BNRG Update for August 2023
Extend My Runway Begins the Next Iteration of AI Platform
Summer has been exciting at Extend My Runway. As we near the final version of our AI MVP for Infineon Technologies, our next steps and pathway to market is becoming much clearer. That also means we are another step closer to creating an opportunity for the BNRG utility token.
Next Step for the EMR’s COReTEX AI Platform
Currently, EMR has initiated work with an ASEAN bank’s open finance arm to build version 3 of our platform. Currently we have:
- Agreed to co-innovate and together build the next and more advanced version of our MVP
- Flown to the bank’s HQ in ASEAN and spent two days designing our process and agreeing the path forward.
- Completed work sprint #1 which included designing the experiments/research that will provide actionable data to guide our path forward.
The specifics of this agreement will be shared when all contracts are finalized. We hope that is by month’s end.
We are extremely fortunate to have found a second successful organization to co-innovate with (the first was Infineon Technologies), who shares an equal desire to use technology for good and create opportunity, and who is equally dedicated to data protection and the individual’s control over their own data. It’s a very good fit.
The important point is this — this second co-innovation agreement will take the form of a JV and give us a crystal clear pathway to a market-ready product, sales, revenue, and a strong 2024.
Pursuing Classic VC Funding for EMR
With the ADA market remaining at a 70%+ loss relative to the time we launched the BNRG utility token (i.e., a pre-sale of services), and with the new ASEAN co-innovation agreement to build the next version of our platform already underway, classic funding routes make more sense.
EMR has started with an experienced VC in Prague to build a new pitch deck and begin investment conversations in September.
The aim, first and foremost, will be to build a sales machine that can take the completed AI platfom to market and offer value-added services around it. We will also need to incvest in IP protection, hire a few people at fair market salaries, and deliver the business.
What It All Means for the BNRG Utility Token
The plan to offer a buy-back remains the preferred pathway. With ADA market prices continuing to represent a 70%+ loss (as of the time of this writing) relative to the presale price, it makes no sense but the utility token high and sell it low.
The better path is a buy-back programme that ensures early utiltity token buyers have the opportunity to see value from their pre-purchase of services in the form of the BNRG token.
Any buy-back programme would be executed on the back of either a substantive investment or real revenue. We are hoping that happens within 4–6 months. Investments, however, take time and there are certain steps that must come before a buy-back.
The investment is also needed to integrate the blockchain into our design, as originally envisioned (ths driving the use of the BNRG utility token).
EMR Welcomes Its First Intern
Last week EMR welcomed Will onto the team. Will is a student at London School of Economics (LSE) where he is studying psychology and behavioural science. Will is going to help us translate the behavioural science research into actionable nudges that help people.
Will is going to work alongside Prof. Michael in applying the research and designing our A/B tests.
