April Updates for Investors, Stakeholders, and Friends
Another month is in the books. April brought a few showers, but it got us ready for the May flowers. Plenty of amazing things happened in-between. Read on for edge-of-your-seat developments from Praise Token, Inc.
- Products: We launched the Praise Pals™ and sold out, but there’s more to the story.
- Sales: We’ve done $250,000 in sales since launching our presale, and nearly 25 ETH in trading volume since listing on Opensea. The floor price has remained fairly steady, which is rare post-launch. We continue to see sales on the secondary market each day.
- Roadmap: The Gold Membership Card drops on 5/15/22
- Partnerships: We partnered with Rarity Sniper to create our Official Rarity Index for collectors
- Marketing: New marketing campaigns are dropping soon. We ask all investors, founding Pals, Pal holders, and friends to amplify our Tweets and other digital content. Every share helps us gain awareness in the market.
Scroll down for the full scoop.
Products: The Praise Pals™ NFT Launch
Wow. What a journey. The Praise Pals™ collection dropped on 4/13/22, in partnership with Origin Protocol. With lackluster sales in the first 24 hours, we paused the pre-sale. We had underestimated the market conditions for what we thought was a guaranteed sell-out.
After deliberating with the entire team, we decided to focus on core supporters and swiftly cut the collection from 8,888 to 2,222. We now have a sold-out collection, 430+ Pal owners who have seen us course-correct and listen to the community, and ongoing sales. We are a galvanized group—in it for the long haul together, knowing the team has guts and the ability to execute. Sales continue to roll in at a healthy pace. Big shoutout to Origin’s tech team for helping us execute this.
Sales: A Strategic Approach to Consistent Growth
Our short-term plan is to do what any business would do: We’re shifting gears to focus on marketing, sales, and BD. Behind the scenes, we’re speaking to potential partners every day.
Now that we have a tradeable product on the public market, interested parties can “ape in” and HODL their Pals to show support for the project. This method has created almost 25 ETH in sales volume in the past week.
When we reach 100 ETH in volume, Opensea will add the magical, blue verified badge to our Opensea page—which is known to increase sales significantly.
If you’d like to partner with us, drop us a note on Discord.
Roadmap: Gold Membership Cards, Coming Soon
This month, we announced the launch of the Praise Experience™ Gold Membership Card, which is slated for private presale on 5/15/22. Member cards will only be accessible to Pal holders during the presale. Among other perks, the card grants private presale access to most future NFTs and makes the price of those NFTs free + gas.
The idea is to shower our early adopters with praise by offering them our future products for free, allowing them to hold ‘surplus NFTs’ or list them while still maintaining at least one of each asset for themselves. This rewards the holder base while still growing the collection’s owner count. We then earn transactional revenue through secondary sales from our holders. The Gold Membership card is like the ultimate loyalty program and cheat code.
Member cards will carry a bunch of benefits, including:
- Mint additional member cards with just gas, then resell on Opensea
- Receive a significant discount on Praise Pals™ merch, coming soon
- Auto pre-registration for our next private event, which is tentatively scheduled for June / July in the Hollywood Hills at an undisclosed location
- Auto-join the presale Allow-List for our first utility-focused NFT drop: Praiseland Islands. This will be a free mint + gas. Owners can keep their islands or sell them on Opensea.
- Auto-join the presale Allow-List for our next collection of 2,222 characters, which will be modeled after the guests at our upcoming event. This will be a free mint + gas. Owners can HODL or sell their Gen II Pals on Opensea.
- Earn $PRAISE on a daily basis from our network token emissions (scheduled to release in Q3)
- Enjoy exclusive experiences and events with culturally-aligned partner communities
Partnerships: Rarity Sniper Creates the Official Praise Pals™ Rarity Index
It has been a true joy working with Rarity Sniper to build the rarity index for our collection. Known as a leader in the space, we contacted the Rarity Sniper team several months ago. When we reconnected this week, it was a 48-hour turnaround to get our rarities properly tweaked and listed.
Web3 is all about partnerships and the cross-pollination of communities. We plan to work with Rarity Sniper in the future and don’t have anything but kind words for them. Thanks, team!
Marketing: Building Awareness and Trust
We’ve done a stellar job nurturing our early base of 400+ Praise Pals™ holders, but in order to grow, we must create more awareness. We’re aiming to reach 1,000+ owners for our genesis collection. Our marketing plans for the short term include:
- Growth partnerships with other communities who would like to buy into our collection and/or offer Pals from our vault to their communities.
- Partnerships with Influencers who agree to purchase Pals and or promote the brand to their audiences. We already have one such deal in place, launching soon.
- Promotional social campaigns with trusted brands like Rarity Sniper
- Homegrown Twitter raids, contests, and giveaways
This is just the beginning for Praise and the Praise Pals™. Our membership card is the key that unlocks a whole new world of NFTs. Later this year, it will integrate with our token, $PRAISE.
Our story continues to unfold, and we’re glad you’re here for the journey. Give someone a hug today. Love, Peace, & Praise. 🙏🏻