Upcoming DGSelf SNS decentralization sale

Governance SNS Project Governance
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Hello Community,

We are thrilled to introduce DGSelf, an innovative interoperable avatar platform set to transform the digital identity landscape. DGSelf is a gateway to seamless digital self-representation and ownership across various metaverses, games, and vTubing environments.

Welcome to the Future of Digital Identities!

The digital world is evolving at an unprecedented pace, and with it, the need for versatile and secure digital identities. DGSelf is here to address this need by offering a comprehensive solution for creating, customizing, and managing avatars. Our platform ensures that digital identity is not just another asset but a fully integrated and secure part of online presence.

The Problem

Despite the rapid growth and profitability of the avatar marketplace, many platforms remain entrenched in the limitations of the Web2 ecosystem. These centralized systems can lead to significant issues around control, security, and interoperability of digital identities. As our virtual environments expand, so does the need for a more robust solution that can handle the complexities of digital identity management.

The Market Opportunity

The avatar market has seen remarkable growth in recent years. Consider the following:

  • Fortnite generates over a billion dollars annually, primarily from skin sales.
  • 75% of players would spend more on skins if they had a monetary value outside the game.
  • Users are willing to pay 20% more for cryptocurrency-based skins .

Source: Venturebeat

Furthermore, significant investments in the avatar market underscore its potential:

  • Genies raised $150M on April 12, 2022.
  • Ready Player me raised $56M on Aug 23, 2022.
  • Ready Player me works with 10,000+ developers and has 30M+ addressable player base.

Source: Crunchbase

The market for digital avatars is set to grow significantly, with a compound annual growth rate (CAGR) of 50%, greatly surpassing even the popular AI sectorā€™s growth rate. From 2023 ($18 billion) to 2030 ($270 billion), the potential for digital avatars is immense.

Source: Grandviewresearch

Our Solution: DGSelf on ICP Blockchain

DGSelf leverages the cutting-edge capabilities of the ICP blockchain to offer a decentralized platform where:

  • Creators can mint and sell digital assets, such as clothing and accessories for avatars.
  • Consumers can purchase, customize, and securely store their avatars and associated assets fully on-chain.
  • Avatars and assets can be seamlessly utilized across various open metaverses, games, and for vTubing, ensuring true interoperability.

We already have a product proof of concept. Despite ā€˜Union Avatarsā€™ being newcomers in the avatar industry and having secured $1.5 million in funding, our platform already matches their functionality by allowing users to customize avatars, purchase them with our TEST DGSLF tokens, download .vrm files, and use them in popular metaverses. You can easily test our avatars by dragging and dropping them into 3D environments like www.oncyber.io
Check out the video showcasing these features in this Twitter post

Our Team

Our experienced team is the driving force behind DGSelf:

Roadmap and Future Development

Post the SNS decentralization sale, we plan to utilize the funds to enhance our platform further. A significant focus will be on supporting user-generated content (UGC), a feature proven to increase engagement and valuation. The popularity of UGC in platforms like Roblox and Minecraft highlights its potential. By enabling UGC, we expect to attract a substantial number of creators and users, greatly benefiting the entire ICP ecosystem and promoting mass adoption.

Upcoming DGSelf SNS Decentralization Sale

We are excited to announce the upcoming DGSelf SNS decentralization sale, a key milestone in our journey to revolutionize digital identities. This event presents an incredible opportunity for early adopters and supporters to be part of a groundbreaking project that is poised to redefine how we interact and represent ourselves in digital spaces.

Links and Resources

Pitch Deck
Whitepaper
Github
sns_init.yaml

Follow us at:
OpenChat
Discord
Twitter | X

Call to Action

ā€œThe secret of getting ahead is getting started.ā€ - Mark Twain

We invite you to join us in this exciting venture. Your feedback, questions, and support are invaluable as we continue to develop and refine DGSelf. Participating in the SNS sale means you can grow your investment significantly, with our product set to launch globally at the beginning of 2025.

Letā€™s shape the future of digital identities together!

Feel free to ask any questions or share your thoughts. We are here to listen and engage with the community.

