Hi ApeCoin DAO Community,
Our team has reviewed and discussed @Christian’s AIP Draft and have sent a list of follow-up questions. We await answers.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
Vulkan
Thank you for your kind words, Brick. I appreciate it! I would be interested in hearing more about your thoughts on our branding and how you could assist our team. Feel free to send me a DM anytime.
I agree, beverages can be a powerful tool for raising awareness, as anyone can crack one open and enjoy it. This is precisely why we see a tremendous opportunity for Boring to seamlessly integrate into the lives of those who are not yet familiar with Web3. Our top priority is to increase awareness of the DAO and encourage the adoption of $APE!
We are big fans of MetaBrewSociety and you’re absolutely right about Happy Dad becoming somewhat of a collector’s item. I personally bought one just to display it. It’s really cool to see how passionate the G-Fuel community is about limited editions. For example, my two younger brothers, 18 and 14, are obsessed with collecting the latest G-Fuel drops. One of them even paid $40 for an empty tub haha!
We want to achieve the same level of collectibility and passion with Boring, but add another layer with the use of digital collectibles.
Looking forward to chatting with you Brick!
-Christian
1 Like
Hi ApeCoin DAO Community,
@Christian has responded to our questions and has provided consent to share them in this forum for the community.
Questions (click to expand)
Q: The Rationale: Community Owned section of your proposal lists three options. Are you able to confirm which would be used, as each has different legal/regulatory ramifications that need to be considered.
Absolutely, it makes sense for Boring to create a community wallet while the legality of DOAs becomes clearer. We believe this is currently the best way to ensure the safety of both the DAO and Boring.
Q: What kind of wallet integrations will you offer?
We’ll be using Tokengate for token-gated products, as they recently released a Shopify-integrated app. When it comes to $APE payments, we’ll be using CoinbaseCommerce.
A DAR package is being worked on and upon completion this AIP will move into Administrative Review. Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
Just curious, how is this possible?
Overall, I am struggling with some parts of this. 10% of profits (not revenues) is a tiny amount in return for making the entire business possible. Who will hold the keys to the community wallet? How proposed rn, it sounds like a mini-DAO, but we already have this DAO.
This is further too ApeCoin-focused. Nobody outside of us cares. I don’t think Cool Cats or Gutter Cats communities care about ApeCoin. So overemphasis can backfire.
What are the ingredients?
The amount requested is very small to start a beverage company. How much profit will be made if it sells out? Will that be enough to keep this going? At what price per can?
IN GENERAL
I don’t believe a DAO should be funding businesses; it should fund products. A free (downloadable) benefit to all - perfect. Plumbing/tools - definitely. Events - possibly. Games - okay, but only because they’re participatory and really can be thought of as events where we get together just themed around a particular game. But businesses? That presents a whole lot of issues/questions. DAO can’t own them. Benefits to community are hard to measure and cannot be enforced. And marketing (on a can or anywhere else) is not a reason enough - if we want marketing, we should just buy airtime/ads.
Limitless businesses are possible. if their differentiation is using “boring” in name/branding or putting ApeCoin logo on product, I don’t see how this is a viable differentiation strategy. Further, the primary benefactors are the founders instead of the community. I could be wrong, ofc, maybe the DAO thinks funding businesses and acting as a VC firm (without owning equity) is exactly what we should be doing. But that really does seem to be a function of a venture fund, not of a DAO. A venture firm is far better equipped to do due diligence, too, enforcement, etc. And here you’re essentially asking for a seed round.
Of course, a vc firm will not accept 10% of profits, and probably not even 10% of equity, which goes back I guess to my other point above. And so, then, if you’d be willing to give a vc firm more than 10% and in equity, then how come here it’s only 10% of profits for community wallet?
I can see how this proposal helps you start a business - and as an entrepreneur myself, I so-so get it - but I fail to see how this serves the community at large and I do not think a DAO should become a VC firm. I’m saying that as someone who had been a venture partner in the past and has an idea of the processes and expertise that must be in place in order to evaluate funding requests and founders. DAO may fund tools and processes through which many businesses can exist within ApeCoin ecosystem, but it shouldn’t be funding the businesses themselves.
Apologies for being so direct, if it comes off any wrong, not intentional. All initiative is amazing and so 100% props on your work and effort. I just don’t believe this falls under the purpose/missions of this DAO. Instead of just voting no (which I will be, though my vote isn’t even a blip on the radar :d), I wanted to respectfully provide my explanation as you may find it helpful.
