🐾| Part 1: YBC Project 1 Year Review

Phase 1 Review

July 17, 2023 To YBC holders:

Today, I am writing to you to review YBC's accomplishments over the past year. Through this update, you will learn about YBC's achievements, challenges faced, solutions implemented in the past year, and the YBC migration plan. YBC's business development can be divided in three distinct phases. Primarily, our first phase of growth focused on the following three objectives:

1. Launch the MVP (Minimum Viable Product) model of YBC

2. Attract influential individuals from major countries and cities to become YBC holders

3. Implement a value protection mechanism

YBC was launched on June 20, 2022, in the midst of the global crypto/NFT market downturn. We always believed that we would succeed in the NFT market in a completely different way, and we have kept this vision as our top priority. In addition to our experience in the blockchain industry, we have researched hundreds of NFT projects that are being created every day, and we have discussed and listened to the opinions of experts and holders. We also predicted that the crypto winter, which began in the spring of 2022, would last much longer than expected. And as we (unfortunately) expected, the downturn is still going on. In this environment, we believe that a lean startup is the best way to grow business, so we have minimized costs while still achieving the desired results from the MVP model launch to testing. We were able to experiment with YBC's unique hypothesis in the market, and we now have enough evidence to move on to Phase 2 of our story.

First, we would like to share updates on the launch and development of the YBC MVP model. When we initially developed and enhanced YBC's model, the concept of NFT membership was not yet established, and even the world's largest NFT exchange, OpenSea, did not introduce a separate membership category until December 2022. We saw the opportunity in the NFT market, which had the potential to disrupt traditional practices and business structures, considering the extensive possibilities for companies and individuals worldwide. We compared it to the early days of Bitcoin gaining recognition. We anticipated the emergence of various successful and failed NFT projects and projected that the NFT market would become 100 times larger and more active than before. Moreover, we believed that projects pursued with a long-term perspective could create value that is a hundred or a thousand times greater, even despite facing the fluctuations of the broader crypto market. Unlike many projects that perceive the NFT business as a short-cycle venture or view holders as mere rug-pull targets, YBC is a project that was founded with a long-term belief in the sustainability of the NFT market. Therefore, despite market downturns and overall investor sentiment, we were able to launch and develop our MVP model without wavering from the hypotheses we wanted to experiment with. Of course, the future is unpredictable, and maximizing the interests of holders will involve adapting and pivoting according to market conditions.

Secondly, we would like to discuss the importance of influential individuals becoming YBC holders and highlight the benefits they experienced when putting this into practice. Last year, YBC had a selective process for accepting holders. Joining applications could only be submitted if individuals received an invitation from the YBC team or existing members, and even if they applied, they had to undergo YBC's unique holder verification process to purchase and become YBC holders. We had several cases where applications were rejected, and in some cases, additional verification was necessary. We approved applications only from individuals who genuinely empathized with YBC's vision, demonstrated a willingness to contribute in the long term, and possessed a “diamond hands mentality”. Unlike the 99.9% of NFT projects where anyone can become a holder as long as they have enough crypto, we set strict criteria during the initial holder recruitment for the significant reason that a community that would drive the initial momentum was crucial. We have witnessed many communities composed mainly of paper hands members, who hesitate to hold onto their NFTs in the face of even slight fluctuations in NFT prices, quickly collapse. Moreover, operating a project with such low community trust requires double or triple the operating costs, and overall, the project is more prone to risks and failures. When YBC grows sufficiently, it becomes challenging to prevent the involvement of people with paper hands mentality. However, at that point, it is not a significant issue as long as we continue to provide more benefits to the diamond hands, allowing them to drive the narrative. Nevertheless, in terms of the initial holder composition of an NFT project, we considered it essential to prevent such individuals from participating and to secure the momentum to progress to the next stage. Despite the adversities in the market, observing that our project had no dropouts, YBC progressed as we anticipated.

Thirdly, we will discuss the implementation of the value protection mechanism. We believe that even if we operate the project with a focus on diamond hands holders and provide additional benefits, if the value of YBC does not increase and undergo steady upward growth, the project will lose trust within its holder community. This is similar to the investment psychology commonly seen in traditional real estate or stock markets and is considered one of the most crucial factors in project operation. No matter how impressive partnerships may appear on the surface, or how celebrities are recruited, or expensive events are held, if the fundamental value of NFTs remains stagnant or it does not experience consistent upward growth, not only will the general public, but also the holders who have supported us from the beginning will increasingly lose interest. When a major market downturn occurs, these individuals may abandon their assets. YBC is a project that started by devising its own value protection mechanisms and various response strategies for unexpected situations from the beginning. Our unique value protection mechanism will continue to be refined in the future, and the project will always prioritize the protection of holders’ interests.

Phase 1 (2022 Q3, 4, 2023 Q1, 2): Positive Results

⏺ YBC price increased by 800%

⏺ YBC has successfully attracted over 100 elite holders from 10 countries and 13 cities, including individuals from 15 globally recognized companies such as Huobi, Blizzard, TikTok, and Warner Music Group. The community boasts notable holders from top NFT brands like Bored Ape Yacht Club (BAYC), RTFKT (Nike’s NFT), Doodles, Azuki, and Cool Cats. Additionally, executives and founders from 8 blockchain unicorn companies, CEOs from leading startups in the industry, and professionals from 4 different VC/hedge funds who were initial investors in YBC NFTs actively participate. Not a single holder has sold their YBC, supporting the long-term vision.

⏺ YBC Litepaper released (https://docs.youngbirdsclub.com/)

⏺ YBC Proof of Community: YBC community members successfully raised funds for their individual ventures ranging from $50,000 to nearly $500,000 through the support of companies run by other YBC members.

⏺ YBC Alliance initial member composition: 10 alliance members who provide direct assistance and feedback to the YBC project as closely as team members (participation from executives of unicorn companies, traders, renowned VC executives, etc.).

⏺ Team building (3 full-time, 1 advisor, 9 contributors from the United States, Singapore, South Korea, Dubai, and the Philippines.).

⏺ Offline events: YBC Alliance private events, collaboration events, a total of 3 events conducted. *Events exclusively for YBC holders are scheduled for the future.

⏺ $SOAR token* launch plan announced. *further details about $SOAR are included later in the docs

⏺ Community building: YBC Telegram group chat (277 active members), 6 collaborative marketing campaigns with other NFT projects.

Phase 1: Identified Issues

⏺ Development timeline delayed by approximately 5 months compared to the original target.

⏺ Networking among holders did not occur as much as planned.

⏺ Benefits and rewards are still limited.

⏺ Community size is still small.

As we have progressed with the project, we have encountered many issues and identified areas that need further improvement. These issues were partly due to the limited resources in the early stages of YBC, which resulted in insufficient and missed responses. Additionally, the prolonged market downturn has adversely affected overall plans, leading to further delays.

YBC is a long-term project with a minimum timeline of 10 years. As YBC is still in its early stages, we have experienced various trials and errors, and this time we have been influenced to some extent by the market conditions. However, our team's goal is to ensure that holders receive the greatest benefits regardless of market downturns in the long run. Over the past year, through various experiments, we have been able to set higher goals and develop better strategies and execution plans.

Continue reading Part 2 for our next Roadmap.