Alien Worlds Funds Metaverse Innovation with Galactic Hubs Grant Program — Applications Open
In a decentralized metaverse that strives through the participation of all who populate it, we want to give TLM grants both to fund projects but also perhaps more significantly to make more people who have evidenced an ability to grow the system technically or through community innovation. It is a mechanism to incentivize and grow the metaverse in a collaborative way that can only be powered by web3 applications. The vision is to provide agile, efficient, and resilient programs to meet the needs of the growing Alien Worlds community and its contributors.
Main Objectives of the Galactic Hubs Grant Program:
- Provide funding to accelerate the growth of the Alien Worlds ecosystem and the broader community
- Add infrastructure tooling for Alien Worlds
- Attract and reward a diverse set of open-source driven projects
We are running the Grant Program via judges and a Dacoco administrator to learn how to effectively give grants in the metaverse. In the past, many blockchain projects have encountered issues giving grants in a totally decentralized way straight out of the gate. Understanding these challenges posed by decentralized governance and potential ways forward are primary objectives of this pilot. Processes and frameworks will continually be refined to identify potential points of failure associated with consensus, tracking activities, monitoring requirements, risk assessments, and payments.
Common problems associated with a decentralized grant management process:
• Lack of understanding of the entire process
• Inadequate written procedures and oversight
• Grant records are maintained poorly
• Non-compliance with grant provisions
• Non-compliance with data protection, AML and CTF regulations
In the future, we expect proposals to be governed by blockchain technology and to be integrated with the grant management system that Galactic Hubs and grant seekers use to manage day-to-day operations, with the goal of streamlining record-keeping processes and increasing community involvement.
Grant Process ¹
A maximum number of grants by category and size are defined in the table below. Grant limitations are established to provide sufficient processing periods to effectively evaluate applications. The quantity of grants indicated in the table are maximum limits and therefore not a pledge to the community. The number of grants depends on the quality of applications submitted over the application period timeframes. Please note that the evaluation of grant applications and the allocation of grants will at all times be subject to the Evaluation Committee’s sole discretion.
Accelerated Grants will be processed on a rolling basis throughout the nine-week application period from 16 May to 16 August. If, and when the threshold of a category is achieved, applications for the respective category will close.
Development Grants will be screened, ranked, and shortlisted throughout the application period. On 29 June, category judges will be provided a list of finalists from which they will choose 1 to 2 projects to inaugurate. Finalists will have from 22 July to 19 August to complete and deliver their projects. Category judges are then given three weeks to evaluate, and score projects. On 20 September, the first wave of Development Grants will be announced.
When assessing whether project applications are initially accepted, the Administrator’s goals are to identify the following ².
Public Benefit: A clear link between the concept and the larger Alien Worlds community and the degree of need for the solution.
Innovation: Ideas that bring value and something new.
Clear Use of Funds: Transparency in use of funds for the achievement of project objectives.
Execution Skills: Demonstrated team’s ability to execute the idea.
When an application is approved into the final evaluation phase, a total score of 14 out of 20 is required to pass. Directors and Category Judges decide which projects to award grants with consideration to the scoring of the project.
- How well the work provided meets the applicant’s desired outcomes discussed in the project’s application (SCORE 1–5)
- Complexity of the work provided (SCORE 1–5)
- Quality of execution of the work provided (SCORE 1–5)
- Extent to which the project is creative and innovative (SCORE 1–5)
Decisions are fully discretionary and, subject to the exceptions set out in the terms and conditions, will be final with regard to all matters, including:
- Grant approval
- Grant funding to be awarded
- Conditions attached to the offer of grant funding
Pioneer Grants are reviewed by all Category Judges independently. As part of their discretionary assessment, Category Judges follow the same grading system mentioned above. An average score of 14 out of 20 is required to pass and be awarded a grant.
Subject to the terms and conditions, the grant amount requested in the application will be awarded following successful evaluation, unless:
- It has been renegotiated prior to the evaluation phase
- The project fails to achieve at least a 14 out of 20 score in the final phase
If you have the interest, experience, and skills to deliver on any project within the scope of the grant categories currently open, we invite you to submit a proposal for funding and join us in building out the future of the metaverse starting today! Register and apply at https://ghubs.alienworlds.io/.
¹ The description below is for illustrative purposes only and, in all respects, subject to the applicable terms and conditions, available under [https://ghubs.alienworlds.io/]
² Without prejudice to the discretionary nature of any such assessment, additional criteria may apply, please refer to the applicable terms and conditions.
Alien Worlds Offers the Social Metaverse to Play, Create, Share and Thrive!
With more than 7 million players ever and more than 6 million plays per day, Alien Worlds is consistently one of the top blockchain games on DappRadar ranking charts. Alien Worlds has inspired creators to create, share and thrive in the Social Metaverse. The Federation would like to thank all Explorers for making this possible.
About the Alien Worlds Social Metaverse
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