Metasports Co-Founder Acquires Embattled NFT Project Kusho World
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Editor’s Note: An earlier social media post of BitPinas used the word “buy” inappropriately to refer to MetaSports CEO’s acquisition of the local NFT project Kusho. Our graphics for social media posting is constrained to certain length, hence the use of the word. BitPinas regrets this error.
Editing by Nathaniel Cajuday
- Metasports CEO and Co-Founder Joe Josue announced he has acquired the anime-inspired, Filipino-made NFT collection Kusho World.
- Josue made it clear to BitPinas that he, and not his company, the web3 agency Metasports, was responsible for the acquisition. Although Metasports was actively engaged in acquiring and partnering with other companies, projects, and creators at the moment.
- According to Josue, his team managed to secure Kusho’s social and community accounts and the project’s NFT Collection Control and Deployer Wallet.
- The CEO also confirmed that the project’s wallet was not part of the acquisition. But in case the treasury funds will be recovered, Josue assured that holders will decide where they will be used.
- Josue then concluded that he is planning to focus on two things: going “back to basics” and creating “new adventures.”
Gaming and esports media house and agency Metasports founder Joe Josue has successfully acquired the anime-inspired, Filipino-made non-fungible token (NFT) collection Kusho World, he announced on his Twitter account over the weekend.
“Originally one of the most promising PH-born NFT projects, I believe there’s hope to build something new and global from the ruins of the fallen “Shinsekai” (Kusho’s world) and us the abandoned citizens, the “Shojin” (collection holders),” said Josue.
According to the Metasports Chief, after months of attempting to offer advice to the team due to the market downturn as well as attempting to acquire the project, his team was able to salvage what was left of Kusho World.
Kusho World Enters the Scene in 2022
Kusho World entered the scene in 2022, initially aimed to make “great waves in promoting Filipino artistry and enriching the local community about the boundless potential of NFTs.”
In an earlier BitPinas article, founder Yuann Acosta said the biggest utility of Kusho is being a platform in itself. “We want Kusho to vitalize the community and vice versa,” he said.
Part of Kusho’s plans was to offer podcast and webinars especially to artists, whose efforts, Acosta said, are mostly undervalued. “So through NFTs, they believe that creators and consumers will garner high satisfaction from their transactions,” he said.
However, in November 2022, founder Yuan Acosta stepped down from his position, allegedly due to external events, while attributing the market downturn as a key factor.
Metasports founder acquires what’s left of Kusho
Crediting the help of Roikyuu, Kusho’s original outsourced project developer, Josue also announced that the acquisition had managed to secure Kusho’s social and community accounts on Twitter, Discord, Facebook, and Instagram, some of its URLs, except the original domain which was left to expire, and the project’s NFT Collection Control and Deployer Wallet.
Unfortunately, the CEO confirmed that the project’s wallet was not part of the acquisition. But in case the treasury funds will be recovered, Josue assured that holders will decide where they will be used.
What will happen to Kusho’s Project Minka?
Josue also addressed some of Kusho World’s sensitive issues, including Project MINKA and the promised merchandise box for each Kusho holder.
Minka was supposed to be a web and mobile application platform that can be connected to Web3 wallets, based on its litepaper.
- For Project MINKA: The project and its token were abandoned to avoid any legal issues and speculation. Originally, Project MINKA was meant to provide every Kusho holder with 3.0 $MINKA every day, which may be used on their genesis Kusho staking.
- For the promised merch box: The promised merch boxes by the original project owners may still be settled directly with the old core members. To support this, Kusho World’s discord ticket channels will remain available to support fulfillment.
What’s next for Kusho?
Going forward, Josue intends to focus on two things: going “back to basics” and creating “new adventures.” For now, the discord server for the project will go into basic mode.
“I plan over the next month or so to try and uncover what us holders see for the project. I have my personal vision, but hearing the community may help us also for (creating a new adventure)… I welcome the holders community with us on a new journey we are cooking—it’s a vision for now with planned opt-ins for Kusho holders,” he explained.
And to make these plans come to life, Josue concluded that it will take several months to work on by a labs team that he did not name:
“Finally, I don’t know exactly how this will turn out. I don’t advise anyone to purchase from the collection right now. What I do hope for is to help us, the community, discover if we can build some independence and introduce a new adventure I hope holders come to enjoy.”
This article is published on BitPinas: Metasports Founder Acquires Embattled NFT Project Kusho World
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