ComPet Announcement

Rather see the company go under and get back my 20 dollars

Risk -v- Reward
Cause and effect
Action, reaction.

We don't create the gaming environment we're exposed too, although our experiences within it continually determine our choices of behavour towards it.

EU will stick around, in a month we would have moved on, and be heading down a new path.

I'm a glass half full person to be honest, you have to be to be involved with EU.

I'm just waiting for the NPC to be loaded, to put the whole thing behind me. It feels quite strange trying to tell myself not to bother to login into compet and throw pets in the Gym. I need a while to get used to that.

Laters

Rick
 
I hope something good comes out of this and mindark finally puts the focus back on EU, there's so much wasted potential in this game...

Nice of them to offer something back, but will this repeat itself with deep tokens? Or the next big idea?

Just stop, focus on improving and developing EU ffs we are still getting kicked of chat channels on every login... And thats just one of the many bugs.
 
Kim has once again been working on Calypso content for over 6 months already.

Can't wait to see what we'll get! Any hints on when the next caly VU will be?
 
Indeed, MindArk is bearing the full cost of the conversion of ComPet Deeds to Arkadia Moon Deeds.


I will be interested to see how this goes down in the financial reports and I wonder how long this conversion to Moon deeds has been on the table..

Potentially there was a sum of money reserved from the original compet sale to pay for future development which is now being returned to investors through the ark moon deeds.

My question is if the Ark moon deeds had been seriously popular and sold out straight away would compet deed holders have gotten anything at all? Or was a set number of ark moon deeds put aside for this from the very start?
 
I personally think this is how you move from being a circumstantial investor to a seasoned one.

Cheers,

Divinity

I deleted another wall of text here, and took a moment to read Divinity's post again instead. It's a fine read.

MA are doing the EU community a solid here. This is a courtesy you would not have received if you had invested in a mobile startup chasing a trend that was already on the downswing. It's speculation to us how much was actually spent on Compets, how much was held in reserve, and where the funds from this payout come from. Actual compet deed sales could be funding a good part of this.

Though TBH I doubt it. I'm just pointing this out because there are a few people that somehow seem to think that Arkadia Studios is getting the stick for this. There are any number of legitimate ways for MA to compensate a planet partner, if they didn't pay straight cash for the required deeds. This is something else we will never have a hard answer to.

Rick it sounds like you're keeping it together, as the most vocal supporter of compets for a very long time I'm glad to see you taking this reasonably well. You are right that things could have gone differently. They sold you zero rights to an (at the time) non existent product. Things could have gone a lot worse, and this has dragged on for a very long time.

Condolences again to all that invested. Nobody wants to see you screwed - but this is a good and healthy move. Your frustration and loss are real, but now the healing process begins for a wound that has really done nothing but fester for a couple of years now.

I also want to add, for those holding out hope, that with every compets deed returned MA has less and less incentive to pursue the revival of Compets. Rick stating that he and the others he knows are holding thousands of deeds are going to take this buyout and move on should be a strong sign to anyone that's thinking of holding onto a few deeds "just in case".

You assume your own risk, but to me that seems crazy, for a whole list of reasons.


Ludvig also you can take some shit like a pro ;) I know it's your job, but I just wanted to say that. Keep being stoic you're the best (and possibly only) community manager type person that MA/PPs have offered to any portal in a long time.
 
Indeed, MindArk is bearing the full cost of the conversion of ComPet Deeds to Arkadia Moon Deeds.

Why not do 1 compet deed for 1 arkadia moon deed for players who bought it directly with real money? The arkadia moon deeds aren't tradeable yet and could stil be for a year or two.

The only one who made a lot of profit here is Mind Ark themselves. Unless they have spent 750.000 dollar already on compet...
 
Kim has once again been working on Calypso content for over 6 months already.

It seems like things may be headed in the right direction and I'm cautiously excited to see what kind of progress will be made on improving EU in the future. :)
 
I'm not entirely happy. It's still 500 ped of Compet deeds swapped for 100 ped of Ark deeds. For deeds the community bought at the original price.

So many firms collapse because of management arrogance to accept their decisions were wrong, add to that the stubbornness to change direction and make it work. Look at Nokia as a brilliant example. You know they had a Swedish guy go to them with a iPhone style swipe screen way before Apple bought his patents after the poor guy went bust. Nokia ignored him. The world is littered with failed company that make bad choices.

edit 3: ok I worked it out it's still a huge loss. It still MA's f*uckup and boiler room sales pitches. If MA were McDonalds you'd get one chicken nugget and two fries in a Happy Meal. ok I did laugh at my own analogy just now (writing on the fly..hahha).....but that doesn't make it right does it.

Great analogy but you left out the Happy Meal tripled in price.

1,000 peds in petcom deeds traded in for 200 peds Arkadia Moon Deeds. Totally not happy about this.
 
what a shitshow this is.

