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Thank you @CameronMoulene for your ideas and the ApeCoin DAO community for the thoughtful discussions. A moderator will get in touch with the author to draft the AIP in the appropriate template. Once the AIP is drafted and meets all the DAO-approved guidelines, the proposal will be posted on Snapshot for live official voting at: Snapshot
Follow this Topic as further updates will be posted here in the comments. @CameronMoulene please see your messages for the next steps.
-Pearson
Hi ApeCoin DAO Community,
The AIP Draft submitted is currently incomplete and feedback has been provided
to the author.
Follow this Topic as further updates will be posted here in the comments.
-Amplify
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Hi ApeCoin DAO Community,
@CameronMoulene has completed editing their AIP Idea to be their AIP Draft. It has been assigned an AIP ID of AIP-222.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Amplify
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Do you have a competitor analysis?
Xeenon, which offers web3 streaming on Arbitrum and leverages LivePeer, is already live. They offer a suite of other products and did an equity raise of around $3 million.
Lenster also has video services and may be entering the streaming service game with dumpling.
$2.2 million seems awfully steep ā and agree with the comment above that this feels like a seed sans equity ā when there are competing options that could easily integrate $ape.
4 Likes
Hey Marklar,
Thanks for your responses, thoughts and feedback!
Iāll address them in order:
- Yes we have competitive analysis, and will continue to do more as we begin building. Xeenon and Lenster are still very much startups - and not focused on all of the same elements, particularly AVOD that weāre targeting with FOMOtv. Thereās also a cool start up called 402 out of Y-combinator which Iāve spoken to founders of. In addition, there are a lot of mainstream streamers that will be making plays into Web3 based off decks Iāve reviewed as an investor. Ultimately, I believe our approach is incredibly unique to tackle both AVOD FAST channels and Live Streaming for gameplay, and something our team is uniquely positioned with relationships to execute on. The world of advertising is incredibly nuanced and insulated and understanding the CPM/Conversion data to appeal to advertisers is something only BRAVE network has done of great job of in Web3. To really capture AVOD and thrive as a FAST Channel provider we will need to hire a seasoned exec with ad-sales experience at PLUTO/HULU/ETC who has those relationships with the larger ad buyers, and then begin refining conversion strategies to improve the CPM for FOMO and $APE.
Iāll respectfully disagree on 2.2m being steep when you consider the cost of media licensing to have substantial libraries of content on the platform and the cost of managing back end expenses of an OTT. We will inevitably need to raise additional capital soon after, but between NFF/AE our relationships run deep there and weāve begun early conversations. Both teams are incredibly passionate about the potential there. Some verticals simply have a higher barrier to entry, but it shouldnāt dissuade builders or the DAO from granting capital to ventures that directly benefit it! Unfortunately, some hold a sentiment that a certain thresh hold of dollars being granted of DAO money should be the metric for Y/N votes, and I would actually suggest the better metric is how much benefit the idea brings the DAO if properly executed. I feel the proposal speaks for itself in that regard.
The DAO is not legally able to retain equity as it only can give out grants. I feel the community will in fact have vested interest as we are aiming to build this using exclusively Apecoin, ostensibly building out an entire marketplace for media using $APE. Weāre also focusing on rewarding the $APE and BAYC communities focusing primarily on Otherside for our Live Streaming side to include exciting and unique value props to the gamers. Anyone on ETH could integrate $APE, but that is distinctly different than specifically building for it and exclusively using it at inception. This isnāt a market grab by a big player, itās a curated build for the community.
Warm Regards,
Cam
1 Like
Hi ApeCoin DAO Community,
We have sent a list of follow up questions to the author
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Hi ApeCoin DAO Community,
@CameronMoulene has responded to our questions and they are in our review once again.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Is $2M for a platform that exclusively uses $ape a good idea? seems more of a hurdle to adoption than a benefit as it mostly contstrains audience to existing community members and, if weāre being honest, our user counts donāt merit a $2M seed for a PoC streaming service for a game/platform in the Otherside that could be years in the making still. what is the duration from inception to lapse of $ape exclusivity?
