chat w/ SIP-29 authors 🗣 social impact event w Game Jam winners 🚀

The Spaces discussed the SIP 29 proposal aimed at raising social impact funds through a gaming event hosted on the Sandbox platform. Co-authors Malek from Radical Exchange and Alatif talked about leveraging blockchain and decentralized technology to empower communities globally. They highlighted partnership with two NGOs in Argentina and Guinea, aiming to raise funds through the sale of NFTs with a prize pool administered by the Sandbox DAO. The discussion also included comparisons to the previous Red Cross SIP, differences in prize distribution, and efforts to engage a broader community to ensure a successful fundraising initiative.

Summary of the Twitter Spaces Recording on SIP 29

Introduction and Context

The conversation, hosted by Sandbox, involved two key representatives from Radical Exchange Foundation—Mali Kakubai and Avatev. They discussed SIP 29, a proposal centered around using web3 technology to foster social impact through Sandbox's gaming ecosystem. The goal is to host an event that raises funds for NGOs through NFT sales, leveraging games designed for positive social engagement.

Overview of Radical Exchange Foundation

Radical Exchange Foundation is a 501(c)(3) nonprofit aiming to use decentralized, open-source technology to empower citizens and organizations globally. Founded by Glenn Weyl and supported by known figures like Vitalik Buterin and Audrey Tang, it's a think tank and experimental lab promoting change in governance and democracy.

SIP 29 Proposal Details

• Objective: Host a live event showcasing top games from a previous Game Jam competition to raise 60,000 SAND through the sale of NFTs.
• Mechanics: 2,000 NFTs priced at 30 SAND each will provide access to the gaming experience. Proceeds will form a 30,000 SAND prize pool.
• Fund Allocation: 95% of funds raised will be distributed to two selected NGOs in Argentina and Guinea; 5% goes to Radical Exchange for administrative support.
• Event Timeline: Voting on the proposal starts tomorrow and, if accepted, the event will be planned for mid-July.

Differences from Previous Red Cross SIP

1. Distribution Control: Unlike the Red Cross SIP, the prize distribution will be managed by the DAO admin team to prevent oversight issues.
2. Smaller, Targeted Raise: The financial target is more modest and focused on direct impact.
3. NGO Engagement and Community Onboarding: NGOs involved are actively engaging their communities, offering training on web3 ecosystems to increase grassroots understanding and involvement.

NGO Selection and Strategy

The selected NGOs, based in Buenos Aires and Guinea, focus on empowering local communities using technology, with plans in place for local events to bolster real-world and metaverse connections.

Marketing and Activation Plan

• Community Engagement: Leverage Radical Exchange's global online platforms and potential collaborations with web3 influencers.
• Upcoming Events: Plan to feature the initiative at international blockchain conferences such as ECC and host webinars for potential non-web3 donors.

Challenges and Considerations

• Risk Mitigation: Explore contingency plans and weekly sales evaluations to optimize NFT sales outcomes.
• ROI Concerns: Questions were addressed about the SIP's ROI, emphasizing community expansion and ecosystem engagement as success metrics.

Final Remarks and Governance

The hosts encouraged community participation and emphasized the importance of governance in adapting and approving proposals. They invited ongoing engagement through forum discussions and reminded participants that proposals can be revisited if initially unsuccessful.

Closing Thoughts

The session concluded with acknowledgments of the hard work by the Radical Exchange team and Sandbox, highlighting the critical role of nonprofits in driving social impact through innovative technological solutions.