The MSW – Monaco Swim Week – will be hosted during the Formula 1 weekend held on May 26th- 29th in Montecarlo – Monaco. During the event an NFT private members club will be launched. The aim of the club is to connect wealthy non-crypto individuals to the crypto world. During the event 50 unique NFTs will be minted that will grant access to the club and future red-carpet events.
During the four days up to 4 guests from Harmony will be able to participate at the event and within the dedicated lounge areas discuss about blockchain, NFT, art, fundraising and charity.
You mention maximizing ROI but how exactly will you do that? 70K+ EUR in ONE plus another 30K EUR is A LOT of money for one weekend and setting up a DAO. You’re asking for 100K EUR, most of which will be spent in Monaco over the course of a single weekend, and then you say you will build a DAO to expand “future growth possibilities” but I don’t see any specifics as to what those are and how they will generate cash inflows.
Thank you for the question. The 70k is the costs to be one of the sponsors of the MSW during the F1 weekend. This includes specific sponsorship lounges where the 4 members of Harmony can have 1to1 meetings to discuss and promote ONE with potential investors.
Regarding the DAO, first NFTs drop target is roughly ten times the request. New events will be combined with new drops/members.
Potential sponsorships can be discussed further in person.
This could possibly be beneficial for harmony.
From observations regards Monaco of course there is a lot of money around. However that kind of money is old money making Monaco slightly irrelevant. The principality do make an effort thought to make Monaco relevant to the 21st century money.
I would like to understand how can non-crypto wealthy could relate to crypto in such a relatively conservative environment.
A DAO on Harmony along i don’t think it will be enough to justify the investment.
Is the 70k for an exclusive sponsorship?
Have you done a market research?
Wealthy individuals they don’t spend their money on things that have not researched.
NFTs alone will not be enough imo
Having an exclusive crypto club in Monaco just to give NFT subscription, i am not sure how this will work. There should at least relate to something else. Thinking out loud - something like NFT all their art collection or to an activity that like yoga polo boats etc
A non crypto person is difficult to convert.
A wealthy non crypto person will be even harder.
I disagree on the point that old money is irrelevant. For the crypto market it’s a new opportunity to pull this “old money” out into the new world and explore new possibilities. For those who own this “old money” the crypto world is relatively new. So being one of the first cryptos in Monaco, disregarding that crypto.com is sponsoring the F1 and all the sport events for longer, I’m building a bridge between old and new by offering Harmony the opportunity to explain IN PERSON to “old money”, why they should invest in crypto.
The 70 k sponsorship is obviously not exclusive, considering how much companies are paying to F1 for being a sponsor.
Regarding the NFTs:
We are opening a physical club, even if crypto and NFTs will die tomorrow, the club will remain and guarantee each member access to other wealthy people, (crypto and non-crypto), to expand a member’s network. Access to the club is through artworks which are all physical prints AND NFTs at the same time.
The 30k are a symbolic act to secure that the DAO and transactions are happening on Harmony and not on another network. Harmony can just sponsor the MSW or just discuss how to integrate the club into ONE. We are open to suggestions and obviously your feedback.
I am not wealthy or live in Monaco so I don’t know all the ins and outs. However, I have done some research a while ago and found out that because the “old money” is in properties physical assets etc Monaco is struggling to be relevant. So, the Principality is trying to attract the “new money” with various projects and initiatives so they can continue to collect VAT tax from trade since it is the only source of income for Monaco.
Is there any program that can support what you are trying to do?
Wealthy people don’t just buy things. To work with the “old money ”also I believe there has to be an association with physical objects/ assets IMO.
Sticking the logo on an F1 car will not do anything for Harmony.
I think you have something good going on here; however, it needs planning and work. It will need some further marketing research.
Is there a blockchain tech solution that can be offered to an F1 team? We can research into it. Something like that will add value to the Harmony sticker on an F1 car.
I think you are on an interesting path just need to fine-tune things. Imagine you are a business development manager and this was your project.
Possible we can collaborate, me and you and see if we can deliver something next year or at another event.
Why don’t you tell the Harmony community about yourself a bit? Do you live in Monaco or you are working there.
About this club that you mention is it already built? Who is financing it? Can we work with them in the long term?
Hard no from me, if you want to network, dont ask for money to do networking
to me it seems like you are just asking for money to have a luxurious time in monaco but then threw in some low effort stuff to make it seem like this will somehow benefit the ecosystem
Thank you for your interest and for bringing this to our forum, @lastunicorn
Unfortunately, we are not sponsoring any events at this time. We sincerely apologize for the dilemma and wish you the best in your initiatives.
We welcome you to check back on the forum for more updates regarding events funding status.