GameFi x Satoshi Club AMA Recap from the 25th of August
Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from GameFi and our guest, @Lexia_Ng. The AMA took place on the 25th of August.
The AMA session was divided into 3 parts with a total crypto reward pool of 500$.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram&WebSite
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with GameFi
Today our guest is @Lexia_Ng
We are very happy to welcome you again, GameFi! What new things have happened with GameFi since March? What do you want to share and show off?
Andrés M. | Satoshi Club: Welcome @Lexia_Ng!
Lexia Ng | Sorceress @ GameFi: Hello everyone!
Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, @Lexia_Ng.
Lexia Ng | Sorceress @ GameFi: I’m so happy for being here today.
Gold Rocket | Satoshi Club: We are also very excited about the upcoming AMA
Let’s start! Introduce yourself please. How did you get to be involved in crypto & GameFi? Tell us please about your position in GameFi?
Lexia Ng | Sorceress @ GameFi: As you know, I’m Lexia Nguyen from team GameFi.
My position in the project is Head of Operation, which is to say I am in charge of the whole of the operation for GameFi. This means ensuring entire team has to operate smoothly and be in sync with one another, in addition to having a strong connection with GameFi’s partners, game studios, and, especially, our treasured community.
I’ve known and learned about blockchain since 2012, with about 3 years working as a PM in blockchain projects. Btw, I’m also a gamer since I was 10.
Along with Hai Duong, GameFi’s CTO, we created GameFi to bring it an comprehensive hub for blockchain games and gaming finance
Gold Rocket | Satoshi Club: I am impressed
Andrés M. | Satoshi Club: Great background, we are honoured to have you here.
Gold Rocket | Satoshi Club: What news did you bring us since the last e-meeting?
Andrés M. | Satoshi Club: That’s true, we had a great AMA with Gamefi in March 28
Lexia Ng | Sorceress @ GameFi: Haha can I reveal at the end of this AMA?
Gold Rocket | Satoshi Club: Of course
Thanks for great introduction, we will have several questions selected for the Part 1. Ready to start?
Lexia Ng | Sorceress @ GameFi: More than ready
Andrés M. | Satoshi Club: Let’s go.
Q1 from Telegram user @DK177:
While describing token utilities, you have mentioned that GAFI holders receive discounts on trading and yield fees, whereas GAFI stakers have the ability to propose the direction of the ecosystem. It is clear that holding and staking are different. However, I want to know whether do you offer these options separately. Are GAFI stakers unable to receive discounts? Are GAFI holders not permitted to submit proposals? Conversely, are both holders and stakers allowed to get discounts and propose the direction? Please explain the token utilities for holders and stakers. As a long term investor, which is better on your platform, holding or staking? Which does offer more rewards in the long run?
Lexia Ng | Sorceress @ GameFi: 5 questions in 1?
Gold Rocket | Satoshi Club: Very curious Satoshi Club
Andrés M. | Satoshi Club: But regarding the same topic
Lexia Ng | Sorceress @ GameFi: I’m not sure where you got the info that “GAFI holders receive discounts on trading and yield fees whereas GAFI stakers have the ability to propose the direction of the ecosystem. It is clear that holding and staking are different.”
To clarify, $GAFI stakers will be the ones with the most benefits, of course, including receiving discounts on trading and yield fees, voting, participating in exclusive sales etc.
Andrés M. | Satoshi Club: What is the APR of the staking programs you offer?
Lexia Ng | Sorceress @ GameFi: We will have a specific announcement on this feature.
If you want to be a long term investor, I highly recommend staking rather than just holding. Here are the $GAFI utilities:
- 1. Stake to get tiers to participate in token sales and NFT sales;
- 2. Stake to get better benefit at farming and NFT renting;
- 3. Stake to get discounted marketplace fees;
- 4. Buy advertising slots on marketplace;
- 5. Buy tickets to enter super-rate items’ auctions;
- 6. Stake to have access to minigames, game campaigns, and early access to newly released games;
- 7. Stake to DAO governance to earn rewards;
Andrés M. | Satoshi Club: Excellent answers
Gold Rocket | Satoshi Club: Thanks for this hint
Now it is obvious that this is the key
Andrés M. | Satoshi Club: Thank you, will be waiting to know more about it!
Gold Rocket | Satoshi Club: Thanks for your great answers. Ready to proceed to the next question?
Lexia Ng | Sorceress @ GameFi: Sure!
Q2 from Telegram user @Cheriemike:
It is stated in your website that GameFi is the first game-specific launchpad, with tools to facilitate the success of games. My question is, since you have created your own launchpad where gaming platforms will hold their IGO,IDO,IEO etc, will everyone who needs to join GameFi ecosystem be it game studios, investors, or gamers undergo KYC process to participate in your Launchpad IGOs? How will you get to know trusted projects before they use your Launchpad, will you carry out an extensive research of such projects in other not to be held responsible for any misfortune like rug pulling?
Lexia Ng | Sorceress @ GameFi: For the KYC, it’s a must.
At this stage, we only accept projects from reputable studios and teams we know personally, as well as teams were introduced by our trusted partners.
