Incoming Narrative Real Estate Crash in 7 Months

Product: Narrative

This is an issue included in my post "A Few More Suggestions For Narrative" which I am bringing to discussion now before it is too late, because considering some comments in the post above, I believe Narrative Staff is not giving this issue enough attention and some Niche Owners are forgetting that Niches have expiration dates (being the first year and all...)

Ok, so quoting:

"The Impossibility to Break Even for Honest Niche Owners

I currently own 4 Niches. One of them has no content to the time of this post. I know of Narrators who own the whole 10. We are 7 months away from the first Niche expiration dates. How are most of us supposed to break even? It's impossible. What we are looking here is a foreseen severe crash in Narrative real estate that will deeply impact the state of the platform, as most of us will not want to renew Niches and most of the rest of the Narrators will not want to buy them, given that the return on investment is already proven or expected to be negative. This will impact the platform in a tremendously negative way, given that not only those Niches had zero to little posts, but they are now closed until renewed.

Will Narrative become a platform for spammy smartphone photos and quick social media eye-candy, instead of a real high-quality content journal?

I suggest that on the first years or so, the renewal fee is decreased and adjusted to the current market or we are looking at a very slippery slope towards a massive market crash."

To which @Malkazoid immediately offered very real and easy suggestions:

"Two things can be done. 

a) Reduce the minimum price of niches that are not selling at $75

b) Remove the minimum renewal fee of $75 for niches.  Make it 20% across the board.  If a niche made $1 in the year, charge a renewal fee of $0.20."

This issue should be addressed and clarified to the community as soon as possible to encourage the purchase of more Niches and bring more hype to the platform, because we are at that phase right now.

In my opinion, if we keep renewal rates at 75$, that'll be it: 50%-70% will not be renewed, many people are going to go berserk, lose faith in the platform, cash out and be on their way. It may not be as bad as it looks, but there will be an overall notion that the platform is losing momentum... that is the real issue here. Will it be enough to sink all the work done so far? Maybe yes, maybe not, but for sure it's gonna rattle us to the bones. We should only lose momentum in the 5 year line, once we are done and settled at least.

Sorry if it sounds I'm there in the trenches with you guys coding it out and sharing pizza, I know I'm not, but like I said many times before: amazing potential here.

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Well said @Nuno Moreiras

I'm running out of time so I'll keep it short.

I already thought about to keep the Niche ownership fees low or to keep it for a single time pay for the Beta period.  Or until we hit the minimum user base, maybe around 100K? So the Niche owners can profit from their Niches and think about to renew it. We already passed 7 months in Beta and this issue is very loud and clear now. If the Niche owners didn't get motivated in anyway, they might dump their Niches at the renewal time for sure. 

I'm pulling what might seem unrelated from another topic here. If the price of NRVE was to increase to a certain level, I think the pressure would be released from the Niche renewal issue - to this end, putting staking in place - one way or another - to help push the value of the token, might be useful. Lowered prices for unsold niches is another income generator. @New Social Media @Maxwell Bruno @Malkazoid have all put in suggestions for various income strategies - and there's always room for more 

correction @Maxwell Bruno posted on the platform - and the suggestion also addresses reducing spammy posts 

I don't think reducing the number of posts to 3 a day would result in any satisfactory outcome, in my opinion. I could still make 3 posts a day in one or more voting circles and still hog a huge share of the monthly rewards with very little effort.

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This action was taken by David Dreezer.

I think there are a lot of people who will not be renewing niches. Some of us have said this all along - $75 is an inflated and artificial price for most niches. It makes sense as an initial fee to own a niche, because you have to start somewhere. But very few people are going to renew at that rate if they don't make any significant revenue. I think the 20% of earned rewards is a good barometer. 


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