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How to sustain an economy of nonfungible resources such as land assets, domain names, or social ranks? What are the optimal parameters with demand-based recurring fees or single land value tax as radical solutions? Can price, tax and rent be FAIR to all 3-body of owner, renter and stakers?
Harmony’s goal is develop economics games that are fully onchain and sustainable for more than 100K users and $100M assets in years. Our focus is building a platform-native marketplace for domain names with .country (Internet Top-Level Domain, TLD, with native Web2 integration), music creator NFT with merchandises, and onchain board games with lands.
Let’s explore Vitalik Buterin’s fee proposal on Ethereum Name Service (ENS), Lars Doucet’s tax proposal on game lands, and Will’s onchain proposal on 18xx board games.
🔥harmony.one/fair
Fair Price, Tax and Rent
We propose the “3-Body Fairness” Problem on Nonfungible (Tokens, NFT)
- OWNER (landlord, host, holder, bearer, master, possessor, proprietor, licensee, mayor, incumbent | developer, capitalist)
- pay price (buy at sales, perform transaction, invest in development)
- pay tax (periodic fees to stakers)
- earn income (utility, revenue, investment value)
- RENTER (tenant, leasee, guest, user, roomer, occupant, lodger, dweller)
- pay rent (periodic fees to owner, gas)
- earn usage (timeslot, depreciable, depletable, degradable, perishable)
- STAKER (voter, citizen, community, DAO, native | settler, local, resident, national, inhabitant, denizen, public, common | followers, likers, investors, speculators)
- pay time (one-time deposit to owner, time-lock assets, risk-free deposit, mine transaction hashes)
- pay locality (born to land, move to neighborhood)
- earn interests (block reward, common resources, governance rights, basic income, social welfare, inflation hedge)
Why poverty accompanies economic and technological progress? Why economies exhibit a tendency toward cyclical boom and bust? Let’s use history and deductive logic to argue for a radical solution – focusing on the capture of economic rent from natural resource and land titles. Henry George’s Progress and Poverty
- Nonfungible tokens: space, time, name, rank, social, rarity.
- Topological games: Contagion, Tickets to Ride, Monopoly.
- PRICE: allocative efficiency (radical markets: encourage sales, discourage hoarding; mechanism design: disclose preference, incentivize transactions) – versus investment efficiency
- RENT (fee, gas): …?
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Research
Everybody works but the vacant lot. I paid $3600 for this lot and will hold 'till I get $6000. The profit is unearned increment made possible by the presence of this community and enterprise of its people. I take the profit without earning it. for the remedy read Henry George.
- Partial Common Ownership (PCO)
- Common Ownership Self-Assessed Tax (COST)
- Self-Assessed Licenses Sold at Auction (SALSA)
The Space brings blockchain technologies, Radical Markets theories, co-creation pixel map, and DAO together, to extend their common fundamental ideas: decentralized common sense. The Space | World’s First NFT Pixel Art Game in Radical Markets
By introducing a property market to stimulate profit-driven behaviors, Harberger Tax to ensure efficient pixel trading, UBI to redistribute capital, and SpaceDAO to encourage democracy, we designed the creation dynamics in The Space to be self-sustainable and able to be revived again and again to endure the erosion of time.
SpaceDAO determines a series of economic parameters such as the Harberger Tax rate, UBI ratio, or the canvas size, as well as the use of the Community Fund.
… the essay Property Is Only Another Name for Monopoly. Harberger Tax is designed to efficiently distribute public resources. It adopts market principles with partial common ownership so that the market can be both fair and efficient. In a market ruled by Harberger Tax, the ownership of assets is fluid and stays longer in the hands of holders who can better utilize it to generate value.
- People can set any price for their own assets, as well as pay the property tax proportional to the set price.
- Anyone can buy an asset from the owner at any time (without consensus), as long as the bid price is higher than the set price.
The temporary owners of the asset need to actively set the price of the asset by considering the asset’s capacity for tax-paying and value-creating. They need to set a higher price for the asset and thus pay the higher cost if they hope to hold the asset for longer and lower the risk of it being bought by other participants in the market.
During a test launch in March, fifty Taiwanese artists co-created on The Space and their final artwork was minted as NFT on akaSwap.
Artist royalties, decentralized network assets, and other bottom-up community creations don’t require taxes but might benefit from the Harberger-style mechanism to manage scarcity and better reward value creation. These things aren’t evil or coercive and can fly under the banner of SALSA (Self-Assessed Licenses Sold at Auction), plural ownership, depreciating licenses, etc.
“When the Great Way prevails, the World belongs to everyone (大道之行也，天下为公).” from "The Space is the World's First Large-Scale NFT Pixel Art Game Governed by Radical Markets
Real Economy
… committed to reducing and replacing taxes on labor and capital. We propose to pay for essential government services by adequate taxation of the value of land and other natural resources. We also propose fees for pollution, resource extraction, and use of the public commons. We believe these changes will increase total wealth and equality of opportunity.
Industry Leaders
Established one of the world’s leading gTLD registry operators with a leadership team of internet visionaries. Launched 10 new international domain endings, .including .xyz, and managed day-to-day business development, marketing, operations, and sales with 100+ international registrars and resellers. In less than 4 years, over 2 million domains were under management across 180+ registrars in 200+ countries and territories. High-profile registrants included Google (ABC.xyz), MIT (Engine.xyz), and HBO (Hooli.xyz). (Shayan Rostam)
explored more of the game design space and added recurring monetization. On this last point, players would continue to buy new models, pilots and weapons cards. These would come out a couple times a year and enable players to re-shape their armadas. While I think this IRL structure of buying new collectibles to add more gameplay is awesome, and totally in line with what web 2.5 gaming wants to do with its NFTs, monetization…
calendar timeslots? buy a creator nft, specific to a date for a 20-min audio call, speculatable and tradable..
