It’s been an eventful few weeks for Lazy Lions. We had an amazing run in August with some major announcements and exciting releases. And while not everything went exactly as planned (we’re looking at you Lazy Scenes!), we’re very proud of the work we’ve done and the efforts of our team. We’re also extremely appreciative of the support from the community, especially those who participated in the Lazy Scenes mint.
We have taken some time to review the current situation, assess where things went wrong, and determine our next steps.
In true lion spirit, we might face challenges, but we always return stronger, ready to claim our kingdom.
While the campaign climaxed in a not-so-positive way, we don’t want to diminish the great month we had in the lead up. The entire team worked tirelessly to build what is arguably the best campaign we’ve ever launched; a campaign that directly delivers on our vision and that the community was extremely supportive of.
Over the past few months we have delivered more in a shorter period than we have before:
- Launch of ROARwards 3.0
- Release of Lazy Lions Lore
- Mark Kacy joins as our Social Media Advisor
- Release of Lazy Lore AI Character Builder
- Brian A. Miller joins as an Advisor
We not only delivered a tool that allows the community to co-create, but extends beyond Lazy Lions to welcome other NFT projects to our ecosystem.
There is no sugar-coating it. The Lazy Scenes did not meet our minimum expectations. We decided it was best for the mint to be cut short and all minters to be provided a refund (which has been actioned). As previously stated, our priority was those who supported the mint. Therefore we’ve decided in addition to a refund, we have offered those who minted an additional 3 free claims of Lazy Scenes per mint.
Many questions have been raised around the mint and why we went ahead in this market. The reality is that in order to sustain the project to be able to deliver on our ambitious plans, we need to generate more revenue.
Every project needs resources to grow, evolve, and bring value to its community. Some have been fortunate enough to have raised money through investors, others had substantial warchests from the original run. While things aren’t quite dire for us, like the majority of collections, we have been impacted heavily by the lack of royalties.
Please know that while certain specifics about our financials remain internal for the company’s security, our commitment and passion are unwavering. We’re working diligently to ensure the best possible future for our community.
More importantly, the main factor that played into our decision to drop Lazy Scenes was that they play an integral role in the Lazy Lions Lore and storytelling. To build robust and interesting stories, you need more than just characters. Stories are brought to life through the scenery and settings. And with plans to expand our Lazy AI Tool to write text stories, we were very excited to deliver this initiative to the community and allow you to further co-create and build your IP.
The market is ugly. It has been for a while. And we’re not the only ones affected. There are other projects who have been hit hard, and other mints that have not gone well.
Attempting to release a mint (regardless of its long-term potential) was a bad idea, no matter how strong and exciting our lead up was.
We understand that when things aren’t going well, people naturally have a tendency to look back and knit-pick the past, searching for answers to the current situation. There have been questions regarding the utility of past drops and their statuses.
We want to be clear that we have always addressed the purpose and status of each drop as transparently as possible. Utility is a controversial topic in this space, but we believe we have provided as much utility as possible, more so than many other projects.
In order to move forward without baggage, we want to close the loop on the past.
Lazy Bungalows: These are social media banners which allow holders to integrate other NFTs and record to the blockchain. The dapp is still available on the website. We have also provided additional benefits (which weren’t promised) to holders via ROARwards, puzzles, and whitelists. [COMPLETE]
Lazy Cubs: This was a secondary PFP collection. Drinks were provided to Lazy Lions holders as a free airdrop. We have also provided additional benefits (which weren’t promised) to holders via ROARwards, the Glitch’s Army game, as well as whitelists. [COMPLETE]
Lazy Comics: These were a free claim for eligible holders. They form a core part of the Lazy Lions Lore and are a collectible item. [COMPLETE]
Glitch’s Generals: This is a highly exclusive Ordinals collection (only 80 in existence). They are also a core component of our project’s lore. We have also provided additional benefits (which weren’t promised) to holders via a generous amount of ROAR Points. [COMPLETE]
Dark Energy: The purpose of Dark Energy was its use in the Glitch’s Army game and opportunity it provided to win an Ordinal. We mentioned that there may be a future use-case for Dark Energy — we had intended on tying it into a future drop related to Glitch, however given the state of the market and recent events, those plans have been shelved. Additional utility was also provided through Lazy scenes claims as a replacement, as well as receiving ROAR Points. [COMPLETE]
ROARwards: ROARwards has been an extremely successful initiative from the start. It has been central to our marketing strategy and has delivered direct value to the community as a rewards program for brand advocacy. As the market/royalties decreased, we pivoted the ROARwards platform to a points system to ensure we provide as much value as possible. ROARwards 3.0 was released in July this year and has been a hit. We look forward to continuing to give our ROAR Points.
