Compet Deeds payout

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Rampsy

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Rampsy
Dear Community,

Mindark had officially announced the Compet Deed owners to start receiving payouts starting on january 2017.
By now we are nearly 1 year later, still there has been no payouts.

What is worst of all is, I have asked them multiple times about it, through mail & through support.
None of these questions are being answered, as usual.
I know that many others have done this too.

I now want to get this out in the open, in the hopes that MindArk will finally do something. At the very least come with a statement.


So MindArk: Please stop keeping us in the dark, and come with an official statement, or even better: start the payouts as had been promised.



If MindArk refuses to do so, I would like to ask the community the following:


1. Does anyone know if what they do is legal?
1A. It sounds to me like they are taking money with false promisses, and that is considered fraud as far as I know
1B. From what I understood, there were 200.000 Compet Deeds sold, for a rate of 100 PED each, which is 10$ each, so a total amount of 2.000.000$. MindArk has stated they would be giving out 30% of the revenue to the players. That means that the investors their 30% is worth 2.000.000$, meaning that MindArk their participation of 70% should equal 4.666.667$.
Considering this, that means that MindArk valuated the total value of Compet to be 6.666.667$. Therefor I think they have to be able to prove their costs to us, no? Because this again sounds to me like they have deliberately overrated their project, which again is to be seen as fraude, isn't it?

2. If we have someone who has enough knowledge about this, might it be a possibility to form a group together? Can we come together as a group to form a lawsuit against MindArk?



Please note:
I do NOT mean to actually start a lawsuit, so please people, do not yet start doing this. I also don't want to start a discussion to lynch the MindArk employees. My main purpose for this thread is that I hope that MindArk will finally stand up and start talking to us about this project. However, since nice and friendly questions through mail & support boxes get blatantly ignored for about a year by now, I saw no other option but to bring this out in the open.

So:
1. This topic is to hopefully open the MindArk employees' eyes, to at least give us some announcement, or preferably start to keep their promisses.
2. Ask whether the above points are possible.


I am NOT asking for people to start grouping up against MindArk, I'm only asking if it is a possibility and if we do not break any rules/laws by doing so.
This thread is only because I see no other way in how to get them to respond, because if they blatantly ignore every question entered in their system about this, there is no way to actually get them to answer. Please, everyone who reads this post, know that this topic is not meant to start a flamewar against MindArk, but just to show MindArk that we are really expecting answers on our questions. After all, this is a 2.000.000$ investment, I don't think it is unfair that a group of people expects at least some feedback about an investment this big. I still hope that they will come with an answer though, so please, do not start insulting towards MindArk & their employees, but give them a chance to come with an answer.
@Mindark though, do realise that ignoring your investors is not a correct way of doing business. I think it is our right to request feedback, and the fact that you refuse to answer is what has brought me to make a public topic about this. This was never the intention, but after multiple requests over a year, I think it is fair to say that you are not showing any goodwill, as all I've asked for was feedback.


PS: Moderators, if this topic is against the forum rules, you may delete it. I tried reading through the forum rules before posting this, to be sure that I'm not doing anything wrong. However, I couldn't find a rule forbidding this topic. If I may have missed a rule, feel free to send me a PM informing me with the rule
 
FYI (as already posted on this forum):

Dav|ComPet said:
1. The main source of revenue is from diamond burn, an additional source of revenue is from the PED in the pro version of the game.

2. The amount of revenue will be communicated as the first deed payout has been distributed between the shareholders.

3. For the last couple of months the advertising of the game has been halted and it is only organic users that download the game. As stated before we will begin with a new marketing push shortly. We have seen an increase in revenue after the release of the trinket system.

4. No exact date is set. However we will begin with the deed payout after the next marketing push.

(from ComPet forum, Oct 5)

And on false claims, payouts would start in February 2018:

Princess|ComPet said:
This is not true, the user removed the picture when he or she found out that the info was incorrect.

(from ComPet forum, Oct 23)
 
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TT your deeds and suck it up.


Or lawyer up and get destroyed anyways. Cooper was a horrible idea in its inception. The developer they worked with was even worse.

And it’s basically a Pokémon rip off.
 

