Skip to content

Restarting Land Buyback 2.0

PassedPoll

Proposal Details

Author0x8218…0d59
PublishedDec 24, 2024 03:59
Voting beginsDec 24, 2024 03:59
Voting endsDec 29, 2024 03:59
Snapshot#c5f4ef2

Description

As stated in the headline. The recent NFT season has shown that with increased floor prices, OG collections like BAYC, Pudgy Penguins, Azuki etc are roaring back to life in terms of engagement. NFT volumes have also increased tremendously in the same period. The concept of "cheaper is better" doesn't ring true. Truth is, DCL LANDs have lagged behind, badly. Nobody's interested in purchasing LANDs if it's Floor Price(FP) is "dead". People complained about high LAND prices in 2021/2022, but that was also the time DCL had the most engagement. The same people who've complained about this then, have also left because floor price is dead now. We have to start rethinking about how the price of LANDs affects the perception of the project. I'd propose to restart what I started, with lower thresholds considering FP is also lower now. We can hold on to our ideals of "let the markets speak for themselves", and have our floor prices die a slow death, or tap on unused funds to bring LANDs back, get people's attention, and rebuild DCL's engagement. I'm open to all inputs for people who are supportive of this. Land Buyback 1.0: https://decentraland.org/governance/proposal/?id=a315f220-e31b-11ed-ae6b-bdc7e2b26a35

Voting Rationale

0xB222…4C4fYes87,725

I think lands are undervalued.. buy back all the land and reinvent the game..

10 Comments

BETMar 13, 2025

What's the next step?

CheddarQuesoDec 29, 2024

I would like to see the DAO build a strategy for land management, purchase, sales, distribution before restarting land buybacks. I agree with @pablo. We should not purchase land with the sole purpose of manupulating price. It will take time but we can in rease the value of land in healthyband sustainable ways by providing more access, utility and tools for building.

daoDec 29, 2024

Restarting Land Buyback 2.0 This proposal has been PASSED by a DAO Committee Member (0xbef99f5f55cf7cdb3a70998c57061b7e1386a9b0)

daoDec 29, 2024

Restarting Land Buyback 2.0 This proposal is now in status: FINISHED. Voting Results: * Yes 68% 630,598 VP (35 votes) * No 31% 287,167 VP (4 votes) * Invalid question/options 1% 5,563 VP (1 votes)

BETDec 28, 2024

Buy it all back and make a global game like WOW or RS.. Opensource.. Lets actually retain some users..

OzymandiasDec 27, 2024

There is great need for a detailed cost/return analysis before such Proposal can reasonably be set forth. Things underlines my point that one of the entities (perhaps the only one) that the DAO community should seriously be considering employing with DAO Treasury, is a professional Board of Advisors, who could perform such analyses upon request.

pabloDec 27, 2024

I'm a LAND holder that represents an important part of my own economy, but I'm not a fan of speculation and market manipulation, I would prefer to bring **real value** to the LANDs by having a good platform and enriched ecosystem

3Point1FourDec 27, 2024

Hey @Canessa, great questions! None has been built on and deployed. No passive income has been generated. None have been issued as prizes/rewards. And the reason is simple. https://decentraland.org/governance/proposal/?id=19e40b90-3b1d-11ee-9496-2daa447e4bf3 Not enough support was given on a dated proposal. And then there's a more current one that's recent: https://decentraland.org/governance/proposal/?id=3f0f0e9d-f234-451f-abb4-e09186e7c387 I do hope that that proposal makes it through governance. I won't sugarcoat my main aim of restarting the LAND buyback, and its to support LAND prices, period. As for the reason? As stated in the proposal, it's to [quote="dao, post:1, topic:23474"] bring LANDs back, get people’s attention, and rebuild DCL’s engagement. [/quote] Is this the best way? We can both agree it isn't. But DCL isn't exactly in the best shape. In fact, it isn't in any shape. The only advantage it has right now? Funds. I intend to propose using 50k MANA per month to support LAND prices, that's 600k in 1 year until the proposal ceases. There's 45m MANA, and 600 ETH in the treasury.

CanessaDec 26, 2024

From your original proposal: > The purchase and ownership of LAND/ESTATEs will expand the DAO capabilities in 5 ways, primarily: > > 1. To organise events/activities such as town halls etc. > 2. Generate passive income to the DAO by rentals. > 3. Provide LAND to grantees who require space to deploy. > 4. Allow the DAO to create scenes all over Genesis City that may lead to a better experience for users, such as kiosks that may provide ‘ATM’ services etc. > 5. Possibly used as rewards/prizes for any events organised by the DAO. Can you provide data on how many parcels of land already bought back from the DAO have been built on and deployed in world? How much passive income was earned by the DAO through rentals of these LANDS? How many LANDS have been issued as rewards/prizes through the DAO? Thank you!

PunkPinkDec 24, 2024

It is clearly visible that the more expensive an asset is, the more desirable it is to the mass public (regardless of whether the investment is adequate or not), a project with low-priced NFTs is always less attractive, in fact it encourages holders to get rid of their assets, creating downward pressure. I support your proposal ✅, since I believe that it is appropriate for the DAO to acquire plots to develop content and experiences that add value to the ecosystem and encourage user participation. This, together with other strategies, will organically contribute to strengthening the price and possibly increasing the value of the assets associated with Decentraland.