We are after feedback ahead of a governance vote:
Introduction
Our plan for LunaFest is to create an annual event powered by the Terra Luna Blockchain giving unique opportunities for the crypto community to gather, share ideas, have fun and most importantly help to onboard and embrace the non-crypto community!
LunaFest will be focused on live bands, world class DJ’s and entertainment, and will feature exclusive opportunities to learn about cutting edge decentralised technologies within the Terra Luna and wider ecosystems.
Aside from the main stage and arena the Crypto and Blockchain Zone will provide festival goers the chance to immerse themselves in cutting edge ideas, use-cases and experience artists showcasing NFT’s.
An additional focus of the festival is to provide an experimental incubator ecosystem, whereby crypto is the currency of choice for artists, performers, traders, suppliers and attendees. This will be a festival with UST transactions right at the core!
We have capacity to host thousands of LUNAtics, crypto enthusiasts and onboard hundreds of non-natives at the event – expanding our ecosystem even further. Above all LunaFest brings together the smartest minds in the industry for 3 days & nights of fun!
Proposal
The first major festival will be a 3 day/night event held during 2023 in the UK, hosting thousands of guests in the grounds of Stapleford Park Hotel, a stunning British stately home.
We plan to host one major event per year, with profits from the previous year scaling the offering up each time and through this for LunaFest to become a valuable part of the crypto calendar.
The aim is to provide mutual support to and work alongside the TeFi Alpha team, offering a wide-scale music event, and like them, working to onboard non-natives into our crypto community.
Funding
We are looking to the Luna community for funding, not to pay for the event but to operate as a yield bearing provider through Anchor protocol, which will allow us the seed capital to pay festival deposits, apply for licensing and planning costs, staffing / advisory roles and travel expenses.
To achieve this we’re applying to the community for 1.9M UST to be locked in a multi-sit wallet, essentially serving as an endowment income for LunaFest establishment.
EDIT 28/12/2022 following discussions with Amani at TFL we propose we will lock the funds in a secure multi-sig wallet where the team do not have access (proposed signers @TheRyanLion @iii_OIO_iii @OriginalRocka) to only provide the yield for proposed costs outlined below.
The festival will ultimately be self-funded via ticket sales, protocol donations and sponsorship to which early interest has been significant.
We plan on initially running 3 festivals over three years, concluding in a community input voting event to determine the direction / continuation of LunaFest. If LunaFest concludes, the original endowment principal will be returned - in full - to either the community fund or voted to be directed to charity funding through an entity such as Angel Protocol or a combination of both. Whatever the direction, this will be entirely down to you the voters. We believe this model makes this truly your festival!
LunaFest will remain a non-profit organisation, so all revenues generated will be spent on future festivals. Residual funds from each festival will be locked within multisig wallets for subsequent events.
Headline forecasts
First event costs over next 18 months:
· Staffing (2 full time, 4 part time) 255,000 UST
· Venue deposit: 100,000 UST*
· Site Builder: Planning / Legal etc 40,000 UST*
· Media / Creative & Commercial 100,000 UST
· Artist & Keynote speakers 55,000 UST*
· Travel: 3,000 UST
· Office expenditure & expenses 10,000 UST
Total: 563,000 UST (GBP equivalent).
Endowment income 1/22 to 6/23 570,000 UST
Surplus for contingency planning 7,000 UST
*Deposits refunded from revenue generated from ticket sales in year 1.
Festival Forecast Income Generation
Market research and community polling suggests 495 UST is a reasonable entry price.
1950 tickets purchased at face value = 965,250 UST
30 VIP stay in house @ 4999 UST = 149,970 UST
100 Luxury Glamping (VIP events) @ 999 UST = 99,900 UST
Advertising and sponsorship = 60,000 UST
Total Revenue 1,275,120 UST
All festival goers will have the flexibility to pay with fiat currency, which will then be converted to UST.
The Team
LunaFest has compiled a group of experienced and dedicated team-members, with a wide range of skills necessary to execute such an event.
Full Time
Ian Kerr / @IanLunaFest – 20 years experience in the events industry, founding and operating a globally recognised market-leading hospitality brand.
Andy Raisen / @Andre_Luna_Moon – Sales and Marketing professional for over 20 years. NFT artist and community engagement expert.
Part Time
Stu McCardle / @Stuperhuman – Creative & Media Lead, Film & Documentary maker - helping to make LunaFest a commercial success, from teaser videos to long form promotional content & live streaming.
Roger Davies – Technical lead / Advisor / Block Producer / Validator - 25+ years career as an internet consultant and web app agency CEO, BitcoinNottingham.org Meetup group OG/coordinator and inventor of decentralised keywords on a layer 1 blockchain.
Harrison Bloor - Commercial & Growth - Supporting LunaFest in partnering with the biggest and most recognised brands.
Accountant. TBC. Managing all things financial and accountable.
Advisory
Ryan Olah / @OriginalRocka - Crypto events specialist, TeFi Alpha team member. 20 years experience in festival events, planning, and production.
Trevor Ogata / @TwiceInABluMoon – Ticketing and event logistics for TeFi Alpha. TIX Protocol Founder and member of Angel Protocol’s core team.
Chris Coleman - Business and Finance expert. Career in banking, fundraising and as an NED / Consultant for fintech businesses.
Sarah Main - Artist consultant, Pacha resident DJ, NFT artist and all round Luna enthusiast.
Edit 19/12/2021 - Additional link to our Twitter Spaces “Meet the Team & AMA” 19/12/2021 LunaFest Introduction and AMA – TerraSpaces
Edit 21/12/2021 - We will have a weekly AMA on Sunday evenings on Twitter Spaces at 7pm and also we will have a quarterly open budget session for transparency around cost and spend which will include an AMA around this subject
Edit 28/12/2021 - Twitter spaces AMA answering questions regarding governance vote and proposal. LunaFest AMA Governance Chat – TerraSpaces