Aah, strange, I first searched the forum for "Compet", but I couldn't find anything after a community post from august.

Thanks though, this is exactly what I was hoping to read, an announcement.
In that case: Excuse me MindArk, it seems I have missed your announcement, and you have actually already made an announcement.



TT your deeds and suck it up.
Just in case you apparently misunderstood: I am not whining cause the game might have failed. I knew there was this risk when I started investing. I don't mind if I lose some money (or even all) if the game has failed. That is if everything has been done in a correct way.

If they have spent 6.666.667$ dollar (2million from the investors who have 30% shares, and 4.666.667 from MindArk's 70%) and the game has failed, then I won't whine, that's how investing works, you win some & you lose some.

However, if it turns out that they have charged 2 million $ for 30% and they have only used 300.000$ for example, and then consider the project as "failed" and just run away with the other 1.7 million $, then that is considered fraud. That is what I'm talking about, I want to at least have some feedback about what is going on, and when we can expect to see something happening from the earlier made promisses.

If it turns out that they did actually use all that money & it fails, then I have no issues with taking my losses and "sucking it up" as you say. In case you haven't noticed, I am not whining here about the value of the deeds, my topic is not about the fact that the deeds are worth less than what they were sold for at the start. I'm completely fine with that, as that was a risk we knew when we invested. The issue at hand is the lack of communication by MindArk. (except for apparently 1 announcement that I missed. Which is still not much for a project this big in my opinion, but honestly, it already made me happy, so thank you for pointing that out GradenFoss.)

Edit: I just saw why I missed it. The message was from the compet forum apparently? Very weird that they haven't announced it in the official announcements for this game yet then, because this is where the investors have invested on, so I would at least expect the announcement on the entropia universe launcher)
 
Dear Community,
I assume that there is simply very little revenue which could be paid out anyway.
It might be better not to know exactly how little until improvements are made.
Unfortunately, although changes are still happening at a pace faster than can be said for its sister EU, some of these are BIG steps backwards, for example the pet balances now that we have trinkets. Also, removing trinkets from a pet since the recent vu has also been made stupendously expensive for anyone with a large vault. Visually there are steps forward, but that is NOT what compet needs to be a popular, viable game.

As with everything EU, one can only hope that something comes in 2018, 2019... before the sea levels rise etc.
But yes, I understand your sentiment Rampsy!
 
It's wishful thinking to say that MA said they would be investing any money in Compets. Unless you have a link to an official statement that states that.

Saying they were paying out 30% to the deed holders does not mean that they were paying for 70% of Compets.

The first thing a lawyer would ask you is "Can I see the contract you made with Mindark?"

As far as believing statements from MA, one is just as trustworthy as any of the others.
 
the thing is compet is basically dead. there are less than 1000 active players id guess and thats a joke considering its mostly a mobile game. successful mobile games have 1 million users upwards. and reviving a dead mobile game is nearly impossible.
the best would be to accept that compet failed, stop the development and pay all the revenue created out to the deed holders and then remove the deeds. right now the game still generates costs for the further development and the servers etc. and i doubt that the revenue exceeds these costs.

compet is mindarks equivalent to the "soon" (...) berlin airport BER.
 
The reason you have no payouts, is because there is no money to give out.

Simple.

Rgds

Ace
 
not the first time someone's tried asking about it, and won't be the last... Probably not a lot of cash left after paying the outsource company.

The actual game play is very, extremely slow after you reach a certain level... Basically you can't continue on too easily without buying a lot of shields since all your gold will be going in to other player's pockets due to raiding. The length of time it takes to build up enough resources to upgrade makes it completely boring after you get to higher levels, and the game play is slow and boring, so the odds are likely that those that could/should be paying in to it are not as there's simply other fun stuff to do elsewhere, even if it's just in Entropia Universe itself.

IMHO removing the 2 things that made compet beta 'fun' and got lots playing to higher levels, free auto-fights, and nearly unlimited free number of turns per day, being removed killed the game even for those that were actually interested in playing it daily back then... There is likely no income to divide up since some percentage of zero is zero.

