HODLVERSE Tokenomics Update
HODLVERSE is seeking to raise $750K to help seed its network. This includes, but is not limited to, operations for runway, liquidity pools on HV / Uniswap / Pancakeswap, marketing, and more.
- $150K for Liquidity Pools ($50K on HODLVERSE, Uniswap, and PancakeSwap Each)
- $100K for Market Making
- $500K for Engineering, Marketing, and Operations
The starting market capitalization will begin at $750K with a fully diluted market valuation of $5M. Despite the current market conditions, our DAO leads and advisors believe that this represents stronger than fair value based on the current development status (multi-chain MVP, team experience, platform maturity, and more.
Allocations are simple and cleanly divided between central core tenets including engineering, liquidity, business development, marketing, and more. The community at Coin secured 10% of the total token supply as a seed investment deal. As a result, Coin token holders will receive an airdrop ratio value equivalent of 1 $MONEY token to 1 $COIN token in the future.
Token Launch and Investment Strategy
Our initial release strategy for HODLVERSE has been to conduct an NFT mint proceeded by complimentary token drop for holders (a strategy similar to Bored Ape Yacht club and $APE coin). For the past few months, we have been monitoring the markets closely given the overall global economic conditions. Overall NFT trading volume continues to decline and many companies are struggling to mint out their entire collection. At the same time, the current meta for NFTs is free mints which do not align with our strategy.
To that end, we will be altering our fundraising strategy to a token offering. We are currently in discussions with a few of the most-popular launchpads in the industry. While our interest is to be a community-driven DAO, we are also open to engaging venture capital from strategic investors that can:
- Accelerate our goals
- Extend our network
- Provide strategic resources (IP, advisory services, and capital)
- Generate exposure
We are in contact with one of the largest web3 gaming / metaverse investors in the space and hope to be able to move forward. In light of the current economic and market conditions, it’s prudent that we perform diligence on all of our options before making a clear-path decision. The potential for a multi and cross-chain DeFi metaverse is huge and we want to maximize on our every opportunity we can. If the terms of any VC investment are not favorable, HODLVERSE will opt for a direct token offering with a reputable launchpad.
HODLVERSE plans to be patient in executing its strategy for the following reasons:
- Market Conditions: Current market conditions in crypto lack clarity due to the recent events surrounding Luna, Celsius, Voyager, and 3 Arrows Capital. We also believe that there is a strong possibility of contagion that will impact other related companies in the industry. Coupled with a global economy at risk of a recession (rising interest rates, supply chain issues, ongoing war, ongoing pandemic, inflation, etc.), we believe that we will continue to exhibit a drawdown in stocks, cryptocurrencies, and overall consumer liquidity. It is our goal to launch when market conditions improve as network participants and NFT/Token holders can benefit from a correlated rise in the markets.
- VC Interest: In 2022 to date, venture capital firms have collectively raised trillions of dollars to invest in Web3.0, metaverse, and blockchain game-related companies. It is our goal to align with strong VC firms in this space for advisory, network access, and additional funding to execute the long-term vision for HODLVERSE. A strategic investment can impact the respective timelines for the overall strategy.
Timelines are yet to be determined and will vary based on the variables above. Coin token holders should continue to sit tight and stake their tokens until further notice. We will provide more updates as news develops around engineering, operations, and business development. All information including the above will be officially published via the HODLVERSE website and social media in the near future. Marketing and community development will also commence soon as well.
Community Development Strategy
While virtual land and NFT sales have declined over the past few months, interest in NFTs still remains. Free mints continue to be a popular strategy for companies to onboard new users. HODLVERSE will use a similar strategy to draw new members into our ecosystem.
Customization is a popular trend in our society. Consumers love to create and flex their work online to others. Similar to Animal Crossings, HODLVERSE enables users to customize their metaverse environment to match their personality and interests. In phase one, this includes interior assets such as furniture, appliances, etc. to decorate the user’s home. In future phases, exterior assets will be added to decorate the user’s metaverse experience.
NFT’s will be developed and used as a pass to mint these assets. The HODLVERSE customization passes will be a free mint. In the future, NFTs will include characters (P4P Avatars) and land plots. This strategy will attract new members to the network and our community to test drive and contribute accordingly. We will also be conducting partner collaborations, promotions, and giveaways to support community building. This strategy will also coincide and run in parallel with traditional marketing efforts.
We will provide more updates as more news develops around engineering, operations, and business development. All information including the above will be officially published via the HODLVERSE website and social media in starting this week.
We hope that you are all as excited as we are. Our team strongly believes in the potential of Web3 and the direction that the industry is headed. But most importantly, the opportunity for Coin and HODLVERSE to participate and play a part in this growth.
For more information, please visit hodlverse.com
We also encourage you to visit the following resources to view our progress to date:
- Audited Smart Contracts: https://github.com/hodlverse
- Demos: https://www.youtube.com/c/hodlverse
- MVP Testing Guidelines: https://docs.google.com/document/d/1vrNujRy05Rv_bTfRpNN-dUqpxPeK3GybPcDab97Z228/edit?usp=sharing
- TestNet MVP: https://www.app-dev-unity.hodlverse.com