Problem Overview

Why we're attempting to create a token to power the Old Money ecosystem

The evolution of NFT projects across all blockchains has been swift and continues to change at an impressive pace.

It's given us a long list of lessons from your typical flat-out scams, silly tokenomics, stolen art, distrust of once-praised non-doxxing of Founders, pump & dump schemes, and countless other positives and negatives. Yet there is still so much to learn when creating a profitable, sustainable business/brand with the proper legal framework in the crypto/Web3 space.

Creating anything of value takes devotion, passion, and time. As it grows in complexity, so does what it takes to execute. Even the creators with the purest intentions can find it difficult to satisfy what's expected by the "wen" culture with NFTs. It's not always problems with the level of output, speed, scaling, varying market conditions, funding, or execution, although those aren't challenges to take lightly. As communities grow, it becomes increasingly harder to make everyone universally satisfied with the decisions being made.

Motivations for each individual in your community will be different, and they can even be "in it" for multiple reasons; it's not black and white. Individual motivations can change over time and can even be influenced by others, inside or outside the community. What's the end game for you as a community member with a single asset? How about a founder? As a whale? As everyone in between?

Ultimately someone is responsible for making the decisions that drastically affect the direction. What each individual defines as their version of "success" may or may not be a part of that.

Another complexity is if a subset of people knows and withhold information that will affect the outcome, there will be winners and losers. It's human nature for it to be exploited. Unfortunately, this is almost built into NFT culture. It's natural and even encouraged to have mystery, create hype, and FOMO with the precisely timed release of information.

If an NFT project doesn't have absolute clarity behind the intention of all of its moves, then what's truly the purpose of the lack of transparency? Maybe because they are still planning and don't want to set false expectations. It could be because they're a bad actor that plans to rip people off by making fake promises. What if it's because they don't know what they're doing or it changes over time? What if the Founders know it will manipulate the market and are strategically using it to build momentum?

Combining all these dynamics creates an environment where it's rewarded to enhance speculation versus building something of sustainable worth. Constructing things for the sole reason of farming hype or making grand promises that postpone an inevitable collapse. Everything focused on boosting the floor price with fake incentives to prevent selling. Can something exist long-term when the singular value it provides to its community is pure speculation?

Because of this lack of transparency, things always fall back to those same human instincts that create winners and losers based on who holds the information. Truly aligning a collective on a shared set of goals is impossible, with a limited set of people making all decisions behind closed doors.

We always had, and continue to have, absolutely no interest in creating something deceptive. Therefore, the question of Old Money's future can't be answered without all cards on the table and moving forward in the inflationary journey together as Mfers.