$OPEN — State of the Market — Jun 2022

  • $0.030 served as the long-term bottom. $0.042–0.046 is the current trading band. $0.055 will be the next area to look for.
  • Liquidity pool increased from $55K to $70K in May.
  • Seed Round private placement is happening.
  • OpenWorld prototype is being launched on Harmony Testnet on June 6th.
  • OpenWorld DAO is being constructed.
  • Advisory Team is being assembled.
  • OPEN increased 35% from $0.034 to $0.047 in May.
  • Liquidity Pool increase from as low as $55K to $70K+.
  • $0.030 proved to be a long-term bottom. I don’t see we go back to this level any time soon (or any more).
  • $0.055 will be the next target for the price, represent Fibonacci 1x extension from $0.035, replicating the price move from $0.029 to $0.048. $0.055 is also support back in Nov/Dec-2021 now turned resistance.
  • $0.042-$0.046 is the current key resistance zone.
  • 8M $OPEN is still locked at 260-Day Bond.
  • Seed Round private placement is happening.
  • Committed Capital: $90K
  • Market sentiment is much weaker than expected with $LUNA meltdown as well as overall crypto bearish market.
  • With new credit cycle kick in (high inflation, interest rate rising), financial assets across the board will face challenges to maintain high priced. Though this is not effecting $OPEN directly thanks to its reasonable price. This does effect investors sentiment in private placement decision.
  • OPEN’s Seed Round will shift to not a single-time event, but might be a series of small checks through months toward the very beginning of Series A.
  • Budget wise, we can sustain the next 12 months under current budget.
  • Seed Round private placement term in a nutshell: 30% discount on lockup 12 month (there is 10% discount on 6 month lockup option). 60% coverage. Fund usage: (1) Deepening the liquidity pool, and (2) Product building toward Series A in the next 6–9 months.
  • CryptoWar xBlade mini game comes to the full stop on June 6th with OpenWorld prototype is launched on Harmony’s Testnet on the same day.
  • For governance development, OpenWorld will build an OpenWorld DAO, acting as Board of Directors to steer the project and decide on the most important decisions such as: Strategy, capital raise, product development direction, budgeting, top management compensation, and other decisions that represent tokenholders interest in managing the execution team of OpenWorld.
  • OpenWorld DAO will consist of key top management members, representative of angels investors, representative of institutional investors, and independent DAO members.
  • In the future, some decisions will be expanded down to voting mechanism. Any wallet have more than 100K OPEN will be able to vote on these decisions. Making some of the most important decisions about the project truly decentralized to the token holders.
  • We are also in the process of building an Advisory Team for OpenWorld.
  • As a project got $50K grant from Harmony, we regularly update our development here: https://talk.harmony.one/t/openworld-metaverse/15432/20
  • For general project info and data, it is here: https://linktr.ee/openworld

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OpenWorld

OpenWorld

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A blockchain enabled cross-platform, multi-chain & distinct metaverse world