I never thought this great game will end like this.
Clearly the SPS DAO it's been the worst decision by Matt and Aggy, even made with good intentions. Now it is devouring itself while dragging the game to the graveyard. Oh well.
It was a really good game, fwiw.
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Really corageous downvotes, thank you.
I downvoted your remark because it is incoherent.
Given that if the corporate was the issuer and controller of SPS it would have potential serious legal problems in the litigation happy USA, what would you suggest we do?
We can scrap SPS and make a conversion to ingame assets/currencies. There are 1000 ways to do that and kill a project that clearly has gone south, there is no shame on failures here, we are in crypto, for Pete's sake.
Do you really think is a good idea with a shitty market cap, no value, no exchanges, zero recognition, start to play "Offshore Foundation" like if we are Consensys or some other Billion market cap org?
Or is just to keep doing what it has been doing the last year, which is slowly milking the remaining value of the SPS treasury and put a very selected, carefully controlled group of player whales in control to drain both the assets and the value of the token out from the rest of the ecosystem?
Oh, and you can downvote this too. I don't downvote a post when I don't agree, mind you. But everybody can do what they want of course.
At least you have answered, it shows you care a little about the game instead all those "community leaders" which just post to suggest new ways to skim a little more money out of the DAO.
Hi renovatio, Can't understand why we should kill sps or the game, nor do I see how you could argue that it is failing, but if you have any points to support your view I would give them a fair read.
The reason for the foundation is that a dao lacks any way to interact with the world and a foundation solves that problem.
I only know a few of the whales but it seems fairly clear they are not a homeogenous group and there is a lot of healthy debate going on.
This proposal does not take any funds out of the dao....
I don't know you or your hive history but I thought the whole point of upvoting and downvoting was to express support or the lack thereof to posts and comments?
I love Splinterlands Ranked and play every day. Never played you though 😀
I upvoted your comment as you at least started to converse.
Nvm, I'm pretty frustrated right now, as the 95% of the "normal" players in the game. Is not even about the tokens price, which don't help at all, but about everything that has been going on this last year in Splinterlands. Too many things to detail, to be honest. I'm just tired.
You describe a current climate very different of what I have experienced. For Pete's sake, we have even been asked to FUND the core team to make the next expansion. This is bonkers. Splinterlands devs have earned Millions of dollars (Millions as in Tens of Millions of dollars) in the last few years and now they are behaving like if they are an Alpha Seed round bootscrapping a new project. Meanwhile, the vast majority of whales have been dumping in the market in the hundreds of thousand of dollars, which is understandable as they have made between a 1000% and a 3500% of their initial purchase. Meanwhile , they posts are about "Welcome to the family" and "look there has been 40,000 SPS burned" and "Hey let's create another promo, pay for it as I generate enough vouchers per hour to buy 20 for free" etc. etc.
As I tell you, all the picture is insane. I'm not even proofing what I'm writing, I'm just tired of this sh*t but let me assure that in a real life convo over a beer I could be listing problems and red flags for two hours straight.
At this point I'm just playing by inertia in Standard, with zero hopes, targets or fun.
Not a good sign. Again, nevermind and ty for the civil discussion.
Most companies have a pretty simple job. They do things for income that they then keep or use to grow the business. And most companies fail long before 6 years. Matt is trying to run a company, manage a separate asset economy, and build up a DAO to be bigger and more well funded than the company. And after 6 years steemmonsters is still here. That in itself is incredibly impressive.
They did have a massive windfall with CL and the 5 person company founded by two people who've never run a business made a classic business mistake. They got excited by their success and over-hired thinking the success would only get bigger. Then they had to figure out how to get 150 people up to speed and then run a 150 person company in the middle of an economic and crypto downturn. Many businesses that experience major sudden growth end up failing shortly after for making these same mistakes. Steemmonsters is still here but didn't come out unscathed.
Instead of building up company coffers, Matt/aggy decided to bet that if they could get the DAO to be stronger, it would help the token, and that would in turn help the company by bringing in new players who want the token. So they sold nodes and rift watcher packs as DAO revenue and token burning. They also gave half their (main) rebellion revenue to the DAO.
