ComPet Announcement
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RickEngland
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Probably based on current sales, it would take more than year to sell the final amount of deeds, players have only got so much cash to buy them. It was 2 million bucks.
So maybe Ark accepted 1 million, and a deal was done to reduce costs for Ark to MA. Or maybe MA owned a percentage of the deeds as a deal to list them in the first place. We don't know the commercial agreement, between the two companies, but I'm sure MA would want their slice of the pie on any big sale (just like an investment bank would act on a share IPO).
We can't just assume 100% of the deed sale belonged to Ark Studios.
Rick
Evey
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Shitty situation, but, moving on is a good step forward. Another positive sign is that MA stepped up before the deeds got to 1 ped worth on the market. Hope the comped deed owners get their money back from the moon deeds revenue.
Time to close the space now and add TPs betwene planets
Time to close the space now and add TPs betwene planets
RickEngland
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Shitty situation, but, moving on is a good step forward. Another positive sign is that MA stepped up before the deeds got to 1 ped worth on the market. Hope the comped deed owners get their money back from the moon deeds revenue.
Time to close the space now and add TPs betwene planets
Yep it is what it is. Get that NPC loaded ASAP, and check it works correctly MA before we load some deeds please.
What is really making my smile right now, is I'm swapping deeds for something that wasn't finished, for another thing that isn't finished. I mean FFS....you couldn't make it up. hahahahha.
I'm going to bed.
Rick
T79x
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Question seems none bother to ask ....
Where comes money for this transfers sharade ??
DID MA pay for Amds from their own pockets ??
or once again money was sucked from playerbase
from reaction of others ....
looks all are happy for compensation as they all know they deserve NONE
Where comes money for this transfers sharade ??
DID MA pay for Amds from their own pockets ??
or once again money was sucked from playerbase
from reaction of others ....
looks all are happy for compensation as they all know they deserve NONE
I think almost everyone will disagree. The whole compet thing was a bit off a joke to start with. Most savy investors ran a mile.
They should never have taken funding in such an early stage.
They failed to deliver on promises and have admitted it wont work.
Hopefully the peds came from compet deed sales. With the developments they made sofar i cant see it was all spent lol.
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San
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Billy Jean Ruby
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now i know what kind of a company MA is, and its time to say farewell and hope for the worst in the future for this company.
Big Fail AB.
Big Fail AB.
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No one bothers to ask because it's a stupid question and most likely you'll never find the exact answer.
All you can do is assume even more stupid stuff and make conspiracy theory out of which will only result more shit.
Unless a clear answer will come from MA, all we can tell is that there was some sort of deal between the two companies, at some point, but that's it.
RobBuona
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Every company has failed projects. Every single one. But sure, go ahead and expect them to be perfect in a world where nothing is.
Divinity
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Comeon man use common sense.
MA don't even allow PP's to put event prizes without them having to pay MA for it, you think the moon deeds were totally Arkadia's to keep without having to pay MA for them? Of course MA would have kept 30-40% of the deeds themselves as in under normal circumstance the fund from selling them would be there's to keep. Now they are atoning for there failure by foregoing what they would have made from ark moon sale.
Personally, I think MA are being pretty liberal about offering this compensation as they could have just said compet failed and moved on. I take it as a positive coming from them that they are allowing this swap.
sawachika
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So everyone's a-okay with this transaction that is going to happen?
If assuming all 200,000 compet deeds were indeed sold and all 200,000 of them will be exchanged into Ark Moon Deeds, that would literally mean that 3/4 or 1.5 mil USD worth of money/peds just upped and vanished into thin air.
And no one is disturbed/unsettled by this?
(PS: I wanted to comment further, but decided against it. I truly hope that you guys will read between the lines yourselves. Good Luck and Take Care.)
If assuming all 200,000 compet deeds were indeed sold and all 200,000 of them will be exchanged into Ark Moon Deeds, that would literally mean that 3/4 or 1.5 mil USD worth of money/peds just upped and vanished into thin air.
And no one is disturbed/unsettled by this?
(PS: I wanted to comment further, but decided against it. I truly hope that you guys will read between the lines yourselves. Good Luck and Take Care.)
