#16 - September 2022 Development update
Welcome to the 6th official newsletter from Merit Circle
Welcome to the sixth official newsletter from Merit Circle.
In our previous newsletter we first introduced Sphere, our NFT marketplace, gave an update of the gaming platform that we’re building and shared various updates on the governance-side. Ever since, a lot has happened, but we also felt like including some more updates from our portfolio companies!
Carry on as we summarize what has been happening since the last newsletter, and accompany us as we look ahead!
Portfolio update
We’re proud to work with dozens of amazing partners all over the world contributing to the web3 gaming space in their own manner. We’re regularly receiving updates from these partners on development, market analysis and anything in between. To give our community some more insight, we will be highlighting three portfolio projects in each newsletter.
Metalcore
The upcoming massive multiplayer, open-world blockbuster Metalcore is excited to announce the Open World Alpha launch of their game. This will happen on the 21st of September as the first release of the game. Holders of the Metalcore Infantry NFTs will be able to access and play this Open World Alpha. In a variety of 5vs5 matches, players can try out various game vehicles like aircrafts and mechs.
Coming back from PAX West in Seattle, tons of visitors had their first opportunity to play Metalcore at their booth – Check out their twitter for a little peek behind the scenes!
Planet Mojo
Planet Mojo, the hotly anticipated Web3 gaming metaverse, have been playtesting their pre-alpha version for their first title, Mojo Melee. The playtesting has been done with a range of early supporters of the project in organized sessions displaying the core mechanics of the game. Each round 8 players battled against each other introducing the game.
“We are incredibly excited to let our community be the first to playtest our pre-alpha build of Mojo Melee. The autochess genre has been gaining traction over the past three years, and we’re pushing the envelope by introducing fresh concepts in the Web3 context” - Mike Levine, CEO and Founder of Mystic Moose.
Flair Finance
Serving various other companies within our roster, Flair Finance is doing an incredible job at making the lives of many founders easier. Instead of having to deal with complex minting schemes, spending time, money and effort into onboarding new developers and what not, Flair has some out-of-the-box solutions that are ready to go.
One example is their NFT minting contracts used by Goons of Balatroon. The Flair team created multiple sales tiers with different NFT allocations, prices and minting window timelines. Considering the optimized gas contracts, a low gas fee made for a seamless minting experience. Besides the NFT minting solution, Flair has a ‘Revenue Sharing’ option and a ‘Backend Minting' feature available in their Dashboard.
Interested in one of their solutions? Reach out to Flair Finance!
Newly formed collaborations
We are constantly looking for new potential investments and collaborations to broaden our operations. Since our latest newsletter, we formed a strong set of partnerships that we’re more than delighted to share with you:
Treasury report
To properly show what we have been doing in terms of handling our treasury and the funds raised, we share a monthly treasury report.
A small quote that summarizes the treasury report of the previous month;
In the past month the treasury decreased from $107,328,764 in July to $103,696,823 at the end of August, a 3,3% decrease from the previous month. Merit Circle realized a profit of $3,327,539$ in the month of August.
Read the full report here.
Merit Circle’s One Year Anniversary
On the first of September 2022 we celebrated the first anniversary of Merit Circle. It’s been an absolute pleasure to work with so many talented individuals towards the same goal this past year, and we can’t wait to see what the future holds. We took the opportunity to look back at everything that has happened, and briefly look ahead.
Community sentiment update
Based on feedback received from the community, a new initiative was launched a while back in the community’s race towards optimal transparency and accountability. These community sentiment updates, or governance updates, will focus on the governance related part of the Merit Circle ecosystem, i.e. a summary of what is going on in the community. This is to avoid overlap between what is reported in our newsletters.
In July we published the first edition of these updates, and we now have another edition that has been released on the 7th of September.
Together, we grow
With the conclusion of a year of Merit Circle, we couldn’t be more proud of what we have accomplished, and excited for what is yet to come. With each day we learn more and we find new ways to grow. It’s the support that we’re receiving throughout that allows us to do what we do every single day, and we can not thank everyone enough.
The next phase of Merit Circle will be all about execution; launching products, seeing various games go live and accompanying our community to explore the web3 space with us.
Again, thanks everyone for your support. Together, we’re building the metaverse!
Our next newsletter will be sent early November.
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, financial or tax advice. You should consult your own advisers as to those matters. References to any digital assets and the use of finance-related terminology are for illustrative purposes only, and do not constitute any recommendation for any action or an offer to provide investment, financial or other advisory services. This content may not under any circumstances be relied upon when making a decision to purchase any digital asset referenced herein. There can be no assurance that the investments mentioned herein will be profitable. The digital assets referenced in this report currently face an uncertain regulatory landscape in several jurisdictions. The legal and regulatory risks inherent in referenced digital assets are not the subject of this content. The content speaks only as of the date indicated.