Topic: DORCS Games Asset Purchase Starts NOW! (Read 2123 times)

Damelon · June 14, 2014, 11:01:13 am

DORCS Asset reservation open NOW!

We are now open to accept your offers for DORCS Assets.

We have received reservations for 70,250 Assets from our early supporters, which amounts to 8,78 % of our Assets sold.
729,750 Assets are open for sale, at 10 Nxt per Asset.

What is Lith, and what are the plans:

You can download the document containing our company information here.
Feel free to ask questions here in thread or in My PM.

What do I need to do to get DORCS Assets?

If you want to order our Assets, please send an Arbitrary Message containing your forum name and the amount of Assets you would like to purchase to account: NXT-Z2LU-FJJS-923W-DRFNN.
We will accept your offers during a period of one week.
After this week all offers will be tallied and if necessary scaled to ensure that all offers can be fulfilled, e.g. if the total offers is for 700000 Assets but only 600000 are available then everyone can get 6/7 of their requested amount.
The minimum offering will be 100 assets or 1000 NXT, and in the scaling process offers will not be scaled below this amount.
The Issuing account will send all offers an AM containing the number of assets and the amount of NXT that needs to be transferred to purchase.
Once the NXT is received by the issuing account the assets will be transferred to the offering account.

This may seem complicated but it means that everything is visible and transparent, can be verified via public ledger and gives everyone a chance to buy into DORCS irrespective of life commitments and timezone.

More information
Should you require more information, please let me know. I will be happy to answer any questions you may have (provided they concern DORCS and Lith!)

Breasal · June 14, 2014, 05:46:42 pm

AM sent

Damelon · June 14, 2014, 06:12:18 pm

Received

Thank you!

MJ79 · June 16, 2014, 06:43:23 pm

Questions about article 12:

What happens if a group of investors that together hold more than 50% decide they want control?

Are director's assets a different asset from the standard one? Or will you just create 2 million standard assets and 500 thousand of those are director assets?

And what does "merge with another AE listed activity" mean exactly?

Damelon · June 17, 2014, 05:24:53 pm

Quote from: MJ79 on June 16, 2014, 06:43:23 pm

Questions about article 12:

1. What happens if a group of investors that together hold more than 50% decide they want control?

2. Are director's assets a different asset from the standard one? Or will you just create 2 million standard assets and 500 thousand of those are director assets?

3. And what does "merge with another AE listed activity" mean exactly?

Point 12 are our *possible* exit strategies.
These were put in to make sure we would be prepared for such an eventuality.
Let me state first that we do not expect them to happen at this point.

Your questions:

1. The Assets we are issuing ONLY give a right to a part of the profits. They do not confer rights in the company. So this would not be possible by buying up 50% of the public Assets. This wóuld be possible if three of the directors sold the rights to the company off.

2. All Assets are equal. There will be 2 million assets issued. 500,000 will go to the five directors, who cannot sell them for at least 12 months. To make these Assets of any value, we will need to work and work hard. In addition to this, each director "owns" 20% of the company voting rights.

3. One of the ways we could see that lith would ever be "sold" would be a takeover by another AE listed company. It would make it easier for them to fulfill the obligations towards assetholders.

I hope that makes the difference between the Assets, the rights that the Assets confer and directorship of the company.

rlh · June 18, 2014, 02:40:57 am

AM Sent.

Graviton · June 18, 2014, 03:39:47 am

I'm impressed on this ambitious project. The prospects are mind blowing and this is by far the most potential project within NXT along with a few others in their different, respective areas.

The pricing reflects the ambitions of the authors and - even in NXT-land - can be considered high entering the million dollar range for a startup. I would like to cheer for this project, but there are a few issues that demand clarification.

So, the tough questions.. Please forgive if I have missed some in the quick review of the placement prospectus;

- what is planned schedule for release? I think I missed it after the last phase of funding?

