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EOS Network Foundation Grant Proposal

  • Project Name: The Lost Diamond
  • Team Name: Time2Discover
  • Payment Address: time2discovr (EOS Mainnet)
  • Level: 1

Project Overview

This application is in response to an RFP. (Open application process)

Overview

The Lost Diamond is a real-world P2E adventure race where the goal is to find The Lost Diamond by conquering checkpoints all around the world.

This 90 second intro video will give a good overview: https://youtu.be/3BKr1uY6nZ8

The EOS Mainnet is the only technology platform available that has the requirements needed to make TheLostDiamond race work:

  • Instant transactions to anyone in the world
  • No fees for the users
  • The option to transfer EOS-tokens to Coinbase/Binance to let the users spend the money earned by using a crypto debit card.
  • The most user friendly tools (e.g. Anchor, Port, Bloks.io)

Our team has been involved in EOS since 2018 and we want to contribute to the ecosystem's growth and teach non-tech people how blockchain technology can be used in a fun and educational way.

Project Details

Our team has an ambitious long term commitment to make TheLostDiamond one of the most popular social platforms for outdoor activities, with millions of monthly active users.

150 million people are hunting virtual monsters on PokémonGo. By utilizing EOS, we have the opportunity and advantage to replace virtual monsters with real money in a new real-world adventure game that is fun and exciting for everyone. This is a great way to teach non-tech people about the EOS-ecosystem and the possibilities in web3 applications.

For people to adapt a new technology in mass, it needs to improve their lives by an order of magnitude. It’s not an easy task to motivate non-tech people to create an EOS-account, download and learn how to use Anchor sign-in or create a Coinbase account. It’s a steep learning curve.

TheLostDiamond solves this by having a $1,000 dollar lost diamond as incentive for participating. Also, the concept of a treasure hunt is fun and easy to understand for everyone.

We will take a $7 dollar monthly subscription fee to participate and the smartcontract returns 80-90% back to the Play2Earn model to fund the lost diamonds. A true Web3 application where everyone can create, own and monetize their content.

We are aiming for 1 million users (0.65% market share from PokémonGo) within four years.

TheLostDiamond will be self-sustaining at 5,000 active users per month.

Until we reach a self-sustaining level, we need to fund the $1,000 dollar lost diamonds from sponsors, grants, investors and/or entry fees from other single-event races.

The current value of The Lost Diamond is $440 dollars. The Lost Diamond race is online, if you sign in with Anchor - and if you find The Lost Diamond, you and the checkpoint creator will both get $400 dollars - instantly paid out to your EOS-account.

Our first milestone is to prove that we can onboard participants, that pay a $7 dollar monthly subscription fee, to the MVP and obtain a 22% monthly growth rate over several months. Showing detailed traction is crucial for future funding from e.g. investors, sponsors, ENF and/or Pomelo.

The first $1,000 dollar diamond will be announced in the beginning of May 2022 and will be self-funded.

What is the definition of a participant: A participant that pay a $7 dollar monthly subscription fee to participate in TheLostDiamond adventure race.

What is the current baseline: 0 participants. We have not started marketing.

What is the explicit target number of users given the baseline: First milestone is to get 100 non-tech users to participate.

Then our goal is a 22% monthly growth:

  • Month 1: 100 users + 22% growth = 122 active users per month
  • Month 2: 122 users + 22% growth = 148 active users per month
  • Month 3: 148 users + 22% growth = 181 active users per month
  • Month 4: 181 users + 22% growth = 221 active users per month
  • Month 5: 221 users + 22% growth = 270 active users per month
  • Month 6: 270 users + 22% growth = 329 active users per month
  • Month 7: 329 users + 22% growth = 402 active users per month
  • Month 8: 402 users + 22% growth = 490 active users per month
  • Month 9: 490 users + 22% growth = 598 active users per month
  • Month 10: 598 users + 22% growth = 730 active users per month
  • Month 11: 730 users + 22% growth = 891 active users per month
  • Month 12: 891 users + 22% growth = 1,087 active users per month
  • Month 13: 1,087 users + 22% growth = 1,326 active users per month
  • Month 14: 1,326 users + 22% growth = 1,618 active users per month
  • Month 15: 1,618 users + 22% growth = 1,974 active users per month
  • Month 16: 1,974 users + 22% growth = 2,408 active users per month
  • Month 17: 2,408 users + 22% growth = 2,938 active users per month
  • Month 18: 2,938 users + 22% growth = 3,584 active users per month
  • Month 19: 3,584 users + 22% growth = 4,373 active users per month
  • Month 20: 4,373 users + 22% growth = 5,335 active users per month
  • Month 21: 5,335 users + 22% growth = 6,509 active users per month
  • Month 22: 6,509 users + 22% growth = 7,941 active users per month
  • Month 23: 7,941 users + 22% growth = 9,688 active users per month
  • Month 24: 9,688 users + 22% growth = 11,820 active users per month
  • Month 25: 11,820 users + 22% growth = 14,421 active users per month
  • Month 26: 14,421 users + 22% growth = 17,593 active users per month
  • Month 27: 17,593 users + 22% growth = 21,464 active users per month
  • Month 28: 21,464 users + 22% growth = 26,186 active users per month
  • Month 29: 26,186 users + 22% growth = 31,947 active users per month
  • Month 30: 31,947 users + 22% growth = 38,975 active users per month
  • Month 31: 38,975 users + 22% growth = 47,550 active users per month
  • Month 32: 47,550 users + 22% growth = 58,011 active users per month
  • Month 33: 58,011 users + 22% growth = 70,774 active users per month
  • Month 34: 70,774 users + 22% growth = 86,344 active users per month
  • Month 35: 86,344 users + 22% growth = 105,340 active users per month
  • Month 36: 105,340 users + 22% growth = 128,515 active users per month

Ecosystem Fit

The main goal of TheLostDiamond project is ecosystem growth.

The EOS Mainnet has solved one of the biggest problems in the world - how to transfer money instantly to anyone in the world as easy as sending an email.

The EOS-community needs ambitious projects that can show that advantage to a larger audience.

The EOS Mainnet has 5 millions accounts. Important EOS-projects, e.g. the implementation of the EVM, are targeting the 20 million users in the Ethereum ecosystem. Our target audience is the 150 million users hunting virtual monsters on PockémonGo.

EOS has the opportunity and technology to replace virtual monsters with real money. And the EOS ecosystem needs projects that are targeting non-tech users in an order of magnitude from outside the smaller crypto community.

We are not aware of other similar real-world P2E adventure game projects in the EOSIO or other related ecosystems.

Team

Team members

  • Team leader: Bjørn Omsland
  • Team members: Ann Magrit Monhof, Siv Anne Balslev, Jørn Balslev

Contact

  • Contact Name: Bjørn Omsland
  • Contact Email: bomsland@gmail.com
  • Website: thelostdiamond.io
  • Time2Discover Website: time2discover.no

Legal Structure

Team Experience

We are four creative outdoor enthusiasts from Norway with backgrounds in the travel industry, logistics, project management and programming.

We have hosted several Lost Diamond events in Norway, utilizing the EOS-Mainnet, for more than 1,000 users to test and improve TheLostDiamond race.

Our programmer (Bjørn Omsland) has twenty years experience as a full stack developer and four year experience as a smart contract developer on the EOS-blockchain.

Team Code Repos

Please also provide the GitHub accounts of all team members. If they contain no activity, references to projects hosted elsewhere or live are also fine. N/A

Team LinkedIn Profiles (if available)

Development Status

We have a working MVP that has been used for testing the application in several single-event races in Norway. https://cptblackbill.com/

The smartcontract is located on the EOS-Mainnet account cptblackbill. The code is available at https://github.com/bjornomsland/CaptainBlackBillSmartContract

The frontend is developed in NodeJs and hosted on Google Clouds.

Different single-event races can have different unique domain names. E.g. our biggest single-event race is “Discover Oslo Adventure Race”. We will host our third Discover Oslo Adventure Race on June 11th. https://opplevoslo.app The feedback from our Discover Oslo participants has been exceptionally good. 98% say they will participate in the upcoming Discover Oslo race.

Development, testing and feedback from all the single-event races is the foundation for our main goal - launching The Lost Diamond 24/7 Global Adventure Race. The Lost Diamond 24/7 Global Adventure Race is ready for Test Marketing, where the goal is to find out how many people will participate in a pure crypto-based adventure race and see if we can obtain a 22% monthly growth rate.