Best regards,
The DGSelf Team

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Check out true metaverse and interoperability in action:

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If you missed it, hereā€™s our proof of concept, which is already on par with other avatar platforms funded with millions, like newcomer ā€œUnion Avatarsā€ (funded with $1.5 million).
In our POC users can customize avatars, purchase items with TEST ā€œDGSLFā€ tokens, download .vrm files, and use them in popular metaverses like www.oncyber.io.

Check out the video showcasing these features in this Twitter post

Test it yourself at www.DGSelf.com.

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Weā€™ve completed the R&D for 3D model minting and displaying as NFTs using new standards (ICRC-7/37/3).
After the upcoming SNS sale decentralization, weā€™re ready to focus on 3D interoperable avatars!:fire:
3DnftPoc

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Here is the video showcasing WIP of 3D NFTs Embracing ICRC-7/37/3 Standards! :fire:

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Exciting News! Weā€™ve kickstarted our SNS registration proposal :rocket:
Proposal 131375 / NNS Dapp (ic0.app)
Join us on this revolutionary journey! :fire:

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Thanks for the announcement. Would you be able to offer a brief summary of what the motives are for holding DGSelf tokens? What can you do with them and/or what do they do for you?

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Hi @Lorimer ,

Thanks for your interest. Hereā€™s a brief summary of the benefits and use cases of the DGSelf (DGID) token for all types of holders and users:

For Token Holders/Investors: Owning DGID tokens will be beneficial as the avatar market has a CAGR of 50%, even more than AI (Source: Grandviewresearch). As the project launches for public adoption next year Q1 and user engagement grows, the token value is expected to rise, offering significant benefits to all token holders.

For Asset Creators: The platform provides a new opportunity to monetize creations. Creators can use tokens for:

  • Advanced tools for creating and minting on-chain avatar assets
  • Advertising and promoting assets on the marketplace
  • Facilitating cross-platform asset migration
  • Accessing enterprise-grade features and technical support

For Users: Tokens can be used for:

  • Purchasing avatar content, such as clothing and accessories
  • Upvoting and highlighting exceptional assets, contributing to community-driven rankings
  • Gaining early access to new features
  • Participating in VIP events and community contests

In summary, holding DGSelf tokens offers governance rights, deep platform integration, and access to a range of premium features for both creators and users, driving engagement and community growth.

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Thanks @Temo_Koki, are you able to elaborate on how this translates into significant benefits for holders / what those benefits are? Iā€™m trying not to make assumptions or read between the lines.

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As the DGSelf platform matures and the value of DGID tokens rises due to growing interest in the avatar market and increased user engagement, the initial investment of token holders will also grow. As mentioned above, this market has huge growth potential, and early adopters in the avatar market will see increased profit, especially in the field of web3, which provides liquidity and more utility to digital assets outside of closed 3D environments. Users are increasingly interested in and willing to purchase such assets. There is research mentioned in the provided pitch deck that supports this point, highlighting the strong market demand.

If youā€™re looking for specific reasons why our platform will gain popularity and want more technical details, let me share that we already have a proof of concept (POC) for a 3D avatar customization system. Users connect via internet identity or NFID, and theyā€™re rewarded with ICRC-2 tokens. These tokens can be used to purchase 3D items for customizing their avatars. They can then download their avatars and use them in any metaverse or game that supports .vrm files, which is a standard format supported by platforms like popular oncyber and VRChat with millions of users.

Our current POC is already on par with other avatar systems that have received significant funding, demonstrating the true potential and demand in the avatar market.
You can test it yourself our our website: DGSelf.com
Or check the recorded video: DGSelf POC

We have also done R&D on minting and displaying 3D NFTs using ICRC-7/37/3 standards, which weā€™ve shared on GitHub (DGSelf 3D NFT POC). Additionally, we have worked on other full-stack open-source projects over the past year and we come from a background in gaming and 3D environments with many years of experience. So, technically, Iā€™d like to assure everyone that our team has the extensive experience needed to make this product a success.

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It all sounds exciting. My question was less about the potential for DGSelf to be successful and more about how that potential success would benefit DGID token holders (sorry if I missed that detail somewhere) :slightly_smiling_face:

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Thank you for your question and enthusiasm!

