1. Executive summary

A unique link between digital art (NFT) collectors and artists to support real projects together.

Simply, we are building the crowdfunding of web3 governed by you!

• Stitchia is a unique link between NFT collectors, artists, and creators to support bootstrapping ideas into future-proof business models. 
• We sell digital art (NFTs) to ‘stitch’ cool early-stage projects, in order to support sustainable and other cool practices.
• Our main goal is to make a community DAO (Decentralized Autonomous Organization) with a footprint even in the Metaverse – community-driven collaboration network of users, art collectors, creators, and different organizations within a range of industries, where users would interact with each other with a common purpose – build the next generation web3.0 crowdfunding network!
• Through a voting system, the Genesis Stitchia ticket members together with STITCH token holders will govern and collaborate together, in order to select and support the coolest ideas by helping them bootstrap them through the sale of an NFT collection.

       2. The problem Stitchia is solving

The early-stage startup projects often struggle with finding the right access to invaluable information, knowledge, resources, and of course, initial finances, which would help them with initiating their ideas. By being part of Stitchia Network entrepreneurs and creators, together with artists would be able to shape the idea they love through a release of digital collectibles (NFTs), which would help them financially bootstrap and further develop it.

Crowdfunding is a powerful mechanism for innovation and supporting social enterprises. Platforms like Kickstarter and Indiegogo have spearheaded the web 2.0 crowdfunding movement, which has led to the creation of several billion-dollar tech startups and raised millions for thousands for a variety of causes. Through these platforms, online communities have been able to join forces and mobilize resources at an unimaginable speed and scale, but only up to a point. Crowdfunding today is dramatically narrowed by its reliance on legacy finance, which limits the vast majority of the world from accessing it.

The crowdfunding revolution that was started by the internet can now be brought to the next level with blockchain technology, which can dramatically increase the size of the “crowdfunding pie,” and lead to an unimaginable impact on lives all around the globe. And that’s why we believe Stitchia could make a difference by bringing in a new crowdfunding model based on NFTs functionalities.

This tight reliance on legacy financial infrastructure has made some crowdfunding platforms move to a so-called web3.0 model. For example, Kickstarter has decided to move from its reliance on Stripe as a payment provider to creating its own crowdfunding protocol on other blockchains. This may make sense for equity-based crowdfunding in the future, which can enable such platforms and others to invest in new companies and their ideas.

In addition, sustainable projects are quite often seen as unprofitable in the short-term, or not necessarily “interesting” enough to be backed and developed by traditional financing. That’s why at Stitchia Network our main focus is to support such early-stage ideas and startups through the distribution and sales of different digital art collections, in order to help them hit the ground running.

For example, the famous artist Christo was selling his very own physical art in order to fund his real-life project installations. He has never relied on any commercial sponsorships or financial endorsements, simply because he always wanted to stay completely independent in how he wanted to do his work.

This model resonated so well with us, that we have decided to embed and bridge this into a future-proof decentralized crowdfunding network in the making, where members would govern, manage and contribute to all ideas and projects in the pipeline to-be-created and listed on the Stitchia Network. 

By releasing our Genesis Stitchia tickets we want to create and form our core community DAO members list. The funds generated from this sale will be used transparently towards building and developing the core functionality of the DAO, the NFT core features, and functionalities, as well as our future STITCH governance token model.

In such a way at Q2 2022 we plan to roll out our Stitchia Network v1.0 core functionality, where our core NFT ticket holders community (Genesis ticket owners and the STITCH governance token holders – once available) will collaborate on, vote, and bootstrap new ideas through a decentralized selection and governance DAO model on all project applications listed on our Network. 

Therefore in order to tangibly progress with our goals, we have decided to start our journey with a private Stitchia Network NFT Genesis Tickets sale, aiming from one side to build our core community of network members, but also to raise the necessary funding needed for us to build the initial version of the platform and its functionality

  3. Quick market figures

Today NFT Sales Surge to $43 Billion in Q4 2021

Possibility to hit 1 Trillion of sales in 2022. (23x)

    

4. Genesis StitchiaDAO NFT Tickets

1111 Genesis Stitchia tickets were made for our core community members – to make it strong, reliable, and inclusive in the further development plans of Stitchia Network DAO. There will be no future plans to release more Genesis tickets. By owning a Genesis ticket you become a governing member of Stitchia Network DAO and gain an early-stage access to the following features:

1. FREE NFT drops ((Diamond and Gold, and some for Silver members) of the first Stitchia Network bootstrapping project called Fashion Cats Club;
2. Guaranteed allocation of the upcoming Mints of future NFTs projects;
3. Stitchia DAO governance through Senior Voting Power (SVP);
4. STITCH Governance Token airdrop (upon release Q3/Q4 2022);
5. Premium access to our future dApps through owning their NFT;
6. Extra Staking Power Yield of STITCH token;
7. Premium chat channels for new early-stage project announcements.

