FindTruman Seed Round Funding Proposal [Updated]

Following our previous proposal on the PowerDAO forum a few weeks ago (FindTruman Funding Proposal), we have colleted the suggestions from the community and spent the necessary time working on a better proposal.

  1. We ask for a seed round funding of 6000 WAVES from WavesDAO in exchange of 300,000 $FIND tokens. This funding will be distributed in the form of 0.1 WAVES per block, with a duration of more than one month.

  2. With these 6000 WAVES, we will develop our 1st version of platform to show our dev skills and ideas in a more realistic way. Then, we will seek for 2nd and 3rd round of financial support from DAO investors. All these three rounds of investments are regarded as seed round investment as the amount is relatively small. After the seed round, we plan to raise money from VCs. You can find a more detailed fundraising plan and valuation progression in the last part of this proposal. With the increase of the valuation, the value of the tokens distributed to DAO investors at the beginning will also increase.

  3. To give back DAO seed investors in more ways, 5% of the profit from the game tickets will also be shared to DAO investors once the 3D story-gameplay generates ticket revenue (estimated in Q3 2024).

  4. In the future, we will customized some 3D story-gameplays with Waves ecosystem projects, e.g. WavesDuck. This will promote the Waves ecosystem to be more widely known by Web2/Web3 users.

In addition, in the past few weeks, we have developed a 3D story-gameplay demo on Waves. This helps WavesDAO community members better understand the story interaction. Welcome all to experience the 3D story-gameplay demo on Waves: https://waves.findtruman.io/fcc/scenes-v4-waves/game-waves-homicide/
Villa Suspicion
(Fig1. 3D Story-gameplay on Waves)

Token issuance plan

$FIND is the official utility and governance token in our project. It contains all the values created in our platform. $FIND have the following application scenarios:

Our project’s revenue comes from ticket sale in fiat and crypto, paid by Web2/Web3 users. This revenue is the base of the entire economic system in our project and the value anchor of the $FIND token.
In FindTruman platform, each story will form its own liquidity pool (containing $FIND and Story NFTs).

  • For professional creators: Their rewards will be paid in $FIND based on the popularity of their stories.
  • For community participants (usually fans or individuals): They will get incentives in form of $FIND (from the community treasury) once they finish the co-creation tasks.
  • For investors:They can invest by purchasing Story NFTs, and earn more $FIND rewards through staking Story NFT or $FIND.
  • For players: They can get incentives in form of $FIND. $FIND can also enable all players to buy game props, membership services, etc., which will enhance gaming experience.

The $FIND token is expected to be launched in Q3 2024, with a total supply of 20 million tokens. The detailed distribution is as following:

  1. DAO seed round (10%) — Finished at Q1, 2024
    DAO seed round are DAOs who backed our project from the very beginning. Their purchase price will be divided into three stages, namely $0.05, $0.08 and $0.10 per $FIND respectively for each stage. The 1st batch is $15K. When the $FIND token is issued, we will send back to WavesDAO 300,000 $FIND tokens; The 2nd batch is $40K; The 3rd batch is $120K. Seed round investors can get the $FIND since the launch of the $FIND token in Q3 2024 without any restriction.

  2. Private token sale (10%) — Estimated at Q2, 2024
    Private token sale participants will have purchase price ranging from $0.2~$0.25 (probably higher than this range according to the market environment). There will be a 6-month cliff and then a 9-month linear unlock.

  3. Community (70%)
    Community tokens for the FindTruman community will be gradually distributed in the following years.
    • To Earn (15%): 60-month unlock.
    • Staking Rewards (15%): Staking Story NFT and $FIND, 60-month unlock.
    • Ecosystem Treasured Fund (25%): including 10% airdrop to early adaptors.
    • Public sales (15%)

  4. Equity company (5%)
    The FindTruman equity company that initiated the FindTruman project. It will be granted 5% of all the tokens.

