155-[FLP#0010] - Budget Allocation Proposal (January - April)

Following the PLP posted earlier this week, we are progressing the Budget Allocation Proposal to the Final Lucidao Proposal [FLP] stage and putting it forward for a vote.

This Final Lucidao Proposal represents the 3rd Lucidao Budget proposal and covers the period from January 2023 until April 2023. Since the last budget proposal [FLP#0008], the legal representation of the DAO was created in the form of a Decentralized Autonomous Association (DAA). The DAA is required to operate the Altr platform and will facilitate the ability to sign contracts and agreements between several parties, pay invoices on behalf of the Altr platform, and own the IP rights of the Altr platform (read more here [FLP#0009]). This budget proposal will allocate funds to the newly established DAA.

We are excited to announce that the Altr platform successfully launched on January 5th. This soft launch was an essential step in demonstrating the platform’s capabilities and addressing any potential issues. We’ve been hard at work fine-tuning the marketplace and are now shifting our focus towards business development and marketing. Our goal is to increase partnerships and Web3 integrations and create awareness around the platform. We are looking forward to the full launch in early 2023 and can’t wait to see the impact the Altr platform will have.

To that end, a Business Development Lead for Web3 was hired as well as an additional Business Development Lead for events, auctions, and conferences in the collectible space. This will allow the Team to expand its reach and create new partnerships and opportunities. In addition, we have also hired a solidity developer as an important addition to the team as we approach the full launch.

Marketing efforts will extend beyond the online/Web3 community to reach luxury collectors and enthusiasts who may not be traditional Web3 users. Attendance at key events with exposure to high-end collectors will focus on engaging “offline collectors”, and bringing them online through our platform. For instance, Altr will have a presence at THE ICE St. Moritz on February 24th, organized by Kessel with Richard Mille as the main sponsor of the event. PR and communication efforts will also be ramped up, which will be executed with the assistance of a top-tier marketing agency. Furthermore, select members of the Core Team will be attending key events to access and engage with traditional luxury collectors and potential future Oracles.

The expansion of the team and increased focus on marketing and events is reflected in the increased costs in those respective line items. Higher legal costs at the frontend of this budget is due to the DAA incorporation and the finalisation of the T&Cs and privacy policy of the plaltform. The Lucidao treasury is healthy, despite the broader market turmoil in 2022, which means the project has sufficient funds to continue growing. A healthy treasury allows the team to continue developing the platform and bringing in new partnerships and opportunities as we seek to achieve adoption in 2023.

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