3 TIERS OF THE STITCHA NETWORK GENESIS TICKETS

Tailors (Diamond members) – 111 tickets

• Exclusive access to initial RARE NFT drop of the first Stitchia Network’s project called The Fashion Cats Club
• Guaranteed allocation of the upcoming Mints of future NFTs projects
• Staking of STITCH Tokens (Q3/Q4 2022) – Extra Yield Power + 10%
• Stitchia Network DAO Governance through Senior Voting Power – 100 SVPs = 10 000 STITCH Token Holder as a voting power
• Proposition of a project to the network available
• Premium “Tailors” collaboration channels for new early-stage project announcements, network governance, and collaboration pools 

Makers (Gold members) – 300 tickets

• Exclusive access to initial RARE NFT drop of the first Stitchia Network’s project called The Fashion Cats Club
• Guaranteed allocation of the upcoming Mints of future NFTs projects
• Staking of STITCH Tokens (Q3/Q4 2022) – Extra Yield Power + 5%
• Stitchia Network DAO Governance through Senior Voting Power – 50 SVP = 5 000 STITCH Token Holder as a voting power
• The proposition of a project to the network available
• Premium “Makers” collaboration channels for new early-stage project announcements, network governance, and collaboration pools 

Cutters (Silver members) – 700 tickets

• Exclusive access to the initial NFT drop of the first Stitchia Network’s project called The Fashion Cats Club for a random list of 100 “Cutters” members
• Guaranteed allocation of the upcoming Mints of future NFTs projects
• Stitchia Network DAO Governance through Senior Voting Power – 25 (SVP) = 2 500 STITCH TOKEN 
• Proposition of a project to the network available
• Premium “Cutters” collaboration channels for upcoming projects releases, network governance, and collaboration pools

5. The STITCH Token

As decentralized protocols continue to proliferate and evolve, the need to refine the decision-making processes around them is critical. On-chain governance allows all stakeholders to collaborate, debate, and vote on how to manage the system. Governance tokens fuel blockchain-based voting systems, as they are often used to signal support for proposed changes and to vote on new proposals. In the Stitchia Network, the governance token is called STITCH.

Stitchia Network aims to provide value to members in different ways. By staking STITCH token users would get exclusive access not only to our decentralized network and voting mechanisms, but also to all our future products and services on it. Some of the key features of STITCH are listed below:

• Voting Power on Stitchia Network’s governance and future DAO development. For example – 2 500 STITCH tokens = 1 Genesis “Cutters” Owner
• Defi functionality – Staking, LP, and more to be added
• Exclusive access to Stitchia’s and external partner’s DAPPS

Disclaimer: STITCH tokens should not be considered as money or means of investment, but rather a governance token that can be used to vote on decisions that influence our ecosystem.

6. What is a Governance token and how does voting and governance work?

Governance tokens in general are blockchain tokens that grant voting and management power to their holders. They are really important in any decentralized/blockchain environment where there is a requirement for power balance or public governance. Through governance tokens, you can vote on proposals that are related and relevant for the specific network. 

Our STITCH governance token would ensure that the voices of all our token holders are heard while making decisions related to the development and management of Stitchia Network DAO. 

Furthermore, STITCH governance token would influence new project listings and their roadmap, along with critical features. You can also use it to vote on any internal DAO patches and updates as well as future developments of the network and its applications.

We strongly believe that embedding a STITCH governance token into our model would pave the way for greater collaboration between its core DAO community of the Genesis Ticket holders and all STITCH token holders who’d be able to get involved in the project and help engineers in the decision-making process. For example, you can decide on future projects and NFT listings, code changes and every management/organization changes through these tokens. 

