Mike Franti

Photography, video, printmaking and installation.

MFA in the Interdisciplinary Master of Art, Media and Design.

[yaypegs @yaypegs]

Yaypegs is for sale

Today was the final straw for us. The Animaglia account got hacked, and the collection was made completely free, marking the biggest violation we've faced in this space. Despite enduring harassment and threats behind closed doors, we kept it private. But today's attack was the tipping point. Due to this, we're forced to take the following measures: Yaypegs is for sale!

Our Solana account has been drained and mint conditions changed. We ask Metaplex to deactivate the Mint Page, because the account is compromised.

We have thought about all possible scenarios and came to the determination that new leadership has to come to Yaypegs, which is why the project is for sale.

Our intentions could not be clearer:

1 - Yaypegs was free and 0% royalties.
2 - The community voted to activate 5% royalties (NON ENFORCE Royalties). So we only received 69 ETH of the ~450 ETH.
3 - We worked for 1 year, we work with funds that are not enough for 6 months runway, to achieve that, We worked for free. So part of the team continued working the rest of the year for free.
4 - We were transparent in everything throughout the entire process: 65 announcements, 35 weekly updates, 20 twitter spaces and governance with 14,700 votes.
5 - In the last 9 months Yaypegs received less than $300 USD in royalties.

More here: 🧵 1 Year Graphic Summary: https://t.co/nuxbawamkt

Our mistakes:

- Not using a Hardwallet for our Phanton account, which we did with Yaypegs.
- Rush the Animaglia Mint.
- Try to go to Solana.
- The impact of the work carried out did not reach the market expectations (conclusion that we draw from the floor price and not from the overall sentiment).

Few NFT projects have done things with good intentions. Most NFT projects have been a scam, others have been slow rugs, we believe that less than 1% are actually doing something for the holders and the space.

Making a startup is extremely difficult, it entails challenges of innovation, continuous learning, working 80 hours a week and the risk that 1/10 will succeed. Having a public company is very difficult because the holders have constant expectations and ideas of how things should be done. NFT is the union of these two worlds and brings the best and the worst of each, and both extremes are constantly expressed depending on the floor price and the general sentiment.

For us, Yaypegs became a toxic environment that we no longer want to be a part of.

Animaglia Holders

The 347 mints and the ~47 holders who minted before the Allowlist will be compensated with Yaypegs from the Vault.

Yaypegs Sale

It will be open for sale for the next 30 days, if at the end of this period the sale is not finalized, the Yaypegs collection will become 0% royalties and will be just art.

In the past there have been two proposals to buy Yaypegs which are expired (This has not been discussed before due to an NDA).

What does the sale include?

1 - Transfer of Social Networks.
2 - Transfer of ownership of the Discord Server.
3 - The Yaypegs that remain in the Vault once the compensation has been made to the Animaglia holders.
4 - Transfer of Ownership of the Yaypegs contract.
5 - Website (All Code) and Transfer of the https://t.co/BHg2nOlM8J domain
6 - Master of the collection's Photoshop file.
7 - Assets Folder Images and Metadata Original Yaypegs collection.
8 - Stage 1 and 2, with all assets.
9 - Folder with the Brand assets.
10 - Animaglia: We will deliver all the images, metadata and master art files so you can launch stage 3.

Only what's listed is part of the sale; anything not mentioned is not included. We'll only respond to serious offers, whether made publicly or privately.

Yaypegs is ready for new leadership.

We appreciate all the support, and we hope that under the new owner, Yaypegs achieves the position it deserves.

This is our second-to-last post; the final one will announce the sale.

Thank you,
The Yaypegs Team.

[yaypegs @yaypegs]

Happy new years and best wishes to everyone!

New proposal.

We read the comments again and we have a new proposal. For this proposal to have effect, it must have more support than rejection in the comments (we will read everything) and option A must be the winner in the poll.

A - Yes I agree
B - No, I won't mint

1 - We will stop the Animaglia mint.
2 - Animaglia Holders: For each NFT you hold you'll receive 5 free Animaglia’s. (If you have 3 you will receive 15 for free to compensate the price difference).
3 - Yaypegs Holders: 1 free NFT per wallet.
4 - Yaypegs Holders: Exclusive price of 0.05 Sol (~$5 USD).
5 - New Public Price: 0.2 Sol (~$20 USD).

