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Decision Log

OVERVIEW | DERIVED | Updated 2026-04-08 | Owner: Leadership

Major product decisions with date, who decided, why, and what changed. Not every decision — the ones that shape product direction.

April 2026

April 7, 2026 — Revenue Pacing Meeting

Participants: Roham (CEO), Nick Darabi (VP Finance), Matt Schorr (EP Collectibles), Spencer Bogad, Eric Lin (VP Engineering)

# Decision Who Decided Why Impact
1 TST to Atlas immediately — first NBA production feature on new platform Eric + Matt Quest already on Atlas without issues. Jim's WYSIWYG campaign editor enables AI-driven experimentation. Accelerates Atlas migration. Proves the platform with a real revenue feature.
2 Rakuten integration approved — April 17 dark launch Disney product team (DRI) Fully approved by legal (Naeem). Target: $10M/year thesis for third-party Asia distribution. Opens Japan market. May 4th (Star Wars) = first high-volume test.
3 WNBA partnership + Caitlin Clark Dutch auction Matt + Eric All top player choices secured. Clark auction starts at $1M (declining through season). Highest Caitlin Clark sale = $660K Panini one-of-one. New revenue stream. Requires Dutch auction tech build + RSVP pre-auth improvements.
4 NFL backup plan — team-moments-only without player NIL Spencer + Matt 80% chance of NFLPA resolution before season, but need contingency. May 1 = blackout date for player imagery. Targets $2M revenue without player rights.
5 April Deposit Match — 7-day, $50 minimum, April 14 launch Spencer (DRI) Reverted to February's successful 7-day format. Lowered threshold from $100 to $50 for broader participation. Automated tailored emails by collector journey. Launches day before Top Shot This event, runs through NFL Draft timing.
6 Trading as primary Disney growth lever Roham + Matt Trading correlates with 218x spend at 50+ trades. Lower segments: 10-15% trade vs 85-90% in top segments. Getting lower segments to trade = potential 5x growth. Genesis Keys + trading = "rocket fuel." Monthly trading events minimum starting May 4th.
7 Revenue = experiments, not hope Roham (directive) Q1 revenue landed $5.1M. "Stop framing features as hope. Start framing them as experiments with measurable outcomes." Every feature gets: hypothesis, success criteria, kill criteria, measurement plan.

Q1 2026 Revenue Context

Product Q1 Actual Q2 Outlook
Total Portfolio $5.1M (vs $5.3M budget) Flat to down
NBA Slightly above Q1 Playoffs may lift
NFL TBD Could be zero (NFLPA blackout risk May 1)
Disney Below $1.6M target 90% of Dec users lost. Down to 230-240 active buyers.

Key Strategic Decisions (Historical)

2025-26 Season

Date Decision Impact
2025 Monthly tent-pole drops replace weekly cadence 2.3x revenue per drop, 131% more returning buyer revenue (F017)
2025 Positive EV pricing adopted 4x W0 conversion improvement — 2.9% → 12.3%, sustained 10 months (F011)
2025 Legendary cap at 75/season Supply discipline. Combined with monthly cadence, reversed oversupply damage from 2021-23.
2025 Buyback program deployed 70.1% of Q2 2025 gross consumed by buybacks. Metrics distortion identified (F019).

Partnership Decisions

Date Decision Status
Mar 2026 NFLPA opt-out exercised Contract renegotiation in progress. Terms confidential.
Mar 2026 Disney MG restructuring under discussion MG restructuring under discussion. D23 planning in progress.
Feb 2026 CEX market making deal signed Active on centralized exchanges.
Mar 2026 x402 agent payments shipped Agents can pay through Flow. Production.

Infrastructure Decisions

Date Decision Impact
Mar 2026 Atlas platform migration Next-gen infrastructure. Quest = first production feature. TST migrating.
Mar 2026 Riptide 4-week milestone plan AI agents on Flow. M1-M3 targeting April 18 completion.
2026 Wallet team cut for FCM Trade-off: FCM protocol development > Cadence wallet. Products moving to Ethereum login.

How Decisions Get Made

  1. Data first. The 22 validated findings (see Data Science Insights) ground every product decision in evidence.
  2. Named DRI. Every decision has a single owner (Directly Responsible Individual).
  3. Pre-committed kill criteria. Bold Bets and experiments define what "stop" looks like before they start.
  4. Revenue = experiments. Every feature framed as: hypothesis → measurement → evaluation → verdict.

Updating This Log

Major decisions should be added here with: date, decision, who decided, why, and impact. If you participated in a decision that shaped product direction, add it.