Hi, I'm the founder of @FungoLabs .
I've been behind this project for months, but I never stepped forward. I wanted the work to speak first. Today, I feel I should speak to you from my own account. You deserve to see someone stand behind this on the hard days, not just the good ones.
I led the development from start to finish, together with my teammates. Every line of the infrastructure that makes encrypted NFTs possible on Ethereum carries our work. The decision not to complete the auction today is my responsibility too.
Every bidder's full bid amount and every whitelist minter's payment will be refunded.
I'll process the refunds myself right now.
Thank you for believing in us and giving us your time. I'm sorry we couldn't meet your expectations.
We're not stopping here. We'll keep building.
An update on the Fungo Genesis auction:
We are issuing a total of $84,150 in refunds.
Today, we did not reach the level of participation we were aiming for, and rather than reduce the supply, we have decided not to complete the auction.
This is not an easy message to write. For months, we have put everything into building the infrastructure needed to make encrypted NFTs possible on Ethereum. But the level of participation we saw today was not enough for us to move forward with the sale as planned.
Throughout development, the Zama team provided technical support and helped us build the best system we could deliver today. This does not mean Zama stands behind or endorses our project. FungoLabs is an independent project building in the Zama ecosystem, and all decisions are our own.
The numbers we shared throughout this journey were real. More than 3,000 projects applied to our launchpad, over 12,000 people joined our X campaign, and we received more than 30,000 whitelist applications. We will share a separate breakdown of these numbers soon.
We also want to be transparent about one thing: projects like this cannot run on excitement alone. Infrastructure, servers, onchain activity, and the work of the team all come with real costs. Without enough support, carrying that load is simply not sustainable.
Any payments made by whitelist minters, along with the full amount of every bid, will be refunded. Refunds will be sent directly from the project treasury to your wallets. You do not need to take any action.
Thank you to everyone who gave us their time, believed in what we were building, and supported us throughout this journey. We are sorry we could not meet your expectations.
This is not the end.
We will keep building on Zama.
They are being refunded by system.
Min %50 - max %99 refund.
you talk just for pennys.
Also Pennys not coming to us don't worry :)
you will get half refund automatically.
there is fee for encrypted operations.
There is cost and its explanations exist on mint page.
Its minimum 1 hour for genesis holders.
creator can only rise it. can't decrease
assume supply 10k . minimum 300 maximum 2k genesis holders will get gtd ( free ) from launches
those spots are chosen by FHE ( zama secured ) between genesis holders.
We’re ready 🙌
→ The launchpad is open to everyone
→ Set up your studio
→ Create a “New drop”, launch your collection and step into the world’s first encrypted NFT ecosystem
+ You can create your own token, bound to your NFTs
Let the games begin. 👊
Send us your feedback
FungoLabs Launchpad is live! 🟨
Any studio can now launch its own encrypted NFT collection on Ethereum, built with FHE on Zama.
What does owning a Fungo Genesis NFT get you? 👇
→ Every drop from every independent studio on FungoLabs: 30% of the platform’s share goes to Genesis holders, including mints and auctions. If a studio generates 1 ETH in sales → 0.045 ETH goes to Genesis.
→ Secondary market royalties: 30% of the platform’s royalty share goes to Genesis holders. 1 ETH in royalties -> 0.045 ETH goes to Genesis.
→ Genesis holders always get first access to mint. Every drop reserves 3–20% of its supply for free mints to Genesis holders. For a 1,000 NFT collection, that means 30 to 200 free mints. Which Genesis NFTs receive them is selected using FHE randomness.
→ Every drop token: 5% of the supply goes to Genesis holders.
→ Every token pool: 6% of trading fees goes to Genesis holders.
→ Launch your own collection with zero platform fees and create drops every day.
All rewards are split equally across Genesis NFTs and can be claimed from your vault.
fungolabs.org/launchpad
We didn’t build the world NFTs were always meant to reach just to let it die.
Coming soon 👀
@FungoLabs
While 1 seconds left to auction open market crashed and gwei ran up to 13. Bad bad luck. But life goes on. Keeping build still.