Q1 REPORT and PLANS FOR Q2.
The first quarter of 2022 has been exciting, thrilling, and eventful. For the AFEN ecosystem and the crypto space in general, we can say that there has been a mixture of emotions peculiar to the outgoing quarter. On the positive side, Quarter 1 has witnessed participants and players of the crypto markets move from a bearish sentiment to a bullish one in the last couple of days towards the end of this quarter. On the other hand, we’ve also collectively witnessed some down moments outside of crypto like the Russia-Ukraine war, and some crazy ones within the crypto space like the Ronin network exploited by a hacker with damages up to 600million dollars.
Past the generally high and low moments experienced in this quarter, now looking inwardly, the Afen team, together with the help and support of our fantastic community, have achieved a significant part of the first quarter of the roadmap. In the following points and paragraphs, we will outline some proud moments for our community.
From AFEN NFT marketplace to NFTYTRIBE:
A significant difference between last year and the current year is the determination on our (AFEN) part to revamp and restructure our existing product, the AFEN NFT marketplace, for several reasons. Such reasons are the need to be closer to liquidity, exposure to broader markets, inclusiveness for the community, and a better structure to meet current standards. So far, we have gone ahead to create the first touchpoint of interaction with our revamp journey on the landing page for nftytribe. Concerning the development status, we have commenced deploying our existing smart contract to the Ethereum chain and a “mystery” chain. We hope to reveal this mystery chain in Q2. Moreso, we are well into rounding up UI development and are actively reviewing every bit of development activity to ensure that we launch a product offering insurmountable value to the AFEN community.
As we progress into Q2, 2022, we will announce more definite dates for launching the revamped NFT marketplace. In the meantime, we will implement more direct community engagement methods to bring the community up to speed with our development efforts. To find out more about what we have in store for the community, visit nftytribe, download, and read the litepaper.
Development update on other AFEN products:
Beyond the revamp of our maiden product (to NftyTribe), we successfully introduced two (2) new products into our ecosystem; Metacitti & Bloomone. The goal for AFEN is to build an ecosystem of products leveraging NFT technology to alleviate pain points in existing industries. In line with this vision, we bring to you:
Bloomone: AFEN’s crypto educational venture to develop a learn and earn platform and create quality educational crypto and web3 content pipeline. We’re excited with how far we’ve come with the development of this project, introducing phase 1 in the outgoing quarter — Surely, one of our proudest moments in Q1,2022.
In Quarter 2, we look forward to commencing the development of the second phase of the Bloomone project; a learn and earn learning management system, NFT certificates, internship opportunities, and other exciting things to come.
Metacitti: The first quarter of 2022 also witnessed the introduction of Metacitti, a marketplace for Real estate fractional NFTs. The development of this project will continue in Q2.
Quarter 1 Partnership(s):
Strategic partnerships are a priority for AFEN, both for the growth of the token and the ecosystem. And so, we have partnered with projects such as the Plateau Smart Tourism project (PST) and received an official endorsement from the state body to digitise tourism in the state. Our collaboration with PST aligns with the AFEN smart tourism project, which seeks to digitize tourism in Africa.
What To Expect in Quarter 2:
TOKEN BURN:
We are kickstarting quarter two on a high note, taking advantage of bullish indications in the market to fulfill the anticipated token burn event. While we still have more burn events ahead, we will conduct our first and second buyback and burn events on the 18th and 25th of April, respectively. We strongly believe there is no better time to kick off intentional efforts to strengthen the AFEN token. We anticipate a reduction in investor whale activities as we have suffered in the past and encourage community members/holders of the $AFEN token to stake their tokens.
PROJECTED COMPLETION OF THE MARKETPLACE REVAMP:
We are optimistic about our development progress and expect things to go smoothly towards the launch of the revamped and restructured NFT marketplace in Q2. Before launching the marketplace, the announcements of launch partners and collaborations for the sake of activity will occur. We will provide updates for the project’s launch in Q2. Subscribe here.
MORE PARTNERSHIPS:
We will be exploring partnerships of various kinds to bring value to the AFEN ecosystem. Part of our strategy to achieve this is through partnerships with newer network chains, thereby putting us in a position to engender strategic partnerships at an earlier time.
OTHER PROJECTED EXPECTATIONS:
- The development of Bloomone phase 2: As we said earlier, phase 2 development for bloomone will begin in Q2 and hopefully be ready by Q3/Q4. In the meantime, sit back and enjoy phase 1, filled with giveaways, exciting crypto content, and lots more.
- Progress on AFEN smart tourism project: Our focus for AFEN smart tourism project is on quality partnerships to take on this adventure. We hope to cover more ground to add to our recent collaboration with the Plateau state smart tourism group and make further progress into the project’s second phase.
Final words:
We are thankful for the support for the AFEN project in the first quarter. Our expectations are equal to the community’s demands, and we have placed token and ecosystem growth at the top. We are constantly exploring better ways to keep the community on Telegram and Discord as active as possible. We welcome all forms of feedback and expect to see your emails. Kindly leave us a message at hello@afengroup.com, and we will respond swiftly.
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BloomONE:
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