Foundation.

Description: Set a company, protect intellectual property and prepare all legal documents.

     The first thing to do is create a legal company that will allow us to launch in a proper and global way. We already have been talking with Hong Kong Lawyers, but we still want to contact different lawyers around the world that can help us to launch on a global scale. Our first market will be Asia, then Latin America, because both continents have a big adoption.

Milestone 2:  Vehicle Tokenizer Tool

Description:  Complete the Development of a Legally-Compliant Real World Asset Tokenizer.

      Our solution, the "Proof of Law" mechanism, will digitize real-world asset ownership. By utilizing existing ecosystem substrate pallets (Identity, NFT, etc), we will customize them to meet specific legal requirements for tokenizing vehicles. One of the greatest challenges in tokenizing real-world assets is establishing a verifiable legal connection between digital tokens and their physical counterparts. With our legaltech solution and expertise we will ensure the real legal document representation of the digital asset.

     It is important to mention that we created a v1 of this tool as a POC in the OneBlock+ Hackathon, but we still need to improve it. 

Milestone 3: Ricardian Contracts Tool.

Description: Build Ricardian Contract Factory Pallet for Vehicle Purchases.

     By combining legaltech, legal design, cryptography and blockchain infrastructure, we will create Smart-Legal Contracts , also known as Ricardians Contracts, as the core of our AppChain. This will enable smoother, legally-enforceable transactions in the real world through our Marketplace. The first Version of these Ricardian Contract Factory Pallet will focus on commercial sales.

Milestones 2 and 3 will involve testing with real users to create an exceptional UX/UI, ensuring smooth interactions with our platform. This phase will also allow us to test market dynamics and prepare for the initial launch, fine-tuning the platform based on real-world feedback.

Detailed Deliverables:

1. The fundation of a Legal Company.
2. Tokenizer Tool. (Using ecosystem Pallets)
3. Ricardian Contract Factory Custom Pallet.
4. Mobile IOS and Desktop Frontend Dapp.

We estimate that it will take 12 months to complete all the deliveries.

Costs:

1. Foundation and legal consulting: $50,000 USD
2. Substrate Development: $100,000 USD
   1. Vehicle Tokenizer Tool: $30,000 USD
   2. Ricardian Contracts Factory: $70,000 USD
3. UX/UI and tests: 15,000 USD
4. Contracts Legal Design: $5,000 USD
5. IOS app development: $10,000 USD
6. Desktop FrontEnd development.: $5,000 USD

Testing and Market Details:

In Asia first Thailand.

Is well known in the industry that Asia is leading the blockchain disruption around the world, and Thailand wants to become a Blockchain Protagonist in the Continent.

Thailand Key Statistics:

1. Population: 70 million
2. Internet penetration: 88%
3. Government adoption: Thailand Government have been updating their regulations in the last months allowing sandbox for fintech companies.

In Latam first Mexico. 

Mexico is an ideal test use case do its openness to blockchain technology and fintech innovation. With over 650 fintech startups, Mexico is one of the largest fintech Markets in Latin America. 

Mexico Key Statistics:

1. Population: 130 M (Average age: 27 years).
2. Internet Penetration: 70%
3. Government Adoption: Cryptocurrency inclusion on the Fintech legislation since 2018. Smart Contracts for Dispute Resolutions aproved in legislation by the end of 2023.
4. Among of the top 16 countries for global crypto adoption.
5. Mexico Bank is part of the Agora Project.

What if this Proposal Does Not Pass?

If the proposal is not approved, we will actevely seek community feedback, revise the proposal, and resubmit it to address any concerns. 

Team: 

In addition to our core team, which includes Wario — CEO, Legaltech Wizzard and PBA 4 Founders Track alumnus,  and Luke — CTO and PBA 4 Devs Track Alumnus, we also have a Substrate Developer (PBA 5), a front-end developer, and the best product designer. We are focused on expanding our team further by bringing in experts in branding, marketing, social media, IOS development, and legal.

You can find more Information about Motoverse, in the next links:

Docs:

Pitch Deck

Litepaper

Socials:

X Account

Instagram

LinkedIn

Community:

Telegram

Discord

It is time to Build consumer AppChains and show the Power of polkadot Technology to the world.

Cheers,