Allowlist:
- 3 channels will be created in Discord with a link to enter your Solana Wallet.
- The original Allowlist proposal will be resumed, this means that:

Allowlist 1: 1 Yaypeg | Mint 1
Allowlist 2: 2-10 Yaypeg | Mint 5
Allowlist 3: 11 + Yaypeg | Mint 20

All Yaypegs benefits also apply to Wired Beast.

Disclaimer I: Animaglia is a collection with no roadmap, just art.

Disclaimer II: Although the Animalia contract in Solana has already been deployed, it allows us to make changes to the price and enter new allowlists.

Disclaimer III: The sample must be significant to make a decision.

Your participation is appreciated! Thank you!

[Andre​8️⃣1️⃣ @andrematic81]

Gm! 😊
The fever won't stop me! 💪

[yaypegs @yaypegs]

In FUD response Part II:

We read each of the comments and DM's in detail

In summary:

1 - Make an Allowlist for Yaypegs and Wired Beast holders.
2 - Lower the price for holders.
3 - Split the collection into two 5,000 Solana / 5,000 Ethereum.
4 - Cut Animaglia's Supply in half (5,000).
5 - Lower the price for everyone and leave it practically free.
6 - Leave the project free.
7 - Submit a detailed plan of future plans.
8 - Create a Marketing campaign focused on Solana.
9 - Forget about Solana and do everything again on Ethereum.

After analyzing the comments, we've reached the conclusion that these requirements cannot be reconciled. The inconsistency between them makes it impossible to find a common ground. That's why we consistently base our community decisions on voting, as it serves as the least biased governance tool.

There are two clear situations:

1 - Currently, Animaglia is priced at 0.3 SOL. Despite the absence of a detailed roadmap, we committed to pursuing two significant ideas within our internal plan. Originally, this plan was proposed if the minting cost was higher. For more details, check here: https://t.co/5eTzEbdcQV

(NFT 101: Providing a specific roadmap with direct benefits for holders, cannot be done because it turns the NFT into a Security)

2 - A completely radical approach:

Establish an Allowlist for holders.

People who've already bought an Animaglia NFT can potentially make a free claim for a specific amount.

Considerably reduce the price of Animaglia for holders (to an extremely low level) and also offer a reduced price for the general public. However, we can't uphold the initial promise due to insufficient funds.

Switching gears: Our project revolves solely around art and will be driven by potential future earnings. The founders and the team won't be working without compensation, and the gathered funds might fall short for the initial phase, relying solely on enforcing royalties within the Solana platform.

What's off the table?

We won't turn Animaglia into a completely free project.

If most comments support option 2, we can't promise the same non-stop dedication as this year; we won't be working for free anymore.

Unreasonable demands won't get a response from us.

We won't engage with or respond to hateful content.

We  want to emphasize this for clarity, you want:

1 - A free project.
2 - The team that commits to work.*
3 - A detailed plan (Risk of becoming a Financial Instrument (Legal risk for the team of converting NFTs into a Financial Instrument - Security).
4 - Weekly Updates (Build in Public).*
5 - Holders are compensated.*

* Things we did for a whole year.

Your strategy lacks consistency.

There isn't a method that satisfies every holder; this is the best we can come up with based on what we've read. We'll review your comments once more and decide accordingly.

If you've reached this point without reading the earlier post, you can find it below:

In FUD response Part I:

Facts:

1 - Yaypegs was free and 0% royalties.

2 - The community voted to activate 5% royalties (NON ENFORCE Royalties). So we only received 69 ETH of the ~450 ETH. (If you say otherwise, prove it).

3 - We worked for 1 year with funds that are not even enough for 6 months for the team, to achieve that, I worked for free. So part of the team continued working the rest of the year for free.

4 - The 500 Yaypegs in the vault were never used in any vote. (If you say otherwise, prove it).

5 - We were transparent in everything throughout the entire process and these are not empty words, demonstrated by the 65 announcements, 35 weekly updates, 20 twitter spaces and governance with 14,700 votes.