There's some rumors out there that more additions to pets in Entropia itself is coming in February of 2018 such as auctioning of pets being available, etc. If that is the case, and you can start moving pets between compets and EU more income to compets may be coming by the end of the year next year, but we'll wait and see... Mindark and rumors and deadlines have a big history of letting the community down in the past, so not looking at this as a glass half full type of thing yet...

If you have the peds, buy more deeds since some payout will happen at some point in the future, but it may be a few years down the road. That having been said it's a gamble, but with the roi of AUD and compets being what they are, it may be a calculated risk worth taking if you plan to be a long term investor... as the roi on compets could exceed roi on aud... not likely, but who knows... it took a lot longer for aud to sell than they originally intended, which is why they ended up on webshop... Compet Deeds all sold out in game fairly easily, so not it's just a waiting game.

Haven't seen any of Mindark's plan for end of year sales or beginning of year sales junk like we usually see around this time yearly, so if you do have the peds, maybe wait a bit to see if something else comes along though...

We are greedy and need money End of the Year Sales Schemes (or scams if you prefer...)
Avatar Statue Auctions
Avatar Statue Results

Ethereal Armor: Barely There, Protection Everywhere!
The Quadwing Equus - Special edition Quadwing Interceptors
liquidation auction
Medusa Head...

We are Greedy and need money - Beginning of Year Type Sales (especially when the end of year sale flopped):
Firebird Limited Edition Sales
 
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The reason you have no payouts, is because there is no money to give out.

Simple.

Rgds

Ace

lol, some people just keep hanging on to faith.
It's nicer to have faith in things that aren't there than to just accept the hard truth.
It's a common human behavioral thing.


I'm really baffled the compet deed price is still so high. :scratch2:
 
The frustrating thing about compet is the managements decision to continue to push the PVP. They could have pets, walking around digging up bones, pecking rocks for stuff etc. But they limit their market to PVP, then limit it further with 4 lifesteal epic trinkets on one pet.

So it ends as; Player has 4 epic lifesteal rings, "NO PLAYER" wants to take them on.
Result; Dead PVP.

Now having super abilities is fine when you taking on the computer mobs, but just PVP is pretty stupid.

Mindark though, "can" if they wanted to resolve the situation. They have after all sold the deeds to thier own 'small' EU player base.

MA could convert them to B shares in EU (B - CLD's), I'm sure most would go for that.
MA could wrap up EU pets in compet deeds, or help it somehow.
MA could buy them back, or allow us to convert them to uni ammo for example.
MA could pay out or announce how much revenue they've collected.

It's a waste of time discussing it in compet forum, as I get the impression all the Dev posters are third party. So it's like talking to a brick wall.

I've personally taken the decision not to depo since September, until MA sort this out.
Capital loss as the deeds drop in value is bad enough, I'm not paying more, to be treated like this.

But lets be honest, the last few years MA have sold stuff before it's started and never really finished it. Stables, statues...just to name two. It took 5 years for Ma to come up with the plots for CLD owners.

The game does earn revenue though from diamond burn in Compet, it has accummulated something.

Pets had so much potential.......it's pretty sad really for EU and compet that the vision and drive is boardering on medicore. But like I've said time and time again, EU was always an art project, MA allowed us to interact with, same goes for Compet. Doesn't matter if the game play is rubbish, just as long as it looks ok, and it satisfies some Godly egos.

Whatever!!!!!!!!!!!

Rick

edit: Was it stupid of me giving MA $5000 for deeds, for the sole purpose to be honest, was to try and make play in their main game (EU) affordable? Yeah it was. Well we live and learn. But the problem is not going away, MA need to act.
 
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Mindark though, "can" if they wanted to resolve the situation. They have after all sold the deeds to thier own 'small' EU player base.

MA could convert them to B shares in EU (B - CLD's), I'm sure most would go for that.
MA could wrap up EU pets in compet deeds, or help it somehow.
MA could buy them back, or allow us to comvert them to uni ammo for example.
MA could pay out or announce how much revenue they've collected.



Rick

lol, and why would MA do any of the above mentioned things?

