[DAO: QmNMZ9s] MAD DAO - Radical Public Lease and Advertisement Bundle Auction Protocol

Governance
1

by 0x2b7f0615979edddeaf83bfec23f66fb5a6d177a4

Should the following Tier 5: up to $120,000 USD, 6 months vesting (1 month cliff) grant in the Community category be approved?

Abstract

MAD is dedicated to facilitating interaction in the metaverse and maximizing virtual land utilization. MAD provides a decentralized protocol for landowners to monetize their virtual lands: landowners can stake lands to MAD and generate yield through two MAD products: Radical Public Leasing and Advertisement Batched Auction.

Radical Market is a land renting marketplace with dynamic interest rates based on supply and demand. It lowers the bar for people to enter the metaverse. For the lands that are not leased out in the radical marketplace, MAD builds billboards on top of them with ads placeholders and employs a bundling auction strategy: all land estates are batched together as a single combined bid to achieve maximum exposure.

Grant size

100,000 USD

Beneficiary address

0x2B7F0615979eddDeAF83BFEC23F66fb5a6D177A4

Description

Many metaverse spaces separate ownership from utilization rights. Still, there is no efficient market for players to obtain this utilization right, making it difficult for users to build in the metaverse. MAD Radical Market is a use right market where players can access the operational rights of land. Radical Market is a decentralized protocol that establishes a land renting marketplace with dynamic interest rates based on supply and demand.

MAD Radical Public Lease land supply builds on DAO-owned Land Pool and community land pool. MAD will raise money to acquire land across metaverse spaces and put it into the DAO-owned Land Pool. MAD will also call for the community landowners to stake lands to MAD in order to list land in the radical market as a source of additional interest. Users who own metaverse lands or estates can stake their land to MAD. After they stake their asset to MAD, we mint a MAD NFT to the landowner in exchange. Once a user stakes his land, the user can still operate the NFT, such as transferring ownership while staking.

We believe that virtual land is only as valuable as what we build on it. To better utilize the lands in the land pool and leave no land empty, MAD builders build billboards with ads placeholders on top of all lands that are not leased out in the radical market and batch auction all unused land advertising rights to the public. The bundling strategy is ideal for both landowners and advertisers: with a collection of lands, the value of parcels will increase and can put the lands into greater use; for the advertisers, with larger and more land parcels, they will gain more exposure to their business.

Why are we applying for Decentraland Grant?

Currently MAD is at a very early stage and we are raising money from the community to support the development. Decentraland dev documents are the most well structured and easiest to integrate among the major metaverse platforms. It allows us to interface with the smart contract and elaborates the functionalities such as land operator, land manager, etc. We are confident to build out the entire product on top of Decentraland functionalities and eager to get support and feedback from the first metaverse platform that we are building on.

How MAD can benefit Decentraland Community

Landowners Community

MAD protocol can help the existing Decentraland Landowners monetize and generate additional interest on the land assets through Radical Market and Advertisement Batch Auction. \MAD can also help landowners who don’t know how to build easily find builders through our buildersDAO bounty board.

Builders

Decentraland has an excellent builders community who are passionate and eager to build. Under MAD there’s a buildersDAO where builders can find bounties more efficiently, and our product Radical Public Lease allows them to get into the space at a lower price. It is essential to both the builders and the Decentraland game because, on the one hand, the feature lowers the bar for both existing and potential builders to get into the space and build. On the other hand, getting more builders to the space is what all metaverse platforms want: we want the world with fully creative builds.

General Community

MAD’s Ads Batch Auction and Radical Public Lease lower the bar for the general public to enter the space. Building on top of Decentraland, MAD could attract more people into the Decentraland world.

Specification

Front end framework: Typescript React

Product 1: Radical Public Lease

Product 2: Ads Batch Auction

  • Set MAD builder address as operator of the unused lands in the radical market [Smart Contract]
  • Auto deploy billboards over all unused land parcels [decentraland builders sdk]
  • Auction; Auctions are held once per epoch and a single epoch is for two week. [Smart Contract & Front End]
  • Auction winner uploads ads content; auction winner can upload the ads poster on MAD. Then we automatically deploy the poster over all the unused lands. [front end + back end + decentraland builders sdk]

Land Staking

  • Show landowners’ land data[Smart Contract Subgraph & Front end]
  • Land Staking [Smart Contract & Front end]
  • Yield Farming [Smart Contract & Front end]
  • Profit Breakdown [Front end]

