problem nft.nyc, the leading non fungible token conference, occurs june 20-23rd. stakeholders attendees need a fun event at which to cross pollinate and lower silos.
problem diamond dao needs to expand its total addressable market and work against negative public perception of web3.
solution we’ve booked Sovereign in Brooklyn June 21st for a multimedia event with some of the most significant independent and web3 artists across music, visual art, gaming, film, comedy, fashion, and more. we’re assembling a stacked lineup led by Queens indie rap legend Big Baby Gandhi, Miami trap gamebreaker turned game dev iforgotmyname fka Lofty305, and more.
we’re seeking aligned sponsors. check out the detailed proposal at the link.
I think this could be an interesting opportunity for us to make inroads in the music NFT space.
We are also reaching out to Catalog, a 1/1 Music NFT platform to pursue an analytic consulting/joint marketing type engagement. Would be interesting if we could sync these two initiatives and use the event as an opportunity to promote our nascent analytic consulting capability for NFT marketplaces and artists.
Would like to know who else is sponsoring and hear a bit more about the logistics of the event. Who is being paid for what? Are there contracts we can refer to?
currently cxy and Glass Protocol have committed 1 eth each to sponsor the event, for a total of 2 eth toward our 3.3 eth minimum goal.
we actively pursue warm and hot leads with both web3 and traditional sponsors.
who is getting paid for what?
all sponsorship will go towards paying as many artists from our dream lineup as we can to perform, along with venue, security, door, sound, beverages, and any other necessary event amenities.
anything raised or generated in excess of the costs would be split amongst the artists, with a 15% commission for the organizers of the event.
are there contracts we can refer to?
we have confidential signed letters of intent from the headliners Big Baby Gandhi and iforgotmyname; they are official members of future modern.
we also have a performance fee sheet from Paperboy Prince, our other desired main headliner; view below.
Can discuss on the next call but that would be getting pretty close to the event. Can you share documentation that confirms you have access to the space?
Also, you mentioned a 3.3 ETH minimum. What happens if the minimum isn’t met?
Also, is there a deadline for contributing the funds?
see our event data room for the latest proposal, up to date budget and venue confirmation.
if we don’t collect enough funds to pay for the minimum requirements of the event, we will reimburse those we collected from. the budget attributes every line item to a sponsor, so collecting from that sponsor implies payment for that item. we have not collected from any sponsors so far, and began the collection process today.
there is currently no deadline for contribution except the June 21st event date, though that is subject to change as needed to finalize other contributions.
Okay, thanks for the context. Good to know that funds will be returned if minimum is not met.
My primary concern is that we commit to sponsoring the event, advertise the event, and then the event doesn’t happen for whatever reason. This would damage our brand and reputation.
Before publicly sponsoring the event/advertising it I would want whatever minimum is necessary to do a “minimum viable event”, i.e. venue is paid for, minimal group of artists paid for and secured, etc.
Ideally we would get to this state at least a week before the conference starts, so that there is adequate time to promote the event.
based on the budget provided we have the commits necessary for a minimum viable event. the venue is booked, and we have performers willing to perform for their name / org’s association with the event. once we collect funds from the sponsors committed, we can pay for all the line items attributed to the respective sponsor. we’ll expand amenities modularly as collections come in.
