Exeedme — Telegram QUIZ & AMA — December 28
On Monday, December 28, we had the pleasure to welcome to our Telegram chat:
Nuno Fernandes, CEO.
We asked him questions about the development of Exeedme.
Some sentences have been slightly edited for readability but the meaning has been conserved.
Exeedme is a blockchain-powered tournament platform allowing gamers at all skill-levels, developers, and organizers to monetize their skills.
Exeedme is built on Polkadot as it allows the building of DeFi and NFT innovations in a truly interoperable environment while lowering transaction fees.
Exeedme has enabled KYC to prevent scammers and cheats from using the platform.
Q — Lotfi from GAINS: What did you do before crypto, how did you get into crypto, and did you have any other venture in crypto previous to being involved with Exeedme?
A — Nuno Fernandes from Exeedme.: First of all, I am excited to present Exeedme to such a great community.
I spent over 8 years at 2 of the top 5 European Mergers and Acquisitions teams, KPMG and PwC. I was responsible for advising high-profile clients from tech to real estate on strategic positioning and raising capital from Venture Funds or Private Equity. I was personally involved in 30 successful deals and +€1B closings.
I’ve worked with over 50 like-minded entrepreneurs and “doers” that started businesses from scratch and achieved multi-million dollar valuations. It was a great experience to learn from these bright minds. I found out that a strong belief in their own vision and a “make-it-happen” attitude were the key ingredients to success.
It was in London that I started to get heavily into blockchain and crypto. That’s when I realized that the companies I worked at were not sufficiently agile to adapt for that future.
I decided to work on my own ideas, network in the field, and start my own advisory boutique to share all the knowledge that I collected with early-stage businesses that were looking to grow quickly. A lot of exciting projects just popped up, like Utrust, a powerful blockchain-powered company (and a token success story) where I was a strategy advisor working closely with the executive team.
Despite being a mediocre gamer (oh man, Francisco, my co-founder, is always beating me), I was always fascinated by the idea of having these alternative worlds that would be part of a huge unique digital world — I call it the digital metaverse. Like you cross borders in countries, you could also cross borders in games. That’s what really drew my attention first to blockchain for gaming and a later stage of Polkadot as a potential enabler of that digital metaverse powered by crypto.
Q — Lotfi from GAINS: No better way to build experience than learning from bright minds! Do you have connections with Utrust? This project has been doing great and solving real use cases.
A — Nuno Fernandes from Exeedme: Yes, I have been working with their executive team on many new ways to bring Utrust and crypto to the masses! It’s a wonderful project which I am really proud of having been part of and contributed to the growth they are experiencing.
Q — Lotfi from GAINS: What’s your role at Exeedme and what is the project about in a few simple sentences?
A — Nuno Fernandes from Exeedme: I am Nuno, co-founder and CEO of Exeedme.
My role is ensuring that we have all the ingredients( team, technology, community, partners, and funds) needed to deliver on our vision to revolutionize gaming competition.
Exeedme is a blockchain-powered tournament platform allowing gamers at all skill-levels, developers, and organizers to monetize their skills.
We are in essence a competitive layer on top of centralized and decentralized games that allow players to challenge friends or other players in the games they love the most. Our vision is to build a fair and trusted Play2Earn Polkadot-powered tournament platform allowing them to earn by betting on themselves, earn XED for playing, and exclusive NFTs prizes for ranking progression and achieving milestones: trophies, collectibles, and in-game assets they own and can trade or monetize.
Q — Lotfi from GAINS: What is the token use case? How did you make sure it captures the value of the ecosystem you’re building?
A — Nuno Fernandes from Exeedme: Our $XED token is the centerpiece of our platform. Without it, nothing exists.
We use the $XED token to incentivize and reward gamers, tournament organizers, and game developers for their play and engagement on the platform. The $XED token was designed to ensure that the majority of the rewards generated by the Exeedme platform goes directly back to the people who use it the most.
Key use-cases for $XED includes game mining, staking for access, and governance:
Game mining: Players on Exeedme can earn $XED tokens by challenging friends for stakes, or by challenging others in matchmaking. Regardless of a win or loss, all players participating in matchmaking will earn $XED for their engagement. Staking more $XED and ranking progression will unlock achievements and special trophies represented by Non-Fungible Tokens (NFTs) that are tradable within the platform. Different levels of the rarity of NFTs and an open marketplace on Exeedme for them will enable a thriving NFT economy on Exeedme to emerge.
Access: For gamers, it’s all about leveling up. $XED tokens act as a de facto proxy for platform experience and engagement. The more $XED tokens a player stakes, the higher wagering limits he/she can set in matchmaking. Access to the hottest tournaments with the biggest prizes on Exeedme will also require certain levels of $XED. For tournament organizers, a bigger amount of $XED will be required to open a community, and to act as collateral for prizes. Finally, for game developers, opening bug bounties, betas for testing, and other engagement activities will also require $XED staking.
Governance: $XED stakers will also be able to vote on platform upgrades, events, and other initiatives. This mechanism will ensure that the future of Exeedme will always be co-created with the community and for the community.
Q — Twitter user @NguyenQ32225128: Exeedme is a blockchain-powered tournament platform that is allowing gamers at all skill-levels to monetize their skills. If the winner is the one that receives revenues, how can Exeedme be profitable for beginners?
A — Nuno Fernandes from Exeedme: You don’t earn just by winning, you have two more elements:
1. Earn $XED by playing (doesn’t matter if you win or lose)
2. Earn by progressing: By completing certain milestones (ex: 50 headshots) and progressing on ranking, you will be unlocking exclusive NFTs rewards.
Q — Twitter user @Rahul17567317: Can you share with us the token distribution of $XED? As an investor, what makes me want to buy and hold $XED for the long term? What are the different methods to get $XED tokens?
