Mainnet launch at the end of January 2024!

We’ve been hard at work behind the scenes and we’ve finally got our legal structure settled. We have pursued a few different options and finally settled on one we’re all confident in.

I want to acknowledge that I’ve been a bit quiet in that time. Simply put, that's because there were no new updates and no new capital coming in to support the project. Just a slow, frustrating grind.

BEANSDAO is a self-funded venture and I needed to find alternatives that were affordable in order to get this launched. Unfortunately that process took a lot more time than I had anticipated and I would like to apologize for mismanaging your expectations. These worlds are all new to me and I underestimated how difficult they would be to navigate.

Thankfully I’ve met some incredible people along this path and we made it happen. It’s ready and so help me god it’s going to launch.

There’s an old saying in development: Good, fast, cheap. Choose two.

We chose good and cheap. (As it turns out, cheap is not so cheap either.)

Refocused Mission

In order to align with what’s at the heart of this DAO we feel we need to tighten its mission.

BEANSDAO supports the arts.

That’s the mission and the north star of the DAO. It’s vague enough for us to encapsulate many things and tight enough where we can be a bit more productive about where capital flows. It’s an adjustment to our original north star ‘building dreams with beans’.

This mission comes from the original intention for creating the DAO. In the US grants for artists are incredibly difficult to obtain. I know this because I’ve been that artist trying to find funding for my first short animated project.

I ended up funding that film myself. I worked on it over weekends, between freelance bookings, and basically any free time I had over the course of a year. Even after pulling favors from friends it drained my entire bank account.

When I had the means to do so I decided I wanted to create a place where artists of all kinds could have a chance to get funding for their projects no matter who they are or where they live in the world. This is at the very heart of BEANSDAO and I hope it’s something we can carry forward as it evolves over time.

Brand Refresh

We’ll be refreshing the logo a bit to usher in this new era of BEANSDAO.

Expectations

If making a speculative trade is your main goal, this project is not for you.

This is not a pump and dump, this is not a speculative number-go-up project, and it is not for penny pinching pocket watchers. The team is not worried about the price of the NFTs going up forever and the goal for the DAO, more or less, is to spend every penny to support our DAOs mission as soon as we can deploy it.

What BEANSDAO is has yet to be fully defined, however funding the arts will be at its core and the bean character will be the vehicle to do so. If that is a mission you find yourself aligning with, then this project could be for you!

The core Bean Team has put a ton of their own personal capital, time, effort, blood, sweat, and tears into this project. Countless hours over the course of multiple years. That being said, once it’s launched I don’t think any of us are looking to be the archetypal web3 project founders people will grow to expect us to be. This project is very much a part of our lives and not our entire lives. It is more of a passion project than it is a business. We’re happy to keep the wheels on the foundation but if the community wants any additional organized efforts post-launch that may need to be one of the first things proposed to the DAO. (Example: spaces, townhalls, voting discussions, extra documentation, etc.)

I look forward to hearing your thoughts in the Discord.

- Jack