Proposal - Weekly Crowdfunded Digital Art Competition

In light of @xpilar’s recent decision to discontinue his digital art competition because of the low interest, I asked myself, why was there low interest?

And the first thing that came to mind was rewards. What if a digital art competition increased its payout to the winners? Would there be more participation?

And if we increased the payout, how much would the winners receive? And from whom (the source of the STEEM rewards)?

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I propose a Weekly Crowdfunded Digital Art Competition.

There would be 4 winners per week; 1st through 4th Place.

Out of the total post ‘author rewards’ that have been settled and deposited in my wallet, @fijimermaid, after the 7 days:

• 1st Place - would receive 30% of those post author rewards.
• 2nd Place - would receive 25%...
• 3rd Place - would receive 20%...
• 4th Place - would receive 15%...

The remaining 10% of rewards would go to the host of the competition, @fijimermaid.

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Edited 10/29/2024:
However if there are less winners because of low participation, the payouts will be adjusted.

Only three participants and three winners:

• 40% to 1st Place Winner
• 30% to 2nd Place Winner
• 20% to 3rd Place Winner
• 10% to Host

Only two participants and two winners:

• 50% to 1st Place Winner
• 40% to 2nd Place Winner
• 10% to Host

Only one participant and one winner:

• 90% to 1st Place Winner
• 10% to Host

Zero Participation:

• If there is no participation for one week, like there was this week, the ‘author rewards’ of Week 1 (non-participating week), will be carried over and added to Week 2…and the payouts will be based on that new accumulated ‘author rewards.’

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The source of the post rewards would be from anybody who wanted to participate in this crowdfunding, by upvoting the ‘Crowdfunded Digital Art Competition’ post for that week…from the whales, like @upvu, @upex, @abb-curation and @steem.botto…to the six-figure Steemians like @reflektor and @stef1…to the rest of us mere mortals 🙂

Payouts to the winners/host will be dependent on the rewards accumulated at the end of each week's post…after the 7-Day settlement period. And payouts will be deposited in the Winner’s wallets.

And anyone else that would like to contribute to the contest by sending STEEM directly to my wallet, I will add that STEEM to the ‘author rewards’ at the end of the week, and apply the percentage payouts to that total sum.

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For example:
On 25 September, 2024 (after the 7-Day settlement period), I received 16.404 STEEM in author rewards for this post.

CLICK IMAGE TO EXPAND

In the scenario above, I would distribute the rewards to the winners from the post and keep 10% for myself:

• 1st Place - would receive 30% or 5.74 STEEM
• 2nd Place - would receive 25% or 4.101 STEEM
• 3rd Place - would receive 20% or 2.4606 STEEM
• 4th Place - would receive 15% or 1.64 STEEM
• Host - would keep 10% or 1.64 STEEM

If the post rewards were one order of magnitude higher (10x): 164.04 STEEM

• 1st Place - would receive 30% or 57.4 STEEM
• 2nd Place - would receive 25% or 41.01 STEEM
• 3rd Place - would receive 20% or 24.606 STEEM
• 4th Place - would receive 15% or 16.4 STEEM
• Host - would keep 10% or 16.4 STEEM

If the post rewards were two orders of magnitude higher (100x): 1640.4 STEEM

• 1st Place - would receive 30% or 574 STEEM
• 2nd Place - would receive 25% or 410.1 STEEM
• 3rd Place - would receive 20% or 246.06 STEEM
• 4th Place - would receive 15% or 164 STEEM
• Host - would keep 10% or 164 STEEM

My intent with this type of rewards system is to link greater community participation, to greater payout to the contest participants…a positive feedback loop. This greater reward incentive might encourage more people to join the contest, and possibly Steemit as well.

I will be posting the first ‘Crowdfunded Digital Art Competition’ Tuesday of next week, then the following Tuesday I will select the winners, and post another competition. Payouts will be on Tuesday/Wednesday.

I want to thank @xpilar for inspiring this idea.

Let me know what you all think?

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Stay frosty people