Exactly.
One of the big token payouts right now for the game I shall not name. Was laughing that they are making $300K per year from all the delegations for their Layer 2.
People that are struggling to get by are giving this "game" $300k/year.
Hoping the game will be good.
Thanks for stopping by.
didn't read the full post but it's ~300k hive per year, the tweet u may be referring to mentioned at $1 hive it'd be $~300k per year.
anyway
thanks for the clarification.
Hope your project goes well.
Our company just doesn't believe in Layer 2 tokens as they violate current SEC rulings and are not needed.
But we do not wish anyone or any project using those no ill will.
Note: My understanding is all Hive-Engine Layer 2 tokens are registered securities.
Actually they are unregistered, that is where the SEC would have the issue.
It depends upon the distribution. If the tokens are sold, then yes, in the eyes of Gensler that is a security. However, it is only the selling. So distribution as rewards is a completely different matter.
Or be outside the United States then you dont have to deal with Gensler.
Agreed.
But I have not seen a layer 2 token that was distributed that has not had any sell activity.
but i get your point.
You can be outside the United States but if any US citizen has access the SEC will come for you.
Which is why a lot of projects do not let US citizens get involved.
It is best to just not have layer 2 tokens in your games. There is no real reason for them from a game play stand point. When you can have an in-game currency that doesn't trigger any of this.
Not a single game designer or web2 company I have spoken to disagrees but if someone has a legit reason. I am open ears.
True. Even EOS didnt allow US citizens to buy during their ICO.
didn't read the full post... interesting.
have a good day