Thor has recently been making changes as we transition into bringing on revenue and customers. As our token holders have been our number one priority from day one, sometimes difficult and painful changes have to be made in order to ensure a positive outcome for everyone that holds Thor Tokens.
There isn’t any way to sugar coat how we have been forced to layoff 50% of our staff. Thor is transitioning from its initial stages of market research, beta testing, and figuring out who we are, to providing a tangible product that companies that hire 1099 contractors use. In that transition we’ve needed to correct our cash flow as the blockchain market declined 90% from the time we initially did our ICO. Some of the folks affected in the layoffs may rejoin the company full time in the coming months depending on availability.
If Thor had only built blockchain solutions, we would be in the same boat as many ICO’s with no adoption nor customers. All one has to do is go to the dapp rankings (https://dappradar.com/rankings) to see the dismal shape that even companies that raised over $30M dollars are in.
We have needed to correct cash flow and focus on sales as there has not been new money flowing into tokens for quite some time. In order to sustain Thor, we’ve been focused full time on bringing on new banking partners, customers, and institutional investors. You can see how money flowing into blockchain projects has dwindled to nothing.
Today, Thor has 3 signed agreements that in total represent over 8,500 contractors that will be on boarded onto Odin in the coming months. We have a pipeline of over $1.8 million dollars of Annual Recurring Revenue (ARR) that we will be closing in sales deals over the next year. Matt and I are very bullish on Thor and the utility we’ll be able to provide in the Thor Token.
We ask the community to continue to be supportive and awesome as you have been while Matt and I continue to drive Thor towards success by onboarding customers, contractors, and new partners. By this time next year Matt and I have plans to be in the top 10 of CoinMarketCap by introducing innovative ways to have contractors use the Thor Token. It’s no use to talk or diagram out these plans when we could be onboarding more companies and contractors. There are far too many blockchain companies with infinite white papers and nonexistent users.
Join Thor on our push to dominating the 1099 contracting space. Onward and upward.