499Block AMA LIVE with John, CEO & Co-Founder of Lgame

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Lgame

8 min readJun 27, 2019

On June 6th, 2019, John, CEO & Co-founder of Lgame, was featured in AMA LIVE conducted by 499Block, one of the most influential female blockchain communities in China.

Speaker Biography:

John, CEO & Co-founder of Lgame, is an entrepreneur who enjoys challenges. After studying in the United States, he came back to Taiwan to work in the fintech industry in 2010.

In 2014, John joined the game industry with friends, and provided customization and development services for international gaming companies as an independent game studio. In early 2016, he was exposed to cryptocurrency and began to have a strong interest in the combination of blockchain and game. Lgame Studio was established at the end of 2018.

Moderator Biography:

Yuki Pan, Managing Director of BN Capital, graduated from Cass Business School, City University of London. In May 2017, Yuki joined the company and was responsible for overseas marketing business, investment banking incubator business and investment research assistance in primary market.

Q&A Part 1: Early Experience in Blockchain Industry

Yuki: What did you do before you started Lgame?

John: I have been studying in New York for nearly 10 years. In 2010, I came back to Taiwan and engaged in the Fintech industry after finishing my studies. In 2014, I started the game business with friends, and we provided customization and development services for many international game companies.

Yuki: Why did you join the blockchain industry?

John: The first time I learned about cryptocurrency was in early 2016, and the reason was to find solutions to the cash flow and cross-border payments. After a deeper understanding of cryptocurrency, we found that the decentralization, openness, immutability and anonymity features of the blockchain can be well-combined with the game. From that moment, we decided to make the Blockchain + Game.

Everyone may have experienced the 2018 blockchain bear market, and many projects failed. Lgame is definitely a bear-born project. We decided to start Lgame at the end of 2018, and we believe that our capital resources and strong technology can create the next “unicorn” in the game industry.

Q&A Part 2: About Lgame

Yuki: Please briefly introduce Lgame.io.

John: Lgame aims to build a blockchain game ecosystem with complete applications.

The biggest features of Lgame are as follows:

1). Brought millions of traditional gamers on chain;

2). Own OTC market and cryptocurrency exchanges;

3). Exclusive Layer 2 Network design greatly enhances the payment experience in the game;

4). Lgame lets players to enjoy the game while earning the revenue of the entire ecological growth.

Yuki: Lgame will have its own token — LGC. What’s the difference between LGC and other game project tokens? What is the advantage of Lgame?

John: When you play traditional games, you need to pay the game platform or game publishers without any income, unless you are a pro. However, Lgame wants players to enjoy the game while earning the revenue of the entire ecological growth.

One of the biggest differences between us and other projects is that LGC won’t conduct private sales.

We have enough funds to maintain the development and operation of the game. LGC are created to motivate the entire ecosystem, and allow players to grow with the entire ecosystem.

For example, our first game “Big Boss” by Lgame has achieved a win-win situation with players. Within the first three days after its release, the game’s online top-up reached more than $10 million.

The core creative concept of Lgame is “Gaming as Investment”, players can earn LGC as rewards while playing on Lgame. All Lgame’s profits, for example, trading fees, advertising fees and interest on precipitating funds, will be returned to LGC holders.

Let me show you the various multi-application scenarios that we will build in the future.

1. Reasonable game withdrawal fee
2. Exchange transaction fee
3. Exchange service fee
4. OTC fee
5. Exchange listing fee
6. Commission on project incubation
7. Transaction fee & profit sharing in offline payment scenarios

These scenes can speed up the flow of LGC Token. As more people come to buy LGC, the value of LGC will grow steadily and holders will gain long-term benefits.

Yuki: How many games has Lgame launched?

John: As I mentioned before, now we have launched “Big Boss”. Also, we are going to launch new games step by step in the near future. Each of our team members has a huge number of tasks need to get through, in order to achieve a real blockchain game ecosystem.

Yuli: What is the future planning of Lgame?

John: You can see from the roadmap, Lgame’s development process is divided into three phases:

In phase one, Lgame will launch all sorts of popular blockchain games with the concept of “Gaming as Investment,”

by adopting the world-class gaming engine technology from Egretia and containing user-friendly mining modes and features. Profits will be redistributed to loyal community supporters, driving traffic onto the platform. Frictionless transactions and unique features be added like, mini futures contracts, an Lgame OTC Market, and Lgame Wealth Management will create a complete traffic aggregation portal.

