If you have been here before off the top of your head you are likely thinking I wonder how Rich is going to sustain this initiative, it must be costing him a small fortune and all of his time and attention.
Well, while I appreciate the thought It’s something I have been considering ever since I wrote this blog post way back when. If you are new here please consider reading that post before continuing here.
The key was always to set in place multiple revenue streams so that when the time came I could put the much needed attention on to growing them.
Well that time has come, below is a break down of whats ready, whats to come, and what I think the long term evolution of Bitjoin could be.
I have set in place the following 8 revenue streams:
- Sales of The Fakefluencer Film (2021) via The Fakefluencer Film website – Coinbase & Paypal accounts
- The Fakefluencer Film Character collection NFTs on WAX
- Merchandise sold via the Bitjoin Store on The Fakefluencer Film website – Coinbase & Paypal accounts
- Scootercoin holdings on Freiexchange
- Tom Gillespies Mogul Production NFTs on Mogul
- All assets that currently sit in the treasury wallet across all connected chains.
- Sales of The Fakefluencer Film (2021) – On Beem account.
- Donations via The Fakefluencer Film website – Coinbase & Paypal accounts
Soon with the publishing of the Hexicans Mini-series in Q4 2022 comes several more revenue streams:
- The Hexicans documentary mini series itself.
- 17 RAW interviews to be individually paywalled or NFTs applied
- Potentially other NFTs derivatives.
That brings us up to 26 revenue streams to be leveraged into what I am currently calling The Bitjoinery.
The Bitjoinery is something I have been considering for the best part of 2022 and essentially is intended to put Bitjoin Studios on a path towards full decentralisation.
I have written at length about how I imagine that could happen, but have refrained from putting anything of real substance in place, partly because I just haven’t had the time, and partly because I think it should be born out of the crowd rather than simply my own suggestions.
While it is an immense task to build, maintain and retain such a group of budding entrepreneurial creative minds, it’s essential to start as we mean to go on.
The one thing I can do to express my commitment is to point the above mentioned revenue streams into a wallet that the general public can view as they wish, I’m calling this the treasury wallet for now and I think it can provide a great way for communicating the potential of what we’re attempting to do at Bitjoin; which is primarily to entertain and educate in a way that is more accessible to younger, less tech savvy less financially literate people that wind up getting into crypto.
You can read more about what I think the bitjoinery could be at the following links:
- Step by Step
- One Complete Cycle
- The Bitjoinery Treasury and the Studio DAO
- Whats in The Treasury Today?
So perhaps you are thinking but Rich, why not just point all the revenue streams into your own wallet and enjoy them mad gainz?
My response would be that’s short sighted and would still (assuming any significant revenue) require me to go out and put that capital to work, which is all a rather cumbersome state of affairs, and would largely keep Bitjoin Studios just as it is right now, a centrally owned and operated entity.
My hope is together with the initial fan base (Highlighted below) we can start to move Bitjoin into the realm of a DAO, and I think the best way to start in that general direction is by committing the works that I have developed to date to become the property of what I’m currently calling The Bitjoinery Studio DAO.
This could give us a good leaping off point to get to the next stages of development which of course would be both funded and decided by more participants than just myself. I’m currently thinking to cap participation at 150 members, you can learn why here.
I don’t know how things will unfold over the coming years, but what I do know is that if people enjoy the work I have delivered thus far as they say they have, then we should be well positioned to develop a pretty cozy place for more people to participate in a way that suits them.
I feel somewhat compelled to set some arbitrary numbers so that we can know when The Bitoinery is ready to begin its first cycle.
So… My suggestion is when or if the bitjoin treasury wallet hits 50.000 USD denominated in whatever assets, all assets should be exchanged for a stablecoin, that can be put to work compensating participants in the first cycle.
While I feel the number of participants should be capped at 150, An initial complete cycle could be achieved with as few as 12 participants, with 4 each representing the 3 key roles.
keen to dive in? You can learn more about suggested roles, and contribute your ideas in the Discord chat here. Alternatively you are more than welcome to stay up to date passively by dropping an email at https://thebitjoinery.com
Rich Tella – Crypto Documentarian & Benevolent Director @bitjoin studios.
FYI: As of the 9th of November 2022 all of the related social accounts and websites have the following numbers associated:
- Tom Gillespie socials: 25,151
- The fakefluencer film socials: 6,044
- The fakefleuncer website: 14
- Crypto scamdemic website: ?????
- Bitman 360 socials: 8,105
- Scootercoin socials: 403
- Scootercoin website: ??????
- bitjoin studios socials: 4,143
- bitjoin website: 1,442
- Rich Tella socials: 4,493
- Rich Tella website: 111
- Bitjoin friends Subscribers Email list: 573
- Hexicans doco social: 145