Economy Team Update

[Hiebe 2493]

 

Economy Team Update

 

Short/small update. Harold as you might have seen left the GM team and his role as Economy Head. I was motivated enough and selected to replace him and follow through with his ideas as well as his plans that were established under his leadership. I want to try and do these posts every month to keep players in the loop of how well we are doing, as well as get your thoughts on how you think everything is doing.

 

The data below is from a bit of polling in regards to the economy, I just picked out a few bits of information to showcase to you might find interesting while we work to improve the Economy

 

Minas in the Economy

Below is data showcasing time played on the server and how many minas are in circulation. The Data was collected from all personas with over 30 minutes of play time.

 

Data from 5-12-17

 

-Total Mina in circulation

4,691,219

 

-Total hours spent ingame server wide on Axios

25,689,221

 

Data From 5-21-17

 

-Total Mina in circulation

4,677,530

 

-Total hours spent ingame server wide on Axios

26,524,760

 

Data from 6-4-17

 

-Total Mina in circulation

4,679,814

 

-Total hours spent ingame server wide on Axios

27,873,377

 

Admin Buy Store (Money Creation)

The Admin Buy Stores buy resources from players for mina, both providing the player with Minas to spend (good) and also removing resources from circulating in the economy (which fosters trade as demand increases). This data is polled from the opening of the Admin Stores.

 

Admin Buy Shops (money creator) 5-12-17

 

-Total Items Bought

9,592,935

 

-Total Minas Created

3,416,847

 

Admin Buy Shops (money creator) 6-4-17

 

-Total Items Bought

13,053,582

 

-Total Minas Created

4,119,909

 

 

Rare Item Sales

We introduced rare items to be sold into the economy, while we have plans to expand this they were intended to draw a lot of minas out of the economy and provide a goal for those who are saving money.

 

Admin Sell Shops (gold sinks) as of 6-4-17

 

Diamond Armor

-Total 775,000 mina was taken out of the economy.

 

Animal Crates (Spawn Eggs)

-Total 18,650 mina was taken out of the economy.

 

Interesting Data

 

-Average mina amount per player is about 2.8k.

-Most bought item is logs 8,991,977, next is nether warts at 1,821,590.

-We spend too much time on here.

-Every three weeks there is about 100-150 new personas added to the data sheets.

-No one bought a single elytra.

 

Official Changes:

Elytra prices dropped from 50k to 15k

Iron buy price raised from 3m to 5m

Lockpick shop added to spawn (hidden of course) 50m each

Mina voting will be brought back yay!

Mob drops will be buffed

There is now a min price on LC. It is 2500 which is a 50x50 block. LC is still 1 mina per block this is just a bottom price.

 

 

Economy Team wants to hear your thoughts, give us ideas of gold sinks, changes you think can be done, items to be added to buy/sell admin shops, or anything crazy you’d like to been seen economy wise.

 

 

Also, rep please

[Archipelego 2188]

hey thats pretty good

[Jonificus 2741]

Who wants to be an LotC millionaire hosted by Mithius Dalma, tonight at 8 on OrenTV.

[shortchangehero 4217]

add back that **** where to sell **** it   was out of the way and on the roads where bandits can shaft  you

[Chorale__ 2147]

17 minutes ago, Hiebe said:

Mina voting will be brought back yay!

Estimated time on this? Super excited.

[Hiebe 2493]

2 minutes ago, Chorale_ said:

Estimated time on this? Super excited.

0

 

Soon....tm

[Chorale__ 2147]

7 minutes ago, Hiebe said:

Soon....tm

0

 

1

Grr, within the next week, a month? !!!

[Aphromo 12]

The influx of mina in the server is not as much as I thought it would. With the admin shop one would expect mina to become inflated by a large margin but that's not the case.  More items for players to sell, and some of the prices buffed would be something to take in consideration. 

[MrMineLoveDude 299]

Useful update.

[Rammer 388]

40 minutes ago, Hiebe said:

-Total hours spent ingame server wide on Axios

25,689,221

[6xdestroyer 1610]

43 minutes ago, Hiebe said:

 

 

Official Changes:

Elytra prices dropped from 50k to 15k

 

1

 

 

[SaviourMeme 968]

Nice

 

[SodaiKamikaze 652]

Shulker shells???

[Sky 0]

1 hour ago, Hiebe said:

 

-Total hours spent ingame server wide on Axios

27,873,377

 

 

@Hiebe That has to be wrong, because if it's true then 3190 years equivelently??? 

[Hiebe 2493]

1 minute ago, Sky said:

 

@Hiebe That has to be wrong, because if it's true then 3190 years equivelently??? 

0

 

Total playing time of all players it's true.

 

 

40 minutes ago, 6xdestroyer said:

 

0

 

No one bought a single one