Grant Request by Bit Hotel

Submission Date
January 21, 2022

Project Links

Website: https://bithotel.io/

Project Description

Bit Hotel is a Social-first Play 2 Earn NFT Gaming Metaverse, in which users will be able to use Bit Hotel tokens to acquire native NFTs and participate in decentralised governance. These NFTs have in-game usability and consist of characters, hotel rooms, furniture and other artefacts that have their own perks. These NFTs consist of varying rarities and can be traded on the open market. Users will be able to meet and chat with other players, compete on our various ever-changing mini-games, and battle their way up the global leaderboard to earn in-game assets. Users will be able to use their rooms to host small gatherings and as their own personal social hub. DAOs and communities will have club houses; in which they can host AMA’s, organise IDOs, and other communal activities. Bit hotel offers users authenticity, anonymity, and the reminiscence of their 8-bit upbringing.

Amount requested
850,000 USD

Milestones

  1. Hire multiple Senior Developers with the task to develop this bridge. - $300000 (yearly) → Delivered within 1 month after grant approval.

  2. Research security risks and requirements for bridging NFTs and Upgradable SCs to Polygon - > $50000 → Delivered within 2 months after grant approval.

  3. Develop beta version for ERC721 compatible bridge from BSC/ERC20 to Polygon - > $200000 - Delivered 6 months after research has completed

  4. (TVL measure) Achieve a bridging volume of 25 million USD in assets.

  5. Develop full version with upgradable smart contract integration and cross chain syncing functionalities. $200000 - Delivered 4 months after beta version is completed

  6. Develop a 3rd party applicable app that allows the bridge to be intergrated into any metaverse. $100000 - delivered 3 months after full version is live.