Hope you stick around and look forward to future proposals from you guys!
2 Likes
Heyo Sasha,
Well balanced and reasoned argument for voting no on this AIP. Just a couple of items that stood out to me:
Ahem, I believe our Founding Principles are:
Emphasis on Events. Yes, my own bag bias here 
for sure. And yes, I take these Founding Principles as gospel. So please consider Events as crucial 
.
__
Anyway, onto a second point that you mentioned:
I was gonna share a few thoughts on this, but realize I don’t wanna clog up Boring’s thread here. So, if interested please follow the thread here instead.
Thanks again for your thoughts here Sasha.
Onward
SSP 
2 Likes
Interested. Thread where?
1 Like
It’s coming. Admins need to approve the post. I’ll update this comment with the link as soon as they do.
In the meantime, AIP-226 (heh, heh )
3 Likes
ha yes, I meant “possibly” as in “depends on how AIP is written.” A $100K ask for an event in North Dakota is a certain no vote from me. Although I hear the annual DakotaNorthFT conference slaps.
1 Like
Just curious, how is this possible?
Beverage manufacturing, like any other type of manufacturing, depends greatly on volume. The larger the production size, the more economies of scale come into play. Although upfront costs may be higher when producing more products, in the long run, you save both money and time when producing at a higher volume. Our team has a strong relationship with our manufacturing partners and we have concluded that this size run makes the most sense for our brand.
Overall, I am struggling with some parts of this. 10% of profits (not revenues) is a tiny amount in return for making the entire business possible. Who will hold the keys to the community wallet? How proposed rn, it sounds like a mini-DAO, but we already have this DAO.
Certainly, allocating 10% of gross revenue would significantly harm the brand, especially in its early startup phase. As you know, the DAO cannot receive revenue or equity at this time and instead provides grants instead of investment capital. The rationale behind allocating 10% of profits into a community wallet is our way of giving back to the DAO while still adhering to legal guidelines. As for the keys to the wallet, we are hoping trusted members of the community will be able to hold them as a multi-sig wallet. Perhaps the SC or stewards. With regards to voting, it is not so much a mini DAO, but rather a community poll, if you hold $APE, you are able to vote. We will be using Snapshot where you will have to confirm that you own at least one $APE.
This is further too ApeCoin-focused. Nobody outside of us cares. I don’t think Cool Cats or Gutter Cats communities care about ApeCoin. So overemphasis can backfire.
Our primary objective for Boring is to raise awareness of the ApeCoin DAO in a way that is accessible to everyone, and beverages are a great way. As a result, we have intentionally emphasized ApeCoin in our messaging. One of our key priorities is to promote $APE and encourage its adoption.
It is true that other communities may not have an interest in $APE currently, but we have some great ideas to encourage its use outside of Ape holders. For example, we plan to release limited edition labels and collaborate with other established communities, similar to G-Fuel working with a particular game. We’ll use Cool Cats as an example. We collaborate with Cool Cats, where we will drop a highly limited edition can of Boring featuring the artwork of Cool Cats, possibly even designed by Colin Egan (CC artist). The interesting part is that this limited edition will only be available by using ApeCoin. Now, Cool Cats holders who want to buy this limited edition case (and digital collectible) of Boring X Cool Cats will need to acquire $APE before the drop.
Another great example, which is close to you, would be working with the Bizarros community. For instance, players could complete an in-game quest to unlock access to the Limited Edition Boring X Bizarros drop. Once they have unlocked access, they can purchase the LE pack and get a discount by using $APE. Boring could also be served in the tavern with our ApeCoin concept label as the digital can label. It’s fun things like this that we have planned to expand outside of the Ape Community, but will always lead back to ApeCoin.
More important is to reach out to those who are not familiar with Web3, as this is the key to achieving widespread adoption. While we do not claim to have all the answers, we are committed to exploring all possibilities. Some of our ideas include creating compelling marketing videos for TikTok, showcasing our product at IRL gaming events, and promoting our product within the beverage industry, perhaps through Bev Net.
What are the ingredients?
At this time, we are unable to provide a list of ingredients as the formulation process has not yet begun. However, we do have a general concept in mind. Our goal is to create a modern energy drink, similar to brands like Celsius, ZOA, Alani Nu, or even Prime Energy. Low to no sugar, include natural sources of caffeine, and ensure that the taste is great.
