by 0x447c9058be5c164e0c4aae380381e7a5215052d4 (DHINGIA)
Objective: To establish a minimum price for wearable sales in the secondary marketplace to ensure that creators, developers, and the platform receive fair economic returns, while also maintaining a healthy and sustainable market for digital assets.
Current Situation: At present, wearables earned from games, giveaways, or other events are often listed for extremely low prices—sometimes as low as 0.01 MANA. While this may provide quick liquidity for the sellers, it undermines the overall marketplace and ecosystem in the following ways:
Devaluation of Creator Work: Creators invest significant time and resources into designing unique wearables. When these items are sold at such low prices, it diminishes their value, eroding the perception of digital fashion and art.
Negative Impact on Royalties: The royalties that creators are entitled to in the secondary market are effectively nullified when wearables are sold for a fraction of their true worth. This discourages innovation and participation from creators, who rely on these earnings for continued contributions.
Platform Sustainability: The platform’s revenue share from transactions is also affected, as smaller transactions bring minimal returns, jeopardizing the economic sustainability of the marketplace.
Proposed Solution: We propose setting a minimum price cap for wearables sold on the secondary marketplace. Possible minimum thresholds could be:
1 MANA
2 MANA
3 MANA
By implementing a minimum price for secondary sales, the marketplace can ensure the following benefits:
Fair Creator Compensation: Ensures that creators receive appropriate royalties from every transaction, incentivizing the creation of more high-quality wearables.
Platform Profitability: By setting a minimum price, the platform also benefits from more substantial transaction fees, contributing to the sustainability of the ecosystem.
Market Stability: A minimum price helps prevent the devaluation of wearables and digital assets, contributing to a healthier and more stable marketplace.
Increased Value Perception: Higher base prices will enhance the perceived value of wearables, encouraging collectors to view them as more than just cheap, throwaway items.
Addressing Concerns: Some may argue that a minimum price could discourage users from participating in the marketplace or selling their wearables. However, the introduction of a reasonable floor price would instead encourage users to view their wearables as valuable digital assets worth holding or trading. Additionally, it will prevent mass underselling, preserving the integrity of the marketplace.
Conclusion: Setting a minimum cap for wearable sales will benefit both creators and the platform, ensuring that wearables maintain their value and creators are fairly compensated for their work. This proposal will contribute to the long-term health and sustainability of the marketplace, fostering a stronger and more vibrant economy for digital fashion.
Feel free to share any recommendations or feedback to improve this proposal in the comments.
- 1 MANA
- 2 MANA
- 3 MANA
- Invalid question/options
