Esteban from Decentraland has been in touch regarding a joint campaign to promote the auctioning of the final parcels of land in their virtual world.
The first auction of land took place in December 2017 - January 2018 and they saw over 161 million MANA spent on 34,356 parcels of LAND during the first auction, amounting to roughly $30 million USD at the time! However, after the conclusion of the auction there were still 9,331 LAND parcels left unowned. See full blog post of initial auction here
We can run a joint promotion of the final land parcels and allow people to purchase Land via Status and with SNT.
How the auction will work:
Users will select the LAND parcels they want to purchase on the map.
There will be a price at any give moment (decreasing minute to minute).
Users can choose MANA as well as other tokens for payment, and will see the price on the screen.
Behind the scenes, the payment with other tokens is made possible with a Kyber Network integration, which handles the exchange and liquidity of tokens.
For all payments made in tokens other than MANA, we reserve 5% of the tokens for burning or taking them out of circulation. This is 100% optional, however: stablecoin projects prefer not to have a burn.
@yessin @carl - is there any issue with burning SNT when token holders purchase land with SNT?
@rachel @julien can you confirm users will be able to take part in the auction via Status? Their blog post only mentions MetaMask, Mist, Ledger, or Trezor wallet. Also - is there any type of extension that can be implemented in time to make this campaign even more appealing? We briefly spoke about the following:
- Custom token in wallet
- Purchase land via chat command
I know you are heads down on a Kyber extension. Considering they are working with Kyber on this auction, there is something we can do?
@ShawnS @Hutch - Ill loop you in with the PR lead from Decentraland and we can craft a campaign strategy and encourage as many people to purchase the land via Status as possible.
I can confirm that the Marketplace works well already in Status, that I can buy MANA for Eth on Mainnet (they are leveraging Bancor atm, and there seems to be quite a bit happening behind the scenes that makes it a touch more expensive): https://etherscan.io/tx/0xfbd2478a4b3cf16ff18d6e27e847901b8fb5c5456a8feef0b53db2013b0a96b8
Will be interesting to see what, if anything changes with Kyber… But either way, we can certainly be added to that list in the blog, even if extensions etc are not ready by then (though hopefully the Kyber one is!)
What is the rationale of burning SNT?
SNT holders are free to do whatever they want with their SNT. They can of course contribute it to a project that burns a part of it if they see value in that.
Burning tokens decreases the circulation and is in essence a donation to the network.
Now, the question is, should Status endorse a project that is promoting such “donation”? I think if it is the general design and desire of Decentraland to offer burning of tokens and if burning is explicitly communicated in a transparent and understandable manner to the participants, then I personally do not see any issue.
@cryptowanderer Can you share the relevant decentraland link?
Did you test recently? I was just creating an issue - so thanks for doing that!
@julien, the DApp is here: https://market.decentraland.org/.
As mentioned elsewhere @jonathan, an extension isn’t in the cards for this. Re: custom token—I was under the impression that Decentraland might be creating one; that we could support, but unlikely we would create one ourselves. We will definitely list the DApp.
Cool initiative, hope to buy some LAND with SNT!
This campaign is getting ready to kick off with the auction launching next week – Dec 10th.
I just received word from Fede and the decentraland team regarding timing of comms. They would like to push out comms this Thursday to give people some time to prepare for the auction.
With that, there are some moving pieces we should consider:
- Blog Post - I will work with Stacey on the blog post.
- Social Comms run of show - @Blockchain_Islander we should plan some comms for the following:
- Thursday December 6 - launch of campaign / awareness of auction via Status with SNT. Drive to blog post.
- Sunday December 9 - reminder of auction tomorrow (twitter)
- Monday December 10 - auction is live (twitter)
@Alex - we will need a blog cover image, some decentraland UI assets, and some social assets for Sunday, Monday.
For the blog cover image, I suggest it is a simple Status + Decentraland partnership image.
For the blog post, we will need some assets of the unique screens mocked into a phone (ill email you a draft of the blog with directions for assets within).
@jonathan thanks for the update. All seems straightforward enough, we can touch on these in our next call.