[ANN]MBX AMA session with Klaytn
Date & Time: April 28th at 4pm SGT / 5pm KST
Platform: Twitter Space
Event Link: ow.ly/WAWL50IS7c8
Speaker: Sean Hwang (MBX)
Moderator: Sofy (Klaytn)
Sofy: Let us welcome him onboard. Hi Sean! We would love to hear more about yourself.
MBX: Hi Sofy! And Hi to everyone who’s listening to this AMA. My name is Sean Hwang and I’m one of the business project managers of MBX. I am working hard on keeping MARBLEX’s ecosystem healthy, and will continue to do so to the best I can.
Sofy: Thank you for the kind introduction,Sean. Let us move on to the questions we have gathered from the community.
Introduction about MBX
Sofy: Alright, Sean ! Before we proceed, would you be able to share more about MBX. Please give a brief introduction.
MBX: Well..MBX is a service company that connects games and blockchain. While operating tokens connected to the game, our goal is to provide users with a wide range of enjoyment.
Using blockchain services to double the enjoyment of games! This is our goal. We are currently collaborating with various external partners to introduce the most trendy and useful blockchain services.😊
Sofy: In short, you guys are P2E Game company, right?
MBX: It is quite different from what we are, Sophy! If we were just a bunch of ordinary P2E developers, we would never introduce ourselves like this. We, MARBLEX, are veterans from many industries joined together to provide Blockchain service based on games. To make “THE” Blockchain Service, professional game developers, designers, and project managers have teamed up. They have at least 10 years in their career. Moreover, MoU contracts between us and worldwide blockchain companies will advance our services to the next stage, and we are on it very enthusiastically. This may be obvious, but Klaytn, the №1 Korean Blockchain business company, is also our partner.
Sofy: That’s right. Thank you for choosing Klaytn as the blockchain of choice! 😄
MBX: HAHAHA! Right. Klaytn has been a very reliable partner.
Community Questions — Tokenomics
Sofy: Anyway, tokens made by veterans from gaming industries and professional developers… I can expect some bullish news with it. We got several questions regarding MBX before to this AMA session, however the majority of their interest is focused on a specific aspect.
To be specific, “Is your token worthy?”
MBX: That is a difficult question to start with.
Sofy: You can do it, Sean. We are all ears :)
MBX: Alright. This answer may sound very typical but is actually very special. We thought the value of the token is based on how actively they are being used. Therefore, we are aiming to use MBX tokens to make the ecosystem active.
Sofy: You mention that you aim to make the ecosystem active, correct? I guess every token aspires towards this, and it’s a tricky objective to attain. Can you explain MBX’s unique strategy?
MBX: You are right, It’s a very difficult question which a lot of tokens are struggling with. However, MBX comes up with 3 ideas to make the token’s economy sustainable In this session, I want to talk about these three things.
1) A publishing-oriented partnership to establish well-made games 🤝
2) A burn model to preserve the value of tokens 🔥
3) Using a certain portion of game sales for game token staking rewards 🎁
Sofy: The ideas sounds good however, you mentioned something about a publishing-oriented partnership? Would you mind going into detail about the term please.
MBX: Yes, let me tell you about the background. MBX is an ecosystem that forms the value of tokens based on the substance of ‘games’.
Therefore, in order to provide competitive blockchain services, it is necessary to secure diverse and competent game developers. But well.. there are too many game developers in this world. It is difficult to manage and verify each one. That’s why we chose to partner with game publishers. 🎮✔️
How well do you know about game publishers, Sophy?
Sofy: I have heard about game publishers but please do share in detail. Would love to know more.
MBX: Game publishers divide their roles with Game developers. The publisher’s role is to strategically operate and market games. Therefore, developers can focus on their projects and publishers can focus on works that require business skills.
Sofy: So, how does MARBLEX’s partnership with the publisher work?
MBX: Select Triple A games only, and we add blockchain services to it! Through the publisher’s know-how and proven well-made games, MARBLEX will provide satisfactory blockchain services to the users.🌟
In other words, by giving publishers the role of continuously providing well-crafted blockchain games, MARBLEX can focus entirely on the blockchain ecosystem. Users will experience high-quality services for both game content and blockchain. It is our goal to build the stability and reliability of ecosystem activities.
Sofy: I understand. Adopting a well-designed game can be one way to compete.
MBX: Based on “DATA AI”’s research, Netmarble, our partner is one of the Global Top 10 Publishers. They support us with a gigantic amount of infrastructure including Triple A games. MARBLEX is in partnership with more than 5,000 people worldwide, such as Security, Statistics, Marketing, and Development. We can’t grow this big without their support. Let’s focus on the game a little bit later.