The amount requested is very small to start a beverage company. How much profit will be made if it sells out? Will that be enough to keep this going? At what price per can?
We are confident that the amount requested is more than sufficient to make Boring a sustainable business in a short amount of time. Our COO Chris Herman has successfully worked with beverage startups that began with less than $100,000 and turned them into national brands that are now highly successful. Therefore, we are extremely comfortable with the proposed ask. Also this budgeting is precise and exact as Chris has done this dozens of times.
At this time, we cannot confirm the price per can as the formulation has not yet been completed. Once this is done, we will have a better understanding of the cost of ingredients. We have had discussions with our formulator regarding the direction we wish to take, and he has reassured us that the cost per can should not exceed 50 cents, and in fact, will most likely be lower.
I don’t believe a DAO should be funding businesses; it should fund products. A free (downloadable) benefit to all - perfect. Plumbing/tools - definitely. Events - possibly. Games - okay, but only because they’re participatory and really can be thought of as events where we get together just themed around a particular game. But businesses? That presents a whole lot of issues/questions. DAO can’t own them. Benefits to community are hard to measure and cannot be enforced. And marketing (on a can or anywhere else) is not a reason enough - if we want marketing, we should just buy airtime/ads.
This is a fascinating topic, and I believe that there are multiple perspectives to consider. While some argue that the DAO should only fund AIPs that generate a return for the treasury, others maintain that it should not be expected to receive any financial gain. Our goal is to find a middle ground that balances the interests of both sides. We are committed to giving back to the DAO’s members, but we are not making any grandiose promises of millions in returns. We have several ideas, and our first proposal is the community wallet. Allow me to explain its potential uses briefly. Suppose $20,000 USD is deposited into the community wallet at the end of the year. In that case, $APE holders will vote on how to allocate the funds. Although we cannot donate the money directly to the DAO at this time, we can offer it as a “credit” that $APE holders can use to claim a free 12-pack from our online store. This is just one way we intend to give back to the community, and it aligns with your statement above that “A free benefit to all” is desirable.
Regarding the grant proposal for “products,” I believe that developing a great product is a step toward building a successful business. In our case, we are building a brand and selling products while planning to bring Boring to as many events as possible, regardless of size. For example, ApeFest, ApeCoin IRL, or even small-scale pop-up meetups provide excellent sponsorship opportunities. Imagine all event participants holding Boring X ApeCoin cans. That’s fantastic marketing, no matter the event.
Limitless businesses are possible. if their differentiation is using “boring” in name/branding or putting ApeCoin logo on product, I don’t see how this is a viable differentiation strategy. Further, the primary benefactors are the founders instead of the community. I could be wrong, ofc, maybe the DAO thinks funding businesses and acting as a VC firm (without owning equity) is exactly what we should be doing. But that really does seem to be a function of a venture fund, not of a DAO. A venture firm is far better equipped to do due diligence, too, enforcement, etc. And here you’re essentially asking for a seed round.
We have some exciting ideas regarding branding, and we think that the name Boring Energy will resonate well with Web2 natives. Our goal is to build a culture around the brand, similar to the way Liquid Death has done, but with a more laid-back vibe rather than heavy metal. We also love the idea of our energy drinks being in a 12 oz standard can. If you look at the market, energy drink brands typically use either 16 oz or 12 oz sleek cans. A 12 oz standard can (think beer can) will not only stand out because no other energy drink is using one, but it will also tie into our “Boring” marketing. How boring is it to be in a standard can? Haha, it’s actually pretty boring, but that’s the point.
As previously mentioned, opinions on whether the DAO should act as a VC differ. Regardless, it is important to note that the DAO is not currently functioning as a VC, regardless of personal preferences. Nonetheless, we remain committed to providing value to members. As detailed in our proposal, should the DAO ever be able to acquire equity, we pledge to transfer it to say the DAOs LLC. Rest assured that we are fully committed to this promise - failing to follow through would damage our relationship with our core community and most loyal customers. It is worth noting that we are indeed requesting a seed round grant, which I think is clear in our AIP.
Of course, a vc firm will not accept 10% of profits, and probably not even 10% of equity, which goes back I guess to my other point above. And so, then, if you’d be willing to give a vc firm more than 10% and in equity, then how come here it’s only 10% of profits for community wallet?
The community wallet is not essential, but we are using it to show our appreciation to the community. Allocating say 40% of profits to the community wallet would impair Boring’s growth and, in my opinion, hinder one of its primary objectives: to raise awareness of $APE.
