I completely agree with the sentiment. I feel like you're waaay underestimating the difficulty of the task.

Building this sidechain will simply be a matter of utilizing what's already known to be working on other crypto projects and amalgamating them into a HIVE asset.

The fact that you're using "simply" and almost thinking of it as putting two existing lego bricks together. shows that you don't see how hard it is to build it. You mentioned that you want to fund it with other devs but which other devs are on board ?

I think wolf is right that a poc would go a long way before requesting funding.

Also overall I think there is no point in funding 50 different side chains at the same time, @blocktrades is building one, hive engine is there, decentralized fiat has one etc.

There is just no need for yet another one, imho we should just converge together to work on one or two instead of spreading thin.