Where we go from here

Casino

Let's cut right to the chase and address what everyone has been anticipating for a while now. We’ve used a lot of resources trying to get things to work with the gaming providers that we were put in touch with. From the beginning we were faced with many technical challenges, the promise of the casino being a “plug and play” solution was clearly false, the delays extremely frustrating and the problems that came with their infrastructure became overwhelming for everyone involved.

Upon returning from Switzerland and being faced with more problems from the dev team in regards to payment processing and distribution we soon realized that this wasn’t going to be sustainable if we kept going at this with no guaranteed end in near sight.

On top of this, the markets took a turn for the worst, as you all know. It affected a lot of people across the board, the team we were working with included.

At this point, we were faced with a decision. To reallocate the remaining funds we had to continue further development of everything else we’ve had in store for some time now and scale down on devs and development of casino, or potentially sink more money into the development and issues of a casino that would potentially see far more hurdles going forward. Understand that we did not make this decision lightly and are doing so out of the best interest of the community, and everyone invested in the project. For us to gain some traction again, and move forward, we must progress with everything else that we have had planned for a while now, or risk stagnating further into obscurity. The casino is of utmost importance to us, but we can’t continue to let it stall and delay everything because of it.

What can be done?

While a solution is in place for a guaranteed date for the casino, the only thing required right now is funding for everything to be completed. And while we have been actively seeking funding for development, and speaking to some interested parties, we haven’t come across something that would work out in the long run and discussions were inconclusive.

It is definitely not a “make or break” situation, however, will increase development output at a much faster pace across the board, and would guarantee the Casino to be delivered without any false expectations or failed deadlines much sooner as opposed to later.

Please remember we started this project with a 9k raise that was immediately locked into Liquidity with no real revenue model active yet. Everything we’ve done thus far has come from our own personal funds. We will definitely be seeing this through.

Now, while this may not be the news everyone was expecting nor was it the news I wanted to give, we do have some exciting things to share with everyone for what we have in store for you all going forward. While we did not intend to lay everything out to you all so soon like this, we realize that it’s about time we are more transparent about what we’re working on for the community. Please note that more in-depth articles and details will be released as we come closer to a more formal launch date.

Below listed in more detail are projects that either have been in the works for some time now or have been put on hold due to the shift in focus onto the Casino release. While TALES serves to further expand the Cocktailbar ecosystem, the XYZ marketplace is a project that is near and dear to us that has been in the works for a long time now, while not directly correlated, Cocktailbar members will stand to benefit from the coming launch of the XYZ marketplace through staking rewards and more.

Web3 Metaverse relaunch

As most of you have noticed, we have taken the Metaverse down for now. With not much activity going on within the Metaverse at the time, and the lack of web3 to allow for a more interactive experience, we felt it best to relaunch the Metaverse once we have Web3 enabled. This will unlock the possibility of token gated event hosting and community collaborative efforts, amongst many other things, such as NFT viewing nights, room rentals, and a variety of game nights like scavenger hunts for pooled prizes, etc. to be hosted within the Cocktailbar all adding value to COC.

We also think it could be cool to involve the community in a layout design competition, we feel at the scale we’d like things to be, we’d need to increase the spaces within the metaverse and allow for more engaging areas such as NFT galleries, seating spaces for communities to interact and host gatherings throughout the bar, proper in-world ad space allocation, and whatever else the community can think up! We’d love to get the community more involved going forward and it would be nice to see what you all come up with.

XYZ Marketplace

What is it

XYZ will be the first peer-to-peer NFT platform to be powered by a real-time 3D viewer & editor that enables the creation, interaction & tokenization of web-based, 3D models & VR/AR experiences.

We believe that our real-time 3D viewer & editor will be an evolutionary step in creator-collector engagement as well opening up avenues for 3D creators that before XYZ was not possible to do within the NFT space or on a Web3 level.

Interactive web-based NFTs will take many forms, from dynamic web-based 3D models to fully immersive Virtual reality & Augmented Reality experiences, unlocking much more utility than a standard JPEG, MP4, or GIF-based NFT.

- 100% of the Marketplace fees will go back to users that stake XYZ utility token

Current status

Beta launch (testnet) will happen soon, we will be picking members from the community and start onboarding 3D artists to test our platform over the next couple of weeks, to help better the flow and overall experience of the marketplace. Following this, we will be opening up the Beta test (Tesnet) to the public, before moving on to launch our MainNet!

TALES (of Defi City)

What is it

We explore the lore behind Defi City, telling Tales of the citizens within it. A seasonal-based, limited comic project with a x supply (supply TBD) of upgradable PFP-based characters derived from within the lore. Free to mint for COC holders, with an option to mint more in ETH or burn COC in an equal amount of ETH value to mint more.

- Seasonal NFT Comic Launches (3–4 seasons planned for now)

- x amount of comics mintable (burn to claim physical) (Exact number TBD)

- x comic-based characters mintable in PFP format (Exact number TBD)

- Secondary Sales go to a DAO controlled by COC holders/TALES holders (Allocation TBA)

Current Status

We are currently in the project design phase, and deciding which art direction we’d like to take going forward for the characters. The Lore has been and is still being worked on as we speak, and we’ll be teasing things along the way leading up to a more formal announcement of the project.

PROXIES

Serves as one of the industry’s first mechanisms that will allow holders of a 3D-based NFT collection to modify, and customize the traits of their genesis tokens via the XYZ 3D configurator. Think of any in-game 3D character customization interface, that you will be able to use to upgrade your proxies body, accessories, and wardrobe, while potentially increasing the value of your NFT by combining it with traits that could potentially be more scarce than others

-5,000 Proxies available (Exact numbers TBD)

-Trait store with over 500+ variations of 3D assets (Exact numbers TBD)

-Stake to Earn XYZ Utility token

Current Status

Waiting for the MainNet launch of XYZ Marketplace

Closing words

Please understand that a lot of what you’re seeing has not been finalized, we just felt it best for everyone to get an idea of what’s going on in the background, and what’s to eventually come. A reminder that TALES is an added addition to the Cocktailbar ecosystem and overall utility that has been planned for a while now and is not there to replace the community-owned Casino. The casino, to put it bluntly, is ready aside from the funds that would be needed to guarantee its launch with the new providers, there are many avenues we can explore when it comes to raising.

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