When we launched Project Kuma, it was marketed as a hybrid “memecoin ETF” NFT:
12,828 NFTs
Backed by a basket of 11 meme coins
Burn NFT → redeem underlying tokens
MemeTech-powered infrastructure
That was the intended design
On-chain reality:
Mint price: ~0.044 SOL (~0.033 SOL to creator wallets + rent)
~424 SOL total across 12,828 mints
That 424 SOL was split between two creator wallets (~212 SOL each)
At the time, that equated to roughly ~$25k per wallet
The escrow wallet never held SPL tokens
The $MEMETF token referenced in metadata was never deployed
No redemption mechanism was completed
56 NFTs were burned via standard Metaplex burn, no tokens were distributed
Those are the objective facts visible on-chain.
Now my role:
I built the NFT collection art direction, structure, rollout, positioning.
The token deployment, escrow implementation, and redemption mechanics were not under my sole control. They were dependent on partner execution.
Mid-process, both partners disappeared
No escrow funding
No token creation
No redemption infrastructure completion
The project stalled before the backing layer ever went live
To be clear:
The 424 SOL from minting was distributed between the two creator wallets. I did not walk away with that amount. My continued revenue has only been secondary royalties
This was not structured as a rug from my side.
It was a structural failure in partnership, control, and execution
I should have required:
Multi-sig custody
Escrow verification before mint
Deployment authority control
That’s on me
Project Kuma was an incomplete build, not an intentional drain
Lesson learned
Still think @ProjectKumaSol is one or the most original NFT series on sol..
It is a hybrid fusion NFT awaiting the unlock of the burn mechanism..
The NFTs feature 12 different memes, all forming the basis of the series.
The cat moons. 🌙🐱
KUMA is for the patient.
One of the most undervalued and unknown NFT series is @ProjectKumaSol. Excellent design by combining $BOZO $BOBO x #anime.
It's actually pretty fucking sick.
https://t.co/PMqpJP7rZT
@ProjectKumaSol what a beautiful project ❤️ each NFT is backed by a basket of tokens - see attached screenshot - and can be redeemed for the tokens 🔥 Burn mechanism 🔥 This feature will be stealth launched so get in cheap now before skyrocket will join the party #SOL
.@ProjectKumaSol NFT series is fucking brilliant and even more so: cheap as fuck!
Floor is below mint price.
Sweeps happen every few days.
Scavenge through and you might find something fitting your likes.
This beauty is for sale for $SOL 0.04 only ($6.52).
https://t.co/EMzQkIS6Xy
These are KUMA's, rarity driven fusion hybrid NFT's. In simple English:
NFT's which can be burned for a (yet unknown) basket holding 10 different memes... 👀
Or just have fun, make it yours.
A pfp?