Abstract: STITCH Governance tokens aren’t mined the same way normal cryptocurrencies are mined. Instead, our co-founders would privately distribute one portion to our core community members (aproox 5% of total supply, based on Genesis tickets membership tier allocations first), 5% would be distributed between the core team members, 30% would be released in a pre-seed/seed private/public round with a steady unlocking period time (100 weeks), 10% would be reserved for future partnerships, 30% to be reserved for DAO staking rewards and other DeFi products, and 20% to be allocated to DAO reserve/treasury. 

The above chart represents a view on our STITCH token distribution model. Complete tokenomics TBC by end of Q1 2022 based on a total of 100M STITCH token supply and taking into consideration the following ratios:

1 Senior Voting Point (SVP) = 10 Voting Points (VPs)

1 Stitch Token – 1 Voting Point (VP)

• STITCH is entirely a governance token and would serve no further utility or security, but to govern Stitchia Network DAO
• The token has a capped supply of 100,000,000 STITCH
• Core team and investor tokens are vested over a period of 100 weeks through a smart contract functionality, unlocking 1% of their tokens each and every week. 

7. Stitchia Network’s Business and Operating model

7.1. Business model

•  Artists and Creators (Sustainability practices)

The “Christo” Model – to simply support the artist to sustain his/her work of making physical art through the sale of digital collectables (NFT). In this model we are planning a fair, transparent and straightforward way of interacting where all generated revenue from sales would be distributed as follows: 95% of sales would go for the artist/creator and 5% to the StitchiaDAO (where 1% would go to DAO Treasury and 4% to development and admin).

• Use case 1:

An artist/creator is coming to Stitchia (via Genesis ticket owner endorsement or STITCH token backer proposal) with her/his idea to develop/sustain her/his art or sustainable practice:

• Fill in a pre-approval request form with basic details (if coming from outside channels); 
• Core team and at least one Ticket holder should endorse/like;
• Fill in an application form for Network Vote (Accept or not);
• Project inception – Minting & listing;
• Sale on Stitchia Marketplace;
• Share profit: 95% for the artist’s idea, 4% Stitchia Network and 1% StitchiaDAO Treasury.

• Relocation of funds to the artist/creator would be delivered in phases, based on pre-agreed deliverables/milestones proposed by the artist/creator (TBC).

Let’s make an example:

An artist named John who makes sculptures has some really cool new ideas to make a new bronze sculpture(s) but needs money. He has drawings of his sculpture(s) and even some “dummies” prototype(s) for some of them. John wants to use Stitchia Network to back up and support his idea by selling his drawings/images of it as an NFT collection. He fills in a pre-approval request form (with a brief review on him and his work) which is being listed on an endorsement que for review firstly by the core team of Stitchia Network, but also to the existing Genesis ticket community – entire pre-approval and endorsement process to be fully decentralized by the StitchiaDAO.

Once the core team and least one StitchiaDAO member (Genesis ticket owners) endorse/like the idea, John is being granted with an approval and process moves into an inceptions stage, where core team, alongside StitchiaDAO endorser(s) support John to submit an application form for network’s approval by at least 51% of votes. Alternatively, he could even purchase a Genesis ticket (if they are still available on stitchia.network) and list pre-approval request form and endorse the idea by himself.

Let’s assume his idea is already being endorsed and approved and it moves into the inception stage, where the team of Stitchia alongside endorser(s) would shape and plan technical and design work needed, alongside marketing campaign and minting process (firstly minted directly on Stitchia Network marketplace and later in OpenSea for resale for example). John as an artist would also keep getting royalties of 2.5% (negotiable) on each and every resale that incurs afterward. For comparison, Opensea has an additional flat 2.5% platform fee, whilst at Stitchia we envisage only a 1% fee, dedicated directly to the StitchiaDAO Treasury.

The sculpture collection of 1,000 NFTs are minted. Free airdrop to the Tailors and guaranteed allocation for the Makers and 100 of Cutters. The rest (489) would be left for the public to mint.

Let’s draw a line where the funds are collected – $200,000 – from which $190,000 (95%) goes to John’s bronze sculpture(s) creation initiative, and he would receive the funds in phases directly in crypto (ETH or MATIC), based on the pre-agreed deliverables/milestones proposed by him in the application form. Whilst the remaining 5% would be split into – 4% to the team involved (core team and endorser(s)/backer) and 1% dedicated to StitchiaDAO treasury.

