On the evening of April 5th, 2022, Mr. Hagi Vo — CEO of the BAoE, and Ms. Mei Lin — CMO of the BAoE project had an Ask Me Anything Global session live on Facebook. The AMA was extremely successful thanks to the response from the community. In this AMA, both Mr. Hagi Vo and Ms. Mei Lin shared truthfully information on the current market situation, the project’s progress, and BAoE’s future plans.
SUMMARY OF AMAs’ bright spots
In case everyone missed last night’s AMA, we decided to write this compilation to update the situation for those who missed it.
Part 1: Mr. Hagi Vo and Ms. Mei Lin shared about the current marketing situation
Part 2: Mr. Hagi Vo and Ms. Mei Lin shared about the update of BAoE
Part 3: Answer community questions
Let’s go into the details of the AMA.
Part 1: Mr. Hagi Vo and Ms. Mei Lin shared about the current marketing situation
Current situation of GameFi Project: GameFi projects seem to no longer hold the same position as before and this trend seems to be showing signals of going down. The money investment from users did not flow into this area as strong as in 2021. GameFi is experiencing one of the most challenging periods. And these challenges are existed due to the 2 reasons:
- First, the gameplay of the NFT Game did not meet the expectation of users. Most of the GameFi users now are not joined for the “click to earn”, but they are demanding and looking for updated gameplay. Moreover, we can see that most of the games in the current GameFi market just only show a roadmap, but have not really been implemented. That’s the reason why many projects have been eliminated due to the aggressive market. Developers seem to focus on the way that investors can earn more than what they can experience when playing the game. Therefore, the confidence and the trust of players and investors in GameFi projects have decreased and they have higher and higher requirements for the above criteria.
- Secondly, platforms aren’t so easy for new beginners to use to play, and the steps required to get started with many GameFi platforms are still too cumbersome.
- Last but not least, most of the GameFi projects are stuck with a problem named “token inflation”. And if the developers still can not find a way to solve this problem, the game will still be a “Ponzi” model. And no game can last long because there is no user want to invest to lose their money.
Solutions for GameFi Project:
- In the first place, reaching out to more people is the greatest method to draw them in. People that require GameFi may join the revolution by participating in outreach activities.
- GameFi fans need to be trained and funded to play games and make money. Companies’ willingness to spend on outreach and education aided the mainstream crypto industry. Similarly, GameFi platforms should engage in activities that directly benefit users. GameFi already has one advantage over crypto — people want to play games.
- The GameFi sector might also learn from the mainstream crypto market by building for users. The processes necessary to get started with many GameFi platforms are still too complicated. So players who want simplicity will probably not want to play these games. Developers do need to focus on making their platform easier to use, and they will attract the proper fans to their project.
Expectations about the future of the GameFi Industry
GameFi is believed not a short-term trend. It will keep moving forward due to the following reasons.
- First, it’s about the “Big acquisition”. The traditional gaming space saw a surge in significant studio acquisitions in January, with Microsoft’s $69 billion takeovers of Activision Blizzard grabbing headlines recently. That acquisition, effectively the largest in gaming history, followed Take-$13 Two’s billion purchase of US-based social game developer Zynga. The January acquisition spree has fueled speculation about a Metaverse race among top gaming companies, with Meta playing a particularly active role in the VR takeovers.
- In addition, we also saw a significant investment in this area last year, which showed the long-term potential of GameFi. According to the report, the platform, which has historically focused on sports and gaming, recently launched a $2 billion fund to invest in GameFi startups. Following this trend, a lot of venture capital companies like BITKRAFT and Galaxy each announced over $400 million in new investment funds focused on the game-related industry. Increased finance underscores the common expectation of the sector’s potential exponential expansion.
- Moreover, the quantity of blockchain-based gaming decentralized applications (dApps) gets bigger and bigger. That number is expected to treble in 2021 alone, bringing additional innovation, money, and enthusiasm to the field. Taken together, these tendencies point to a rapidly developing and upward-trending environment. I hope that the statistic that I have just provided is enough to prove the potential of GameFi in the next years.
