I think by now most if not all agree on Dom’s and Dfinity’s vision of Utopia and how it’ll benefit ICP adoption and usage.
As a fellow ICP investor I want to raise the voice on UTOPIA SNS, since UTOPIA is a tech being built on top of ICP shouldn’t the ICP community be able to invest in it from the start. Before they go to some VCs and raise at much higher valuation.
It’ll be a big plus for the SNS ecosystem legitimacy and validity.
Interested ICP investors get a chance to tap the upside of UTOPIA, a tech built using ICP stack.
Some challenge I foresee would be KYC, but would this be a great opportunity to test out decideAI for crowdfunding. And if that’s a hassle, how about a usual KYC at our partners Coinlist.
Why should only VCs and other investors capture all the benefits of the for profit entity UTOPIA, built using ICP tech. ICP community should be the first investor in UTOPIA.
Sure, great idea!
But before I invest my hard earned money in a private company, I need to make a serious due diligence. We need to go step by step. Selling me a vision is not enough for me.
I remind you that this new project is not crypto. It is a private for profit company.
1- Have a detailled business plan with expected income and expenses for the first 3-5 years
2- Detailled information of the management structure, all Directors name and info, managers, etc
3- All official company documents up to date. Whith jurisdiction of registration.
4- Marketing plan for he next 5 years
5- Detailled of financing, including sources, so far and expected.
6- More details about the technology, his maintenance, and expenses related to that.
That would be a decent start. Can you get that first?
No serious investor would get in a private company without these kinds of informations first.
With all the fuss surrounding Utopia, I can’t decide which is greater among some token holders: their level of delusion or their sense of entitlement.
Maybe I’m missing something, but it seems the only valid question is whether DFINITY funds will be used to bootstrap Utopia. The $1.6 billion endowment fund sounds a bit insane, so some clarification would be appreciated.
As for Utopia SNS, you might as well add Cancer Cure DAO to it. It’s nonsense to try to force UtopiaCloudLabs into any kind of profit-sharing with ICP holders. Sure, it sounds nice, but so does curing cancer. Every blockchain has for-profit companies behind them, starting with Ethereum, which has several.
For example, Ethereum co-founder Joe Lubin founded ConsenSys, a for-profit company that developed MetaMask. Despite being an early Ethereum investor, I didn’t get any ownership of ConsenSys. It’s time to let go of delusions regarding UtopiaCloudLabs.
I hope I don’t come off as combative but… Can you explain what the developer experience of building on a private Utopia network will be like? What skills will be transferable, what challenges will arise, etc…
The IC has made a lot of progress in a lot of areas - however when it comes too developer experience its still 1000 steps behind…
Yep! Even with all the DCAs, been a Bagholder for 3 years now and still going on. I was a very early ICP believer as you can see. Just open a new account to change my name to reflect my status but following this forum since the very beginning.
The good news… I have learned, leading my response to your post. Got cut on a vision once, but not twice.
If utopia goes the route mentioned, what’s the benefit for the Icp holders? Nothing? You would think this utopia was going to boost Icp value for many reasons, but I guess it’s not going to have any kind of benefit for the Icp
All valid points Ajki, my point is just that since they’re going to be raising funds anyways. If not from us then traditional VCs. Why not raise it first from the community first?
Had it been completely bootstrapped or an individual project it would be a seperate thing.
They have built a mechanism for raising funds, the SNS. Why not use it and show the world it’s potential n utility.
Imagine the hype n news it’ll create for SNS n ICP if we end up raising say 10-20M for UTOPIA on SNS. A lot of projects would come to ICP for raising fund
