Praise Token, Inc. November Recap for Investors: DLC.Link Joins the Praise Media Portfolio
Praise is Currency with a Conscience™ — a love-powered inflationary token designed to elevate the world. In this post: DLC.Link, Company Updates, NFTLA Tickets, Giveaways, and more! Thanks for being here. We love you! 💕
Dear Investors, Partners, and Pals,
Happy December! Last month, we signed a partnership deal with DLC.Link, an emerging DeFi startup with a groundbreaking approach to bitcoin lending.
Get our full November recap, learn more about DLC.Link, and find other top projects and opportunities curated by our team below.
Love, Peace, and Praise,
Founder & Creator of Praise
Praise + DLC.Link
Custodians Can’t Be Trusted
Terra Luna, 3 Arrows Capital, Celsius, and Voyager lost over $72 billion this summer. Then, just last month, FTX and Alameda lost an additional $45 billion. When users trust custodians, their assets become fully reliant on whatever risk management practices are in place — and unfortunately, risk management in Web3 is woefully inadequate. There must be a better way!
A Trillion Dollars of Bitcoin is Waiting to be Lent Out
The biggest, most stable market in crypto is still bitcoin. It’s the only truly decentralized digital asset. But bitcoin is not interoperable with smart contracts on Ethereum and elsewhere.
What if you could safely put your bitcoin to work, passively generating income (a “yield”) without involvement from centralized third parties like Ethereum or FTX? The DLC.Link platform can lock a user’s bitcoin in escrow directly in their own wallet. In other words, anyone can supply their bitcoin as collateral and earn a yield while maintaining full ownership.
Today, only 2% of bitcoin is utilized in this way. DLC.Link’s solution unlocks the remaining 98%, making over $1 trillion in bitcoin liquidity available for lending, immediately.
The DLC.Link Team
I can’t say enough about the team. The CEO, Aki Balogh, has been a close friend for a decade. We both attended the University of Michigan. Aki was among the first entrepreneurs to optimize the content marketing industry using AI and machine learning. His previous company, MarketMuse, eventually became the market leader.
The CTO, Jesse Eisenberg, was formerly a senior engineer at Twitter, and the rest of the team is equally as impressive.
The company is in the process of raising a pre-seed round. Accredited investors — please get in touch if you’re interested.
We look forward to our role in bringing DLC.Link to market, telling their story, and refining their brand. Stay tuned for more details.
About Praise Media
Praise Media is a different kind of agency. We aren’t hired guns. We take the opposite approach. Clients must apply and be accepted to join our growing portfolio of startups.
The firm’s boutique services and unique infrastructure includes 10+ years of strategic marketing for startups, a community of 20,000+ early-adopters and Web3 enthusiasts, full execution of high-end BD events, roadshows for 50+ companies in 10+ countries, content/branding for Fortune 100 companies, #1 bestselling book launches for thought-leaders, and more.
Praise Token, Inc. Investor Updates
November was another building month. We attended several local events with partners but did not make the trip to DCentral or Art Basel. Our main goals were to source an ongoing agency client, develop a major partnership for the advancement of our games, and select a listing partner for the launch of $PRAISE, our network token. We accomplished all three goals.
SALES / BD
We are in the process of securing two major LOI agreements. The first partner is a top-ten, centralized crypto exchange. We aren’t ready to make the official announcement yet, but here’s the list of contenders.
Which exchange do you think we’ve chosen? Keep in mind, we maintain an agnostic approach to token distribution. We plan to list the token on multiple centralized and decentralized exchanges. This is just the first of many entry points.
The second LOI is with a gaming infrastructure company. The agreement will state their intent to build the first game for the Praise Pals™ metaverse. More on that below.
MARKETING AND PR
As the NFT market crashed, we saw diminishing returns on advertising campaigns via our affiliate partner, Magic Square. We have since paused those campaigns and shifted focus to generating quality content. The goal is to facilitate higher engagement and bring immediate value to our community (i.e. you).
Community: Despite the dip in consumer interest around Web3 and NFTs, our Twitter followers are holding strong at 23.6K. Discord is hovering around 4.9K.
Email List: We’ve amassed 21,897 subscribers with a 27.98% open rate and a 1.33% clickthrough rate. This is quite good considering industry standards and the number of emails we send. (Usually at least 1 per week).
Contests: Our last Gleam giveaway generated 2,129 impressions, 3,811 actions, and 553 new users. We will continue running contests as a growth strategy for both Praise and its partners.
