💰

Mint Fund Breakdown

Note Degeneratenews has succumbed to public pressure to reveal more info related to its future use of NFT mint funds - despite our initial intention of concealing some of our plans to prevent potential copycats.

Disclaimer

@degeneratenews, which has been run by the same no-lifer (@dn_founder) Since its inception, has never generated revenue - to those that say otherwise, Wen evidence?
Today, our ambitions make it imperative that we start generating revenue. Despite DEGEN NEWS having received many acquisition proposals over the past months, @dn_founder has chosen to take the ultimate risk and reject those to build a decentralized WEB3 news network that serves all stakeholders in an impartial manner.
Has it always been @dn_founder’s goal to create a News network out of @degeneratenews? Yes, the decision was made after running the account for 10 days - you can expect that level of planning and Long-term vision from us moving forward.

Degen HQ (60% of mint funds)

To be used to create “degen HQ” - a report to earn dApp that will serve multichain stakeholders - the council, reporters, and the public.
To be finalized by April 2023:
  • Reporters: Provide info to the council.
  • Council: Approves/Rejects info and its publishing.
  • Public: Consumes the info.
Reporters are compensated based on the accuracy and pertinence of the info that is provided - the council based on what’s published. This mechanism Will be the first of its kind to be fully automated.
Enabling a 24/7 dedicated Team to provide coverage for:
  • Wider audience (standard).
  • Specific DAOs, via partnerships - which are disclosed to the public with total transparency.
Conventional revenue streams to be generated on our platform:
  • paid promotions, via banners, videos, and more - vetted by qualified specialists.

30% of Mint Funds

Despite our decentralized approach to outsourcing reporters and editors, we still intend on employing several qualified degens per reporting pillar, more info can be found here:
  • Hosting weekly Twitter spaces.
  • Content creation, allowing us to: A. Provide articles of the utmost quality on our website for the exclusive use of NFT holders,
    B. To expand beyond Twitter, with both written and video content.
  • Hire pro degens to provide Alpha to our discord.

10% of Mint Funds

  • Travel costs of employees to cover events and interview degens.
Some have asked whether these proceeds would be used to go to the Bahamas and meet @sbf_ftx - maybe, but we would have to guarantee an interview beforehand to avoid fruitless expenses.
  • Travel costs for our core team members to close deals that benefit our NFT holders - not expected to be frequent, and to be disclosed whenever it occurs.

Final Word and Considerations

@dn_founder May have always wanted to create a Web3nmews network out of the @degeneratenews experiment, but that is only the case because of his love for the NFT space and community. @degeneratenews has grown to become what it is today because it has always heard the concerns of the community and subsequently adapted.
The funding provided by the NFT collection Will allow us to address concerns even more effectively. Fud that is factual allows us to learn, adapt, and grow - we invite degens to relentlessly keep shooting (metaphorically) at us. Fud that is not factual May be disruptive short-term, but does not change @degeneratenews' intrinsic value.
We understand that there still might be questions regarding our project, and we invite you to reach out to us via dms whenever you want If you want to be Part of our mission to report on NFT nonsense until we become the most prominent Web3 news network out there, mint our NFT collection on Dec 12.
If not, we look forward to sharing this space with you nevertheless.
Last modified 1yr ago