H2 2023 Budget Proposal

Summary

This proposal covers Seed Club’s focus areas and expenditures for H2 of 2023. We outline our Q2 spend, and provide a proposed plan and budget for Seed Club through Q4 of 2023.

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 H1 of 2024.

Our 2023 Objective

Since our inaugural cohort in 2021, we’ve accelerated over 100 teams building incredible internet native organizations - or DAOs. Starting Q2 of 2023, Seed Club launched the next version of its Accelerator - the Consumer Crypto Accelerator, focused on finding the best founders building at the intersection of culture, community and crypto.

This proposal outlines the continued work Seed Club plans to execute in order to build a powerful network supporting the builders and companies proving the inevitability of web3.

Q3 & Q4 Objectives

1. Grow the credibility of the Consumer Crypto Accelerator
2. Build out distinct membership offerings pulling high-credibility people into Seed Club
3. Grow the reach and distribution of the Seed Club brand

#1 Objective: Grow the credibility of the Accelerator

We have significant momentum with the accelerator and need to keep our foot on the gas. Our initiatives for the quarter will be focused on elevating Seed Club to be the unquestionable best place to build consumer crypto companies.

KPIs

• Help SC06 teams successfully raise rounds after demo day.
• Plans for long term capital requirements are finalized and being executed.
• SC07 is ready to launch early Q1 2024 with meaningful improvements.

#2 Objective: Build out distinct membership offerings pulling high-credibility people into Seed Club

Our accelerator is effectively serving top founders, but there are a number of other personas that are interested in being a part of Seed Club. By directly serving these personas, we can expand our network of incredible people, leading to higher credibility, reach and deal flow.

KPIs

• Run up to 5 founder Circles (small groups of founders that meet bi-monthly to share learnings).
• Help 15+ Consumer Crypto products receive high-value feedback from TestFlight Club (a community of early adopters & product builders).
• The Ethereum Toy Factory (our idea minting platform) is attracting a large top of funnel of builders.

#3 Objective: Grow the reach and distribution of the Seed Club brand

The Seed Club brand is well known and recognizable in the web3 space. We want to continue compounding the credibility and value that comes with it and that it creates for our network. As we continue to lead the consumer crypto category, we want to step into greater engagement with the audience that the category provides and grow our reach and distribution to new consumer-facing audiences.

KPIs

• Maintain Seed Club’s social channels with consistent content that highlights the happenings of the Seed Club Network and shares its POV.
• Launch a new media property called Internet Explorers.
• Host IRL experiences once a quarter.
  • Opportunities to do smaller, more interesting marquee events.
    • Examples: Zuzalu, fwbFEST

Q2 2023 Actuals

Here is a link to our Q2 actual operational spend.

Q2 2023 actual spend was: $352,778

(Q2 2023 budget was: $409,142)

• In addition to our operations budget, SC allocated $1,520,250 to funding SC06 companies.

Q3 2023 Actuals

Here is a link to our Q3 actual operational spend.

Q4 2023 Budget

Here is a link to our Q4 budget.

• Media (October)
  • $20,000 in marketing expenses

Key Takeaways

2022 H1 actual operational spend: $1,105,203

2023 H1 actual operational spend: $749, 716

Decrease in operational spend between H1 2022 → H1 2023: 32%

Total amount in treasury: $12,272,169

Current monthly burn (as of October 2023): $80,150

Runway at current monthly burn: 12.7 years

Implementation

A vote for this proposal will approve the outlined budget and objectives for Seed Club’s H2, allowing the Seed Club 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 or implement this budget