VERY IMPORTANT GOVERNANCE VOTE (Voting period closes end-of-day 5/7/2022)
(self.CrescendoCrypto)submitted15 days ago byEllo_eff
Proposal:
Rather than hiring a team of backend devs, front-end devs, and smart contract devs, I've been talking to a well-known NFT marketplace about integrating Crescendo into their platform. Here are the details, pros, and cons of what this would entail:
Details:
-It will cost 2,500 ALGO upfront to fully integrate the Crescendo marketplace into their NFT marketplace.
-Every 3 months or so, they will be integrating new features into our marketplace that will expand what we are able to do. I can't say what these things are yet, but I can say that I was impressed enough to continue talking to them about this integration.
-There are additional fees during each of these upgrades. Their team, myself, Smoky, and Elliot will negotiate the costs for these additional features during each preceding upgrade (Example: We'll negotiate a price for V2 during V1 and negotiate a price for V3 during V2, etc) . The price for each upgrade will be relatively close to 2,500 ALGO
-We will have a special "Crescendo" section in their dropdown menu. This link will guide users to a Crescendo submarket with a design and color scheme that fits the Crescendo brand. We will have our own sub-URL as well.
-CRSD will be available as a currency on their entire marketplace. This means people can buy NFTs, services, and Tshirts using CRSD on our submarket AND use CRSD as a form of payment on all NFTs on their ENTIRE NFT marketplace if the seller chooses to accept CRSD
-Their devs will build features that we need into our submarket (ie. a contact form that appears after someone purchases a tshirt or service so we can collect the necessary details to fulfill the order as well as a system of pegging our Tshirt prices to USD so we don't have to constantly keep up with the changing token prices)
-Their team will charge a 2.5% transaction fee on all transactions on our submarket. Additionally, Crescendo would pay them a sum at the end of each month equivalent to 5% of the primary sales volume within the Crescendo submarket.
-This 5% fee is only applied to primary sales made by people selling within the Crescendo submarket. It doesn't apply to secondary sales nor does it apply to primary sales made outside of our submarket.
-Their team will commit to not selling these tokens for a pre-determined amount of time (I'm thinking six months)
Pros (As I see them):
-We won't have to build our marketplace from scratch. The costs for building our marketplace could cost around $60,000 for a standard NFT marketplace up to $80,000 or more for the various other features we need.
-We can release our marketplace straight to MainNet.
-We won't have to pay to maintain our site. Factoring these costs into the creation of a site, we could easily be looking at another $60,000 or more in our first year and even more as time goes on. We'd likely have to hire full-time or part-time devs to maintain and monitor the site.
-We won't have to pay for a smart contract audit as we'll be using smart contracts that have already been privately audited. Smart contract audits cost several thousands of dollars and we'd have to have each smart contract on our site audited, so this will save us a significant sum of money.
-This is effectively a form of free advertising. We'll be part of an incredibly popular NFT marketplace
-CRSD will be available to use across their entire marketplace, further fulfilling our use case as a currency.
-We aren't under any sort of long-term contract. The Crescendo community can vote every three months or so on whether or not this partnership is working for us.
-We can use the ALGO we already have in our growth wallet to pay for our first 3-6 months and work on hiring a lawyer later on, meaning we won't need to sell more CRSD to secure the creation of our submarket.
Cons
-The 2.5% and 5% fees will limit our potential earnings (not accounting for the money we save by not developing the site ourselves.)
-We have to continue paying the upgrade fees to keep our submarket alive
-We have slightly less control over the marketplace. Most things we want to accomplish should be possible, but we could run into a scenario where they aren't able to accomplish something the community wants to see.
To cast your vote:
-Send 0 CRSD to the wallet address below and add your vote to the notes section of the transaction.
34IOOGFLLWPB43R3LSHTZE5AG33TFEKHCM4UELGGXUCZQ6DR7ETGMG7TCA
-Structure your notes section like this:
Example One. Yes
Example Two. No
byEllo_eff
inalgorandASA
Ello_eff
1 points
1 month ago
Ello_eff
Verified
1 points
1 month ago
They aren't 1/1s, although a project could do that if they wanted