February Update from Praise Token

We’re delighted to give you another update from Praise HQ in Los Angeles. Here are the main highlights for the month of February.

  • Our fully crowdfunded pre-seed round is now closed. We raised $250K from over 300 individuals, angels, and small funds.
  • Our seed round is already underway. We expect to close this month.
  • We’ve added new high-profile members to our invite-only group of 100 founding Pals. Two new additions (both women) are featured below.
  • Development of the Praise Pals™ continues to progress as we gear up for launch at NFTLA.
  • We’ve partnered with Origin Protocol to power the Praise Pals™ drop.

Read all the deets below…

Praise Raises Over $250K in Crowdfunded Pre-Seed Round

Our StartEngine campaign is now closed. We raised $257K from 304 investors. We’d like to thank each and every person who invested at this early stage. It shows strong conviction in our vision and literally fuels us to deliver.

Using these funds, we executed an epic launch event as a proof-of-concept, refined our tokenomics modeling, hired an art team, and built out the assets for our first-ever NFT collection, the Praise Pals™. The successful pre-seed round is leading us into an even more powerful seed stage. Again, thank you.

Seed Round Now Open to VCs

After closing $250K in the pre-seed, we’re raising another $2–4 million from institutional VCs leading up to our launch at NFTLA. We can do this via a SAFE or a SAFT. We’re also offering unique perks in the form of NFTs.

We expect the seed round to close by the end of March. Please get in touch to discuss deal terms.

New Founding Pals

We’re strategically inviting remarkable people into our group of 100 founding members prior to the official launch. While we don’t announce every new founding member, we want to highlight two names that were recently added to the list.

Tal Navarro: Tal is a powerful community-builder and connector. She hosts rooms on Twitter Spaces and Clubhouse with top influencers in Web3, including many of the other 100 founding Pals!

Mona Halem: Mona is adding value to the Praise founding team through her remarkable network of celebrities and thought-leaders. She frequently hosts parties with NBA players and other A-List celebs in Toronto and LA. (Owning one of the hottest bars in Toronto also helps!)

Mona and Tal add more female power to our diverse group of founding Pals. We’re honored to bring them into the #PraiseFam!

Product

The artwork for the Praise Pals™ NFT collection is coming into focus as we move into the pre-launch phase. We’ve been developing a 10-foot mural that will be displayed at our NFTLA exhibit.

We’re also designing a custom character named PraiseBot. PraiseBot is our automated AI. He’ll be managing our Discord Channel and popping up across the Praise Universe.

PraiseBot early design

Origin Protocol Will Power the Praise Pals™ NFT Drop

We’re pleased to announce that Praise is partnering with Origin Protocol to power the Praise Pals™ NFT drop. Origin has been a strong player in the crypto space since 2017. They are responsible for several of the largest NFT drops to date, including the $11M auction for popular music artist, 3LAU, last Summer.

Launching the collection with Origin adds another layer of clout to our project. We’ll post more updates as this develops.

Thank you so much for being on this journey with us. Feel free to applaud and share this post! With Praise 🙏🏻

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