As some of you may know, we launched a collection of NFTs last week. Originally they were put on two different marketplaces, but as of yesterday they live only on the Kusama blockchain. The theme is simply a dalmatian portrait with different accessories and backgrounds. RMRK and Singular have been great to work with, but earlier this week we hit our first snag. Our collection was quickly verified, and then became un-verified on Monday (10/25).
Simply put, I made a mistake when assembling the art assets for this collection. Please note that every component of these images is properly licensed, but some of the accessories are not exclusive to the collection. This is a mistake that we will not make again. We apologize for any confusion, and specifically to anyone that purchased a dog from what was a verified collection, and now is not. Below I will lay out the steps that we are taking to support our investors, but first let me just say this:
I'm sorry. I had a great idea and did not execute it properly.
If you own a pawtriot, it is possible that an accessory for your dog was not completely developed in-house. This is why the collection was pulled from the verified list. RMRK has given us the option to buy back the affected dogs and remint them, but it's not clear to me that this is even possible. So I've decided on a response plan that I call RER—explained below. My priority is to protect value for our existing investors. If I can get through this unfortunate situation without alienating anyone, I will call that a win. We have other collections in the pipeline right now, and all I want is for our fans and investors to know that our heart is in the right place. We will continue to deliver high-quality art in an original and compelling way without any more complications.
The Response Plan (RER)
On to the mitigation strategy. I will lay out a three part plan to shore up value for existing investors. It's not clear that we will be able to have the collection RE-verified, although time will tell. For now, this is what we are doing to make good.
R is for Rarity
As I mentioned, this collection of pawtriots was originally released across two different marketplaces—as of yesterday that is no longer the case. I was able to buy back the purchased dogs on the OpenSea marketplace, and delete that collection entirely. So the dogs that are in private hands are now more rare, and thus, should hold more value. Also, after the drop tomorrow and the giveaway on Sunday that were both announced on Twitter, we will no longer be minting new dogs in this collection. This is again to preserve value for the existing dogs, but also to save room in the collection for anyone that wishes to have their existing dog re-minted. IF the collection becomes re-verified, I will finish minting with whatever room is left.
E is for Exchange
If you own a pawtriot numbered #45 or below, please message me on Twitter if you would like for me to verify provenance on your dog's accessories. If it turns out that your dog is wearing a non-exclusive accessory, we will remint your dog with a new accessory of your choosing, and burn the old one. If everyone contacts me, and all the necessary dogs are reminted, then we can have the collection verified again. This will take time and if even one owner does not respond, then it won't work. But I am ready to put in the effort, so feel free to reach out with any other questions.
R is for Rebirth
I am excited about the prospects of RMRK 2.0, and we are in the process of developing the pawtriot brand for an attachable-accessory model—once RMRK 2.0 is released, we plan to make the dog bodies available in a limited collection, along with interchangeable backgrounds and accessories. Truly, Dalmatian Nation is a perfect fit for this new, Kanaria-style marketplace. This project will be ongoing and we do not have a solid timeline yet for launch, but whenever we get there, we will be airdropping a pawtriot 2.0 to each owner in the original collection. This is our way of saying thank you for staying with us.
We feel very lucky to have connected with such a fantastic group of artists and creators and fans of collectible NFTs. I hope I have made it clear that our priority is to take care of our fans and investors.
Our last drop, at least for now, will be tomorrow, and we will announce on Twitter at least 30 minutes before.
Thank you for your support.
View the collection here.