•  Entrepreneurs/Startups

The cool idea/project incubator model, where entrepreneurs and early-stage startups come to Stitchia for bootstrapping their ideas. In this model we are also planning to bring in a fair, transparent, and straightforward way of interacting where most of the collected funds – 80% would go to realize the idea/project; 10% would go to the developers and artists who helped the realization of the project; 5% for supporting the STITCHIA NETWORK further development, and 5% to our DAO Treasury.

• Use case 2:

An entrepreneur or a startup is approaching Stitchia (via Genesis ticket owner endorsement or STITCH token backer proposal) with their idea to create and develop their idea or sustainable practice/product:

• Fill in a pre-approval request form with basic details (if coming from outside channels); 
• The core team and at least one Ticket holder should endorse/like;
• Fill in an application form for Network Vote (Accept or not);
• Project inception – basic model, org. structure and team involved
• Minting & listing;
• Sale on Stitchia Marketplace;
• Share profit: 80% for the project’s idea, 5% Stitchia Network and 5% StitchiaDAO Treasury, 10 % for the developers and artist supporters.

• Relocation of funds to the artist/creator would be delivered in phases, based on pre agreed deliverables/milestones (TBC).

Use case example: 

theGenuine app and collaboration platform – A sustainable fashion education app based on a Play-to-Learn-and-Earn mode, and a professional blockchain-based collaboration platform.

Team behind “theGenuine” concept came to us with their idea in the early days of Stitchia, and we fell in love with it from first sight. The more they’ve been telling us the more it sounded like the perfect match for our first bootstrapping startup use case. Everything they’ve told us about the industry, it’s pitfalls and challenges, the status quo, and the rising interest and attention towards sustainability helped us shape and come up with the NFT collection concept and the whole story behind The Fashion Cats Club.

During the inception phase, we have engaged with a larger team of industry professionals, having decades of experience in designing, crafting, developing, managing, and educating sustainable and profitable practices in the fields of sustainable fashion, ethical manufacturing, and product lifecycle management. 

From one hand, through innovative and fun new methods (gaming, quizzing) the end-users of theGenuine dApp would learn and gain knowledge by watching, playing, and interacting with a variety of content and experts in different fields of sustainable fashion and ethical manufacturing. 

On the other hand, we plan to extend functionality by developing a professional collaboration platform, where creators/designers/brands would directly engage and collaborate with a variety of peers (experts, suppliers, and professional organizations) further to develop their ideas into real products. 

By owning a Fashion Cat makes you an exclusive owner of the first project released on Stitchia Network, which has several benefits:

• Be an integral part of theGenuine (Sustainable Fashion) education app and collaboration platform;
• Receive passively STITCH tokens (through locking the NFT);
• Be an active part of the Community-driven development in the early stages of the Sustainable Fashion Industry;
• Be an owner of a unique NFT art as well as a stake in theGenuine app;
• Have an early-stage full access to a unique business collaboration model in the sustainable fashion industry;

Be an early adopter of a Play-to-Learn-and-Earn educational model embedded in theGenuine end-user app. 

7.2. Operating model

Any Genesis Stitchia Ticket owner or a holder of at least 5 000 STITCH tokens can propose a project by filling in a basic application form (TBC).

1. Firstly, core team members of Stitchia will pre-approve the projects, only until the full version of Stitchia Network is live, when the entire process will be decentralized and governed by the Stitchia DAO members (all the genesis ticket owners and holders of a min of 5 000 STITCH tokens).
2. After a project is pre-approved it will be implemented in the Stitchia Network for community voting. For voting to be successful at least 51% of the 1111 ticket owners should actively vote for the pre-approved project and then for a project to win participation in the network, should gain at least 51% of the actively participated votes.
3. When a project is approved by the network – an nft collection is created from a pre-approved artist by the Stitchia members initially and later by STITCHIA DAO. 
4. Stitchia team is preparing the mint of the tickets and the marketing of the upcoming private and public sale. Remember that the Makers, Tailors, and randomly selected 100 Cutters will receive a guaranteed allocation of minting on every approved project’s NFT collection.
5. By holding the project’s NFT a user supports the idea behind the projects and could benefit from the popularity of the project and would have exclusive access to the project and possible airdrops throughout their project’s NFTs.
6. The progress of the particular NFT collection sale would be tracked transparently and fairly processed. For example, our current plans are most of the collected funds – 80% would go to realize the project; 10% would go to the developers and artists who helped the realization of the project; 5% for supporting the STITCHIA NETWORK further and current development, and 5% to our Treasury, which funds would be used for bug bounties and giveaways and free airdrops.

