Founder’s Letter to The Abyss Token Holders
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Dear friends! Yet another poll for the tap increase has started recently. We would like to keep you up-to-date with the current working progress and funds spending.
Availability of funds for May and June allowed for successful start of The Abyss platform development, creation of team and promotion, as well as for the arrangement of exchange listings and partnerships.
Expanding of the development team allowed us to deliver all milestones planned for Q2 and to get the pre-alpha version of the platform ready for launch already on July 19. However, the development team is not complete yet and recruitment of the best talents is still in process.
Introduction of pre-alpha version of The Abyss will allow for creating of even more in-depth user experience and will encourage developers to place their games on the platform.
Latest developments include:
- Extension of platform functionality;
- The first game is on the platform;
- ABYSS tokens are already integrated and most of Stages 1–2 target functionality is implemented;
- Specific content data module containing all information on one’s referrals is added.
As of now, The Abyss is listed on 11 exchanges, with top 7 ranking exchanges among them. This is an incredible achievement considering the current situation with exchanges accepting very few projects for listings. The Abyss Team continues negotiating more listings at the moment.
Achievements in terms of marketing & PR are:
- Increased awareness of The Abyss in key markets through various activities in own, earned and paid media;
- Continued negotiating partnership pre-agreements with game developers, with the focus on USA (resulting from participation in E3 event) and Europe;
- Successful participation in E3, the major video game industry event;
- Preparation for participation in ChinaJoy, the most important game industry event held in China (one of the biggest game markets in the world). This year it will take place on Aug 3–6 in Shanghai. Pre-payments were required to secure The Abyss’ participation in the event.
In general, an important factor to be considered is the effect of the EHT/fiat exchange rate which is very volatile and has a tendency of downtrend (a 36% decrease since May 16, 2018). Most of the costs facing The Abyss are in the fiat currency, and such negative exchange rate generates extra costs.
The next month spending requires to cover:
- The expanding of development team (in order to deliver on the development plan);
- Salaries of the current excellent team members working on The Abyss;
- Expenses needed for participation in ChinaJoy, and for securing our presence at Gamescom, the high-profile global game industry event, which will allow us to present The Abyss platform to the developers and continue securing new partnership agreements;
- Marketing support for the launch of pre-alpha version of the platform;
- Risks driven by the down-trend of ETH rate.
We also create the buffer of budgets meant for potential new listings on top exchanges and signing early-bird agreements with major game developers which will require fast reaction and immediate payments.
A lot has been achieved during the last 2 months. I am proud of my team and very grateful to all our contributors and supporters. There is still a long way ahead of us to complete The Abyss project and bring it to success.
With kind regards,
Founder of The Abyss