NFTs are poised to become GameFi’s economic lifeblood. Between in-game purchases and the one-of-a-kind digital ownership rights provided by NFTs, an irreversible relationship exists between these two booming industries that are bound to strengthen. The expansion of metaverse startups and finance has resulted in the formation of a tripartite connection, with one section strengthening the others. Metaverse games make use of virtual reality and augmented reality to build immersive 3D environments in which players may buy/sell NFTs and earn cryptocurrency. NFTs and Metaverse are asserting their position step by step in blockchain in particular and also real life in general. A lot of people know about VR/AR and Metaverse and just imagine when Gamefi, NFT, and Metaverse can be merged into one.
Part 2: Mr. Hagi Vo and Ms. Mei Lin shared about the update of BAoE
BAoE Self-Control Champion League
The tournament has attracted the attention and support from a large number of members in BAoE communities, the regional rankings are still regularly updated by the team for the communities. Some players can earn nearly 50 BAoE tokens every day with an Ultra Rare Cyborg, these players really own an amazing skill. And with the success of the tournament till now, the BAoE team received several positive feedback and I hope that players will love this game mode when we start launching this month.
About the vision of our project. As stated right from the beginning state, our project has long-term goals to develop. Regarding plans, the team intends to recruit more human resources, and many professional developers in GameFi and Blockchain have joined our project. We will also keep investing more in marketing to attract a new community of players. Everyone accompanying the project needs to agree on one thing: A game is still a game. If you want the project to be developed for a long time, it should be balanced between players and investors, because if the game is just a “Play to earn” mechanism, almost 100% of the game projects will not last long.
About the mainnet version
All of BAoE’s products have been completed, both for the new website and the new character designs. Now, we are just waiting for the right time to put everything on the mainnet version right away.
In the past time, the project has tried many times to adjust the token price but has not worked due to a large number of bots and traders. After consulting with experts, with BAoE, it is still difficult to subsidize to push the chart. In addition, BAoE’s original smart contract lacked some features and was incomplete. The team has also thought and wondered a lot about changing the smart contract because it is very laborious and affects the project if it does not receive the consent of the community. After a month of thinking, and trying to handle traders entering the trade, the team can’t control the price with the current smart contract no matter how good the game is. And we have just decided to redeploy the smart contract, or to put it more simply, switch to token ver 2.0. This helps to ensure that the game’s tokens work well under the control of the team. If any actions affect the price, investors, or the community, the team can control and handle those issues. This is a difficult decision because building new gameplay, a new smart contract means that we almost re-listing and started from scratch. So the amount of work is quite large, equivalent to redoing a new project. However, for the benefit of the community and the future of the project, the team is still willing to embark on this decision. I still feel it is worth spending the budget to run marketing again.
About marketing strategies
After exchanging tokens, the product will definitely improve, and the community will also be more active. However, the team needs a little more time to complete the upcoming work. For the community of players who have been with the project since the early days not to suffer, the team will certainly have policies to thank the long-standing community. But, there is a problem in the marketing process to attract new players, if you let new players live in the same community as long-time players, you will be worried because there will be some differences in the preferential policy between old and new players. So the team decided to build a community for new players, and launch new products and lists. In the meantime that will create a new boom for the project. At the same time, the team will calculate how to quickly and accurately convert the tokens the community is holding to ver 2.0 tokens. The Marketing team will have a detailed announcement on this issue for the community to better understand and accept this change.
Self-Control Tournament
From round 2 we will ask players to live stream, to increase the interestingness of the tournament. All winners from round 1 will be randomly divided into groups of 4 players. Then they will compete and we will gradually eliminate those players leaving 8 winners remaining in the finals. In the final round, we will continue to divide the groups and choose the 4 best people to compete for the first, second, and third prizes. One thing is you have to try hard because the reward for top players is not a small amount, it may be several thousand dollars. Our team will make an official announcement about the rules and award structure soon. And about the ticket, we have mentioned it before, those who bought the ticket will have many advantages such as
- 01 Whitelist Slots to buy NFT Box v2.0
- 01 Special Cyborg Version from the event when player get to round 2 (Passed Round 1)
- Gift code up to 50% discount when buying NFT Box v2.0 for players who reach round 3 (Passed Round 2)
And all tokens obtained from the ticket sales will be burned. What is the purpose, I think everyone understands
Playing game on IOS device
In the past time, the team has also listened and collected some very good contributions from the community. The team is currently working on the IOS version of the gameplay, but Apple’s policy does not allow apps containing cryptocurrency to make payments. If you want to do it on the IOS platform, you have to go through Testfllight, so if the Testnet version is also uploaded to Testfllight, then updating the Mainnet on it will be quite cumbersome. Therefore, the team decided to prioritize the Mainnet version. The issues of Self-control taking time, have been considered and handled by the team, and Autoplay and Quickplay modes have also been integrated.
