ENVELOP & NIFTSY. Reflections on the future
So, since 21.10.21 not much time has passed — about 3 months, but already in the first quarter as DAO ENVELOP advisor I managed to collect a lot of feedbacks about the project .Here, in spite of my terrible English, I decided to share some thoughts about the future of the project, which, I note, concerns my personal position & not the team or any part of it.
So how much will the Token cost?
I don’t know. No one, frankly, knows. Even in our team, there are advisers who say the opposite: do that, do this & “the token will go to Heaven”. I do not believe that.
Why not?
1st of all, because I myself have been involved in p2p-projects for more than 15 years, & in crypto-startups — about 10 years. And you should always understand that Survivorship bias is not an empty sound, but a scientific fact, or rather a whole trove of scientific facts. 2nd, even if you “invest” only in the TOP-100 in CMC, it does not mean that in the long run you will win (my analysis will be published soon on this subject, but I have completed it for myself and therefore — responsibly declare it). 3d, startup is startup, because there is no 100% certainty about its takeoff: in VC-segment only 1% manage to climb to the TOP, in ICO/IDO-segment a slightly larger number do, but still — it’s a little bit.
But let’s get back to the price?
I think, know exactly & am almost certain that the NIFTSY token will rise if:
- The DAO ENVELOP team will create more and more implementations;
- If the team completes the ecosystem: Protocol + Oracle + Token;
- And when it is finally just lucky enough to occupy at least 1 niche 1st …
Is it difficult?
Yes, of course it is. But doable. In turn, the community must also not sit back and must help the team:
- Through a “bounty-campaign”: crowdfunding is born;
- Through the “abmassador-ship”: it’s an extension of the bounty;
- Through constant testing of dAPPs: a dApp for creating wNFTs, a 2nd dAPP for Farming (& yes, no 1 will be offended if you distribute lunchpad too): & yes, you will get NIFTSY tokens for all this;
- Through attracting new community members: not bots — we’ve had enough of them since the IDO era, but live and active participants who will want to be part of DAO;
- Through HODL: it helped BTC and ETH — it will help all of us!
Do you know more growth recipes? Email me on social media at menaskop and let’s move on…
Am I satisfied with the work of the team?
If it is to say that my labour is also present here and linked at a quark level to that of the funder — yes, of course. Judge by yourself:
- I have long considered whether or not to enter the project. After all, for me at this stage of life it is important not just to consult on the project, but that it eventually becomes a Great DAO (if you have read “Good to Great” — the allegory is clear, if not — read it, it is worth it) & so far everything is going great: Roadmap is running ahead of itself; implementations in Ethereum, Avalanche, Polygon, BSC are in place, and Harmony, Near, WAX, Zilliqa and others are on the way; the community, albeit slowly, is growing, and most importantly, the number of implementations and cases is increasing.
- Meanwhile, the team entered a very difficult market, located between DAO + DeFi + GameFi + NFTs + Metaverse &prepared to play a long game. Are users ready? I don’t know. Noone knows. Although many are sure that they aren’t: but my experience tells me that there are always brave ones, and they are the ones who lead the team to success: not speculators, not even investors, but leaders of the community.
- And the most important: the team does everything as open as possible. Asked them to participate in multisig allocation for surveillance? No problem — they did. Have you asked them to report on the DAO, when they don’t even have the corresponding page? No problem — they did. Asked them (twice already) to revise the marketing strategy to optimize it all over again? No problem — they did. And so on.
So the short answer is yes, satisfied, although…
Big stakes at stake
The project takes up a lot of energy, time and creativity: tests on Mondays, reports & meetings on Tuesdays, hard work on all fronts from Wednesday to Friday, and often on weekends.
And you get used to a certain level of comfort and this is the reason why I thought for so long last year: should I join the project or not? Although initially the team members got to know each other through my networking and the general background of Synergis & Menaskop in the NFTs market. And that only adds to the burden of responsibility.
But whatever my personal costs are now (and they are substantial and consist in lost profits: in the months that I consulted ENVELOP I gave up a dozen projects, coming to Synergis, because there was simply no time for them), I know exactly, that it is worth it.
Because it’s rare that you believe in people, they don’t just do something, they do a lot and do it well, plus they’re all great experts in their field. Is it rare? In my entrepreneurial journey (since 2005), it’s rare. What about you?
So…
To all the haters and fans out there
I would like to say the same thing: just weigh up the “pros” & “cons” & match your strengths with the potential of the product. If you think a wait of 2–3–4 years or even 5–7 years is a long time, then perhaps crypto-assets are not for you?
Why not?
Let me show you with examples:
Have you guessed? Yes, that’s right — it’s bitcoin, ticker — BTC: if you look at the spikes from 2009 (start of trading — $0.0001) to 2017 you will see — one solid line. But at first approximation — constant ups: to 100, 1200 and others… And then — a sharp peak, often to zero! And so — for 7.5 years!
Do you recognise these guys?
I think not, and in between is Time from Chronobank: how much did the project listen to from 2017 to 2021? And meanwhile: a) the crypto+blockchain freelance exchange has launched; b) the core product is in the works; c) the token is at its peak (at a time when the market, by the way, not counting ATOM, has fallen or, as critics say, “collapsed”). And that’s almost 5 years!
Speaking of ATOM — the native coin of the Cosmos ecosystem: its holders, like Polkadot’s DOT, had to wait more than 2 years (!) just for the token to be worth anything at all. And there are plenty of such freezes on the market: from 1 year to 3–5 years.
Well, 1 more example and let’s go to the conclusion:
Did you recognise it? In the meantime, this is Tezos: it is successful in its own way in the NFT niche, has taken its segments in DeFi and done a lot of things, but has yet to reach peak token prices. And that: after surviving a corporate scandal, threats of lawsuits, a shower of dirt from the media and much more. Meanwhile — the product is working, the community is alive…
Hence…
Conclusions
Many individuals involved in ICO/IEO/IDO/INO/IGO/TGE/ITO & other initial public offerings do NOT even realize that they are not only NOT investors, but can only be called so in quotes. They are contributors, participants in DAOs and many more (if they choose so), but NOT investors. Why? Because investment is a risk, and here we are talking about crowdfunding + “some-possible-return-like-investment”, which is double and even triple the risk.
That’s why many “investors” go in cheap in order to sell expensive right away and recoup the main “investment” and then “as it comes out”. But they don’t want to bring anything to the project other than speculative money. Nothing at all. On the contrary: they often begin to impose some additional services through some affiliates in order to get even more and faster return on the “investment”.
It is their right. Their choice. Their morality. It’s their business.
But my credo is different: everyone must be given a chance. So I see the next steps to improve token turnover in the first quarter of 2022 and probably for the whole of 2022 too:
- First of all — we need to do away without steroid marketing, which was useful at IDO and useless in the long term game. At all;
- Next — team tokens should be taken out (gradually — according to the unfreezing stages) for farming and on the interest generated — to sponsor community activities through the evolution of the bounty campaign;
- After that & before — the focus should be on implementations & cases. The Roadmap involves developing in depth (Near, Harmony and other networks and standards: ERC-721/1155); in breadth (cases); in length (Oracle + Protocol + Index);
- It is also important to engage in crowdfunding marketing: no CMO will do what 100 active community members can do;
- No need to pay attention to speculators: you can even go into CEXs, transferring some liquidity to DEXs and freezing liquidity for n years;
- Be sure to look for and find new technical teams to develop outward;
- Focus as much as possible on what the synergy of Protocol + Oracle + Index gives to develop the L3 liquidity market, GameFi-rentals and related ones.
And yes, of course -
Good luck!
