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
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:
- 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.
- 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
- Day 0-90: Prospecting properties, site surveys, service planning proposals, tenant surveys, stakeholder meetings.
- Day 90-120: Service Negotiation and Service Commitment
- Day 120-250: Service Installation and Onboarding
- 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
- Business Development
- Engineering
- Marketing
- Sales
- 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
