[DAO:f241537] Is MANA dropping due to the 2.0 "release"?

[dao]

by 0x55651e399ca32d7e2f44034fb62996937af0bc49 (Ozymandias)

Market investors will go and buy stock in a company, when it releases a product which they think is promising.

Market investors will instead choose sell the stock that they may have in a company, when it releases a product which they think is not promising.

So it is easy to tell right away the view of market investors about a product release.

It is quite arguable that the fluctuation of MANA, the token at the heart of Decentraland’s economy, can be used as a similar measure of success.

• Yes, Markets say 2.0 is a flop
• No, the Markets will turn around
• Lolwut? I was away for a month
• Invalid question/options

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

[Ozymandias]

[HPrivakos]

[Ozymandias]

Indeed ! As is communicated in @Leandro’s report,

@leangodotdev

Key aspects of the rollout lacked communication and pre-release documentation, impacting the coordination across clients

The #private-alpha channel was set-up as a means to coordinate the alpha testing of a product, there was no communication about it being final steps before a release…
Which was a surprise, as standard Software Engineering businesses hardly ever move directly from an alpha testing session to production.
And especially not when the product is clearly not ready upon the conclusion of the alpha testing.

[Ozymandias]

The Alpha Testing seemed to indicate something promising was afoot !

And suddenly this unfinished prototype is actually pushed into production ?

[jar0d]

No. The overwhelming majority of MANA holders have never engaged with the dao, and most are probably unaware it even exists.

[OnSr]

No, because DCL’s problem isn’t the explorer. Alternative clients would otherwise boost user count. Just like SDK7 didn’t boost anything. DCL lacks proper advertisement, content to advertise and proper management to stream funds to develop content. We have seen many interesting concepts in DCL but I haven’t seen any decent project lasting more than a couple months. Metaverse is supposed to be an alternative to real life but you can’t really “do” anything in DCL other than chatting and wandering through “static content”. Even DAO doesn’t utilize the metaverse aspect of DCL. For example, every discussion is held either on Discord or Spaces.

[Huepow]

This launch is pure madness and reminds me of USSR tactics - showing off publicly on X like everything is good while in reality it’s a total disaster

The MANA price and Land prices in ETH on OpenSea have shown negative reactions to the 2.0 launch (see screenshot). The price of 0.075 ETH (approximately 630 MANA) is historically low we can say

There are many reasons why this shouldn’t have been launched as the main public product:

1. There has been no public announcement addressing the MacOS M chip series problems with 8GB RAM, where clients experience issues like:
   • Builds not loading
   • Genesis Plaza problems
   • Backpack issues
   • Teleport errors
   • Invisible people
     Despite multiple requests for public announcement about it on Discord, it is still remained silent.

Windows systems don’t have these problems with 8GB RAM, so the change in hardware requirements page seems illogical.

Consider how many people in the web3 space use 8GB RAM Mac products (MacBooks, Mac minis, iMacs with M1, M2, M3). MacOS typically has excellent RAM memory swap from SSD and can run most applications smoothly.

2. The lack of features from 1.0 makes it unreasonable to present this as a public beta while replacing the previous client with all its useful features.

3. The lack of optimization with rich graphic settings is unthinkable as it should be a fundamental feature.

The public reaction speaks for itself: 7 million views on X for the trailer, but only 167 retweets and 1k likes.

Version 2.0 in its current state shouldn’t be presented on X as the main product or promoted as something fun and amazing. Instead, it should be:

• Presented as a secondary test client
• Updated regularly with testing versions and post on X about each update improvement
• Maintained alongside the working 1.0 client

In my opinion, it’s not too late to take this approach

[Ozymandias]

@OnSr

I haven’t seen any decent project lasting more than a couple months

Could that be because you are missing the bigger picture ?
Decentraland itself has been in existence for at least half a decade already.

[pablo]

I think 90% of the $MANA price today is driven by the overall altcoin market.

I think we, or the Foundation that is who have the funds and resources, should care about having a rich enviroment inside Decentraland apart from the value of the coin; which of course, could be receiving more value if some things were better, we just need to look at statistics and be results-focused to be aware of it. In any case, some people argued that the problem was having an explorer on the web (for me the problem was not the web but regression issues and lack of engagement), let’s wait 3 months and look at the numbers and feel if the environment is enriched, entertaining, and attractive for more people and growing.

But I doubt the Explorer is affecting the $MANA price too much today, also I doubt that a only new Explorer that just works well will improve many things.

[Ozymandias]

@pablo

driven by the overall altcoin market

Unlike MANA, the “overall altcoin market” appears to have returned to higher levels from before the drop on the 26th.

[jar0d]

Land prices are dropping because DG is selling all its land. That has to go some where.

Mana price is dropping because despite Grants being frozen the DAO is selling millions of dollars worth of mana to buy eth.

Mana went up in the short term because people bought mana to submit items for the wearable contest, and additionally people bought mana to buy those wearables.

now that there is once again nothing to do with mana other than buy the same wearables you could have bought at any point over the last 2 years, mana is going back down.

