Funky Frens AMA
Hi everyone, we are very excited to host our AMA (Ask Me Anything) on Tuesday March 22nd, 7pm Pacific Time.
Since we have a lot to cover, we’ve decided to provide answers to more basic questions ahead of time, so we can spend the AMA answering the deeper, more complex questions. Here we go:
When did Funky Frens start?
We came up with the idea in late November 2021, and bought our website domain in early December. We opened our Discord on January 15th, just over 2 months ago. From there, the road to launch has been passionate, challenging, and extremely fun!
How did you come up with the idea of Funky Frens?
It started when Funky Panda tried finding an NFT that looked like him. There were a lot of cool and cute animals/inanimate objects, but very few projects represented our real-world selves. In addition, we wanted to create our own community of like-minded, diverse, and collaborative members. As long time holders of crypto and NFTs, creating Funky Frens was a no brainer!
What is the supply? Why did you choose this number?
We chose to create 10,000 frens. We started this project because we could not find any collections that looked like playful human beings. It was our mission to create the most diverse collection possible. We have 600+ traits in total; both male and female frens, four shades of skin color, and a myriad of facial expressions, hairstyles, outfits, and clothes to match anyone’s personality.
What is your mint price and why did you choose that?
Our WL mint price is 0.01 ETH and our public mint price is 0.03 ETH. Our goal is for Funky Frens to be a gateway for people to own their first NFT. Whether you are a beginner or NFT veteran, our project is for you.
If we’re being honest, we think our original artwork is worth much more, but we vowed to make a collection that is accessible to anyone. A high mint price wouldn’t enable us to build the diverse community we want.
How many team members are there?
We are three co-founders who are best frens for 10+ years and all live in LA together (you can read more about us here). We also have a team of eight moderators who help us regulate the Discord and assist with international frens (shout-out to Tokey, iDev, Biztipz, Jinju, WoahKenny, MSU, Py, and Andy Sing!)
On top of that, the founders keep a close group of NFT veterans and advisors to help guide us. These are our IRL frens and some are founders of their own projects.
What will you be giving back to holders?
Our flagship utility asset will be the creation of the Funky Fund, a community-governed treasury funded by 40% of all primary mint sales, and 2.5% of secondary sales via royalties. Think of it as the “shared bank account of the Funky Frens community.”
Funky Frens holders will vote and decide on the future of our project.
Soon after mint, we will be creating a voting / proposal system to enable community-driven ideas and initiatives. For example, community members can propose the following:
- Metaverse land acquisition/distribution
- Marketing outreach
- 2nd generation project funding
- Team scaling (animators, consultants, etc)
- IRL events
The more frens you hold, the more say you have in our decision-making process. Proposals can be suggested by holders, driven by the community via discussion, and finally enhanced by the founders prior to vote.
Our vision is to create a longstanding democratic community that elevates each individual member to foster more positivity.
What is your plan for the Metaverse?
Our vision is to create Funky Frens University, a creative campus for innovative collaboration within the Metaverse. Special perks in community-owned spaces will be given to holders of Funky Frens. Examples include special social events, community-driven games, retail stores, classrooms, town halls, and more.
While the founders have outlined a Metaverse roadmap, our land acquisitions and development plans will ultimately be deliberated and discussed amongst our community via open proposals.
The founders aim to serve as mediators and facilitators to drive discussion and idea generation amongst the community.
Will you have passive income?
After consulting a few lawyers familiar with the NFT space, we discovered that our initial plan of distributing passive income (in the form of dividends) to our holders violates US Securities Law and Sweepstakes Law. As a result, we have pivoted to other means of benefits for our holders, derived from our Funky Fund.
Are there any added benefits for OG worked out yet?
We have a group of ~30 supportive frens who have been active and engaged since we were under 400 members. They are considered our true OGs and will be entered into a raffle to win 2 rare frens. We also hope that OG Frens will be ambassadors for the community and drive discourse / proposals.
Do you plan to release more collections after Funky Frens?
We plan to release a second generation of Funky Frens separate from the initial collection. We plan to periodically add to this collection with seasonal drops (pending community approval). Profits will be allocated back to the Funky Fund; the community will vote on how funds are allocated (charity, derivative project funding, etc).
Are there any live events planned for frens? Including outside of USA?
We plan to host IRL meetups and events. Our first meetup will likely be in Los Angeles, CA (our hometown). However after that, our community can help us decide where to host events!
More questions will be answered during our AMA on Tuesday March 22nd, 7pm Pacific Time.