RENTAL MARKET UPDATE FOR STEEMMONSTERS
RENTAL MARKET UPDATE
Some may know this as "delegation market"... we're calling it the "Rental Market" because it is more intuitive to new users.
SteemPeak made a change to the Protocol layer which allows users to play with cards another user lends them. But ownership never has to change hands. There is a huge amount of User Interface potential for this small underlying code change. We've been hard at work.
CHALLENGE US ON DETAILS
Anyone have any questions about Rental Market? Feel free to grill me about it.
It's been a lot of work because the underlying realization is that NO OWNER wants to put a card onto a market one at a time.
And no RENTER wants to rent one at a time. So we're laying the foundation to make things EASIER and FASTER!!
WHY WE ARE CREATING THE RENTAL MARKET
- Help the health of market via volume of market sells
- Help the health of market via card price
- Bring new users to SteemMonsters
- Bring new users to Peakmonsters.com
New users are really important for the health of any market. Without a good flow of new users a market can get very stagnant. So we hope delegation and the rental market help bring lots more players into the game.
Notice we did not list making bid money from the feature itself as a primary reason... haha
LOSS LEADER PROJECT
The more I thought about it the more I realized that this feature is a "Loss Leader" for https://peakmonsters.com
Which means based on most of my calculations the rental market will not make much money and so we're not really concerned about sharing or not sharing all sorts of details about the product because we're not concerned anyone else will build one for a user base below like 10-20k players. For us we understand this product will probably take years to pay off the work we did based on estimations that it will be unlikely to bring in over $100 a month. In fact maybe even just around $50
We expect we'll make up for by having lots more new users using features like market and bid buys and even pack purchases.
WHERE WE ARE AT
I have been testing delegations in an actual working environment and at it's core it's working great.
So now we're just making sure the UI works well. (Meaning fast and easy)
Asgarth is going on vacation soon so he plans to release something before that time.
I should stress that version 1 will have several features missing that you may hope for ... mostly things that could make it even faster and easier.
But this break will be good... the couple weeks he's away you can be talking as a community and deciding what you really want.
NEW UPDATES TO PROJECT
I've been talking to mostly the "monster mavericks" who own tons of cards and since those conversations I have some updates to share with them or anyone reading.
- We will call it the "rental market"
- A new UI interface will allow for BULK transactions on every transaction type not just renting.
- The UI is a HUGE improvement!! It allows bulk transactions across different monsters which doesn't exist anywhere yet.
Up until now it's been bulk of the same monster.
- I can't remember who was concerned about the daily fee escrow... good news to them we decided to no put daily fees inside of escrow. Meaning if you wanted to rent it for a month or a year the renter wouldn't have to put a years worth of fees inside of an escrow.
- Payment will come from PeakCredit balance meaning if they run out of credit then the card gets returned to you.
For example if we go to pull funds after 24hrs and they don't have enough then contract is broken.
- So renters will be able to work on earning what they need as they go in order to keep their contracts alive.
- Also we've decided on "Termination Escrow" for the optional 50/50 escrow that helps incentivize fulfilling contracts.
- Since it's the only escrow it may just be called "escrow" at times. And is of course optional but becomes perhaps more important because there's no escrow on the daily fee so defaulting on the contract may be more common meaning some people should build in an incentive for the player to keep it going.
- We added plenty of history transaction stuff... because that's how we roll. If you do something involving money we want you to have a record of what you did.
Keep in mind there will be some parts of Rental Market that won't be done on release #1 if that's an issue I guess you could tell us and we could wait until after... but I'm guessing people don't want that at all, they're itching to have something.