#5 - Treasury report February 2022
We share a breakdown of the current Merit Circle ecosystem treasury including any outstanding investments.
This report contains a breakdown of the Merit Circle ecosystem treasury as of the 31st of January 2022 (herein referred to as the "Treasury").
With the coming of a new month, we are glad to share the latest treasury report. In this report, we provide an exact overview of Merit Circle’s current financial status. We share a breakdown of the current Merit Circle ecosystem treasury including any outstanding investments, buybacks and other financial activities.
This treasury report is based on the status of the treasury on the 31st of January 2022.
Treasury status
In the past month the treasury decreased from $124,968,491 in December to $113,362,115 at the end of January, a 9% decrease from the previous month. Merit Circle has realized $1,602,990.17 in total income during the month January from token sales.
Gaming operations
The past month we have been busy expanding into newly released games and thoroughly testing and preparing other games for their scheduled releases. Moreover, are closely paying attention to in-game economics to either increase, or decrease our current exposure in these games. Read along for a breakdown per game.
Axie Infinity
After the tremendous growth Axie Infinity enjoyed the past year, currently the game’s experiencing a period of decreasing earnings for those playing the game. Several efforts to change the in-game economy have led to a decrease in earning potential, including for many of our scholars.
We currently have 3,100 gamers playing Axie Infinity earning SLP (12,7% increase from last month). As a reflection of the changing economy, we are actively looking towards moving gamers from Axie Infinity to other, more rewarding games.
Vulcan Forged
The past month has been one of rebuilding for Vulcan Forged and restructuring. A wide range of our gamers in the Philippines had been struck by a typhoon causing them to lose the ability to play. On top of that, due to the vulnerability that hit Vulcan Forged, our land plots and correlating $PYR had to be migrated.
While the above caused some unexpected bumps in the road, we are actively organizing in-game events to stimulate our gamers to remain active and explore their creativity in the game.
Wonder Hero
In the middle of January Wonder Hero officially went live. Prior to the launch, we acquired multiple in-game NFTs in order to get started straight away. In a little over a week, we filled 466 accounts that are now daily playing the game. In the upcoming week, we expect to have filled all 550 slots we currently have.
The launch of a new game means we actively start to collect feedback for the team and focus on hosting events for our gamers to educate how to most effectively play the game. Throughout the little period the game has been live, Merit Circle earned a little over $7,500 in rewards.
Cyball
We are currently one of the few groups who are actively testing the closed Alpha version of the game. We must say, it’s incredible fun and very promising to roll out to our scholars once the game’s fully launched. That said, we are actively working on developing educational content for our scholars to improve their earnings from the very beginning.
Treasury overview
Treasury balance as of the 31st of January 2022 is $113,362,115
When calculating our treasury’s balance, we only include non-native assets. This means we do not count the balance of MC tokens towards the total balance of our treasury since it might paint a diluted picture of the reality.
Since MC tokens will not be utilized for investment purposes, they will not be included in our balance sheet. Those interested can view the current balance in the main wallet to be viewed in the wallet overview beneath. In that sense, we have not included Merit Circle’s AXS & SLP balance, since both are mainly used for breeding purposes marking them as working capital instead of additional treasury funds.
We will break down the treasury in four categories; cash, staking, NFTs and tokens.
Cash
Staking
NFTs
Tokens
Wallet overview
To operate completely transparent, we would like to provide a full list of wallet addresses Merit Circle currently utilizes.
Ethereum
Binance smart chain
Solana
Ronin
To conclude
As the new year came around the corner, the market started to decline resulting in a decrease in our treasury size. Nevertheless, we have continuously invested in numerous promising projects with a long-term strategy in mind. Besides that, we have opened up shop for another game, WonderHeroes and we are actively testing several others. We look forward to see how everything will plan out in this upcoming year.
Notes
All of the balances and prices are based on calculations made on the 31st of January 2022.
All of the investments made after the 31st of January 2022 are not included in the treasury report unless specifically mentioned.
This report represents the Merit Circle ecosystem treasury as of end of January 2022, which includes assets held by the Merit Circle DAO, and DAO-adjacent entities, including the Merit Circle ecosystem purpose trust and Merit Circle Squared Limited held on trust for a purpose (jointly herein referred to as “DAO assets”, “DAO treasury” or similar). The assets held by DAO-adjacent entities are not controlled by the DAO or held on behalf of it. The DAO can however exert certain checks and balances on the DAO-adjacent entities and the entities have a mission and purpose that is aligned with the DAO's, including to accelerate the growth and development of the Merit Circle ecosystem. This report has been prepared based upon information from sources believed to be reliable, including market prices, data and other information from such sources, but such information has not independently been verified and this communication makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.
This report 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 is not directed at nor intended for use by the Merit Circle community or others, and 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.
Charts and graphs provided in this report are for informational purposes only and should not be relied upon when making any decision. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others