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Guzter
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September 13, 2021, 02:09:07 PM
Last edit: November 26, 2021, 09:07:26 AM by Guzter
 #1

I'm the founder of a new decentralized casino project called Wunzo.
My partner and I started this project 4 months ago. We divided our responsibilities, with him handling the smart contracts development and me handling the rest. So far, we've accomplished a lot: we've launched the website, white paper, and explanation video, and I've started working on growing our social media followers ever since the project's whitepaper was published (6-weeks ago).

We initiated a 20-day seed sale phase 13 days ago to pay the costs of getting extra resources to lay the finest groundwork for the project.
13 days have passed and we still haven't landed any VC; most of them are either asking if we've made any sales or if we can adjust the platform DAO model to provide equities.
The platform's fundamental premise revolves around a profit-sharing model, with DAO stocks attainable only by staking the platform token in the governance smart contract, and their percentages derived by comparing each participant's staked amount to the total staked.
This type of approach is profitable for retail investors but not for venture capitalists (especially because the stocks are not fixed).

We both resigned from our previous jobs to focus on this project, and after this failure seed phase, i am torn between shutting down the whole project and starting moving forward or keep on going and releasing the pre-sale phase once the beta version of the platform is completed.
I would be really happy to hear a second guess.
Thanks for your reading!
P.S. After a lot of networking, we were able to secure an angel investor and a hedge fund.
We didn't get any venture capital at first since we didn't have any deep connections with any of them, while those who we cold-emailed responded weeks later (after we closed the seed phase).

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September 20, 2021, 03:37:38 PM
 #2

If you are worried about ethical or legal concerns in running a presale in your current situation, just be very upfront with people the same way you are with us. Price yourself at a point where the people who take early risks can see 100x (or higher) returns "easily" given your understanding of the market and your business. People are willing to put money into a 2 man team with a dream, but you might have to lower your expectations of how much they are willing to put in.
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October 20, 2021, 11:12:17 PM
 #3

I think you should work on marketing promotion, many tokens/coins first spread the story of the project, and I think that would be achieved by airdrop, because people like free money and maybe bounty here on bitcointalk because the same is good for investors (how many scam projects here make a bounty they don't even show a team, so they make a sale). If it's your project with a good story it should work.
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October 22, 2021, 06:52:56 AM
 #4

Don't give up just because VCs won't invest. You are too early for VC money.

You need to find angel investors or business partners that might provide some funding.
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October 31, 2021, 11:13:45 PM
 #5

If you are worried about ethical or legal concerns in running a presale in your current situation, just be very upfront with people the same way you are with us. Price yourself at a point where the people who take early risks can see 100x (or higher) returns "easily" given your understanding of the market and your business. People are willing to put money into a 2 man team with a dream, but you might have to lower your expectations of how much they are willing to put in.
What op need at this ground and time is advice and encouragement to exercise patience to work because thinking that immediately the work of yours is carried out and expose to the nation it will be easy to adopt, i think is wrong ideals, as you said here your expectations don't have to come too fast and desperate because is a newly developed project
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November 24, 2021, 05:14:07 PM
 #6


You need to find angel investors or business partners that might provide some funding.

I would also add that you can invest a certain amount in the project yourself, so that potential investors can see that the developers also gave their money and thus put themselves on an equal footing with those who will invest from the outside. When creators reinforce their confidence in a project with investments, this is perceived as additional justification for investors that the project will develop.
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November 25, 2021, 12:27:15 PM
 #7

NO ONE buys into white papers and websites

you are not a blockchain company because you have no blockchain. just some crappy hyped up promotional things with no assets or substance

you cannot charge people for a token that is not even in existence.
thats not the purpose of blockchain

blockchains are made first and then become valuable once people can see their purpose. also having the tokens available means people have something they can own..

you are asking for money but not giving them anything they can own. they dont have a private key they dont get to see a token on a ledger that only they can sign for. so no one will give you money

no legally binding shares. no signature authorised asset/token. no physical certificate. nothing
scamming is illegal. stop being a greedy lazy ICO scammer

it does not cost thousands to make a blockchain. if you have not created a blockchain in the last 4 months then you have no intention to do so. i cannot believe you spent 4 months promoting a white paper but not even bothering to make the blockchain. .. actually i can believe it as its standard practice for scammers

i have not coded in years and even i can make a basic blockchain in hours. and then within 4 months have expanded it with new updates for more functions. you have no excuses to be a lazy money grabbing scammer

have a nice year though.. pennyless and jobless

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November 25, 2021, 04:11:53 PM
 #8

I'm the founder of a new blockchain-based project called Wunzo.
My partner and I started this project 4 months ago. We divided our responsibilities, with him handling the development and me handling the rest. So far, we've accomplished a lot: we've launched the website, white paper, and explanation video, and I've started working on growing our social media followers ever since the project's whitepaper was published (6-weeks ago).

