Q1 2024 Budget Proposal

Summary

This proposal covers Seed Club’s focus areas and expenditures for Q1 of 2024. We outline our Q1 budget, and provide a proposed plan and budget for Seed Club through July of 2024.

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 budget update for Q2 of 2024.

Our 2024 Objectives

What started as some friends exploring social tokens together has grown into a network that has incubated and funded over 200 leading crypto projects.

We’ve tapped into a general dissatisfaction with the current state of our digital lives, and the growing belief that the participatory, permissionless, and open worlds that crypto enables may be an antidote.

At our core, we’re a place for visionary founders that are insane enough to be building in the nascent and uncertain world of “consumer crypto” and for the early adopters and investors crazy enough to support them.

We back founders building onchain products with onchain memetic distribution and an onchain business model. The ones building something people really want to be a part of and driving onchain transactions that reflect that.

We believe that building onchain today will be as impactful as building online was 20 years ago and that creating ways for builders and early adopters to participate in value creation alongside investors will help make that belief reality.

Our H1 2024 Objectives are designed to help us take bold steps to further this vision.

Q1 2024 Objectives

1. Launch and support SC07 consumer crypto companies.
2. Grow our distribution by scaling our media and building new product experiences that drive valuable interactions.
3. Increase the depth and connection between our existing founders and attract new founders to our network.

#1 Objective: Launch and support SC07 consumer crypto companies.

To continue elevating Seed Club to be the unquestionable best place to build consumer crypto companies.

KPIs

1. Announce Seed Club’s 7th cohort and receive over 300 applications.
2. Launch SC07 with up to 10 consumer crypto companies defining new categories.

#2 Objective: Grow our distribution by scaling our media and driving transactions.

The Seed Club brand is well known and recognizable in the crypto space. We want to continue compounding the credibility and value that comes with it, and that it creates for our network. We believe one critical path to this is by driving the number of onchain transactions through our own media and by amplifying curated mints from within our network.

KPIs

1. Hire supporting media roles to
   1. Increase our presence on decentralized social networks and Youtube.
   2. Experiment with growth strategies to double our newsletter subscribers and twitter following.
   3. Capture and amplify the essence of the Seed Club brand at events.
   4. Resource a media team to tell the stories from within our network
2. Continue amplifying Internet Explorers through new iterations on design, minting experiments and high-profile guests.
3. Host IRL experiences at least once a quarter.
4. Launch SpecPort, Seed Club’s first network product.
   1. Receive over 25k sign ups.
   2. Drive 10k transactions.
5. Build and launch Ethereum Toy Factory (an idea minting platform) that attracts a large top of funnel of builders.

#3 Objective: Increase the depth and connection between our existing founders and attract new founders to our network.

To date, the only way for founders to join the Seed Club Network was through participating in an accelerator program or through receiving investment from Seed Club Ventures. Our network grows stronger through our ability to attract and serve exceptional on chain builders and aim to create new pathways for such individuals to join, contribute and get value.

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

1. Run up to 5 founder Circles (small groups of founders that meet monthly to share learnings).
2. Host quarterly IRL events
3. Execute 2x high leverage event sponsorships (Brand New / Farcon)

Q4 2023 Actuals

Here is a link to our Q4 actual operational spend.

Q4 2023 actual spend was: $297,138

Q1 2024 Budget

Here is a link to our Q1 budget.

Key Takeaways

Total amount in treasury: $10.02M

Burn: $74,850/mo, growing to $132,309 in H2 2024

Runway at current burn: 6.6 years

Implementation

A vote for this proposal will approve the outlined budget and objectives for Seed Club’s Q1, 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