CHUBBIVERSE MONTHLY UPDATES
July 2022 Edition
TLDR,
1. ChubbiDAO
Closing down
Team inheriting existing proposals
Community suggestions channel remaining open
2. Focus on cash flow positive business
Cutting costs
Increasing efficiency
Increasing runway
4. NFT NYC’s Cute Collective party was a success
5. We’ve gone viral on GIPHY with 700 million views
6. Soon…
We’re launching an aggregated marketplace
We’re releasing a new feature for you and your NFTs/characters to grow our Chubbiverse lore
More partnerships on the way
7. The ask…
We’re looking for a major partnership with a toy manufacturer and/or distributor, help us connect with them
Let’s talk about…
😎 Why we’re closing ChubbiDAO
When we first launched ChubbiDAO, our initial vision was to give the community more ownership and control over the brand so we could all grow the Chubbiverse brand together. Despite the team and community giving it a red hot go, it’s now clear that the DAO structure didn’t work.
But there have been parts which have worked well, mainly the capacity for holders to share their amazing ideas.
To keep this going, some of the #ChubbiDAO channels on our Discord server will remain open, renamed to #Chubbi-Proposals. As a community, we invite all of you to keep sharing proposals — it’s important for the community to have a voice. Together we can reach a consensus about ideas we believe in and the team will execute and ship it.
We also have plans to inherit some of the uncompleted proposals such as the children’s book and integration to the World Wide Web.
The funds will go back to the core company which will be used to pay the companies tax liabilities and increase the Chubbiverse runway.
😿This wasn’t an easy decision for us, but for us to survive, we believe it's important to operate like a business.
Beside memes, we’re also great at being agile. We’re adapting to the current conditions of the market, which means:
Being lean and cost effective
Utilising the treasury to maximise our runway
Making plans to diversify our revenue streams
We’re also making plans to aim to be cash flow positive
This involves restructuring team contracts, roles, responsibilities and pay.
Financial year for Australian companies ends in June so we are handling that now
📈 Did you see how much people love us on GIPHY?
We’re on our way to hitting a BILLION VIEWS.
Whether you’re on Twitter, TikTok, Instagram, type: Chubbiverse and you will find over 250 GIFs or stickers to use.
Kudos!
Much love. Thanks Chubbiverse team. You got this!