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.