Gamepad — Telegram AMA — April 18
On Monday, April 18, we had the pleasure to welcome to our Telegram chat:
Eric Su, CEO
We asked them questions about the development of Gamepad.
Some sentences have been slightly edited for readability but the meaning has been conserved.
Q — Ayeley from GAINS: Is Gamepad your first crypto venture? It would be interesting to know about your exploits so far and how you ended up in crypto
A — Eric from Gamepad: I have a lengthy background in startups and last founded exnetworkcapital.com — a $200 AUM fund that was an investor in FTX, My neighbor Alice, illuvium, star atlas, Polkastarter, BSCPad, and more.
I first heard of Bitcoin when it was around $35 but chickened out from sending payments to remote sellers through Localbitcoin. I finally pulled the trigger at $300 and started investing in ICOs when BTC went to $19k.
A — Abhishek from Gamepad: I am Abhishek Rathod, COO of Gamepad. I used to be a hardcore gamer in my school and college days. Post-college I started my own game design studio and animation institute. In 2014 I started playing poker professionally and moved to Sweden to pursue poker.
Past 2 years I’ve been actively involved in the crypto space and working with Exnetwork on various projects, so when Gamepad happened it was like reigniting the old passion for gaming.
Q — Ayeley from GAINS: Tell us more about Gamepad and what you are bringing onboard
A — Eric from Gamepad: yes, our background in game development and deep participation in the crypto ecosystem is quite rare in the space
Gamepad is a decentralized accelerator for web3 games and metaverses. Through our platform we incubate, launch, offer staking, NFT sales, and help community engagement. We plan to launch the next big thing in web3 games and metaverses using our experience as a fund and incubator for the last 4 years.
Gamepad is unique in that it focuses not just on the IDO part but also on improving the fundamentals like tokenomics. We also help until after the IDO with its built-in staking, NFT Genesispad, and other features like a Social hub to see updates and media in one place. Then we also score and rank wallets that have supported the project for the long term with our own proprietary system called GP-Score.
A — Abhishek from Gamepad: Existing launchpads do not quite satisfy participants from public sales, teams, and investors due to their focus on one-time sale interaction and short-term gains. This results in most gaming projects losing hype over time
Our support extends post-launch, motivating investors to hold long-term and actively get involved with projects which leads to better relationships between investors and projects.
This is where we are different from other launchpads
We have a lot of really creative plans to make this a special platform including having our own PFP collection that will become the basis of a metagame that will incorporate elements or characters from games launching on Gamepad.
A — Abhishek from Gamepad: We have features like GP-score, VIP room, etc that promote long-term value for both investors and projects. Apart from this our VIP room members get access to early access to the game, beta testing, exclusive NFTs, etc
In principle the more an investor holds long-term the more benefits he gets.
Q — Twitter user @tanmoy284910957: I Understand that GamePad is to work as a Launchpad for games. Can you give us more information about how this Launchpad system of GamePad will work? What kind of requirements will companies & their games need to meet if they want to launch with you?
A — Abhishek from Gamepad: There are two types of IDOs a project can get on. Spotlight IDOs and Community IDOs
Spotlight IDOs are more premiere projects where strict due diligence is done to ensure the projects meet certain requirements and have to be approved by the council.
Some basic requirements are a strong and experienced team, reputed and long-term investors, strong tokenomics along with having high-quality gameplay and art.
Community IDOs are projects that we feel have good potential but do not meet all the requirements of the Spotlight IDO.
In this case, we pass the project details to our community, and the community votes to decide, if approved by the community, Gamepad will incubate it.
Q — Twitter user @MdTanbi35716872: It says on your website that the top holders of $GPAD tokens will be part of your community’s “VIP board” group. What could be the goals/mission of your VIP group? Also, is there a specific number of tokens that must be owned to be eligible for this group?
A — Abhishek from Gamepad: VIP room is a unique concept we are introducing on the Gamepad platform. Top stakers and wallets with high GP-score will have access to the VIP room.
Being part of the VIP room gives access to NFT drops, free prizes, community IDO voting, beta testing, Gamepad merchandise, and many more rewards. The main goal was to offer more to investors than just an investment platform and help gamers and projects connect on a more personal level.
More details on the requirements to hold $GPAD and the GP score, in order to gain access, will be revealed soon.