Development Roadmap

Marketing Roadmap

The first milestone (2 months duration) is to get a baseline of 100 non-tech people paying a $7 dollar monthly subscription fee to participate in The Lost Diamond adventure race.

Overview

  • Total Estimated Duration: 2 months (for the first milestone)
  • Full-Time Equivalent (FTE): 1 FTE
  • Total Costs: 10,000 USD (for the first milestone. The whole project will take two years and the estimated total need for funding is $500,000 USD)

Milestone 1 — Prove that TheLostDiamond MVP can get a baseline of 100 participants and obtain a 22% monthly growth rate.

  • Estimated duration: 2 months
  • FTE: 1
  • Costs: 10,000 USD
  • Milestone 1 is marketing oriented and as such there is no code to test.
Number Deliverable Specification
1. Marketing Campaign No.1 Diamond No.1 Self-funded. We will add $1,000 dollar to The Lost Diamond and use $500 in marketing. Publish a YouTube-video explaining TheLostDiamond race and how to sign in with Anchor. We will use $1,000 dollar to add 100 x $10 dollar in random checkpoints. Objective: Get monthly active participants. Key result: 10 users pay $7 monthly subscription fee.
2. Marketing Campaign No.1 Diamond No.2 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video explaining explaining how EOS earned in the game can be used with a crypto debit card from Coinbase. Get monthly active participants. Key result: 10 users pay $7 monthly subscription fee.
3. Marketing Campaign No.1 Diamond No.3 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video about hunting the lost diamond. The third YouTube campaign video will show people hunting for The Lost Diamond. Objective: Get monthly active participants. Key result: 20 users pay $7 monthly subscription fee.
4. Marketing Campaign No.2 Diamond No.4 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video about hunting the lost diamond. Objective: Get monthly active participants. Key result: 20 users pay $7 monthly subscription fee.
5. Marketing Campaign No.2 Diamond No.5 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video about hunting the lost diamond. Objective: Get monthly active participants. Key result: 20 users pay $7 monthly subscription fee.
6. Marketing Campaign No.2 Diamond No.6 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video about hunting the lost diamond. Objective: Get monthly active participants. Key result: 20 users pay $7 monthly subscription fee.
7. Marketing Campaign No.2 Diamond No.7 $1,000 is added to The Lost Diamond. $500 dollar is used in marketing. Publish a YouTube-video about hunting the lost diamond. Objective: Get monthly active participants. Key result: We have a baseline of 100 users paying a $7 monthly subscription fee.

Milestone 2 - Get funding for the next ten $1,000 dollar diamonds

  • Estimated Duration: TBA in the next grant application
  • FTE: 1
  • Costs: x USD

...

Future Plans

The market rollout strategy is divided into 24 monthly marketing campaigns. Each with a key result goal of 22% average growth rate.

The main capital of Norway is our starting point with a new $1,000 dollar diamond every week, acting as the main motivation for the users to join the game.

With a 22% monthly average growth rate, the goal is to reach 10,000 monthly users within 24 months. And one million monthly users within four years. The first $10,000 dollar diamond will be added to the game when we reach 5,000 monthly users.

Building trust and success stories around The Lost Diamond brand, will be the most important success factor for onboarding users to a new technology.

We will host public diamond-events around big cities, invite social media influencers and use the traditional media to build trust around The Lost Diamond brand over a long period of time.

Weekly tweets and YouTube videos will be published to promote The Lost Diamond and the eos-ecosystem.

Additional Information

How did you hear about the Grants Program? EOS Fireside chat

After a long period of uncertainty for the eos ecosystem, we are very pleased to see all the positive activity happening in the EOS community.

TheLostDiamond project was included in the first Helios incubator light program. Resulting in a much better pitch deck for our project and a Helios Sunrise interview.

We have also been approved for the Pomelo Season 2. https://pomelo.io/grants/lostdiamond

Our business model has two different versions depending on how our project will be funded:

  • An investor versjon, where a 20% dividend of the revenue is paid out to the investor.
  • A public good version, where all revenue is returned back to the users.

Our project has been self-funded since we launched the first version of the smartcontract on July 2018.