MA dont know how to make a game work......
MA dont know how to make economics work....

jeeezus fakking christ...

the competence is just so shiny!

GL to other future investors.
 
This announcement marks a significant precedent in MindArk history.

Never have I ever seen MindArk acknowledge one of their cash grab campaigns as a failure. Even more surprising is that they are offering some form of compensation for that failure. That is a significant, and radical, shift from the normal "head in the sand" mindset which has been so characteristic of MindArk for almost two decades.

This gives me significant hope for the future. If this trend continues, we may very well see similar action taken on statues, land plots, and other flops from the past.


Seriously MindArk, huge +rep.
 
Fair play mindark. Draw a line and move on

Fair play? Explain me how? They sold deeds at 100 each with promises of high potential earnings and neat features, years after they give you back 25 peds each with none promised features delivered. I would not call this fair.
 
Fair play? Explain me how? They sold deeds at 100 each with promises of high potential earnings and neat features, years after they give you back 25 peds each with none promised features delivered. I would not call this fair.

This is how venture capital works? You invest with the hope that an idea succeeds, so you can be rewarded. When in reality, 75% of startups fail. MA should most certainly turn focus to their core competency, and abandon shit ideas like crypto and D- effort at pokemon.

Deed holders should be thrilled that MA is offering something in return, I feel in most situation a lot of investors would be left with sale of assets, and I think in this instance.. that would be like 10 USD.
 
[h=2]ComPet Announcement[/h]As such, the MindArk Board of Directors has decided to suspend any further development or marketing of ComPet, and is exploring options for potential development and/or publishing partnerships with established mobile game organizations.

Best regards,
Henrik Nel
CEO MindArk

A sad decision but a necessary one. I gave up playing Compet 6 months ago after hitting top level.

Your removal of Gold Card for no other reason than you want to however, stinks.

Please concentrate your efforts on Entropia, and make it great again. Thank you.



RIP COMPET
 
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This is how venture capital works? You invest with the hope that an idea succeeds, so you can be rewarded. When in reality, 75% of startups fail. MA should most certainly turn focus to their core competency, and abandon shit ideas like crypto and D- effort at pokemon.

Deed holders should be thrilled that MA is offering something in return, I feel in most situation a lot of investors would be left with sale of assets, and I think in this instance.. that would be like 10 USD.

Imho your comparisons are not really appropriate. MA is NOT a startup. And the so-called investors are all MA CUSTOMERS, this is very important. MA had to offer some sort of compensation.
 
MindArk has just eaten lacks of Dollars which is the real money of players. Where does this equation of 5 Compet Deed gives 2 AMD?
Its a big scam, not a failed idea of MindArk.
 
Imho your comparisons are not really appropriate. MA is NOT a startup. And the so-called investors are all MA CUSTOMERS, this is very important. MA had to offer some sort of compensation.

He meant compets as a startup i.e. mindark entry to mobile market
 
Can't wait to see what we'll get! Any hints on when the next caly VU will be?

Gold Card stops working on 30th September, so 25th September or 2nd October I'd imagine Hijacker.
 
Imho your comparisons are not really appropriate. MA is NOT a startup. And the so-called investors are all MA CUSTOMERS, this is very important. MA had to offer some sort of compensation.

new adventure for the company. they had never gone into mobile..

many projects from many large companies fail... and they are written off at a loss. imo that is what should have been done here. CLD / AUD / AMD all have inherent risk, and if MA goes bankrupt... what are you entitled to? this was a venture that was ill thought out, and which they spread the risk into the investor base (which happen to be players). but to reply to your specific note of "MA had to offer some sort of compensation" ... I 100% disagree. this is a move to save face, but will cost them in years to come. Be it from the availability of AMD to others, or selling their 'shares' for trash.

While its not 'fair' ... there should be no compensation.

what about compensation for those who invested into focused blow items before crit chance and crit damage got shit on with no warning? is anyone getting repaid the difference in market cost for what they paid vs what it is worth now?

risk..... it pretty well defines this 'game'.
 
Investment involves risk. You are lucky you got any compensation.
 
Risk will be if the project was released as planed and promised during compet deeds sale from MA.
What we got at the end was a lie...
If you prepay apartment in building that is still at construction and builder show you the plans of the building and sell you 100m2 apartment but later on builder tells you we dump the project take this 10m2 hut instead.
And then someone not familiar with all this comes to you and tell you aaah investing in something not completed is a risk you dont deserve compensation wont you like to kick him in the nuts :)
And all aside this is more like scam...
 
Risk will be if the project was released as planed and promised during compet deeds sale from MA.
What we got at the end was a lie...
If you prepay apartment in building that is still at construction and builder show you the plans of the building and sell you 100m2 apartment but later on builder tells you we dump the project take this 10m2 hut instead.
And then someone not familiar with all this comes to you and tell you aaah investing in something not completed is a risk you dont deserve compensation wont you like to kick him in the nuts :)
And all aside this is more like scam...

