Grant Proposal for Vrtuhub - Home of esports
Hey, I am BIlal Khan, OG venus community member and I’ve been working on this idea turned project turned business for little over a year now. I had some setbacks but I’ve kept working at it. I’ve got a unstoppable vision and I’m at a point where feel comfortable to ask Venus for a grant so we can take this to the top.
I’m presenting a grant proposal for Vrtuhub, a groundbreaking platform that aims to revolutionise the esports industry by seamlessly connecting crypto projects with the electrifying world of esports. Website is live and if you have the time give it a look at www.vrtuhub.com. I will be adding more features as they become available and I’ve designed it all myself so the site shows real character
Vrtuhub is an innovative platform designed to bridge the gap between the booming esports market and the untapped potential esports has within the crypto community.
Our goal is to help crypto projects forge esports teams, organise virtual events, and host tournaments, enabling projects to reach a new audience, enhance brand awareness, and forge stronger connections with communities. We broadcast our events with commentary, ensuring that the whole community can tune in and enjoy the action, including those who are not playing.
The esports market has experienced exponential growth, with its value reaching a staggering $1.72 billion in 2023 and projected to skyrocket to $6.75 billion by 2030. The video gaming and esports market is rapidly expanding, as evidenced by significant investments, such as Saudi Arabia’s $38 billion investment to become a video game hub. The Olympics have even launched an Olympic Esports Series in 2023, further solidifying esports’ mainstream status. This dynamic industry captivates millions of viewers worldwide, reshaping the entertainment and gaming sectors.
By entering this explosive market, Vrtuhub aims to empower crypto communities and position them as a driving force within the esports industry. Crypto projects have largely ignored esports in favour of focusing on metaverses and web 3.0, despite the esports being much larger, more fun and enjoyable on game consoles, PCs, and mobile devices etc.
Shopify has its own esports team called Shopify Rebellion and some of these tournaments on youtube for the dota 2 championship have amassed over 200k video views with many reaching over a million views. Crypto projects have an opportunity to reach this mainstream audience so those that don’t understand esports are missing out big.
Many crypto projects have vast and diverse communities and active users on platforms like Discord, which serve as the gaming hub at the heart of esports. Vrtuhub aims to bring all these elements together, creating exciting, action-packed entertainment for everyone. Having multiple projects participating allows for teams to pool together their marketing resources for a big event. Having multiple projects taking part to enter and contribute towards the prize pool makes esports a cost effective for everyone involved.
Benefits for crypto projects involved:
Unite Crypto Communities: Our esports events aim to bring together crypto communities, enthusiasts, and gamers from across the globe. By participating, you’ll have the invaluable opportunity to connect with like-minded individuals, foster powerful alliances, and build a strong presence within the crypto space.
Amplify Brand Exposure: Take centre stage and expose your brand to a vast global audience of crypto enthusiasts, racing fans, and esports aficionados. As the event is live-streamed and promoted across various digital platforms, your project will enjoy maximum visibility and exposure, leaving a lasting impression on millions of eyes and minds.
Community Empowerment: Imagine the thrill of your community members actively engaging in a thrilling and competitive environment. By forming a community-backed esports team, you empower your supporters, giving them a chance to showcase their skills and dedication on a global stage. This strengthens the bond between your project and its community, fostering loyalty, dedication, and a shared sense of achievement. By competing against other teams you’ll get all these different communities watching your team.
Prizes and Recognition: As the engines roar and the virtual racetracks ignite with excitement, Vrtuhub esports events offer enticing prizes and well-deserved recognition for the top-performing teams. Claim victory and bask in the glory of accolades within the crypto community, cementing your project’s place at the forefront of innovation and achievement.
Benefits for Venus Protocol:
Exposure to a High-Growth Industry: Aligning itself with the fast-growing esports market, Venus Protocol can increase brand visibility and capture the attention of a global audience, further expanding its reach and influence.
Expansion of the Crypto Community: Vrtuhub aims to bring together crypto communities, enthusiasts, and investors from around the world. By sponsoring esports events, Venus Protocol can foster powerful alliances, connect with like-minded individuals, and strengthen its presence within the crypto space.
Prominent Brand Recognition: As Vrtuhub’s key partner, Venus Protocol will enjoy brand exposure during live-streamed events and across digital platforms. This exposure will leave a lasting impression on viewers, reinforcing Venus Protocol’s position as an industry leader and driving brand recognition. This will last for a duration of two years but could be extended later.
