Proposal: Fund Deposit for SXSW Event Venue

Author(s): Roberto Talamas & Kyle Krasicky & Mason Lynaugh

SXSW is one of the biggest events held in Austin TX. The event attracts over +200K individuals across a wide variety of industries. As such, it presents a unique opportunity to organize a social event to increase the awareness of ATX DAO and our mission to a much larger audience.

This proposal asks the ATX DAO community for approval to spend $10,000 ($5K now, $5K in February) from the DAO’s treasury to pay as a deposit for the venue. The details of the event are the following:

• The venue we are looking to reserve is The Venue and the estimated total cost ranges from $35,000 to $40,000. This includes: ** $10K - venue rental ** $15K - bar minimum ** $5,000 - $10,000 Entertainment + food ** $4,000 - $5,000 tax + gratuity
• We will have the venue on 3/16 from 6pm to 2am time
• The venue is capable of holding 538 people
• We’ve received verbal confirmation from a number of sponsors that are interested in supporting the event including: ** Grady.eth VC (Distributed Global) - $5K ** Coral Ventures - $5-10K ** ATX Crypto - $5K ** Pionex - more than $5K ** Quai - $2K ** Steady State - unspecified amount

Once we have a formalized sponsorship tier structure, it will be straightforward to secure additional funding from the connections and companies of current DAO members and incoming DAO members as well as execute more ambitious outreach efforts.

The $10,000 should be seen more like an investment than a cost for ATX DAO. Given the magnitude of the event and the amenities, we are providing, charging an entrance fee of $25-50 could net us a profit of $6K to $16K (assuming full attendance) in addition to international brand recognition. Additional possibility of an upcharge for VIP section.