This article was originally published Saturday 27th 2021 at 9pm UTC for premium subscribers.
Imagine an existing profitable market from the old world disrupted by crypto innovation?
Font marketplaces are about to be disrupted by Font.Community.
What is Font Community?
It is a decentralized font marketplace which uses NFTs and connect Artists, users and investors. Artists design fonts and own them via a unique NFT, which is held on Font.Community. Users buy copies of the NFT and pay the NFT owner. Artists can also sell the NFT they have created to investors willing to collect the sales.
Font.Community aims to disrupt the traditional font marketplace where centralized entities control the market and keep the majority of the revenues generated by these fonts for themselves.
The whitepaper can be accessed, here.
What are Font NFTs?
Font NFTs are much more than Digital Art sitting on a wallet for future price speculation. They are income generating NFTs. Own a font NFT and earn money thanks to license fees.
At a later time, the team behind Font.Community also plans to enable DeFi borrow/lend like functionalities for the font you own. Obviously, if an artist has created a NFT and is willing to sell it, it can be done currently via Opensea, later on Font Community marketplace directly.
Why are we excited about Font NFTs?
While the overall idea behind Font.Community could be seen as boring and not really attractive from an investment point of view, think twice. Yes Digital Art is hot right now, think of Crypto Punks or NFPs for example. But here there is an actual business opportunity; an existing industry will be disrupted by crypto and NFTs. It is the first time we can clearly see something like that. It is not an unclear idea or project, it is already happening.
Font.Community is governed by the FONT token, an ERC20 governance token running on top of Ethereum blockchain.
FONT token holders will have the ability to stake their tokens to get a % of the fees generated by fonts sold and bought on the marketplace.
Half of the total supply will be distributed to artists and users via mining (example: you buy a font, you get some FONT tokens, you design a FONT, you get some FONT tokens, etc.).
FONT current price: $2.81
Max supply: 2,000,000
Circulating supply: 186,406
Current Market cap: $523K
Fully Diluted Market cap: $5.62M
Liquidity: $153K (locked for one year)
Total holders: 190
Twitter followers: 8,695
Why this opportunity exists?
First of all, we would like to say that it is difficult to understand why FONT trades at such an attractive valuation (less than 1M market cap) while their NFTs will generate revenues from the very beginning.
But there are actual reasons for this opportunity: when the token went live last week, the Font website has been DDOS by hackers resulting in a loss of confidence from the token holders. On top of that you can also add some heavy fudders on the telegram chat combined with non existing moderators at that time (now there are moderators which take care to address questions) and on Twitter.
As the project is relatively new and very small it does not take a lot to FUD effectively.
However, we do believe that this opportunity will close soon as:
The team is legit and not anonymous so the risk of rug pull is close to zero.
The full website will be back on Monday.
The Uniswap liquidity is locked for one year.
The project is already in an advanced phase of development as the marketplace shall go live in the end of March 2021 and he first fonts have already been sold on Opensea.
Attention: needless to say, it is a high risk play as the project is still very small and we are yet to see the final version of the marketplace. Don’t put more than you can afford to lose.
Thanks for reading
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