[DAO:4a3688d] Acquisition of DG's 80 plot estate

Governance
1

by 0x8218a2445679e38f358e42f88fe2125c98440d59 (1010)

An informal discussion arose amongst DAO members on the land buyback channel in Discord about the possibility of acquiring DecentralGames’(DG) 80 plot estate that has been listed on the DCL marketplace.

The current 80 plot estate sits inside Vegas District and is currently listed at 150k MANA.

The objective of this poll is to decide whether a block purchase of the estate should be considered.

Based on a preliminary assessment, these are the benefits and risks associated with the purchase.

Benefits

80 plots altogether allows a good amount of DAO/building activity to be centralised in terms of location, for easier viewing, rather than being scattered.

The listed price of 150k mana for 80 plots of land signifies a price of slightly less than 2k mana per plot, which is below the floor price as of the moment this poll is launched.

Save gas fees on modifying the estates should the algo purchase the similar estate but in a partial form.

Delegating “operator” status to multiple entities will be a non-issue, confirmed with HPrivakos.

Risks

The DAO will own a relatively sizeable portion of estate within Vegas District, which may give an impression that the DAO is owned or related to the latter.

May be perceived as piggybanking DG as it liquidates it’s lands.

May be perceived as unfair to other sellers.

Caveats

This poll is non binding and is subjected to DG being willing to hold on to said estate until the governance proposal is passed and enacted.

Clauses will be added to ensure that no more parcels within Vegas District will be purchased for 1 year to ensure that the land purchase proposal is not deemed to be piggybanking DG.

DecentralGames and all entities associated to it is not allowed to vote in the proposal due to a conflict of interest. Any participation by DG and it’s entities will nullify the proposal.

Options available to vote

  1. Purchase ESTATE and withold LAND purchase for 4 months starting from July.
  2. Purchase ESTATE and continue with LAND purchase.
  3. Don’t purchase ESTATE.

LAND purchase refers to the recently passed governance proposal to acquire LAND for DAO use.

  • Purchase Estate, withold LAND purchase
  • Purchase ESTATE and continue LAND purchase
  • Don’t purchase ESTATE
  • Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

1 Like
2

That’s concerning. Why is DG liquidating it’s lands in DCL? 80 lands is a lot of space… should be considered very valuable, even to hold and use or rent or sell later.

3

Its a really cheap deal the DAO can benefit of!

DG got 80 parcels for a huge price indeed but considering that 1 parcel equals 1875 MANA which is now only 900$ makes this deal really a must have!

also keep in mind that our DAO has bought 0 parcels so far makes me feel safe to continue after this!

4

DG will still have > 800 parcels of LAND after this sale. The sale of these parcels was approved by the DAO about 4 months ago:

https://snapshot.org/#/decentralgames.eth/proposal/0x24c3db1fc8919092490b1522eb7b5f35d1d5b2be8e86a2484be0a3f02308253b

5

Owning a large chunk of land gives you more options to build with. One fear I have of the DAO accumulating a lot of single-parcels are the limitations that you can build on one parcel. This would alleviate that. Another advantage would be the “social” atmosphere that could be created here. Think about the area near the Dollhouse that now has 4 POI stars and even more active builds than that (See picture below). When you visit, it’s more like a neighborhood, and there’s almost always someone on a nearby parcel. Utilizing an estate with 80 parcels would be an interesting social experiment, and could give us a new perspective on Decentraland if there is a large amount of people actively building in one close space. I will wait to see how the community feels, but I think it gives more long-term options than single parcels all over the map.

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1 Like
6

Hi @Canessa. Thanks for your detailed feedback. The priority of the land purchase agreement is to purchase estates first before purchasing parcels, so while I agree with you that purchasing just parcels is not a good idea, it wouldn’t be the case. I do also agree about the social aspect of having builders located beside one another.

Another point of consideration for everyone to discuss about is whether including the exclusion clause for Vegas district is fair. My personal opinion is that because DG owns a huge chunk of Vegas district, it becomes a “guilty by association” scenario even though they are an innocent party. So whether the exclusion clause should be for DG or for Vegas district is up for discussion as well.

Please also note that the withholding of land purchase is only for 4 months. This is because the total cost of purchasing the estate is 150k mana, which is equivalent to 4 months’ budget of land purchase by the DAO.

7

While I think this would be a great use case for the newly constructed DAO buying LAND proposal, I do worry about the association with Vegas District. It’s also worth noting that just because it’s an 80 parcel “estate” that doesn’t mean that it has to be used as an estate. That’s 80 plots that can be used for 80 different projects you break it all up. With each plot being below 2k MANA, that provides an opportunity for the allotted buy back budget to go even further (if I recall the figures correctly). Which I think is pretty valuable, but again I worry about the association. There are already a lot of poor views on the DAO’s intentions and I fear this would lead to more speculation. Tough call.