I think the easiest (and cheapest) way for MA to resolve this is to let them just be what they are. Relics. Memories to a once nice idea.
Compet deed buyers speculated that they would generate cash, but speculated wrongly.
Result, a write off. Bye bye peds. But at least you get to keep some memories.

Converting Compet deeds into CLD's? Why should Entropia Universe bleed for a failed Compet?

Buy back? Lol, sure, MA will buy them back without hesitation. They even made a terminal for that. It's called the Trade Terminal. Converting to ammo is only for non TTable stuff.

Revenue, I guess there is no revenue. I reckon the costs where much higher then what they got from those 10 players.
 
The problem with Mindark admitting that compet has no revenue, is that the deeds, in the hands of players, become Wortless.
Saying nothing keeps the price high. That's in the interest of all parties. Mindark then still has time to start An Ad campaign to hope to get more compet players, and maybe then start the payouts.
 
lol, and why would MA do any of the above mentioned things?

Becasue politically it's not in Ma's interest to f*** thier own player base out of $2 million dollars (assuming they sold them all), for zero return.

It will prove harder for MA to sell the next set of deeds they're probably desperate to push on the players before development has even started.

Becasue Ma does help move thier giant oil tanker when it's necessary. Putting events in the Ark UG for example, making sure the Ark UG has enough hofs to pay those deeds.

Becasue every month this drags on with more noise, how players feel robbed, it does MA no favours at all.

Let's be honest, MA are not exactly the favoured friend in the room right now. Loot 2 and eco, bascially was more about distroying value in old items, even if MA labelled it as providing us more info. Are there any limits to MA's ruthlessness? That is the question players will be asking themselves.

So, "no", I don't think they would just let it die and be some relic of the past. MA have to fix the situation, it's as simple as that.

Rick
 
The problem with Mindark admitting that compet has no revenue, is that the deeds, in the hands of players, become Wortless.
Saying nothing keeps the price high. That's in the interest of all parties. Mindark then still has time to start An Ad campaign to hope to get more compet players, and maybe then start the payouts.

yes, so the compet price is purely based on hope.

imho compet deeds were worthless the moment they were launched.
It was pure speculative.

At least CLD's based based on an already steady revenue. Same as AUD's.
But compet deeds were based upon an idea.
And that idea failed. So as a logic result the deeds failed as well.

But look at it this way. many compet deed buyers liked the idea of a mobile compet game so they payed money for it to be developed.
Well, they got the app to play with. So in the end they at least got something.
 
Wait another half year and sell them if no payout, or TT it
 
Becasue politically it's not in Ma's interest to f*** thier own player base out of $2 million dollars (assuming they sold them all), for zero return.

It will prove harder for MA to sell the next set of deeds they're probably desperate to push on the players before development has even started.

Becasue Ma does help move thier giant oil tanker when it's necessary. Putting events in the Ark UG for example, making sure the Ark UG has enough hofs to pay those deeds.

Becasue every month this drags on with more noise, how players feel robbed, it does MA no favours at all.

Let's be honest, MA are not exactly the favoured friend in the room right now. Loot 2 and eco, bascially was more about distroying value in old items, even if MA labelled it as providing us more info. Are there any limits to MA's ruthlessness? That is the question players will be asking themselves.

So, "no", I don't think they would just let it die and be some relic of the past. MA have to fix the situation, it's as simple as that.

Rick

lol, the playerbase is already used to being fucked by MA

Well, I think a lot of EU residents wouldnt mind compet to die and that they rather have MA spend time and resources on entropia than on compet.
So I think they will quickly forget the compet deeds and they will gladly remember MA to this as soon as they think of any other crazy things again.

I didnt believe in compet when they launched it nor will I believe in any other future idea's. So i will never be paying for deeds that are based upon idea's.

But I would buy any other deeds like CLD's and Aud when they launch them.
The fact that compet deeds failed doesnt take away my trust in any other game related stuff.


Compet deed buyers invested in a start up which never got to see the light.
It happens on a daily basis and is common knowledge.


Wait another half year and sell them if no payout, or TT it

well, my advice would be, sell them now asap while there's still some (naive) people around willing to buy them.
 