- 4 Million NXT for phase 2 from alpha stage to production. That is a quarter mil euro at the current NXT rate. Looking at the 1st phase funding of 500 000 EUR (supposedly at least, easily doubled-quadrupled depending on NXT and BTC rate), what is the activity you plan to spend the 250 000 to polish an already functional product into release condition? I understand you prefer to have sufficient funding, but just how do you plan to burn this kind of money in the relatively short timeframe when development cost should be low? You'll have hard time sinking it into banner ads in the MMORPG scene

- who / what party is the one issuing / selling the shares?

- how are profits defined and what costs will be deducted? Given that you plan to cover costs from the share sale proceeds, will the whole turnover be considered profit? If not, what proportion of it? Are wages or other costs a liability affecting investor profits?

Thank you!

Damelon · June 18, 2014, 09:45:27 am

Quote from: Graviton on June 18, 2014, 03:39:47 am

I'm impressed on this ambitious project. The prospects are mind blowing and this is by far the most potential project within NXT along with a few others in their different, respective areas.

The pricing reflects the ambitions of the authors and - even in NXT-land - can be considered high entering the million dollar range for a startup. I would like to cheer for this project, but there are a few issues that demand clarification.

So, the tough questions.. Please forgive if I have missed some in the quick review of the placement prospectus;

- what is planned schedule for release? I think I missed it after the last phase of funding?

- 4 Million NXT for phase 2 from alpha stage to production. That is a quarter mil euro at the current NXT rate. Looking at the 1st phase funding of 500 000 EUR (supposedly at least, easily doubled-quadrupled depending on NXT and BTC rate), what is the activity you plan to spend the 250 000 to polish an already functional product into release condition? I understand you prefer to have sufficient funding, but just how do you plan to burn this kind of money in the relatively short timeframe when development cost should be low? You'll have hard time sinking it into banner ads in the MMORPG scene

- who / what party is the one issuing / selling the shares?

- how are profits defined and what costs will be deducted? Given that you plan to cover costs from the share sale proceeds, will the whole turnover be considered profit? If not, what proportion of it? Are wages or other costs a liability affecting investor profits?

Thank you!

Plan for release: to be completely honest, we have no firm ETA for release. What we want to do here is a marriage of blockchain technology and MMO networks, and as far as we know, this has not been done before. We simply do not know what we will encounter along the way. We plan to reach early alpha stage around November this year. That is as far as we have made a firm commitment. However, for something really solid, we are aiming at 12 months, subject to change.

Second stage: The second stage funding is a "reserve". If we do not need it, we will not do it. If the price of Nxt rises, we certainly will not need it. We will then offer these shares on a 1-2 basis to existing Assetholders.

Party issuing the shares: At this moment, we, as a group are issuing the Assets. We are a group of individuals, operating under the DORCS flag. Eventually, we will set up a registered corporate structure, but that is not yet on the map.

Profit definition: Profit is defined as revenues received from in-game transactions and fees, minus development, infrastructure, marketing and operations costs.
Most development costs will of course be pre-launch, whereas infrastructure and operation costs will be recurring costs. We will be happy to send you our revenue concept sheet, so you can see the method on which we have based our projections. Please PM me if you would like to receive it.

chanc3r · June 18, 2014, 07:16:23 pm

Quote from: Graviton on June 18, 2014, 03:39:47 am

What is planned schedule for release? I think I missed it after the last phase of funding?

I would expect to have a testnet playable version within 4 months of the closure of the funding round (assuming we get enough funds) soon, we wont start if we dont we wont waste peoples money, after this it depends on the testing and the help we can get doing this.

Quote from: Graviton

- 4 Million NXT for phase 2 from alpha stage to production. That is a quarter mil euro at the current NXT rate. Looking at the 1st phase funding of 500 000 EUR (supposedly at least, easily doubled-quadrupled depending on NXT and BTC rate), what is the activity you plan to spend the 250 000 to polish an already functional product into release condition?

