BlockTalks x My DeFi Pet AMA Transcript!
We recently hosted an AMA with My DeFi Pet, on August 7th at 10 AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by John Huy, CBO of My DeFi Pet. 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 My DeFi Pet to our community in layman’s term?
Ans — Brief introduction about My DeFi Pet, the name of the project speaks for itself.
-“My” - pet personalization, a feature that will be rolled out in the future to personalize your pet based on your real life activities.
-“DeFi” - the game’s core features include Play2Earn and DeFi that will be integrated into the in-game content. It would change the way people play video games. Instead of pay to win, My DeFi Pet allows users to “Invest to Play to Earn”.
-“Pet” - each pet in the game is an NFT that can be traded, staked, borrowed, or lent.
Q2. What are the advantages of My DeFi Pet to other alternatives in the Blockchain field?
Ans — As there are many blockchain games out there, here are some advantages of My DeFi Pet.
The game My DeFi Pet is designed to have 3D rendering for the good looking pets and surroundings that attract not only blockchain users but also gamers themselves. My DeFi Pet is not a game just for buying, breeding, and trading pets, but it is a blockchain game that would have many upcoming in-depth in-game contents with Play2Earn features integrated. On the blockchain side, My DeFi Pet is built on BSC and KardiaChain which have extremely low transaction costs allowing users to have a smooth experience enjoying the game with blockchain transactions.
Q3. What are the major milestones My DeFi Pet achieved so far & what are in the future pipeline?
Ans — Any plan for Binance listing?
Any plans for listing are totally confidential. We would make announcement for any listings that we have.
Regarding the major milestones, here are the ones that we achieve in the past 2 months.
We are thrilled to show you what we have accomplished in the past two months.
-We are in the top 10 projects in the MVBII Program.
- We got listed in Kucoin, MXC, Gate and many exchanges.
- We have 25,000+ CCU with retention rate of more than 40%
-We became The Top 1 BSC Game by User in Coingecko and Coinmarketcap.
-We are recognized as the First Big Game on Binance Smart Chain by DappRadar.
-We have close to 2 million eggs purchased, 500,000+ pets evolved, 150,000+ token holders, and 3,000,000+ transactions. All these amazing numbers are from Binance Smart Chain.
Questions Asked on Twitter For My DeFi Pet Team!
Q1. Could the skills of Pet be available before the NFT marketplace opens for trading to ensure that the choosing of pets to be bought/sold will be good?
Ans — We will have NFT marketplace ready first as skills will need more time to be balanced out for PVP mode. There will be announcement before the marketplace goes live to show which pets are good so the prices will be set accordingly.
So users know exactly what pets they are getting at what values.
Q2. What is MyDeFiPet revenue model? In which ways do you generate revenue/profit?So many projects just like to speak about the "long term vision and mission" but what are your short terms objectives? What are you focusing right now?
Ans — There are 2 folds for this question.
The first one is about the revenue model. The current revenue model of My DeFi Pet is from selling eggs, breeding pets, and evolving pets. Upcoming revenue will come from the marketplace, siring, lending pets that will be released soon in this Quarter. We will have more when we release the Play2Earn features in Q4.
The second part of the question is about the short term objectives.
We are currently working on the Season 1 - Boss Fight event that will be the first revenue share event from My DeFi Pet. We also have the Marketplace in the pipeline coming out next. And of course the Play2Earn features will be ready by early Q4 so players can start earning when playing.
Q3. You mentioned that, the DPET token has run in a KRC20 and BEP20 token. My question is Can you tell the difference in benefits delivering to users between KardiaChain and Binance Smart Chain?
Ans — When we started the game, we explored many options for the blockchain that we will integrate on. We pick KardiaChain and Binance Smart Chain for several reasons.
- BEP20: it has low fee, fast settlement time, growing community and great ecosystem that are supported by Binance.
- KRC20: the transaction fee is nearly zero, fast settlement time 5s. KardiaChain will release the Dual Node technology that will allow crosschain communication. The Dual Node would help bringing users from both chains together.
Q4. Did you have any ideas about connecting My Defi Pet to real life? Such as: with some transactions have been completed in your game, a part of the revenue/profit will be shared with the animal rescue fund. If possible, please share with the community.
Ans — We are currently in talk with some non-profit organizations to help the communities in need. We are from KardiaChain and we have the tradition to help people in need. Last year, we donated funds to help people in need during the flood in Central Vietnam. We would do the same on behalf of My DeFi Pet every year.
Q5. Could you tell us about audit services applying into the project?
Ans — My DeFi Pet received 100% passing score from Solidity Finance. We are also working with 2 other auditing firms to ensure the security of the project. The results will be announced soon.
Questions Asked by our BlockTalks Community Members during live Session to My DeFi Pet Team!!
Q1. Is My Defi Pet a global project? Is there a plan to reach the Korean, European and African communities? will you run multiple language lines for people who are not native english?
Ans — Yes we have plans to reach to many local markets by localization. We have marketing agencies and Venture Capitalists to help us pushing the media and news in the local market to attract more users.
Q2. If I get a monster, it will become $DPET. Would that monster be intrinsically worthless if with half a million other players caught the same monster and also turned it into $DPET? or is each monster captured unique and has its own value?
Ans — Each pet in My DeFi Pet world is unique and different. A pet is able to have up to 8 body parts. Unlike other games, your pet can have from 1 to 8 body parts. Pets that have 7-8 parts will be most valuable due to its high stats and special skills. Depending on the quality of your pet, it will have a good value attached to it.
Q3. The play2earn model is quite new & many blockchain based NFTs gaming project are already implementing this model. What’s your strategy to enhance the experience and global adoption of play2earn blockchain game models? What makes gaming on My DeFi Pet fun and profitable for users?
Ans — Our team structure is a bit different than other blockchain game companies such that we collaborate with a gaming studio to develop My DeFi Pet. The game studio TopeBox has extensive experience in game development. They know exactly how to make the game fun and addicting. For our part, we integrate the blockchain and Play2Earn feature that would make the game fun and rewarding for playing.
Q4. I read on your blog that they will start a contest to select the Kings and Queens of the Game, in which they will look for a representative for each locality, but do they have to be natives of the indicated countries? Or really if I am Latino can I compete to be King in the town of Spain?
Ans — Of course, you could participate. However, in order to win, you would need many supporters and votes to help you win the contest.
Q5. What is your strategy to improve the experience of the play2earn and blockchain gaming model? And can the $DPET token be used for staking plans?
Ans — The play2earn blockchain model for My DeFi Pet will be different than other games. Of course pet holders and token holders would receive many benefits, including high APR for staking. Stay tuned for upcoming Play2Earn features