Luke Vor retweetledi
Yaypegs is for sale
Today was the final straw for us. The Animaglia account got hacked, and the collection was made completely free, marking the biggest violation we've faced in this space. Despite enduring harassment and threats behind closed doors, we kept it private. But today's attack was the tipping point. Due to this, we're forced to take the following measures: Yaypegs is for sale!
Our Solana account has been drained and mint conditions changed. We ask Metaplex to deactivate the Mint Page, because the account is compromised.
We have thought about all possible scenarios and came to the determination that new leadership has to come to Yaypegs, which is why the project is for sale.
Our intentions could not be clearer:
1 - Yaypegs was free and 0% royalties.
2 - The community voted to activate 5% royalties (NON ENFORCE Royalties). So we only received 69 ETH of the ~450 ETH.
3 - We worked for 1 year, we work with funds that are not enough for 6 months runway, to achieve that, We worked for free. So part of the team continued working the rest of the year for free.
4 - We were transparent in everything throughout the entire process: 65 announcements, 35 weekly updates, 20 twitter spaces and governance with 14,700 votes.
5 - In the last 9 months Yaypegs received less than $300 USD in royalties.
More here: 🧵 1 Year Graphic Summary: x.com/yaypegs/status…
Our mistakes:
- Not using a Hardwallet for our Phanton account, which we did with Yaypegs.
- Rush the Animaglia Mint.
- Try to go to Solana.
- The impact of the work carried out did not reach the market expectations (conclusion that we draw from the floor price and not from the overall sentiment).
Few NFT projects have done things with good intentions. Most NFT projects have been a scam, others have been slow rugs, we believe that less than 1% are actually doing something for the holders and the space.
Making a startup is extremely difficult, it entails challenges of innovation, continuous learning, working 80 hours a week and the risk that 1/10 will succeed. Having a public company is very difficult because the holders have constant expectations and ideas of how things should be done. NFT is the union of these two worlds and brings the best and the worst of each, and both extremes are constantly expressed depending on the floor price and the general sentiment.
For us, Yaypegs became a toxic environment that we no longer want to be a part of.
Animaglia Holders
The 347 mints and the ~47 holders who minted before the Allowlist will be compensated with Yaypegs from the Vault.
Yaypegs Sale
It will be open for sale for the next 30 days, if at the end of this period the sale is not finalized, the Yaypegs collection will become 0% royalties and will be just art.
In the past there have been two proposals to buy Yaypegs which are expired (This has not been discussed before due to an NDA).
What does the sale include?
1 - Transfer of Social Networks.
2 - Transfer of ownership of the Discord Server.
3 - The Yaypegs that remain in the Vault once the compensation has been made to the Animaglia holders.
4 - Transfer of Ownership of the Yaypegs contract.
5 - Website (All Code) and Transfer of the yaypegs.com domain
6 - Master of the collection's Photoshop file.
7 - Assets Folder Images and Metadata Original Yaypegs collection.
8 - Stage 1 and 2, with all assets.
9 - Folder with the Brand assets.
10 - Animaglia: We will deliver all the images, metadata and master art files so you can launch stage 3.
Only what's listed is part of the sale; anything not mentioned is not included. We'll only respond to serious offers, whether made publicly or privately.
Yaypegs is ready for new leadership.
We appreciate all the support, and we hope that under the new owner, Yaypegs achieves the position it deserves.
This is our second-to-last post; the final one will announce the sale.
Thank you,
The Yaypegs Team.
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