Sofy: You mentioned that the second strategy for an active ecosystem was the burn model. Could you explain more in detail about the burning model that Marblex is adopting 🤔❓
MBX: In order to preserve the value of the token itself, a ‘burn model’ has been introduced. All other blockchain’s basic tasks are “How to keep the token’s price?” After token issuance, most of the tokens will experience a continuous decline in value over time due to problems such as low utilization and increasing supply.😔📉
MBX intends to defend against a decline in value by adopting a burn model. Tokens are permanently removed from circulation by burning a certain portion of the fees generated in the ecosystem.🔥🔥🔥
As the tokens are burned, the token circulation is continuously managed and, in the end, the value is preserved. 🤩📈
Sofy: For the benefit of the community, would you be able to share how does this burning works
MBX: Half the charge via each transaction will get burned. So if there is a lot of trading, more tokens will be burned, and your token’s price will stay stable. Also, we plan to periodically reveal the amount of tokens burned to make our ecosystem clear and transparent!
Sofy: Thank you Sean for clarifying as I am sure you have tons of traditional gamers who probably are not familiar with this burning model. So I do hope this helps to clarify. Alright, how about Marblex’s third strategy! Which is game token staking. It seems like it’s a universal method, but how can it contribute to activation? 🤔❓
MBX: The differentiation is… the game token staking reward! Users will receive MBX, the top currency of the MARBLEX ecosystem by staking their game tokens! Also, the publisher will spend their sales to buy rewards from the Market.
Sofy: Sounds awesome! So you mean the reward is from the market, and it will be rewarded to users as a staking reward, right?
MBX: Yes, it’s a model never seen before! However, it is a very very reasonable model. Let me give you an example.
So, as one of the biggest game publishers in the world, Netmarble’s sales were approximately 2 billion dollars last year. They use a certain amount of sales from blockchain related services to buy MBX from the market. These MBXs will be used for “game token staking rewards”.
Here’s the question. Who do you think will benefit the most from this model?
Sofy: Hmm,,, if it’s staking reward… I would think.. The users will benefit. Is that right?
MBX: Nope, I’m afraid you’re wrong. The right answer is the Publisher, user and MARBLEX, which is everyone involved in this business. Once a large amount of MBX is set for the game staking reward, users will have a stronger purpose for staking. And to stake, they will need to play one of our games, right? To earn the game tokens needed to stake. Then, the game will also be more active, and as a result, sales of the game will increase. With an increase in game sales, the amount of staking rewards will increase too, right?
Sofy: Yes that makes sense since a certain amount of sales will be paid to buy MBX.
MBX: Right, as a result, the increase in staking rewards will also increase a user’s willingness to join staking at the same time. Moreover, constantly purchasing MBX will also help the MARBLEX ecosystem to be more active. This sounds difficult, but our exceptional game token staking system will benefit every stakeholder in the MARBLEX ecosystem.
Community Questions — Roadmap
Sofy: I can clearly imagine how motivated the stakeholders will be in the ecosystem.It actually sounds like fun. Now let’s now talk about expandability! “What is the roadmap of MARBLEX? Which game is coming next? “
MBX: Finally! This really is the question I’ve been waiting for! 😄
We are very confident with our roadmap. As one of the TOP publishers, Netmarble specializes in developing and operating high-quality games. This March, we got good responses by combining MARBLEX’s blockchain service with the A3:STILL ALIVE game. We plan to aggressively present well-made games of various genres such as MMORPG, collectible RPG, and casual games.
And, Ni No Kuni Cross Worlds is about to open as well. Sophy, do you like Studio Ghibli’s animation?
Sofy: Oh, definitely for sure!! It’s a world-wide well-known animation film studio and brand itself! Always been a fan of their artistry!
MBX: The collaboration between Studio Ghibli and LEVEL 5 will bring you a very beautiful, fairy tale — like game. To give you a brief introduction about the game’s concept, is that you, somehow, end up inside a game in front of you, where you experience new worlds and new adventures. Also, one of the very famous artists, Hisaishi Joe, joined to produce the background music for the game. Ni No Kuni, a beautiful fairy tale-like game, will be coming to you soon! 🥰
Sofy: Wow! This sounds really interesting as I do play a bit of games. I am super excited for this!
MBX: In addition to the 4 types of games listed on the MARBLEX website, many more are waiting. I wish I could present them to you right now! We believe that our game projects have distinct ‘gameability’ compared to the existing P2E games in the market.😊
At the end of 2022, you may experience a unique real estate game, Everybody’s Marble: Meta World! The original game was famous enough to be enjoyed by 100 million users around the world. This is also one of the most anticipated game.
Sofy: So, do you have any plans to expand your blockchain service beyond games? Including the staking service I mentioned earlier?
MBX: Yes, we plan to increase transparency in information disclosure by basically building a scope service within the second quarter. After that, we will introduce a large-scale NFT service including various games, and attractive characters. Our NFTs will be quite different compared to usual NFTs, like NFT paintings, which don’t have any utility. 😉. We are building an NFT service based on the game’s nature. Another example would be our real estate game I mentioned earlier which will make each landmark in NFTs to attract users’ curiosity. I really wish I could disclose more information at this point, but we promise to make NFT to provide extra fun. 🤩 In addition to this, we plan to add game token staking services, De-fi, and more. We may be back with more information soon.😉 Just a quick promotion! You may come to our Telegram channel to get up-to-date and diverse news. 😄
Sofy: MARBLEX WALLET upgraded a DEX service on Tuesday. How were things going?
