<aside> 💡 Objective: Set organizational context for Goblin Sax

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Originally, this post was meant to help decide & prioritize partnerships and product directions for Goblin Sax, so that we can stay focused & execute well.

However, I soon realized that we would need to set organizational context for Goblin Sax (i.e. what’ve we done) before we can decide the path forward (in integrations, product, portfolio, etc.).

Note: This was meant to help set the organizational context for myself at Goblin Sax. I believe this will be useful for new & existing contributors to understand where we are now and what’s next.

Looking back: Season 0

In Season 0, Goblin Sax was an experiment to make NFT collateralized loans to NFT holders (end users) using the NFTfi platform.

We can break down the value flow in the following areas:

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# Value Stage What happens here? State of the DAO
1 Channels Interfaces directly with the end-user (NFT holder) We only use NFTfi Front End + Manual Outreach to reach NFT holders
2 Loan Escrow Executes & settles the loan on-chain NFTfi Contracts only.
3 GS Product & Operations Everything that we do to have liquidity, underwrite a loan, make loans, etc. We have a pricing product & loans bot that makes loans on NFTfi
4 Back Office Partners Everything that we do to achieve our back office functions (TBD) We sell defaulted NFTs on NFT marketplaces

With the above value flows, we have raised >200 ETH from our community, achieving a 14% annualized ROI after issuing >200 loans. Beyond the above, we have also:

  1. Started a podcast
  2. Researched options pricing models

Today: Kicking off the DAO till YE 22

Today, Goblin Sax has completed an operational raise of $1.5M to transition from a NFT hedge fund into a product organization with product-market fit.

What is product-market fit for GS?

Given the early & dynamic landscape of NFT finance, it is unlikely that we know what Goblin Sax looks like in the long run. In the short run, we can execute and iterate on our S0 progress, enhancing our lending volume on the settlement layer and bringing NFT finance to the end-user through integrations.