As the founder of Gnogen, you have trusted and supported me in our mission and to build responsibly. Those closest to me know that I have always taken financial responsibility as my highest importance.
The crypto bear market started around March 2022, representing a very long time in NFT years as you know. This is a long time to stay positive, manage the project Treasury, deliverables, deadlines, and disappointed people, all while spending everything I had to my name so that I could leave the Gnogen funds solely to build out the project.
On a personal note, a lot has happened in my life. The people that depend on me most, like my wife, mother, and younger brother, have been let down the most because there has not been enough funds to support development and my family at the same time.
I have already invested $135,000 of my savings (pre-Gnogen) to keep building at a good pace. This represents every penny.
What you may not know is that I sold our home, traded both of our cars for a single car and skipped all holidays/vacations to free up more capital to continue building out the Gnogen roadmap. I understand that this comes with the territory as Founder and CEO of a startup, but these are real sacrifices that I have made to continue on this path.
Many people believe that a typical bear market lasts 4 years, so as of March 2022, I made a decisive plan to join a Team to produce the best 10k art collection to the NFT world. For my involvement in this new project, my payment would alleviate the strain on my personal finances whilst allowing me to focus on growing Gnogen with Gnogen’s Treasury.
Fast forward 1.5 years later, and the new project is finally about to launch. Everything that we’ve worked so hard for is about to make it’s way to the ETH NFT market. There are still lots of uncertainties when it comes to any project launch including: appreciation for our art, the mint itself, timing etc. However, we are confident that our project is as strong as any other and there’s a good chance that people will love the art and support us.
Whether our ETH project has a spectacular launch and/or has staying power, there’s also a strong chance that those on ETH will want to know more about the project team, including myself. This will give more prominence to Gnogen, our collections, artwork, MultiversX and its many benefits. I have a strong vision for Web3 and this ETH project may put myself and Gnogen in a much better position to start closing deals and create better opportunities for our community.
The scale of the ETH NFT ecosystem is close to 150x larger than the MultiversX ecosystem. Whether you’re looking at Twitter followers, volume traded, money spent on events, news/PR, ETH is where the NFT movement is happening.
I understand that to many, it’s a little out of the box. However, my objectives as CEO of Gnogen is to grow our brand recognition, find partnerships that allow revenue and volume to increase as well as to create products and games that our community enjoys.
All I ask you is for your continued support and understanding. This is not just about an ETH project, but about my own personal responsibilities as well as, more importantly, the future of Gnogen. If this ETH project is successful, it will open many doors for Gnogen and our current/future plans. Please know that I have poured my heart and soul into Gnogen from the start and will continue doing so.
Expense Report
I’ve included the Gnogen expense report below for every dollar spent. I have been very careful and responsible with the Gnogen Treasury. Yes, there were missteps, but you can see that funds were well spent overall. Those who have built products or managed startups can attest that these costs align with industry standards.
The Numbers
Royalties Gained thus far:
Emidas Genesis = 12,800 EGLD Volume @ 10% royalties = 1,280 EGLD
Aermes Genesis = 7,250 EGLD Volume @ 10% royalties = 725 EGLD
Doga Genesis = 3,140 EGLD Volume @ 10% royalties = 314 EGLD
Gnogenverse Lands = 1,300 EGLD Volume @ 10% royalties = 130 EGLD
Emidas 3D = 624 EGLD Volume @ 10% royalties = 62.4 EGLD
Aermes 3D = 41 EGLD Volume @ 7% royalties = 2.87 EGLD
Gnogons OG = 28,000 EGLD Volume @ 10% royalties = 2,800 EGLD
Gnogons Revamped = 445 EGLD Volume @ 7% royalties = 31.15 EGLD
ValidatorsV2 = 2,630 EGLD Volume @ 10% royalties = 263 EGLD
TOTAL = 5,608 EGLD
Revenue Generation:
Emidas Genesis = 160 acts * .33 egld * 7 acts total = 370 EGLD
Gnogons OG = 10,000 * .4 egld = 4,000 EGLD
Validators V2 = 5000 remaining = 5000 in circulation, 1000 were airdropped, 100 kept behind for future promos, sold at 1 egld each = 4000 * 1 egld = 4000 EGLD. Of these, half were sent to purchase Validators and pay for artists and developers involved. Website + SC + Art + Purchase of Validators at the time ran 2,000 EGLD
Doga Genesis = 7 Acts * .5 EGLD * 735 for sale each = 2,572.5 EGLD
Royalties = 5,608 EGLD
TOTAL Revenue Generated = 14,550.50 EGLD
Total EGLD sold into fiat = 14,500 EGLD sold at an avg price of $40 = $580,000 USD
The vision moving forward:
Short-Term (1–3 months)
Validators: continue development on The Arcade Game with beta version open for community testing
Gnogons: bring the next dynamic edition of Gnogons Revamped to market
GNG: bring less intensive utility to GNG token
Airdrops: deliver pending airdrops
Trade-In Program: develop and initiate a Trade-In Program to reduce the supply of some collections
Create a Villain: reinitiate community engagement
Social Media & Marketing: reinitiate monthly updates/recap, commitment to stay active and engaged on Discord and socials
Medium-Term (3–6 months)
Validators: launch of The Arcade Game
Lore: return to a core identity of building community around stories, our heroes and other interesting/unique ways to interact with NFTs
Marketing: invest in promoting more of the Lore and Gnogen’s collections online and offline
Gnogons: increase utility for Gnogons Revamped stats
Long-Term (6–18 months)
Validators: relaunch Validator v2 mint when market rebounds
Gnogons: Gnogons Revamped collection will continue to become one of the most versatile and dynamic NFTs in the world with ongoing marketing online and offline
Marketing: continue to increase the amount of casual gamers and comic fans coming to the blockchain space
Product Launches: continued focus on more Games involving Gnogons and Validators allowing the art to merge with tech and community.
GNG: continue to increase utility within Games
Funding: strategy on defining KPI and other business metrics in order to raise first round of VC funding
What Now?
Of all the EGLD we have earned in sales and converted into our fiat Treasury, $130,000 remains in bank accounts set aside to continue building our roadmap. Here is what we can look forward to:
1. The Arcade Game is already well underway, and development by a third-party team is ongoing. This Validators-centric game is scheduled for release for worldwide tournament play, allowing holders to pay and compete for GNG and other prizes.
2. Dynamic Gnogons will continue to separate Gnogons as a truly unique and valuable collectible. The dynamic aspects of this collection will not be cost-intensive and can be largely completed in-house. They will also be upgradeable only through GNG which will continue to provide the token with a grounded use case.
3. Gnogen Comics and our identity telling stories will make a strong comeback to help maintain our presence from everything we’ve built up until now, and will serve as the gateway collection for onboarding collectors from other blockchains.
4. Ether Genesis will mint when overall market conditions improve.
5. ETH Project will provide Gnogen with a dramatically larger audience. The mint will coincide with The Arcade Game Beta release.
6. The Trading Card Game will continue development around the gameplay rules and mechanics while we search for the right investors to help bring the product to market.
7. Continued Progress of our Holder’s Portal, which is aimed to unlock more potential around content sharing.
As the Founder of Gnogen, I ask for your continued support and patience. I am still here and will continue to build.
Thank you for your time,
Thecyple
