Business model: to estimate our financial plan, we have fine-tuned our predictions according to the growth of the NFT sale market and the possibilities for expansion. Due to the uncertainty that still surrounds this market, we have forecast until 2027 in different scenarios: realistic, optimistic and pessimistic. For the calculations, only the realistic scenario has been taken into account, where we expect to have the first project income will come at the beginning of 2023 (once SCENTS reach TRL 9) 22,910 EUR and we estimate to reach 997,647 EUR by 2027, which it would mean having achieved 7% of the NFT sales market within the NFT segment.

Commercialisation strategy

• Phase 1 (2022 – 2023): Once our solution will be successfully tested and piloted in small NFTs marketplaces and digital museums such as HDM and Art.Army – which we already have agreed pilot our solution and we will address to our direct ecosystem created during prototyping phase: ESAT and Baró Gallery have signed letters of Support. 
• Phase 2 (2023 – 2024): Once our solution will be consolidated in small platforms and SCENTS begins to be widely used in our close ecosystem, thus Early adopters have been achieved we will address our efforts to bigger players to cross the Chasm and go for the Early Majority segment, since our revenue model will be fee-based, a critical mass of users will be required in order to obtain profitability from SCENTS so this phase will be essential for the sustainability of the project. Our main target platforms will be:   Opensea Rarible Superrare Mintable, Nifty Gateway and Foundation
• Phase 3 (2024 – 2026): We will diversify our solution and adapt to other segments which are working with NFT and digital identity such as video games/ers; personal branding; influencers; designers, etc. In this sense fashion segment is showing a great acceptance of NFT since some early adopters such as The Fabricant sold their Iridescent dress NFT for around 10,000 EUR. Artist Danit Peleg sells clothing patterns for 3D printers as NFTs. In addition Nike is supposedly working on NFT sneakers that might be released this year. Thus, several markets are widening their approach to NFT and more are upcoming, the opportunities for developing standards according different needs are broad and BlockStart will allow us to deeper understand this technology to adapt it for these needs.

Funding: as a profitable company we blend our finance funding with our own resources and public funding, searching for new opportunities to apply our know-how in different industries, especially those related to sustainability. In this sense it should be noted we are exploring other uses case for applying SCENTS for Green Economy since waste management has similar problems to digital art: track the ownership of each batch residue and increase traceability on its journey to proper identify it has been recycled or landfilled. Therefore, SSI will be highly desired for the involved stakeholders, and we will increase our scope of actions while developing synergic projects in a priori completely different market segments.