Launch Sphere - Gaming NFT Marketplace Now

Governance
1

Title
Launch Sphere - Gaming NFT Marketplace Now

Authors
Kabramanan

Summary
This proposal aims to launch Sphere, a gaming NFT marketplace on the blockchain now, instead of waiting for the crypto bull market to start and NFT volume to pick up again. The competitive landscape is changing and we risk losing market share if we wait.

Abstract
Sphere is a gaming NFT marketplace that will be built on the blockchain. The marketplace will provide a platform for gamers to buy, sell, and trade NFTs related to their favorite games. While we originally planned to launch Sphere during a crypto bull market when NFT volume is high, the competitive landscape has changed, and we risk losing market share if we wait. Many competitors are launching gaming NFT marketplaces and gaining market share. By launching now, we can establish ourselves as a leader in the space and capture market share before our competitors.

Motivation
The gaming industry is experiencing tremendous growth, and NFTs are becoming increasingly popular. However, there is currently a lack of dedicated marketplaces for gaming NFTs. Our original motivation for launching Sphere was to fill this gap and provide a platform that is tailored to the needs of gamers. While our motivation remains the same, we now face increased competition in the market. By launching now, we can establish ourselves as a leader in the space and capture market share before our competitors.

Rationale
There are several reasons why we should launch Sphere now instead of waiting for the crypto bull market:

  1. Increased competition: Many competitors are launching gaming NFT marketplaces and gaining market share. By waiting for the crypto bull market and high NFT volume, we risk losing market share to our competitors. By launching now, we can establish ourselves as a leader in the space and capture market share before our competitors.
  2. First-mover advantage: By launching now, we can establish ourselves as a first-mover in the gaming NFT marketplace. This can help us gain early traction and establish our brand before the market becomes saturated with competitors.
  3. Early adoption: By launching now, we can attract early adopters who are eager to participate in the gaming NFT market. These early adopters can help us refine our platform and provide valuable feedback for future iterations.
  4. Flexible pricing: Launching now allows us to experiment with pricing strategies and adjust our platform as needed based on user feedback. Waiting for the crypto bull market to start may limit our ability to experiment with pricing strategies.
  5. Building credibility: Launching now demonstrates our commitment to the project and builds credibility with potential partners and investors. This can help us attract new partnerships and funding opportunities that may not be available if we wait.
  6. Increased user base: By launching now, we can tap into the growing user base of gamers and NFT enthusiasts. The gaming industry is experiencing a surge in popularity, and there is a growing interest in NFTs. By launching now, we can attract users who are looking for a dedicated platform for gaming NFTs.
  7. Diversification: By launching now, we can diversify our revenue streams and reduce our reliance on a crypto bull market. Waiting for the crypto bull market to start may limit our ability to diversify and explore other revenue opportunities.
  8. Marketing opportunities: Launching now allows us to take advantage of current marketing opportunities, such as events, sponsorships, and collaborations. These marketing opportunities may not be available if we wait.
  9. Innovation: Launching now allows us to innovate and improve our platform based on user feedback. We can continuously iterate and improve our platform, making it more user-friendly and feature-rich.
  10. Timing: It’s difficult to predict when the crypto bull market will start and how long it will last. By waiting, we risk missing the optimal timing to launch our platform. Launching now allows us to take advantage of the current market conditions and establish ourselves as a leader in the gaming NFT marketplace.
  11. Cost: Waiting for the perfect time may result in higher costs. As we delay the launch, we may incur additional expenses such as maintenance costs, hosting fees, and salaries. Launching now allows us to start generating revenue and offset these costs.

Please comment out your thoughts below.
Thanks.

2 Likes
2

Yes %100

I believe early adaptation is important.
There is no point waiting bull to launch a product.

2 Likes
3

I would be careful as we don’t know the level of maturity of product. You assume it is ready and just delaying the launch from some posts in tg but for software guys “ready” can mean different things (MVP, feature complete, ready for tests etc.). Launching with quality issues, without proper testing and audit of smartcontracts would be awful for reputation. Also - marketing campaign should be properly prepared (designed, planned and budgeted) to support launch, else nobody will notice. What I could really expect for now is some details about status of product. And if “ready” really means something serious - Beta-testing campaign which can widely involve MC & EH community members as we have skin in the game.

2 Likes
4

Thank you for your feedback, Timour. Just to clarify, I’m not assuming anything, I have been an active member of the community for nearly two years, and the information I provided in my proposal is accurate.

However, I understand your concern and agree that it would be helpful to receive more specific information regarding the status of the product and a clear timeline, rather than just a vague promise of “soon”. I am optimistic that the team is currently preparing a response and I look forward to hearing more from them. Let’s wait and see.

2 Likes
5

Hi kabramanan,

We hope all is well, and thank you for creating this proposal.

