Arcadia's progress in the first quarter of 2023
This is an update in the project’s progress in this first quarter of 2023. Our plans and focus was in getting feedback abroad since that would be probably more than half our global target market, and once there, look for investors directly in there and incorporate firstly abroad. The year started slow in the investment regard in most foreign markets. OTOH the feedback was so positive and insightful that made us tweak some things from our original plans. And there were also external factors at play, so it was always a changing landscape.
The basic idea was to get the ball rolling on several work fronts that didn’t depend that much on the structuring unknowns at the time, research in the structuring and regulation areas continued and it also served to distill the elements that can help in traction.
- Our first commissioned propertiesWe reached to homeowners with unlisted properties, wary of app and agencies; We sold our idea and focus, they liked it and agreed to let us list their properties on our portal. This validated the core of our local USP, and gave substance to our realty listings portal.
- realty.arcadia.globalDoing a realty listing site without real properties is hard so once we got our first ones we working on finishing the site's content and concept. Interesting forms and other tools like calculators were also developed to support visitors.
- Pioneer ContestWe continued participating in the competition and reached 4th in our región, getting into the top 100 global for a bit. We get very interesting feedback and contacts that have helped us shape the development and keep a delivery routine.
- Reaching investors, angels and VCsFinding investors that fit all our circumstances is hard so most of our reaching has been direct messages custom for every type of Angel or VC. Funding in general has been dry, but we've made nice contacts for later phases of funding.
- Crowdfunding CampaignWe pre-launched a Regulation CF campaign at WeFunder.com once we had the central ideas cristalized and looking at the VC state at the time. Shared to clients that are interested but are new to VC. Focus is finding the lead invstor for now.
- Branding and PrintsWe continued to evolve our branding from the absolute minimal one in which we started. Being a fibonacci based brand is pretty fun to experiment with it and don't expect to have a single branding color or struucture. Some prints have also been developed for local needs.
- Shop, Merch and eCommerce demosA demo shop for selling merchandizing and other products. We also setup payment channle recently available in here like PP business, although Amazon gave us issues setting a shop in there, that slowed the whole idea. Currently disabled while repurposed for a new investment channel.
Besides the main ones due to the impossibility to dedicate full time to the development, and the economic environment. The development of the succession process of the properties I wanted to experiment on was one of the things that influenced the project most, and is not something black or white.
Our original idea was to get funded in order to negotiate buying the family succession rights with a big discount to our investors while validating one of our investment channels. And that scenario is still viable. But once the process started in a court, it’ll take extra steps and it’ll take time and resources from me.
But that circumstance allowed me to not only get acquainted with the actual process, but opened a path for the local outreach phase which was all along planned to start around this time. It grounded that part of the process and some primary functions needed in the local HQ.
Later in the quarter the issue was the evident odd economy and things going on in the Venture Capital industry. We knew from the beggining that we were a bit early for fundraising abroad, but that didn’t prevented to get the attention at the least, in any other economy context we could have been funded. It just seemed no one was, and this was confirmed with what happened by the end of the month in Silicon Valley Bank.
What we are working on now.
The focus for the next quarter is local, the incorporation and the tech. Any other remaining this from the roadmap in our deck will be reviewed too.
- Mobile AppsWe already got an alpha for the android mobile app on our phone. We'll keep working on UI and getting into the market, with little functionality so far. Is our first native app.
- Local incorporationAl research is done is just a matter to commit to the process. Waiting a bit if any local investor wants to hop in.
- General DevelopmentLooking for the talent and start of software development taks besides the Apps.
- DLT testsGoing from research to demos in our pre-selected blockchains. Including applying to grants in the space.
- Follow up the crowdfunding campaignFundraising never stops, and we will continue to reach any angel or VC that fits our idea and particularities.
Starting operations and everything that comes with that will be a nice experience and we are also working on sharing these in a better format. And of course, don’t forget to check our crowdfunding campaign: