Tokenfy Update // Q32022

Table of Contents

From day one Tokenfy set out to democratize access to safe and affordable smart contracts that you own. Our idea of a cost-effective way to provide security, trust, and ownership to collections big and small had its challenges and lessons.

We wanted to give you an update on the Tokenfy platform and share expectations around our mission and goals.

How was the launch?

The launch was a success. Our product released in the market with nearly 20 collections already launched. More importantly, we had zero platform bugs detected or reported on. Our focus was delivering a stellar user experience, we believe we delivered on that.

That is not to say there weren’t lessons learned along the way. We went into the beta launch with the expectation of making changes based on first user feedback; the goal was to address any issues ahead of time to ensure the platform (and support docs/systems) were scalable.

We were in Beta Launch longer than we expected for two reasons: (1) we underestimated how much development time would be needed before the platform was truly scalable; (2) we didn’t have a firm calendar with the first projects, so while some gained a following and popularity quickly, others took weeks or months to feel comfortable launching.

How Many Collections Have Used Tokenfy?

More than 20 collections have launched to date with Tokenfy, including several due out this and next week.

How Many Collection Are In The Pipeline?

More than 16 collections are working through their process currently.

What Is The Tokenfy Mission?

Tokenfy wants to make access to secure, reliable smart contracts easy for everyone. Our mission is to democratize access to what has typically been a cost-intense need.

The $TKNFY token is a way for the community of artists and developers to align and connect. It is not necessary for platform success, although it does provide the community with opportunities to brainstorm, partner, and grow. Our goal has always been to offer a world-class smart contract platform so that anyone could launch an NFT collection. We aim to break down the cost and tech barriers to entry.

What Is The Marketing Strategy

Our focus and resources primarily go towards building a world-class platform that democratizes access to NFTs across different chains. As such we have chosen a more grass roots approach to our marketing and welcome participation from our community.
Currently we mostly promote on social media platforms. Twitter being the most prominent. But we are hoping to start posting more visual pieces on Instagram as well as attract enterprise interest across LinkedIN.

We are starting to redesign and position the website to reflect a product that is in-market.
We want to start weekly blog articles and feel that community participation would be a fun way to approach our blog. We have so many talented artists, let’s create together.

We have identified and found success in an Enterprise Industry; Legal/Medical Cannabis. Many marijuana collections; 5, have come to Tokenfy to launch their collections which also have real world utility. We think there is much more potential here and are discussing ways to pursue this vertical with more intent and purpose.

We continue to line up Twitter Space events with collections and artists. We have several in the pipeline with more in scheduling conversations.

What Is $TKNFY?

  • $TKNFY aligns collectors and creators, allowing holders to launch and mint NFTs, earn $TKNFY rewards, and govern the future TKNFY DAO.
  • Tokenfy has always been fully self-funded. $TKNFY was not used for funding and has not been sold by the team.
  • While $TKNFY is a way to align the goals of creators and collectors, the value of the token is not inherently connected with the stability or mission of the platform. It is not an investment in Tokenfy, and it is not a security or exchange of value.
  • Tokenfy is a way to pay for NFTs and Smart Contracts on Tokenfy.
  • Tokenfy is a ticket to a larger ecosystem of creators and developers, all eager to lend their skills to build immersive web3 communities as well as gated Discord channels.

Staking Update

The initial allocation of TKNFY to the staking pool has been depleted; the staking pool will continue to be funded with transaction fees (0.5% of each transaction).

Use Case // Octopeeples – The 11th Hour

Octopeeples is a geat use case example of Tokenfy filling a gap in the market. 

The Problem:

Smart Contract development is expensive and as such excludes many people and ideas from launching. Security of the contract is also a big issue. Having your contract third-party verified helps add trust into your community.

The Solution:

Octopeeples had a great idea, ready to launch and less than 24 hours to launch their solution fell through! They came into the Tokenfy Discord server and our support team, C and S, were helping them immediately. Answering their questions and getting them into the Tokenfy platform and on their way to launch. In less than 24-hours we helped turn what could have been a contract nightmare into a dream; currently the collection of 8,888 Octopeeples, the evolutionary successors to Planet Earth, is SOLD OUT.

Tokenfy fills a gap in the market; the need for easy, safe, secure smart contracts that are affordable and 100% owned by you, the creator.

Tokenfy is excited to grow our offering and continue to support artists and their work.

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