We propose an amendment to our game's whitepaper to enhance the gaming experience and community engagement. Below are proposed changes for the end of season pack sales and burning:
General Sale
The General Sale will continue until the end of December, providing extended opportunities for the community to participate.
On December 31, 2023 all remains will be burned except for 1M. These packs will be used for reasons outlined below.
Discontinuation of Extended Sale
The Extended Sale will be discontinued to streamline our offerings and focus on more targeted sales strategies.
Updates to the Last Chance Sale
- The Last Chance Sale will begin January 1, 2024 and end January 15, 2024.
- All remaining packs from the Last Chance Sale will be burned by January 15th.
- The retail price per pack will be reduced from $25 in the original whitepaper to $10.
- Users can utilize up to 10 GLGT for a 50% discount, reducing the pack price to $5.
Allocation of Sale Proceeds
- 40% ($2) of the sale proceeds will go to GLG/Invennium.
- Another 40% ($2) will be allocated to the DAO.
- 20% ($1) will be burned, contributing to the deflationary aspect of the ecosystem.
Reserving 500K of the 2023 GMLSPA Packs
- 200K packs will be reserved for daily rewards distributed over the next few seasons, allowing 1-2% of daily rewards to have a chance to include a pack.
- Another 200K packs will be reserved for the DAO, providing flexibility for burning, promotions, or special rewards.
- 100K packs will be reserved for new user onboarding bundle packages, available for sale between now and the beginning of the 2024 season Presale.
The decision to introduce these changes stems from several considerations. Firstly, the sales performance did not meet our initial expectations, resulting in a surplus of packs. To adapt to the evolving dynamics, we believe a strategic shift is necessary.
Secondly, considering the current market activity and the observed value of packs in external markets, retaining the Extended Sale in its current form appears counterintuitive. We seek to align our offerings with the prevailing market conditions.
Furthermore, the original pack prices, designed over a year ago, need adjustment to better reflect the current gaming landscape. The proposed reduction in pack prices is aimed at fostering accessibility and community participation.
Lastly, by reducing the number of available packs and strategically allocating them for various purposes, we aim to create scarcity in the market. This scarcity is anticipated to contribute to the appreciation of pack values, making them more sought after within the community.
We acknowledge the dynamic nature of the gaming industry and the importance of adapting to changing circumstances. The proposed changes are designed to better align with the community's interests and market realities, fostering a thriving and sustainable ecosystem.
These proposed changes aim to create a more dynamic and sustainable ecosystem while ensuring ongoing community engagement. We invite the community to vote on this proposal to collectively shape the future of our game.
We encourage all members of the GLS community to review and vote on this proposal. Your engagement and participation are essential in shaping the future of the Genesis League Sports ecosystem. To vote for the proposal, please visit one of the following options:
Thank you for your continued support.