Personnel

Claire Ma - VR Researcher/ DAO Moderator
https://www.clairema.com/
Mike Ma - Community Moderator
Neptune - DAO Builder (Smart Contract)
boyuanx · GitHub
John Wu - DAO Builder
Jordan Bettencourt - DAO Builder (Front-end dev)
jbettenc (Jordan Bettencourt) · GitHub
Marcos - BuildersDAO Moderator
Olivia - Branding & Product Designer

Roadmap and milestones

Product

January 2022 - Advertising Auction Demo @EthGlobal
March 2022 - Radical Market Demo @BuildQuest Hackathon
Mid May 2022 - Radical Market Launch (with MAD DAO owned land)
Mid August 2022 - Advertisement Auction Launch
December 2022- Open staking portal for landowners
2023 - expand to more metaverse spaces

Smart Contract

Mid May 2022 - Finish Contract and Start Audit

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

2

Such a promising project. I wish to learn more about how you use harberger tax in radical market

2 Likes
3

It’s linked in the article. Looks like the higher bidder always gets the land

1 Like
4

I do not like the idea of land rentals being priced based on “how much income they can generate”. What is the price of an experience? a friendship? a new connection?

We already have a land rental system and the bidding format in the medium article will be open to misuse. Can you explain more why “Harberger Tax is not going to be a problem in the Metaverse.”? I can still see situations where whales and bad actors can outbid smaller community members to overtake their land.

Can you please provide details if you have received any funding from other sources? Why do you seek funding from decentraland if you seek to operate in other metaverses as well? It seems like we will be footing the bill for you to generate income elsewhere, once completing the contracts and DAO work.

2 Likes
5

I voted no on this proposal, but want to share my reasoning. This sounds like an interesting and potentially beneficial endeavor, and I saw some vibrant back and forth about it in the DAO channel of the main server.

My opposition to the grant is straight forward: I do not believe in the commodification of public space and do not want to see Decentraland littered with billboard ads.

Otherwise to me this sounds like a great endeavor, but I understand how this revenue stream might be essential to your business model. I personally just can’t in good faith vote for something I don’t want to have to experience in world.

UPDATE: After seeing some of the well thought out support for this proposal. I have changed my vote to support it.

1 Like
6

I really liked this proposal. Voted YES! :slight_smile:

Looking forward to stake some of my lands to MAD. Agree with @Matimio’s concern on ad saturation in the long term. For now, transforming empty lands to ads is OK in my opinion, but I think the MAD DAO should look at other revenue stream opportunities in the future.

1 Like
7

This proposal is very detailed and I read through the project’s whitepaper and roadmap. VOTED YES. I think the whole thing is promising because:

  1. Not only does it build products, but also connect players together. I remember a time when i had to spend 4 eth just for a single build.
  2. It’s good for the metaverse in general. I know @Matimio thought he doesnt like billboards in the space but I think it’s better than what it is right now: empty spaces. Also currently most builds are offices, event parties. Public spaces in the metaverse are spaces for people to do marketing. Metaverse build is just another form of advertisement. Plus, I looked into MAD’s past events and it looks like they are not just building empty billboards. I found that they are building gallery spaces for nft artists, and just putting billboard on the surface of that build.

anyways good luck and look forward to what you actually build

9

Something isn’t adding up here. I received no response in the MAD DAO discord and the twitter is all marketing copy. They made an announcement today that they have released the features they are asking for grant funds for.

I went to their radical market to lease land and the minimum bid amount is .01ETH per DAY! Some land owners are charging .01ETH per month, how is this making rental cheaper??

10

I appreciate the goal of making land more affordable for builders, but I’m not sure that this proposal will do that, especially given the bid pricing that Mattimus mentioned.

There also doesn’t seem to be anything to prevent predatory bidding practices. It takes a lot of time and effort to build a good scene, and it would be damaging if someone else can make a higher “radical bid” and swipe the land away from a live operator with just a few weeks’ notice. Bad actors might poach a thriving space in order to benefit from previous traffic or even to put a competitor out of business.

Finally, I have concerns about filling unused spaces with advertising. I’d rather see an open wilderness area than a sea of random billboards.The latter would make running through Decentraland a terrible experience. Advertising is fine if it’s done thoughtfully and targeted to viewers, but this seems like a free-market-rules-all approach without guidelines or controls. Perhaps the team can address some of these concerns and come back with a more nuanced proposal in the future?

11

MAD DAO - Radical Public Lease and Advertisement Bundle Auction Protocol

This proposal is now in status: REJECTED.

Voting Results:

  • Yes 52% 2,110,197 VP (61 votes)
  • No 36% 1,459,691 VP (9 votes)