Lucidao Community Update Q4 | 2022

Dear Community,

The purpose of this update is to present a summary of all the key developments in Q4. As many of you know, we have successfully completed the soft launch of Altr’s first fractionalised collectible. The report will cover the various areas of focus during Q4, and will also touch on what to expect for Q1, 2023.

• Altr Soft Launch: The current soft launch of the Altr marketplace features a Rolex 6265/8 collectible, priced at $195,000 USDt. This collectible is fractionalised, meaning divided into smaller units or “shares” that can be purchased by individual users. In this case, the Rolex Daytona is available as 500 shares, with a minimum ownership price of $390 per share. This soft launch allows us to gather feedback and make necessary improvements before the official launch in Q1.
• Tech improvements: The team has made significant progress in improving the technology behind the platform. We have completed the frontend design for the Altr marketplace, where new collectibles will be announced and sold, and integrated the platform with various service providers (KYC, email, whitelisting, IPFS). In addition, the team has modernised the tech stack to improve build, test, and delivery speed.
• Fractionalisation: The team has finalised a formula for fractionalisation, which considers weighted prices from the oracle index and on-chain trading on the Altr platform. We’ve also finalised a strategy to provide a fair claim formula if a buyer wants to buy all outstanding fragmented NFTs.
• Rebranding of Lucidao: The team is in the process of rebranding Lucidao and updating the website. This includes changes to the project’s visual identity, logo, colour scheme, and overall website aesthetic.
• T&Cs finalised: The Terms and Conditions (T&Cs) and Privacy Policy for the platform with MME. Having clear T&Cs in place is important for ensuring a smooth and fair experience for all platform users.
• Legal framework: The team has established a legal framework for the platform. This includes incorporation as a Decentralized Autonomous Association (DAA), which allows the platform to operate as a decentralised and self-governed entity. The necessary documentation has been submitted, and the DAA has been created in Switzerland.
• Completing documentation and GitBooks: The team is finalising the documentation for Lucidao and Altr, as well as creating Gitbooks to provide users with a comprehensive guide to using the platform. This documentation will help users understand how to use the platform and take full advantage of its features.
• The team is growing: The Lucidao team has recently hired a Business Development Lead for Web3 and an additional Business Development Lead for events, auctions, and conferences in the collectible space. This will allow the team to expand its reach and create new partnerships and opportunities.
• Treasury is healthy: The Lucidao treasury is in a healthy state, which means the project has sufficient funds to continue building. This will allow the team to continue developing the platform, extending our reach through marketing and PR initiatives, and creating new partnerships and opportunities.

There have been a lot of moving pieces in the lead-up to the Soft Launch. Now that we are here, the focus for 2023 is clear: growth and adoption!

Here is what to expect in Q1:

• The official launch of the Altr platform including the “hero drop”
• Launch of new Lucidao rebrand and website
• Attendance at key events with exposure to high-end collectors (e.g. THE ICE St. Moritz — International Concours of Elegance, February 24th) with the focus of bringing “offline collectors” online
• Ramp up of Web3 PR and marketing initiatives with a functioning marketplace to grow our online community
• Partnerships with new dexes and Web3 integrations
• Building the Lending functionality on Altr.
• Refine the Altr drop model for ongoing product launches.
• Refine oracle onboarding

Despite the challenging market conditions 2022, our focus has been on getting the first dApp launched. The soft launch has illustrated that we have a functioning platform, which is being optimized for the official launch. We remain excited about the potential of what we are building and are laser-focused on shaping a one-of-a-kind first-in-class platform, worthy of the unique and world-class collectibles you will find on the marketplace.

We are grateful to our community for coming along on this ride with us and encourage you to reach out to us if you have questions (https://linktr.ee/Lucidao).

Bring on 2023 🚀