Today was incredible.
Hundreds of comments, testimonies, amazing stories and memories.
4 years of Quirkies.
Humbled to be surrounded by the best people in web3.
We love those antennas. We love those Quirks.
We are excited to announce that, starting from today, we will designate 33% of net profits from @TheQuirkLife apparel and clothing sales to the $STREET VAULT to purchase more $STREET.
These distributions and purchases will take place at the discretion of the team (volume for the apparel brand can change based on the season, distributions and purchases could be monthly or sometimes quarterly)
At this time we will sunset the spend-and-receive program as we believe bringing profits to the $STREET Vault will assist in creating stronger alignment between the potential growth and success of The Quirk Life and the web3 side of our ecosystem.
This is what a true web2 → web3 flywheel is designed to look like. Revenue generated outside that can still align with the ecosystem. Thank you @token_works for building this technology.
Note: This does not include sales revenue from Quirk Quencher or other special items. Those may be sold on https://t.co/STvZ8e4TWd but will be treated on a case by case basis as we may have distinct promotions planned and/or individual partners.
Thank you for your time and your dedication to Quirkies. Our vision is to build and scale @TheQuirkLife to be a known and successful brand far outside the walls of crypto and NFTs. We don't know what revenue will look like, we don't know what growth will look like but we do know one thing...
People LOVE our apparel, designs and we will do our best to bring this brand to the world... with your help
Thank you all
- From the Quirkies & Quirk Life team
🔥 Hey Quirks, I did something 👀
I decided to buy the most expensive @quirkiesnft from the TokenWorks $STREET marketplace for 1.5 ETH basically double floor price...
Why ?!
We burned another .22% of $STREET sending total burn to 13.91% which remains 3rd highest in all TW 🔥🔥🔥
And ... the cherry on top it saves the STREET VAULT about $2500 because i'm obviously not going to take the bounty.
Only two Quirks in the protocol atm but we inch closer to the next purchase and remain strong just under to $2M marketcap
Welcome @matero_qzino to Quirkies and congrats on an incredible OG to enter the family
We appreciate other web3 builders supporting our brand and being intentional with the art.
Quirks lets give him a big welcome
My favorite part about the IRS is when I call them to get a required form that I can only get by calling them but I can't even get through to a person to request the form "due to extremely high call volume" so I'll probably just go to jail instead
The purpose of the MON token sale is to achieve the broadest distribution. We chose Coinbase (and their allocation algorithm, which is democratic and transparent) because of their unique ability to reach an audience that we think is important to engage and re-activate. The world is a big place and it's so important to break out of the bubble.
The allocation algorithm is transparent about what it incentivizes.
- There isn't a prorata component, which would have inflated total bid size but put more tokens in the hands of whales.
- There isn't a time priority component, which would have incentivized early commitments but created unfair outcomes from users slamming the servers with bots to be first.
- The algorithm is highly transparent, where a less-transparent algorithm or team discretion might have caused bidders to bid earlier or larger in the hopes of a larger allocation.
Token sales are a major trend this year, and with many sales, there is a sense in which the sale terms are constructed to make the outcome sound as impressive as possible - "XX oversubscribed" and so on. It reminds me of years back, when I was raising from VCs and people would advise me to gather as much VC interest as possible in order to pitch to other VCs that "this round is 10x oversubscribed" to get them to FOMO in. I was never interested in doing that though. To me that always seemed a little cheesy, and like a short-term optimization. Smart people see through the gamesmanship anyway. Better to be transparent and to focus on the stakeholders who will be most beneficial to the project's growth.
In the MON token sale on Coinbase, users get 5 1/2 days to decide whether to commit, and once they commit, they're locked in. (That actually incentivizes people to wait until the last minute to evaluate, which is an interesting dynamic that might be revisited for future sales.) For someone on Crypto Twitter, that optionality might be a big deal. For someone not in our bubble, maybe not so much.
We'll see how this plays out, but I am grateful for the opportunity to try something different, and to expand the set of stakeholders beyond our bubble