Before now, space travel has remained within the playground of the rich and famous. With the rise of Web3 technologies, that will change in less than a decade!
The Bad Astro Society is leveraging NFTs to make this possible!
With the recent rise in several private initiatives to make space tourism a reality, the society has projected to enable everyday people to afford tickets beyond earth’s borders.
Charlton Haupt, the Founder at Bad Astro Society has a vision he shared with us regarding this.
Here’s the interview….
Charlton Haupt, Founder at Bad Astro Society
Please, can you tell us about the Bad Astro Society?
We are a community full of the crazy ones, the crypto believers, the brand builders, the partiers, and above all else, the trendsetting misfits who refuse to be bound by the imaginations of others.
My brother and I have always wanted to be in business together but never found the right fit. Ever since we were kids we have wanted to go to space and have loved a good adrenaline rush, but time passes, and you grow up and have responsibilities you need to take care of.
I have been in crypto since 2017, and he has done well for himself in the cannabis industry in Colorado. Now, we have reached a point in life where we want to do something that really helps others and have a ton of fun doing it.
This last February, we started talking about something we could do together and realized NFTs (non-fungible tokens) could be a good fit. As we looked more and more into NFTs, it wasn’t long before we realized that with the growing crypto and space tourism markets there was this unique time in history that we could offer something life-changing for the average person who can’t afford a $450,000 ticket to space.
Related:How NOT to Store NFTs
How will Society enable space travel for all of its members?
Our goal is to begin purchasing tickets for all 10,000 members by 2030. We expect this to cost us between one and five billion dollars for all of our members depending on the cost of space travel at that time. Because of cryptocurrencies and NFTs, we were able to develop a business model that never before could have been dreamt of. In order to accomplish this we will have four different revenue streams to feed the LFG2Space treasury.
- Primary Sale – 2ETH (50% goes toward treasury)
- Royalties – 50% of Royalties will go to the LFG2Space goal. This is something that was not possible before NFTs
- Staking the Treasury – This will help secure the ETH network and the ETH network will reward us accordingly allowing the treasury to earn compound interest
- 1,000 reserved NFTs- We will be minting 1,000 NFTs to hold for a later sell date so the treasury can take advantage of higher market prices
With the space industry projections of a $250,000 ticket, and ETH projections of $50,000 by 2030, we will need a minimum of 5 ETH per ticket. With these four revenue streams above we can get there. Of course we are in uncertain times, so we will be stacking additional revenue streams to ensure we meet our goal.
How were values for space tickets derived?
We aren’t space industry experts, so we looked at what the industry is projecting. Right now that number stands at $250,000 except for SpaceX who believes it can get the price down to $100,000. With that said we are in uncertain times, and inflation could keep prices where they are at regardless of innovation. This is why we will be creating additional revenue streams for the LFG2Space goal.
What is the projected date of the first trip?
Our goal is to start sending our people up by 2030. Currently, the space industry projects that if a ticket cost $250,000 there would be 1.5 million people ready to buy. The space industry cannot handle that volume right now, and if it could it is still too expensive for the average person.
That is why we are doing this. We have the opportunity to bring the ultimate first-class ticket that is reserved for the ultra-wealthy down for the average person.
Please, can you tell us about the LFG2SPACE concept?
Let’s Freakin’ Go to Space! We wanted a slogan that people in Web 3 can identify with while at the same time sound inviting to the masses. LFG2Space does just that. We aren’t looking for the ultra-wealthy. We are looking to give the average person an ultra-wealthy experience.
Related: How to Profit From NFTs
Why is space travel a central theme for the bad Astro Society?
Because it is our whole goal. Within the crypto community, many people talk about going to the moon in a metaphorical way in regard to their coins and getting rich. We are bringing that metaphor to life by bringing the crypto community to real-life outer space. Something only the rich can currently do.
Please can you tell us about your governance process?
We are currently a centralized organization, but as time goes on and the community and treasury grow, we will be setting up a DAO to ensure the safety of our founders and team. Our founders are doxxed and the last thing we want is to have full control over billions of dollars.
That is more responsibility and safety concerns than we want to carry, and we are happy to share that load with the DAO.
How is the Bad Astro Society faring in the current crypto fallout?
We haven’t minted yet. So the fallout hasn’t hurt us, but it has made it more difficult to gain awareness of what we are doing and grow our community. The good news is, many people that we are talking to have never purchased an NFT, and they are telling us that our NFT will be their first.
NFTs seem to be losing their hype. What strategies is the Bad Astro Society deploying to maintain the value of purchased NFTs?
Our NFT is different in that they will each be worth a ticket to space by 2030. So technically they should be getting closer and closer to that 6 figure value as 2030 approaches. The other thing is that they will be able to see the treasury grow, and therefore will have a transparent goal line that can help guide people with their purchasing decisions.
Why do the space tickets cost 2 ETH?
It all comes down to the math. We need to make it 2 ETH, so the math works out for us to get people there by 2030 and keep the business free of dependency on royalties.
Please, can you tell us about your IRL and minting events?
Our first IRL event will be in Miami, but we haven’t scheduled the date or the venue yet, so you’ll have to wait on this one.
How are merch sales doing in the current bear market?
We haven’t launched sales of our merch yet. We do have some, and as we get closer to mint we will be opening up the merch store. Our main goal for the merch will be to help build the community and grow the brand. We expect to break even on it pre-mint.
What are some future projects planned by Bad Astro Society and Space Bros?
We have to launch our first project first. I can tell you we already have 4 projects on our internal roadmap to be released in the first 12 to 24 months after the mint date.
What is the relationship between Bad Astro Society and Space Bros?
Space Bros owns Bad Astro Society. We wanted to have an umbrella company for the other projects to live under as we expand. Bad Astro Society will always be considered our OG project, and all other future projects will tip their hat to BAS by giving 10% of their revenue to the BAS LG2Space treasury.
What impact does the Fed have on the cryptocurrency space?
Currently, they have as much of an impact on cryptocurrency as they do on the rest of the market, and I don’t see that changing any time soon. So long as the FED has the ability to influence entire nation-states through their monetary policies crypto will be affected.
Is the current market chaos good or bad?
We argue that the chaos is good. As the old adage goes, “What doesn’t kill you makes you stronger”. These times of turmoil bring opportunities for growth and maturity to be developed in the market, and that is something we welcome.
What is the best position that investors and industry enthusiasts could take?
The best position you can take is one that is pro-cryptocurrency (decentralized blockchain) and anti-digital currency (centralized blockchain). This is an extremely powerful technology, and absolute power corrupts absolutely.In order to keep from a dystopian future of nation-states having complete control of their citizens we must take the side of blockchain being developed in a decentralized manner.
When do you think crypto winter will end?
I think it will end sometime in the next few weeks, and it will end in one of two ways. We will either have one last capitulation down to between 10k – 12k, or we will start setting higher lows and higher highs from here.
What are your predictions for the next uptrend?
I don’t think crypto will set new all-time highs until sometime in 2024, but I do think we will have a good upswing once the bottom is confirmed and then go relatively sideways for all of 2023.
Are there any holiday plans for the bad Astro Society? Please can you tell us about them?
Not this year. This year we are building the community through the holidays to continue to grow through mint on April 12, 2023.