Where will the platform be deployed? What network and layer? What other tech will it leverage? What happens if Otherside or other utility is deployed elsewhere? Where will $ape liquidity come from on this network? How agile can this build realistically be and what are the contingency plans? All of these issues are amplified by $ape exclusivity.
What does the user on-boarding experience look like? What tools/projects will be integrated in this regard?
How will you monetize the platform?
4 Likes
Hey Marklar,
Thanks for the great questions. I appreciate the attention to meaningful details - the DAO needs more thoughtful and critical thinkers like yourself. I equally appreciate you living up to your bio in DC/TW: āMarklar is the kinda guy thatās like your older brotherā¦will roast the f*ck out of you, but has your backā
The first portion is mainly opinion based and we can agree to disagree on the whole.
There is no duration to the lapse in $Ape exclusivity - The objective is to never pivot, but low gas options with L2s are being considered (only if theyāre tethered to $APE). The platformās crypto payments integration will be deployed on Eth, and as this is a content streaming network itās essentially agnostic to where Otherside deploys. The back end will be built to be as flexible in that regard as possible so that we can integrate great DApps, and protocols that will benefit the service as a whole. Ape Liquidity will be transactional - so the ecosystem as a whole will have access including the ad purchasers. Groups like Omnicom (the largest ad buyers in the world) already see a tremendous opportunity in the crypto sector to improve advertising and are actively exploring exciting new monetization and conversion options.
In the proposal it highlights monetization on a transaction basis similar to Youtube or any major streamer, drawing revenue from ad placement and On Demand Purchases, but substantially improving the creator and viewer value props. There are tons of ancillary revenue options like launch pad, product placement, Possibility for optional subscriptions following The Shanghai upgrade which we envision for a V2.
Weāre going to aim to make onboarding as frictionless as possible! The only hurdle will be US based consumers must KYC above $600 USD payout to remain compliant with US regulations, so a partner like Fractal or Coinbase wallet. (who weāve spoken to) are a seem-less integration here.
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Hi. Did you mean $600 USD equivalent? Or maybe thereās a different regulation Iām unfamiliar with.
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Yes, exactly - thank you!
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GM.
Is the plan to have this platform be BAYC / Otherside / NFT / Web3 centered, and focused on our ecosystems creators?
Or is it to be a direct Twitch competitor but with watch to earn mechanics and higher percentages for creators?
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Weāve seen you deliver on NFF and generally be present in the Web3 ecosystem.
But! As this is a large fund allocation and things happen, is there a periodic unlock schedule of fund allocation that could be followed to lower the risk to the DAO and still keep your project on track?
2 Likes
GM Postgrid,
thank you for your questions, and for the kind words around NFF.
-
The platform absolutely plans to be centered around both the BAYC and the Apecoin ecosystem and provide longterm value to both communities with a focus on utility for the $APE. It also (as a function of itās services) plans to be a competitor to both current live streaming OTT platforms like Twitch; as well as, Fast Channel Networks.
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The budget illustrated in the proposal is to cover all areas needed in the Beta development of the platform. FOMO will need to hire an ad sales manager, a content acquisition manager; as well as cover the fees for AE to build and iterate on the platform. In light of that a scheduled unlock may put in jeopardy a paid salary of a key member of the build. The build will also be on a somewhat aggressive timeline to meet Othersideās launch in Q3 of 2023, we want to ensure we can offer gamers the opportunity to use FOMO for their gameplay.
Cam
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Thank you for your responses.
It would be helpful to see how this budget is being allocated in detail then, and to further explain why it is needed in lump sum.
Would this pull you away from Non Fungible Films, or vice versa?
4 Likes
Postgrid,
Thereās a budget breakdown chart included in the proposal graphics.
22.7% is going towards the tech-stack build - with a focus on Live Streaming and Select event streams for channels at MVP launch.
45% is going towards Onboarding some notable creators onto the platform - AAA quality content creators from other competitive platforms to aggregate users and onboard them onto both FOMO, but also their audiences into $Apecoin ecosystem. As well as, media licensing some content to stream.
