TEA Project Bi-Weekly Report –February 1, 2022

Series A Round Funding Talks

The TEA Project was busy during the entire month of January presenting our project with potential investing partners. We have a unique vision of how we think Web3 will unfold, and showcasing our tech to potential investors allows them to see how the TEA Project fits into the Web3 puzzle. From the perspective of VCs, we are an infrastructure play with a longer maturation timeline than a typical token-based project. We’ve presented to more than 10 venture funds as we seek a $70 million valuation in this next funding round. More interviews are scheduled for February as we move closer to securing our series A funding round before eventually going for a parachain auction slot in the DotSama ecosystem.

AMA and Partnership with Coming.chat

The TEA Project participated in an AMA with Coming.chat on January 24, 2022. Coming.chat is an ideal host for an AMA as their app is a social messaging network allowing users to share information and news. The AMA gave a chance for their users a chance to ask questions and learn more about the TEA Project. The transcript of the AMA is available here.

In addition to the AMA, the TEA Project has begun a partnership with Coming.chat to benefit both platforms.

  • TEA Project mining contestants can earn mini points in the Coming.chat app by purchasing Coming.chat’s TApp token using the TEA browser wallet.
  • The Coming.chat will feature an embedded TEA Project “lite miner.” This will allow their users to earn some TEA tokens doing basic mining. This feature is planned with no current ETA.

Web3 Developer Forum with 499Block Global

Members of the TEA Project team were able to participate in the 499Block Global Web3 developer’s forum held on Twitter.spaces.

https://twitter.com/499BlockGlobal/status/1486576616192966657

The forum had over 200 participants and gave the TEA Project a chance to share how our architecture will make it easier for developers to join Web3. Many projects underestimate the difficulty that developers face migrating their web 2.0 apps to Web3. The TEA Project allows developers to jump right into Web3 as all the usual tiers, from a backend “server” (decentralized TEA nodes) to a database tier, are all available for devs to build around in the TEA Project tech stack.

Epoch 8 Progress

A hard reset of the blockchain was necessary to move from epoch 7 to epoch 8, and we’re happy to report the transition went off without a hitch. All miners are back up and running with all their assets successfully migrated over into the new epoch.

There’s also some very good news to report on the social front: our Telegram and Twitter accounts have tripled in size since the start of epoch 8, with both now above 4500 followers. We’ve also seen increasing interest from Russian speakers which now means we have a new Russian-language Telegram group for Russian users to share information.

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