Deciding the Future of the MK1 Asteroid Hunter
Summary of MK1 Asteroid Hunter to MK2 Asteroid Hunter Proposal
The team launched Episode 5 of Beyond the Galaxy on our YouTube channel on the 26th December. The team released updates regarding the racing gameplay, the reputation system and benefits, sustainability and the release of the MK2 Asteroid Hunter.
The team announced our work in progress proposal to swap all existing MK1 Asteroid Hunters to MK2 Asteroid Hunters, which is subject to change based on community feedback and response.
In the process of swapping the MK1 to MK2, players will be given the chance to mint a new MK2 Asteroid Hunter using a probability minting logic. There are 1 to 5 different rarities that can be minted, all of which affect the APR and ROI of the spaceship. MK2 Asteroid Hunters will have a maximum durability or mining capacity to ensure that they are not an indefinite asset following our attempts at improving sustainability. It was also proposed that players will be provided 1 week at the start of the swap period, where asteroids of rare and epic rarities will have an increased spawn probability to support players throughout the swapping process.
The team proposed that the MK1 Asteroid Hunter would not be forced out rapidly, rather asteroid spawns would slowly decrease to allow players more than enough time to swap over to the MK2 spaceship when it is ready to deploy in Q1 of 2022. The intention for the MK1 and MK2 Asteroid Hunter swap was to announce a date in Q1 2022 for when this swap might occur, as per the announcement in the Episode 5 of Beyond the Galaxy. Our intention was never to release this swap immediately. Our intentions regarding the MK2 Asteroid Hunter release is to release this ship onto the marketplace in January 2022. Regarding community concerns for sustainability for this release, this was addressed in Episode 5 of Beyond the Galaxy but essentially for the MK2 Asteroid Hunter will earn more BYG if price goes down, but for MK2 Asteroid Hunters’s to enter the economy players must use their rewards or spend more to buy MK2 Asteroid Hunter’s and with the updated mechanics of needing to return to a refining station to sell your rewards. The funds used to purchase the MK2 Asteroid Hunter will be out of the economy for a period of time.
Why the Proposal to Swap MK1 to MK2 Asteroid Hunter on Oracle model?
The Oracle model was first introduced in Black Eye Galaxy to solve a growing scalability issue present in-game. In the beginning of the project assets were released on a non-oracle model, the issue with this is that with the potential growth of the project and increase in the price of the coin, the cost of our assets quickly became prohibitive to low-mid cap investors. For example, at $0.50 our cheapest asset was $700.00 for an MK1 Asteroid Hunter. However, Oracle fixes this issue of scalability by having a fixed entry price and reward. For example, the MK2 Asteroid Hunter will always cost $325.00 which is much more attractive for players and sustainable for the project.
Although the Oracle system is a double-edged sword, another reason for the Oracle model implementation is to maintain positive momentum — the more buy pressure and funds that flow into the reward pool, the less the rewards are paid out of the reward pool. We will mitigate the risk of downward momentum via our game mechanics, for example, currently we can adjust asteroid spawn rate to temporarily reduce APR and sell pressure during downward momentum. There are currently multiple features in development and in the refinement process for achieving a more dynamic rewards system, such as new buildings (e.g. refining station) and updated mining logic for all current assets.
Community Response to MK1 to MK2 Asteroid Hunter Proposal
The team received some mixed feedback concerning this announcement, with many players concerned with sustainability, buy and sell pressure, marketing, and early investor concerns. The team would like to apologize to our community for these concerns and would like to reassure the community that we are addressing these issues promptly. The entire team has been working hard to ensure that the project supports players and can be sustained in the future.
On the topic of sustainability, the community have emphasised their concerns in terms of how this project can remain sustainable in the short and long term, especially with the recent announcement of the MK2 Asteroid Hunter and the recent proposal to swap MK1 Asteroid Hunters to the MK2 oracle based Asteroid Hunter — we hope that we have answered these concerns in this article.
As per the feedback collected by the community. The team have re-worked options available for the MK1 Asteroid Hunter future. Players can vote between 2 options provided with an additional 2 options being given to players to swap to other assets or original BYG refund.
You can find the poll here: https://forms.gle/JbLUAjxeaifkkGAz6
ENDS 03/01/21 18:00 UTC
With regard to concerns on marketing, the team understands many players feel there is a lack of marketing, we have analysed and received this feedback. We are working on a marketing campaign that will start in the first week of January. Specifically, we are working with targeted communities including Portuguese, Spanish, Philippines, and others will be approached in the new year. We will be working with different YouTuber’s and then develop advertisements for a range of cryptocurrency websites, and we are also working on a list of off-chain partnerships.
Lastly, regarding concerns by players related to team members statements across our communication platforms including Discord and Telegram, which have contradicted our actions in the last week. The team will ensure that information is sensibly distributed on our social channels to ensure that it reflects the final product, however, we are a metaverse game that is continuously expanding and evolving alongside a moving market and thus development changes should be expected. The team will ensure that all future updates and official news are published via Medium articles and our GitBook page that is currently in development (ETA January). All information provided on through YouTube videos such our development updates and information shared over Telegram and Discord are always subject to change in the future. This is still an early project in the grand scheme, and there could be further changes and improvements made to the existing game elements — we do this as we work to ensure the sustainability and longevity for the project and community.
- BYG Team