I think disrepsecting the work of the marketing team, and members of the community genuenly enjoying themselves with the product as USSR tactics is a bit unreasonable.

[Huepow]

I’m sorry, but disrespect? Unreasonable? This is nonsence! Have you even got login into the client and try things out? My post here has nothing to do with disrespect. It is a facts that being ignored andcontinuing concecqunces that go in the opposite direction.

If you have the oposite data - please share, otherwise you are the threat to transparency since you supporting this move.

About USSR tactic is pretty much justified there:

In USSR they had as well REAL bad reports from across the Soviet Union, and the official good stories that was wroten.

Here is some wonderful quote from that era :

" - Sometimes, people paint over the cracks in a wall instead of fixing them. They think if no one sees the cracks, they don’t exist. But the wall is still broken underneath.

• But won’t the wall fall down eventually?

“Yes, little one. Eventually, all painted-over truths come to light.”

Problems being hided from the public annoncment despite asking for annoncment about it, publicly not once.

Marketing team since you mention, keep activly making a posts like those problems doesnt exist. It is to me a 0 transparency on real product state

If you being ok with it, then we dont have anything to talk about

Besides:

I got successful launch into TicTok Tuesday in Worlds ( not at first). My backpack loaded, i did see people, but around 80% of the Werarables was impossible to change. And when i did change my glasses succesfully, others didn’t saw it. Other person had the same issue with his wearables, that he changed and others didnt saw it, while avatar maintaining a previous werable on him for everyone around.
Emotes was emposible to change complitely from the list.

Other times, i see a park of the trees in empty Genesis City

About mana price:

I made this screenshot in October 31, 2024, 00:09 AM UTC

On the bottom of the screenshot you can see “Others” Excluding Bitcoin and Ethereum

• 0.23% and only DCL is being -0.20

It is a bleed against majority of the market to me and clear indicator that something is wrong with a launch proccess.

Wearables and contest has nothing to do with MANA since on the technical analysis it was pumped in short term just to touch 200 Days EMA and it got rejected , because of the ACTUAL REAL contidions of the 2.0

[jar0d]

@Huepow

Have you even got login into the client and try things out?

It’s hard to bring myself to read the rest of your essay when I’ve logged into the new client just about every day since it launched and have genuinely enjoyed myself while well aware of its flaws and still missing features.

I am unclear why you would think that was a respectful way to lead into whatever point you hopefully go on to make

[HPrivakos]

@jar0d

Mana price is dropping because despite Grants being frozen the DAO is selling millions of dollars worth of mana to buy eth.

We sold ~1.2M MANA this month, it’s nothing in the grand scheme of the market.

@jar0d

Mana went up in the short term because people bought mana to submit items for the wearable contest, and additionally people bought mana to buy those wearables.

Also very negligible in the grand scheme of things. Even if there was 1000 wearables (which there wasn’t), that would have been ~300k MANA, which is nothing for the market, that’s what we can sell in one go on Uniswap without impacting the price that much. (and Uniswap has a very very small share of the market.)

[jar0d]

@HPrivakos

We sold ~1.2M MANA this month, it’s nothing in the grand scheme of the market.

It is pretty hard to believe there is actually $25m in daily volume for MANA. I can’t fathom who these buyers are.

But fair point, I suppose my hypothesis that the limited amount of time where there was actually a reason to buy MANA would impact the price movement if there are tens of thousands of idiots buying a token they have no intention of using by the millions.

[Huepow]

I mentioned the point in my previous reply at the end, i will screenshot it for you just to save your time:

[Ozymandias]

@jar0d

I think disrepsecting the work of the marketing team, and members of the community genuenly enjoying themselves with the product is a bit unreasonable.

I think it is just as reasonable to consider the members of the community who are not genuinely enjoying themselves here.

@jar0d

It is pretty hard to believe there is actually $25m in daily volume for MANA. I can’t fathom who these buyers are.

It is hard to believe that you cannot read a chart. It is more likely that you did not fully try to process the information that has been presented here just quite yet.

It may sound painful at first. But the first step in solving a problem is recognizing it.

You should trust that this problem can still be solved !

[MetaDogeisme]

Good to see @Ozymandias discussion about MANA. The Mana did not go down just because of Client 2.0, it is because maintaining good value for MANA has NEVER been a goal for both foundation and the DAO. I think MANA need to go a bit more down to finally raise the alert to the foundation that they are running out of money, but if the price staying at 0.3 usd , i dont think they will be ever care about that. Not to mention the DAO…

[Lounge]

its me. Operator Leezee… i am always in favor of immersive enviornments so I hope to see Level 2 intergration soon to h ave all our media ready to play. But, i will say the new landscape elevation update is nice. getting metas/matic-chain working and fixing the controller would be my first priorities… well, i"ll be over in the Lower West Side trying to fix up my shoppe now…