Increase $VAI Adoption and Awareness: Vrtuhub will charge the entry fee (excluding the prize pool contribution) for our tournaments in $VAI. We are not limiting ourselves to BNBChain, so if projects on other chains are unable to pay in $VAI, we will also consider other stablecoin offerings.
Participation and Discounts: Vrtuhub will offer Venus Protocol a 25% discount on entry fees for future events in which it participates. This discount does not apply to the prize pool contribution.
I am seeking a funding amount of $14,000 $VAI from Venus Protocol to support the launch and initial startup operations of Vrtuhub.
- $9,000 will be used to develop the brand and acquire the necessary equipment and setups needed to professionally broadcast virtual esports events.
- $5,000 will be used to fund the initial debut championship. This amount also covers the entry fee for Venus Protocol and includes a ($600 entry fee + $1400 prize fee contribution) The remaining $3,000 will be used to pay for commentators, stream directors, studio/venue hire, and other associated costs.
To generate revenue and sustain the platform, Vrtuhub charges an entry fee for projects that participate. The preferred payment for the entry fee is in $VAI, the stablecoin offered by Venus Protocol, creating a seamless integration between Vrtuhub and the crypto ecosystem. However, we understand that $VAI is currently only available on BNBChain, so we will consider alternative agreed-upon currencies for projects not on the BNBChain or facing difficulties in paying in $VAI. This decision ensures inclusivity and prevents us from losing potential market share to competitors that we expect may arise once we go to market
This project will be open for all, and projects ‘pending approval’ can create their own team page, manage events and players, create and post blogs and experience lucrative marketing potential. A team dashboard will be available for full control, I’ve got big ambitions here
Venus Protocol iRacing Championship:
iRacing is a premier SIM racing title embraced by both professionals and passionate enthusiasts. This immersive gaming experience places gamers in complete control of their virtual cars, utilising meticulously crafted physics models to replicate the thrill and authenticity of real-world racing. To ensure the widest possible audience, the event will be broadcasted on streaming service and accompanied by professional commentary.
This debut championship comprises four thrilling weekend races. As part of their participation, each project is required to contribute a $600 VAI entry fee, demonstrating their commitment to the event. Additionally, they must contribute $1400 VAI towards the collective prize pool. This contribution from each project will allow for a bigger prize pool to attract more attention. We are aiming to have at least 15 projects take part in this initial championship. This championship presents an opportunity for Venus to showcase VAI to all the projects involved, sparking conversation and generating buzz across various social media platforms. By positioning VAI as a stablecoin, this event will intrigue projects to acquire and utilise VAI, thereby bolstering liquidity and augmenting awareness of this esteemed cryptocurrency within the crypto community.
By combining the exhilaration of iRacing with the prestige of the championship, we are poised to captivate audiences and foster an environment of intense competition. The utilisation of VAI as the primary currency for entry fees and prize contributions strengthens its position as a reputable and valuable digital asset. As projects eagerly participate and engage in this grand event, the increased demand for VAI further enhances its liquidity and firmly establishes it as a prominent stable coin within the crypto landscape.
Lead Sponsor, Game, Event Type , Sponsor + additional sponsors.
We have developed a sustainable business model for Vrtuhub. Each event will have sponsors covering the initial fees and setup costs. For this instance, Venus Protocol will serve as the Lead Sponsor, while iRacing will be the selected game for the championship. Additional sponsors can join the event to provide further support.
For future championships, Venus Protocol can be replaced by another lead sponsor, and different games and event types can be chosen. For example, “Pancakeswap Rocket League Championship | Dlive.” Further sponsors and marketing opportunities will also be made available.
The Vrtuhub championship winners will be rewarded with an enticing prize pool, which is made possible through the collective contributions of all participating projects. This innovative approach not only adds an extra layer of excitement to the tournaments but also serves as a catalyst for expanding the reach and impact of the projects involved. By offering substantial prize money, we aim to captivate the attention of not only gamers but also professionals within the esports industry. The involvement of skilled players and influencers further enhances the event’s publicity, attracting a broader audience and generating increased buzz within the gaming and crypto communities.
In our pursuit of dominating the crypto esports market, we recognize the importance of flexibility and catering to the diverse needs of the entire crypto community. $VAI will be our preferred currency and we will encourage projects to pay in $VAI, we understand that some projects on alternative blockchain networks may face limitations in utilising this specific stablecoin. As a result, we are dedicated to fostering an environment that accommodates and supports projects from various chains and communities.
