Apologies for lack of update, here is the update as promised!
The Donations size received so far are minor (mainly under $80 each) but generous regardless of the size.
**********************
Feb 9 2014 BitLand Update:
Programmer:Unfortunately BitLand's main programmer left the project and moved to another project that won't be named, taking critical core development code along with him. This is a major set back for BitLand but since the idea and vision doesn't belong to the programmer, it is not the end but a delay. Due to this setback, refunds are being offered from the total of 1.9BTC raised so far from the donations (minus Bitcoin network transaction fee if any), although this will be at a loss for BitLand, but as a gesture of goodwill it is being offered. After this period, refunds from donations won't be offered even if the project doesn't materialize in the future. Hopefully once project launched, BitLand will find a way to provide early donors an advantage over any funding model/IPO launched in the future.
Good news & Funding Models:The BitLand idea is still alive, and even more ambitious than ever before. Due to this, BitLand requires a more robust and larger scale funding model.
Currently the following funding models are being explored. A Marketing campaign will also follow any funding method selected. The Aim is to raise an approx $3-$5 Million to make the project happen, with full development teams working on it.
1. A Bitshares style funding model, Bitland releases 2 different (or 1 type) of Crypto-Shares which people can buy. The holders of these shares will own a a stake in BitLand Deeds.
2. An IPO where Public is invited to donate into the project, BitLand deeds will be distributed to donators (Similar to the initial plan, but in a much much larger scale)
3. Raise Funds in a closed funding invite-only ceremony. The Plan is to approach Angel investors and large corporations (ELECTRONIC ARTS is one potential interest for funding), without compromising decentralization of course.
The reason the Funding requirement is higher now, is because BitLand is going to go on a larger scale. We realized a small BitLand is not enough, especially with large competitors arising like Ethereum & BitShares (Although BitLand is very different and unique and not really a direct competitor). BitLand main focus is Mobile Platforms, this is something everyone you know will be using to own their own digital assets and income generating.
When? Due to delay as mentioned earlier, BitLand target launch is Q4 2014 (around the same time Ethereum Launches)
Hopefully once project launched, BitLand will find a way to provide early donors an advantage over any funding model/IPO launched in the future.
******************
It would be great to hear opinions of the BitLand community