So, in a vu coming soon, the way to buy deeds for the Arkadia Moon with in-game peds will be to buy deeds from a massively failed project, then travel to Calypso to get them exchanged for the deeds you want!
At the same time, there is no news on what may happen to any deeds which are not converted, or the 'intended' future of ComPet after a period of "willful neglect". As MA appear to neglect even their own code, do people expect something will be done after the deedholders have been bought out for effectively 25% or less of what they put into this out-sourced project?
At the same time, there is no news on what may happen to any deeds which are not converted, or the 'intended' future of ComPet after a period of "willful neglect". As MA appear to neglect even their own code, do people expect something will be done after the deedholders have been bought out for effectively 25% or less of what they put into this out-sourced project?
Divinity
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The Big Fail had already happened. This is more of an acknowledgement and some karma points for giving some refuge to those who suffered cause of this failure.
MA were going into an unknown domain ( mobile gaming) with "A" concept and asked for funds. If people were not willing to risk there funds , they should have asked all questions back then and considering all the risk involved they should have just not invested in the project. I know I did not because of lack of clarity and also my lack of faith in MA's understanding of mobile gaming market. There is nothing wrong with those who did as long as they understood the risk and the thing with risk is, you either win big or go home.
By offering Ark moon deeds, MA saved people from going home with nothing. +Rep to them for that.
Haruto Rat
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Nope. What just happened is - it was recognized (in the accounting sense of the word) that said value vanished long ago.
RickEngland
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Well the message that sends, is partly why all the moon deeds didn't sell out. We've moved from we will deliver and make it work if you invest with us, to we might not deliver or refuse to deliver and will pass on the loss to those stupid enough to believe in us. That does not bode well for any future sales.
Compet could've been successful if it had the right content and purpose to make it viable. The "accountability" for that lies totally with the developer, lets remember deed holders had no voting rights like shares. The community could argue about the morality of it all day long.
We're being given the option to swap deeds at a loss on their original price, it's most likely most will accept that offer even if we don't like it. That's another win for MA more than the deed holders, becasue once swapped Compet deed owners have discarded their rights to pursue any loss for failure to deliver a viable game as was promised. I'm sure MA are well aware of this, and probably laughed about it with their lawyers.
After the swap MA made 400 ped for every 5/2 trade or the orginal sold deeds. I'd love to know finanically what loss MA have taken on this.
Lets look at it another way; Lets assume MA said unlucky compet deed holders you're getting nothing for "our" compete failure. What do you think the impact of that would be for deeds sold to the EU community? It would be like a nuke going off in their main game. MA know this, all too well.
I don't view it that MA are doing Compet holders a favour. If it was a favour it would be a 5/5 swap and even then it would be a loss of 500 ped compet v 250 ped ark moon deeds. Instead we get 500 ped compet deeds for 100 ped Ark Moon deeds. We've been forced into a corner to accept it......it's as simple as that.
However and I'm not pointing the finger at you Div, it's just a general comment. There're so many posts now that investors should take the full hit for MA failures, that it doesn's inspire any confidence or appetite in future to trust MA, becasue such posts want the "customer" to take ALL the risk. I think that sucks.
Rick
BackBone
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So everyone's a-okay with this transaction that is going to happen?
If assuming all 200,000 compet deeds were indeed sold and all 200,000 of them will be exchanged into Ark Moon Deeds, that would literally mean that 3/4 or 1.5 mil USD worth of money/peds just upped and vanished into thin air.
And no one is disturbed/unsettled by this?
(PS: I wanted to comment further, but decided against it. I truly hope that you guys will read between the lines yourselves. Good Luck and Take Care.)
200,000 Compet Deeds, traded with an exchange rate of 5:2 would equal 80,000 Arkadia Moon Deeds.
If each Arkadia Moon Deed is worth 6 USD, then 80,000 would equal 480,000 USD (not even close to the 1,5 million).
Please feel free to correct my math if i did some mistake.
IMO, MA is giving a way out for the Compet Deed Holders and trying to save their face a bit. We could actually aplaud this move.
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Investing 101. If youre not willing to take the risk for the investment, dont invest. You have to assume all the loss.