In order to ensure the utmost accessibility and cater to the evolving needs of our diverse community, we acknowledge that lead sponsors want their prize pool to be in their own currency so we do expect future arrangements where entry fee is paid in VAI (or an alternative) and the prize pool is awarded in the lead sponsor’s preferred currency such as the prize pool being awarded in cake tokens. Our commitment to dominating the market is closely tied to our ability to demonstrate flexibility and evolve alongside the ever-changing crypto landscape. We firmly believe that maintaining a low barrier to entry and offering flexibility are paramount to our success. By removing unnecessary walls, we create opportunities for partnerships and collaborations, while safeguarding against potential competitors who might attract customers with greater adaptability.
By remaining closely aligned with Venus and establishing them as a key partner whilst still allowing us to remain open and inclusive to everyone, thereby solidifying our position and capturing the entire market. Furthermore, as VAI gains wider acceptance and becomes accessible on multiple blockchain networks, we anticipate a surge in transaction volume for $VAI. This increased adoption will further enhance its market liquidity and solidify its position as a stablecoin of choice, offering even greater benefits to our participants.
We have observed that gaming projects often focus their efforts on targeting individual players and consumers, rather than directly appealing to communities within the crypto space. We believe that by engaging with these communities, we can cultivate a larger audience and leverage their combined marketing reach. This approach not only expands the scope of our initiatives but also presents an opportunity to create a more captivating, enjoyable, and competitive package for all participants involved.
To facilitate this collaborative environment, we have developed a dedicated teams and players page on our website and discord. This platform serves as a hub where projects can enlist their involvement and actively contribute to the growth of an esports community and following. We also have a blogs page where teams can post content for easy accessibility and for bringing together diverse projects, we aim to introduce the concept of esports to the crypto industry and establish our dominance in this rapidly evolving field.
What we do:
Tournament Hosting: We host tournaments for crypto projects, allowing them to reach a new audience, build brand awareness, and connect with their community.
Community Building: We partner with crypto projects to assist them with managing and growing their eSports team.
Content Creation: We create content for crypto projects, such as highlight videos, interviews, and blog posts, to help them promote their brand and engage with their community.
We have observed a prevalent trend within the crypto space where some projects hold the expectation that everything should be provided for free, including free entry to events, prize money, and the coverage of associated costs. This phenomenon poses a recurring challenge for the integration of gaming and crypto. To gain a deeper understanding of this issue, we have engaged in conversations with various industry players.
One notable observation is that gaming projects typically address these “expectations” by creating their own crypto token to fund their operations comprehensively. They offer free entry to participants, award prize money in their own token, and cover costs by selling their token, essentially forming a closed-loop ecosystem. While this approach may initially seem attractive, it ultimately leads to an unsustainable model that eventually collapses.The underlying assumption behind this approach is that by offering everything for free and covering costs with their token, projects will gain significant brand exposure and attract investors to buy their token propping up value. However, this strategy often fails to deliver the desired outcomes and falls short of expectations.
Another challenge we have identified is that most crypto projects do not currently have their own esports teams and are relatively unfamiliar with the esports industry. Consequently, they fail to recognize the demand and potential within this mainstream market. Some community moderators and project representatives are reluctant to even read about esports let alone embrace it, perceiving it as unrelated to crypto, not something anyone is doing and simply not worth their time. This presents both a challenge and an opportunity. This opens up an opportunity to introduce esports to these projects, create demand, and foster excitement within their communities. We aim to address this challenge through this partnership with Venus Protocol and the debut race we are planning with Venus protocol and its partners. By showcasing the potential of esports and generating excitement within those communities, we are confident that projects will become more receptive, ask for more and entice others to get involved.
Vrtuhub has taken on the challenge of convincing projects to venture into esports, establish their own teams, and pay an ENTRY FEE. We firmly believe it is the only viable path to establish a sustainable business model and merge crypto with esports. Introducing an entry fee ensures that Vrtuhub can deliver high-quality, professional events while maintaining a sustainable financial structure and an operational business.
Vrtuhub represents an exceptional opportunity to merge the worlds of crypto and esports, inviting crypto communities to be a part of something extraordinary. Our mission is to foster a dynamic ecosystem where projects, players, and crypto enthusiasts converge. Through this inclusive approach, we envision a future where the boundaries between projects and gamers are merged resulting in enhanced engagement, broader exposure, and a thriving esports community for every crypto project to own.
Join us in this thrilling fusion of crypto and esports and we will position $VAI as being our preferred stablecoin payment and bring Venus the attention and publicity of the esports and gaming worlds and increase awareness within the crypto space.
Thank you for considering our funding proposal. If the Venus Community has any questions please post them below. I am excited about the prospect of partnering with Venus Protocol and look forward to discussing the details further.