I forgot to send this to you, here bruv:
Did you know we sent our first investor update 12 months ago? How time-flies.
TLDR: We’ve increased distribution, finding success from investing time + effort into key projects built on our API, and are extending the functionality of no-code in our API. We’re slowly becoming Solana’s most trusted NFT API.
We’ll be speaking at Solana’s Breakpoint Conference + appearances with other big podcasts in the space 😉! Check out some of our podcasts this month:
Time is ticking. Summer is back, we have our deck ready + polished. Our main focus is revenue & growth of our partners → increase in NFTs minted using Underdog.
Long tail usage is low, short tail usage is high
We’ve seen an increase in credit cards inputted into our system but we are seeing low usage in the API (revenue = $1-$5 per user). Our focus on helping our partners grow has been paying off with an increase of +20% in usage for our key partners.
Revenue is decreasing
I think the correlation between a decrease in revenue is equal to a decrease in subscriptions. This is mostly due to the fact that we switched our pricing plan from subscriptions to pay as you go.
We’re not going cross-chain, we’re bringing other chains into Solana
We’ve heard from developers that we’re the easiest way to mint NFTs and it’s not close. Compression on Solana unlocks a plethora of business models that other ecosystems are taking notice of.
With the Chainstack Integration, we are baked into their platform, so developers and Enterprises who use Chainstack, can create Compressed NFTs on Solana through Underdog Protocol. Even better? Revenue Share! Time to push the partnership!
GET YOUR PORT CO’S ON CHAINSTACK REGARDLESS OF CHAIN.
People are building on on-top of the API and it’s some really cool stuff!
In less than a year, we’ve gone from no projects to 52 projects built on the API! Many of which are emerging startups themselves and making revenue! From the recent OPOS Hackathon, we saw 8 projects utilize our API to create interesting tools in creator economy, data + ads, and gaming.
Check out Alphalines & Sporting Labs which is one of my favorites this month. They’re using our API to create cookies on-chain and reward users for actions.
🎯 August Priorities
Biz Dev + GTM 📊
Increase projects built on API by 20, Tony will be doing increased outreach during the next Solana Hackathon since we are Judges ,