What’s going on with Groovy?
Groovy Finance started with an 8k USD presale with only one promise, to put out NFT vinyl records, we did this. We decided to explore the ways in which we could do more in the space. The idea of the mNFT and cNFT was born and we worked to try and implement this on Ethereum. Gas prices make it unworkable as a means for music distribution. It is not feasible to buy a 1 dollar track for 25 USD when gas is included. The idea of contract creation for crypto investment in music and all contributors getting a fair share is still something we are absolutely exploring. Experiments like Eulerbeats are fun and show the novel implementation of NFTs with a bonding curve but they are for the elite collectors, not the average music buyer. We love these thought experiments and enjoy watching how people try to go about solving the music on the blockchain problem.
So where are we? Groovy in its current state works as a content creator and curator for vinyl NFTs. We put out great music and also meme tracks to keep the space fun. We have started our podcast series and will continue to release music. In a space where everyone is trying to constantly make money at someone else’s expense, please consider why we would make these meme tracks and podcasts which we do not monetise in anyway.
OpenSea now accepts the Groovy ERC20 token and from now on all of our NFTs will only be sold for Groovy.
Our contract creation dapp has no ETA. We would politely like to remind people we didn’t take hundreds of ETH in a presale with huge promises, we fulfilled our original goals already, our website is indicative of what we would like to achieve in the future. The amount of abuse we have been receiving recently is insane, and there needs to be questions asked about this. Insulting the founders and their families, homophobia and racism have absolutely no place in this space. Just because you can hide behind an avatar, if doesn’t mean you can do this. If you think attacking the people who run a project for their love of music is going to make them work faster, you would be incorrect.
All the best.