When October first began, our team promised that it would be one of excitement and accomplishment, and even they have been impressed by all that has been happening lately. This has been one of the most exciting weeks yet for the team and the community, so without further delay, let’s get started!
Technology
Last week, the team submitted their first milestone for a grant proposal. The milestone was for the development of the IP Pallets & Standards. These customer Pallets, built using Substrate, allow users to tokenize their ideas by minting their intellectual property files as tokens and storing them as IP Sets. IP Sets represent an idea, and the IP Tokens are the non-fungible components that help to define and support said idea.
To learn more about these custom Pallets, and about intellectual property tokenization by checking out last weeks update, here:
The team waited patiently over the past week (sorta ), eager to know the results of their submission. However, the wait is over. The team has recently been informed that their submission has been accepted! This is big news and means a lot for the project and to the InvArchitects behind it all. Please be patient as further details will be announced in the very near future.
Moving beyond the first milestone, the team is beginning the development of the DEV Pallet. A DEV is an agreement between 2 or more parties to work together in order to actualize an IP Set.
The Pallet_dev is responsible for linking a venture to an IP Set, establishing the roles, terms, milestones, IPO allocations, tracking interactions with an IP Set (including the interview process(es) stored using IPFS and referenced using their CID), and then freezing this information and storing it as an NFT. These NFTs will then be used later and called upon when launching a DEV and establishing the governance structure over a project.
The team is very excited! With the development of the DEV Pallet, users will be able to interact and establish partnerships for projects focused on bringing a bonded IP Set to life! However, this is only the very first in a series of Pallets focused on expanding the utility and providing protection over IP Sets and IP Tokens.
Community
Insane. Unreal. Impossible. Those are just a few words some have used to describe the remarkable growth of the InvArch community. To be specific, the InvArch Discord has grown from just over 500 members a week ago to just under 2,000 members at the time of this article’s publication.
While this growth was a community-wide effort consisting of aspiring and current ambassadors, the team would like to recognize and give a special shoutout to the Senior Ambassadors in the program:
[V-pokere] Antonio#1847 | 210s#1004 | bigunpopka#1565 | chtotodrygoe#2455 | cmalize#8352 | Elektrovenik#6238 | Famich#6124 | Fetalio#7933 | GAGARIN#5263 | jakub#4397 | lewka#9278 | Metamorfozzz#8910 | Miox#0422 | Rinat Ibragimov#1323 | saniksin#7911
The team would like to let the world know how amazing they all have been!
The team also announced the allocation of over $2.5m worth of token rewards being allocated to the InvArch Ambassador Program! If you missed it, you can check out the announcement here:
The InvArch Ambassador Program Announces Over $2.5m In Rewards
Most exciting of all (at least for the team) was the InvArch AMA that took place last Saturday, October 2nd! The team was able to share their vision for the project and had the chance to answer some fantastic questions asked by the community. It was a blast! Check it out if you missed out:
Finances
With the acceptance of the team’s first development milestone, that means that InvArch is officially funded! Which will help with minor operating finances, InvArch OG T-shirts included. The team has also already begun forming partnerships with committed investors who are eager to help support the project and have strong roots throughout the Polkadot ecosystem. They’re excited to share more details in the coming days…
Conclusion
“October is going to be a very defining month for the project, one where InvArch will come out supercharged and ready to grow!”
These were the words shared last week, and they couldn’t have been more fitting for the week that followed. This is just the beginning, though! With 2k members on the horizon, the team hopes to welcome even more members to the community, more partnerships and information are being formed and will be announced, and the true impact of InvArch is only starting to be realized.
The truth is, the party is just getting started.