  5. Team (5%)
    Those existing and future crews of FindTruman will be allocated with about 5% of all the token. These tokens will be unlocked after a 6-month cliff with a 18-month vesting period.

RoadMap

2024 Q1:

  • Development Status:
    The creators can freely issue their own stories and Story NFT in our UGC editor platform.

  • Estimated user numbers:
    1.More than 50 professional creators will publish their stories in UGC editor platform.
    2.Nearly 1,000 players will join our platform.

  • Potential investors:
    Raise $175K in DAO seed round from DAO investors such as WavesDAO, etc.

  • Project valuation:
    ~$2M.
    The valuation we propose for WavesDAO is 1M, which is a very good price.

2024 Q2:

  • Development Status:
    1.Develop the co-creation functions of UGC Editor.
    2.Create several 3D story-gameplays where the players need to pay the tickets to experience.

  • Estimated user numbers:
    1.Nearly 100 professional creators and 200 community fans will participate in co-creation.
    2.More than 2,000 players will pay the tickets to play 3D story-gameplay.

  • Potential investors:
    Raise $500K in private sale round from VCs.

  • Project valuation:
    $5M.
    The story-gameplay will generate more than $20K in ticket revenue.

2024 Q3:

  • Development Status:
    Develop an AIGC (AI Generated Content) tools, including Text-to-Image, Text-to-Music & Text-to-3D functions to expand the scale of creators.

  • Estimated user numbers:
    1.More than 500 professional creators and 4500 community fans participate in the co-creation.
    2.More than 5000 players will pay the tickets to play the 3D story-gameplay.

  • Potential investors:
    1.Raise $1.5M in public sale round from public sale investors.
    2.$FIND Token launch.

  • Project valuation:
    $10M

2024 Q4:

  • Development Status:
    Build the 3D story-gameplay creation platform. The users and community fans could build the related 3D scenes by dragging and dropping on the page, just like Decentraland, Sandbox, etc.

  • Estimated user numbers:
    More than 20K players pay the tickets in our 3D story-gameplay platform, which includes 100 3D games built by the community.

  • Potential investors:
    Raise $2.5M from VCs.

  • Project valuation:
    $16M

2 Likes

Hello, i tried the demo but the moving controls are totally reversed and make it unplayable, probably because i have an azerty keyboard (EU), maybe something to consider, allowing users to custom controls.

Aside of the login prompt with keeper, what is the demo doing with the blockchain? any dapp or interaction? I still don’t get what the blockchain will be used for in the full game? only for the token? Or there will be some smart contract, if so, doing what exactly?

You ask 6 000 WAVES for the first round, saying there will be 2 other rounds, how much will you request in total? It’s important to know the whole request in my opinion. If you request 6 000 now, we accept but then you ask 100 000 in round two and we don’t accept it, we funded 6 000 for nothing.

Where can we contact the team members? Since they are not on linkedin, how can we learn more about who is behind the project and get in touch so someone is responsible for the agreement and delivering?

About blockchain they replied on first proposal:

[Answer 2] As shown in our roadmap, we are planning to develop a new UGC editor platform and 3D story-gameplay platform on Waves. Our developers have rich experiences in smart contract development. For the UGC platform, we will implement the functions of on-chain story contents, NFT incentives, content co-creation on Waves. For story-gameplay platform, the gaming process will be recorded on Waves. Therefore, all the story creation process and the 3D story-gameplay platform will be on Waves.

(Even if the game is not all on blockchain, if $FIND is a token of WAVES blockchain this will promote and increase network transactions)

I played a bit, the demo is working. I could send messages (signed) in a chat and i could log in with keeper.


Thanks for the answers, i couldnt really test the demo past login because of keyboard config unplayable on azerty.

Ill personally vote for if we know the full final amount they will ask (if reasonable) and if we can really get to know / be in contact with the team so someone is accountable. Too many projects took funds and disappeared and we dont even know where they are, they never update the dao etc.

