WHAT

For the past few years, a small group of us have been chasing a vision that could reshape the NFT landscape, addressing a fundamental challenge that has plagued the NFT space since its inception: liquidity.

Back in the early days, when NFTs were just starting to capture the imagination of artists and collectors, we saw both incredible potential and glaring issues. The unique nature of each NFT made them fascinating but also difficult to trade. Markets were inefficient, and many promising projects fizzled out due to a lack of liquidity.

We spent 3.3 years brainstorming, debating, and prototyping solutions. Our goal was to create a system where NFTs could have intrinsic value backed by tangible assets, providing stability and confidence for both creators and collectors.

The Odyssey Begins

Our journey wasn't easy. We poured our hearts, time, and personal funds into exploring this idea. There were moments of doubt and frustration. We worked unpaid at various organizations, hoping to push the needle forward but often feeling like we were spinning our wheels. But the setbacks only fueled our determination. We knew that the NFT market needed a new paradigm, one that could offer real value and liquidity. So, we continued to refine our ideas.

Turning Vision into Reality

In the midst of this journey, Ikigai Labs emerged as the vessel to bring our vision to life. We believed that with a lean team and a focused mission, we could build something impactful without the need for massive investments. Our main focus at Ikigai Labs was always on curation and indexing—building a marketplace that wasn't just about buying and selling but about showcasing truly valuable and curated NFTs. We partnered with industry veterans to hone our approach.

The Struggle with Indexing

One of our biggest challenges was on the technical front, particularly with indexing. Our developer, although brilliant, was hesitant to dive back into indexing due to the time and expense involved. We pushed third-party platforms like ThirdWeb and Reservoir for over 18 months to integrate Berachain, the blockchain we believed held immense potential. It was a slow process, but eventually, they saw the light. Their integration allowed us to move forward, but it was a testament to our persistence and belief in our vision.

The Impact on Artists and Collectors

For artists, this model offers a new level of confidence. Their creations are not just subject to market whims but are underpinned by real value. They also benefit from ongoing revenue streams through secondary market fees and Treasury operations.

Collectors, on the other hand, gain NFTs that have intrinsic value and liquidity. They can invest with the assurance that their assets are backed and that there is a clear mechanism for trading or redemption.

Reflecting on the Journey

Looking back, the journey was filled with highs and lows. There were times when it felt like we might never realize our vision. Financial constraints, technical challenges, and interpersonal dynamics all tested our resolve. I remember feeling like a failed project manager at times, especially when product deliveries didn't meet expectations. But each setback taught us valuable lessons. It wasn't about pointing fingers or placing blame; it was about persevering and staying true to our mission.

The Road Ahead

Today, Ikigai Labs stands as a testament to what can be achieved with passion, grit, and a refusal to give up. We've built a platform that embodies our vision and while our focus remains on curation and bringing real-world art into the digital realm, we're collaborating with BeraMarket to continuously explore ways to turn illiquid JPGs into liquid assets through permanent backing. We're proud of what we've accomplished so far, but we know there's much more to do.

The idea was elegant in its simplicity yet profound in its implications. We spent countless hours dissecting smart contracts, exploring decentralized finance (DeFi) protocols, and brainstorming solutions. The idea of backing NFTs with tangible assets began to take shape. We envisioned a system where each NFT wasn't just a digital token but a representation of real value—where collectors could have confidence knowing that their investment was underpinned by actual assets. But how could we achieve this without sacrificing the creative essence of NFTs?

The Core Concept

  • Treasury Backing: Allocate a significant portion of the NFT minting revenue.
  • Asset Acquisition: Use the Treasury funds to acquire appreciating assets.
  • Continuous Growth: Yield on the Treasury assets = Increasing the backing.

Embracing Beramarket

Our journey toward revolutionizing the NFT space wouldn't have been possible without the contributions and inspiration drawn from the broader community, particularly from projects like Beramarket. Over the years, our ideas and code have often intertwined with theirs, fostering a spirit of collaboration and shared innovation that propelled us forward.

During the challenging times of the bear market—or as we fondly called it, the "beramarket"—we witnessed many projects sunset and teams disband. Yet, some of us continued to grind, dedicating countless hours to pushing the boundaries of what's possible. Personally, I spent nearly 690 days immersed in this endeavor, reviewing over a thousand GitHub repositories, deploying more than 140 smart contracts, and even working through a broken shoulder. The commitment was unwavering, and the passion unrelenting.

There were moments when the weight of the journey felt overwhelming. Funding development out of pocket was no small feat, and witnessing others step up to contribute significant resources was both humbling and inspiring. It's essential to acknowledge and respect the collective effort that went into bringing our shared vision to life. The odyssey we embarked upon wasn't a solitary pursuit but a collaborative adventure filled with challenges, learnings, and mutual respect.

Even when paths diverged and teams restructured, the underlying goal remained the same: to revolutionize the NFT space and create lasting value.

Imagine minting an NFT where 100% of the payment goes into backing the NFT. Now imagine creating NFTs that are essentially risk-free investments.

Embracing Collaboration

The journey we've undertaken has been filled with challenges, triumphs, and invaluable lessons—a testament to the power of perseverance and the importance of collaboration. We hold immense respect for everyone who has contributed along the way—those who invested their time, resources, and passion into this project. The shared experiences, both the highs and the lows, have shaped us and propelled us forward. As we move into the next decade, we're committed to fostering a culture of mutual respect and shared success. We acknowledge the challenges faced, the relationships tested, and the lessons learned.

Moving forward, we aim to build upon the foundation we've laid, embracing new collaborations and honoring the rich history that brought us here.


Thank you for taking the time to read about our Odyssey. We look forward to what the future holds and hope you'll be a part of it. This article is open to feedback and contributions. Feel free to share your thoughts!