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

Excited to share the following proposal. I am grateful for future feedback and partnering with the community to bring high speed internet to communities in need!

PROPOSAL NAME:

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

TEAM DESCRIPTION:

Provide a brief description of yourself, any co-authors, and your team.

  • 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

Generic WiFi Service Deck

If you’re seeking funding, each team member set to receive funds would be expected to separately sign a grant agreement and undergo KYC verification before funds are released.

PROPOSAL DESCRIPTION:

A summary outlining your proposal. This section would be showcased on Snapshot for the community’s consideration and should effectively communicate key details about your proposal.

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. With that said Generic WiFi can deliver the service proposed in this AIP to any community in the US!

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 DOA, 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 DOA.

  2. Social Good: If the big Internet companies wont 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. The government’s ACP bill lowered

  3. ApeCoin/ApeChain Incorporation: I can’t details atm, but just note that this is on our mind. There are a lot of things I learned from being an early adopter of Helium which I thought would end up doing what I am proposing to do in this AIP.

DEFINITIONS:

Define any words or phrases within your submission that are unique to the proposal, new to the APE Community, and/or industry-specific.

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:

Outline the steps to implement your proposal.

  • Include the project’s start and end dates.
  • Identify any milestones and key performance indicators.
  • Detail any associated costs, personnel, and platforms needed for each step.
  • State any requests directed to the APE Foundation for each step.

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 $38,000 a month.

Project goal for 1 year from fund date is to have deployed high speed internet service to 1,000 units at a cost of $1,000 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.

OVERALL COST:

Present your grant request using the following format:

“Total amount requested from the ApeCoin Ecosystem Fund = $1,420,000.”

  • Include any additional requests that are directed towards the APE Foundation, especially concerning the community discussion platforms, website, or Snapshot.
  • Provide a summary of the total budget.
  • This section will be visible to voters on Snapshot.

I am requesting $1,420,000 in Ape Coin which will give the ApeCoinDAO a 10% 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. I am opening based on the cost and financial models to adjusting the project cost to $420,000 in ApeCoin in line with Capt. Trippy’s current AIP as well as funds being distributed in a quarterly basis.

For Managed WiFi solutions it cost $1,000 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 1,000 doors at a cost of $1,000,000

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, continue, personnel, machinery, switches, network switches, GPON,

You can see all the financial breakdowns below. The 1.42M investment will be recovered after year 4. ApeCoin DAO makes a 10% return on day 1 of service which based on financial projections will net roughly $150,000 back to the DAO from the 10% stake in the project.

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

REPORTING EXPECTATIONS:

Provide a schedule which you will commit to for sharing progress reports to the community.

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 my LAMBO. But Wen Lambo?

Financial Model