I agree with the marketing pricing, but there can also be different levels of Tickets?? Maybe discounts for Luna Degens, Bluechip NFT holders.
Ideas like minting different Ticket NFTs proven on chain for:
Degen & Friends
$200 Degens (Using high Lunatic Rankings) & GP / Terran/ Lunabull. HODLers. (Maybe NFT DAOS can subsidize).
#LUNATics Community Mint
$300 for Terra wallet holders with any LUNA / NFTs in their wallet, and Earlybird for Public.
#TerraCurious Mint
$400 for people that signup for a wallet and Use $UST?
#General Admission
$450 for Public minting / fiat outlets
Something like that, need to fine tune the idea more. This way we are incentivizing the LUNAtics community, but still making money from the general audience.
We considered market timings a lot, but we came to the conclusion following discussions internally and externally that the event should be a success regardless of market conditions - i.e. excellent music festivals continue to sell-out regardless of the economic conditions (in general).
Also we expect exponential growth of the Luna ecosystem, as we have seen with the number of new LUNAtics / wallets being created. With UST rapidly becoming the stable coin of choice we are confident that if any ecosystem should resist a bear market more than any other it is Terra.
The venue is very flexible with ability to expand/reduce if necessary, we feel we have been cautious with numbers but we are able to reduce capacity if required, although we are very confident we will sell the numbers outlined in the proposal.
There are a number of options with the ticketing, we have tried to cater for several levels of entry price and the glamping at $500 over the standard entry with ‘bring your own’ equipment is very competitive. To give you an idea a glamping tent at Reading and Leeds Festival is around $700 + the ticket price.
The feel is very exclusive with limited numbers etc, we aim for this to be a high-end experience mixing with the VIP’s in the community/crypto world along with top-class artists and entertainment. Let’s all hope Luna is flying so as many people can attend as possible.
Thanks for your feedback and we are looking to do another AMA on 27th December, join us to discuss further.
You’ve raised some great ideas that the team has already thought about. The ticket pricing will be more detailed than the outline plan and most definitely we are talking with some of the OG NFT projects in the ecosystem to open up exclusive areas/discounts/giveaways. The team members from TeFi Alpha have already given us other ideas too and we will work closely with the community, protocols and projects to reward LUNAtics!
The business plan here is high level for ease, but if we get the grant we will set out a detailed roadmap and include more information on how the event will come about.
We feel like the first day would be a more relaxed affair with informal networking and light entertainment, but this has yet to be fully decided. Appreciate the feedback!
Absolutely incredible idea that I am fully onboard with.
$500 ticket price is cheap for a 3 day event, especially given the ability to pay in UST. I think you could offer a sliding scale payment (so if we are having a good run, people would pay more.
Is the initial fund being requested from us or TFL? I think TFL would easily apportion that amount into anchor to cover costs just from yield.
Idea: If you want community to fund, would an IDO type affair be a great way to raise funding? Profits could then be apportioned to the token/costs & Angel?? Might make it too complex??
Another great initiative would be payment sustem so that all vendors accepted only card (chai/kash or similar). None crypto filk could pay a deposit for a card and load it with UST to be spent drink/metch/food/gaming etc - would ease adoption and also make it a cashless event. Football stadiums do it, you have added revenues from people leaving a balance on the card at the end of the event (though easy enough to allow on/off ramp into a wallet).
I would look at budgeting costs again, travel seemed very light for example. If run as a non profit that used a yoeld from initial deposits, you could spend apr earned without touching the principal until ticket sales paid back the principal.
I have lots of ideas and only two thumbs typing. Basically, I’m in. I hope I will be able to afford vip, as I’m ‘wiser’ than the average age
Some awesome comments here, some we’ve considered and others we will definitely consider!
We like the idea of keeping the festival as competitive as possible (you will see from an earlier response that they thought $500 was a bit too high - although we think it is very fair considering the experience we want to offer) so holding price might be crucial to making it a sell-out, but if we see huge demand this could certainly be an option.
We approached TFL and they don’t get involved with governance spend like this so would need to go through the normal voting process (although we did get an offer of a small amount to help, which for the record we did not accept).
We want to look at tokenomics further down the line (year 2 etc) with the long term view of a DAO. However we are going with the most straightforward process to begin with and we will return the initial investment as soon as possible to go back into the community pool for future ideas.
With regard payments there are some fantastic ideas here and as you can see we want UST to be the currency of choice, hopefully by the time we get to 2023 we have a plethora of options exactly like you say where natives can use Alice/Kash type cards to pay with UST and non-natives can preload UST easily and spend at all traders, merch stands etc inside the festival. FIAT payments would be a premium, so UST exchanges would benefit from discounts for example.
We have gone light on Travel, and exactly like you’ve mentioned the ticket sales would essentially mean we are able to self-fund from there and return the principle. We haven’t pledged to return directly after year 1 in case we see a huge opportunity to scale up quickly and holding for a further amount of time would enable this.
We hope you’re involved! Not only as an attendee but also involved with the event itself, we really appreciate your support. Thanks again
If you make the tickets for entry NFTs which we produce on our phones to gain entry and we have to mint our tickets prior to the event and get to keep the NFT as a collectable asset and of course every subsequent NFTicket and if you have an area with VR metaverse stations so I can fuck off to the metaverse whenever I please then I am in!!
If this gets closer to passing and actually happening we could also talk about a Luna Bulls presence at the event… by presence yeah probably me walking around dressed as a Luna Bull… :-)))) what?
*side note, does this have to be in the United States & Kingdom of Englandland? or can we make it in Brussels or Berlin maybe?
I like the idea and don’t want to sound like a party pooper but the $50K budget for talent and a keynote speaker seems a bit too small if you want entertainment covering 3 days and worth $500/ticket.
Also, a $500 3/day ticket seems appropriate for outsiders but LUNA stakers should have access to ticket prices closer to cost.
This is a great initiative, however centering of events into the western part of the globe seems problematic to me.
Since LUNAtics are a global community, I think distributing events across the continets will provide the Asian & South American an equal opportunity to participate. I’m considering the price of ticket as well as visa issues.
Even more than the price of the ticket, getting a tourist visa to visit any western country for us Asians is a huge hassle.