A — Nuno Fernandes from Exeedme: In terms of trust, our team is public contrary to many projects on the low cap side so we hope that makes us accountable.
The more features we release, the more utility $XED will have on Exeedme. As more people play the more demand will be for $XED. We are launching with a game that has +20million MAU. We have a CS:GO Fox player as an ambassador that is giving directions for the quality of the platform. I guess we are building a good recipe to nail it and bring gamers to Exeedme and consequently, more demand for $XED for the long term. You can also look at our distribution metrics here.
All private investors have a vesting mechanism over 4 and 8 months that makes them align with our vision and give time to the team to deliver.
Q — Twitter user @semogaberkahXD: Why did Exeedme choose to build on the Polkadot ecosystem? What is the advantage of using Polkadot for $XED?
A — Nuno Fernandes from Exeedme: The economy that we are building with Exeedme will reward gamers first, and be built to smash down barriers in the walled-gardens of today’s video game industry. To be truly inclusive, Exeedme’s technology needs to support a wide array of blockchains and online ecosystems for people all over the gaming universe.
Ultimately, buying and moving assets across blockchains will become a necessity as users look for new ways to interact with multiple permissionless networks. DeFi and NFT innovations on Polkadot can move both fungible and unique value assets across blockchains, expanding the possibility for more communities, groups and cultures to get involved. That is why we chose Polkadot to power true interoperability on top of lowering transaction fees.
Q — Telegram user Zé Alves: There will be matchmaking to level the skills between the players. Is the LP you win on each game going to be weighted by the amount bet? If not, people could just bet $1 per game and lose on purpose to lower their skill-level and then bet $1000 against weaker people. Any thoughts on that?
How are you going to cut the damage from cheaters? Is there a way to reward those who lose against cheaters?
A — Nuno Fernandes from Exeedme: 1. For matchmaking, the bets that you can make will increase with your ranking level and the $XED staked. So no big incentive in downgrading. You can however play for bigger bets within friends groups instead of letting the matchmaking work.
2. There are many deterrents in the platform and one will be required to KYC to make sure cheaters don’t return. We will make sure we compensate all those affected by cheaters but we are confident in our anti-cheaters solution which will have community-driven oracles for video referees you can activate if you feel there is a cheater.
Q — Telegram user The AMA Specialist: What’s your aim and objective of enhancing the development of Exeedme besides making it a profitable investment opportunity for game lovers of this crypto community?
A — Nuno Fernandes from Exeedme: The driving force is really to put gamers at the center of the platform. Using the power of crypto and NFTs to empower everyone on the platform to turn a hobby into something they can make money off without losing sight of enjoyment.
Q — Lotfi from GAINS: How many people are on the team? For how long have you been working on Exeedme?
A — Nuno Fernandes from Exeedme: The idea was born back in 2018 with a simple but powerful vision from Francisco, a heavy gamer, that when you play alone, you try but when you compete, you try harder, and when you compete and a reward is on the line, that’s when you Exeed yourself. That’s basically where the name comes from.
The goal was to revolutionize the way we compete online. Francisco had been doing research and bootstrapping an Esports tournament platform when we met in 2020 after not seeing each other for more than 7 years.
He told me about the concept of the project and we started discussing how the gaming industry has been run in walled gardens for so long, how tough it is for average players like me to really make some money instead of just spending.
Immediately, I felt a shot of adrenaline and my mind started churning. I just had all of these ideas about the potential of using DeFi and NFT innovations to improve the focus on the gamer. Not just pro gamers, also casual gamers like me, to give them additional opportunities to monetize their game skills using crypto assets with open market dynamics. We immediately aligned on doing this together and that’s basically how Exeedme was born in 2020.
I would say that most projects start from a technological solution but we started from the final goal. We want to revolutionize the way gamers compete online with a gamer-centric approach, with a gamer-centric economy.
We are currently 5 people full-time and the same number part-time. With the fund raise closed, our goal is to convert all the team to full-time members and also hire some additional talent. 😉
Q — Lotfi from GAINS: 10 team members is a good start. How many more would you like to have in the near future and in which areas/departments?
A — Nuno Fernandes from Exeedme: I tend to say quality over quantity. We will be hiring 2–3 more people for development and 1 more for marketing purposes. Also, converting the part-time ones into full-time will boost our capacity by a lot.
We are aiming to get high-quality team members that are aligned and passionate about our vision, I guess that’s the key ingredient.
Q — Lotfi from GAINS: Did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?
A — Nuno Fernandes from Exeedme: Exciting news this week as we closed all of our private rounds, raising $900k which we count on to develop our roadmap.
We had a huge demand for these rounds with +7000 submitted allocation requests with >$25m interest. This gives more strength to our vision and keeps us very excited about the work that we need to do:
45% will go towards the platform development and 30% for marketing actions such as partnerships, awareness, and go-to-market strategy. We will use part of the funds raised to also provide liquidity on Uniswap and ensure a healthy secondary market.
Q — Lotfi from GAINS: What stage is the project/product at?
A — Nuno Fernandes from Exeedme: We have been working for the last couple of months to establish a purposeful $XED economy that makes sense from a utility point of view. We want to create sustainable engagement for all gamers but also for other key stakeholders, tournament organizers, and game developers. Our team has been iterating on the alpha version of the platform. You can take a brief look at our presentation video on our website. We are currently incorporating all $XED logic into this first version of the tournament platform and focused on the launch of our Beta in Q1 for shortlisting gamers to have access and be able to challenge friends, bet with liquid cryptocurrencies, and earn some $XED.
Nuno, thank you so much for coming in. It was really fun! Where can we find Exeedme? Do you have some resources you want to share? — Lotfi from GAINS
Guys, it was a pleasure to share these al
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