Funding & Proceeds

Funding

Up to this point, the Swole Ape NFTs have been paid for and funded out of pocket by our team members, reaching well into the five figure territory, and may reach six before launch. We truly believe in this model and concept, and have no issue showing that via our actions. These costs primarily went towards developing the art, website, ERC-721 smart contract, and funding our marketing campaign.

Following a successful launch of our first 3,333 Swole Ape NFTs, 10% of those funds will be set aside for future marketing, ensuring that our team will not have to pay out-of-pocket for any future expenses.

In the unlikely eventuality that our initial line of Swole Apes does not sell out or is not a resounding success as our team envisions, we will scale back our expectations and discuss options. Our revised plan would be based on the actual amount of funding collected and what would realistically be possible. Keep in mind that team's projections for our minimum viable product only calls for a fraction of the Swole Ape NFT's to be minted, meaning this is not an eventuality we are concerning ourselves with.

Proceeds

This project is not centered around the idea of garnering proceeds for our community, as the primary goal is to provide true utility. As such, all fund raised during the initial NFT sales will be put into a smart contract that we will consider the Treasury, which will fund the gym(s) and all side endeavors. The team will likely continue to hold the majority of the funds in ETH, but will initially convert 10-20% of the holdings to stable coins to ensure a sufficient amount of funds are 'safe'.

100% of holdings are currently designated towards establishing gyms for our community. If the treasury ever grows to sufficient levels via royalties and other eventual gym income streams, paying out those gains to our community would be heavily considered, and could be considered via governance vote. Continuing to expand the Swole Ape Ecosystem globally, challenging and disrupting gym models worldwide would be our ideal, but our community is and always will be our priority.