JPunks Project Update

Jurassic Punks NFT
4 min readJun 14, 2023

Now the Raptors have been revealed we wanted to follow up on our previous announcements regarding the project and its future.

Before we start we just want to say a huge thank you to the community, it has been great seeing everyone share their raptors and discuss their favourite traits and combos. We put a lot of work into getting the raptors right for the community and the response has been great to see!

As we discussed in the multiple announcements before the Raptors claim, in order for the project to continue further we would need funding/ investment. We understand that this caused some distress to the community but we thought it important to be as open and as transparent as possible, especially before the Raptor claim so the community were fully aware of the situation

The founders have spent multiple months trying to secure funding to allow the project to continue however so far this has not been successful and with the current market conditions and overall sentiment in nfts and crypto, companies and HNW individuals are very reluctant to invest, now more than ever.

Where does this leave the Project?

The founders will continue this search and have a full diary of meetings in June with potential investors and will keep pushing hard. In order to keep the project running at this stage JPunks will need to streamline and this sadly means that we will have to say goodbye to all our paid staff while we make our final push for investment in June.

In order to do this we will be streamlining the Discord so it will be manageable and all channels will be muted except holders lounge. This will happen on Friday and is essential to keep the discord open and safe.

It’s a trying time for the project and founders as over the past 15 months and a year prior to mint we have nurtured a large team of professional artists, devs and creatives and created fully paid jobs and careers for everyone in the team. It has been a very difficult decision but as we can no longer pay the team we are going to have to let them go. We want to thank everyone who has worked with us on the project as we couldn’t have come this far without them and we want to say a special thanks to @benr and @i3#3875 who have decided to stay on at the project during this difficult time?

What does this mean moving forward?

At the moment we are in the same position of needing to secure investment/ funding in order to move forward with the project. If we can’t secure this investment we will ultimately need to close the project down, something we are doing everything in our powers to avoid.

This means unfortunately that all aspects of the project will be on hold for the moment, including the next version of the app and all FBX exports, unfortunately we just cannot continue without funding and won’t be able to pick up with production until we secure funding/ Investment.

After our extensive Beta-Rex and Snapchat experiments we discovered that although people liked the idea of animating their own fbxs only a small pool of people actually had the time and skills to do so. This is why we went the app route, with the plan to integrate fbxs into the app. However this was a larger job and required a larger budget which at the moment is not there to finish the required work. Also from our figures of who downloaded the beta, the numbers again are very small with only a handful of the community actually wanting to use it, along with the numbers of people who request their fbxs and actually download it with the second round of FBXs having less than a 50% download rate from request.

We understand that this is not the news the community would have wanted to hear but unfortunately at this stage without funding there is no other option. The plan at the moment is to limit outgoings and keep pushing for investments.

The founders and team have been working tirelessly to find a solution and unfortunately no one has the ability to work unpaid. The core team did do that for nearly 12 months prior to launch to get the project going but they simply cannot continue to do so now, so investment is the only option to move forwards.

We will continue to keep you informed as we progress this month and hopefully we will have better news in the coming weeks.

To end we just want to thank the community for their continued support and we are working as hard as we can to find a solution and keep the project thriving during this tough period in the market.

--

--