Kyzen x 0N1 Force Partnership & ITFK Update
The Project Kyzen x 0N1 Force collab is official and we’ve got an update on the SEC settlement and future of the ITFKs.
It’s a sick day for the Project Kyzen and 0N1 Force communities! We’ve announced the mega-collaboration on X Spaces by Tom Bilyeu, the face behind Project Kyzen, and Henry Finn (@starlordyftw), the CEO of 0N1 Force. The Spaces was dope and we’re stoked to welcome the 0N1 Force community into the Project Kyzen family.
0N1 Community can claim their K4M1 mask:
To celebrate this partnership, we’ve got some exclusive loot up for grabs. The 0N1 community can now claim a limited-edition K4M1 Mask and a soul to mint your very own Kyzen avatar, just follow these steps:
- Follow Kyzen on Twitter and join the IT Discord
- Fill out this form before 6 PM (PT) on September 20, 2023 (make sure you connect your wallet that holds your 0N1 Frame NFT)
- Connect to IMX before 12:01 AM (PT) on September 21, 2023
- Look out for the airdrop of your K4M1 Mask and Soul starting on September 22, 2023
- Download Project Kyzen, mint your avatar, and rep your dope K4M1 Mask
- Flex your new look on Twitter using the hashtag #Kyzenx0N1
3ETH LK holders get the Wraith version:
If you held a 3ETH key as of the snapshot on September 13, 2023, and have registered with IMX by September 21, you’ll receive an exclusive Wraith version of the K4M1 Mask!!
Next up:
- Mark your calendars for September 20 for the PK x 0N1 Community hangout on X Spaces, to delve deeper into both projects!
- Gear Up for the Kyzen game world coming in September! Don’t delay Create Yourself and mint your avatar!
- Stay Connected on X, IG and Discord!
Update on the SEC Settlement & ITFKs
Following the SEC settlement and the completion of our undertakings, we are full steam ahead on developing Project Kyzen, Merry Modz, our web comics, our YouTube content and other key initiatives. Our core business remains as robust as ever.
Despite the fact that we are disappointed that the SEC has chosen to broadly question, through the lens of the securities laws, the exciting technical innovations that make digital assets possible, we are satisfied with the outcome, so that we can focus on the future of our slate of products and our business. Additionally, we remain optimistic for the future of our industry, and will do our part to ensure that the United States remains the global home of innovation. For more insight into how the SEC is thinking about the future of digital assets, we encourage you to read the dissenting statement of two Commissioners regarding our settlement. Click here to read the dissent. For the entire SEC Announcement, visit their website.
Next Steps:
While there is still ambiguity in the space, we want everyone in our community to know that we are still hard at work developing our projects including Project Kyzen and the Modz franchise. We are excited to continue operating our go-forward business, consistent with our good faith and best understanding of all applicable laws, rules, and regulations.
Thankfully, because we made the decision not to utilize the vast majority of the revenue generated from the sale of the Founder’s Keys for development, and instead used other capital sources to finance everything, we are able to offer a full refund to all key holders. While the settlement does not obligate us to do that, we want to do this for two reasons.
1. Given the uncertainty that the SEC continues to let linger in the industry, we know some people in our community would like to exit the project.
2. By refunding the Keys and exchanging them for a new free digital asset, we can maximize our ability to continue aggressively developing our slate of projects and engage with our community consistent with our good faith and best understanding of all applicable laws, rules, and regulations. (Full details below).
It is important to us as developers and community leaders to ensure that people understand that any and all digital assets that Impact Theory produces are collectibles with utility within the exciting new landscape of Borderless Entertainment. We will fiercely discourage people from treating our digital assets as anything other than that. They are NOT investment vehicles, they will not deliver payouts, and people should purchase them assuming that their only value is in owning the digital assets. Despite our ongoing development, due to regulatory uncertainty, we will NOT commit to any roadmap (past, present, or future), nor should owners of any of our digital assets, free or paid, consider the assets a promise of future rewards or increasing value.
We remain excited about and committed to telling stories and building games and experiences that delight our community. As long as we’re developing, we will look for ways to use the new, refund-acquired digital asset given in exchange for the Founder’s Key as a way to deepen the community’s emotional engagement with what we create, and to allow us to leverage the power of digital assets to engage our community.
Further Details:
As a part of the settlement undertakings, Impact Theory agreed to destroy any Founder’s Keys in Impact Theory’s direct possession or control, publish notice of the order on its websites and social media channels, and eliminate any royalty that Impact Theory might otherwise receive from future secondary market transactions involving the Founder’s Keys. Impact Theory has now completed these undertakings.
You can also check out Impact Theory’s Press Release on the settlement here, and listen to the recordings of Tom’s Discord AMA and X (Twitter) Spaces.
Founders Key Roadmap and Utility
As of today, everything that the Founder’s Keys currently give you access to remains in effect. Effective immediately, however, the Founders Key roadmap no longer applies. As mentioned above though, we are exploring options to offer a Token to people who participate in a voluntary third refund and return their Founders Keys to Impact Theory to be burned. The community will be kept informed of any updates to roadmap or utility changes before they’re made, but per our terms and conditions, we reserve the right to make changes at any time, including entirely stopping any and all development of any kind.
We have major upcoming releases for both Project Kyzen and Merry Modz before the end of the year, but we want to establish a dynamic with the community where our language around development goals and direction are understood as communication with our most engaged users, not promises of future outcomes. We will share our excitement, we will engage our community and others in the projects that we are creating, but we are focused on the long term positive effects of building things people love — not worrying at all about the floor prices of any of our digital assets.
Founders Key Refund Program
As mentioned above, Impact Theory is offering a voluntary refund to Impact Theory Founders Key holders. This is entirely voluntary, and will be in addition to the separate SEC distribution of $6.1 million to key holders under its own methodology. The details of the refund program will be shared with the community in the coming weeks once the final details have been confirmed.
As another gesture of goodwill, Impact Theory is also offering a voluntary refund of the Merry Modz digital collectibles, even though Merry Modz are not part of the SEC’s order. Impact Theory stands by our products and wants to ensure that our community is happy with their purchases, and if not, are provided the opportunity to get a refund. More information on the Merry Modz refund program will be issued simultaneously with that of the Founders Key program.
New to Kyzen?
It’s easy to get involved — follow these simple steps, and if you’ve got a question, head over to the Wiki or hit a CM up in the Discord!
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