Authored by FlapJackson
Through PDIP 11 - Partnership and Financial Terms for BLVKHVND, we defined working and financial terms with BLVKHVND around two key elements:
- Seed investment in BLVKHVND, with deliverables pertaining to deploying:
- an integration with ParagonsDAO’s player management system with STADIUM’s interface
- The Parallel Global Series—a flagship competitive series managed and operated by STADIUM and powered by ParagonsDAO
- A joint venture sub-DAO owned by both ParagonsDAO and BLVKHVND focused on media and entertainment.
Since PDIP 11, ParagonsDAO and BLVKHVND have mutually agreed not to further pursue the joint venture sub-DAO (item 2) together as previously agreed, and ParagonsDAO will retain the $165,000 previously earmarked for funding the joint venture sub-DAO’s operations.
This does not impact any terms or milestones of ParagonsDAO’s seed investment with BLVKHVND in support of STADIUM and the Parallel Global Series.
Following significant planning and strategic discussions, and given the various stages of development of each team’s other products and priorities, both teams came to the conclusion that they would have greater success delivering their own media and entertainment strategies independently.
Not pursuing the joint venture sub-DAO significantly reduces the complexity of our partnership, and also refocuses it on optimizing our existing seed investment in BLVKHVND by delivering the best user experience between ParagonsDAO solutions and STADIUM interface, and the series/competitions we sponsor through STADIUM as an infrastructure platform.
Both ParagonsDAO and BLVKHVND will continue to pursue media and entertainment content related to Web3 gaming in their own ways. This will include partnering with each other for media and entertainment for specific events, such as the proposed Parallel Global Series, just not under an official joint venture sub-DAO.
ParagonsDAO will keep the $165,000 previously earmarked for funding the joint venture sub-DAO’s operations, likely recycling much of that into the framework and content for ParagonsDAO’s own content production and dissemination strategy. We expect this will still include forming a legal entity, allowing ParagonsDAO to meet jurisdictional requirements to work with traditional sponsors and content creators without friction.
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