In 2021, NFTs and blockchain-based gaming have flourished, while Fortune 500 companies such as Microsoft and Nike have acknowledged the importance of digital ownership as well as the increasing convergence between virtual and physical worlds. These factors, along with the speculative nature of the crypto community, have brought a new wave of attention, funding, and innovation to the space, which has led to the significant appreciation of the price of Metaverse plots across all protocols. Despite the top 10 projects growing over 7000% in 2021, the total market cap of Metaverse crypto networks is only $34 billion. Considering the $924 billion market cap of Facebook (Meta), the $2 trillion market cap of the gaming sector, and the influx of companies into the Metaverse, it is clear that there is tremendous opportunity in the market of Metaverses.
Despite this potential for growth, high prices, technical difficulties, time constraints, and the need for domain expertise create prohibitively high barriers to entry for many potential investors. It can be a full-time job to learn about and optimize for each opportunity, even just within a single protocol. These factors leave many retail investors at a large disadvantage. Pangea was created to address these issues.
Gm and welcome back! This is the first post since our 3-piece series on Metaverse land in which we outlined our current thoughts on valuation, in-house DAO squads, and revenue generation. PangeaDAO is focused on developing and building on our land assets while connecting with brands as long-term tenants. The purpose of this article is to share PangeaDAO’s current Metaverse land investment thesis that will guide our initial treasury allocations post-launch. It will be a living document that we will be evaluating actively and will regularly undergo updates through monthly reviews and community calls to reflect any adjustments in Pangea’s views.
The Metaverse has a long way to go. Aside from a few extreme cynics that believe it’s merely a fad, we can mostly agree there’s plenty of upside and growth opportunity. It doesn’t feel like all that long ago that there were few options across the ecosystem of decentralized digital worlds. Today, the long-tail of digital worlds is growing exponentially and the testing grounds should continue expanding for the foreseeable future.
We believe the investment entry into Metaverse land is quite good in terms of timing. Facebook’s rebrand to Meta set blue chips’ digital land on a tear back in October 2021, which has cooled off considerably while in-world building and content development has begun. Despite overall decreases in sales, the average price per parcel has not followed that trajectory. Land has changed hands over the last several months from flippers into more steady hands and now begins the development.
In this series, we will outline PangeaDAO’s strategies and current thinking for:
We’re all new to the Metaverse. New digital worlds, analytical capabilities, and immersive hardware will emerge relentlessly throughout the next decade – PangeaDAO is resolved to remain current with all of it and, we invite you to join us. We hope these articles inform the future PangeaDAO community of paths we may take and spur conversations on which options we collectively pursue.
Welcome back! We hope you enjoyed Edition One of Pangea’s Virtual Land Series. In this edition, we will outline Pangea’s plan and current thinking for: Establishing a 'DAO Squad' structure to plan, design, & execute Metaverse digital land strategies.
Digital worlds across the Metaverse are visibly sparse. Too many landowners are passive speculators, buying and holding their digital asset that is likely to grow in demand. The value of digital land, broadly speaking, depends on user growth and activity. Content will transform virtual land from an inert, speculative asset into a productive one. The vitality of the Metaverse depends on it. Perhaps, some speculators simply lack the knowledge, resources, connections, and incentives to build on their land. PangeaDAO is building a Community with domain expertise and desire to level-up the Metaverse. As famed investor Charlie Munger once said, “show me the incentives and I’ll show you the outcome.” Pangea is designing incentives for the architects, designers, connectors, thinkers, and planners to organize and build, rewarding those who enrich the ecosystem as a whole to drive community development across the Metaverse.
These types of individuals will be the driving force in creating valuable experiences in the Metaverse. In addition to internally-driven creations, the opportunity to deliver value to small, medium, and enterprise businesses is massive. In order to optimize and organize, Pangea will be establishing squads within the DAO.
Pangea was founded on the idea that every investor deserves access to the same tools, resources, and leverage that the big guys have. Pangea is about leveling out the playing field – and providing our community with the opportunity to collectively own, build, and benefit from Metaverse assets.
What started with an ideology about equitable, community-based investing is finally coming to life after months of development. Pangea is excited to announce the official presale allowlist for the upcoming $PNGA token. Please check this tweet to learn more about how we have allocated allowlist spots and check this link to ensure that you are on the allowlist.
$PNGA is a governance token, whereby holders are incentivized to participate in the DAO through our governance mining program. By staking $PNGA and making governance contributions, members can accrue additional $PNGA (Read more about $PNGA here). This is further explained in the Tokenomics of Pangea.
