[Draft] Business Agreement with Marketing and Consulting Firm


#1

NuBits should employ professional marketing. During my trip in Vancouver I spoke with a marketing and blockchain advisory firm that in addition is able and willing to let NuBits pay contractors and services using cryptocurrency. They can enable easy compliance with regulations in Canada and increase the chances of hiring qualified competence.

Expertise and collective resources of an established marketing business will likely never be matched by our own. I propose that NuBits enters an agreement with the firm to get premium marketing with dedicated resources working for NuBits’ brand and project development that our team can turn to and utilise for more efficient use of our time.

The firm has reach to represent NuBits across different regions of the world. They can pursue exchanges for listings, and ensure availability of the knowledge necessary for customers, investors, and merchants in relevant languages.

Funding

  • 180,000 USNBT for 6 months of marketing services by established professionals.
  • 20,000 USNBT for additional expenses.

Passing of this motion authorizes Esko to enter agreements and utilize these funds on behalf of NuBits’ shareholders for purposes of marketing NuBits and NuShares. Liquidity Operations is made responsible for keeping the fund and execute payouts on request of Esko.

One-time payment of 1.5% of circulating supply shall be considered by shareholders in a separate motion once the services provided by the marketing firm have been evaluated. They suggest after around 3 months.

Action Plan

NuBits enters an agreement with a 60-day graceful termination clause. Esko may publicly represent NuBits.

Esko takes primary responsibility for relationships with the firm, but its services are available for the NuBits’ team where appropriate. We will have continual contact with a NuBits-dedicated project manager and they will work on their own for the benefits of NuBits.

Since an immediate importance is to get developers working on shareholder-requested changes to NuBits Protocol and Wallet, the mentioned firm will first focus on helping us fill the positions we’re currently advertising, and in the future any position created by an authority for NuBits, such as the Chief of Liquidity Operations.

Public events may be arranged or sponsored to attract talent and increase publicity of NuBits. A possibility is a hackathon by NuBits where we can immediately observe candidates at work and evaluate their viability as team members, in addition to valuable ideas and discourse of creative participants in a positive open setting. Hosting such an event might cost $5,000+. Sponsoring an event is an attractive alternative.

–
Esko (jooize)
Manager of Liquidity Operations


NuBits Future Report and Jobs
#2

Here is my response on your draft:

I believe it is a lot of money which can be easily spent by a few external people without delivering anything substantial leaving shareholders with something like a pump & dump and nothing concrete. I believe Marketing is inherently light on clear deliverables and obviously good at selling itself. So care need to be taken.

In general I support this proposal but would like to see more clarity around what is actually delivered and what the targets are before any serious commitments are made. Payments should also be at least partially dependent on delivering those targets. I’m also keen to see them working as part of the team and sharing their knowledge with the team instead working as an adviser/consultant leaving Nu with virtually empty hands when the contract ends.

For example organising a public event to attract talent should be tied on success e.g. 50% paid for the event and 50% as a bonus (NBT, shares or maybe even better options to ensure durable deliverables) when we can actually secure one senior developer with at least a 6 month contract. This is an example and each deliverable may have another payment schedule to it.

Not sure about the media training when we are hiring a marketing company at the same time. Maybe you can elaborate a bit more what your thoughts are behind that, what the benefit is of shareholders and whether that is funded separately.


[Passed] Press Coverage for NuBits (6 months)
#3

I think Nu needs definitively marketing.
So this kind of proposal is welcome. Tks @jooize for that.

However I have a few important questions:

  • Is it about marketing and/or recruiting? Marketing and recruiting are 2 different beasts, requiring 2 different skills
  • About the funding: is it a combination of monthly payment + one-time payment? I would prefer not to give away any shares. And giving 1.5% of the whole DAC is too much from my perspective.
  • About the training of Esko in media. What is it about? If it is about marketing, what would be the relationship between Esko and this marketing firm?
  • Would that marketing fund only fund that marketing agency and Jooize’s marketing activities or it could be used for any party that contribute to marketing in the future?
  • It seems the developers recruitment urgent need concerns BCE and not Nu according to B&C Exchange is hiring two full time C++ developers . So if it is the case, shouldn’t that marketing fund and agreement proposal appeals to BCE shareholders too?
  • Can we get to know about the name of the firm in advance?

Thank you.


#4

I’ve scaled the requested amount down considerably and specified how the 1.5% fee would be applied. Moved the proposal of media training to its own motion.

With respect to the firm, I asked whether they agree to let me reveal their name and was given permission.


#5

Tks a lot for your negotiating work, @jooize .

The firm looks very nice and trustworthy with already some famous clients in a country where cryptos and blockchain are welcome.

I think the proposal is very reasonable with a clause that gives Nu the possibility to stop the relationship after 2 months.

I am supporting this agreement in substance.

However I am wondering about the following.

Would it be the supply of NuBits or NuShares, or a combination of both, and which NuBits?

Giving some incentives like this could be very crucial to get a much better job from the firm, I acknowledge.
But I would prefer NuBits over NuShares.

Thank you.