RE: SPS Governance Proposal - Implement Daily Burn of Riftwatchers Packs
(Edited)
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I understand the short term argument for this, but I won't vote for burning of DAO assets.
My reasoning is these packs could be vaulted in the DAO for 10 years, and then be distributed as prizes in ranked play, tourneys, brawls, land distribution, Burning events, etc.
I can imagine the day many years from now where the DAO supplements various ways to create value, and taking away that value now from the DAO will make it harder in the future to use these assets.
Of course this is just my opinion. And I would fully support this proposal if the DAO received 100% of the packs taken out of circulation. But I want them "vaulted" in the DAO and not burned.
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Well that's why I proposed that 10% would go to the DAO. Keep in mind that 10% of the remaining packs is almost 200k packs that would go to the DAO, for a set that has only sold about 1M packs in total. I think it would be really bad for the DAO or anyone to have double the total amount of packs in circulation for a set just sitting around that could potentially be unleashed on the market at some future date.
What would you think if there were an extra 1.5M Beta packs still just available somewhere? I think it would make players very wary of putting much money into those cards and that's not something I would ever vote to do. I think 10% of the remaining packs makes a lot more sense as far as preserving DAO value and future assets without leaving a massive specter overhanging RW cards forever.
Matt, thank you for the reply. I will consider this point between now and the live vote:
I have always believed you were ambitious in calculating the level of demand for each set all the way back to Alphas, but we always grew into them. I do recognize we should "right-size" future production of both main sets and special sets.
If possible could you give us your current thinking on what you feel the next Main Set production level should be (assuming $4 pack) and the Auxiliary Set production level should be (assuming $5 pack)?
If they are going to be cut way down from the latest production runs, then I believe it would make sense to burn these based on your comments.
If you can't answer that yet, then I understand. But it would help if we had some color on your thinking in my opinion.
My thinking is that we should stop trying to guess the proper production level (which is nearly impossible with the rate that things change in this space) and instead just plan this burn mechanic upfront, so that way we let the market decide, which is almost always better than central planning.
Specifically, for future sets I am thinking that we plan a relatively high number of packs (as we did for CL and RW) and then let everyone know upfront that once a year has passed from the beginning of the pack sale any remaining packs would be burned on a daily basis over the next 6 months.
For example, if Rebellion is 10M packs (which is quite a lot), then if only 1M sell in the first year, then the 9M remaining packs will be burned in equal increments (50k packs per day) over the next 180 days. This allows everyone to plan a lot better for the timing of sets selling out and new sets being released and lets the market decide how many packs are ultimately in circulation.
It's like I talked about in the "Change" section of my original post on this account - if we find a better way to do something then we should switch to that and not keep doing things the worse way just because we don't want to change things.
Thank you for the color on this Matt. Very helpful to know how you are thinking about future set releases. I will give my stance of "no burns for DAO assets" more thought.
How would you feel about doing a staggered release of packs, and then burning on a monthly basis any unsold packs, instead of waiting for x period in total.
For instance, if the pack set has 10M packs:
Month 1: 1 million packs available, with x being burned each day if sell rate is less than 1 million / number of days in month.
Month 2: 1 million packs available with x being burned each day if the sell rate is less than 1 million / number of days in the month.
This would continue for the duration of that set - a fixed 10 or 12 month period.
This way the burn mechanic is built in right from the start and is a constant threat for the duration the set is available on the market.
I like that. My main consideration is that the rules are stated ahead of time and there is an ultimate limit. The reason is so we can make decisions based on that information.
if those packs are "vaulted" and used for rewards down the road when sps distribution ends, is that really "unleashing" them into the market? value is value and if anyone is buying packs to hold for 10 years is not really here for the game itself and more for investing (which is perfectly fine) but personally i would like the DAO to be focused on providing value post sps instead of protecting investor intrests. Just my opinion though and i feel as dave does currently. Anything the DAO gains from now until SPS distribution ends, directly extends the value the DAO can provide to the players and extend the life of the game. I will say that if the % that is vaulted was increased to say...25% I would feel better about it since this directly deletes DAO value as it stands.
I agree with this sentiment. I'm not in favor or burning anything when it comes to the DAO's assets. If the packs don't sell, they don't sell. If the airdrops are a concern the team can simply end the airdrop early.
Over and over I keep seeing proposals and votes to essentially try and cannibalize the DAO for current players or should I say, investors... The DAO needs to be around to be able to host events far into the future and these packs can easily be part of that. We might as well just vault them all...