Wait another half year and sell them if no payout, or TT it

Truth is compet does have a future, if MA change direction. Give it loads of non-PVP activities, make players want to stay online.

It's just getting over that MA ego hurdle, that the orignal idea of full-on PVP hasn't worked. Happens all the time in business, "a failure to accept" the current direction is not working.

Ironically the thing that was supposed to boost the game...the trinkets, was sort of a nail in coffin. The message is the only way to compete in the PVP only game is to buy tons of trinkets until you get 4 lifesteal versions, then you "might" be able to compete. What a pathetic game play situation is that.

Maybe once Ma bolt it to EU, which is one of the plans. Then it might have purpose.

Although EU pets are not in favour right now, mainly becasue they lack purpose. You throw $200 or more to train a pet for a passive that is outdated by other items......lol. The whole game stinks of exploitation, I'm amazed players are still accepting it. Well they're not are they, EU pets are not selling. Well at least not selling for the price to train them.

Rick
 
lol, the playerbase is already used to being fucked by MA

To a point yes Wizz, I'd agree.

Although with regards to many of the long term players, the game has become more and more ruthless in recent years.

It started with tiering losses, losing valuable items.
Weapon devaluation, on an epic level
Land plots that were consigned to the dustbin when AirMatrix arrived.
Assumed value in rings, that are still dropping.
Unhappy Stable owners
LA's switched off.
Worthless pets.

The list is endless. But MA have always made sure deed owners didn't get distroyed.

Well it's as simple as this really. I could play the game for another 30 years "if I wanted too", that's a ton more deposits than 50K peds on some deeds.

You don't screw your investors if they're players. It's like MA are bakers, and decide to switch putting sausage meat in sausage rolls, and instead wrap some pastry around dog turds. You simply don't treat your player base like that.

One last point Wizz, it's us against MA remember. Unless of cause you're on mission to get MA to screw your fellow players.....smiles.


Rick
 
To a point yes Wizz, I'd agree.

Although with regards to many of the long term players, the game has become more and more ruthless in recent years.

It started with tiering losses, losing valuable items.
Weapon devaluation, on an epic level
Land plots that were consigned to the dustbin when AirMatrix arrived.
Assumed value in rings, that are still dropping.
Unhappy Stable owners
LA's switched off.
Worthless pets.

The list is endless. But MA have always made sure deed owners didn't get distroyed.

Well it's as simple as this really. I could play the game for another 30 years "if I wanted too", that's a ton more deposits than 50K peds on some deeds.

You don't screw your investors if they're players. It's like MA are bakers, and decide to switch putting sausage meat in sausage rolls, and instead wrap some pastry around dog turds. You simply don't treat your player base like that.

One last point Wizz, it's us against MA remember. Unless of cause you're on mission to get MA to screw your fellow players.....smiles.


Rick

Well Rick, I'm in it differently as most players.
I could play the game for another 30 WITHOUT depositing. (sure, I bought some boxes purely for the gamble)
Depositing is easy. Playing without depositing, THAT's the real challenge for me.

Yes, you're right about most of the points mentioned.
Most investments lost value but some other didnt't. And it's up to the smart investor to make the right decisions about buying and selling stuff. Just like the real world stocks you can invest in.

That stuff would lose value could have been seen upfront more then 10 years back.
How naive can you be that all items would keep value if MA is forced to keep us looting and introducing new items?

You mention tiering losses, well, I never even bothered to tier stuff. Why would I? Just to slap on some crazely expensive enhancers? Better just buy a bigger gun. Only for a PK-er I could see any value in that.
If you tier stuff, you know that you throw away ped!

About rings , you knew they dropped from boxes. So you knew that the amount of rings would keep increasing. Added to that you can also know that eventually, when rings are sold for near TT, MA will introduce ring decay, making the price even less.
Sure, I also have a mod athenic which keeps dropping in value, but at least it's giving my pleasure while using it.

I've personally never blamed MA for any MU related topics. They just implement stuff and WE decide MU.
The only thing I blame MA is my shitty loot. But been doing that for the past 13 years already without any effect :laugh:

And Rick, it's not US against MA.
It's us together with MA, we cant live without each other. At least not in this universe.
 
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