KEY TAKEAWAYS
- The Open Audio Foundation has relaunched its Grants Program to drive innovation in the Web3 music ecosystem.
- The program offers Gig Grants for smaller projects and Tour Grants for larger initiatives, with community input required for the latter.
- Grants will be awarded quarterly, starting January 2025, to support developers and entrepreneurs in the decentralized music space.
The Open Audio Foundation has announced the reconstitution of its Grants Program, marking a significant step in fostering innovation and community development within the Web3 music ecosystem. This initiative, which had been dormant following a governance takeover in 2022, is now making a comeback with enhanced revisions and safeguards to ensure its long-term success. Details of the program were shared here.
The Audius Grants Program is designed for developers, entrepreneurs, and community members who are passionate about building projects that align with the Audius mission. The program encourages applications from those working on technical improvements or initiatives aimed at growing the ecosystem.
The program offers two categories of grants. Smaller grants, known as Gig Grants, will be evaluated and awarded directly by the Open Audio Foundation’s Grants Committee. This approach allows for efficient decision-making and quick funding. Larger or more complex proposals, such as Tour Grants, may require additional input from the community through a governance vote to ensure alignment with the broader Audius mission and priorities.
Grants will be awarded in quarterly cycles, starting January 1, 2025. Applications will be accepted throughout the first month of each quarter, with deadlines at the end of that month. The review and awarding process will be completed by the end of the quarter, enabling recipients to begin their projects promptly in the next cycle. Grant recipients must satisfy certain compliance requirements and enter into a simple Grant Agreement.
The Audius Grants Program represents a new chapter in empowering creators and builders in the decentralized music space. This initiative aims to shape the future of music by supporting innovative contributions from developers and entrepreneurs.
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