We are transitioning from a form-based selection to a curated approach managed by our team. Additionally, GIFs and animations will no longer be available in specific tiers. [COMPLETE]
ROAR Points: The plan is to eventually convert ROAR Points to the ROAR Token. The details regarding conversion and when ROAR Token will be released are on hold due to the current market conditions. ROAR Points will continue being used to reward community members for engagement. [COMPLETE]
ROAR Token: Plans for ROAR Token were initiated previously, however the decision was made to put the project on hold due to the current conditions. We want to make sure to release our token at the most opportune time for the project and the community. [ON HOLD]
Lazy Series: This was part of our previous strategy to enter the apparel space. While the drop was successful in selling out, it did not appeal to a wider audience which was its intended purpose. Therefore, the decision was made to conclude Lazy Series. As a token of our appreciation to those who supported the drop, participants were awarded ROAR Points. All items have been shipped and delivered. The final outstanding item is the NFTs themselves. These will be finalized over the coming months, after which they will be distributed to participants. [FINALIZING]
Lazy Lions Lore: This is a platform that is foundational to our vision. It allows the community to co-create stories and build the lore for Lazy Lions Private Island. The tool can be accessed via our website and will continue to be maintained for the foreseeable future. No additional updates are currently planned. [COMPLETE]
Lazy AI: Version 1 of the tool (which allows you to generate a character bio for your NFT) is available to use on our website. It is open to Lazy Lions and Lazy Cubs holders, as well as other selected NFT projects. The second iteration will allow users to generate written stories which include their NFTs along with Lazy Scenes. There is no current timing set for the delivery of this update. [IN PROGRESS]
Lazy Episode Generator Concept: This was always intended as a concept prototype, allowing the community to visualize the potential future use-case of Lazy Lions Lore, Lazy Scenes, and the evolution of the Lazy AI tool. [COMPLETE — CONCEPT ONLY]
Sandbox: Our dedicated space within the Sandbox virtual world has been built. We excitedly await the launch date for Sandbox, but until then this item is on hold. [ON HOLD]
Lionesses: The idea was put to a community vote, which resulted in its cancellation. In addition to this, the current market conditions do not support launching new collections and therefore this item is considered canceled. [CANCELED]
Game: The gaming concept was also put to a community vote. The outcome was a decision to remove it from our immediate roadmap. [CANCELED]
Lazy Lions Collectible Cards: These were part of a referral program aimed at introducing newcomers to NFTs and providing them with their first minting experience (an experience we all remember fondly!). The program was a fun initiative that had a successful run. It was wrapped up after becoming unsustainable. [COMPLETE]
Puma: We had an extremely successful pop-up activation at their flagship NYC store during NFT.NYC 2022. [CONCLUDED]
Sacramento Kings: They generously invited a group of Lazy Lions holders to attend one of their games. [CONCLUDED]
Born Free Foundation: Louga and Angela were successfully transferred to the Big Cat Sanctuary in South Africa. [CONCLUDED]
Our vision for the future remains unchanged. We will aim to be a major player in the entertainment space. We will co-create stories. We will evolve storytelling.
However, with dwindling funds and a market that’s uninterested in new drops, we need to be realistic and deliberate with our next steps. As anyone who’s run a business understands, in difficult times, difficult decisions need to be made in order to secure the future of the company.
We believe the good times will return. This period is just a test that we know we will get through. Our goal right now is to continue building; to co-create the Lazy Lions Lore with all of you.
We are well poised for the next opportunity, with a strong repository of initiatives ready to go as soon as it makes sense. However, until then, we will operate in a streamlined capacity and will not be undertaking significant releases like those from the past month.
We will continue to reward engaged community members and we’re excited to see the stories you all create. We hope you all enjoy your Lazy Scenes.
Thank you all for your continued support and see you in Discord!