Smart Contract V1 Handle
When we change the smart contract, we will open a pool for everyone who is still holding the V1 token to deposit into. Then the dev team will follow the data and return the v2 token to the holder’s wallet address according to the amount everyone has deposited into our pool.
Version 2 token listing price
The team will offer an appropriate conversion rate to ensure the interests of investors so that the total amount of tokens everyone is holding does not change. There will be special offers for longtime players, in the new version, new players will have to do tasks to get the whitelist slot to buy NFT ver 2.0 but old players don’t need to do the task, will be converted. NFT ver 1.0 to new NFT ver 2.0 and more special offers.
Burn mechanism
- First, about the burn token plan, all types of taxes and fees paid by BAoE tokens will be burned, directly reducing the total supply
- We see that the postponement of vesting really brings great benefits to the community. The current situation is that a lot of traders are trying to release tokens, which only leads you to a disadvantage. The chart will not be able to increase, instead, we have also opened staking during this time to help you still be able to invest in the long term.
- The next vesting schedule has not been announced yet, the marketing team will update the information about it on our social channel later.
Security
- As part of our commitment to provide an excellent game experience and also a high-quality game, we have security professionals on our staff that help us achieve this aim. In addition, we have Verichains — as one of BAoE Partners — to do an audit of the overall system.
- Although no system is totally hacker-proof, we will do everything in our ability to keep the system secure since we recognize that security is a significant factor of the Blockchain.
Aims to finishing upgrade the game to the V2 version
The team has started working on v3, now working on more engaging gameplay mechanics. It is the initial desire of the team, to build an ecosystem in which games can be linked together, and token value and NFT are mutually resonant. However, there are some problems that the team really does not have a solution to deal with at the moment, for example, is the problem of “general token inflation” because each game must have a reward pool, and data management problems also need to be handled carefully to build an ecosystem. However, building an ecosystem is already in our plan, and as you know when we said we would do something, we always strive for achieving our goal.
Part 3: Answer community questions
Question 1: At Binance week, the Metaverse trend still attracted many people, so how do you rate Metaverse because as it can be seen in the roadmap that the goal of BAoE is also developing to the Metaverse version in 2023?
Many experts considered the metaverse as an exciting and powerfully upgraded version of the Internet — promising to bring many expectations in the future with more wonderful experiences for people’s lives. From creating Branding, advertising, entertainment, public service, or mass media, the era of Metaverse will unleash humanity’s creativity in ways never before seen in history.
The whole world is paying attention to the Metaverse and it could be the next stage of the evolution of global interaction. If the Internet changes the social environment, so will the Metaverse.
Metaverse is what all GameFi projects are aiming for, to do so we need great support from the community. We always want to open a virtual world to not only our project but also together with other projects to create an open and diverse game world.
Question 2: Is the current market situation affecting the game development and estimated roadmap of the game or is only affected by game development itself?
Currently, the GameFi market is facing many more challenging than before, players are more demanding about the quality of the game including gameplay and game visuals. Users’ experience is nơ more focused than ever. Users do not only want to earn but they also want to really experience the interesting gameplay. Besides the trend of VR/AR is also being recognized widely by the community. BAoE will continue to develop according to what has been set out, and at the same time, we are spending a lot of time on developing the game using VR/AR technology. And I hope that when we achieve this goal, our game will receive interest from the users.
Question 3: Can you create a mode in BAoE where players can bet a certain amount of tokens and compete to win it all, for about 10 players?
Currently, if users take a look at our roadmap, you can see that in PVP mode, we also set the betting function so that players can negotiate with each other and bet an equal amount of tokens. We believe that it will increase the interesting points of the game. But we are just thinking about 2 players betting with each other only. The idea of letting 10 players bet and compete to win all the rewards is good and we will consider developing a new game mode that has this function.
Above is a summary of the main points of the AMA session on April 5th, 2022. BAoE is always very grateful for the attention and support that the community gives to the project. The list of players with the most interesting questions was compiled by Mr. Hagi and Ms. Mei Lin and will be updated as soon as possible on the information page of BAoE.