1 Like
8

Purchasing the cheapest land in the market is a community decision that went through several vote stages, then suddenly this proposal might reverse a lot of the decisions that have been made. I dont think it is that appropriate. But I can see the benefits of buying that 80 land, so i think maybe buying 80 lands and continuing purchasing land is a good option.

9

Hi @MetaDoge, just to clarify, there isn’t any plans to reverse the decision on land buying. The first option is essentially to halt purchasing for 4 months(July to October) to make up the budget that will go into purchasing the 80 plot land. After that the land purchase will start again on the open market. Then again, whether both should be allowed to run concurrently(2nd option) or not to purchase the 80 plot at all(3rd option) is what this poll is about.

1 Like
10

I see, then I don’t know which way is better, but from what i was interpreting regarding the intention of the original Buy-Back scheme was to save the dcl land market floor price that was largely affected by the world feature. But now the focus seems shifting to better land utilization for DAO… (which i think is a good thing but will affect the original intention for at least 4 months) and the issue is if someone spots another good deal, should we buy that again, and then the buy back floor price scheme can be delayed again and again… but i think you get me, since i saw you voted to continue land purchase (^_^)

11

My stance of buying DG’s 80 plot estate is neutral. I understand the value it brings to have a huge estate but the optics of the DAO deliberately purchasing an estate that size, that’s also within a district, and launching a separate proposal from the one that is about to be enacted(land purchase) is something that bothers me. It may set a new precedence and like you mentioned, will we be expecting to make similar block purchases down the road if the same deal comes along again.

I would be fine if it’s the algo from the land purchase buying from a similar location but smaller plots and within budget because it’s what was intended from the start. That way, while the lands flow into the DAO, we can also ensure that supply is met with demand.

It’s also interesting to note how we came from wondering what we are going to do with 15 plots of land a month to doing a block purchase of 80 at a go :joy:

12

Unless there is a already a specific plan for how this would benefit the community (or how it would be monetized and therefore the profits would benefit the community), I don’t see why this needs to be purchased.

Yes, it is a good deal for both strategic flippers and strategic builders. Is that the DAO?

150,000 $MANA is incredibly low for this land and even lower considering $MANA’s also low $USD value. I believe at time of writing this it’s $72,000 USD. But to be clear that’s the equivalent of 16 grants of $5,000 each.

Is there a reason to buy this land that merits 16 fewer people potentially getting grants right now?

That’s how I’m looking at it. My answer currently is no, however I am open to being convinced otherwise.

13

I am unsure how districts work. What kind of association would the DAO have with the district if we purchase land there? Would the DAO be bound by any agreement? Thanks :slight_smile:

14

It’s much easier to find uses for 1 80-parcel piece of land than 15 individual parcels.

15

I was in favor to continue but seeing that its becoming tight with the people that dont want I decided to change my vote to buy the estate + withold the purchase afterwards to atleast have something because thats the most favorable one leading!

16

I’ve changed my vote to not purchase, seeing that DG has just recently listed 4 2x2 estates amounting to 9.2k each. It does seem that the intention is for the DAO to absorb the batch during the June purchase. Include that with this 80 plot estate and we have close to 100 in Vegas District. I vote to continue with the initial plan of monthly purchase with a budget of 40k. IF the 80 plot estate is broken down and still purchased within the parameters of the initial plan i’ll accept it.

17

It’s normal lands, no need for agreements with Vegas and no restrictions

1 Like
18

Im voting no. If we cannot buy it all within the budget we set forth, then no. now if DG wants to break it up then maybe. I don’t think the DAO’s very first purchase right out of the gate should hold us back from buying up some of the land as intended. Maybe reconsider after we have had a chance to see how this plays out exactly.

I’m a little confused to who thinks the DAO’s intentions are questionable. We all here are the DAO. If they have concerns then they should be participating. It’s that simple. Together we will decide the course our world takes. I hope everyone grasps that. Say it out loud to yourself. "My decisions will determine the course of a World’ That is huge! IMO. Our votes IRL don’t necessarily affect the entire world but in here it does. Yes we will not always agree but that is a fact. Maybe im being dramatic I suppose.

19

That’s what the first option is for: “Purchase but don’t buy more lands for 4 months”, so the cost stay the same. Spending 150k MANA at once to buy this land, but not spending 160k MANA over 4 months buying lands and smaller estates

20

Yeah I understand that, thank you. What I am saying is there should not be a reason to delay the purchase of other land for 4 months. There have a few proposals coming through wanting to use DAO funds to buy land. There’s no reason if they are able to have access to some of the land. But then they would have to continue to wait. I don’t see why this was not discussed during the original proposal. Im not gonna speculate on anything but seems a little convenient to me as well.