AIP-443: BoredWiFi - Linking web3 communities to IRL communities to bring them faster more affordable internet

PROPOSAL NAME:

BoredWiFi - Linking web3 communities to IRL communities to bring them faster more affordable internet

TEAM DESCRIPTION:

  • Michael Cohen - Owner of Generic WiFi, Former Educator, Consultant, Startup Founder and operator, Ape 5043
  • Worked in EdTech for the past 15 years helping schools develop business programs and startup incubators. Founded the Ed3DAO, the first web3 education project in 2021 which received funding from the ApeCoin DAO community through AIP-104. In 2023 I started Generic WiFi, a company focused on bringing high speed internet to multi-dwelling buildings.

www.linkedin.com/in/thetechrabbi

Generic WiFi LLC
1065 SW 8th St. #2023
Miami FL, 33160

DUNS: 13-133-5095

www.genericwifi.com 1

Generic WiFi Service Deck

PROPOSAL DESCRIPTION:

Everyone needs the internet. Not everyone can afford the cost of the internet that can provide them the maximum opportunity that the internet has to offer. Anyone can get on the internet. That isn’t the challenge. What does DAILY, HOURLY, BY THE MINUTE internet look like for you? If you have ever tried to mint an NFT, do a last minute stock trade, buy concert tickets, or even cop on the SNKRS app for once, Fast internet matters. While you can get high speed fiber in most major city centers there are communities that don’t have it because Internet Providers don’t want to cover the last mile construction or the cost to wire a building that won’t start 100x-ing their return in 48 months.

That is where the Bored Ape and ApeCoin DAO community comes in - Web3’s entire ethos is on democratizing access and opportunity and making wild crazy decisions to expand how web3 changests the world. Without the Internet there is no web3. While this is not the place to discuss at length, the regulations and corporate greed that locks out Americans from regularly accessible fast internet is what web3 was made for!

Let’s democratize the internet!

Generic WiFi works with multi-dwelling buildings and planned communities to help them get access to high speed internet. Generic WiFi is a direct partner with all national and local Internet providers for any location in the US as well as hundreds of other technology service providers.

Our core team is based in Florida and our existing portfolio has shown us that while a 300 unit condo in West Palm Beach or a 500 unit planned community in Hialeah can get an Internet Provider to invest $650,000 in upfront capital to deploy wiring and network installation, you wont get that on a 100 unit condominium in North Miami or a mobile home community in Homestead.

I think it is important to note the roots of Crypto and the BAYC in Miami, which includes philanthropically supporting Miami underserved schools.

Service Location Focus: Greater Miami Area (Including North Miami, Hialeah, Homestead)

BENEFIT TO APECOIN ECOSYSTEM:

  1. Return on Investment: The money used by the AIP to invest in delivering fiber to the projects customer will bring a monetized return to the DAO paid quarterly in the agreed upon currency. This is paramount to the DAO, it must seek out ways to leverage the creative power of ApeCoin holders and especially BAYC and MAYC members that can bring revenue to the DAO.
  2. Social Good: If the big Internet companies won’t bring the internet to everyone why can’t Apes? This AIP will bring internet to buildings that can’t afford the construction to get internet in their building. This democratizes not just who gets online but where and when they get online.

DEFINITIONS:

Greenfield - New Construction

Brownfield - Existing Building

DIA - Dedicated Internet Access - This refers to a prioritized fiber connection to the data center.

MDU - Multi-Dwelling Unit - A residential or commercial building with multiple individual tenants renting or own units.

STEPS TO IMPLEMENT:

The project goal is to service 420 units by the end of the 340 day mark. This includes identifying properties, getting service solutions approved, installed, and service started.

Generic WiFi already services locations. Quite a few projects have had to be paused because of the high cost to deploy services and still generate a reasonable ROI on the investment and continued management.

