Hello everyone.

31 Mar 2022, 18:13

Hello everyone! We've been busy working on several key strategic areas to enhance the value of Zora Labs products and wanted to share recent developments: 1) Governance Decentralization has been a goal of this project since its inception for almost 2 years (May 2020). Our initial governance product (https://gov.zoracles.com) has undergone a major upgrade with new contracts being published. Including airdrop testing: You can access the new governance product here: The development team has noted that voting is currently the only functionality ready for mainnet. The founders want a more robust governance mechanism including contract upgradeability, NFT ecosystem modifications and other on-chain governance contracts that directly impact our products to remove Zora Labs centralization. The scope and development of more robust governance mechanisms has extended our delivery date into Q2 but we plan to move all governance contracts from Kovan before the end of the coming quarter. 2) Xana Feedback from interested VCs to seed and provide liquidity for Xana marketplace has been encouraging. We have been given the mandate of providing "traction" to initiate funding. Our team has been working on this with a few opportunities including creating our own generative NFT 3D collection as well as exploring the "Play to Earn" arena (think wolf.game). Here are some screen grabs from the Xbot collection (see below): Xana airdrop product is being tested and finalized. You can review here: (subdomain coming soon..) We anticipate once we close VC funds to launch the Xana token with a healthy amount of liquidity, we can begin the airdrop. Details will be provided in a medium article. Also, internal discussions are also underway for founders to fund with stablecoins from initial fundraise as a backup plan. 3) Funding Project is fully funded by founders with stablecoins raised in initial fundraising & vesting tokens. These mechanisms are more than enough to finance Zora Labs project throughout 2022 and well into 2023. With traction in our NFT ecosystem, we expect to see higher Zora & Xana prices and more resources to provide greater marketing and more development horsepower. At the moment, we are running a lean team of developers and founders are focused on fundraising, product traction and managing our marketing partners. Once Xana has some traction, we expect our interested VCs to fund token liquidity and provide working capital for expansion. During this alt coin bear market, we have the means and fortitude to survive and position Zora Labs NFT ecosystem to thrive in the near future. Hopefully this update provides confidence in the vitality of our team and our commitment to developing a NFT ecosystem that is actually utilized by users. As we have more meaningful developments, we will share. Onward & upward! Zora Labs