I can see how this proposal helps you start a business - and as an entrepreneur myself, I so-so get it - but I fail to see how this serves the community at large and I do not think a DAO should become a VC firm. I’m saying that as someone who had been a venture partner in the past and has an idea of the processes and expertise that must be in place in order to evaluate funding requests and founders. DAO may fund tools and processes through which many businesses can exist within ApeCoin ecosystem, but it shouldn’t be funding the businesses themselves.
This AIP does start a business, but it is one that aims to benefit the DAO. Beverages can be powerful marketing tools, as evidenced by brands like Liquid Death and Red Bull, which have strong followings due to their unique cultures. We believe that Boring can achieve a similar level of brand loyalty. This product has the potential to bring significant awareness to $APE, particularly among Web2 natives who may not be familiar with ApeCoin. Once we capture customers’ attention with our product and branding, they will likely want to learn more about the brand, leading them to the Community that built it, ApeCoin. Additionally, they will want to save money on future purchases, which means learning more about $APE and using it at checkout.
Our goal is to increase awareness of the DAO beyond the crypto community. Currently, many outside the space are unaware of or uninterested in ApeCoin. By building the brand to fit seamlessly into the world of Web2, we hope to onboard more users and bring greater awareness to $APE.
Apologies for being so direct, if it comes off any wrong, not intentional. All initiative is amazing and so 100% props on your work and effort. I just don’t believe this falls under the purpose/missions of this DAO. Instead of just voting no (which I will be, though my vote isn’t even a blip on the radar :d), I wanted to respectfully provide my explanation as you may find it helpful. Hope you stick around and look forward to future proposals from you guys!
Sasha, there’s no need to apologize. I appreciate your feedback and am excited to receive more of it. Our main goal is to raise awareness for ApeCoin and the community with a product anyone can enjoy, so for me, it does fall into the DAOs mission but regardless I value your opinion. Boring is here to stay, and we have a strong passion for the brand and its mission. We hope you’ll join us in being a part of the Boring brand, which is designed to be as community-focused as possible. After all, we are a Web3 beverage brand!
Cheers,
Christian
PS: Sorry for the novel! If you ever need me to help in writing I’m here! Just kidding, I’m a terrible writer haha 
1 Like
The one thing every AIP must do, IMO. Without that, there’s no reason for this or most/any AIPs to be here asking for funding. Addressing this angle is in the AIP template itself.
2 Likes
I wholeheartedly agree with you, br00no. I hope it is clear it’s one of the core missions of Boring. That’s also why we believe that beverages are a great tool for achieving this goal. Anyone can crack open a can and taste the $APE. 
1 Like
Yes, I’m well-familiar with economies of scale and why per-can price will decrease with bigger batch, but what I was asking is why the indicated total cost for the bigger batch is lower than the total cost for a trial run.
Let’s please not employ these manipulation tactics in responses, I’m an old hawk and see right through them.
That’s what I meant - is it caffeine-based only (Monster), is there bull’s pee / Taurine in it (Red Bull, 5-hour), is it a healthy kick bev like vitamin B-focused, etc. Formulation matters, but you must have target market and niche in mind. Curious about your reasons for going that specific route vs others, based on what research / experience, etc.
This is the biggest red flag for me. Why not go to vcs then? With this kind of background (and successes you outlined), raising venture capital should be trivial. Then you could come to the DAO to add ApeCoin-themed can or product once you have a going business. If you’re confident in the business and the target market, and have this level of expertise/past success, it’s hard for me to see why you wouldn’t go VC route and gain solid advisors in the process with industry connections + other benefits that would far increase your chances of success (and those factors far more important than seed funding/money)
Is this even legal? I’m not a lawyer but my understanding is this is off the table entirely and so nobody can be arguing it, or am I wrong / not up-to-date?
So you understand that this is not what DAO is for, yet you submit the AIP regardless. Help me make sense of this.
Ok now I’m entirely confused. We went from “we really want to give back” to “giving back isn’t essential.”
Why would it impair your growth? Net profit is after capex and all other expenses. So any reinvestment into Boring’s business is pre-net profit calculation. If you’re an expanding startup, you don’t have any net profit for years - how is this impending your growth?
Overall Thoughts
Respectfully, sales’y language like “bring awareness” is a red flag to me. It’s very foggy, like paying artists with exposure. ApeCoin is one of the most popular coins in crypto; it’s awareness is so high, it makes nearly every other coin jealous. We don’t have an awareness problem. IMHO, the DAO exists to build useful things and experiences. Those things will bring awareness on their own by being useful, entertaining, engaging, etc. This is a many-year horizon.
Right now, this AIP is akin to someone proposing a container shipping company with ApeCoin logo slapped on the ships. Is it cool? Sure. Makes sense for the DAO? Not at all. Same here. Idea of a Boring Energy drink? Cool, love it. I’d buy some if I like the taste. Does slapping ApeCoin logo on it make it a DAO item? Not at all (imho).
Then, if you want a seed round, we’re just getting started:
What revenues do you need per month to stay sustainable? How are you going to approach marketing? Where will sales come from? Is Ape/NFT community large enough to sustain? How will you penetrate other niches, exactly? Which specific connections do you have in retail world to enable distribution? It seems all of the initial fund goes to making initial cans - then what? How much profit will you make if you sell all, where will you reinvest to ensure this isn’t a one-time thing?
Where are due diligence docs such as 3-year projections, and in general link to your folder of sheets and other documents that are required for anyone asking for a seed round? Where can I read about the founders in the media, see proof of your past experience? A dozen successful beverage company launches sounds great! So there must be referrals, evidence documented of such feat in publications or just in letters of reference, LinkedIn / other history of positions held, etc.
This is what I mean by funding a business and acting as VC - we now need to do due diligence. In its current form, this AIP shows little as far as DD, though detailed cost breakdown is a good start. We don’t even see LinkedIn or, ideally, other / more verifiable sources background on founders, which is the most basic starting point of any seed round conversation.
Again, not to trying to be negative, just explaining how much deeper the process of seed rounds is. I worked at an accelerator, did DD for dozens of startups. In the current form, this AIP is a more comprehensive version of idea on a napkin and is in no way suitable to pass DD for a seed round.
If you want a seed round, do look up what due diligence is for a seed round stage startup and circle back with proper documents. It will make a far better case for your business idea and the process will also provide you with more clarity re: needed funding amount that’s sustainable. And you can use same stack of docs to go to a VC later if AIP fails/DAO decides it isn’t meant for this. Which I personally currently disagree this is a DAO item; it’s ill-equipped to make seed rounds until at least a specialized working group is established to filter through these proposals.
3 Likes
Hey Sasha sorry for the delay traveled the past two days.
Yes, I’m well-familiar with economies of scale and why per-can price will decrease with bigger batch, but what I was asking is why the indicated total cost for the bigger batch is lower than the total cost for a trial run.
-
Apologies for any confusion. To clarify, I did not mean to suggest that a higher volume production would necessarily cost less than a smaller one. Rather, I was trying to convey that producing at a higher volume, which includes getting formulation done for 3-4 SKUs, can lead to significant time and cost savings in the long run, as you are aware.
We have based our initial production run to be sized based on what we think will sell and at the best production discount.
Let’s please not employ these manipulation tactics in responses, I’m an old hawk and see right through them.
- Sasha, my intention was not to manipulate you but rather to provide a fun example of how we want to collaborate with artists within the space and with Web3 games of any size. Our ambassador program is designed to excite community members about working with Boring. We believe in supporting and collaborating with other community members in the Web3 space. We are already in discussions with a few members, and I wanted to provide you with an example that you could relate to.
That’s what I meant - is it caffeine-based only (Monster), is there bull’s pee / Taurine in it (Red Bull, 5-hour), is it a healthy kick bev like vitamin B-focused, etc. Formulation matters, but you must have target market and niche in mind. Curious about your reasons for going that specific route vs others, based on what research / experience, etc.
-
Recent trends show an increasing interest in health-conscious products. In keeping with our aim to be a premium brand, we are focusing on including natural sources of energy and vitamins. We would like to gather feedback from the community before finalizing our formulation. As a premium brand, we believe Apes would value quality ingredients that align with our brand. We believe our customers would prefer natural sources of sweetness rather than cheaper options.
It’s worth noting that the majority of energy drinks are consumed by men between the ages of 18 and 34, which aligns with the current demographic of NFTs. This is a potentially useful correlation for the brand.
This is the biggest red flag for me. Why not go to vcs then? With this kind of background (and successes you outlined), raising venture capital should be trivial. Then you could come to the DAO to add ApeCoin-themed can or product once you have a going business…
- This is a unique opportunity to build something special, something that has never been done before. A beverage brand funded by VC money is not anything new or special. However, a Web3 beverage brand built by a DAO and the Ape Community is bound to make headlines and gain attention from outside Web3. We spoke with a friend who works for one of the largest F&B media companies, and after sharing our vision, he was excited and saw it as something that could make headlines in the CPG world. This alone would put attention on $APE and the DAO from a very large following. Of course, we could build the brand and aim it toward the Ape community, but that wouldn’t showcase the power of Web3 and the DAO. We want to build a brand not only for the Ape community but alongside it. We’re building the Web3 G-Fuel, and we know we can get there with the support of the greatest community and by building on top of it. And the simplest answer in the words of the DAO is, “We don’t shy away from the weird, the hard, or the new”. This is new, this is weird, and we know it has the opportunity to benefit the DAO.
Is this even legal? I’m not a lawyer but my understanding is this is off the table entirely and so nobody can be arguing it, or am I wrong / not up-to-date?
- Currently, the DAO is unable to produce a return. Nonetheless, a few members are of the opinion that the DAO should prioritize seeking a way for it to obtain equity and profits, which seems to be in progress. This is why we have chosen to use the community wallet approach for the time being while we wait for further developments.
So you understand that this is not what DAO is for, yet you submit the AIP regardless. Help me make sense of this.
- While it is true that we are seeking a grant from the DAO to jumpstart the brand, we do not wish to give the impression that we are attempting to deceive the community by requesting an exorbitant amount. The fact is that this space is young, DAOs are a new concept, and creating a CPG with community involvement is also a new development. Our goals are to have a good time, to be innovative, to prioritize the community, and to give back whenever possible. Many of the grants provided by the DAO have helped jumpstart a variety of projects, including magazines, collectibles, and more. What’s important is that these projects bring value to the DAO and give back to the community, both of which are things Boring will do.
Ok now I’m entirely confused. We went from “we really want to give back” to “giving back isn’t essential.”
- Once again, Sasha, I apologize for any confusion. This is correct, the community wallet, and ownership in the brand are necessarily mandatory. However, it is a value we hold and want to integrate into the Boring brand.
Why would it impair your growth? Net profit is after capex and all other expenses. So any reinvestment into Boring’s business is pre-net profit calculation. If you’re an expanding startup, you don’t have any net profit for years - how is this impending your growth?
- Again, the 10% is not necessary, currently, we are confident and excited about implementing the community wallet. I also believe it will be the first time an AIP proposal aimed to do something like this.
Respectfully, sales’y language like “bring awareness” is a red flag to me. It’s very foggy, like paying artists with exposure…
- ApeCoin has gained popularity, and its awareness is high, within its space. Our objective is to raise awareness outside of the space. Enjoying a beverage is a significant experience that is part of everyone’s daily routine, from sipping coffee to happy hour and tailgating. Our aim is to leverage beverages to bring attention to ApeCoin. I share your perspective, and we are building something that is useful, entertaining, and engaging, especially for a whole new audience.
Right now, this AIP is akin to someone proposing a container shipping company with ApeCoin logo slapped on the ships. Is it cool? Sure. Makes sense for the DAO? Not at all. Same here. Idea of a Boring Energy drink? Cool, love it. I’d buy some if I like the taste. Does slapping ApeCoin logo on it make it a DAO item? Not at all (imho).
- Freight shipping companies are commodities, while beverages represent a lifestyle brand. If our beverage succeeds, it will help promote the DAO and ApeCoin to those who are not familiar with Web3. Also just a quick note, beverages are in every household globally, but shipping containers are not. When a Boring can is sitting in someone’s fridge or pantry so too will ApeCoin.
Then, if you want a seed round, we’re just getting started:What revenues do you need per month to stay sustainable? How are you going to approach marketing? Where will sales come from?..
-
Currently, our team only consists of the founders, so sustainability is not a pressing issue at the moment. However, we’re actively seeking collaborations with the Ape Community that would be mutually beneficial as we move forward. We’re targeting two markets: Web3/NFT collectors and gaming on both Web2 and Web3 platforms.
-
Our marketing strategy will include collaborating with Twitter influencers, sponsoring events, creating interactive TikTok content, establishing a Boring ambassador program, collaborating with other communities, and frequently releasing limited edition drops. Another major advantage of becoming an extension of the Ape community is gaining early support from the most influential community in the space.
-
Regarding retail, it is not our main focus at this early stage. However, we do have a great advantage when we are ready. As mentioned before, the beverage industry, like most industries, is more about who you know rather than what you know. Fortunately, Chris has many contacts who have assisted beverage startups in obtaining national retail distribution. Again, this is not our main focus currently but will be when it makes sense for the brand.
Where are due diligence docs such as 3-year projections, and in general link to your folder of sheets and other documents that are required for anyone asking for a seed round?..
- Beverage companies often require Non-Disclosure Agreements to safeguard their formulations and maintain control over their brand image. This approach is more commonly seen among web2 brands, where trade secrets are highly valued and not widely shared. Both founders have represented themselves on LinkedIn and Twitter. While Chris Herman did not extensively use social media in his previous job, his work history is available. We’re also hoping to speak with a SC member and potentially implement our NDA which would allow us to be more transparent. This way, the community can have approval from a trusted member to attest to our past partnerships.
This is what I mean by funding a business and acting as VC - we now need to do due diligence.
- Absolutely, and I completely agree. We’re currently finalizing our new AIP format before entering the live AIP phase with more DD information. One thing we’re passionate about is transparency, and we want to ensure that community members have it. In addition, we aim to provide value to the community through education.
Again, not to trying to be negative, just explaining how much deeper the process of seed rounds is. I worked at an accelerator, did DD for dozens of startups. In the current form, this AIP is a more comprehensive version of idea on a napkin and is in no way suitable to pass DD for a seed round.
- Chris and I are always available for a call, and we’ve already scheduled several with community members. We’d be happy to add you to the list and provide any information we can to assist in your own due diligence process.
Cheers and have a great rest of your holiday weekend!
-Christian
1 Like
I didn’t ask about formulations. I asked about documents needed when applying for seed capital. NDAs are never signed for those. I worked in venture as well as applied for capital as a business so I’ve been through the process on both ends.
Could you link? Maybe I missed them, but I don’t see any LinkedIn links.
Thanks, Christian, but all info needs to be here and in writing.
I don’t want to spam this page any more. As an application for a seed round, this lacks a lot of meat and that’s my final feedback. I’m not looking for eloquent words; I’m looking for documents - projections (1 year minimum), research (at minimum market size of specific niche, comparison to other niche energy drink products/their stats, and so forth), detailed backgrounds (which dozen drinks have you launched, when, scaled from what amount to what), strategies (not just ‘we’ll use TikTok’ but how many ads can you buy with how much money over what period and targeting what audiences and have this $$ reflected in your ask, for example. Same for IG or Twitter - Twitter is expensive but if you can target nft audience it may be worth, do the research.). As a business, you can’t rely on ape community for marketing unless you’re paying them; if it happens, it’s a bonus/icing on the cake.
This level of scrutiny would be substantially less if you wanted to make, say, 250 cases for ApeFest. One-time event, no expectations of profit, etc. But for starting a business, it’s a whole different conversation. So don’t hate me, I’m just putting my VC hat on.
tl;dr
As it stands, asking for $$ to make X cans isn’t a seed round or a business plan, it’s a one-time product purchase. Which is valid, could pass if people want some cans, I’m just clarifying it for what it is (imho).
I’m just one opinion, though, so this may not matter at all for others. Best of luck!
PS: You mentioned your formulator said the cost should be “50 cents per or lower.” Right now your production costs (~$73k) are only enough to cover 9600 cases at $0.32 per can. So if cans may cost more, consider adjusting total ask, or reduce promised # of cases, or add a note that says you’re targeting 32 cents/can so total # of cans may be more or less if cost is less/more.
6 Likes
Hi ApeCoin DAO Community,
@Christian has updated their Draft and it is in our review once again. You can check out the changes by clicking the pencil icon at the top right of the post.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
Hi ApeCoin DAO Community,
We have no further questions for @Christian. This AIP is now under Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
Hi ApeCoin DAO Community,
@Christian has requested to move their AIP back to the Draft phase to be able to make additional updates before it goes to Administrative Review.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
1 Like
Hi ApeCoin DAO Community,
@Christian has updated their Draft and it is in our review once again. You can check out the changes by clicking the pencil icon at the top right of the post.
Follow this Topic as further updates will be posted here in the comments.
Kind Regards,
-Vulkan
1 Like
Wow just amazing totally loved the idea
2 Likes
Thanks @toga, appreciate that. We’re really excited about the brand, especially building it with the community.
1 Like