Seed Club

Summary

This proposal covers Seed Club’s focus areas and expenditures for H1of 2023. We outline our Q1 spend, and provide a proposed plan and budget for Seed Club through Q2.

Our goal is to provide insight for the $CLUB community into Seed Club’s operations. Once approved, Seed Club’s contributors will be responsible for executing these objectives and returning to the community with a proposal for H2 of 2023.

Our 2023 Objective

Since our inaugural cohort in 2021, we’ve accelerated close to 100 teams building incredible internet native organizations – or DAOs. Starting Q2, Seed Club will be taking its learnings and bringing it to the next version of our potent Accelerator; the Consumer Crypto Accelerator.

The Consumer Crypto Accelerator will be focused on finding the best founders who are building at the intersection of culture, community and crypto.

Our goal as an organization is to create and incubate the canonical examples of crypto consumer products that prove the inevitability of web3.

Q1 & Q2 Objectives

1. Launch the Consumer Crypto Accelerator by Seed Club.
2. Relentlessly support our builders
3. Champion our category and it’s builders through media.

#1 Objective: Launch the Consumer Crypto Accelerator

We realize that incredible consumer products and experiences are key to web3 adoption, and are a critical component for the establishment of sustainable web3 business models. We are looking for the best founders building examples of this, and know that offering capital is an important part of attracting and supporting the best talent.

We also understand that some of the best builders won’t always be building with a DAO-first approach. Seed Club is ready to extend the Accelerator to a more ambitious and broad spectrum of projects. To do this we’re now going to accept companies in addition to DAOs for the first time.

We still deeply believe that community-owned networks are the future of the internet, but we’ve realized that it’s often counterproductive to be one from Day 0.

KPIs

1. Complete the restructuring and launch of the Seed Club Accelerator offering.
2. Run a cycle of our new accelerator offering focused on attracting the absolute top-tier builders in web3 consumers.

#2 Objective: Relentlessly support our builders

The highest leverage thing we can do in pursuit of creating the canonical examples of consumer crypto projects is relentlessly supporting our top portfolio founders.

KPIs

1. Continue monthly/ad hoc check-ins and async support with top founders
2. Grow our investor network in support of project fundraising needs
3. Expand our circles program to a group of external founders

#3 Objective: Champion the category

Be a champion for web3 and crypto, and the incredible builders in our network.

KPIs

1. Publish content (on and off chain)
2. Launch our first collectible collection
3. Partnerships

Q1 2023 Actuals

Here is a link to our Q1 actuals.

Q1 2023 actual spend: $396,938

• Media: Operational Spend (January)
  • $30,000 spent includes strategic media consultancy.

Q2 2023 Budget

Here is a link to our Q2 budget.

Q2 2023 projected spend: $409,142

• Community: Travel & Events (April)
  • $77,000 spend includes FWB Fest sponsorship. We’re presenting a side stage and will host the SC06 Demo day live at FWB Fest.
• Community: Overhead (April & May)
  • $30,000 spend includes the marketing and promotions associated with a series of NFT drops and marketing initiatives in support of Seed Club’s brand building and the Consumer Crypto Accelerator launch.

Key takeaways

2022 H1 actual spend: $1,105,203

2023 H1 [Q1 (actual) & Q2 (projected) spend]: $806,080

Decrease in spend between H1 2022 → H1 2023: 27%

Runway at current monthly burn: 8.6 years

Implementation

A vote for this proposal will approve the outlined budget and objectives for Seed Club’s Q2 allowing the SC core team to drive forward the outlined objectives and to oversee the appropriate deployment of these resources.

Vote

Yes - Approve and implement this budget

No - Do not approve this budget