Hello Jarod, you are right in pointing out that this proposal will generate revenue for our team through the comissions on each transaction, however i would like to clarify a few points to provide more context:
Accelerator Fund: This proposal has been submitted under the Accelerator Fund category, which is designed to support projects that can drive growth and innovation within the Decentraland ecosystem. Our e-commerce integration aligns with this goal, as it aims to attract more brands and users to the platform while providing a unique and engaging shopping experience.
Revenue Generation for the DAO: As part of our commitment to the Decentraland community, we have included a revenue-sharing model in our proposal. We will allocate 30% of the lifetime earnings generated by the product to the DAO, ensuring that our project contributes positively to the growth and sustainability of the entire ecosystem.
Self-Sustainability and Long-Term Viability: Our team is confident in the projectâs ability to become self-sustainable once launched, thanks to the commission-based revenue model. This means that we do not foresee the need to request additional funding in the future. With a dedicated and experienced team behind the project, we believe that our e-commerce integration will continue to evolve and adapt to the needs of the Decentraland community.
I apologize, I did not realize that the Forum posts generated from governance proposals will cut short, and had missed this section, as it isnât included in the body of the forum post.
I would still however like to hear about the ROI of your previous 60k grant and what evidence there is from that to suggest this will be a worthwhile use of DAO funds.
What data validates the hypothesis that you will generate enough revenue to cover costs?
What percentage do you expect to charge on each purchase? Why would someone choose to reduce their profit margin further, on top of the fees that these platforms already charge?
What is the incentive to use this platform vs. a linkout to the e-commerce site where all of this functionality already exists? The steps to authorize payments seem like they will be too cumbersome and negate the convenience of purchasing in-world. If you are storing the oauth payments tokens does that mean these would be able to charge the userâs credit cards unwillingly, if somehow hacked or extracted? If so, who will have access to this database?
How are the purchases tracked if the purchases are made through external platforms? How will you receive payment for the purchases? Will you be tracking all of the data for userâs purchases? If so, what data protection standards will be in place and what is the terms of usage for this data? Will you sell or use the data?
Have you compared expected revenue in a flat monthly fee model vs. rev share? Do you have any data for the revenue projections that show the $150,000 paid back in 24 months?
Hey mattimus, thank you for your questions, im gonna address them in order:
Commission percentage: We plan to charge a 5% commission on each purchase. While this may reduce profit margins for brands, our integration offers an additional sales channel, same as when a brand engages on a b2b relation for example on a broader marketplace, on the other hand, we are offering a unique and engaging shopping experience within the metaverse that could potentially attract more customers, increasing overall sales and offsetting the commission fee.
Why use our platform: Our goal is to make shopping in Decentraland more fun and engaging by letting users explore virtual stores and buy items within the metaverse. This new way of shopping, together with the ability to shop with friends from anywhere in the world, adds value for users and can make them more likely to shop in Decentraland instead of using external links.
Payment security: We understand the importance of payment security and user privacy. In the case of crypto the integration shouldnt be hard and the user authorizes each transaction. In the case of fiat, the worst case scenario is that the payment will be confirmed on an external window, there are some payment gateways which could allow us to do the behaviour we are after but we need to cover payments from all around the world so we are still deciding the best approach for this.
The purchases are tracked since each ecommerce will have installed a dedicated plugin which will allow us to communicate with each of the stores
We would not sell the data at all and there is gonna be a clear privacy policy about how we handle information which will of course adhere to data protection regulations and applicable standars.
While we have considered other revenue models such as a flat monthly fee, we believe that a commission-based model provides a more scalable and sustainable solution. It aligns our incentives with the success of the brands using our platform, encouraging us to continually improve the experience for both brands and users. While we cannot provide exact revenue projections, we believe that our solutionâs potential to attract more brands and users will enable the DAO to recover its investment within the estimated 24 months.
And lastly, we are expecting to launch the NFT dashboard by the end of the month and all the code will be available for anyone to use! We are very excited for this and very happy with the input that the community has provided during the testing session
âUsuallyâ would suggest you didnât make the account within 5 minutes of posting.
Considering how many people believe Gabe uses sockpuppet accounts to promote his ideas and harass people, I would expect them to assume your praise is fabricated.
I understand your concern regarding the first grant.
Our team has already shown great results by demoing the product at the DAOs town hall meeting and during testing sessions. We believe its important to keep our team together instead of dismantling and start over, thats why we are applying for the second grant to deliver this full end to end solution for brands to be able to sale any kind of assets wether they are digital or physical assets from within the metaverse.
We wouldnt have two grants overlapping at the same time, its a continuation after sucesfully launching our product
I understand your concern, but I would like to assure you that I am not using any fake accounts to promote my ideas. If there were a way to prove that itâs not me through IP verification or any other means, Iâd be happy to do so. If we can get a mod involved, i would be more than happy to probe this to you.
Lets focus on the merit of the proposal and the value it can bring to the Decentraland community. I kindly ask you to refrain from making assumptions and engaging in a negative manner. Lets keep the discussion constructive and productive for the benefit of all involved.
I understand that you have an excessive hatred against Gabe and that you are also obsessed with him. But please donât make those assumptions about me. In the past we have already discussed on the decentralgames discord. If you want proof, my discord user is: Chainz#9328, if you have something to tell me, my DM is open.
I had a long conversation with Gabe tonight about the plan, the sharing of revenue permanentlly with the DAO, about the use cases this will support, and about the technical requirements.
I believe that this would be a great value to the community - enabling real ecommerce in-world, long term brand/store presences, and ease of use for both visitors and vendors. I am voting yes, and have offered to advise as needed, and plan to use the results.
@ggsk22 Unfortunately the community decided against the boson integration in this proposal. This included a full in-world build with the integrations and case studies for $30,000 less than this proposal.
