[LVP-09] Community Vote on the Developmental Deprioritization of Arcane

Summary

Governance vote to dictate the future development priorities or winddown of Arcane

Rationale

Given the long-term degradation of macroeconomic conditions and the continuing downsizing of TIP-08-related emissions in 2024, the LifeVerse Council has material concerns with the sustainability and monetization capabilities of Arcane without materially expanding the team and resources working on the project. This severe resource constraint, combined with macroeconomic headwinds, is leading the Council to propose to the community options that will increase the sustainability of DAO operations and allow the DAO to focus resources on products that will maximize benefits to Imbued Souls.

Proposal

The Council is putting forward three options, all outlined below. For the avoidance of doubt, the Council is recommending Option 1, which we believe has the smallest negative impact on the Arcane user based and associated NFT collections.

Note: All three options will result in Arcane receiving no new features nor a path beyond the current minimum viable product state.

1) Option 1 (Estimated Cost: 21.5 Eth ($38,700 @ $1,800 ETH)

• Refund all Wizards at the cost of .0299 ETH per Wizard (the cost of the mint)
• Refund all gas costs incurred by players
• Shut down the Wizard mint
• Delist the collection from Trove
• Shut down all related contracts/front-end UIs
• Refunds would occur via an airdrop with the holder snapshot already taken . Do not purchase Wizards as you will not be eligible for the airdrop.

2) Option 2 (Estimated Cost: $15,000)

• Make slight improvements to the game, reasonable gas optimization, and fix material bugs.
• No new mechanics or development would occur outside except for the following:
• Art for the remaining 7 levels, including Camp, Questing maps, and Hunt Assets
• No refund would occur with this option
• The mint would be closed.
• To restate, no additional improvements or development would be completed outside the outlined above.

3) Option 3 (Estimated Cost: $0)

• Cease future development of the game and leave it in its current state
• Questing and crafting would be shut down
• No refund would occur with this option
• No other development would occur
• The mint would be closed

As macroeconomic conditions improve, the Council will contemplate future disposition opportunities (e.g., sale of the project/IP to another platform) and bring those opportunities to a governance vote when appropriate.