[GUIDE] NxM Funding Guidelines for Events

NxM is looking to fund music events for up to $1,000 per event that helps to assist the growth and development of NxM and its community.

Events should be focused on using web3 tech on the NEAR blockchain to engage audiences and artists alike. We will be looking to fund projects that are developed to the point of being able to produce an NFT ticketing event. These events can be in a physical venue, in web3 Metaverse spaces, or both.

Tickets should be minted from the NxM Mintbase store. By submitting a proposal, proposers agree that NxM receives a 5% royalty from initial ticket sales, as well as 1% forever royalty. These funds would go directly back to the DAO treasury to fund the following events, which help sustain and grow our community.

If your grant is approved by the NxM council, you are able to request 50% of funding upfront, and the remaining 50% is claimable after the event with a report submitted to the NEAR forum.

Timeline:

You can submit your proposal 6 days before the end of the month.

Submissions Process:

Create your submission by posting a “ New Topic ” on the Near Governance Forum with the following title: [Proposal] Your Project Name

For example - [Project Proposal] My New NFT

Use the following tags:

  • Where it says “uncategorized” type NxM and select the “Creatives / NxM Guild” tag.
  • In the “optional tags” box choose both “NxM DAO” & “Proposals” tags.

Your Proposal:

Fill in the main text input field with your detailed proposal!

Once you have completed your submission select the “Create Topic” button in blue at the bottom left to complete. You can always edit your proposal once you’ve posted it if you need to make changes.

Review & Approval:

All proposals will be reviewed by the NxM DAO Councils on the 1st of every month with a decision made by the 6th.

Approval will be given in the comment thread of your proposal on the governance forum and you will be advised on how to submit your proposal to the NxM DAO.

Guidelines:

To simplify the process your application proposal should contain the following information:

  • Proposed Date of your project
  • Purpose of Project (what do you hope to achieve)
  • Who is involved (including artists…)
  • What are your goals (why do you want to do this project)
  • Detailed budget (how much goes to who)

Tips:

  • Be honest and as detailed as possible
  • Include members of the NxM community
  • Incorporate NFTs (poster, gifts, art, collaborations) in your proposal
  • Try to engage artists who are not yet in web3 space
  • Use clear and simple English to convey your message
  • Ask for help from NxM community admins

JUNE UPDATE 2022

Due to issues of inappropriately used funds, we have implemented a curated list of community members eligible to apply for funding.

Application Process:

If you wish to be added to the list to be eligible for funding, you have to create a topic as an application in NxM Category on the NEAR forum, which will be reviewed by the NxM Council. Once your application will be approved you will receive a special Membership NFT.

Please include basic information such as:

  • NEAR name,
  • Background on your music career,
  • When did you join NxM,
  • What other communities in the NEAR ecosystem are you involved in,
  • Link to your music,
  • Do you own all rights to your music, including instrumentals.

Please do note that:

  • You can also buy the Membership NFT if someone would like to sell it,

  • If you sell your NFT, you will lose the privilege to apply for a grant, even when you are an active member,

  • If your proposal is approved, you need to wait for full funding round (1 month between proposals) prior to submitting another proposal,

  • Holding NxM Membership badge doesn’t mean that your proposal will be approved if the requirements above will not be met,

  • Council’s decision is the FINAL decision.

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