🤩1.1. The Pivot

The first version of this QR Paper was written and published in April 2023. This paper described the business plans for development and innovations in QR code technology, as well as the community-focused interactive storyline and associated community wallet. Many of the plans were focused on raising a specific amount of revenue related in our main NFT collection’s sale, which commenced in October 2023. Due to a range of reasons (largely the state of the NFT ecosystem at the time), the sale did not meet expectations and the funds raised were not sufficient to support the plans in that QR Paper.

As such, the team decided to refund all costs to those who minted the NFTs in the Pareidolia’s Locations collection, and relaunched the mint at 10% of the original cost (150 ADA down to 15 ADA). This 15 ADA price is divided in the following way:

· 6 ADA for blockchain fees (related to the cip-68 mint of these NFTs).

· 2 ADA to the minting service.

· 3 ADA to our artist.

· 4 ADA to a giveaway wallet

With this pivot, the core team agreed not to receive any income from the mint. All outstanding costs and expenses for the project were funded personally by founding team members, as are all ongoing costs for the project. This is the primary commitment that the founders have towards the project. This is how the team saw the path moving forward, and we felt it was an important (while difficult) decision to make.

With the changing financial situation for QRdano following these changes to the mint of the main NFT collection, some changes were necessary for the ongoing plans. These changes are necessary for the ongoing progress and continuation of the project, while still allowing for financial viability, as well as community enjoyment and engagement. The following QR Paper outlines the current plans for the project following this pivot.