Assignment 1: Research Project (Parts A and B)
Word limit (not including references):
Part A: Business Plan 1,500 words (+/- 10%)
Part B: White Paper 1,500 words (+/- 10%)
Total Word Limit: 3,000 words
Weighting: 30% (15% for each part)
Students must complete BOTH Part A and Part B by the due date. Part A and Part B are each worth 15% of the total marks for the unit. Together, they constitute 30% of the total marks for this unit.
Part A: Create a business plan for an NFT Art gallery
You and your closest friends have a new business idea. You propose to pool your funds and create an NFT Gallery in the heart of Sydney. It is your plan that the gallery will host some of the hottest NFTs of the year.
1. First, you need to show one of your friends who has no idea about NFTS how to ‘mint’ one on OpenSea. In order to do this you must create an account and open a MetaMask wallet, or connect to an existing Ethereum wallet, and follow the steps to create the NFT. For the purpose of this assessment task, you are not required to actually mint an NFT and pay the gas fees, but take the steps up to that stage.
1. Secondly, you will need to write a business plan for your gallery. Undertake some market analysis to decide which NFT projects you would like to showcase and why, how you will raise money to turn a profit, and a short 5-year plan for the company.
2. Some of your potential investors don’t know how NFTs work, so please also include a section showing step by step how NFTs can be minted online from your experience using OpenSea.
Part B: Prepare an ICO project white paper
Having regard to the characteristics of ICO projects, compose a white paper for an original business idea, which must be different from Part A of this assessment. Include details of the name of the token, how many tokens will be issued, what rights they give to token holders and how people can invest.
For some guidance, look at some examples of white papers. Creativity is encouraged, but please make sure you have a realistic business plan.