Hackmakers AMA with CRE8R DAO
Primer: Hackmakers is a build-to-earn innovation ecosystem solution, where developers upskill through open innovation challenges and community programs. Their AI and Web3 hackathons have been heavily subscribed. Now, they are turning into a DAO. Why? Find out more in their AMA with CRE8R DAO.
Background
Team
Steve, Jack, and Janson met at CSIRO, Australia’s National Science Agency
Met Daniel in one of the hackathons they ran
Nicholas, Steve’s brother, joined them with his skills in Machine Learning and Finance
“I think what makes our team work so well is that we are all deeply passionate about hackathons and learning.”
- Janson Lim
Skill Set
Dr Daniel: Software engineer. Teaches at the University of Queensland
Steve: Thought leader in AI and Data Science
Jack: Over 20 years of software development experience. Tech lead at the Australian Stock Exchange
Nick: Worked at a top-tier credit rating agency. Author of Data Science books
Janson: Came from a government background. Worked as an economist
Origin Story
“The term Hackmakers refers to ourselves and our community: Hackers and Makers.”
- Janson Lim
Views their community as an innovation and maker community
Grant from Polygon
Hackmakers have been running innovation events for Web2 corporates and governments
This year, they started offering Web3/blockchain-themed hackathons
Attracted Polygon as one of their clients
Applied for the Polygon Village Wonders program. Managed to get one of 12 spots from over 500+ applicants
Polygon generously gave them a mix of SAFT investment for future tokens (their NFTs) and direct mentorship
Hackmakers
Hackmakers in a Nutshell
A build-to-earn innovation solution that fosters new innovators, through accessible and rewarding pathways to AI and Web3
Through achieving milestones, users earn rewards, meet new team members, talk to great mentors, and have the tools to complete the challenge by building a great solution
On the client side, their tooling solutions help organizations run open innovation challenges and serve as a recruitment portal for top talents from their dev community
Main problem they are solving
Today, we are on the precipice of 2 major digital revolutions:
AI
Web3
Do not have enough skilled builders in both industries
Important to include and convert Web2 devs to adopt Web3 skills
Has observed silos in the Web3 learning and recruitment space
Wants to make their system interoperable and form partnerships with services
Unique Value Proposition
There are plenty of competitors trying to solve the tech talent shortage
If people want to learn technical skills, they have plenty of choices:
Traditional models like paid courses and bootcamps
The Courseras and Udemies of the world
In Web3, new models have evolved, such as the Learn to Earn space:
Metacrafters
Rabbithole
Acquiring knowledge is the first step. Application and creation are the critical skills that are needed
Hackmakers strategically combines the best elements from Hackathons, Learn to Earn, and bootcamp models
By specializing in the application part of the learning journey, users’ achievements can be recognized by other grant and identity providers in the ecosystem, creating a Web3 native CV
The Business Model
In phase 1, they run global hackathon and innovation events for clients using their own expertise and hackerspace software
Last month, they beta launched their SaaS solution, enabling clients to run small events themselves
In phase 2, they are expanding on their core tooling with more features. The plan is to tweak their base platform into an idea management framework
In phase 3, they will be focusing on their accelerator, which has its own model for returns
Will build a recruitment portal for organizations to hire from their dev community
The Clients
Have all sorts of clients
Oracle, Polygon, Filecoin, IBM, and Google are some of the big tech ones
Have partnered with UNESCO, UNEP and government agencies from over 7 countries across APAC
Hackathon as a Service
Clients/organizations pay to get access to their tooling and support to run a hackathon
Clients come to them to change their team’s innovation culture or to filter out devs to hire some solid junior talent
Their hackathons can be conceptualized as a funnel system:
People will drop out as you get closer to the finish line
Participants will get rewarded at each part of the funnel
“Simply showing up, watching a workshop and making a team will guarantee you something, even if you don’t finish your first time!”
- Janson Lim
Currently, hackathons are run as a zero-sum game. If you do not win, you do not receive any recognition or rewards
In their system, everyone gets something
Selection of mentors
Hackmakers mentors come from a wide range of backgrounds and industries
Many mentors are leaders in their industries
Some of them are entrepreneurs
People have to apply to become a mentor
Mentors are selected based on a few factors:
Hackathons they have competed in before
Evidence of their skill in AI or Web3
Availability to help over the competition
Have another category of mentor called a Lead Mentor:
They are recognized senior technologists, leaders, professionals and entrepreneurs who help to coordinate large hackathons that exceed 3000 - 4000 participants
Need to have soft skills when managing other teachers and mentors
Success Stories
One of their lead mentors, Gagandeep, went on to found a driverless vehicles company, receiving over $1.5m in seed funding
One participant from Pakistan, Nrumal, was offered a work position with a tech consulting firm in Hong Kong
A team of 3rd year IT students from Dauphine University in France were worried they did not have the skills. Janson encouraged them to use the skills they had to try
Integration with the blockchain
During the innovation program or hackathon, participants earn coins for micro-activities:
Watching workshops and courses
Forming teams
Using sponsored software and tools
Coins can be spent:
To get mentoring sessions from top mentors and teachers
Participate in a flagship bootcamp that they are co-branding with future education providers
Looking to build a Web3 native CV with partners
Hackmakers NFT
Utility of the NFT
In the process of transitioning into a DAO
Is one of the few revenue-generating organizations that are turning into a DAO
NFTs provide holders with the following benefits:
A percentage share of the revenue they generate from their existing hackathon tooling business model
Future revenue from their recruitment and accelerator solutions
Give holders the ability to vote on governance proposals and influence who runs certain activities and operations
Access to the investment club
Discounts on Hackmakers innovation tooling, exclusive merch, meetups, etc.
Use of funds raised from the NFT sale
Thinking of distributing the funds in this manner:
20% Development of Build to Earn Solution
20% Operations and Marketing
60% DAO treasury fund for accelerator
All royalties from NFT resales on the secondary market will also go into the DAO Treasury
Are there different rarities of the NFT?
From a governance perspective, the rarity tiers are only implied in the art used for the NFTs
They may be exclusive meetups and special discounts that they will allocate to the higher rarity tiers in the future, but they will talk to their community about that first before rolling it out
Allocation of the NFTs
20% to founders
20% to advisors and early investors
15% to OGs from past hackathons
Remaining 35% will be allowlisted or raffled out for public sale
The Artwork
A personified version of their logo, affectionately called “Puzzlies”
Went local with their vision. Worked with various Australian artists and art students to produce them
Have plans to work with more established and professional artists in the future
Hackmakers DAO
Why are they turning into a DAO?
Every hackathon they run needs the support of a bunch of mentors and teachers who help teams
Their plan is to attract and retain some of the best teachers and mentors for their DAO
This will open up doors for even higher-quality members to contribute
Want to make sure that no single person has complete power over the community
There’s improved trust and transparency through the use of the blockchain
Incentivizing their community to participate in governance
One key incentive is that the returns from revenue-positive innovation tooling and investments will be incumbent on participating in a minimum amount of voting activity per year
Vote delegation mechanism?
Planning to adopt a reputation-based governance system for their DAO to distinguish between people who are qualified to take part in certain major decision making processes
At this stage, they are not thinking about vote delegation
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