6 - People who bought Yaypegs and sold during the highest price, made more than 1,000 times the team royalties. Yes, you read correctly, not 10 not 100... more than 1,000 times.

7 - In the last 9 months Yaypegs received less than $300 USD in royalties.

8 - Yaypegs 1 Year Graphic Summary: https://t.co/nuxbawamkt

Yaypegs and Animaglia:

1 - You don't owe us anything for working for free and giving away Yaypegs art.

2 - We do not owe you anything because you literally did not buy the NFT and the money the team received from NON ENFORCE Royalties was used to grow the project. Supporting the project is not enough, it would be the same as paying a creative with exposure.

3 - Animaglia was not free because that was what the majority decided. https://t.co/9rL8EghCaD

4 - Animaglia will not be free (We don’t make the same mistake twice).

5 - If you were blocked from the main account, it is because you violated basic principles of respect. We have never insulted or treated anyone badly, neither for thinking differently nor for being against the project or the team, but if you attack us, do not expect us to listen to you.

NFT 101:
- NFTs are not shares in a company.
- It's your responsibility to buy and sell an NFT.
- In case you think you are an investor, 9/10 startups fail. (But, Buying an NFT does not make you an investor)

Unfortunately, the FUD on NFT, even if it comes from 20 people (mostly anonymous accounts and some without proof of ownership of the NFT), in a project with more than 2,500 holders, is heard louder and does too much damage to the community and the team behind the project.

The people in the community who disagree with the way the project is handled and who have expressed it politely, We’re very sorry for your discontent, but it is impossible to please everyone. That's why all the decisions (except going to Solana) were put to a vote. Link: https://t.co/o1pEy18XjD

For those who comment with lies or hate, we have nothing to say to you.

You want to live in a decentralized world, using decentralized technologies, with voting power and you demand control over everything. They are not consistent thoughts.

What seems most incredible to us is how after all the attacks received there are still people willing to support us. Thank you, we appreciate it very much.

For those who want to continue supporting
@ccmoret, you can buy @AnimagliaNFT
here: https://t.co/If30gTYk8H

[Mike Franti @FrantiMike]

@amz_crypto_tech @AnimagliaNFT based af!👌

[Mike Franti @FrantiMike]

@WTFrogggg @AnimagliaNFT Wtfrog, dope details bro!🫡

[Mike Franti @FrantiMike]

@purpdranknotaro @AnimagliaNFT 🔥🤝

[Rmzy ﾂ @purpdranknotaro]

These are based af ! On $sol too !

@AnimagliaNFT

[Frank Belcak @FBelcak]

GM @yaypegs mates!

I'm ready and waiting for Mint Time @AnimagliaNFT 🔥🤝📈💰

[dibs @dibsdojo]

grabbed two @AnimagliaNFT because i couldnt help myself. seems like i got lucky @yaypegs

[NaturalJack @TheOnlySDB]

Christmas and the New Years hitting at the same time 😀😀 Glad to have minted one of the kings too @AnimagliaNFT Go get it whilst the mint is live.

We knew @ccmoret would kill it with the pixel art.

Let’s see, how strong the community forms after the mint out.

@yaypegs

[Mike Franti @FrantiMike]

@yaypegs Excellent esthetics and clean as always @ccmoret!💸💰🤝

[NaturalJack @TheOnlySDB]

@AnimagliaNFT mint is live. I think I might have just minted a grail @yaypegs ??

[Josh Butte @JoshButte]

@yaypegs this shields are so dope!🛡️ @ccmoret amazing bro!

[Mike Franti @FrantiMike]

@yaypegs @AnimagliaNFT I'm giving it a full-on 100 percent backing! Fire art @AnimagliaNFT @yaypegs 🤝💯🫵🔥

[Mike Franti @FrantiMike]

@WTFrogggg @yaypegs 🫵🤝💰

[Mike Franti @FrantiMike]

@WTFrogggg WTF GM Bro!

[Mike Franti @FrantiMike]

@NickTherus gm legend!

[Bono @bonodfz]

Yo. @AnimagliaNFT in @solana is the best news!! Awesomee!!

[MEEBZ @meebish_]

"Bust of the year"