RickEngland
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No....MA are doing this for self interest. What compet deeds holders are getting is a secondary thought.
MA can't sell those Ark Moon Deeds quick enough, current investors are becoming restless that they can't trade their Moon deeds.
It's trading deeds in a game not finished, to a Moon not fully finished either.
It's still a huge unknown if this moon will be succsessful, and attract the customers to make it pay.
I'm sure the equity swap is linked to the number of unsold deeds though.
Compet deeds holders could rightly demand MA deliver on their promises for Compet, they didn't even advertise Compet as was promised in the original funding.
I will not accept the poor deed holders should be so thankful.....NO f*** that.
Rick
Divinity
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Future sales of to-be-developed-products. And i for one am glad that it does not bode well for that. Blindly buying into everything MA puts on the table is/was and always will be stupidity.
Could is a very speculative word. Are you giving a guarantee that what you refer to as content would make it successful. I would say no. There are many reasons for failure of a project and a lot can always be said in hindsight. Personally my opinion says that mobile gaming market would have rejected an expensive grindy game no matter what content they had put in it. However my opinion is as worthless as yours as anyone elses as i cannot be certain about the results myself.
You have been shown the courtesy of getting back some of the funds you invested in a game which failed. Do u know how many compet deeds were sold? Also if u don't wanna swap, don't . MA can't force you to. However anyone who has been in EU long enough will tell you to do the trade simply because MA will do squat to actually get someone to do anything. They will wait for someone to approach them with a brilliant plan to resurrect the game if they can, the chances of which are the same as lightning hit the same place thrice
Diddly squat. How many times MA has screwed over a big part of the community in some way or the other. Loot 2.0 and buffs are among the recent few. What did the community do besides move on? With compet failure , most would just want MA to get back and focus on EU and move on. Yes a few of the big investors would be heart burnt but the thing about EU you also have to remember, no one is irreplaceable. Even if few people might think they are, they are not
You are getting back a part of ur funds. It could be that this is what is remaining from compet funds ( i donno where all what was spent or how many compet deeds sold to begin with) or MA is paying out of there ARK moon development fees to compensate. Either ways, they are doing good and imo what u are asking for is not a favour but really them being retarded. So they allow you to invest and all risk is there's ? lol Please do understand what risk means when it comes to investments. When risk comes to fruition you pay up and as i said earlier, go home dejected as it may be. You have not been forced into anything. You were given a choice from day 1 to either buy or not buy. You chose to buy. Here again you are given a choice, you can choose to not trade. Please stop making it seem like it is not a choice.
Neither is this a finger at you. I don't believe in debating individuals but rather ideas. If i disagree with you, I will say so and likewise if i agree.
Also i believe this is good overall if people do not invest into MA's ventures without MA working for it. It will make them more accountable and come up with better ideas. I personally think this is how you move from being a circumstantial investor to a seasoned one. Cheers,
Divinity
RickEngland
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RickEngland
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All is cool Div. There is clearly cultural differences between countries in a percieved view how business's should operate, life is not black and white.
Although the message is 100% clear. Many in the community feel that investoing with MA should be a total risk of the investor with no obligation accountability or reasponsibility on Mindark to deliver on promises sold.
Well ok then.....I know where I stand; "that viewpoint" is not for me I'm afraid. I will be careful how I use my credit card in future if that's how many in the game consider Mindark should operate.
I'll will take the deed swap...thank you very much holy Gods, kiss feet kiss feet. I'm soooo thankful.
Rick
ComPet was a bad game and a poorly designed mobile app with no retention plan. It really had nothing going for it. It lagged behind competition and was all bells and whistles. The hardest pill to swallow was how long it took for MA to admit it to their investors. How much of that lose value was them running that last development? Hiring a third party to tell them it was a lost cause? The players were saying that for a year and a half.
Few Scars
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But one doesn't launch a mobile gaming app without global marketing and an iTunes launch. When it launched it should have been listed on iTunes new gaming apps, it would have done much better. Unfortunately the microeconomy is not understood by Apple.
But as this chapter is closed we will see a new one with inworld taming and stable options.
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Indeed, MindArk is bearing the full cost of the conversion of ComPet Deeds to Arkadia Moon Deeds.