I'd like to walk you through the work management system we've implemented, aptly named Monday. This system helps us stay focused and organized. It's where we track various aspects of our operations, such as user attraction strategies, product development roadmaps, bug fixes, and technical updates. Most of our core development work is hosted on GitHub, serving as our source for code progress.
We've adopted a 'default alive' mindset, emphasizing the importance of spending less than what we earn. Additionally, we're exploring potential venture capital avenues and maintaining meeting notes within this system.
We've made significant strides in the past year. Notably, we established a spatial art gallery, a collaborative effort involving team members like Florence. This initiative required substantial effort and coordination, especially considering our aim to create a bespoke version for a key contact met during an art event.
Our work also extends to my private gen art collection, demonstrating the potential of a virtual art gallery. We've invested time in creating the ikigAI Labs Discord and rebranding efforts, including setting up a new Twitter account, which has achieved a milestone of 1000 followers.
A major undertaking has been curating 420 culturally relevant NFT collections, which we showcase on ikigAI Labs as an aggregator. This involved meticulous work in gathering contract addresses and integrating them into an Airtable.
We've also been developing an in-house AI agent, with substantial code contributions visible on GitHub. This development is expected to significantly contribute to ikigAI Labs' value in the coming years.
Our MVP (Minimum Viable Product) 1.0 received a $10 million acquisition offer from a project called REDACTED, which we declined to stay true to our values. This decision led to the development of our MVP 2.0, created in collaboration with Reservoir Tools. This version has been operational for six months.
Looking ahead, we aim to refine our MVP 3.0, focusing on a more minimalistic, artistic UX, emphasizing the visual aspects of art over trading functionalities.
Financially, we've been mindful of expenses, with notable investments in legal structures and paying our CTO, Roy. Our goal is to maintain financial sustainability, particularly through the sales of our membership NFTs and the Genesis Collection.
In terms of human resources, Roy, our CTO, has been instrumental in our technological advancements, winning several hackathon awards recently. His expertise is crucial in building a solid foundation for our projects.
As we move forward, we're prioritizing impactful work. We've set a goal to focus on five significant tasks each week, using our work management tool to track progress. This approach helps balance life and work while ensuring we make meaningful contributions to our projects.
Our immediate plans include exploring user attraction strategies, refining our product, securing venture capital, and maintaining our financial 'default alive' status. We also aim to showcase our editorial content and code repositories on GitHub and Slack.
We look forward to discussing these developments further in our upcoming meetings. Good Monday, Peace out
In this session, we dive into the latest version of our product, ikigAI V3.
The opening page of our platform features the logo, wallet connectivity, and a primary call to action: getting on the allow list. This is facilitated through a project called PREMINT, enabling private access to our Discord or mints and inviting users to exclusive events.
Initially, the home page's first fold is basic, but plans are to make it more visually appealing, possibly featuring images from our collections. I've taken screenshots from the actual production site to guide you through the current functionalities of V3.
The second fold on the home page offers users their first NFT mint for free. However, the current visual, a creation of Dimitri Daniloff from the Playstation campaign, will not be the free NFT but used for the OG Founders Club. This section demonstrates our minting flow, from wallet connection to transaction confirmation.
The interface shows the minted NFT details, including metadata like creator, curator, collection, network, and edition type.
Our main business model revolves around minting a membership NFT. Initially, we planned to use three separate NFTs for different aspects of our platform, but now we'll use a single NFT with multiple images through a contract called Doppelganger by Transient Labs. This allows users to showcase different aspects of their identity, whether as a collector, curator, or creator.
The MVP's menu bar offers sections like Home, Explore, Dashboard, About, and a link to LiveTheLifeTV, our editorial section. The Explore page lets users browse through our handpicked collection of 420 NFTs since 2017. The Dashboard section provides transaction data and account details.
Our platform is Blockchain agnostic, allowing users to view collections across different chains. It also enables filtering by categories like pixel art, AI, gen art, photography, and collections from our icons or ambassadors.
An example showcased a collection on Arbitrum, with filters for rarity and price. We also demonstrated the ability to buy or bid on NFTs listed on other marketplaces like OpenSea, directly from our interface.
The user interface prioritizes visual prominence of NFT images, with metadata tags and descriptions available upon scrolling. Tests were conducted live in production, including listing NFTs for sale and making bids on specific pieces.
Our dashboard allows users to view their NFTs, offers made, and other on-chain activities. The focus is on testing the base functionalities of the MVP.
Next, we discuss our collaboration with Transient Labs, particularly their T.R.A.C.E technology, bridging traditional and digital art worlds. T.R.A.C.E provides tokenized records of artwork certification and evolution, tracking changes in ownership, exhibition history, and adding narrative authenticity on-chain. This is implemented through a secure temper chip linked to the artwork, paired with a digital certificate of authenticity as an NFT.
T.R.A.C.E technology records and updates the artwork's journey, fostering a deeper connection between artists, artwork, and collectors. This approach widens our target market, allowing for the sale of physical art backed by Blockchain technology.
Finally, we discuss our business model. It's centered around the sales of our membership cards. Our valuation is set at around $5 million, with plans to raise 20% for $1 million upon reaching our first revenue milestone. Equity is distributed among creators, curators, collectors, and investors, redefining yield farming in the context of our NFT project.
In our most recent zoom recording, we delved into the intricacies of our software 'Monday', dissected our business model, and strategized about our future in fundraising and equity distribution. This editorial encapsulates the vital points of discussion, shedding light on our direction and vision at ikigAI Labs.
Our discussion began with an in-depth look at 'Monday'. Far from being just another piece of software, it represents the bedrock of our operational focus. It's crafted to streamline our processes, ensuring that we remain centered on what truly matters for our business's growth and stability.
A pivotal part of our strategy revolves around our unique business model, integrating membership NFTs and the OG Founders Club NFT. This approach isn't just innovative; it's a game-changer in how we engage with our community and stakeholders. The model's pricing structure and the inherent advantages of each NFT were discussed, highlighting how these elements form the backbone of our future business endeavors.
Our fundraising strategy, crucial for our expansion and sustainability, involves conducting eight rounds of fundraising, each targeting $125,000. This systematic approach ensures a steady influx of capital, vital for our growth. We also discussed the varying discounts offered in each round, reflecting our commitment to providing value to our early investors.
Equity distribution is a critical aspect of our business model. We delved into how equity is allocated among different roles, such as curators and icons, with specific percentages and values. This structured approach to equity distribution underscores our commitment to fairness and incentivizing contributions across various roles.
We also explored our collaborations with partners like Transient Labs, utilizing their smart contracts to enhance our offerings. The importance of our editorial section and the aggregator marketplace on our website was emphasized, showcasing our dedication to content creation and curation.
Our use of Slack for internal communications reflects our focus on efficient and effective collaboration. The diverse channels cater to different facets of our operations, from code development to strategic planning, ensuring that every team member is aligned with our overarching goals.
The Zoom recording was a simple exchange of ideas; it was also a reaffirmation of our commitment to innovation, strategic planning, and community engagement.
As we move forward, these recordings will serve as a guide, helping us navigate the complex yet exciting journey ahead.
Not sure who needs to hear this, but it is completely okay for artists to mint works just for the sake of utilizing the blockchain as a time stamp. Not everything minted needs to be listed for sale immediately.