Welcome back for the third and final edition of Pangea’s Virtual Land Series! We hope you enjoyed Edition One and Edition Two. In this edition, we will outline Pangea’s plan and current thinking for: Generating Revenue with our Virtual Land. Virtual land will one day be a yield-bearing, high-appreciation asset, with sophisticated brokerage and financing markets in place to help people obtain it. As the ecosystem is built out, we expect the number of applications and opportunities to leverage virtual land to multiply, and the options below will pale in comparison to what will one day be available.
Decentralized finance has established itself as one of pillars of the Web3 ecosystem and Pangea will explore emergent opportunities at the intersection of DeFi and NFTs to create revenue streams from our developed land. Such revenue will not be tied to the volatile prices of virtual land, and its continued flow of revenue ensure a steady stream of funds to the treasury, from which we can fund further land purchases and builds. This intersectional space as a whole is quite nascent, and many of the existing opportunities are relatively untested and unproven. This allows Pangea to be on the cutting edge of innovation, working alongside our community and partners to develop and utilize models that will benefit the Metaverse as a whole. Options including, but not limited to, the following opportunities will be considered by the community:
To facilitate robust liquidity for trading of the PNGA token on Uniswap following the public sale, we will seed a PNGA/USDC pool using some of the PNGA tokens provisioned for liquidity incentives along with an equal portion of the DAO treasury’s USDC from the public sale. This will reduce the community’s exposure to impermanent loss at outset and establish a deep secondary market for PNGA immediately after the public sale, while allowing more prospective community members to purchase tokens.
The following article outlines Pangea's Token Economics in detail. Extensive thought and research has been put into creating a tokenomics model that i) incentivizes participation, ii) rewards holders iii) does not suffer from selling pressure & intense devaluation & iv) creates deflationary buy pressure. Additional effort has been made to ensure that whales and large players are not able to buy an extensive amount of tokens at pre-sale price, to avoid anyone having too large control of the token (& price). The vesting schedules have been made to ensure that there is a long-term incentive model in place for the core team and contributors, that both fairly rewards the team and community while also keeping the token price stable.
Token design is a novel practice and there are many models that are currently being developed or have yet to be developed to best address token utility, token distribution, and token economics. Thus the token design will be an ongoing iteration that is co-created with the community to create the best possible tokenomics for Pangea. Remaining open-minded and receptive to potential improvements is a feature, not a bug.
The first part of this article will detail the PNGA Token Utility and the benefits that holders of the token receive. This will be followed up with an outline of the token supply, distribution and emissions. Pangea has worked closely with InternDAO - experts in the fields of token design - to create an incentivizing, efficient, and sustainable token economy.
DAO 🤝 DAO
Pangea is excited to announce that InternDAO will be joining the DAO's board as an official advisor.
InternDAO is an admissions only research and development DAO focused on having fun, sharing alpha, and building the decentralized future with friends.
InternDAO will advise on our Token Design, DeFi opportunities, and Treasury Management. They'll also support Pangea's implementation of systems, processes, and structures to establish best practices for yield farming and directional trading based on our collective risk tolerance and target returns.
PangeaDAO has officially planted our flag in the history of Digital Worlds.
We are proud to announce that on 7th May at approximately 11:08pm EST 2022, PangeaDAO purchased a total of 25 contiguous plots in DCL’s Fashion District for a combined total of approximately $170,200.
This allocation represents 148,000 MANA (5,920 MANA/$6808 per parcel), and it is a foundational step in building a world class Metaverse Digital Land Treasury, one which we intend to fully develop and commercialize.
Pangea will work with our Creators Guild and partners to develop a unique and unified plan for the Estate, creating value while also seeking opportunities for revenue generation through staking, renting, commercializing, collateralizing, and more.
After months of building relationships, ideating our vision, and mobilizing a community, PangeaDAO's Presale has successfully closed -- netting 111.01 ETH! This article is to recap the event further. THANK YOU and congratulations to everyone that participated. We'd also like to thank those that plan to join us in the Public Sale and all our frens that are active in Pangea's Discord. We appreciate all of you and we are dedicated to continuously connecting with the community as we further Pangea's mission.
Pangea was founded out of the ideology that Metaverse participation should be open to all. Creators should have access to all methods of self-expression, and investors regardless of size or affiliation should have an equal opportunity to benefit. We believe in standing by our ethos, and not sacrificing decentralisation of the DAO. Therefore, Pangea did not seek nor accept any early investment prior to allowing our early contributors access to the Presale.
However, it costs resources to start a project with a strong, long-term foundation. The core team has worked tirelessly to build Pangea, bootstrapping every step of the way. We work for Pangea and Pangea's community, and will continue to do so. Our journey thus far has been entirely through bootstrapping, so we are really looking forward to kicking things into overdrive now that we have some funds. All the funds raised in the Presale will go towards adding incremental value by demonstrating our vision and our effectiveness, then launching the best possible Public Sale. Any additional funds that do not get used will go directly into the Pangea Treasury.