November 3, 2022
Lily Tong

An overview of NELO's future plans fom NELO: Update Announcement

A new journey begins New Journey, New Challenge

Hi, NELO supporters! 

NELO is back after these turbulent days, and you guys must have a lot of questions for the team to answer.

Below is the basic information that the core team wants to send to you, and hope everyone will accept it and continue to accompany NELO! 

About NELO

From the beginning, NELO was not a community project, which means all monthly costs, including NSC development ($75k), Neloverse development ($50k), NSC servers hosting ($5k), Cloudflare enterprise ($5k), and staff team operations ($15k), are primarily paid by private investors, Walter and Pat. 

As a result, they are the decision makers, and all decisions are aimed at ensuring that the projects continue to survive in such a global bear market. Every effort is made by the core team to develop long-term value for NELO and safeguard investor rights.

About NSC

NELO Smart Chain (NSC) is a Layer-2 Blockchain specifically designed for gaming. NELO is distinctive since it was developed with an emphasis on game design. NSC has unique, admirable qualities, and its commitment to building a robust environment for users.

Besides, the key to making NSC great and completing its objective is to continually be innovative and creative. The development team continuously assesses the ecosystem's performance and its effectiveness in order to improve and usher in a new era.

For NSC, the founder team had been talked with many VCs and commented that NSC won’t able to get VC Fund because of the following statements: 

  • While $NELO has already been listed in the market, VCs are mostly interested in investment for seed/angel rounds to maximize profits.
  • Currently, NSC is lacking some essential components that would allow it to reach its full potential. There are no robust developer communities, no projects with traction, and no ecosystems.

These difficulties present NSC with the chance to take stock of the situation and make necessary adjustments.

Through the research, the NELO team realized there are shortcomings in resource allocation for ecosystem development and decided to rebrand. The new NSC tokenomics will start to publicize on the Nelo website and whitepaper on December 22. The team is in the progress of reaching out to projects and developers for building an ecosystem in Testnet. 

About Neloverse 

In the current phase, Neloverse is an independent project that is presently forming partnerships with various gaming platforms to expand gaming features. NELO is one of the backers in the Seed round of Neloverse new tokenomics. 

In addition, all existing BSC Nelo holders' addresses will be added to the Seed round of new NSC tokenomics, and holders' information will be snapshotted without announcement. Price of the seed round will be 0.0001 and IDO price is 0.001. 

The new NSC tokenomic will be released in the upcoming days, and the NELO team eagerly anticipate hearing from the community. Every feedback from you is appreciated to co-build project ecosystems. 

Thank you all for your support and understanding of NELO from the start, and let's shape the future of gaming!