[Ocean Missions] Onboarding Data Professionals for Blockchain Analytics

Name of Project:

Ocean Missions

Proposal in one sentence:

Onboard the first Ocean Missions community members and get the first ‘crew’ working on a data mission.

Description of the project and what problem it’s solving:

Ocean Protocol needs both data buyers and data sellers to function properly, I believe that Ocean Missions can help deliver both.

Ocean Missions is a community of data professionals that will extract valuable insights about NFTs, DeFi and Cryptocurrency from blockchain data and publish the data assets they create on Ocean Market.

Targeting data professionals to provide insights from blockchain data is in line with what I believe is a good go to market strategy for Ocean Protocol based on work completed previously.

While Ocean Missions is a community, it has the potential to function as a Blockchain Analytics co-op through leveraging the unique value of Ocean Protocol and data tokens.

Unlike a regular Blockchain analytics organisation which owns the data assets (datasets and algorithms) you build, the data assets you build while working within the Ocean Missions community are owned by you.

Grant Deliverables:

  • First Ocean Missions community members on boarded
  • An onboarding experience running for new members
  • Discord server with appropriate channels and guidelines for collaboration.
  • First ‘data missions’
  • (hopefully) the first ‘data crew’ working on a data mission
  • I will also continue creating and sharing content to help attract new members to the Ocean Missions community.

Which Category best describes your project?

Outreach

Which fundamental metric best describes your project?

Total Value Locked

What is the final product?

The goal is to build a community of data professionals collaborating to extract valuable insights about NFTs, DeFi and Cryptocurrency from blockchain data and publishing the data assets they create on Ocean Market.

The final ‘product’ from this proposal will be the ‘bare bones’ of this community. It will have the first community members, lead generation content (attracting new members), an onboarding experience for new members, Discord server with appropriate channels and guidelines for collaboration. It will also have the first ‘data missions’ and (hopefully) the first ‘data crew’ working on a data mission.

What is the ROI?

Chainalysis, one of the world’s leading blockchain analytics firms is valued at $2 billion and has 233 staff.

Chainalysis represents both how large this market is, and a potential client of Ocean Missions. Rather than invest in the development of certain data assets they can just purchase them from members within the Ocean Missions community or sponsor data missions themselves.

For the purposes of the ROI calculation let’s assume Ocean Missions can contribute 10 valuable data assets in year 1, 50 in year 2 and 150 in year 3 that would equate to 210 valuable data assets.

BANG: If TVL for each data asset = $10,000 then TVL over 3 years = $2,100,000

BUCK: $20,000

Chance of Success: 3% (expected to increase over time).

ROI: 2,100,000/20,000 x 3% = 3.15

Funding Requested

$20,000 USD

Proposal Wallet Address:

0xE2A4DEd1eB0Bfa8027F1A2eD7E09D72843d6D35a

Have you previously received a grant?

Yes, see go to market analysis and data funnel.

Team Website:

Project website - www.OceanMissions.com

Project twitter - @OceanMissions

Discord - ScottM3

Team lead contact here.

Country of residence:

Bahrain :bahrain:

Team Members

Scott Milat

  • Enterprise business development, contract negotiations and sales
  • Entrepreneurship
  • Software product development
  • Communications and Marketing
  • Linkedin
  • Professional Website

Roadmap

I want to turn Ocean Missions into the most valuable blockchain analytics ‘organisation’ within Web3. Leveraging the incentive structures implemented within Ocean Protocol I think this could be possible.

There will likely be revenue opportunities in the future which would help make Ocean Missions financially self-sustainable but for now it’s being incubated with DAO grants. For this reason it’s likely that future grants will also be submitted until financial self-sustainability is achieved, alternative funding is found, or the Ocean DAO community no longer sees value in the project.

Additional Information

A financial summary for Ocean Missions can be found here.

I am also active part-time as an adviser for Rugpullindex.com

4 Likes

Hey Scott, I would like to contribute to the project as an advisor/contributor. I have 15 years of experience in Analytics and Visualizations, and could support the development of blockchain analytics. Saw your pitch on the townhall and quite keen to follow your progress.

2 Likes

Hey Cipher, that would be awesome! What’s the best way to connect? Are you on Discord?

1 Like

Hey @Scotty, I love the idea! To me this looks like a data union in the making.
Do you have a concept on how to collect + co-own all the data in a dataset owned by the community and how to make co-ownership of the additional insights as well as algorithms on top of the data? And later the fair royalty distribution to the contributors when the data assets get sold.

If you want to know how we conceptualised all of this for scalable communities aka DataUnions, I would love to discuss these concepts further. We are building a technology template to help others to not spend time on solving these problems in their data collaborations but focus on building communities and data assets instead.

3 Likes

Hi Robin thanks for the positive feedback!

To answer your question, the current plan is to leverage as much of the core functionality of OP and Ocean Market as possible but having said that I’m sure there will be a number of challenges to overcome such as the ones you’ve pointed out and it wouldn’t make sense trying to solve them twice.

I would love to learn about how the data union software could help data teams within the Ocean Missions community going forward.

1 Like

Hi Scott,

As briefly discussed on Discord, we’d like to be a part of the process. We are interested to post a data bounty rewarded with $OCEAN for an API that can give us on-chain insights to Data Tokens offered on the Ocean Marketplace (sales revenue, number of sales, average sales price and much more!).

Good luck with your (Ocean) Mission. You’ve got our vote and talk soon!

1 Like

Thanks @realdatawhale looking forward to it! :tada:

Hi Scott, this is an exciting proposal. You have my vote and I’m also interested in potentially contributing to the project and community – I have 10+ years experience in Data Science and a network of professionals across the DS/Blockchain spaces.

Just one question, how do you estimate the TVL of a data asset? I get that this maybe just a back of the envelope calculation but I’m interested in understanding what logic people use in general.

1 Like

Hi @davidecrapis.eth thanks for getting in touch, it would be great to connect and learn more. I’ll send you a message through port and we can connect offline.

Regarding ROI, the TVL is very much a back of the envelope calculation and as the project matures I hope the ROI calculation can become a lot more robust while remaining positive.

Here’s the logic for now though. Currently, the TVL on ocean market is 4,426,890 EURO across 461 asset pools. 4,426,890/461 = 9,602 EURO or $11,099 USD. The spread is definitely skewed and we are in a market that’s in its infancy so this is a pretty rough measuring stick.

That said I simply make an assumption for the ROI calculation that the data assets created within the Ocean Missions community will be pretty good and hopefully above average. I took the mean of what’s out there currently as a guide, then just used 10k USD because it’s a simple number and I’d rather see a positive ROI with a lower end estimate e.g. ‘better than average data assets (from the perspective of a Web3 staking audience)’ with ‘lower than average TVL per data asset’.

Will be in touch :+1:

1 Like

Hey Scott,

We just submitted our vote for this proposal and good luck. Looking forward to more collaboration and come visit us in Dubai!

If you have time, go ahead and review our Proposal on the Port. Let us know whether you have any comments.

Cheers,
Data Whale

1 Like

Absolutely going to support this one. Thanks a lot for the nice proposal.

1 Like

Thanks @realdatawhale really looking forward to it and will be supporting your work too. Some great numbers coming through from all your outreach activities.

Thanks so much Kai :raised_hands: