There are a few creators and holders of our Potion collectibles from last year that are upset that a few clients we had for creator campaigns died last year, and weren't able to pay out the rewards.
This was a frustrating situation for everyone involved. As a team, we did our best to:
A) Warn of the risks before entering our campaigns
B) Vet our clients and have them contract-bound
But at the end of the day, if they couldn't pay up, they couldn't pay - and we, as a tiny team, don't have the legal capacity to pursue them.
We've been communicating that if and when we launched our own token,
$CHIP, we'd be making these creators whole again - in further attempts to do what we can to do right by them.
This has led to constant pressure on us about the token. Meanwhile there was around ~$100k actually paid to creators, with bonuses to Potion holders, and we've had TONS of the top collabs, and have an upcoming free claim of a bluechip project on MegaETH coming up for holders.
So I'm just here to set a public record:
- We will not be pushed into launching a token that is doomed to fail, or illegal to operate
- We do not "owe" anyone anything, we're just trying to do right by our community
- We will ONLY launch a token if we truly believe it's valuable to the world, and helps bring our product/IP to new heights
We've tried twice to get this thing to launch, and both times been shut down by the market at large. So we're back in a breathing space with it, and we're fine with that.
We've obviously shifted focus from creators to building out our Chip IP, and creative tech (livestreaming) associated with it.
With that said, we STILL found a route forward to continue bringing value to Potion holders by collaborating with
@ElixirGuild for them to absorb the creator program (ie. many more campaigns), and still have them honor Potion holders with bonuses to them.
Chip is still getting 100s of thousands of views on tiktok/youtube/instagram every week, and we've built some really really cool technology to push the boundaries of content VOLUME with proprietary character IP.
That's all, that's the update.