Proposing The Rarible DAO Accelerator

Introduction
The Rarible DAO seeks to build an accelerator that will seed independent Web3 projects that utilize the Rarible Protocol. The authors are: @Dev and @Justin2234. Feedback provided by: @eric and @m0zrat .

Our focus is to build a robust program and graduate the first cohort by end of Q1 ‘22.

Operations
We propose the accelerator:

  1. Works with and invests in 6-12 projects (dynamically sized), in up-to-three month programs, which may culminate in a Demo Day to investors
  2. Invests in each project in the program: sizing TBD ($100K up)
  3. Has either i) 2 or more fixed date programs/year or ii) accepts applications on a rolling basis (less rigid deadline system due to the pace of the NFT market)
  4. Match teams/ideas from within the DAO and also source projects externally
  5. Has a 7 person Investment Council - 5 internal, 2 external
  6. Eventually add value to projects via our experienced, expert team of mentors
  7. Harness ideas/builds in the Builder Group to source talent, before supporting and funding
  8. Support projects post-accelerator on a discretionary basis
  9. Has its first projects attending by 1st Feb 2022

Success Metrics:

  1. Projects receive investment from investors during/following accelerator
  2. Projects benefit the Rarible ecosystem and $RARI
  3. Increase interest in projects/teams wanting to build on the protocol
  4. Generate inbound interest in Rarible DAO
  5. Build a powerful alumni network

Funding
We propose this monthly budget, for an initial 3-months, to launch the accelerator and aim to run the first program:

Personnel Salary Tokens
Investment Council member - Dev $12,500/month TBD
Investment Council member - Justin $12,500/month TBD
Accelerator PM $7,500k/month TBD
Experts/mentors pool Up to $57,500/month TBD
Total personnel cost/month (USD) Up to $90,000/month TBD
Miscellaneous costs
Includes legal, recruiting and other prof. services and subscriptions Up to $10,000/month
TOTAL MONTHLY COSTS (USD) $100,000.00
TOTAL MONTHLY COSTS ($RARI)($20.74/RARI) 4,822

3-month costs could be up to $300,000, with potential to spend less due to:

  • Sourcing of experts/mentors from inside the DAO and our network, reducing cost
  • Experts and mentors taking a while to hire, thus not existing as a cost early on

We propose setting up an accelerator multisig with these signers (3/5):

  • Eric
  • Dev
  • Justin
  • Ezra
  • Mariana

Bios of authors

Dev - proposed ‘Accelerator Coordinator’

Dev is a Web3 evangelist who’s been following decentralized monies since 2007, BTC since 2011 and ETH, DeFi, Metaverse and other Web3 trends since early-2020. He is a Working Group Lead at Index Coop and has 15 years financial markets and tech experience, covering growth, marketing, PR, sales and structured transactions (>$15bn deal value). He has worked in startups, banks and money managers in many countries and continents, experiencing four acquisitions and two IPOs. Dev’s favourite holding is the Metaverse Index ($MVI).

Dev’s resume is available on request and he is happy to meet for calls. You can also chat to him on Discord at: Dev.#2739.

Dev will be responsible for overall results and is expected to add value in these areas: hiring, growth, marketing, PR, strategy, fund-raising and investor introductions.

Dev’s address (updated): 0x078eDe7D7174c81D4d3CCA8265f79F464E576013

Justin - proposed ‘Accelerator Co-Coordinator’

Justin is a crypto native who believes in building strong communities around NFT’s and the Metaverse. He bought his first BTC in 2013 and has advised and led capital raising strategies for start-ups and blockchain companies. Justin has experience running a venture studio and accelerator focused on techn and consumer brands. He has been a founder and operator of two consumer brands and has launched two lines of collectible trading cards. Justin has over five years of experience leading creator partnerships with gamers, YouTubers, musicians and athletes. He led his first NFT partnership in May 2020 with Rally.io and Flashpoint gamers. Justin started his career in investment banking (> $400m of investments) and the financial markets.

Justin’s LinkedIn profile is here and you can also find him on Discord to chat at: Justin2234#5015.

Justin will be Co-Cordinator and is expected to add value in these areas: brand, curriculum, biz dev, partnerships, strategy, pitch decks, fund-raising, investor introductions.

Justin’s address: 0x215B8974a7209df6368285232acfC6Ba8180bd47

4 Likes

This sounds exciting!

The Rarible DAO seeks to build an accelerator that will seed independent Web3 projects that utilize the Rarible Protocol

This sounds like non-exchange-based protocols or projects are not in scope of the accelerator program? Eg, general NFT utilities / dapps / public goods that don’t actually interact directly with the exchange?

Harness ideas/builds in the Builder Group to source talent, before supporting and funding

Dig this – builder group as a resource for incubating teams is a nice selling point for the accelerator program as the DAO becomes more prominent in the NFT builder space


There’s been discussion of “what’s in builders group vs what’s in accelerator program”, which I think the first quoted section re: strictly building on the protocol answers

1 Like

Hey @bvalosek,

Glad you’re excited too - we’re pumped!

  • As we explore the accelerator’s strategy more, we actually see a powerful value add in investing in projects which use the protocol AND projects which don’t, to operate with a wider investment scope and address more opportunities. We would like to invest in all of those layers of the NFT sector you describe though, not just exchanges or, say, art related stuff
  • Would love to communicate with you and the folks in Builders re harnessing ideas/builds, as we think the Accelerator-Builders relationship one can be incredibly synergetic in this massively ambitious NFT DAO we’re trying to build here. Look forward to chatting on Friday

Cheers

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dig it :fire:

definitely think having a lot of interesting programs going on under the DAO roof will be a big net positive benefit to all groups. We’ll have some figuring out to do on builder vs accelerator vs grant vs ??? , but I am hyped about all the ways this could go

1 Like