Picardy Protocol

A web3 based decentralized protocol for creators

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Inspiration

Our inspiration for building Picardy Protocol is the lack of help given to independent creators, labels & artistes and the need for creators and artistes to be heard while owning their earnings.

Presently, within the independent creator economy, there is little or no knowledge as to how to earn and still fully own your masters and rights. Alongside creators, fans also find it difficult to be involved in the creator economy. These include:

• Creators inability to personally raise funds and own totally rights.

• Creators also find it difficult to get funding while still owning your masters and rights.

• Users/Fans have no way to earn from creators they love unlike other interests.

• Users have difficulty in supporting and connecting to creators.

• Creators inability to keep track of their creator royalties and incomes.

Thus to solve these issues, we built a protocol with a modular framework, which contains functions and features, that are governed by smart contracts.

Picardy Protocol aims to enable creators transition smoothly into web3, through mechanisms governed by smart contracts.

What it does

The protocol functions are divided into factories. They include:

• Creator Tokenization Factory Picardy Protocol allows creation of creator tokens for creators, so their audience, fans and community, can buy and support while getting In Real Life (IRL) utilities.

• Royalty Tokenization

  • NFT Royalty Factory
  • Token Royalty Factory

The protocol allows the artists and creators to create royalty tokens (ERC721 and ERC20 standards respectively), which they can sell a decided percentage of their royalties, of their projects. This makes it possible for fans to earn from holding a percentage of royalties from their favorite person. Using Chainlink External aggregator, we compute royalty data off-chain and send it to the blockchain to get the back creators royalty amount.

• Crowdfunding Factory This is also a function of the Protocol that allows creators to create crowdfund contracts to fund projects or events.

• Vault Factory The Picardy Protocol wouldn’t be complete without the ability to create Vaults. Vaults created are created by the protocol for fund pooling purposes for communities and DAOs.

• Built in Governance Using our Picardy NFT Domains, we create a top level domain for our community members, as a form of identification. This serves as form of proof of humanity during voting processes and decision making. The DAO governs the features implemented within the protocol.

How we built it

Picardy Protocol is built with a modular framework in mind, where the functions and features of the protocol are governed by smart contracts. These functions are easily plugged in and integrated into different platforms or services according to the need of the user. We are currently in this stage of development, as we are looking to finalize the functions of the smart contracts in the protocol and also, being able to give the protocol a visual interface for more practical implementation.

Challenges we ran into

• We had to figure out an efficient method for smart contracts to communicate with each other.

Accomplishments that we're proud of

• Gaining in-depth knowledge on calling smart contracts and blockchain as a whole.

• Building a protocol that can be implemented in various platforms.

• Successfully finding ways to help creators own and earn with web3 using Picardy Protocol.

• Creator onboarding has been made easier with gasless transactions.

What we learned

• Figuring out how it is better to own a top level domain instead of minting creator profiles.

• How to implement the governance structure within the protocol.

• General knowledge of libraries and APIs in various languages.

What's next for Picardy Protocol

• We're looking to integrate the protocol in our music distribution service.

• Fully building out the protocol for developers and creators to create with.

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