In mid-April the Nexa Community and Marketing Team kicked off a crowd funding event with a goal to crowdfund 10B NEXA. The funds will be spent over the years to come, with some being spend during the rest of 2023, but the majority after this year. As of May 9th the current crowdfund is up to 40%, or 4B NEXA raised. Thank you to your wonderful community for continuing to contribute!
The short-term budget
For the rest of 2023 we will allocate 15% of the total sum that is crowdfunded, and at the end of the campaign, this 15% will get converted into a stablecoin like USDC to lock-in the budget and make sure the strategy can be executed as planned. Of course, this will be done in a way the market isn’t reacting to this, for instance, by exchanging OTC with respective known and long-term community members.
Each item in the budget will be ordered by priority and as the funding comes in, 15% of it will cover an increasing number of budget items in the list you can find underneath at “Strategy”. We will do our utmost to provide clarity to the community about when and where the funds are spent via updates on the official channels.
The long-term budget
As our project and community continue to grow, we recognize the importance of having a long-term budget in place to support our future plans and ambitions. With this in mind, we have reserved a significant amount of funding in the treasury, which we believe will provide us with the resources we need to compete with the bigger currencies and achieve our goals.
For instance, at current market conditions, 8.5B NEX (10B — 15%) is worth approximately $200k. By locking this value in the treasury for the years to come, and Nexa grows into the top 100, the market value will potentially increase, which will make the current crowdfunding worth a multifold of its initial. This will give us the ability to apply for top-tier marketing activities and exchanges, which will help us to reach a wider audience and achieve an even greater success.
What will we do with the funds.
For the rest of 2023 we will be experimenting with a number of different programs to bring awareness to Nexa and discover the most high ROI methods of doing so. Of course, we have certain strategies that are already in place and working well, that could be utilized even better by having additional resources.
If the donation threshold of 10B NEX is fully met, we will spend $50,000 on numerous marketing campaigns as detailed below. Might the threshold not been met, then we will allocate max 15% of the total donation pool and prioritize budgets accordingly. Underneath you find the items and budget based on a fully met threshold, but please find more in-depth details in the additional comprehensive marketing-plan that we will release early next week:
Written content program $4,000
Online Ambassador Program $4,000
Community rewards $2,000
Social media rewards $2,000
Marketing Software $1,000
Moderator reward program $5,000
Marketing team rewards $12,000
In-person Meetup Network $8,000
Key sponsored content $5,000
At the end of 2023 we will assess the knowledge gains from our marketing campaigns over the year and will adjust our strategy based on this and the technology plans for Nexa in 2024.
This strategy of course is depending on time, marketing conditions and similar. We are not in favor of spending funds when the overall conditions ask for a reserved approach, as much that we are not in favor of being reserved, when a pro-active approach is needed. You can count on the best decision taking in this matter.