Feb 2023 Report
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 = $1.25 USD
- 1.Introduction of the new game feature, Treasure Island
- 2.Special event for Valentines Day - Love Island
- 3.Introduction of Block Bucks to assist players with high gas prices on Polygon Network
- 4.Introduction of the Daily Rewards Feature
- 5.More Land Expansions for players
- 6.Ability to purchase SFTs on Niftyswap with debit card
- 7.Removal of Bumpkin analytics from on-chain data to reduce gas fees by $0.10c
- 8.Introduction of the Iron Idol
- 9.Introduction of new foods for Bumpkins
In February 2023, Thought Farm accumulated roughly $ 68,600 USD net revenue. To account for income tax easier, all revenue streams were converted into FIAT on a 2-3 day basis.
The increase in revenue was due to onboarding approximately 4,000 new players, introduction of a number of new features, special events, and favourable market conditions. The project is also starting to reap the benefits of the investment in development time into the Sunflower Isles upgrade from late 2022.
We successfully achieved startup credits for our infrastructure services which cuts down the technical expenses significantly.
- Technical infrastructure + services - $1K USD
- Legal & Accounting - $1K USD
- Salaries - $51K USD
- Jigger - $1K USD
- Contractors - $11.5K USD (PR, Communications, Art Design, Support Team)
Sunflower Land has sufficient capital and runway to fund our future business plans.