Over the last few months since the announcement of Welly we’ve seen some fun clones, ideas about blockchain food, and a myriad of low-key fudders for one reason or another. But one thing we haven’t seen is WHY WELLY.
Welly isn’t just a fast food restaurant, it’s a new way to do business, with plans to move into multiple aspects of the food industry to make sure our project is as automated, food independent, and decentralized as possible. Today I’ll be focusing on the decentralized aspect of Welly and why I believe the Welly team is the right group to get the job done of making this possible.
When Welly was born it was a newer restaurant concept in Naples, Italy renowned for its high quality food. What Welly aimed to become at the time, was a decentralized food chain that utilized Shibarium to track food, and a DAO to make decisions. The concept is a strong one, and one that still hasn’t be duplicated, but what was most interesting is the team! Though I can’t showcase all of the team today, I’d like to showcase a few:
Stefano Guglielmini: Restaurateur, years of experience in the field and several award-winning and successful restaurants, with a great knowledge of business management.
Paolo Pane: Business & Management Bachelor’s degree, Extensive expertise in the restaurant industry, management and development of worldwide known restaurants such as @Sorbillo.
Gianmaria: Law background with a focus on business, marketing, and innovations. Launched two successful businesses IRL in two different industries (sneakers and marketing). Together we decided to start a new adventure and that’s how Welly was born, from the fusion between marketing and the food industry.
Finally we are proud to welcome celebrity chef, Flynn McGarry to be a welcome addition to our restauranters! He’ll be working on a special menu for Welly, just like our community chefs created. Here are some amazing articles about him!
Obsessions: Cooking with Flynn McGarry
They may call it writer's block, but Chef Flynn McGarry will be the first to tell you that any professional can find…
SHIBA IS SHIBA
One thing about Shib is that anyone can burn Shib, accept Shib, use Shibarium without giving anything back to the community and ecosystem. The Welly Team, however, is Shib Army and like other projects out there, wanted to give back to the community to ensure they did their part in burning Shib, and placing funds in a “Shib-Welly Wallet” (which will be a special purpose vehicle) for the overall Shib community to decide what to do with.
With this structure in place we got started on nailing exactly how it works.
SHIBA IS FOOD?
One of the first ideas was to rebrand the face of Welly to Shib. So why not the name? Well, one issue we perceived was naming it Shib or Shibby, might confuse people who would think we serve Shiba Inu (which we obviously don’t). Instead, the decision was to keep the name which represents the true intent, to make food Well, so that customers Eat Well™. In this way, we can hyper localize menus so that it’s vegetarian in the right location, or BBQ in another. This makes each Welly location unique.
Why Italy? Not only is most of the team and first location headquartered in Italy (where they have great reputations in this space), Italy also has a culture and history of being first in food. It also prides itself on locally sourced ingredients which should help with any upcoming shortages that may persist into the next year.
So months later, after working out the details, designing multiple NFT sets, having the community design a burger, getting a WL partnershib with Karafuru, and hiring our first celebrity chef (Flynn Mcgarry!), we are ready to release our WELLY NFT set for the first Welly location(s) to utilize this structure (set to be opened in Milan in 2023 or earlier depending on world conditions). Let’s talk about how the NFT set works so you can decide if you’d like to work with us on this amazing project.
WELLY NFT D.O.G. (Decentralized Organizational Group)
The Decentralized Organizational Group or D.O.G., acts as a special entity within the Welly location(s). This entity (D.O.G. or DOG) works via a set of “Smart Contractors”. These smart contractors have optional DOG membership by holding a Welly NFT that allows us to track members and also gives access to make decisions via the SHIB DOGGY DAO (in a future after beta of course). These decisions will include menu items and changes, suggestions for future locations, and more marketing, or daily operational decisions. Hence you can see the difference between a DAO and a DOG. DAOs are designed to give voting power via a token to a group of individuals decentralizing decisions. DOGs are groups that utilize DAOs to make decisions, while reaping rewards for their work as a decision maker.
Therefore, this is very important to note: THE NFTS ARE NOT DESIGNED TO BE FINANCIAL INSTRUMENTS (neither is this financial advice). Instead, they are membership instruments that act as a smart contract with a particular Welly location (or multiple including ghost locations). For this reason they are priced as low as possible (.12 Eth to start). Furthermore, although this is subject to change, the goal is to reward DOG members ( Welly NFT holders) once every three months (per quarter), and have decisions made via the SHIB BONE (DOGGY) DAO (using Welly NFT as entrance to vote) on monthly proposals or as needed. It may be necessary to lock your Welly NFT to access the DOG membership and as a result, the applicable rewards. This will be determined as the DOG structure is completely built.
It is also important to note that holders that are members of the Welly NFT DOG should DYOR and make sure that they follow all local laws that pertain to decentralized groups and smart contracting. Finally please remember that we are burning 2% NET Profit to Shib, 8% of the location(s) Profit to WELLY NFT DOG and then 15% of NET Profit to a wallet for Shib holders to decide what to do with it. This will be done via the Bone/Doggy DAO at a later time. (UPDATED AND FINALIZED 6.9.22!)
For more details on mint, price and applicable stats, please take a look at the FOOD PAPER or Latest Medium Articles. (Links Below.)
During the most unusual world times, where it seems everything is haywire, seeds are planted into the ripe soil of change. Through the light of our actions (and technologies), the water of a seasoned team, and the love of a decentralized community, fruit will blossom. The fruits of our labor. In the case of Shib, we’ve seen the continued fruit as we slowly grow and set the structure for generations to come. Now, with Welly, we have planted a new seed on the planet, a first! A truly decentralized food chain!
So with that said, EAT WELL and LETS WOOFING GO!