We’ve read the proposal and believe we understand where you are coming from. Sphere has been in the making for a long time and even though we try to be as transparent as possible in both the progress from a development progress as the strategic decisions that we make you are looking for more information on the matter. The curiosity whether Sphere’s heading in the right direction, and the value add to the DAO is a valid concern. Allow us to address some of these concerns in the best way possible. The below explanation will hopefully showcase the rationale for not pushing out Sphere yet and that we have good reason to keep developing it.

Building a product like Sphere takes time. We’ve been through a lot since we started developing Sphere, including working with external agencies, and building our own solutions from scratch (both smart contracts and key infrastructure). During the developments, we pivoted from the initial idea regarding developing the core smart contract from scratch and chose to develop the frontend for Sphere on top of the superior open source Seaport core smart contracts, resulting in various adjustments to Sphere. Then there’s the indexer; the mechanism that scrapes the blockchain to find all available NFTs. We relied on a third party for its development, but realized building our own makes more sense – handing this over to internal developers takes time, and doing things the right way does too.

The comment about market conditions that may never be appropriate is valid. However, imagine if we went live around June ‘22. We would’ve had a platform requiring daily maintenance from a development, support and marketing perspective. In the meantime, the demand for gaming NFTs would completely dry up over the next months, receiving in a minimal return on the made investments in these months of being live. We’d possibly be able to build a name for ourselves in these months, but having a marketplace as the first product without any volume would’ve most likely resulted in a less favorable result to the DAO than postponing its launch.

Further, there’s the legal aspect of Sphere. As other activities and aspects of MC DAO, Sphere requires a diligent approach to comply with regulatory requirements, which we need to take seriously. We have been, and are continuously, working on understanding how the envisioned version of Sphere will fit into the dynamic legal landscape, including upcoming regulations such as MiCA.

You must understand that we really try to operate as transparently with Sphere as possible. We’re trying to figure out the best way to balance communicating everything as elaborate as we can, while maintaining our edge towards our competitors and maneuvering applicable regulations. One last thing we’ll say is that we found an additional place for Sphere which in our view fits incredibly well. It concerns a point of development that we want to complete in a regulatory compliant manner prior to launch and which we’ll share more about in the near future, as not all the final details have been confirmed yet.

Although we do generally agree with most of the points that you have listed under “Rationale” in your proposal, we think that, based on the above, it’s not yet the right time to launch Sphere that we have in mind. We are getting close however.

As always, we thank you for your continuous support and dedication to the Merit Circle DAO

3 Likes
6

Henlo,

I completely agree that launching the product at the right time is crucial to avoid unnecessary issues, as OrangePill pointed out above.

Nonetheless, I believe it would be more beneficial if the team could release teasers or share updates (including images/videos) on the progress made behind the scenes. This would help us to understand that significant effort has been put into the development of the product.

For instance, consider Oh Baby’s approach – they release weekly teasers for Kart Games, which have attracted considerable attention from people on Twitter. This has created a sense of excitement and anticipation as everyone eagerly awaits the game’s launch.

In my opinion, “work-in-silent” may be an outdated strategy that may not be effective in the context of Web3. Web3 emphasizes community building and transparency, which are especially important for a DAO.

-drcomot

2 Likes
7

Hey there!

Thank you both for your responses to my proposal. I agree with drcomot that launching the product at the right time is crucial to avoid unnecessary issues, as OrangePill pointed out above.

At the same time, I think it would be great if the team could share updates on the progress made behind the scenes. Releasing teasers or updates (including images/videos) would help us to understand that significant effort has been put into the development of the product. Oh Baby’s approach of releasing weekly teasers for Kart Games is a great example of how this can create a sense of excitement and anticipation. I believe this approach would be particularly effective for Sphere, as it would help build a community around the product.

Ultimately, I think transparency and community building are important values in the context of Web3 and a DAO. I appreciate the team’s efforts to balance communication, regulatory compliance, and competition. I trust the team to make the right decisions and can’t wait to see Sphere launched.

Thanks again for your thoughtful responses!

Best,
kabramanan

1 Like
8

Greeting!

Glad to see this topic.

I believe that integrate most of invested portfolios and a wider range of high-quality games is the key factor for the launch of Sphere before massive adoption.

In addition, certain number of well-designed games require a built-in gaming assets market to let the players no need to switch. Providing deployment services for them is also one way to play.

1 Like
9

Hello @dmgdata,

Thank you for your valuable insights about the Sphere launch. I fully agree with your suggestion of integrating Sphere into in-game marketplaces to ensure its success.

@OrangePillLtd, I would appreciate it if you could share with us when we can expect the integration of Sphere into games’ in-game marketplaces and the number of games that we aim to have before launching Sphere. I am eager to learn more about the development timeline for these features.

Thank you in advance for your response.

Best regards,
kabramanan