BUIP196: Marketing Team Budget Increase
submitted by Singularity
21 April 2023
In January 2023 BUIP184 was proposed to provide a budget to hire a marketing team to promote Nexa. This proposal was accepted by the B.U. members. Since then a team of three have been hired to cover multiple marketing duties to get the word out about Nexa. The work has already been a huge success, and we have significantly exceed all goals set out in the Nexa growth plan, and this was even achieved without crowdfunding for a further marketing budget as was originally expected in the growth plan.
We now have 30,000 followers on the Nexa twitter account, 11,000 community members on Discord and 6,500 members on Telegram. We have reached a ATH price of $45 per million NEX, a market cap of $100m, a daily volume over $10m, and have achieved all this organically.
We are currently running a crowdfunding campaign which, if successful, will provide a budget for paid activities such as competitions, community rewards, video production, sponsored content, an ambassador and more. Although these cost will be covered by the community, this will put further requirements on the marketing team to execute these activities.
The marketing team have been working hours far above what they are being paid for, and while no expectation has been established for these unpaid hours, they have done this out of commitment to the project.
As the project continues to grow, and they continue to successfully execute on marketing strategies, I see it as only fair that the team are more fairly compensated for the time and energy they are putting in to the project. This will also keep them in the project and focussed on the success of Nexa.
- Keep the marketing team working on Nexa and exceeding targets.
- Fairly compensate those working hard to make Nexa a success.
- Continue progress towards making Nexa a top 100 coin in 2023.
Budget of a maximum of $50,000 which will be put towards:
- Increasing the marketing team’s compensation to what is fair for the hours they are putting in.
- Providing extra budget flexibility to slightly expand the team if needed.
The elected BU officials: President, Secretary and Developer will jointly agree to the expenditures on this BUIP.