That's not an investment, that's a purchase. You gave them money to do this thing, the thing didn't work out as planned.
 
Why not do 1 compet deed for 1 arkadia moon deed for players who bought it directly with real money? The arkadia moon deeds aren't tradeable yet and could stil be for a year or two.

The only one who made a lot of profit here is Mind Ark themselves. Unless they have spent 750.000 dollar already on compet...

The value of the compet deeds has already been established in-game, based on revenue, which was far from what was promised. Why should MA all of a sudden make it more valuable than it is? In reality they are being extremely generous with this offer and you should be taking it smiling. Real world investments that fail just end up as a write off at best. I had a business partner invest 50k into headphones, it flopped, guess what....he is out 50k.

If you bought any number of these deeds past 10, then its all on you for not understanding the mobile market and how this was doomed to fail from day 1.

Same idea if these were bitcoins you bought at 20k....no-one will give you 20k for them anymore, and its all on you for buying into such a baseless concept armed with speculation alone.

Still very glad MA made this call.
 
That's not an investment, that's a purchase. You gave them money to do this thing, the thing didn't work out as planned.

All they did was a game with name Compet game... no real connection between taming and EU game. Its not what they collected the investment for. It was nowhere near what they planned for :) how do you call this ?

The point is to understand the difference between they did what they collect the money for and fail will be ok. But they collect the money and make something completely different and say your investment fail cous we cant do any of the things we say we will do with that money.
 
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RIP Compet,...…... think I need a beer and a calculator.

Rick

edit: Message for MA.....can I have couple of my pets transferred to EU please. Kiwi (mythic) and T-Rex (Legendary). Stick it in my inventory.

Make sure you use that calculator before you break out the beer!
+rep to a great player
 
All they did was a game with name Compet game... no real connection between taming and EU game. Its not what they collected the investment for. It was nowhere near what they planned for :) how do you call this ?

The point is to understand the difference between they did what they collect the money for and fail will be ok. But they collect the money and make something completely different and say your investment fail cous we cant do any of the things we say we will do with that money.

Agreed. I have seen some good questions but again i feel people are not asking the important question. People are so focussed on the background ( conversion of shares) that the important questions are not even being asked.

If i were invested in compet shares here's what i feel I would like to know

1. What was the total amount collected by sale of compet shares?

2. What was the development cost of the app? How much was the running cost so far for servers etc?

3. What sort of "comprehensive marketing plan" did they implement in 2018 and how much was spent on it?

4. What was the conclusion of the marketing analysis that was done to deem the project not worth pursuing?

5. What sort of deal they are looking to get in terms of publishing the software under a branded mobile game organization? What will it mean for the compet deed holders?

6. Why was the link not established with EU (since that was there in the initial plan) to be able to sustain a collaborative growth with the help of EU players? Was it development issues they did not foresee or what?


etc etc etc


If you focus on the conversion of shares, i feel you are missing the story. You will also find yourselves ridiculed for going negative on what seems like a positive aspect of the deal. Need to focus on the core and get those answers from MA.

Cheers,

Divinity
 
Make sure you use that calculator before you break out the beer!
+rep to a great player

Or in this case dip the calc in to the beer

Haha folks funny. Thank you.

Reading through recent posts it really astounding some views about owning deeds in this game.

Deeds have always been sold as revenue deeds. They're a promise to pay revenue not shares and never will be shares. If you was to check that with MA lawyers they would agree with that statement. It is only an investment if you want to use that word because you are investing for a return. In fact when MA sold CLD they were so concerned about rights on those deeds MA lawyers expressly confirmed the deeds were simply revenue entitlement deeds.

Therefore it implies all deeds are designed or placed to return an income. They are more akin to gilts if you consider MA as the government of the game. So pretty guaranteed.

It's important people understand this for their own protection. However it would appear players actually want to be screwed and calling for that. I find that unbelievable.

Therefore legally I would not be surprised if deed holders for Compet would be entitled to a full refund because the deeds did not deliver the intention of sale. Which was a promise of revenue. Now MA want to shut it down.

Now if players want to ignore their legal rights, and call it a venture capital investment, then that is a foolish view, because we leave ourselves open to abuse.

In my view MA are the lucky ones should we accept their offer. I'm pretty confident I'm correct with this legal interpretation . But rather say no I'm wrong, go see professional advice to confirm this.

Im willing to let it go for the sake of them game. But for the record I'm just letting MA know that I know what they're attempting to get away with.

Rick

Ps: writing on a tiny little mobile so ignore any spelling etc. Good night.
 
You were guaranteed a percent of revenue, that's not a guarantee there will be revenue. Calypso already had long term revenue so CLD were lower risk. ComPet was a startup, you bought rights to a percent of revenue when there was no revenue yet.
 
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