13 days ago i launched our 20-days seed sale phase because we need financing to access additional resources to lay the best ground work for the project; 13 days have passed and we still haven't raised any funds; most of the VCs i contacted were asking if i had made any sales yet, and whenever i respond with "No", they turn down the entire deal.
Tbh, i can't blame them because if it was me, I would probably do the same thing since the chances of me investing in a team made of 2 persons are slim.

We both resigned from our previous jobs to focus on this project, and after this failure seed phase, i am torn between shutting down the whole project and start moving forward or keep on going and releasing the pre-sale phase once the beta version of the platform is completed.

I would be really happy to hear a second opinion.
Thanks for your reading!


First mistake you resigned too early and second you are not the only person I listen somewhere failure is not fatal.
You sound newbie in crypto or business field in this way all project fails even bitcoin will so nothing new is there in your case.
With time you get experience and soon you will learn with time how it works.
my suggestion to you right now is you are only going to fail when you stop doing what to you want to do.
Guzter
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November 25, 2021, 10:19:55 PM
 #9

NO ONE buys into white papers and websites

you are not a blockchain company because you have no blockchain. just some crappy hyped up promotional things with no assets or substance

you cannot charge people for a token that is not even in existence.
thats not the purpose of blockchain

blockchains are made first and then become valuable once people can see their purpose. also having the tokens available means people have something they can own..

you are asking for money but not giving them anything they can own. they dont have a private key they dont get to see a token on a ledger that only they can sign for. so no one will give you money

no legally binding shares. no signature authorised asset/token. no physical certificate. nothing
scamming is illegal. stop being a greedy lazy ICO scammer

it does not cost thousands to make a blockchain. if you have not created a blockchain in the last 4 months then you have no intention to do so. i cannot believe you spent 4 months promoting a white paper but not even bothering to make the blockchain. .. actually i can believe it as its standard practice for scammers

i have not coded in years and even i can make a basic blockchain in hours. and then within 4 months have expanded it with new updates for more functions. you have no excuses to be a lazy money grabbing scammer

have a nice year though.. pennyless and jobless



I'll just skip the part where I say you have no manners and just address your mistakes.
Instead of being so impolite, you may simply ask, "How far have you progressed with the development?"
Either way, we have completed the development of the platform smart contracts and are currently about to start working on the UX.

And, for the record, from those four months to now, we have prototyped, completed the proof of concept, established the core concept, defined the management structure, formed the LLC, drafted a white paper, developed the website, created an explainer video, redid the whitepaper, designed a pitch deck, redesigned the website, drafted the terms and conditions, privacy and policy, the SAFT, and developed the beta version smart contracts.
So, yes, it takes more than 4 months, especially for a team of 2 people.

I get that you are condemning me since there is a lot of scamming going on, but the ends cannot justify the means.
This week, we will launch the new website, TOC, PP, and whitepaper. In terms of the beta version, we don't know when we will deploy it on the BSC testnet (we haven't even begun working on the UX); we simply know that it will happen this year. If you want to keep up with our development, you may follow us on Twitter at https://twitter.com/WunzoGames.

Note: If we were just con artists, we could have started the presale phase right away instead of waiting until the beta version is out.
Guzter
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November 25, 2021, 10:35:49 PM
 #10

I'm the founder of a new blockchain-based project called Wunzo.
My partner and I started this project 4 months ago. We divided our responsibilities, with him handling the development and me handling the rest. So far, we've accomplished a lot: we've launched the website, white paper, and explanation video, and I've started working on growing our social media followers ever since the project's whitepaper was published (6-weeks ago).

13 days ago i launched our 20-days seed sale phase because we need financing to access additional resources to lay the best ground work for the project; 13 days have passed and we still haven't raised any funds; most of the VCs i contacted were asking if i had made any sales yet, and whenever i respond with "No", they turn down the entire deal.
Tbh, i can't blame them because if it was me, I would probably do the same thing since the chances of me investing in a team made of 2 persons are slim.

We both resigned from our previous jobs to focus on this project, and after this failure seed phase, i am torn between shutting down the whole project and start moving forward or keep on going and releasing the pre-sale phase once the beta version of the platform is completed.

