Merge pull request #165 from FoundryKev/patch-1

xGov 165: Proposal to build NFT Bridge between Algorand and EVM based networks

Proposals/xgov-165.md

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+---
+id: 165
+period: 3
+title: Messina one Algorand and EVM NFT Bridge
+author: Messina Team Member, Kevin Vernooij (@FoundryKev)
+discussions-to: https://github.com/algorandfoundation/xGov/pull/165
+company_name: Messina One and Algo Foundry
+category: Tools
+focus_area: NFT
+open_source: Yes
+amount_requested: 300000
+status: Final
+---
+
+## Abstract
+Messina.one intends to build an Ethereum <> Algorand NFT bridge by leveraging its existing expertise in the bridging space. Messina believes that enabling native bridging of NFTs between networks helps to grow the domain by opening up various opportunities for creators on Algorand.
+Messina already built and deployed an NFT bridge between Polygon and Cronos and will benefit from the experience and existing in-house technology. Messina also developed a new NFT standard that ensures exclusivity of NFTs and allows for only one unique NFT to ever be alive on chain at the same time.
+The bridge would allow seamless transfer of NFTs between Algorand and all EVM based chains including, but not limited to, Polygon, Ethereum, Base, Optimism, Arbitrum, and Avalanche.
+
+## Team
+The Messina.one team consists of several experienced professionals across the various web3 domains such as development, product management, marketing, and community.
+
+Jonathan Kay, CEO
+A seasoned entrepreneur with a background in decentralised applications, operational support, and transformative ventures.
+
+Mike Knott, CTO 
+An industry expert with accomplishments in transformative change across a number of technology disciplines.
+
+Derine Loke, Product Manager 
+A motivated and results-driven product manager leading cross-functional teams with a zeal in building innovative web3 solutions.
+
+Kevin Vernooij, Partnerships & Community 
+A passionate community builder who spent over a decade in enterprise customer management before taking his expertise into the web3 space.
+
+Chester, Tech Lead 
+Deep knowledge and skill in Web3 development. Proven expertise in guiding teams in creating advanced blockchain applications and smart contracts.
+
+## Experience with Algorand
+Messina.one deployed the first native token bridge on Algorand to connect the network with various other ecosystems. Messina also launched its Algorand Governance Liquid Staking solution with mALGO in September 2023.
+On top of the products delivered by Messina.one, the same team is also the driving force behind Algo Foundry. Algo Foundry on boarded numerous developers to Algorand through its academic interface programs and developer courses, in addition to building products like AlgoSafe.
+The team of Messina.one has been involved with the Algorand ecosystem since its inception and worked closely with the Algorand Foundation on various projects.
+From top to bottom, the team has close relationships with the Algorand community on all levels and led the way through numerous partnerships with many leading Algorand players and founders.
+
+## Present Proposal
+Phases
+1 - Requirement Analysis & Product Design
+Define project objectives and gather stakeholder needs and create the blueprint and architecture for the bridge.
+Estimated Duration: 1-2 weeks
+
+2 - Development, Integration, and Testing: 
+Design, code, and program the solution. Combine various components and conduct rigorous tests for functionality.
+Estimated Duration: 4-6 weeks
+
+3 - Security Audit: 
+Work with a reputable auditor for a thorough review of compliance and security.
+Estimated Duration: 2-4 weeks
+
+4 - Deployment & Launch:
+Implement the project into a live environment and launch the bridge.
+Estimated Duration: 1-2 weeks
+
+Total Estimated Duration: 10-12 Weeks
+Estimated Requirement: 300000 ALGO
+
+*All durations are strictly estimated and may vary.
+
+## Benefits for the community
+By connecting the EVM and AVM (Algorand) NFT ecosystems, Messina.one is enabling further cross chain integration and community growth in the NFT domain. It will give NFT communities in the Algorand space easy access to a greater audience and creators the opportunity to leverage their creative talent to bring new users into the Algorand ecosystem from EVM chains. 
+At the same time it allows NFT projects on EVM chains to explore the superior Algorand network at a lower cost and without spending big resources to launch an entire collection, and instead bridge parts of existing collections to test the waters first.
+Through these benefits it brings more buyers, more traders, and more capital into the Algorand NFT landscape, adding more diversity and creating an altogether more attractive ecosystem for all NFT stakeholders alike.
+
+## Additional information
+None