Hi Team,
In Q2 we successfully bridged 9,969.37 Ludus tokens from Mainnet to Andromeda and airdropped 19 OG ATHLETES NFTs to the OGs that helped us bridge them, shoutout to all of you.
We then focused on utilizing all the tools that Metis has to offer and tried to organize everyone to use the NFT bridge. However, even though we got all the processes connected, there are still some bugs that users have to go through. We want this experience to be flawless for our users, so I decided to remove the NFT purchasing section from the collection drop.
What does this mean for the other NFT collections?
We won't leave ours behind.
We are still working with the Metis team to get the best user experience for our users, once it is done they will be able to bridge.
Will the other NFT collections still receive dNFTs from the new collection?
Yes, we will allocate a portion of the dNFTs (93 + 1500 +114 =1707) relative to today’s holders for it to be exchangeable for when the bridge issue gets resolved.
Tokenomics Update:
I have been thinking a lot about two problems: How do we make sure we sell out? How do we make sure after we sell out we can develop the whole project?
The first question for me is not a problem, after going through everything that we have I remember exactly what I had to do to get ‘trending’ when we released the first collection and token, as long as there is a market for it. At the end of the day, for me is a matter of expenses that have to be paid to appear in front of everyone. And that is not what I worry the most about.
On the other hand, after you get all the attention and maybe sell most of the collection what would we achieve? How can we make sure that we still get all the funds that we need if we are not even accepting liquid Metis or Ethereum in exchange for the NFTs? Why are we only going to sell the dNFTs for Ludus?
Well, the reason why we are only selling the collection for Ludus is that the foundation will be able to retain most of the supply of the tokens as the purchasing of dNFTs begins.
When we were discussing the idea at first, I thought that exchanging 1 Ludus for 1 dNFT would be enough, since there are only about 20,000 circulating tokens and only 10,800 dNFts that should make a deep enough supply shock, even increasing it to 5 Ludus per dNFT seemed like a good idea then the foundation would be technically forced to distribute the tokens once to the pool and then use that liquidity to fund the Ludus treasury.
Nevertheless, Ludus price is accessible for most of the market at a current price of $1ish on netswap , so even though the foundation would be able to get the liquidity from the pool users would only be paying $5 for 1 dNFT.
How much is 1 dNFT worth?
I decided to raise the price to 25 Ludus per dNFT.
This will force the market to give most of the circulating tokens to the Ludus foundation multiple times for the dNFT collection to sell out. The foundation will distribute the tokens back to the pools while aiming to maintain the price of 1 Ludus below $10 to keep it accessible for most users within the space.
Launch Date?
We are on track to launch by the first week of September/2022
It has not been an easy nor a short road, but it finally is coming to the end of this project. Now, even though we have all the art ready and smart contract specifications as well as a front end ready to launch, we need to get to that first question we talked about doing the marketing part of it.
But, I decided to record and upload a couple of videos on social media to grow our community and reach, here are some of the results on 3 different platforms (Twitter, Instagram, Tiktok).
Finally, we get the rest of the people a seat and allow them to support them from the outside, even though most of them do not understand what we are talking about, they understand and support us from the outside.
We will continue the social media posts to engage more people and bring them all together to participate in the upcoming launch!
Make sure to join our telegram group and follow us on social media to stay up to date.
To a better future
-jose
