Grant Request by EmpwrDAO

Archive Grants
1

Submission Date

January 5, 2022

Project Links

Website: empwrdao.com

Project Description

As the interest in: digital art, and Non-Fungible-Token utility continues to see an exponential increase, so does the demand for creators. This is wonderful for established creators, but leaves many talented creators unnoticed, and uncompensated.

The current market sees great barriers to entry in that: success is largely dependent on pre-established branding, and pre-existing reputation. This is good in the sense that the market continues to define what is valuable, and what is not, which ultimately sets parameters for the success of future projects
(i.e. if the creator of cryptopunks created a new collection, they would likely automatically assume more value than somebody creating that same exact project from scratch would likely assume).

With this current design, new talent often goes unnoticed. This is harmful for the ecosystem as a whole for fairly straight forward reasons such as:

  • Unrealized potential of creators results in an inadvertently negative effect on the NFT economy, and thus Polygon.
  • People are trading based on fundamentals that exclude the vast majority of creators.
  • The barrier to entry is very discouraging to people whom potentially have incredible amounts of talent.
  • Fewer people see capital gains, therefore potentially delaying Polygon’s growth in market dominance.

Proposed solution to this issue:

Formation of a DAO with the primary goal of matching established users with up-and-coming talent in order to establish future success of lesser-known, yet talented artists. The tentative model would pay established artists for their collaboration with up-and-coming artists (whom would be compensated based on the success of the project).

The Process:

  • After finding artists that fit the mold for unrealized yet high-potential talent, the DAO would then seek an artist that would properly align with the up-and-coming artist’s style of work.

  • Upon matchmaking, the DAO would then negotiate terms with both artists, and create a timeline for production.
    (Note: Possible terms with the up-and-coming artists would appear in forms such as, but not limited to: Negotiating royalty’s on initial sales of proposed collection with up-and coming artists in order to fund the DAO treasury thus increasing funding future projects.)

  • The DAO would then see out the marketing, and sales of the collection. In theory the marketing would be minimal due to the collection’s exposure of the already well-established branding of the artist hired.

The Outcome:
This proposed model would create a perpetual revenue stream within the DAO, empower talented un-established artists and allow them to create an initial project that would jump-start their career, and compensate the existing artists for their branding and time allocated to the project.

I believe this would be a great way for the Polygon Ecosystem DAO to showcase our mission of empowering creators, while also doing our part to further the growth of the blockchain industry as a whole. With the funding from the Polygon Ecosystem DAO, EmpwrDAO has the potential to become the leading talent recruitment source within the blockchain industry, while touching thousands of lives in a positive aspect. This will pave the way for growth within: Blockchain, Digital Art, Polygon, Polygon Ecosystem DAO, and creators.

Amount requested

65.000. USD

Milestones

Milestone 1: Recruitment and Foundation.

  • Formed/establish clear parameters upon which it will go forth and act.
  • Formed DAO leadership roles, and added governors to the multisig wallet.
  • Completed an ICO (token launch) in order to govern the DAO, and the DAO treasury.
  • Created an MVP website with all proper documentation, as well as social media channels.
    Expected: April 2022
    <Funding Round: $15,000>

Milestone 2: Talent Procurement for Initial Collection

  • The DAO will have actively procured artists to debut the first collection , and will have negotiated terms of agreement in place.
  • The DAO will have successfully and prepared for the launch of marketing campaigns for the first EmpwrDAO NFT collection.
    Expected: August 2022
    <Funding Round: $30,000>

Milestone 3: NFT Sale Completed, $100,000 TVL.

  • The DAO will have successfully completed the sale of the first EmpwrDAO NFT collection in its entirety with a net positive revenue.
  • DAO will complete decentralization by way of an ICO in order to decentralize and govern EmpwrDAO, thus handing the project over to the community.

<Funding Round: $20,000>

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