BlockTalks x GameFi AMA Transcript!
We recently hosted an AMA with GameFi, on August 13th at 2 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Lexia Nguyen, COO of GameFi. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce GameFi to our community in layman’s term?
Ans — GameFi is an all-encompassing hub for game finance, serving game studios, players, traders, and investors in one place.
GameFi will bring the gaming community the promising blockchain game initiatives developed on the BSC and Polygon networks, which host most of the top-rated play-to-earn titles.
The GameFi Ecosystem includes 5 pillars: Yield Guilds, Launchpad, Aggregator, Marketplace, and Accelerator, which I’ll be happy to share details with you in this AMA.
Q2. What are the advantages of GameFi to other alternatives in the Blockchain field?
Ans — As some of you may know, blockchain play-to-earn gaming is now emerging as a phenomenon. However, the whole blockchain-based in-game economy is still in its infancy.
1. There is no dedicated launchpad for blockchain games that allows those interested to gain early access to qualifying games.
2. There is no game hub to explore standout blockchain game projects or valuable in-game items.
3. There is no central repository where players can easily track their earnings and manage their in-game items.
4. There is no platform provides comprehensive game finance tools, including trading, funding, and scholarship opportunities.
5. There is no model enables owners of game items to maximize the value of their possessions when they are not actively playing the game.
Besides, concerning game studios willing to adopt blockchain, many lack the necessary technical expertise and an effective platform for reaching out to game players or token holders.
Q3. What are the major milestones GameFi achieved so far & what are in the future pipeline?
Ans — That’s why we created GameFi to work out these existing challenges.
And the fact that GameFi can solve all the above 5 challenges in just one platform is our biggest advantage.
Let’s take a look at this picture to know more about GameFi’s roadmap
In this Q3, GameFi will conduct IDO on 3 launchpads: Red Kite, DAO Maker, and also on GameFi itself. Along with that, the GameFi Launchpad will also be released for conducting the first IGO (Initial Game Offering).
Questions Asked on Twitter For GameFi Team!
Q1. GameFi is a Play-to-earn gaming platform rewarding players for participation "the more you play the more you earn". So as a non-game user, is this Platform recommended only for gamers? Or there are also possible ways I can still earn here even without playing your games?
Ans — At GameFi, we also cares for those interested in profitable investments and looking for passive income streams other than enjoying the gameplay only.
"Earning-without-playing" is one of GameFi’s greatest assets.
You can gain early access to high-profile game projects' tokens or game items, lend your game items to other players to earn, stake your tokens on other players' game items to earn, join yield guilds to earn passively, and so on.
Q2. I believes in math more than blockchain. The crypto market is in a downturn and this creates uncertainty for users, which makes them invest less and less in new projects. So, can you explain the reasons why user should participate and invest in the development of GameFi?
Ans — GameFi’s goal and mission are to become an all-encompassing hub that serves the entire blockchain gaming industry. Therefore, we will provide an open, diverse ecosystem that benefit for game studios, gamers, traders, and investors.
1. For game studios
- Eased holder and player relations,
- Player-centric development funding,
- Rapid exposure for game and its items.
2. For investors & traders
- Eased onboarding of scholars,
- First access to major games' tokens,
- Better liquidity for game assets.
3. For gamers
- No-cost access to play-to-earn games as a scholar,
- Quick and easy access and tracking of all games,
- Liquid market for all game items.
Q3. Tell us a little about the role of $GAFI tokens within the entire ecosystem. Will it act as a simple payment currency on all your products? Or will its holders have some sort of benefit or vote in the project decisions?
Ans — Let’s see what the $GAFI utilities are and you’ll get your answers
1. Stake to get tiers to participate in token sales and NFT sales
2. Stake to get better benefit at farming and NFT renting
3. Stake to get discounted marketplace fees
4. Buy advertising slots on marketplace
5. Buy tickets to enter super-rate items' auctions
6. Stake to have access to minigames, game campaigns, and early access to newly released games
7. Stake to DAO governance to earn rewards
Q4. Gaming sector is extremely competitive and many platforms had to work very hard to reach their current user numbers. How will GameFi team compete with the existing gaming platforms and what extra will GameFi offer to get the gamers from the other platforms?
