Crypto
- Celebrating life’s special times with POAPs: weddings, anniversaries, birthdays and birth days, graduations, family trips, and all the other moments that make life precious.
- You can see the early inventory trend drops quick which is a reflection of preorders that folk sent in.
- True North was the first scent to sell out and sold just as fast as Winter Wonderland until they were all gone.
- Just Crackle was popular with people buying many candles as gifts.
- Old Fashioned had more than other scents but still sold out quickly.
- Apple of My Eye underperformed and was the least popular scent until the end when there wasn’t as many options.
- Winter Wonderland seems to sell faster when it is on display and people can see there are so many of them. On Saturday we kept 5 of each candle on the table and added more as they were sold. The rate of sales were slower. On Sunday there were 30+ of them on the table. Do people buy more when they see there are so many?
- We sold out! Inventory went negative? Indeed we ran out of candles and I sent an email to let folks know if they were still planning to come. We did have a few people show up after we were out and I realized I had a couple dozen candles downstairs I had poured for myself. I brought them up and we kept raising more money for our causes!
- Revenue > Cash Burn, Runway: 140 months
- Revenue: $1.9M (vs. $2.4M last month)
- Cash Inflow: $1M (vs. $1M last month)
- Normalized Cash Burn: $0.8M
- Reserves: $113M (ETH: 101M, USDC: 12M)
- Total Endowment: $79.7M
- P&L: -$15.7M (ETH mark-to-market)
It’s my birthday tomorrow! Noting my rings and version number the day before. 😊
I’ll be sharing my 53rd Birthday POAP. Want one? Just ask.
POAP Event Trends
It has become a tradition for me to create a POAP for my birthday. I’ve been doing it since my 50th Birthday and now have 51st, 52nd, and now my 53rd. Since POAP uses a simple sequential number for events I can easily see how many POAP events have been created for those years.
| Year (Approx) | Events |
|---|---|
| 2022 | 74,298 |
| 2023 | 71,285 |
| 2024 | 16,826 |
That is a big drop in 2024, however it is still 46 events a day. I love what POAP is doing and they are slowly getting their whole offering easier to use and more streamlined. My guess is that they are not actively pushing to create more events right now while they improve the product. I’m rooting for them to be massively successful. I think POAP could be one of the products that shows the path for blockchain adoption.
POAP 7284931 at Jamie Thingelstad's 53rd Birthday.
POAP 7281029 at Weekly Thing Christmas Blogs.
I couldn’t pass up an opportunity to make a POAP — created Weekly Thing Christmas Blogs to send to the five people that got a year of micro.blog under their Christmas tree this year! 🎄🎁
Tyler and I decided to redeem the Pokemon 2014 #69 M Charizard EX card that we bought via Collector Crypt. Collector Crypt stores the graded card securely and you hold the NFT as proof of ownership. We burned the NFT and withdrew the card. It arrived today and is great!
The 2024 Year in POAP is out and I was proud to again (see 2023) have one of my POAPs highlighted — our Thingelstad Ireland 2024 was the family trip mention.
There are so many cool things happening in the POAP world and this annual roundup is a great recap. I 💛 POAP!
POAP 7276968 at Things 4 Good Scent Survey.
Nice treasure when I opened my chests from last week’s missions on Famous Fox Federation. By far my favorite NFT project still thriving.
Bitcoin crossed $100,000 USD for the first time ever on December 4, 2024!
Alby is deprecating their shared Bitcoin Lightning wallet service. I don’t want to host my own node or use their cloud hub so I transferred the satoshis I had there via lightning to my Strike wallet. Still amazes me how fast and simple Lightning is. ⚡️
Things 4 Good 2024 Fall Fundraiser Insights
We had a great time hosting our 4th annual Things 4 Good Fall Fundraiser. We raised $7,010 in donations for our four non-profits. I also like to take a look at the data from the sale to learn more for next year.
