NFT20 Community Update

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Very Nifty

Feb 20 · 5 min read

Another week on the books in this amazing journey, what started with a few lines of codes shared between 2 friends for a Hackaton, is slowly turning into something bigger than we all could have imagined.

Here are a few of the things that we would like to highlight this week.

Finished the $MUSE transition

We finally finished the transition period of moving $MUSE from V1 of the game to NFT20 — the NFT dex, this included the distribution of ~102.5K $MUSE to winners of the VeryNifty game, and the release of the Founders and DAO vesting contract.

This was a big milestone as it frees up the developers to focus on bigger things.

Community

The Discord community has been growing and we are very happy to see new community contributors in different capacities.

This is a community project, we are all volunteers and the future will depend on everyone doing their part for the growth of the project. No contribution is small, all contributions takes us one step higher and further.

We would like to highlight some this week’s contributors:

walksandwalksandwalks has been helping a lot with marketing, his banner designs created a lot of awareness around the project in the communities where NFT20 pools were created, he’s been shipping constantly.

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How can NFT20 help your NFT project

tldbreakfast — has been giving a lot of good suggestions and created a ton of pools for the platform as well as added liquidity to some.

Dievardump — continues to help a lot with the community and answering code questions when we get into a problem.

Enea — Enea created the $MUSE store this week, he doesn’t see your details as he is using an app for streamers to sell merch (he doesn’t manage payments), feel free to order a $MUSE mug (we did)

Ric | stakefish — Is helping with spreading the word, advice and stress testing the features we have, he is an NFT user and that’s what we need more of.

Vasa — has been doing experiments around NFT swaps and trades and is sharing his journey publicly along the way, his tweets brought us attention from builders in the space, and he also recommended features that will be implemented in next version of our smart contracts (to be deployed this coming week).

bnse — From super degen trying to kill our pets in V1 of the game, bnse started to help a lot with the asset metadata, created the Uniswap token list for all “tokens20”, created pools and helped with the MEME pool marketing as he is strong in their community.

Crypt0Shiva — Created the rope and based pool and is doing his part on those communities.

Thanks to all other contributors this week!.

The less good

It is important to highlight things where we can improve.

It is no secret that Adam & Jules are not traders. As we grow, more moonboys will join and price will go up and down and down and up, but it is important to keep focus and try to turn moonboys into shippers.

If we embrace shipping, we’ll make it through anything that goes on in the speculation side of things.

We are still super centralizad, the “DAO” funds are accessed only by 1 wallet (Adam & Jules share private keys) and to what extent the community decides things is still not clear, even in our docs it says you can’t create random proposals and this was by design.

We are new at this and over time things should get more & more decentralized, but it’s a process.

Unfortunately, we don’t see many DAOs that advertise being decentralized either shipping consistently and/or being really decentralized (they just do it for the marketing), so we are still learning from different models and as we grow we will have to continue giving this serious thought and focus.

In the meantime, things that directly touch the community or the overall project will be decided together with the community and we try to show that daily.

One priority in our opinion is to decide what to do with the fees earned by the platform, we would love any community initiatives to get these discussions going and eventually Snapshot voting going.

The path for growth!

Right now the main focus is to keep developing the product and nailing down the use case, however we’ve noticed more and more opportunities are coming to our doors (things we can’t openly share as they didn’t materialize yet)

The plan right now is to:

  1. Try to improve the product.
  2. Check out all the opportunities we have and take them if the partners are a good fit that share our values, and vision.
  3. Try to cater to the imagination of builders, without more builders joining we won’t grow, we need crazy people.

We are excited to announce 0 partnerships this week!

It is a known short cut/scam in the crypto world to announce partnerships without any substance to pump a token, those who know us know we don’t do these kind of things if it doesn’t make sense for the end goal which is finding use cases for NFTs and helping trade,swap and sell NFTs.

So we would like to highlight that we are proud that although big money was on the table this week, neither Jules nor Adam sold out and decided to stick to their values and do what is best for the end users.

One day we’ll be able to write and share more openly about the inside workings of the crypto world and how disturbing some parts are.

Marketing

We are in talks with different VCs that reached out to us, some talks are more advanced than others, for full disclosure this is how a deal could look like:

VCs would invest around $500k into $MUSE, $100k each from Adam and Jules personal tokens, to pay themselves to secure keeping working on this.

$300k would need to be approved by muse holders to be sold from the DAO funds, this is to diversify some funds from $MUSE into ETHER and to invest in Marketing.

The investors we are speaking to would be community members as there is no company and they would be muse holders. But their expertise, advice and connections could be a huge help from marketing POV and to navigate the crazy crypto waters.

Again, this could be all speculation as nothing materialized to a concrete deal yet.

If you are not having fun what are you even doing?

You have over 10000 coins on Coingecko to speculate on price. When you are in our community try to do crazy shit, feel free to act however you like (always maintain respect to others) and try to build and propose the craziest ideas.

By being in crypto we all are at the forefront of innovation and the more we can push the limits and have fun, the better we’ll learn and do longer term (yeah,even monetarily).

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