ApeCoin DAO’s Otherside Strategy - Acquisition of assets and usage

PROPOSAL NAME: ApeCoin DAO’s Otherside Strategy

PROPOSAL CATEGORY: Ecosystem Fund Allocation

PROPOSAL AUTHOR: DIM, Metaverse WG Steward. In coordination with David, Metaverse WG Steward.

ABSTRACT:

As we know, Otherside’s primary currency will be ApeCoin. To that extent it’s important to reflect on an ApeCoin DAO presence within the game and outside of it. At this stage, the goal is to open discussion with the community and gather feedback for the AIP.

The strategy is separated in two parts: Acquisition and Usage. What assets should be acquired by the DAO and how they should be used.

Different types of assets to acquire:

  • Otherdeeds: Decoupled or not
  • Vessels and Maras
  • Kodas
  • Relics

BENEFIT TO APECOIN ECOSYSTEM:

Here is a non-exhaustive and evolving list of how the DAO could use their Otherside assets to benefit the community and the DAO.

Community

With Yuga supporting delegations and making the hot wallet the main wallet to claim benefits we can also bring new mechanics and usage to the assets.

  • Offering the delegation of assets (ie: the power of a Koda for 2 weeks to use in LOTM) to the community via partnerships.
  • Demo access: Community members who don’t own deed and are interested to participate to demo trips could do it using the DAO Assets.
  • Giveaway of lower value assets like Relics.

Content Creation

  • Stimulate content creation by delegating assets to creators who wants to do tests/reviews of the game (LOTM etc).

Building in Otherside

  • ApeCoin headquarters
  • Checkpoints: on smaller lands across the map and activated them during special events. If Otherside is built on a Layer 2 with very low gas fee we can imagine small reward distributions (1 or 2 ApeCoin for a task).
  • Promoting passed AIPs on lands through activations.

Participating in Otherside

  • The DAO could leverage the assets they own by participating in the different activations such as LOTM by farming sediments and collecting loot for future use.

Possible revenue stream

  • Platforms like Zharta allow holders to rent their assets. The DAO could rent their Kodas in return of ApeCoin providing a revenue stream that can be allocated to the activations in Otherside.

STEPS TO IMPLEMENT & TIMELINE:

The Metaverse Working Group will be tasked for the execution of this proposal.

Steps and timeline to be defined but rules will be established at different levels in order to make the buying and holding process fair (no assets will be bought from the working group) but also in order to avoid any unwanted behavior such as people buying and re-listing assets at an higher price.

OVERALL COST:

This strategy can be implemented with or without a big amount of assets. We are asking the community their opinion on the amount that should be allocated to the strategy.

FEEDBACK POINTS:

How much should the AIP ask in order to pursue the Otherside Strategy?
  • 200,000 US$ in ApeCoin
  • 500,000 US$ in ApeCoin
  • 800,000 US$ in ApeCoin
0 voters

Hey Dim!

Great job on this and excited to see such great vision here. I also think it’s an awesome idea to open up these resources for the community to use through delegated wallets. How cool is that!!

Looking forward to seeing this come to fruition!!

AC :sunglasses:

8 Likes

Exciting proposal from ApeCoin DAO for the Otherside Strategy, emphasizing community involvement and innovation in asset rental. :smiling_face_with_three_hearts: :top:

7 Likes

Interesting proposal, Dim!

I think it makes sense that the DAO has a presence in Otherside. It makes sense that it has assets allowing the DAO to highlight different use cases and how APE can be used by Voyagers.

The DAO could ask for enough funds to start with a smaller amount of assets to try these initiatives out and see what works best. Maybe something like:

  • 5 to 10 Kodas
  • 5 to 10 deeds
  • 10 Maras of different roles (hunters, farmers, enchanters)

If the initiatives are shown to be effective, then the DAO could think of increasing or not the size of the initiative.

PS: Zharta will be available to help in the execution of this AIP. Several points presented are already possible to be done using Zharta, not only rentals. The DAO can use Zharta to rent out assets but also to delegate them to other community members through different initiatives. The DAO can deposit the assets and then manage them to implement all these initiatives. Zharta is also available to develop the necessary features to enable other use cases that may be relevant.

8 Likes

Another AIP imo failed as the clarity around this point was very specific in the written AIP, however on spaces the author made it clear use cases could be any (not limited to gaming rewards) and decided on by a DAO vote (which many liked, but was meaningless tbh as the written AIP didn’t relay this and was already up to vote). So perhaps let’s not hardcode in use cases, leave them open, if a communtiy member comes up with a good idea they would submit an AIP detailing everything and then the communtiy would discuss and decide via a vote as usual. (Possibly ring-fence some for certain purposes etc etc, but communtiy seemed to like non-defined more.)