Project Milestones

  1. Day 0-90: Prospecting properties, site surveys, service planning proposals, tenant surveys, stakeholder meetings.
  2. Day 90-120: Service Negotiation and Service Commitment
  3. Day 120-250: Service Installation and Onboarding
  4. Day 300-340: Service Activated and first customer bills processed.

To achieve this goal it takes a team of 5 to operate and Generic WiFi via the BoredWiFi brand are seeking ApeCoin funding to fund the cost of these projects with a dedicated team for 1 year to get the service scope deployed and providing internet to users.

Team Requirement

  1. Business Development
  2. Engineering
  3. Marketing
  4. Sales
  5. Customer Success

The cost to run this team is is $16,000 a month

Project goal for 1 year from fund date is to have deployed high speed internet service to 420 units at a cost of $1,309.52 per unit. This project will then be at a point where it can generate enough revenue to cover the initial capital cost and the continued operational costs of maintaining the system.

REPORTING EXPECTATIONS:

Each milestone data above can have an email update on the progress of the project. I will be available to speak with community members through any of the various means to keep them involved and possibly grow the project. I propose that the funds be distributed in quarterly amounts with a P&L statement that shows how funds were allocated and invested in the committed project. So in short I wont be using funds for business class flights or LAMBOs. But Wen Lambo?

OVERALL COST:

Total amount requested from the ApeCoin Ecosystem Fund = $550,000.

I am requesting $550,000 in Ape Coin which will give the ApeCoinDAO a 20% revenue share on the doors serviced from the funds. Funds will be located in a separate account and only be used for projects under the BoredWiFi brand.

For Managed WiFi solutions it cost roughly $1,300 per door to deploy services. This includes the wiring from the street to every internet access point, and the hardware needed to deliver reliable fast internet.

Funding will service 420 doors at a cost of $420,000 to install and maintain service with $128,000 for operations. This includes a price point averaged between $12/foot for Aerial and conduit run wiring up to $22/foot for trenching when required. This number includes all costs of wiring, continued maintenance, personnel, machinery, switches, network switches, GPON, and other hardware.

You can see all the financial breakdowns below. ApeCoin DAO makes 20% in rev/share annually totaling $13,920 annually totaling $139,200 over 10 years which is the average span for these bulk service strategies. The DAO will receive revenue for the lifetime of the internet services provided at each location.

Generic WiFi has priced out the internet at the lowest point possible to deliver internet speeds that exceed the State Average set by Ookla. United States’s Mobile and Broadband Internet Speeds - Speedtest Global Index

Financial Model

Hi @thetechrabbi.eth,

The community feedback period for your proposal would be ending in roughly 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi @thetechrabbi.eth,

Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions].

A moderator will reach out to the author to finalize the AIP Draft using the appropriate template.

  • Once the AIP Draft is confirmed by the author and meets all DAO-approved guidelines, it will receive an AIP ID number and move forward for Draft Analysis Review.
  • @thetechrabbi.eth please see your messages for the next steps.

Follow this Topic as further updates will be posted here in the comments. In accordance with DAO-approved guidelines, if the author does not respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea.

-@Facilitators

This topic was automatically closed after 7 days. New replies are no longer allowed.

Hi ApeCoin DAO Community,

@thetechrabbi.eth has completed editing their AIP Idea to be their AIP Draft.

This proposal has been assigned the AIP ID Number 443.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

Hi ApeCoin DAO Community,

Edits have been made to this Topic, by the author, by the author’s request, or with the author’s consent.

You can click the Pencil icon at the top of the post to see these edits.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators

If this can create an ROI why don’t the telecoms companies do this themselves? Won’t some users just use their mobile for internet access or mobile hotspot or mobile based router.

How do you determine the revenue of 16,800 USD?

If monthly profit is 5,800 then it will take approx 100 months to return the initial investment, not accounting for the interest cost.

If ApeCoin gets back 139,200 of the 550,000 that is asked. So in the best case scenario you are asking for a charitable donation of 410,800.

