Hive Proposals - A New Age Funding Mechanism?
I am someone who comes up with a few different ideas for inventions or platforms each day. I am also a person who lacks resources and the necessary development skills to bring these concepts to life.
I have been giving a lot of thought to where I could pull funding or a team for different concepts and have always found myself thinking of traditional funding routes; something that seems wildly official and thus a turn off in terms of following through on the ideas that are a bit out of the ordinary.
Suddenly this morning it hit me... We have an entire decentralized fund on Hive that is literally there to support projects that we build on here.
Anyone can submit a proposal for 10 HBD and then 1 HBD/day that the proposal remains active. This proposal is voted on by the community and then the daily budget is paid out in order of most to least voted on project until the funding runs out. To climb the rankings you have to gather support from the Hive community and acquire votes!
Now sure, this fund has a total budget of just under 6 million HBD, and that has to be split between the entire community. So we don't have an entire venture capital firm's budget to support projects. However, the reason that I find this more appealing is exactly for that reason...
When you're pitching a project to a venture capital or investment firm, you are pitching your idea to one collective of people. Even in a large pitch, there will likely be less than 15 people in the room listening to your idea. With this Hive fund, you are pitching to the entire community, regardless of account size, reputation or location.
The community feel of this fund is what makes it most appealing to me as a funding source. Of course, people will only invest their HP into projects that will benefit the ecosystem or appeal to their own personal interest; but if one person isn't interested, you have thousands more to check out the proposal and provide support.
I will be writing a proposal in the coming days to fund a project that I think is long overdue here on Hive: a fantasy sports application accepting Hive and Hive-Engine tokens as payment. I plan on pitching a tournament style sports application as well as a P2P section for people to play fantasy sports contests against one another. Keep an eye out for that if you are interested in fantasy sports!
I don't know what the overall Hive community thinks of implementing a platform of this type, but I will be giving it a shot. Let me know if you have recommendations on what the proposal should include or look like!
@mariosfame gif once again, I love it:
@sgt-dan with this sick pic:
@gr33nm4ster made this awesome gif I needed to share, we thank him as well!:
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