When we did some of our calculations NXT was at $0.035, now its around $0.07, it could change again, we are paying the DEV's in NXT so to some degree we and they take the risk on this, we will set the task bounties regularly and agree them with the devs.

There are 'no salaries' people are paid for delivering, not for existing. The directors cannot trade their awarded shares immediately to ensure we have to make the game work for those shares to be worth something when they can be traded.

Profits are paid equallty to all shareholders based on holding on the day thay are paid, up to 25% will be reinvested and 75% will be returned to investors – there are no 'hidden' dividends to directors.

Quote from: Graviton

- who / what party is the one issuing / selling the shares?

- how are profits defined and what costs will be deducted? Given that you plan to cover costs from the share sale proceeds, will the whole turnover be considered profit? If not, what proportion of it? Are wages or other costs a liability affecting investor profits?

I think Damlon already answere those... in addition...

Yes it is ambitous, we have spent 4 months on this in between various RL comittments and other NXT community commitments.
We have over 100 pages of Game concept documentation, various spreadsheets etc.
We know we needed to recruit to make the game possible.
We needed a client dev – we found an entire company
We needed a game server dev- we found someone who has worked on AAA games like Elderscrolls
We needed a dev to do the decentralisation – we found someone who has done an alpha clone of NXT in a weekend.
We needed artists – we found some great ones and you have seen examples.

Creating a game which blends the decentralisation of the blockchain with cutting edge game server interaction and the world class graphics of a client framework like unity is ambitous – but no more ambitious than NXT itself.

Is it high risk – yes its off the scale like most things around here but we are going to give it a damn good try. We wont spend a Quant more than necessary and at the moment expect to deliver within the budget of the first investment phase.

MJ79 · June 18, 2014, 08:31:23 pm

Quote from: Damelon on June 17, 2014, 05:24:53 pm

Point 12 are our *possible* exit strategies.
These were put in to make sure we would be prepared for such an eventuality.
Let me state first that we do not expect them to happen at this point.

Your questions:

1. The Assets we are issuing ONLY give a right to a part of the profits. They do not confer rights in the company. So this would not be possible by buying up 50% of the public Assets. This wóuld be possible if three of the directors sold the rights to the company off.

2. All Assets are equal. There will be 2 million assets issued. 500,000 will go to the five directors, who cannot sell them for at least 12 months. To make these Assets of any value, we will need to work and work hard. In addition to this, each director "owns" 20% of the company voting rights.

3. One of the ways we could see that lith would ever be "sold" would be a takeover by another AE listed company. It would make it easier for them to fulfill the obligations towards assetholders.

I hope that makes the difference between the Assets, the rights that the Assets confer and directorship of the company.

Ok, thanks. The text of article 12 actually had me doubt if you were just selling profit shares or actual shares in the company. So I guess you cleared that up

Damelon · June 21, 2014, 06:26:30 pm

Just a quick post to tell you that we will start sending you the messages to send the Nxt and receive your Assets, tomorrow

We will also give info on what the current tally is and how we will proceed.

Damelon · June 22, 2014, 10:32:34 am

The DORCS Asset has just been issued! https://nxtblocks.info/#section/assets_exchange/2318361924203311027

I will now start sending all of the people who have reserved Assets to send the amount of Nxt they want to invest, after which I will send out the Assets they reserved.

Please keep an eye on your PM box, so we can make this smooth and easy

yassin54 · June 22, 2014, 10:42:00 am

Quote from: Damelon on June 22, 2014, 10:32:34 am

The DORCS Asset has just been issued! https://nxtblocks.info/#section/assets_exchange/2318361924203311027

I will now start sending all of the people who have reserved Assets to send the amount of Nxt they want to invest, after which I will send out the Assets they reserved.

Please keep an eye on your PM box, so we can make this smooth and easy

Lest's go!!!!!

Damelon · June 22, 2014, 11:33:20 am

I have sent everyone I have on my list either a PM or an AM on the blockchain.