The success of DGSelf will indeed benefit DGID token holders in multiple ways. The product is designed to bring a lot of new users to the ICP ecosystem, even those who are not familiar with ICP or blockchain technology, and just want to truly own their digital assets and express their digital identity. This includes users like vTubers and gamers, which represents a huge market and potential. Those who want to get more involved will quickly realize how technologically advanced the ICP ecosystem is, capable of serving fully on-chain dApps with such an advanced and feature-rich product, which gives power back to the users, making their assets more liquid, valuable, and secure automatically.

The popularity of such a commercialized product, along with the need to own DGID to use the service, automatically will increase the visibility and attractiveness of the ICP token and DEXes. So, in short, it will be beneficial for the entire ICP community and especially for the owners of our product/token.

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Thanks @Temo_Koki, this is the piece of information I was missing. Iā€™ve scanned through the whitepaper now and found the token utility section. Can I ask how many of these features are implemented, and how many are yet to be implemented? This seems important, given that users would be acquiring these tokens during the sale specifically to use these features.

Can I ask why DGSelf is seeking to decentralise now (i.e. why not 6 months ago, or 6 months or a year down the line)?

Presumably theseā€™s no yield generated from holding these tokens. Are you able to share information about how platform revenue would be used?

Thanks again.

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Hi @Lorimer ,

Thank you for diving into the details and reviewing the whitepaper. As mentioned earlier, we have several base systems in place that are crucial for our platform. These include:

  • 3D NFT (ICRC-7/37/3 standard) Minting and Displaying: Proven with our POC.
  • Functional Web Page: Users can log in via Internet Identity or NFID.
  • ICRC-2 Token integration: Airdropping for new users and purchase functionality.
  • Avatar Customization: Users can customize avatars and download them in .vrm format, widely supported in gaming and the metaverse ecosystem.

Our next steps involve gathering these POCs, polishing them, and bundling everything into a production-ready version. The primary focus will be on developing a fully functional and appealing web platform for creators to mint and list their 3D assets as NFTs. Following this, we will focus on consumer functionalities, such as advanced searching, sorting, pagination of NFTs, and the ability to check them in 3D directly on their avatar before purchasing. These features should be ready this year, but to ensure thorough testing, code auditing, and security, we estimate the platform will be ready for a wider audience by Q1 of next year as mentioned in our roadmap in whitepaper.

Decentralization Timing: Initially, we spent time learning and researching the ICP ecosystem and doing open-source projects to gain the experience. After a year of engagement and understanding, we now feel ready to tackle these challenges and ensure the productā€™s success. Given the recent surge in interest in the avatar market, waiting another year or even six months might be too late. There is no other 3D avatar customization system which assets are stored fully on-chain as other blockchains canā€™t offer that functionality like ICP ecosystem, but we still need to move quickly to be competitive and attract more users early to make the product/DAO more profitable.

Token Yield and Platform Revenue: Currently, there is no direct yield from merely holding tokens. However, tokenholders will benefit from staking, similar to other SNS projects:

  • Maximum Neuron Dissolve Delay: 2 years
  • Maximum Dissolve Delay Bonus: 2x
  • Maximum Age for Age Bonus: 1 year
  • Maximum Age Bonus: 1.25x

We also plan to buy back and burn some DGID tokens to increase demand and potentially raise the token price, benefiting tokenholders. Additionally, we might consider airdrops or rewards for active DAO governance members to acknowledge their contributions. However, these scenarios should be decided collectively as a DAO, which is why they havenā€™t been finalized yet. We intend to propose ideas that will benefit early supporters and remain collaborative and attentive to DAO member needs.

Platform revenue will be transferred to the DAO treasury, which will be used for:

  • Development: Enhancing and expanding platform features.
  • Marketing: Attracting new users and boosting adoption.
  • Community Incentives: Rewarding and engaging the community.
  • Operational Costs: Maintaining and supporting platform operations.

Thank you again for your interest and support.

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The repository seems to have limited code at this stage. Could you please elaborate on your development thus far?

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Hi @jennifertran ,
Thanks for the question.

I agree that the current project has minimal backend code, but substantial work has been done on the 3D and frontend aspects to ensure the avatar system is fully functional and compatible with interoperable avatar standards, which is crucial for this product. Our POC (available on our website) includes user registration, token rewards for new users, item purchasing, and customizable avatars compatible with various metaverses and games. The POC is already on par with other well-funded platforms, albeit with fewer 3D assets, but the essential features are already in place.