In phase two, the launch of the “Interstellar Payment System,” the open “Alipay-esque” payment system, and the creation of the Lgame OTC Market. The Lgame Foundation will also launch a regulatory economic policy control unit to administer all IGOs through exchanges within the Lgame ecosystem.

In phase three, Lgame modules and protocols will be used to assist other related industry enterprises in to accelerate their construction and expansion. Each enterprises’ individual ecosystem will overlap to build a massive ecosystem with unlimited imagination and growth potential.

Yuki: Why does Lgame cooperate with the Egretia project?

John: Our team has been using the Egret engine to develop games for a long time (Egret is the top traditional game engine developer). We strongly agree Egret’s strategy when they started developing the blockchain game and establish Egretia. We believe that the game + blockchain is the trend of the entire game industry in the future, so we choose to cooperate with the Egretia project.

Q&A Part 3: Team Background

Yuki: Can you briefly introduce your team’s background?

John: Members in Lgame core development team come from a number of well-known game companies, such as Gamania and Soft-World. Our team has been involved in the development and management of many major game projects, and owns experience in developing large-scale MMO Internet games using Vfield. My team has developed from infrastructure game engine, to upper layers using H5 Egret, Unreal, Unity, and accumulated a wealth of experience in mobile game market. We have developed a variety of games using H5 Egret game engine from 2016.

We are committed to the blockchain technology solution, cross-border payment, frequency transaction matching engine exploration and application. The team also has built strong technical experience in these years, providing technical support for the realization of Lgame’s strategic layout.

Yuki: How do team members agree to disagree?

John: We learned from the management model of the Binance and adopted a distributed management approach because I believe that will be the operational model of the future blockchain. Our core development team members are based in Taiwan, we also have teammates who are based in China, Hong Kong, Singapore.

Q&A Part 4: The future of blockchain game

Yuki: How much potential do you think has the blockchain gaming industry? What is the problem existing in today’s gaming industry?

John: Data speaks louder than anything else.

According to NewZoo data, in 2018, the global game market totaled $137.9 billion, and the growth was stable. It was nearly twice the market size in 2012, with a compound annual growth rate of 9.06%. On the one hand, it is due to the rise and explosion of mobile games, which has brought about a big growth. Mobile games have brought a new wave of users to the game industry because of their lighter and more convenient audiences. In 2021, the global game market is expected to reach $180.1 billion. The current booming game industry and its potential in the future are amazing. It is definitely an emerging global trend that everyone recognizes.

The future of the game industry should include blockchain games, and Blockchain + game will break through the traditional games concepts.

If 10% of the games developed with blockchain, the market value of blockchain gaming market will be $18 billion. So it could be a big cake.

Yuki: In the era of blockchain 3.0, what is the difficulty for mass adoption of blockchain games?

I think the challenges are in the following 3 aspects:

1. Payment: Currently, cryptocurrency has not been accepted by the majority, and its user experience and expectation is not fully mature yet. Only a small group of innovators know how to use it. Thus, we hope to make the whole process easier and encourage more people to use cryptocurrencies at the same time.

2. Gamers: Games cannot be limited in the blockchain industry. The real fun games currently haven’t entered the field of blockchain. Players blockchain games may pay more attention on the profits of game tokens, instead of the games themselves. I didn’t mean to judge, but we hope that we can be the innovator who create games attracting more players for both fun and profits.

3. Developers: Currently, since the whole industry is still in its infancy, we still need more talented and qualified developers to participate in blockchain industry. We are looking forward to working with more professional developers, and to making progress together for a brighter future of blockchain.

Website: https://www.lgame.io/

LinkedIn: https://www.linkedin.com/company/lgame/

Twitter: https://twitter.com/Lgame_io

Facebook: https://www.facebook.com/Lgame.io

Medium: The future of the game industry should include blockchain games, and Blockchain + game will break through the traditional games concepts.

If 10% of the games developed with blockchain, the market value of blockchain gaming market will be $18 billion. So it could be a big cake.

Yuki: In the era of blockchain 3.0, what is the difficulty for mass adoption of blockchain games?

I think the challenges are in the following 3 aspects:

Website: https://www.lgame.io/

LinkedIn: https://www.linkedin.com/company/lgame/

Twitter: https://twitter.com/Lgame_io

Facebook: https://www.facebook.com/Lgame.io