Hi, I’m writing this here because of a request from the community.
We have been working on fundraising since early this year and the situation is beginning to change a lot.
The first thing to tell you is that it is coming to a close. It took a little while because the stable coin shock happened, but the number of VCs supporting us is gradually increasing. It will include token funds, VCs, and partnerships, details to be announced.
Why fundraise? - It is for the growth of the ecosystem and to expand the market. Listing is essential piece for a healthy market, as many hope. It needs the cost of listing and good investors who will recommend the project, and getting them involved in the community will speed up the process dealing with exchanges.
Current status of the team - Some of you may be surprised to know that even under this crypto winter, VCs’ expectations for the project are getting positive. Why? Because we are a unique project with a growing community of developers. A nice feedback from investors is that most Web3 projects fail as they cannot be developed even if they can raise money but we have the community. Coming partners value the protocol utility as Web3 creator economy we have developed so far and we are discussing to utilize DAOs for creators, influencers, artisans and entrepreneurs etc.
Answering some questions
- DEV is not just for developers. We are always working to ensure that all creators can participate and partnerships in various areas are progressing as already mentioned.
- We are always open to discuss and answer questions with community. You can find out what the team is working on each day on Discord, but for those who still don’t know what is happening, we are considering increasing the output on the forum.
- Dr.Eelco has been working as a director and is working on a regulatory solution for future listings. I heard a vicious rumor that he is no longer on the team, which would actually be an act of trolling against the CoC.
These challenging market conditions have not stopped us from working to close our fundraising and partnerships in order to move on to the next stage. I know that you are all in a tough situation, and I hope you understand that keeping a good community is in the best interest of all right now. And notice that good news is on the way.