We have also conducted R&D to better understand the ICP ecosystem, with a 3D NFT project shared on GitHub as part of our research. I will be responsible for full-stack development, and my GitHub profile showcases my ICP works, including a 2D image NFT Marketplace and the Wheel of Fortune project, which is included in the ā€œawesome internet computerā€ list too.

In short, the work completed so far has focused on R&D across different aspects. The next steps involve integrating these components into a polished, fully functional product.

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Thank for your response.

We appreciate all the great work you have done to bring this to market. Upon further review of the Github repository, we believe the current state of development is too early for requesting a Neuron Fund contribution. Please see our voting guidelines

At this time DFINITY would reject this proposal.

You are welcome to resubmit the proposal by removing the Neuron Fund request or alternatively, submit the proposal once substantial progress has been made.

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Thank you @ld-dfn1 for your feedback on my proposal and for recognizing the efforts invested.

I understand the concerns raised about the development stage of our project. However, I would like to clarify a few points that might help in reconsidering the proposal:

  • Funding Request and Community Support: We are requesting a minimum contribution of 20,000 ICP. This amount represents a modest request from the Neuron Fund, contingent on community support. If the community commits more than 20,000 ICP, it demonstrates their appreciation and value for our project. Isnā€™t the Neuron Fund designed to support projects that are valued by the community? If our project gains significant community backing, it aligns with the fundā€™s purpose to support promising initiatives.

  • Transparent and Honest Submission: Unlike previous proposals that may have faced rejection due to incorrect configurations, lack of transparency, or missing product or GitHub repository files, we have provided all necessary information upfront and the current state of our development. We have a fully functional prototype and significant R&D efforts that demonstrate our commitment and progress.

  • Active Involvement: I have been an active member of the ICP ecosystem for over a year, actively researching and developing various ICP projects. This proposal continues my dedication to building a valuable product on the ICP platform.

  • Request for Reconsideration: Given our transparency, progress, and the nature of our funding request, I kindly request that you reconsider the rejection. Instead of rejecting the proposal, could you please consider abstaining from the vote? A rejection could potentially harm the perception of our project among other community members, who might misinterpret it as indicative of bad intentions.

We are committed to proving the value and dedication of our team to the project. I firmly believe that our project has the potential to significantly contribute to the ICP ecosystem, and I am eager to demonstrate this through continued development and engagement.

Thank you for your consideration. I look forward to your response and hope for an opportunity to prove the value of our project.

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We certainly appreciate your response.

Please do consider that DFINITY may not be able to deviate from the guidelines otherwise it defeats the entire guideline process. It is clearly articulated that for the teams that seek the NF contribution must have demonstrated substantial progress at the time of submitting their proposal. At this time the progress isnā€™t sufficient (based on the Github repos presented to the community.

As we mentioned earlier you are welcome to resubmit without seeking NF contribution

Here is an excerpt from the guidelines:

Asking for ā€œICP Community Fundā€ contributions

We have heard some projects refer to the ICP Community Fund as being ā€œourā€ money. This is a misconception that derives from the name of the fund, which we should change asap. The funds that the NNS can contribute to SNS decentralization swaps entirely derive from neurons owned by private individuals, whose maturity is being risked. Those private individuals are not giving away their maturity, they intend to contribute it to SNS DAOs that have a solid chance of success ā€“ it is not a grants program, or a charity in any way whatsoever (it would better be named the ā€œNeurons Fundā€ to prevent these misconceptions).

Therefore, the more funds that an SNS/decentralization swap proposal demands from the ICP Community Fund, the higher the bar should be for acceptance. If a proposal asks for nothing from the fund, such that funding becomes entirely up to the free will of those participating in the swap, then the bar should be much lower imo.

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Thank you for your feedback @ld-dfn1
I understand and appreciate the importance of adhering to DFINITYā€™s guidelines.

I acknowledge that our progress may not yet meet the required standards for the NF contribution based on our GitHub repositories. We will take this opportunity to enhance our projectā€™s development and demonstrate substantial progress before resubmitting our proposal.

We appreciate the guidance provided and will focus on strengthening our project to meet the expectations and criteria outlined.

Thank you again for your consideration and support.

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