And the BattleDrome ICO is Officially Complete!

Well, that’s a wrap!

And we’ve succeeded in raising a total of (approx) 731.9 Ether! Generating a total FAME in circulation of 76,850.33

Thanks to all our FANTASTIC Contributors/Supporters!

So what’s next?

Well a whole bunch of stuff actually!

• You can withdraw your FAME from the ICO contract now!
• The Ether you contributed has been sent to our Escrow, and he will begin releasing funds to us on the pre-arranged schedule/terms
• We’re posting our budget and all funds requests to the Escrow PUBLICLY. That’s right, our budget, and how we spend the money, and each request to the escrow to release funds will be 100% public knowledge.
• We’ll be quickly building and releasing the Founders Guild contract
• Development ramps up immediately, and we’ll hopefully very soon have several updates and announcements on what we’re accomplishing as we rapidly work towards our first Alpha release!
• Community Goals are still awaiting submissions! Get them in ASAP!

Withdrawing your FAME:

Now that the ICO is closed, you can all start to withdraw your funds via the payMe function. If you have any trouble, I suggest you re-read the instructions at:

BattleDrome/token_and_ico

If you still have trouble, please email us at icosupport@battledrome.io

Public Budget:

Our budget has been posted publicly at:

BattleDrome Budget Post-ICO

Note this budget is primarily for planning purposes. The large level budgets (Dev Salary, Operating, Marketing and Legal) are accurate, and reflect the originally announced budgets on our website (with the exception of a small shift in Operating/Legal to accommodate the Escrow Fee). The other amounts are just a rough guide for some of the early expenses we expect to see.

And here is the sheet we’ll be using to request funds from the Escrow:

BattleDrome Expense Request Form

This one is the real meat. This one shows each and every request for funds, our justification for it, and approval from our Escrow, along with the date/txid when the funds were released. All money released by the escrow will be reflected here as it happens. And this sheet will continue to be publicly viewable during the life of the project.

Note this sheet has a second tab, it is a sort of “burn down” chart, showing the funds in each main funding bucket (operating, marketing, dev, legal) and how much has been released to date, so you can see financial progress. This is updated in real-time based on the approvals/releases of the Escrow.

A few budgetary facts:

• 25% of Dev Salary paid out per installment
• One installment right away at ICO close, then the remaining 3 installments are on Alpha Release, Beta Release, and Final Release respectively.
• 100% of the legal funds gets released right away. This is because lawyers typically want cash (fiat) payments, and we need to secure legal council right away due to the slight gambling aspects of BattleDrome to ensure we’re not breaking any laws, and do everything “by the book”. This fund also acts as the emergency fund in case some unexpected legal action takes place.
• There was a small amount of the marketing budget spent in support of the ICO itself, this is being released right away to the various parties that supported us during the ICO. This makes up a very small amount of the overall marketing budget.
• There are several initial operating expenses that we will be paying for up-front immediately to begin development. Such as: Banking fees, Initial server to host the app, and our dev repos, etc. Development tools, licenses for the game engine to power the spectator engine, etc. These are all outlined in the expense sheet.

Founders Guild:

We’ll be developing this right away, from a development perspective it’s quite simple. But we want you to see and realize your founders position right away. The real benefits from this will come later as BattleDrome, and future projects hook into the Founders Contract API to award real benefits to those holding certain levels.

Community Goals/Bounties:

For those of you who have claims you have not submitted, we need you to submit those claims as per our instructions at:

Announcing our Community Campaign!

The submission deadline for community goals is August 31st at Midnight Eastern Time. After this point we will calculate and pay out any bounties, and any remaining FAME that was “set aside” for community goals will be released to the developers.

In Closing:

Thanks again to all our fantastic backers! We couldn’t have done this without you!

Now we’ll get down to work, but don’t worry you’ll be hearing from us on a regular basis, we want to keep this process as transparent as possible!