Allocation Of Token Sale Proceeds
Last updated
Last updated
Funds raised during the ICO are intended to be used in accordance with the roadmap:
Funds received during the token Sale will be used solely for the development and expansion of the Metaverse Imagen platform. This includes Research, Engineering and Development, Marketing and Sales, Admin and Operations, legal costs and a contingency reserve.
Funds raised during the ICO are intended to be used in accordance with the roadmap:
Fund allocation
%
Research & Development
40.00%
Marketing & Sales
25.00%
Admin & Operations
17.00%
Legal & Compliance
6.00%
Contingency
12.00%
Total
100.00%
Research, Engineering and Development
This covers costs associated with the development and advancement of the Platform application deployment and related technologies such as AI Integration, AR/XR integration, UGC Tools integration etc. It includes deployment of the platform globally, security audits, development of the decentralized infrastructure and such. Research & Development costs cover R&D expenses, including design and development of smart contracts, cryptographic mechanisms, the platform, apps and interfaces, SDK, API’s and such. It includes onboarding approximately 10 additional highly trained and experienced software engineers.
Marketing and Sales Expenses
This covers any costs associated with the promotion of the application platform and Blockchain network. Most of the marketing will be targeted towards awareness and enrollment of Artists and buyers. Efforts will start in Europe and North America initially and expand to other regions, such as South America, GCC, South East Asia, South Asia and Sub-Saharan Africa. Marketing & Sales budget will be allocated on acquisition of artists, art owners, art galleries and art buyers.
Admin & Operational Expenses
This includes costs associated with maintaining day-to-day operations. Examples include salaries of employees and contract personnel, community management and education activities, human resources and recruiting, accounting and other administrative obligations. R&D team’s expenses are not in this category.
Legal Expenses
This includes any legal costs associated with the establishment and operation of the platform. Legal costs also include legal expenses associated with expansion of the Metaverse Imagen ecosystem in different countries.
Contingency Reserve
This is a reserve set aside for any unforeseen expenses that may occur. Contingency fund is calculated as 12.0% of the total budget.
