UPDATED: IMPORTANT LETTER TO $HUP HOLDERS AND PARTNERS
Saturday September 11, 2021
UPDATE - OCT 8 2021: In the interest and spirit of needing sufficient time needed to review opportunities to advance the company and community interests, the project will extend beyond October 15, 2021. Please stay tuned for future news. We will update the community as developments materialize.
Hello $HUP Token Holders,
I want to announce various changes to the HUP.LIFE project, as well as to update you concerning the future of the project.
I am proud of what we have built, the milestones reached, and our vibrant and dedicated community of token-holders. I am especially proud, however, to announce that our charity wallet has generated over 20 Trillion $HUP, which we intend to donate to a capybara-related cause shortly.
When the project was launched on June 15 this year, we developed an ambitious plan to create a comprehensive, consolidated socially conscious NFT marketplace for artists and collectors to fully monetize their artwork.
The entire project has been personally funded from my self-employment at my law practice in Toronto, Canada. I firmly believe that blockchain technology and all of its associated benefits can and do empower individuals.
With the context above, there are some important changes and announcements to consider for $HUP.
Change from Marketplace to Authentication Platform
Today we would like to announce that we are changing our business model from an NFT marketplace to an NFT authentication platform, with a revised anticipated beta launch date of Q1 2022. Our revised business plan will not consist of an NFT marketplace but rather provide a value-added service to existing NFT marketplaces and artists.
Our service allows artists to not only validate the originality of their works, but also continuously monitor the web for copycats and then send DMCA notices to entities publishing infringing copies.
This pivot will help by:
• Lowering capital requirements significantly;
• Enabling NFT Marketplaces (and their artists) to become our customers — not our competition; and
• Being agnostic/can theoretically be integrated into any NFT marketplaces or blockchain
Artists would be charged $5 per artwork per year — in $HUP Token, of course — and we also intend to plant a tree for every work. Because we’re still socially conscious at heart. And we still intend to donate $HUP’s accumulated charity wallet funds to one or more animal or capybara-related causes.
At the same time, however, unfortunately this will also mean we are not pursuing our initial plan for a socially-conscious token launchpad.
We still believe we can work hand in hand with and provide immense value to our strategic partners ETHO Protocol, Flux, and TribeOne.
Funding Deadline — October 10 drop dead date
HUP.LIFE International Limited, the project’s parent company, is exploring mission-critical fundraising options for its seed capital raise. The development, marketing, and labour of the authentication platform will be capital-intensive, despite moving away from the more cost-intensive marketplace model.
In order to protect the project’s viability and in the interest of full, true, and plain disclosure, we are establishing a ‘drop-dead’ date of October 10 2021. Should the company receive pledges or commitments for 75% or more of the fundraising dollars it requires (estimated at this time to be approximately $1M USD), the HUP.LIFE project will continue on towards its mission.
However, should we fail to secure minimum commitments required by October 10, 2021, we will be de-listing the token from exchanges and renouncing ownership of the smart contract, and ceasing operations on or before October 15, 2021. This will be communicated to the community by October 11, 2021.
While we cannot technologically stop the token smart contract from being traded on PancakeSwap and other decentralized exchanges, please be aware that the market price of $HUP Tokens will likely lose significant value should the project be terminated.
As of now, the project will continue and we will provide regular updates. We are proceeding with our planned animal/capybara livestream on October 2nd and will be working with a reputable blockchain marketing agency starting September 15 that will provide weekly status reports. More details on this initiative will follow.
Founder & CEO of HUP.LIFE International Limited