First and foremost
It’s been almost a week since our crowdsale and we’d like to communicate our conclusions on what’s happened, but it would be unfair to start without acknowledging the reasons we’re here today:
For all those who have contributed to our project, whether financially or through their feedback and support: thank you. If it weren’t for your belief and confidence, this project wouldn’t be the same.
We’d also like to thank each and every Legacy team member. Every one of them is a very important part of the machine that makes Legacy work as a whole. Without their hard work, our project would still be in early development, yet it has grown immensely these past months.
Even though our Seed round with Cofoundit didn’t go as well as we expected, we are very happy with the overall result and have learned quite a lot. Spending those days in Ljubljana has been an incredible experience. We met amazing people. We also received a lot of positive feedback. Many people approached us to show their support and say how dear the project was to them — not only from a business point of view, but especially from a more emotional one. To all of them, thank you, and be sure that we are still looking forward to seeing Legacy’s first version out.
- Maturity: Legacy has come a long way since we started this adventure. The project and team has grown and each step we make, takes us in the right direction.
- Validation: this is probably the most important thing that we take back from this experience. We were one of the favourite projects, as confirmed by the priority pass community — which more than validates our idea and value proposition.
- People: we’ve been travelling a lot these days. Madrid, Paris, Ljubljana, Croatia, Italy and Berlin among others. The networking opportunities in these places have been great and they’ve allowed us to meet our supporters in person and to better understand them and their needs. Several investors have taken notice of the project and have contacted us directly to participate on our next move.
- Community growth: after the start of our marketing campaign, our community has been growing fast and steady. This validates our community building approach.
It is important to understand what happened so that we can learn from our mistakes. Not only for both us, the team, but also for all those who believe in Legacy. There are several factors that influenced the crowdsale, at different degrees, directly and indirectly. These may include, among others, the (bear) market conditions during the crowdsale, the crowdsale duration, our community and marketing strategy; and the requirement for KYC information, which is still not something common currently. As you may see, not all of these factors were in our hands. Also, it is noteworthy that other interesting and promising projects didn’t make their min cap either. Even though we have the feeling that we were doing things the right way, it is easy to see that what worked a few months back in the blockchain space, is not guaranteed to work now or in the near future. As a consequence, new ideas are needed.
Strategy going forward
One main takeaway regarding the
The current situation has slightly changed our game plan and we have adapted to it already. Of course, as we’ve stated above, we haven’t given up and this result has only made us stronger as a whole.
We’ll be communicating through an article what our next moves will be in the upcoming days, so stay tuned.