Sei Launches Second Round of Creator Fund for Media and IP Development

The
Sei
Foundation
has
unveiled
the
second
round
of
its
Creator
Fund,
a
$10
million
initiative
aimed
at
fostering
innovation
within
the
Sei
ecosystem.
This
round
focuses
on
creative
media
and
intellectual
property
(IP)
development,
with
a
$250,000
USD
matching
pool
to
support
projects
and
individuals
contributing
to
Sei’s
creator
ecosystem,
according
to

Sei.

Overview
of
the
Sei
Creator
Fund

Launched
on
June
4th,
2024,
the
Sei
Creator
Fund
has
already
made
significant
strides
in
encouraging
community
engagement.
The
first
round,
known
as
The
Kickoff
Round,
saw
a
$250,000
matching
pool
supporting
63
projects,
with
2,707
unique
voters
participating.
The
overwhelming
response
set
the
stage
for
subsequent
rounds,
demonstrating
strong
community
involvement.

Details
of
Round
#2

The
second
round
focuses
on
creative
media
and
IP
development,
covering
areas
such
as:

1. 
   IRL
   Video
   Content:
   Videos,
   vlogs,
   live
   streams,
   etc.
2. 
   Podcast
   Hosting:
   Twitter
   Spaces
   and
   YouTube.
3. 
   Video
   +
   Animations:
   Informative
   content
   and
   entertainment.
4. 
   Storytelling:
   Lore
   and
   IP
   around
   Sei
   and
   its
   ecosystem.

New
content
series
and
media
are
encouraged,
and
a
referral
bonus
of
3,000
$SEI
is
offered
if
the
referee
places
in
the
top
10.
GAP
milestone
tracking
is
required
to
participate.

Application
Process

Applications
for
the
second
round
open
at
noon
EST
on
Wednesday,
July
31st,
and
close
at
noon
EST
on
Monday,
August
5th.
Voting
and
donations
will
commence
shortly
after
on
the
Gitcoin
Platform.
Interested
applicants
can
access
Sei’s
Gitcoin
dashboard
to
apply
and
vote.

Quadratic
Funding
and
Cluster-Matching

Quadratic
Funding
(QF)
is
employed
to
allocate
funds
based
on
community
donations.
This
mechanism
pools
small
donations
from
many
contributors
and
matches
them
with
a
larger
central
fund
provided
by
the
SEI
Foundation.
Cluster-matching
QF,
an
evolution
of
the
traditional
QF
model,
is
designed
to
reduce
collusion
and
encourage
diverse
support
by
grouping
donors
into
clusters
based
on
similar
donation
patterns.

Milestone
Tracking
with
GAP

The
Sei
Foundation
has
partnered
with
Karma
GAP
to
ensure
grantees
remain
accountable.
Grantees
are
required
to
use
Karma
GAP
to
create
milestones
and
provide
progress
updates,
ensuring
transparency
and
accountability.
To
be
eligible
for
future
rounds,
grantees
must
share
their
progress
and
explain
how
they
utilized
the
funds
via
milestone
tracking.

Impact
and
Vision

By
supporting
projects
across
various
categories,
the
Sei
Creator
Fund
aims
to
build
an
ecosystem
that
caters
to
a
wide
range
of
user
needs
and
use
cases.
This
initiative
leverages
the
largest
and
longest-running
Web3
grants
program
to
foster
innovation
and
development.
Notable
projects
that
have
benefited
from
Gitcoin’s
funding
include
Uniswap,
1inch,
and
WalletConnect.

Applications
for
the
second
round
of
grants
are
now
open.
Teams
and
individuals
contributing
to
the
Sei
Creator
ecosystem
that
meet
the
eligibility
criteria
are
encouraged
to
apply.

About
Gitcoin

Gitcoin
creates
technologies
and
opportunities
that
empower
communities
to
fund,
build,
and
protect
what
matters.
Through
its
Grants
Program,
Gitcoin
has
distributed
over
$60
million
to
early-stage
builders
championing
public
goods
initiatives
in
decentralized
finance
(DeFi),
climate,
open
sourcing,
and
more.
Core
products
include
Grants
Stack,
an
end-to-end
grants
management
solution,
and
Allo
Protocol,
a
decentralized
capital
allocation
tool.

Note:
This
announcement
is
for
informational
purposes
only
and
does
not
constitute
financial
advice.
Please
conduct
your
research
and
evaluation
before
participating
in
any
project.

Image
source:
Shutterstock