The new game partnership provides the first clear path to building a functional product with our IP. We’re imagining a card battle game that will tie into the Praise Pals™ metaverse, but the details are not finalized.
Our partner, by the numbers:
- 12 million daily transactions on-chain
- 3 billion games played (all on-chain)
- More daily active users than any other Web3 game
We’re pleased to announce the addition of DLC.Link to our client portfolio. As we onboard new partners and clients like DLC.Link, Origin Protocol, Epik Prime, and others, our holistic approach to marketing will become more evident. All partners and clients will have access to our private events and other social initiatives coming down the pipeline.
Our pending agreement with a top-ten crypto exchange puts us in a strong position. After the collapse of FTX, joining forces with proven operators is critical. We will never rely on a single tech partner. We do, however, want to surround ourselves with the best, most trusted organizations. We’re anxious to announce the official partnership and to continue preparing for our token launch in 2023.
The art team and our smart-contract engineer are on standby until we raise more funds. Our current staff is me, Alicia Corven, and a few partners who work with us regularly.
Our advisors, investors, partners, and other team members contribute whenever they can.
Here are some quotes from partners, investors, and customers…
“Praise is shaping up to become a solid way for artists to connect with their fans while generating revenue-not only for the artists, but for their fans as well via the secondary market.”
— Tim James, Co-Founder of Rock Mafia
“I have just invested and am excited about this project! Keep up the good work and I look forward to an ROI on my investment in you and the positive vibes you generate with this!”
— Scott K., StartEngine Investor
“We’re pumped to launch our exclusive event with Praise backing us.” NFTs unlock deeper experiences with consumers, and we’re on the leading edge of it all. It’s exhilarating!”
— Steve Orasco, Founder of Smash Global
“Your Hollywood Hills Party was fantastic. It felt like the early days of Instagram.”
— David Cash, Founder of Cash Labs
FINANCES / FUNDRAISING
After raising $250K in Q1 and generating $250K in additional revenue from our first NFT drop in Q2, we are seeking additional strategic investors to fill our pre-seed round.
Given market conditions, we’ve reduced our funding goal. We are raising $1,000,000 on a pre-money valuation of $4,000,000. Investments can be executed via traditional SAFE and/or SAFT agreements.
The $1M raise will be allocated generally as follows*
- $25K — Token Listing Fee
- $100K — Token Launch Marketing
- $100K — Senior Programmer (already on standby)
- $100K — Art Team (already on standby)
- $100K — Founder Expenses / Salary
- $175K — Game Buildout
- $400K — Reserves/Misc
*Allocations subject to change at any time
How You Can Help
If you are an accredited investor — or you have relationships with VC firms, please get in touch, make an intro, or schedule a meeting.
Opportunities for You
For four days on March 20th-23rd — get connected, co-create and experience an NFT community with thousands of the world’s Web3 leaders, investors, brands, enthusiasts, and experts. Explore the City of Angels, immerse yourself in LA’s robust nightlife, and journey into its new role as a global conduit for the adoption of Web3 in sports, music, art, and entertainment.
Praise was a major sponsor last year. For 2023, our agency is helping with partnerships. If you want to sponsor, exhibit, or co-create NFTLA with us, set up a call. [$10K budget or higher, please].
Then, grab Earlybird tickets below. We can’t wait to see you there!
Praise Alpha Market™
Alpha Market is our invite-only community-driven NFT marketplace. Trading NFTs from highly ranked collections like BAYC and Doodles is a prerequisite for joining. Members receive a Praise Gold Card, which grants access to pre-sale NFT launches, exclusive art exhibits, and private events in the Hollywood Hills. New verified traders from top collections are applying daily. Join us!
Praiseland Loot Box Giveaway
Join our latest contest for a chance to win a FREE Praise Pals character, a VIP Gold Card, or a Genesis Loot Box for the creation of our social metaverse, Praiseland. Good luck!
Despite the bear market and the implosion of FTX, we remain confident that blockchain, NFTs, and Web3 are here to stay. Thanks for being on the journey with us!
Love, Peace, and Praise. 🤟✌🙏
P.S. For exposure in our newsletter (20,000+ Web3 fans), a featured interview on Twitter Spaces (1,000+ listeners), a collaboration at our next private event (in the Hollywood Hills), or to hire our agency as your strategic marketing advisor, please complete our intake form.
As an organization, Praise is always interested in speaking with investors, brands, event partners, Web3 projects, and NFT artists. Visit us at https://praisetoken.io/ for more information.