If you have not been contacted in either way, please let me know by PM, so we can still process your Assets

Damelon · June 23, 2014, 11:59:07 am

DORCS Gaming is proud to present the release of our Asset to the open market.

DORCS is producing the MMO game Lith.
We have allowed people to reserve Assets, because we wanted people to be able to gauge the reaction of the community for our plans, and also to be sure we would be able to pay our developers.

Now that most pre-ordered Assets have been transmissed, we will release the rest of the initial offering of 800,000 Assets to the open market.

You can download the document containing our company information here.
Feel free to ask questions here in thread or in My PM.

Asset details can be found here: https://nxtblocks.info/#section/txid/2318361924203311027
For a complete description of the properties of the Asset, please look here.

Trade details can be found here: http://www.nxtreporting.com/?a=2318361924203311027

Preordered Assets will be held! If you want to claim them, just follow the instructions in the PM you received!

[NXT]YmonAsterZ · July 11, 2014, 11:09:53 am

I searched the AE for DORCS with no hits.
I also tried the address NXT-Z2LU-FJJS-923W-DRFNN.

What am I doing wrong?

Damelon · July 11, 2014, 11:14:45 am

Quote from: [NXT]YmonAsterZ on July 11, 2014, 11:09:53 am

I searched the AE for DORCS with no hits.
I also tried the address NXT-Z2LU-FJJS-923W-DRFNN.

What am I doing wrong?

This is the Asset

http://www.nxtreporting.com/?a=2318361924203311027&c=USD

Number: 2318361924203311027

If you use the standard client, you can use "Add Asset" in the top right corner to add the Asset to your AE view

ApolloE · September 12, 2014, 11:18:54 am

Hello guys,

For now DORCS Asset has the following price 10NXT because the Project are not complete yet and not official released.
What is your forecasting about DORCS asset in the following months after the release? Or to be correct what are your goals about the asset for the next 3 months after the official release

Thanks

Jimmy2011 · September 12, 2014, 03:22:03 pm

I just downloaded the game and played several minutes, wow, so great quality though I don't understand how it is based on Nxt and why it is called p2p blockchain game. BTW, the first simple cryptocurrency game, huntercoin.org, is based on blockchain, but the game mechanics and chain bloating is a little difficult for general users and it is still under further development. Look forward to Lith alpha release.

Damelon · September 12, 2014, 06:16:44 pm

Quote from: Jimmy2011 on September 12, 2014, 03:22:03 pm

I just downloaded the game and played several minutes, wow, so great quality though I don't understand how it is based on Nxt and why it is called p2p blockchain game. BTW, the first simple cryptocurrency game, huntercoin.org, is based on blockchain, but the game mechanics and chain bloating is a little difficult for general users and it is still under further development. Look forward to Lith alpha release.

The game that you downloaded was just a "try out" to show what our devs could do with the Unity Engine. It was made in about 4 hours

It bears no real resemblance to the game as it will be.

The challenge we face is indeed the chain bloat, but we are now building the prototype server to see if our ideas for reducing that significantly will work as we expect.

Starting next week, we will be getting our new website online, and also start a newsletter service so we can keep people up to date.

Quote from: ApolloE on September 12, 2014, 11:18:54 am

Hello guys,

For now DORCS Asset has the following price 10NXT because the Project are not complete yet and not official released.
What is your forecasting about DORCS asset in the following months after the release? Or to be correct what are your goals about the asset for the next 3 months after the official release

Thanks

We can offer no real forecast on the price at this point. We are still in such a "starting" phase, that any prediction would probably be premature and give false information.
We are now going into "outside Nxt" fundraising-mode, which should give us a much better idea of the amount of interest there is for this project.
Based on the reactions we get from both that, ánd from our online presence, we can gauge better which way it will go.

News:

Author Topic: DORCS Games Asset Purchase Starts NOW! (Read 2123 times)