Btw I think there is a distinction between social good, say for the ecosystem, like Boring Security and something which really is not related charity.

After all I am now using my phone as a hotspot to my laptop writing now at no impact to me participating in the ApeCoin Dao.

Imho, I offer tough feedback, as I hope it can help authors refine their ideas so there is a more higher chance for their AIPs to pass.

3 Likes

These are all great questions. See my answers inline below:

If this can create an ROI why don’t the telecoms companies do this themselves? Won’t some users just use their mobile for internet access or mobile hotspot or mobile based router.

Our company currently brokers deals between 10 national and regional internet providers for properties in Florida. Telecom companies currently don’t want to invest the capital expense for installation fiber to the home. The cost is around $1300. I get turned down regularly from providers for location service requests because the market in that area cannot afford $80+/mo. internet. So if you can only afford $40 should you have slow internet? Well the answer is yes. So the only option is to build a division that is focused on partnering with organizations like DAOs to fund the social good of getting everyone fast internet and help offset that cost and then bring in providers to service the location in bulk which we will manage.

How do you determine the revenue of 16,800 USD?

420 units serviced at $40/mo. is $16,800. There will be a ramp up time as we onboard all the tenants which is why I have the year long breakdown from when project is initiated. The $40 cost was chosen to be affordable for workforce communities. We conduct tenants surveys which you can see attached as well.

If monthly profit is 5,800 then it will take approx 100 months to return the initial investment, not accounting for the interest cost.

109 months is our current working model. I have updated the financial model in response to your question below.

If ApeCoin gets back 139,200 of the 550,000 that is asked. So in the best case scenario you are asking for a charitable donation of 410,800.

Btw I think there is a distinction between social good, say for the ecosystem, like Boring Security and something which really is not related charity.

*I appreciate this feedback. Here is an updated model to consider. This will pay back the full loan and continue to give a profit share to the DAO for backing BoredWiFi.

Service Count:420
30% Profit Share + Payback Plan
30% Profit Share
Payback Term: 9.1 years

Payback Plan

  • $40/user Monthly Revenue: $16,800/mo.
  • Operational Expenses: $11,000/mo.
  • Net Profit: $5,800/mo.
  • Revenue Share to ApeCoin DAO (86.2%): $5,000 per month
  • BoredWiFi Profit: (13.8%) $800 per month

Post Payback Plan

  • $40/user Monthly Revenue: $16,800/mo.
  • Operational Expenses: $11,000/mo.
  • Net Profit: $5,800/mo.
  • Profit Share to ApeCoin DAO (30%): $1,740/mo.
  • BoredWiFi Profit (70%): $4,060/mo.

After all I am now using my phone as a hotspot to my laptop writing now at no impact to me participating in the ApeCoin Dao.

*There are 18 million Americans alone that do not have access to internet. 2.6B globally. I hope wireless solves this quickly. We are working with SBA communication on wireless solutions but there is a limit what you can do with 5G mobile when you think of web3 future tech, gaming, and immersive and smart technologies that a mobile hotspot alone not to mention the challenges of multiple users using a single hotspot. We do location market research to understand the needs of tenants and we see the divide and struggle between those with fast internet and those without.

Just a side note my inspiration for founding Generic WiFi was seeing the photo on the internet of those kids during COVID sitting outside a Taco Bell trying to do some stupid school assignment. If a kid has that kind of dedication imagine if they access to the internet on a daily basis.*

Imho, I offer tough feedback, as I hope it can help authors refine their ideas so there is a more higher chance for their AIPs to pass.

Thank you BigBull. You are very active here and your feedback is valuable.
GenericWifi-Report-Sample.pdf (8.5 MB)

1 Like

Hi ApeCoin DAO Community,

Our team has reviewed and discussed @thetechrabbi.eth’s AIP Draft and have sent a list of initial questions. We await answers.

Follow this Topic as further updates will be posted here in the comments.

Kind Regards,

-@Facilitators