Dear crashbdx,
Thanks for your questions. We appreciate your interest in our proposal. Our answers are as follows.


For the question 1 “I tried the demo but the moving controls are totally reversed and make it unplayable, probably because i have an azerty keyboard (EU), maybe something to consider, allowing users to custom controls.”

[Answer 1]
Thank you for your feedback. We are currently using the “W”, “A”, “S”, “D” keys on the US keyboard layout (QWERTY keyboard) for control, and we will support other keyboard layouts in the future.


For the question 2 “Aside of the login prompt with keeper, what is the demo doing with the blockchain? any dapp or interaction? I still don’t get what the blockchain will be used for in the full game? only for the token? Or there will be some smart contract, if so, doing what exactly?”

[Answer 2]
Currently, our 3D story-gameplay is in the demo stage. In the future, we will add more on-chain features to the game and develop a new UGC editor platform. On the UGC editor platform, the entire creation process (including the creation process of story text and the game) will be put on the chain, as well as some incentive-based distribution after the players play the 3D game.


For the question 3“You ask 6 000 WAVES for the first round, saying there will be 2 other rounds, how much will you request in total? It’s important to know the whole request in my opinion. If you request 6 000 now, we accept but then you ask 100 000 in round two and we don’t accept it, we funded 6 000 for nothing.”

[Answer 3]
In the seed round,we target to raise $175k USD in total, which will be divided into 3 steps: in step 1 we will raise $15k (~$0.05 per $FIND), in step 2 we will raise $40k (~$0.08 per $FIND), and in step 3 we will raise 120k (~$0.1 per $FIND). Since this is a fundraising, we will reward investors with our own tokens in the future. The target of this 175k USD fundraising are the venture DAOs similar to WavesDAO. After seed round, we have a project valuation of 1.75M USD.


For the question 4 “Where can we contact the team members? Since they are not on linkedin, how can we learn more about who is behind the project and get in touch so someone is responsible for the agreement and delivering?”

[Answer 4]
You can reach out to our team directly via Telegram(@FindTruman), E-mail(findtruman.io@gmail.com), Twitter(@FindTruman).
Telegram of our co-founders: @Lyon_H, @Lyon_Bing

Thank you for the details.
So you are aiming for a total of 175 000$ riased from different investor sources similar to Waves DAO, this mean you request 6 000 Waves from Waves DAO for step 1 and will not request anything else from Waves? DAO for step 2 and 3? Or you could end up requesting all 175 000$ to Waves DAO if you don’t find any other investors?

I see you also build on different chains, the 175 000$ needed is for the Waves version only of in general?

Hi, crashbdx~ Thanks for your question.

The goal of our seed round fundraising is $175k, we plan to raise this seed round in the WavesDAO. However, if WavesDAO doesn’t have that much money for our later 2 steps, we will ask for support from other DAO investors as well. After the seed round, we start to raise fund from VCs.

Our seed round of $175k is for building our entire project.

The reason why we ask for WavesDAO for fundraising is that we found it to be a perfect way to have a solid seed round user and investor who can join our project at the beginning like a crowd funding.

Thanks for the clarifications, in the previous request you were asking 100 000$, what made it become 175 000$ now?

We plan to issue 2 million $FIND tokens in the seed round. In our previous proposal, we intended to give all 2 million tokens to WavesDAO at a price of $0.05 per $FIND ($100k in total). However, we learned that WavesDAO’s funds were insufficient after getting feedback from the WavesDAO community.

Therefore, in this proposal, we prioritize exchange 300k tokens to WavesDAO at the same price of $0.05. In case that WavesDAO do not have enough funds for the rest steps, we will seek funds from other DAOs. For other DAOs, we will raise the price to $0.08 and $0.10 per $FIND, which will ensure the value of the $FINDS that WavesDAO acquired at the beginning will increase.