31.8% is going towards the hires/team adds referenced above, hosting costs on AWS or a competitor for ongoing expenses of maintenance on the platform, necessary legal for disclaimers, inc and structure.
This would be under the NFF umbrella - and in fact would be the exlcusive home to all future NFF media. It would be an exciting growth for NFF and would in no way remove me from all of our plans and activations already in progress.
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Hi ApeCoin DAO Community,
In responding to our questions, @CameronMoulene has provided consent to share the content in this forum for the community.
A DAR package is being completed, upon which this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Questions (Click to expand)
- Are there any potential legal risks associated with the activities of this AIP?
Answer:
No part of building a streaming platform inherently has any legal risks outside standard business practices. When we launch pay-out models for viewership we will need to KYC users to remain compliant in the US. We plan on integrating Coinbase wallet / Fractal or a similar partner to accomplish that initiative early on.
- Will you please provide background information on yourself and your team that highlights their ability to complete the tasks set out in this proposal? Please provide substantial support to your response, and examples if possible.
Answer:
I am the founder of Non-Fungible Films, a web3 native entertainment studio which has forged partnerships with William Morris Endeavor, National Lampoon, Fuzzy Door, etc. Iāve been a Hollywood native basically all my life and have a fairly comprehensive understanding of the streaming landscape. On NFFās advisory team sit Lydia Antonini (who runs production for Roku), and Susan Levison (who ran CBS, WWE, and other studios) - their insights have been integral in helping structure a sustainable and scalable model for āFOMOtvā. From a Technical standpoint - AE are some of the most seasoned devs in the world. In the web3/crypto sector theyāve built protocols/marketplaces for Magic Eden, Polygon and many others. Theyāve also built OTT streaming platforms as well, and will be able to bring all of that experience to FOMO.
- Please elaborate on the teamsā expectations for the future.
Answer:
We would have hoped to start a bit sooner, but we are still targeting a late q3 MVP to launch in parallel with Otherside and capture the Live Streaming of gameplay. Through Q4 we will also begin onboarding as many traditional creators as possible for FAST channels; as well as, established media libraries already utilizing the medium on other platforms. We will hire a head of sales with established relationships at all of the ad agencies, and have found a seasoned media buyer (formerly at Pluto tv, Roku) to lead those efforts on our small team. Our hope is that by Q1, 2024, our viewership, libraries and creator community will be in a strong enough place to begin rev-share and platform - wide monetization across live streaming and AVOD FAST Channels. Then we plan on raising a Series A, which we feel very confident about between NFF and AEās relationships.
- Is the Ape Foundation expected to engage in any of the steps of the AIP implementation? If so, please specify the step and elaborate how it is expected to work.
Answer:
Sure - weād love your support and co-hosting some spaces when the product is live, but with respect to build, additional resources etc - no, this is a one-time ask to build the product for the community.
- Have you or your team identified any additional financial, operational, or brand risks associated with this AIP?
Answer:
Noting that you have already identified several in your topic.No, the draft gives a comprehensive overview of all foreseeable issues at this time.
- Would the streamer app require token holders to connect wallets? If so, what are the plans for security audits of the app?
Answer:
Yes. We plan on multiple audits taking place. Iāve spoken to Alex at Solidity.io as well as a broad community of devs in the space. Security and assurance that the platform has no risks for users will be a paramount importance.
- Do you have any estimated costs for users to use the platformās features, or any premium features?
Answer:
The platform is free to use, in fact, it will pay users. We may create a subscription model once āShanghaiā passes on Eth, but that is not a primary focus at the moment. With respect to āOn Demandā options - that will be entirely up to creators to set the prices for their media - and theyāll see substantially more of that money vs. anywhere else!
- Do you provide consent to share these questions with the community in this forum?
Answer
I just feel like we have a special connection, you know? Iāve loved the time weāve spent together. Soā¦yes, I consent. But understand, I donāt just do this for every DAO. This means weāre a thing now.
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Hi ApeCoin DAO Community,
We have no further questions for @CameronMoulene . This AIP is now under Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
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