7.3. Stitchia Network’s user segregation

7.3.1.Community & Backers (Genesis ticket owners and STITCH token holders)

All our DAO members and token holders would be the driving force behind every decision made on Stitchia Network.

7.3.2.Artists & Creators (digital, physical art, nonprofit)

A fair and straightforward digital art sale initiative, where different artists and creators would list and sell their art on the platform. The artists/creators would get 95% of the amount, whilst the remaining 5% would be dedicated to Stitchia Network. 

7.3.3.Entrepreneurs & Startups (sustainable practices and cool ideas)

The progress of the entire process on the particular NFT collection sale would be tracked transparently and fairly processed, where funds would be distributed in phases and based on deliverables.

Current plans are most of the collected funds – 80% would go to realize the project; 10% would go to the developers and artists who helped the realization of the project; 5% for supporting the STITCHIA NETWORK further development, and 5% to StitchiaDAO Treasury.

8. How will we use the funds?

• We aim to raise the necessary funding needed for us to start developing the DAO and its features, the NFT staking, and its rewards-based mechanism.
• The STITCH governance token and its Defi functionalities.
• Cover operations and admin costs for our team, incl. registering a company, with all licenses and legal documents required.
• Everything will be transparently presented to our community and information on how we use these funds would be shared accordingly. No rug-pulls, no running, we are here to stay and develop the future of web3.0 crowdfunding!

9. The first use case 

9.1. theGenuine app and collaboration platform

A sustainable fashion education app based on a Play-to-Learn-and-Earn mode, and a professional blockchain-based collaboration platform.

The story behind the Fashion Cats Club

In the Cat’s fashion world, there was always a competition for the coolest style and the best dressed. All the cats hurried to improve their outlook, they would change their fit every day to keep up with the trends, sometimes twice a day. And clothes were never enough, the new ones would quickly become the old ones. In fact, they were taking so much space, that the right decision was to resell them for a smaller price or even throw them away. The madness would inevitably continue escalating, until one day it had reached a peak and no cat could keep up anymore!

Being the best dressed, wearing the newest collections finally began to feel unfulfilling and boring. Designers went depressed, uninspired, and exhausted. So what started seeming attractive, and perhaps the only way forward, was wearing something that looks cool, would remain in trends forever, and will last a lifetime. 

Additionally, buying rare and cool clothes was a sustainable choice. Instead of buying a lot of cheap clothes. The trend became to wear rare, sustainable cool clothes! So, the cats in the fashion industry united in a mission called the Fashion Cats Club, where the competition is who will wear a rare and the highest quality slow fashion outfit. But still looking cool…

In order to achieve this goal, we have engaged with a team of industry professionals, having decades of experience in designing, crafting, developing, managing and educating sustainable and profitable practices in the fields of sustainable fashion, ethical manufacturing, and product lifecycle management. 

Through innovative and fun new methods (gaming, quizzing) our end users would learn and gain knowledge by watching, playing and interacting with a variety of content and experts in different fields of sustainable fashion and ethical manufacturing. 

In addition, we plan to extend functionality by developing a professional collaboration platform, where creators would directly engage and collaborate with these experts, suppliers, and professional organizations further to develop their ideas into real products. 

Owning a Fashion Cat makes you an exclusive owner of the first project released on Stitchia Network, which has several benefits:

• Be an integral part of theGenuine (Sustainable Fashion) education app and collaboration platform;
• Receive passively STITCH tokens (through locking the NFT);
• Be an active part of the Community-driven development in the early stages of the Sustainable Fashion Industry;
• Be an owner of a unique NFT art as well as a stake in theGenuine app;
• Have an early-stage full access to a unique business collaboration model in the sustainable fashion industry;
• Be an early adopter of a Play-to-Learn-and-Earn educational model embedded in theGenuine end-user app.

10. Core Team

Borislav Yordanov – CEO & Co-Founder

Anton Christoff – CSO & Co-Founder

Gloria Dimitrova – Chief of Design

Dragomir Mihaylov – Marketing Lead

Dmitrii Limonov – Senior Blockchain dev

11. Website Contact us form and Socials details.

References:

https://bitcoinmagazine.com/business/crowdfunding-is-broken-bitcoin-fixes-i