Temporary change Revdis to Prodis

[whole narwhal]

[THIS IS TO BE CONSIDERED INSTEAD OF THE CURRENT PROPOSAL TO CANCEL REVDIS FOR THE UPCOMING ILLUVITARS SALE]

I'd like us to consider temporarily (maybe until more runway is not needed) changing the way revidis is distributed so that stakers get their worth of PRODUCTS in proportion to the revenue they would have received, minted for free by Illuvium, and allowing 100% of revenue go to the treasury.

Benefits:
This would allow for stakers to still be able to accumulate the same worth of ILV products, while ensuring the team will get enough runway to deliver the best quality, preserving the value of all ILV products.

Examples:
From Illuvitars, instead of people not getting any revdis (as it is currently being proposed) or instead of getting distributed the revenue from the sale (as it currently works), stakers could get their revdis worth of D1sks dropped in their wallets.

In the case of Land I think the way the sale mechanism worked wouldn't have allowed for this to happen, but from now on the team could make sure future sales are conducted in a way that allows this to happen, can you imagine if we had 72M more in treasury?

In the case of the Merch store, revdis could work as credits for merch, or could be a different product that gets distributed such as Illuvitar D1sks, or any other product the team develops.

Down Sides:
Many stakers are used to the idea ILV will generate yield and passive income.
But remember, what's good for the project will be great for all your ILV products, including your tokens and specially how much they could yield once revids is back to the way it is now. You can be certain that if the best product is made now, the more revdis there will be for you.

Sell pressure on products:
There will be more supply as more products are minted for revdis, which could cause sell pressure on the secondary markets.

Conclusion:
I think that the pros can outweigh cons here, as we are now taking in a different proposal to pause revdis on Illuvitars.

While change and sacrifice is hard at first, it pays for long term, which what I think stakers are and should be looking at. The most important thing for all of us now should be not to get passive income now, but to support the team so in the near future we can ensure a much greater revdis for all of us.

@waxen geode

[topaz terrace]

My proposal was something similar to this (#1040218513413001256 message).

It doesn't not have to be D1sks, it can be random Illuvitar or item. But I would agree with this and would think is the best solution imo.

[whole narwhal]

The only downside people can complain about is the inflationary mechanics and thus sell pressure on secondary markets, but in the case of Illuvitars (which sets will never again be able to be minted) I will argue it can be a good thing to get more Illuvitars minted for the stakers. It won't affect stakers (since they will be getting their revdis worth of an ILV product, it will help the team a lot, and should not affect holders of Illuvitars since more supply can also mean more opportunities in the future to complete albums, also, in the case of Illuvitars, more supply won't affect their utility (since exclusivity is not one of them due to the low pricing).

[topaz terrace]

In my mind it's like: every revdis is used to buy Illuvitars again and give them back to the stakers instead of revdis.
Illuvium gets money and more runway, community gets something.

[severe owl]

Except it's not, right? Because all ETH revenue would be going to the treasury for runway purposes. So with all of the ETH revenue going to the treasury, how are these D1sk NFTs expected to be minted?

This type of proposal is requesting that millions of dollars worth of Illuvitar D1sks be minted for "free" and distributed to ILV token stakers.

It seems a bit odd to me. Just trying to make sure I understand this correctly (and definitely still thinking about it overall).

[whole narwhal]

Yes, the idea is for D1sks to be minted for free, so that the revenue can go to the treasury. The mechanics are somewhat inflationary for Illuvitars, but I don't think that has any impact in their utility. On the other hand, it supports stakers at a time when they're being asked to just forgo their revdis.

[topaz terrace]

For example. If after 2 month of sales we collected 10m for runway, we are done collecting. If your revdis would bes $20, instead of $20 you get a free D1sk. If your revdis would be $3, you get one item. Not sure how it will work. But in my mind it's like you're forcing everyone to buy Illuvitars with the revdis. And with that, Illuvium gets money and we get Illuvitars.