MBX: Yes, our Wallet Dex service launched well. Many users have exchanged tokens through our DEX service.
Of course, there have been some concerns about price fluctuations, right after the service opened.
But our ecosystem has just taken its first step!
We are actively communicating with users through our Telegram. We know exactly what users want. We will continue to look for ways to preserve the value of MBX and our game tokens.
Sofy: That sounds great and it seems you guys are all set for an exciting ride aheads. It seems that we might have some time for a few more questions
Community Questions — Distribution Supply Direction
Sofy: How are you going to use those 1 billion tokens? 🤔❓
MBX: The biggest goal of MBX is the continuous revitalization of the ecosystem. Therefore, the token usage plan is also focused on “How to make the ecosystem active”
Of the whopping 1 billion tokens, 75% will be used to revitalize the ecosystem and community.
The 750 million tokens are divided roughly in half between the community fund and the ecosystem fund.🎁💰
The Community Fund is a reward-type fund for users who participate in the ecosystem. It is a reward for directly contributing to the activation of the ecosystem, such as staking game tokens. 🎁
The Ecosystem Fund is a reward-type fund for upgrading the ecosystem, such as technical support and project development. It is a reward for those who create a bigger ecosystem for MBX.💰
In addition, 5% of the volume is reserved for marketing expenses, which will be supplied slowly and planned through various events and listings.
Sofy: Is the total number of MBX issued one billion? According to the Whitepaper, a token is created every second. Could you explain that more in detail please?
MBX: I should explain the token issuance structure of MBX first.
The total supply of MBX is 1 billion, and the Max supply is infinite. Haha I know. You may be confused about what I mean.😁
MBX has a structure in which 1 billion is issued at the time of initial issuance, and blocks are minted each second. So the max supply will constantly increase. 📈
However, just because the issuance volume grows, the value of our tokens does not decrease.
In line with the increasing supply, demands for the tokens will also increase, and second, our token burn model will keep the circulating supply stable.🔥🔥
It’s also our core system, so we’ll cover that in the next question!😉
Sofy: Is MARBLEX well decentralized?
MBX: Well, decentralization…We completely understand that our ecosystem may not seem very decentralized.
We have adopted some centralized systems as a way to increase user convenience.
For example, we can use centralized CS settings to help users’ errors.
However, as we stabilize our system, and as our user base increases, we will move more towards decentralization.
Community Questions — MARBLEX Wallet’s future utilization
Sofy: The next question is from someone in the community. Are you preferring Klayswap to be used on the Marblex app? Will the MBXL token be used as a utility on the app, such as switching mbxl to inetrium and other in game currency? Will we see nft or in game stuff on the app soon, or simply a marketplace?
MBX: I think that was three questions in one comment. I will try to answer them one by one.
For the first question..If I understood it correctly, I think it means if we have plans to integrate Klayswap onto our app?
Well..we do have a function for swapping Klay to MBX on our app via Klayswap, but we do not have any plans to expand this and make any other swaps available at the moment.
And as for the second question which was about swapping MBXL to our game tokens, our DEX service opened just a few days ago, so you can try it out on our app right now!
Finally for the third question about NFTs and a NFT marketplace, as we mentioned earlier, we do have plans for both NFTs and a NFT marketplace just for the MBX ecosystem, and this will be ready wtihin the third quarter.
Community Questions — Exchange Listing
Sofy: It’s almost the end of our session. The next question will be about the amount of token circulation.
This is also a frequently asked question. How will MARBLEX get tokens to market? When will the listing be scheduled?
MBX: I would like to take this time to apologize to our users.
The MARBLEX team knows too. We were very conservative, so we couldn’t reveal how many tokens will be released in as much detail as possible.
To make an excuse, Well, we planned to go public about this after the Dex update and tokens got their place on the market. We also had a hard time keeping quiet to release our wonderful plans.😄
From now on, we will release news, upcoming games, and listings very aggressively. Of course, MOU partnerships with outer blockchain companies as well.
Please stay tuned.
Sofy: Alright, Haha 😄. So, what can you say to people in response to their questions?
MBX: Hmm 🤔, I can answer your questions with two facts.✔️✔️
✔️First, about the tokens allocated for ecosystem & community. As stated in our whitepaper, these tokens will be supplied for the long-term growth of our ecosystem.
One example may be our game token staking system. We can’t give more details about it yet, but we are planning to give MBX tokens to users who stake their game tokens, such as ITU, in addition to the market-purchased MBX I mentioned earlier
✔️Next is about the tokens allocated for marketing purposes. We will periodically hold events such as Airdrop events and will continue to provide events to users.
Various marketing activities are prepared, such as game-related airdrop events and events inside the wallet app.
✔️We are currently discussing this with the world’s major Central exchanges.
We are discussing this with exchanges in countries around the world. Through this, users from various regions will be able to easily access MBX.
You may never hear this information anywhere. In May, our first listing is coming. SURPRISE! 😊🥳