We made 252 candles in preparation for the sale. We had 72 Winter Wonderland, 36 Old Fashioned, and 24 of the other six scents. We really had no idea what to do for inventory since this was the first year we sold to the public at the Mt. Olivet Holiday Boutique.
We had 78 candle purchases which is a huge 42% jump from last year. On average people purchased 3 candles, down from 4 last year. However averages don’t tell the story. Most people got one candle, and there are a smaller number of people that get a large number — usually as gifts for the holidays. We had 5 transactions for more than 8 candles, accounting for a whopping 76 candles, 30% of our inventory.
This year we had eight different scents, the exact same as last year. We renamed Plain Jane to Just Crackle, and it was similarly popular for folks wanting an unscented candle. We did fine tune the scents though and increased the scent load on some of them. Here is a look at rolling inventory as sales were happening.
Some observations:
We offer folks a number of ways to donate and again Venmo was by far the most popular method, 3.5 times more popular than cash. More people knew what Zelle was this year. I continue to be surprised at how few people have Apple Pay setup. Three checks! I did not offer a method to pay via crypto this year. We’ve only ever had one candle sale in all the years we’ve done it using Bitcoin Lightning.
We are already keeping notes for things we want to do to make next year’s Things 4 Good Fall Fundraiser even better. Send us an email if you have any suggestions!
Also see 2024 Fall Fundraiser Results.
POAP 7230509 at Weekly Thing 300.
I burned four of the runes I collected along with 75,000 FOXY to mint my Summoned Fox #9569! Famous Fox Federation is still a super fun NFT project.
The Things 4 Good 2024 Candle Fundraiser POAP is ready to share with folks at this weekends event! It is a good example of how I’m not a designer. 😬
Exploring FIFA Collect
I’ve been intrigued with FIFA Collect for a bit. My interest was piqued when I saw that they are dropping collectibles with “Right to Buy” for the 2026 World Cup and I am very hopeful to go to at least a match. I’m guessing tickets will not be easy to get so getting a “Right to Buy” collectible for the city that I want to go to might be really nice.
This morning I sat down with FIFA Collect and really figured out how it works. I was generally impressed. It is a full NFT solution built on the Algorand blockchain. I have used a ton of blockchains but hadn’t had a reason to use Algorand. Algorand is not a Ethereum ecosystem blockchain so I downloaded Pera wallet to get started. Then I bought $20 USD worth of ALGO on Coinbase, transferred to my wallet and swapped 100 ALGO for 12.232474 of USDC-a, which is the USDC stablecoin token for Algorand.
A few minutes later I purchased my first FIFA collectible on the marketplace, a World Cup 1994 USA #611 poster.
I can buy some drops and hope I get lucky to find a “right to buy” collectible. Alternatively, there are already collectibles on the marketplace that others are selling with those rights. Right now the cheapest “right to buy” collectibles are selling for around $300.
POAP 7210582 at EFP Early 2024.
ENS Continued Progress
I continue to believe that despite the volume of scammers in crypto there is real value and important capability in this technology. Ethereum Name Service (ENS) is a key component of that and these three highlights stood out to me in ENS DAO Newsletter #70, Sept 24 2024
ENS Domains Now Supported on PayPal and Venmo…
ENS is now integrated with PayPal and Venmo, allowing users to simplify crypto transfers by entering their ENS name. This feature eliminates the need for copying long wallet addresses and enables secure, user-friendly transactions. An Address Book feature also allows users to save and recall frequently used ENS names and wallet addresses for faster transfers. This service is currently available in the U.S.
Eth.Link Operating Again…
The eth.link gateway is now officially powered by eth.limo, reviving its role as a key ENS gateway for decentralized websites.
POAP Providing Free ENS…
The latest release of the POAP Home app includes a feature allowing collectors to claim a free ENS subname.
And how about these incredible August 2024 DAO financials:
All powered as an operating DAO.