Taiyo Robotics / Graphite Protocol Token Launch
Taiyo Robotics is a reputable and successful NFT project on Solana, led by the founder Solport Tom.
Taiyo Robotics is raising a seed round for 'Graphite Protocol', which aims to be a Metaplex competitor.
Metaplex builds developer tools for NFTs on Solana and raised $46M last year from Tier 1 VCs, purportedly above a $1B valuation.
Taiyo did about $4.5M in revenue last year, as per Solport Tom.
The Taiyo seed round is for Graphite Token at a fully diluted valuation of $30M (150M max token supply, $0.20 per token, with linear vesting over 20 months. This round has raised ~$1.5M and is closing before the IDO, and is not available to the public.
The IDO will take place on Feb 8 at $0.25 - $50 per token.
Taiyo NFTs will be stakable for this token over a 4-5 year distribution period.
Roughly 25k tokens will be allocated to each Gen 1 Taiyo and ~9k per Gen 2 Taiyo (Taiyo infants).
At a conservative price of $0.25 per token, that's $6250 in rewards for an NFT that currently costs about $4k, though keep in mind it has a long emission timeframe (4-5 years).
This source of yield may lead to an increase in demand for Taiyo NFTs.
The Graphite Protocol token will be used to pay for the services provided by Graphite Protocol.
You can read more about the project here.
Risk: SPL tokens have yet to fetch high valuations without a centralized exchange listing, and there is no confirmation that a CEX listing is line dup at this time.
Risk: Long emission timeframe.
Risk: Low cap play in the Solana ecosystem.