Tl;dr the wallet would be controlled by the DAO (or at least a set percentage of the assets) and usage would be decided on an individual basis via AIPs and then communtiy voting.

GL with this. Prices for these assets are still low right now, so seems like a good time to buy and own pieces of our future.

2 Likes

Hey @CypherGlaze - appreciate you submitting this. I’ll give you my general POV.

While I certainly see value in this general concept, from my perspective the value of $APE already critically hinges on Yuga and what they do or do not deliver via the Otherside and their other games. This concerns me as their most recent offerings haven’t inspired me to believe that they’ll have what it takes to make a true mainstream hit. I also think the odds of the Otherside being successful at scale are minimal. Games are really hard to make, and the Otherside is incredibly ambitious. I think they have a real challenge to deliver against the (IMO unrealistic) expectations that the some of the web 3 community have for it.

So rather than the DAO doubling down on what Yuga is up to, I’d rather see the DAO use the funds to diversify into other non-Yuga related projects that have a shot at gaining attention. Do things like identify talented indie developers with proven track records and bootstrap them to build a game around $APE. That’s also a “gamble,” but IMO one with a larger upside.

But, should this be pushed as-is, I’d just strongly recommend NOT buying grail assets like Mega Kodas or central island lands. The prices just don’t make sense. Even at their currently deflated values from all-time peaks. I’d argue basically all Otherside NFTs have a value attached to them that speaks to a game that has been released and gained some level of meaningful success. I don’t think it’s an ideal place for the DAO to basically speculate on the future potential value of Otherside assets, or the future potential success that it has. I’d rather let individual investors do that and take on the associated risks, while the DAO focuses on diversifying to build the most resilient and sustainable future possible.

Thanks again for the submission, and good luck with wherever it goes! :slight_smile:

6 Likes

Thanks for the reply Pirex, appreciate you taking the time for feedback and for proposing help. I’ll definitely be in touch with you very soon!

4 Likes

Hi Matt, thanks for taking the time. Posting at this stage with feedback requests was to gather as much opinions and comments as possible.

You are making a lot of valid points, in regard to the focus on other game/metaverse/creators etc we are doing it too. This strategy for Otherside but more will come very soon.

7 Likes

Great point, yes the usage will definitely not limited to the ones that are mentioned here. I will definitely mention it. I like the idea of votes but maybe not a full AIP for each.

5 Likes

Love the idea"Stimulate content creation by delegating assets to creators who want to playtest/review (LOTM, etc.).".

It’s easy to envision the scope of this proposal, and it will undoubtedly help onboard more users. Implementing it on Layer 2 will also accelerate ecosystem development. Overall, I believe it’s a great proposal that provides a broader vision for the metaverse.

Great job!

CC @CypherGlaze

4 Likes

The ApeCoin DAO’s inspiring Otherside Strategy proposal showcases commendable community focus and asset rental innovation - eager to see this vision actualized!

3 Likes

Thanks Popil! Also a lot of cool possibilities for Marketing, we will definitely leave the field of possibilities open and not limited to these exemples.

3 Likes

Love to get your view on this AIP that failed to pass. I think this is the real core issue that needs to be addressed with regarding to Metaverse assets. Are there already alternatives to what was planned in AIP-324?

1 Like

AIP 381 is the updated and resubmitted version.

Feel free to ask any questions there.

We also added some Q&A and appendix for a better understanding

3 Likes

Hi @CypherGlaze ,

The community feedback period for your proposal would be ending in less than 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.

  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.

  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi ApeCoin DAO Community,

@CypherGlaze has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 8 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-@Facilitators

Hi @CypherGlaze ,

The community feedback period for your proposal would be ending in less than 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.
  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.
  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

Hi ApeCoin DAO Community,

@CypherGlaze has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-@Facilitators

Hi @CypherGlaze ,

The community feedback period for your proposal would be ending in less than 24 hours.

  • If you’re content with the feedback received, your next steps are to finalize your proposal using the AIP Draft Template.
  • A moderator will reach out to the author to finalize the AIP Draft. Upon receipt of the final Draft, we will review and provide instructions on the next steps.
  • Are you ready to proceed to the next phase or do you wish to extend community discussion for another 7 days?

We look forward to hearing from you.

-@Facilitators

1 Like

Hi ApeCoin DAO Community,

@CypherGlaze has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-@Facilitators

1 Like