Intended Allocation of Proceeds
How token sale funds will finance the development of the first completely decentralized virtual world.
As previously announced, the sale of the Decentraland token (MANA) will be conducted on August 17th. These funds will finance the development of Decentraland, creating a completely decentralized virtual world.
Last week, we presented our development roadmap, detailing past achievements and our next ambitious milestone: Decentraland’s Iron Age. This post outlines our intended use of revenue from the token sale.
Our top priority is to create an outstanding developer experience for building and exploring a virtual world. The largest portion of funds from the sale will be used to attract and employ high quality developers.
The development focus for the Iron Age Milestone will cover:
- A multi-platform app to explore the virtual world.
- An in-world, easy-to-use content builder.
- In-game claiming and trading of LAND.
- In-game micropayments between strangers.
- Third-party applications running in Decentraland.
Following this milestone, the development budget will focus on the continued improvement of the end-user experience within the world browser.
Funds will also be allocated to researching emerging technologies in the VR. VR is a nascent technology, with the ultimate user experience still undecided.
For example, one major factor will be determining which input method becomes the predominant interface while using an immersive VR set. Haptic gloves, Leap Motion, and Oculus Touch/HTC Vive Controllers are all viable possibilities.
The visual experience of interacting and transacting in virtual spaces will create a fertile ground for social innovation. Our research team will remain cutting edge, pushing the limits of what is possible in VR.
Marketing and Community Development (15%)
Funds used for marketing efforts and continued community development will accelerate user adoption. This marketing budget is also backed by a pool of tokens to incentivize content creation inside Decentraland.
We are conducting an RFP (request for proposals) to artists, developers, and online communities to grow the existing interest in developing projects within Decentraland, using funds to back the best candidates.
Multiple grants will be disbursed to successful candidates as they develop in-game experiences, contributing to the growth of our community.
Operations and Business Development (20%)
Operations will cover the costs of office spaces, expanding our team, equipment, and developing long-term infrastructure.
Business Development will focus on promoting partner integrations and incentivizing ventures to run revenue-generating applications, an essential source of value to the community. We project internal economic expansion via open bazaars, real estate agencies, casinos, currency exchanges, and much more to open within our virtual world.
Future blog post will cover additional details. Learn more today by reading the Decentraland White Paper.
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Note: This article has been amended. We’ve transitioned the token sale start date to August 17th to ensure complete compliance with recent regulatory announcements. Learn more in our announcement.