Q — Telegram user Dary: You mention: “any game that goes through Gamepad is more likely to be a long-term success on a fundamental level” Why do you think it’s likely to be a long-term success? How can the quality of these projects be determined? Does the community have any role in the success of the game?
A — Abhishek from Gamepad: What we mean is that when we select to onboard a project we will do strict background checks and due diligence. This not only includes investors, tokenomics, etc but also the quality of graphics and gameplay. This doesn’t guarantee the success of the game on the $ level but it’s definitely going to filter out and offer a solid game.
Q — Telegram user Chukky: How will your project prevent early investors from selling their tokens? Many investors buy tokens and then sell them all in a sale after the initial exchange listing. What long-term advantages does token provide? What are the advantages of holding a position?
A — Abhishek from Gamepad: Yes, this is one of the core reasons behind our motivation to do Gamepad.
We want to support projects long term not just during the launch and reward investors who hold the project tokens and/or stake them long term. There is a lack of relationship between IDO investors and Games, we want to bridge that gap.
Q — Ayeley from GAINS: Let’s talk about your token now. What role does the token play in the Gamepad ecosystem?
A — Eric from Gamepad: $GPAD is our main token and represents the success of the platform. the main function is it will grant whoever staked it allocation on projects in the accelerator via Tiers
GPAD stakers can also vote on who to IDO next and on proposals.
It will also have uses in acquiring Lottery tickets to buy or mint scarce NFTs from the project. Fees from early yield withdrawal will also be paid in GPAD.
More uses are planned as we build up the platform over time.
Any earnings we have thru GPAD will be used to buy back and burn so the bigger we get the scarcer the GPAD supply will be.
Q — Ayeley from GAINS: Do you have the tier structure out already? What will be the minimum GPAD needed to join a tier?
A — Eric from Gamepad: Not yet! we will announce after our Copperlaunch.com LBP sale sometime in the late May or early June (depending on the market condition)
Q — Telegram user Hiho: Do you have plans to Increase the overall token value and is there any burning and buyback planned for the project.?
A — Abhishek from Gamepad: Sure, I’ll list down some deflationary mechanisms we have in place.
— 30% of the incubation fees will be used to buy back GPAD from the market and burned.
— 30% of all earnings from the Gamefi and Metaverse NFT launches will be used to buy back GPAD at the market rate to be burnt.
— 100% of early withdrawal fees from staking pools will be fully used to buy back and burn $GPAD
Q — Ayeley from GAINS: Talk of the Copper sale, did you raise funds in other rounds so far? If so, how do you intend to handle these funds?
A — Eric from Gamepad: Yes, we completed our one and only investor round at $2.5m led by Okx Blockdream fund and Enjin.io
We have 30+ other investors but we will announce them soon 1 by 1.
The funds will be primarily for product development, operation expenses, and marketing
Q — Ayeley from GAINS: So what would you say to convince the crypto user who says that launchpads are not attractive now because of the existing market conditions. What features are you bringing to the table that we’ve not seen before?
A — Eric from Gamepad: Gamepad is not just a launchpad but a holistic approach to projects being successful long term. so besides the launchpad. we have an accelerator program then a launchpad platform, then a staking platform, then an NFT launchpad, then a gamehub page
Then we have a strategy to reward long-term supporters as no other platform has done before.
Q — Ayeley from GAINS: What should we expect in the next weeks and months?
A — Eric from Gamepad: We will be revealing our investors, then announcing our advisors, a new addition to the team, then announcing our first Spotlight launch, our NFTs, and many more
Q — Telegram user Tommy: The current market condition is in the “DOWNTREND” Phase. Do you think that launching your platform in this phase is a good idea?
A — Abhishek from Gamepad: Markets keep going up and down, none of us have a crystal ball. Do we want to launch in a good market? absolutely. But at the end of the day, it’s the product we deliver that matters.
And in my opinion, gaming on the blockchain is just getting started, we are years behind the traditional gaming industry and we want to be part of the movement to blockchain gaming. End of the day, you don't stop working because markets are red.
Abhishek and Eric, thanks for coming into our community, and taking the time to answer our questions. Do you have any final words for us? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS
Thank you for having us here, love the community. We will be giving out updates regularly, be sure to follow us.