0x6fd15915…874bsent to0xc6962c09…7d73·#18,663,941·view on Etherscan
Proposal - Fund Paladins Vanguard to Generate Revenue v2&&
**Proposal - Fund Paladins Vanguard to Generate Revenue (v2)**
Give a medium sized grant to fund a core team to go out and build products and a platform
**Note: This is a revised version (v2) with additional details around a payback period for the DAO.**
**Purpose:**
Since Paladins DAO was first incepted in April 25th until today November 20th it’s been 6 months and 26 days. I’ve seen the DAO evolve and go through peaks and cycles. There were highs, like when we attracted some really great members, and lows, when proposals were passed but flopped or got no engagement.
Throughout it all, there was a trend that the DAO at its core really cared about Web3 gaming over Web2 gaming, which I found interesting and invigorating. The idea that over 70 people raised $45,000 to really highlight and showcase Web3 gaming at the peak of the bear market is a pretty great story.
There’s also a trend that the majority of the DAO is only able to participate in proposals via BD and networking and not by being gamers, or by actively organizing tournaments unless they’re actively being managed or led. As a DAO we certainly tried to organize working groups to lead proposals but it was always difficult to coordinate people’s schedules in between their day jobs or companies and the proposal. This is fair, and still a good use case for a DAO since DAOs create a culture of collaboration and trust which makes it easier to connect for networking.
Throughout most of this time, myself and Mizzy have put in an average of 20-30 hour weeks and never asked for any compensation. In return, we’ve raised awareness of the brand, built a solid reputation by never taking in subpar partners or games, and built a strong network in the Web3 gaming ecosystem. Now any proposal that gets launched from the DAO will have additional lift and clout and actually help people’s companies and brands within the DAO.
The recent tournament was a success in terms of its reception and the experience and exposure that it got for the brand. https://twitter.com/PaladinsDao/status/1725490682180325625 However it was very unscalable in terms of hours put in, and the amount of revenue it generated. It cost $2800 to run from production crews to design costs and marketing, and raised $5000 in sponsorship dollars and ~$3000 in NFT sponsorship prizes. We gave $4500 cash away as tournament prizes, and all of the NFT prizes away in raffles. So the tournament gained followers but ran at a loss of about $2400. Even if we massively improve the process next time I think that most activations will only net a maximum of $1000-2000 profit, and this matches up with experiences of other folks that I’ve spoken to in the space doing similar things. This would need to continue for about a year before hitting any real traction, especially as Web3 gaming is still nascent and there’s not widespread sponsor interest yet, since the category is very small.
Of course, a “strong” alternative to running tournaments cash flow wise would be to field a team of ex-pros who go and compete in Web3 tournaments and win prize money. Because there’s such a wealth of funding for Web3 games, this is actually a great “arbitrage” and a steady source of cash flow. If someone else in the DAO wants to build that they should be able to submit a proposal, but I personally don’t think it’s a very inspiring legacy to leave behind for myself and not something I would want to spend a large amount of time on.
That’s why given the options available, I would like to ask for a medium sized loan from the DAO and also sign off and approval to form a separate legal entity called Paladins Vanguard along with Mizzy, and one or maybe 2 others who we are still working out arrangements with.
The purpose of the entity will be to have an entity to raise funds with, and to run operations with to build a platform. The actual details of the platform we’d like to keep private for now, as information has been shared with external parties before, and we think the execution and design of the platform is novel enough to keep it private.
After raising the capital, and building the platform, Paladins DAO should be in a even better place to launch other proposals that members (whoever may want to come in, or existing members) want to launch.
This will be a loan that can be paid back with a pretty good interest rate.
Here are the terms of the loan:
$3.5k loan
$1000 repaid after 1 month
$1000 repaid on milestone of $10k profit (total repaid $2k)
$1500 repaid on milestone of $30k profit [total repaid $3500]
10% of profits afterwards capping at $35k total per year, which resets every year for 5 years.
In addition we can commit that when Paladins Vanguard builds the platform, any abilities we have to offer bonuses to the DAO will be implemented, as well as potential airdrop farming opportunities as they arise will be shared and the DAO members will be prioritized. This should be considered as additional perks of being in the DAO
**Milestones/Timeline:**
Form Legal Entity and set up Structure in Singapore - December 1st
Write whitepaper, form deck, get feedback - December 1st - December 31st
Work on other activations for Paladins that can build an audience and further build Vanguard team’s resume. Finalize team. December 1st - December 31st
Raise Capital target will be $300k-500k on $3-5m valuation - January 1st to January 20th
Begin Development with partner - February 1st
First Marketing Initiative Launch - January 20th
Marketing Activities for Launch - April 30th
First Launch - May 15th
**Resources Ask:**
$3.5k as a Loan to help with incorporation costs, fundraising materials, and other minor expenses.
**Lead:**
0xChanglu / 0xMizzy
**Supporting Team Members:**
TBA