Provide Funding for a 50pt NBA Game Bounty

Provide Funding for a 50pt NBA Game Bounty Budget

Author: Kenny (acidicsantana)

ELI5 (Explain it Like I’m 5) Project Value-Add

Krause Hause seeds $1000 into a Juicebox.money project with the stipulation that the funds of the project are a bounty that can be claimed by the next NBA player to drop a 50pt game. We then market the bounty as a fun experiment in decentralized fandom anyone can take part in.

Requested Budget:

$1000 in ETH (exact ETH amount to be determined based on USD/ETH conversion rate at time of Juicebox project creation)

How will funds be used?

Funds will be used to start the Juicebox.money fundraising project that will represent the bounty. If the bounty fails and no NBA player claims it, the money will be returned to the treasury (minus gas fees).

How will funds be managed?

Since Juicebox projects need to be created and controlled by a singular entity, I would suggest that the most senior member of Krause House be responsible for handling funds and managing the project. I do not know who this would be and would appreciate recommendations on the best possible person to manage the funds.

Team

This would be a Krause House community effort

Project Details

I propose that Krause House should organize a fan bounty for the next NBA player to drop 50pts in a game.

This would be done by starting a Juicebox.money smart contract fundraiser that anyone can contribute to, with the stipulation that the money raised will be claimable by the next NBA player that has a 50pt game. To avoid legal issues around directly paying a player, we will make it clear that these funds are for a charity of the NBA player’s choice.

The funds would be available to be claimed by any NBA player that hits 50pts after the fund goes live. So, in the case that a player hits 50pts a week after the fund goes live but does not claim, the fund would be claimable by a player hitting 50pts the next day. Furthermore, there would be no limit on claim time. A player could claim a month after they dropped 50pts if the bounty is still available at that time (even if other players have also had 50pts in the meantime).

The only requirements for the NBA player to claim will be that they hit 50 points after the go-live date of the fundraiser, that they identify the charity the money will go to, AND that they submit an NFT commemorating the achievement to the Krause House team managing the funds. That NFT would then be randomly raffled off to one contributor to the bounty fund as a way of incentivizing donations.

We could publicize the project as Krause House exploring new ways that fans can interact with players that were never possible before web3. The best case scenario is that the project catches on amongst the general audience of crypto sports fans and we can rally the fund to the point where the donations are attractive enough for NBA players to claim the bounty. This would undoubtedly drive huge amounts of press interest and visibility for Krause House.

Worst case scenario is that the project never receives attention and the funds go back into the Krause House treasury at the end of the 2023 playoffs. It would be a waste of time, but with little waste of money.

The primary responsibilities for Krause House would be:

• $1000 seed fund provided by Krause House to jump-start the fund
• Krause House team to create and manage the Juicebox DAO smart contract for fundraising
• Krause House to help with promotional efforts to spread awareness of the bounty
• Krause House to run the process of raffling off the player NFT to a randomly selected bounty contributor (should the bounty be claimed)

Legal notes: Should this proposal be passed, it will need a legal / risk loop overview to ensure that there will be no legal repercussions for Krause House in managing / contributing to a charity payment based on NBA player in-game performance.

For background, here’s my initial message regarding this idea: https://discord.com/channels/847908414981275648/847908415472140339/1055252402883792896

I’ve also written up a sample of what I would imagine the content on the Juicebox project page would read. This can be found here:

https://docs.google.com/document/d/1rIGeP4o2iXaajZuPf3eWqo1upO_rc_A4rGKbqhdYctk/edit?usp=sharing

If you have any questions, please feel free to reach out to me directly on Discord @ acidicsantana#5249