Neo Global Development has accepted NekoHit into the N3 Early Adoption Program. NekoHit, conceptualized in the Neo Frontier Launchpad, aims to bring a crowdfunding model for content creators to the Neo ecosystem.
The NekoHit platform is designed to connect content creators with individuals who can offer funding on a per-project basis instead of the subscription model used by other solutions such as Patreon.
NekoHit’s Work Contract Agreement is a smart contract designed to give both creators and sponsors more control over the crowdfunding process. The sponsors can fund projects using NEP-17 CAT tokens. However, for a creator to request funding, they must also stake CAT tokens. If the creator fails to meet their deadlines, the sponsors can be refunded with the staked CAT tokens.
The NekoHit team is also developing a community DAO token called Nekoin. Nekoin will be used to vote on the direction of the platform, such as allowing creators to change project deadlines.
Commenting on the project, NGD Head of Eco Growth, John Wang, said:
We are impressed by NekoHit’s highly innovative crowdfunding model and adherence to DAO even at this early stage in the project. With the efforts of both parties, we believe that NekoHit can grow to become a mature content creation platform that is recognized and loved by creators and sponsors alike.
The team recently released the first candidate of the NekoHit platform with the initial core features, the Work Contract Agreement and CAT token, and began seeking beta testers. Early testers can use the platform to create or support a project on the Neo N3 TestNet.
According to the roadmap, the development team aims to release v1 of the CAT and WCA contract code, and deploy it on MainNet in Nov. 2021.
N3 Early Adoption Program Details
NGD’s Early Adoption Program has allocated US $10 million in grants for qualified teams and individuals. The goal of the program is to increase overall participation in the Neo ecosystem. NGD hopes that new ecosystem entrants building on Neo N3 can optimize the network through real-world use and testing. Ultimately, NGD believes the program can help establish Neo N3’s infrastructure while simultaneously bolstering awareness.
The NGD team hopes to see a variety of dApp and product ideas, with a particular interest in the following types of projects:
- Infrastructure for the Neo N3 MainNet (i.e., browsers, compilers, middleware)
- Product development based on NeoID, NeoFS, oracles, and other core components of Neo N3
- Application layer uses (i.e., DeFi, NFTs, and general dApps)
- Concepts with business use cases merging physical and digital worlds (i.e., social media, e-commerce projects)
- Regulation-facing use cases (i.e., payment and traditional financial digitization projects)
More information about applying can be found on the Eco Support section of the neo.org website.
The full announcement can be found at the link below:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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