📅Oct 2022 Report
Last updated
Last updated
We are changing the way crypto gaming operates. We have full transparency with our community around the roadmap for the game and the underlying treasury.We are a proudly Sydney based team. This means we pay Australian taxes and must always liquidate and reserve at least 30% for corporate taxes🇦🇺The following is used for educational purposes only and is no indication for accounting, valuations and/or taxation purposes. The numbers below reflect rough estimates or reflections of on-chain activity and are prone to mistakes
Values are in $USD As of writing, 1 MATIC = $0.90 USD
Launching of Bumpkins project
In October 2022, Thought Farm accumulated roughly $ 28,000 USD net revenue. To account for income tax easier, all revenue streams were converted into FIAT on a 2-3 day basis.
The decline in revenue was due to a decrease in Daily Active Users (DAUs) as the team focusses on the launch of Sunflower Land. Engagement is as projected and revenue is focussed on long term success of the game.
We are expecting negative cash flows until December when the Bumpkin Project and Sunflower Land go live and add to the revenue streams.
We successfully achieved startup credits for our infrastructure services which cuts down the technical expenses significantly.
Technical infrastructure + services - $3.6K USD (Credits applied )
Legal & Accounting - $4.8K USD
Salaries - $52K USD
Jigger - $1K USD
Contractors - $10.5K USD (PR, Communications, Art Design, Support Team)