Here are my general thoughts… The ask is for $2.2 million.
Initial thoughts
This is enough for a seed round of funding, but the key is that this is going to need more capital if this is successful.
What I would like to see is a VC commit to some amount of capital and that APE DOA match the amount of funding up to $2.2m to bring the total to $4.4 million.
Having raised capital before ($7 million for a seed round in 2016) I think that the most important thing is going to be having follow on funding that will come from places other than the DOA and getting some VCs involved that can help pipeline this if successful for later $10-$50m rounds would be great
Challenges
The video sharing space is one of the most challenging ecosystems in the world, trying to compete with YouTube an already established player is a huge task in a space that has had many try and fail. Not saying you can’t do it but just a cause for concern, also why I would like to see some VCs commit to this because the last thing we would want to see is you succeed but not have any further funding sources and no professional capital committed
AE has built OTT streaming platforms in the past, and NFF’s advisors who run Roku and other major streamers have been incredibly additive in helping us find key players for the media acquisition and ad placement of the platform.
We also collective have many VC relationships who we feel confident would jump at FomoTV… but we’re also building this to be $APE focused from inception… so we’re aiming to prove it’s value to the community and then go scale aggressively with content acquisition and user growth through VC support.
I feel confident that the 2.2m is sufficient along with some $$ from NFF to get us to an amazing MVP. It’s also a sizable ask from the DAO, and I’m conscious of only wanting to ask for what’s needed from the community.
After review, this Topic submitted by @CameronMoulene is ready for vote. The proposal will be posted on Snapshot at the next weekly release, which is every Thursday at 9PM ET.
This proposal is live for Snapshot vote at Snapshot. The voting period closes next Wednesday at 9PM EST.
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