After receiving some feedback in private messages, we decided to add some more information to the current proposal.
1. About Lorem Ipsum Metaverse, what we try to be, what our goals and destinations are.
Lorem Ipsum is a Metaverse as a Service. It’s not a game, but an open gamefield environment for communities of creators, artists, musicians, game devs, etc.
What problem are we solving?
In 5-10-15 years the Internet will not be a 2d environment anymore. It’s getting boring and outdated. We order food, clothes, watch videos and movies, chat with friends, and work using dull 2D interfaces. VR and AR will soon change this. We will move to 3D and start working in a 3D environment.
Lorem Ipsum is creating this kind of environment:
Do you have a NFT community? Go to Lorem Ipsum, hang out with your friends there. Have to work now? Here’s a virtual workspace for you. Cosmoverse is taking place in a week but you can’t join it because Colombia is too far away from you? Go to Lorem Ipsum and participate in it online watching the speakers on big screens and meeting people online. Want to play some games or watch a movie after a day at work? We got you covered with a variety of games and integrated cinema. And so on.
2. Our funding and revenue and how we are going to scale.
First of all, to this date our project remains self funded. More than that, most mint procedures are going to ecosystem, foundation and community funds. Founders get only a small part of it. To this point of time we sold 7% of our collection, while we see quite a lot of interest around us (check our Twitter: @GeeksPicsNFT), we decided it would make sense to open for a wider community and use our space to benefit Secret Network.
Revenue streams:
Stage 1 (now) - revenue comes from collection minting
We are selling NFTs almost every day now. Slowly but steadily, 3-4 a week in this market conditions seems fine to us.
Stage 2 (after collection minted out) - royalties from Geeks NFT sales and borrow/lending (a), commissions from creating and integrating custom locations (b), nodes revenue (c), investors (d).
(a) Why do we think Geeks collection will be bringing us enough revenue from secondary sales and lending/borrowing?
– Because Geeks are privileged users of the Lorem Ipsum Metaverse. They get access to all locations and features that are being added to the Metaverse. With each location their value will rise.
(b) During Stage 1 and Stage 2 we do all the work for organizations that want to have their location set up in the Metaverse. On the Stage 1 we don’t add up any % for doing this job for them, only ask enough to create the location. Now we are working with the projects that we like ourselves and don’t charge them for our services.
When Stage 2 comes, we will be adding up some % for creating the concept, server maintenance, graphics design and so on. If they decide to add access with a specific NFT collection, we’ll be requiring some royalties from their NFT mint and sales too.
(c) - Metaverse is a hot topic of 2021, 2022 and is expected to be even bigger in 2023, especially if the bull market is coming back. Venture capitals and others are interested in it and invest big money into Metaverses. Once on stage 2, we will be looking for these opportunities too.
Some researches and articles to read:
- Metaverse may be 800 billion market
- Metaverse market size 2021-2030 | Statista
Stage 3 (when we release land for sales and builder) - all mentioned in stage 3 + land sales, events organizations, auctions, custom location creation orders