I would be really happy to hear a second opinion.
Thanks for your reading!


First mistake you resigned too early and second you are not the only person I listen somewhere failure is not fatal.
You sound newbie in crypto or business field in this way all project fails even bitcoin will so nothing new is there in your case.
With time you get experience and soon you will learn with time how it works.
my suggestion to you right now is you are only going to fail when you stop doing what to you want to do.

To be honest, I considered just shutting it down, but I couldn't abandon the solution for someone else. And, yes, I failed.... but I learned from my mistakes. I agree that failure is only the beginning of success if you repair yourself quickly.
I'm grateful for your kind words.
Guzter
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November 25, 2021, 10:40:40 PM
 #11

If you are worried about ethical or legal concerns in running a presale in your current situation, just be very upfront with people the same way you are with us. Price yourself at a point where the people who take early risks can see 100x (or higher) returns "easily" given your understanding of the market and your business. People are willing to put money into a 2 man team with a dream, but you might have to lower your expectations of how much they are willing to put in.
Concerning the legal aspect, we have found ourselves in a difficult scenario in which we need to register the corporation, which we did not want to do because it is built on the DAO and is fully decentralized. However, after much deliberation with legal organizations, we decided to register the company as an LLC company with a forming a trust for the management entity with the stakeholders being the beneficiary.
Guzter
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November 25, 2021, 10:46:12 PM
 #12

Don't give up just because VCs won't invest. You are too early for VC money.

You need to find angel investors or business partners that might provide some funding.
I wish I'd known you back then!
Yes, we were too early for VCs, and not only too early; we don't fit with most VCs, particularly because we are gamified and decentralized, with no signed equities.
The DAO stocks are variable stocks in which holders stake the platform utility token in the governance smart contract, with their stock percentages defined by how much they staked in comparison to the total staked.
We didn't want to look for partners since, once again, we are entirely decentralized, and most partners require liquidity, which we cannot give because the DAO is a profit-sharing model.
Guzter
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November 25, 2021, 10:56:46 PM
 #13

If you are worried about ethical or legal concerns in running a presale in your current situation, just be very upfront with people the same way you are with us. Price yourself at a point where the people who take early risks can see 100x (or higher) returns "easily" given your understanding of the market and your business. People are willing to put money into a 2 man team with a dream, but you might have to lower your expectations of how much they are willing to put in.
What op need at this ground and time is advice and encouragement to exercise patience to work because thinking that immediately the work of yours is carried out and expose to the nation it will be easy to adopt, i think is wrong ideals, as you said here your expectations don't have to come too fast and desperate because is a newly developed project
Yeah, I had really high expectations, especially since we required money to move considerably faster. But when we chose to utilize our own money on the project (our investment money) and make a moderate development, it was far superior to asking anyone to financially support us.
For the time being, we only want to finish the beta version, which is our final milestone for this quarter, and then we'll start upgrading it next year on a regular basis till we reach the general version. If the presale does not go as anticipated, it will only slow us down by preventing us from launching a good marketing campaign and holding a large IEO event, but it will not halt our growth.

It's a good experience for what it's worth.
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November 28, 2021, 03:40:17 AM
Last edit: November 28, 2021, 03:51:21 AM by franky1
 #14

sorry but your still asking for money before even releasing a blockchain..
heck even you admit you have not opened a testnet and have no timeline for the blockchain

its like a fashion model wanting a catwalk job, she has no photo portfolio, and never makes face to face appearances. offering nothing to actually show she has the assets worthy of others taking her on

meaning your project its not ready. not even functional
just like all other ICO scammers with websites and ToC's and whitepapers

idiots (polite term for such people) that want to gather money for a project but refuse to release the asset for people to buy. are just trying to gather funds without offering any asset ownership in return
even in fiat land, its a big no no

if you even knew about blockchains and contracts you would know people want something concrete and 'bearable' to own that has some meaning.

the purpose of blockchains is to make something that takes 48 hours to create to give something people can own a signature authorisation of.

you refusing to do this and offering no timeless shows you have nothing of substance to offer

so. if you were genuine you would release a blockchain first and then sell the assets of the blockchain to fund expansion

not even having a blockchain to offer. even a basic 'premine' v1 before adding on features as you grow . is a sign of scammery

again for the last time. all you are offering is a white paper and a bunch of ToC's to appear professional but offering nothing.. you are doing nothing different than ICO scammers

if you are offended by my tone/manner of my message then it seems you are ignorant of the content and more emotional about me calling you out.

