Niche renewals

Service: Narrative

My understanding is that niches are basically "rented" for a year, so I have some questions:

1. Do they come up for renewal on the anniversary of their initial win in Auction?

2. What happens to the posts on a niche that is not renewed?

3. How will "selling" niches work with rewards? 

So far, I am not seeing a great ROI on niche "ownership", my niches were not chosen for mainstream popularity and I do understand that the domain-like rental generates more cashflow to the NRVE base and rewards base. And I am promoting both Narrative and my specific niches, but I will be thinking hard about renewing some of my niches. 

Thanks in advance for any and all perspectives on this (as well as any hard answers any one has).

Original Post
Votes (1)
VC Nickels

Activity Stream

Yes, I've looked at https://spec.narrative.org/docs/niches and my questions are still not totally answered...but I did discover that:

"Once the niche is paid for, the person that suggested the niche receives a commission equal to 10% of the fee paid. The remaining 90% of the niche ownership fee is reserved for Network Rewards. There are no commissions on renewals. NOTE: this assumes that a niche suggestion fee is required. That feature is still just under consideration. Until/unless a suggestion fee has been applied, 100% of the niche ownership fee will be reserved for Network Rewards."

So now I have another question:

If you successfully bid on a niche you suggested, are you supposed to get a 10% commission back?

I ask because the majority of my niches were ones I suggested. And I didn't see any commission line item in my Rewards.

And yes, I see it was still under consideration - but...there are not dates on the documentation, so how often does it get updated?  I must assume that it was decided to table that 10%. But it would certainly help to offset the fact that very few of the niches will actually be profitable to "own".

 

And what rate will we have to pay?  I have a niche that says it's up for renewal in 2020 but there isn't any information. Honestly, we should "own" the niche in perpetuity barring violations etc. 

The "rental" system is a cash grab.

Serroc posted:

And yes, I see it was still under consideration - but...there are not dates on the documentation, so how often does it get updated?  I must assume that it was decided to table that 10%. But it would certainly help to offset the fact that very few of the niches will actually be profitable to "own".

 

The spec is updated regularly. Right now there is no date on the 10% payback.  It's all about priorities. As you know, we are currently working on redemptions, publications and notifications. 

Still would be helpful to see an update date on these...helps prevent a lot of misunderstandings...to see that something is active or not. Thanks @MOLLY O - did I miss the last Rev date on that doc? (I'm old, that's my official excuse when I miss stuff) LOL.

 

This is pr

MOLLY O posted:
Serroc posted:

And yes, I see it was still under consideration - but...there are not dates on the documentation, so how often does it get updated?  I must assume that it was decided to table that 10%. But it would certainly help to offset the fact that very few of the niches will actually be profitable to "own".

 

The spec is updated regularly. Right now there is no date on the 10% payback.  It's all about priorities. As you know, we are currently working on redemptions, publications and notifications. 

This is problematic.  

If people bought Niches they suggested because they where told they'd get a rebate that should have happened at the time of purchase. This statement is basically saying "we'll get to it when we get to it"

MOLLY O posted:

@VC Nickels

 The spec is very clear that this is a feature that is under consideration for the future.

I understand that.  If you hooked people into buying a niche they suggested though because of the rebate you'd think it would be a little higher on the list than "we'll get to it"

This is a problem across the tech sphere, I see it *all* the time in games and programs.  Lofty promises are made that lure people in and then *poof* nothing.

It's not always a huge issue though, things happen and we're all adults - mostly. How a developer handles it though is.  There's only so long a dev can use the old "It's in the works" chestnut before the users get restless.  

But, hold on... you just said "its under consideration"... was that not a promise you made in the beginning? You told people if they ended up buying a Niche they suggested, they'd get a 10% rebate or what have you.  So is it under consideration or is it something you're working on?

@VC Nickels, this was never promised to anyone (and that has always been clear), so there is no bait-and-switch, as you are insinuating. In fact, it was never even a feature in the original whitepaper; it was a good idea suggested by the community that we think has merit. It's likely to be scheduled in the future (though not guaranteed, as clearly stated in the spec). Until then, the Niche suggestion, approval, and purchase process will remain as it is.

Keep in mind that when the feature rolls around, Niche suggesters will also have to pay a $5 fee in NRVE in order to suggest a Niche (with the intent of keeping suggestions quality). The 10% commission will not be put in place until the suggestion fee is also in place. Further, the 10% commission will not be retroactive. If you didn't pay a suggestion fee, you won't be eligible for the commission, as stated in the spec.

To answer @Serroc's question: yes, if you suggest a Niche (paying a $5 suggestion fee in NRVE once it's supported) and subsequently purchase it once it's approved by the community, you would be eligible for the 10% commission.

Finally, to put a few answers to the original questions at hand:

  1. Yes, it will be on the Niche anniversary. For Niche's purchased prior to the Beta launch April 2, the renewal date will be April 2. The specifics of the renewal process and fees associated can be found in the spec here: https://spec.narrative.org/doc...es#section-3-auction
  2. The short answer is posts will remain in the Niche, and the Niche goes back up for auction. You can read more about Orphaned Niches in the spec: https://spec.narrative.org/doc...tion-orphaned-niches
  3. The selling process is purely an auction process. There will be no mechanism for a "private sale" (or transfer) of Niche ownership. You can read about the process more here: https://spec.narrative.org/doc...on-reselling-a-niche

Hope this helps clear up the confusion!

Thanks @Brian Lenz it clears up some - I had already read the specs but since no dates or indication of priorities are on that document, I wasn't sure if it was still valid or not. For example: Orphaned niches- it mentions that they eventually become read only if not purchased, but it is not clearly stated whether the content creator will still be rewarded for their articles in those orphaned niches.

I can be patient to see if the rest catches up as features come out. 

I don't know how the niches with little to no ROI will fare, though. It isn't worth it to me to invest in a niche that doesn't at least pay for itself, and so instead of holding niches whose subject holds passion for me, I will be looking instead for those that promise profit. But it also seems scary for those folks who have written quality posts in those not-so-profitable niches. Which saddens me a little bit, but I understand where you are coming from, and it is impossible to satisfy everyone all of the time.

Serroc posted:

 

I don't know how the niches with little to no ROI will fare, though. It isn't worth it to me to invest in a niche that doesn't at least pay for itself, and so instead of holding niches whose subject holds passion for me, I will be looking instead for those that promise profit. But it also seems scary for those folks who have written quality posts in those not-so-profitable niches. Which saddens me a little bit, but I understand where you are coming from, and it is impossible to satisfy everyone all of the time.

... and this will ruin this platform.  Not that I can blame you. Narrative is guaranteeing that others make this same choice.  They are putting the financial aspect ahead of content.  If there's no content, there is no NRVE.

I'm going to keep posting my pictures for now.  I have an auction ending in a few minutes and I may just pass on it.  I'm not confident that this platform can be a break even endevour for anyone. 

Given the way people are desperately looking for an open platform that could generate even a passive revenue it's a shame.  To me it seems like Narrative was released to soon.

As to @Brian Lenz... I don't think I ever said, bait-and-switch and one or both of us is confused as to what the other is talking about.  That's neither here nor there though at this point. 

For clarity, what I said was the Niche rental was a cash grab. And it is.  

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