Ans — GameFi is unique that we offer the onestop-shop solutions: aggregator to track earning and find great games, launchpad for games, yield guilds, marketplace, accelerator.
Each pillar of the GameFi ecosystem (Yield Guilds, Launchpad, Aggregator, Marketplace, and Accelerator) has its own core features, innovations, and improvements that benefit our user community. You can refer to this article to know more about how our ecosystem works.
Besides, we are supported by Icetea Labs, Polygon Technology, and DAO Maker, all have supported several games so we have a solid foundation to start with.
Q5. You have a own your Launchpad to hold IDOs, IEOs etc..in the purpose of fundraising to new projects. What kind of projects will you allow to use your launchpad? Will you be responsible for any kind of rug-pulled in projects? Is KYC necessary to partake on your Launchpad IDOs?
Ans — We only accept projects from reputable studios and teams we know personally, as well as from trusted partners.
Then, the projects will undergo a rigorous evaluation process during which we will determine the development team's origin, the long-term viability of tokenomics, the innovation of ideas, the ability to execute, the strength of backers and community, the security and quality mindset, and audit results.
For the KYC, definitely, everyone need to do it to join GameFi ecosystem no matter they're game studios, investors, or gamers.
Questions Asked by our BlockTalks Community Members during live Session to GameFi Team!!
Q1. Community is the most important part of every project. How does GameFi plan to expand the community?
Ans — We have built a strong team of KOLs, ambassadors, and influencers not only in the blockchain community but also in the gaming community with the hope of bringing GameFi closer to everyone, especially the gaming enthusiasts.
Other than the main global Telegram group which only accept English, currently we also have Telegram groups for Korean and Vietnamese.
Tele group (EN): http://t.me/GameFi_OfficialANN
Tele group (VI): https://t.me/GameFiVN
Tele group (KR): https://t.me/GameFi_Korea
We're planning to build other communities of users who speak other languages as well.
Q2. Staking is very important for any project, can i stake your token? Do you have any plan of starting staking programme?
Ans — GameFi will support staking programs, not only staking for yourself to get APR but also staking on others' accounts to receive the play-to-earn rewards together.
Details will be announced soon when the GameFi Yield Guild & Scholarship features are released.
Q3. There are four walls in a room. A project has been built around a group of four?
Ans — For GameFi, it’s 5.
1. Game Aggregator is an ultimate gaming destination that allows gamers to discover and experience trending blockchain games. It also serves as a repository for players' in-game items and NFT assets, as well as a platform to track their play-to-earn yields.
2. GameFi Yield Guilds enables users to earn passive income by participating in various gaming finance vaults. For instance, there will be vaults for Axie Infinity scholarships, Faraland Hero upgrades, or GameFi IGO - where users can stake $GAFI and receive a share of each IGO’s tokens on GameFi.
3. GameFi Launchpad is a game-dedicated launchpad that will be the first launchpad that conducts Initial Game Offerings (IGO) for game projects to get first access to game assets and engage with the gamers in the GameFi community.
4. GameFi Marketplace will evolve into a one-stop shop for all in-game items and assets following the integration of DeFi tools. Sellers and buyers can even carry cross-game NFT transactions via an exclusive exchange mechanism.
5. GameFi Accelerator for blockchain games provides pre-built templates and tools to assist traditional game studios in implementing blockchain components and facilitating play-to-earn gameplay mechanisms.
Q4. Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, can you share some of the partnerships you have formed with existing blockchain foundations recently?
Ans — One of our recent partner is Polygon Network. We collaborates closely with them to support game studios developing their projects on the Polygon Network, taking advantage of the network’s scalability, low transaction fees, and multi-chain ecosystem.
Besides, wth support from game incubator Icetea Labs and DAO Maker, many major games are waiting to land on the GameFi launchpad in the coming months.
Q5. For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough funds for it’s developement? Can you tell us how your project generates profit?
Please refer to our business model in the picture above.