I'm really not sure if that's possible. But that ideas sounded okay in my mind couple of days ago. Somebody said we should get something in return, I was like: why not Illuvitars?

[supple zealot]

This essentially means that, if we all use Eth for buying illuvitars, we would mint 2x as many than are bought. So the rarity will also halve.

Im not saying thats a bad thing, but wouldnt people buy less if they know that they get another X% of Illuvitars on top of what they bought? I for one would calculate that into my purchase.

So then instead of illuvitars, because we should be enticed to spend as much as possible, maybe the team should make a seperate NFT again with some undefined utility?
I know that the team has oftentimes hesitated to make random NFTs but it is difficult for me to come up with other items that the treasury can give away "for free" to reward buyers.

I think that the revdis proposal is more feasible but it is an interesting idea for sure!

I do know that otherwise, if 100% revdis would go to everyone you would also be able to buy more. So it is not exactly fair to say it like this but 100% to the treasury would likely have a more dramatic raising effect.

[severe owl]

I’m not aware of everything going on behind the scenes with the team as a moderator but just from AMAs and Discord chats over the past few months, it is known that the Illuvium team has already been making cuts to their roster—downsizing from a team of around 200 down to… last I’ve seen mentioned… around 140.

The idea with the proposal in the other thread (at least to me) is that all ETH revenue from the Illuvitars sale go to the treasury (either fully or until a certain threshold is met) so that the team doesn’t find themselves in a situation where they feel they need to let go of more devs or more artists or more (insert job title here) who have been instrumental in creating this game and these great assets we see each week.

Illuvium keeps the awesome talent they have left and hire more where needed so they’re able to continue with the quality of production we’re now accustomed to seeing. And of course, the games would ideally get released with minimal pushback/delays.

That’s what we would get in return. Not arguing for or against this idea at the moment as I'm still thinking about it overall. But I just want to be clear that the community would still "get something" but I believe what this proposal is suggesting is that the community gets more.

[whole narwhal]

The inflationary is there for sure, and if you're buying Illuvitars as a purely financial investment this would have to be taken into consideration.

With that said, I don't think it affects any of the core utilities that Illuvitars are supposed to have (being that exclusivity is not one of them neither is scarcity until they stop the sale). Buyers will still be getting what they're buying with all the same uitlity, stalkers will get rewarded instead of their revdis for this product cancelled, and the team will still get 100% of the revenue from the sale.

[whole narwhal]

I'm in agreement with this, the community will get the most important thing, to make sure the team keeps building so their tokens remain valuable. This proposal would still allow for that, while also rewarding them with ILV products they can hold, and get some utility, incentivizing future staking.

[supple zealot]

I think that an investor will buy less if he knows he gets more than he intends to buy. If the person aims for X sets and knows that he will get a set from all his ILV stake, then i think he will buy X-1 sets during the sale to come out at the amount of sets that he intended to buy in the first place.
This is true for if he thinks about it as an investment, but also if he thinks about it as a collection game. 5 collections is enough, so why buy 5 if you know that you can finish 5 when you buy 4.

I think that sending gifts in the form of the product that you want to sell is negative for the amount of items that you intend to sell regardless of whether the buyer in question is a collector or an investor.

[topaz terrace]

But isn't it the same if you think about it other way around?
Investor though he will get revdis and buy another D1sk from that. But there is no revdis so investor is disappointed?

[supple zealot]

yeah it's the same thing. If you give out 100% revdis over the illuvitars then it would allow players to buy more as well. If you don't give players anything, then they'll have to spend more to get the same amount of assets that they intended to get beforehand.
So they'll be disappointed but possibly spend more anyways 🤷‍♂️ I may be wrong.

[topaz terrace]

I guess it depends from person to person, I personally I'm planning to buy as much as possible, and if I get more from revdis I would buy more.

as much as possible = hopefully 2 D1sks
revdis for me = 0.1 D1sks

But I'm not the target, so you might be right with that.