Momentable

PROBLEM

The fall in traditional revenue streams for museums

Museums traditionally rely on government support, donations, and volunteers, making them financially vulnerable. The global pandemic worsened this issue by reducing tourism, severely impacting museum revenues

In 2020, NEMO research revealed a harsh reality: half of surveyed museums struggled with a devastating 25% to 75% drop in visitors during reopenings

Additionally, around 20% experienced a decline exceeding 75%.

Thus museums worldwide face the daunting task of sustaining operations amidst reduction in its revenue.

Museums Struggle to Stay Afloat

To increase revenue, museums need to adapt by enhancing visitor experiences, leveraging digital platforms, diversifying income streams, and finding innovative ways to remain relevant in a changing cultural landscape.

Our client Next Decentrum is addressing this challenge by innovating museum revenue models through a digital collectibles marketplace built using blockchain

SOLUTION

An innovative NFT based digital collectables marketplace for museums

To improve the revenue stream of Museums and Individual artists, together with our client we designed and developed a digital collectibles marketplace, to empower and enable museums to sell and resell digital artefacts and open up a new, sustainable revenue stream.

Creator Portal: Facilitates art creators in uploading real-world assets, converting them into NFTs/assets, and tracking sales and royalties.

Collector Portal: Allows users to view, showcase, resell, and track proceeds from their collected NFTs.

Storefront: A marketplace where creators and collectors can auction or sell their NFTs.

TECH STACK

METHODOLOGY

01

Smart Contracts for Ownership

Blockchain-based contracts ensure transparent ownership, automated royalties, and secure transactions for museums and artists.

02

Tokenizing Assets with Blockchain

NFT standards on Flow Blockchain enable digitization, provenance tracking, and global access to cultural assets.

03

Marketplace & Auctions

A decentralized platform for buying, selling, and auctioning NFTs with trustless transactions and secure payments.

04

Web3 Creator & Collector Portals

Creators mint and list NFTs, while collectors manage assets with wallet integration and real-time tracking.

05

Automated Royalties & Revenue

Smart contracts enable perpetual royalty payments from secondary sales and auctions, ensuring sustainable income.

RESULTS

A brand new business model for Museums

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Our solution has not only created new sources of revenue for museums in Egypt and the US but has also established a platform for individual artists. For example an artist has used Next Decentrum technology to sell artwork and generate funds to enhance the lives of refugees in Syria, showcasing the potential of digital art and blockchain to have a real impact on society.

"The team at Kocha has played an integral role in helping us get our flagship product from concept to market. They are a great partner to work with, and their commitment to our success has been instrumental in our progress and achieving our most important milestones."

Hussein Hallak

CEO / Founder, Next Decentrum