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Project Update - 16.06.2021

Summary for the 16th June project update

Legal entity

Corporate entity has been established in the United States, under the name
Kindling Technologies Incorporated
. Being located in the United States is important because it brings about more investment opportunities. Bonfire will put into place a corporate structure and form a Human Resources department. A website for the corporate entity is being created, and will be completed in a few days. A roadmap will be released in regards to the entity behind Bonfire Token.

New investor

Bonfire is working through a due diligence capital raising process with a Venture capital firm based in the United States. This is the reason for the project update delay.

Bonfire reached a deal with Climb Investments inc, and is going to receive its first tranche of funds in only a few days. This funding will allow us to operate for up to 12 months. The owner of Climb, Brad, is a community member himself.

The venture partner will be able to provide heavy inroads in order for us to break into several global markets, particularly in the online financial transactions space. The sister company of the partner is a global leader in the area, processing billions worth of U.S. dollars every year. It is important to reach out to venture finance because of the absence of a developer wallet. We will officially announce this relationship on Twitter.

Marketing

Bonfire will deploy influencer marketing through Twitter, Telegram, TikTok, and YouTube. We will use entertaining and thought provoking content, of which we can observe real-time results. We will tailor every collaboration to make sure that we are generating instant conversions. Many of these influencers will have long term partnerships with our brand, and will raise awareness about Bonfire to targeted audiences. We will be targeting higher value customers, and foreign markets such as Russia and the Middle East.

Bonfire will engage in business to consumer marketing by placing advertisements on ad banners, Google AdWords, etc. We will use native ads, which allows us to target specific demographics i.e financial and business sectors.

In addition to all mentioned above, Bonfire will be involved in B2B marketing, which will reduce the possibility of wasted impressions through refining the marketing to specific companies.

Social media will be crucial to our marketing approach for several reasons. We do not need to rely on third parties. We can create targeted ads. We can achieve a high organic click-through, and we can test our approaches.

Over time our marketing strategy will include:
Blog Posts
Print Media
Broadcast Advertising
Email Marketing
Educational Hub
Merchandise
Flyers
YouTube Series
Nft Drops
Viral Social Media Challenges
Public Events
eBooks & Guides
Newsletters
Research And Data
Webinars
Interactive Content
Tools & Games

We are on track to release the Firestarter launchpad beta by the end of Q2. We encourage all pre launch projects to apply for an opportunity to be listed on the platform. Every project will be scrutinized to the highest degree, and once some have passed, we will announce the very first IDO. Tier lists, whitelist, and qualification criteria will all be explained upon launch.

It is important that we are not only creating technology products, but a COMPLETE ecosystem. The name you have reserved on bonfire.name will be the gateway to the ecosystem. Things will start off modest in the ecosystem, there will be a few products, such as Firestarter, but this will grow into the future home of other products such as the NFT marketplace, and social platform. The ecosystem will be the infrastructure that holds the token, corporation, and Firestarter in place. The engineering and design teams have been working non-stop to meet the quarter 2 deliveries.

Chainlink

In regards to Chainlink, discussions are continuing, and our developer is ready to begin the integration process. We aim to explore more areas of integration in addition. Our Founder's Edition NFTs concept has been finalized, but we are pushing back the release to ensure that the product is integrated with Chainlink's VRF protocol.

Bonfire App

Will Parry is working through the final phases of the Bonfire App. It will be a react native app so we can better ensure that both IOS and Android users are satisfied. We are applying for both the App Store and Google Play Store, to reach as many users as possible. We will use a continuous delivery approach so that new features are consistently added.

Design updates

Jamie, our designer, released a design update on notion. Head over to Twitter to read this.

Feedback

We love the feedback we received on canny.io, and want to encourage everyone to give as much feedback as possible. Interact with us on Canny at
.

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