so learn from the message dont just cry because there is a message you dont like
if you cant make a basic V1 blockchain in 48 hours for basic asset dispensing to share holders.. then you have FAILED.
if you have not then shown a testnet of the possible v2 with the added features that show the proof of concept. you have double failed

no website or whitepaper can replace this basic proof
Guzter
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November 28, 2021, 07:34:24 AM
 #15


I'll just skip the part where I say you have no manners and just address your mistakes.
Instead of being so impolite, you may simply ask, "How far have you progressed with the development?"
Either way, we have completed the development of the platform smart contracts and are currently about to start working on the UX.

And, for the record, from those four months to now, we have prototyped, completed the proof of concept, established the core concept, defined the management structure, formed the LLC, drafted a white paper, developed the website, created an explainer video, redid the whitepaper, designed a pitch deck, redesigned the website, drafted the terms and conditions, privacy and policy, the SAFT, and developed the beta version smart contracts.
So, yes, it takes more than 4 months, especially for a team of 2 people.

I get that you are condemning me since there is a lot of scamming going on, but the ends cannot justify the means.
This week, we will launch the new website, TOC, PP, and whitepaper. In terms of the beta version, we don't know when we will deploy it on the BSC testnet (we haven't even begun working on the UX); we simply know that it will happen this year. If you want to keep up with our development, you may follow us on Twitter at https://twitter.com/WunzoGames.

Note: If we were just con artists, we could have started the presale phase right away instead of waiting until the beta version is out.

sorry but your still asking for money before even releasing a blockchain..
heck even you admit you have not opened a testnet and have no timeline for the blockchain

its like a fashion model wanting a catwalk job, she has no photo portfolio, and never makes face to face appearances. offering nothing to actually show she has the assets worthy of others taking her on

meaning your project its not ready. not even functional
just like all other ICO scammers with websites and ToC's and whitepapers

idiots (polite term for such people) that want to gather money for a project but refuse to release the asset for people to buy. are just trying to gather funds without offering any asset ownership in return
even in fiat land, its a big no no

if you even knew about blockchains and contracts you would know people want something concrete and 'bearable' to own that has some meaning.

the purpose of blockchains is to make something that takes 48 hours to create to give something people can own a signature authorisation of.

you refusing to do this and offering no timeless shows you have nothing of substance to offer

so. if you were genuine you would release a blockchain first and then sell the assets of the blockchain to fund expansion

not even having a blockchain to offer. even a basic 'premine' v1 before adding on features as you grow . is a sign of scammery

again for the last time. all you are offering is a white paper and a bunch of ToC's to appear professional but offering nothing.. you are doing nothing different than ICO scammers

if you are offended by my tone/manner of my message then it seems you are ignorant of the content and more emotional about me calling you out.

so learn from the message dont just cry because there is a message you dont like
if you cant make a basic V1 blockchain in 48 hours for basic asset dispensing to share holders.. then you have FAILED.
if you have not then shown a testnet of the possible v2 with the added features that show the proof of concept. you have double failed

no website or whitepaper can replace this basic proof
Releasing a blockchain? The platform is a dApp (UX and smart contracts) built on the Binance smart chain! Who told you we're working on a blockchain?

Yes, we still haven't deployed the beta version on the BSC testnet, which is why we haven't released the PRESALE!

I love how you compared us to a faceless fashion model when you know that we have the sexiest legs.

I'm not sure what part of "we're releasing the PRESALE once the beta version of the platform is published" that you didn't get! (it's our clever way of scamming people).

The IDIOTS ("US", "The team") you're referring to, can only offer an utility token for future access; they can't offer any kind of ownership assets because the platform is based on a DAO with no ownership rights (a DAO LLC company).

I'm not sure what you meant when you said blockchain and 48 hours! And I'm still insisting that not every dApp (smart contract) needs a blockchain as its base (it is much faster to use other distributed ledgers).

We are not working on a blockchain! We are developing a decentralized app on the BSC, and we intend to release it first before selling the assets to support the expansion.

I'm not sobbing because of your response; I just said you have no manners (which I still believe), and you're offering nothing but a misperception to learn from.

The platform isn't about creating a blockchain, and I doubt anyone can create a blockchain protocol in 48 hours.

Bottom line:
We have already developed the testnet version (core team) for the proof of concept, and we are currently working on the testnet version (for the community), which will be deployed on the BSC testnet for the community to test and examine.
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