There's not a lot of case studies, if any, for how to do what they're doing. Looking back, they probably should have kept more revenue but they gave it away. And now, they are feeling it and they are going to have to go ask for some of it back to fund the company. Remember the company spent their resources to build the DAO, and literally every dime the DAO has is based on work the company did to fund it instead of funding themselves. They misjudged it and they are going to need some of that money they gave away back. That is not insane to me. It's sort of incredible that the company made it this far at all or that the DAO exists at all. Because it wouldn't if they failed.
And I'm not sure why you're upset about #welcometothefamily. There's some implication here that you might think of whales as one group that all move together? If one is selling, then another one buying is somehow disingenuous? Is there one (or more) account that is dumping hundreds of thousands secretly while buying a card here or there publicly? If so please tell me who.
I mean, I'm watching whales like cryptoeater and bravetofu load up. Bravetofu buys cards and SPS constantly while selling nothing. Cryptoeater is more complicated because he sells cards here and there and has always bought accounts of people who need quick liquidity and sold them off but he also has a market place which is burning all the DEC they receive from fees. He opened a whole meme coin that burns SPS and recently increased his stake to 37 million SPS. I haven't seen vugtis sell anything but the airdrop cards but I always see him buying more cards. Those are the three biggest whales in the game.
https://peakmonsters.com/@vugtis/explorer
https://peakmonsters.com/@bravetofu/explorer
https://peakmonsters.com/@cryptoeater/explorer
Don't get me wrong, there's plenty that sucks about this whole situation but I'm just not seeing what you're seeing.
Thanks for the detailed answer. Whales usually don't concentrate around a single account. At the end of the day, anyone can see volume, cards sold, cards bought, sps sold and bought.
The charts tell a reality that no narrative can change. The dumping on the game in the last 12 months has been massive. It is what it is. "Hey but XX is buying". Right. SPS 20 cents to sub 1 cent. Someone must be selling? Lands from $500 to $40. Cards, same. A -300% easy. "Well the biggest whales are buying" - That is the good ol' Power Law and doesn't help a dime. At least, this is my opinion. Numbers over narrative.
I quoted the "welcome to the family meme" because it may lead to think that there is a healthy market out there full of optimist happy people forking $500 every other day on a card. There is not. And again is not opinion, the numbers are there.
About the Matt and Aggy company funds mismanagement I know the story :-) I have seen a company with 6 guys in Zug skyrocket to 25, with a monthly salary of 8K each, all the way down to 2 guys owning three months of rent of the place. That is crypto, it is fine.
But the solution to that is not to muddle with DAO anymore. Is getting scissors, cutting, simplifying and starting from scratch. We are in June already, still waiting for that "big PR push" promised.
5 guys.
Servers.
Daily posts.
incentives for gamers.
PR.
Hustling
They have sold MILLIONS in cards. That is the hardest part ffs. Oh and powercreeping doesn't solve anything. They need sinks, like Lands, Conflicts. Maybe a massive format, a "MTG Commander" in which you need to make a deck of 100 cards and have them locked for a season to play daily combats.
I don't know, I'm not even thinking deeply, just writing fast, I got to go to work.
Anyway. Thanks for the convo.
Maybe you should swing by the spl discord sometime?
You can chat with like minded people and, thanks to the recent retiremenmt of the mavho, it is a surprisngly positive and salt free space in which a wide range of views are expressed....
ok ty.
Sorry but to say you "cant see how you could argue it is failing" is a joke right?
By every measurable metric it is losing value. Hell I stopped playing months ago because its also boring as hell now.
The only thing that has happened for the last few years was an oversupply of unnecessary crap to line the pockets of the blokes who made the game.
Hey maybe another promo will fix it right?
If you think Splinterlands is a boring game, you should absolutely consider selling your stuff and finding something you find more fun.
Maybe marvel snap would be more your thing? You can buy packs for up to 80 bucks and own precisely nothing!
It is a simple matter of fact that A LOT has happened in
Splinterlands over the last three years and the new direction it is taking is clear to see for those that are following events closely.
I can understand people being frustrated with falling values, and I and many others share that pain.
Yes, and the worst part is, we knew. It was obvious a DAO would break the economics the same way it keeps happening around the world...