Then, the projects will undergo a rigorous evaluation process during which we will determine the development team’s origin, the long-term viability of tokenomics, the innovation of ideas, the ability to execute, the strength of backers and community, the security and quality mindset, and audit results.
Gold Rocket | Satoshi Club: You have approached this issue rationally and seriously enough, safety first
Andrés M. | Satoshi Club: First time I heard about “IGO” concept, could you explain a little about it?
Lexia Ng | Sorceress @ GameFi: IGO means Initial Game Offering. Conducting an IGO means you’re offering in-game assets to the public for the first time. At GameFi, we support both token and NFTs.
Andrés M. | Satoshi Club: Very interesting. Btw, you were talking about your trusted partners, could you tell us who are your partnerships?
Lexia Ng | Sorceress @ GameFi: For GameFi Accelerator, we collaborates closely with Polygon Technology to support game studios developing their projects on the Polygon Network, taking advantage of the network’s scalability, low transaction fees, and multi-chain ecosystem.
For GameFi Launchpad, we are backed by Icetea Labs, and DAO Maker. Each has many top tier games on the market and in the pipeline, so there are many hypes around those projects already.
Currently, we also have partnered with game projects like Step Hero, Kryptomon, Bunicorn, Kaby Arena, to name a few, for the Marketplace and Yield Guild.
Moreover, our advisors are all reputable individuals in the blockchain field like Mr. Thi Truong from Icetea Labs, Mr. Danilo S. Carlucci from Morningstar Ventures & Polkastarter, and Mr. Hatu Sheikh from DAO Maker. They are all enthusiastic people to support us in our project.
Andrés M. | Satoshi Club: Important names, congratulations
Gold Rocket | Satoshi Club: Amazing
Thanks for your answers! Do you want to add something? Or we can proceed to the next question?
Lexia Ng | Sorceress @ GameFi: Let’s go to the next question ^^
Q3 from Telegram user @meml97:
It caught my attention that for Q4 2021, “Scholarship” is one of the points you have, can you tell us more about this future programme? How will this scholarship system work and for what games or features exactly? Will users be able to give scholarships to others through your platform or will it be something that only companies can do? Any who, how will you verify that this is a fair system and not a place where some users can exploit and take advantage of those in needs of such scholarships?
Lexia Ng | Sorceress @ GameFi: Scholarship is a part of the GameFi Yield Guilds. It enables in-game asset owners to earn passive income by participating in various gaming finance vaults. On the other side, it can also help new gamers onboard (scholars), then both scholars and owners can share in the profits of play-to-earn later.
Everyone can join GameFi Yield Guilds and take part in our scholarship programs!
We have a dashboard so people can see scholarship statistics. We will start with Axie Infinity and explore to other games.
Andrés M. | Satoshi Club: Fantastic initiative
Btw, could you share us your whole roadmap? What else is coming?
Gold Rocket | Satoshi Club: Yes, here we can really see benefits for everyone
Lexia Ng | Sorceress @ GameFi: Here you go!
In the early of September, GameFi will conduct IDO on 3 launchpads: Red Kite, DAO Maker, and also on GameFi itself. Along with that, the GameFi Launchpad will also be released for conducting the first IGO.
For now, everything is still going well under a tight schedule we have set.
Gold Rocket | Satoshi Club: Thanks for sharing and for answers!
Ready for the next question?
Lexia Ng | Sorceress @ GameFi: Hahaha keep going
I’m ready for the whole night so you don’t need to ask about it
Andrés M. | Satoshi Club: Thanks, just to be sure
Gold Rocket | Satoshi Club: Ha ha, this is the super power of all experienced gamers. (I’ll tell you a secret, Andres is also a seasoned gamer)
Q4 from Telegram user @yellowchamp:
GameFi also apply play2earn models to drive adoption and player-ownership. As we know, many platforms nowadays that also apply this kind of models like the popular today which is the Axie Infinity and like Axie, GameFi will also offer a Scholarship. So, as a non-gamer person honestly, I still didn’t understand that Scholarship. So, with regards to GameFi scholarship, can you explain more about it? How to apply as an scholar in your platform? What are the benefits of the scholar in GameFi? I also heared about manager, what will be the tasks of being a manager? In what way a scholar can earn revenue in your platform? Lastly, do you have any video tutorial or guidelines to learn more about the Play-to-earn model in GameFi? Thank you.
Lexia Ng | Sorceress @ GameFi: Literally, taking part in the scholarship programs on GameFi is almost the same as sponsoring/getting a scholarship while you’re in college. When financial abundance is not your strong point, there will be partners to support you for your development and mutual benefits.
At GameFi, scholarship recipients can receive benefits such as having money to buy characters, eggs or pets, open lootboxes, get partners for pet breeding etc.
The scholarship provider can also use the tokens they own to stake on the account of the scholarship recipient, giving the scholarship recipient’s characters more experience/power or other advantages while playing games.
In return, they will be sharing a portion of the earnings that the scholarship recipient earns from playing the game.
Andrés M. | Satoshi Club: Good idea.
Gold Rocket | Satoshi Club: Sounds great
Lexia Ng | Sorceress @ GameFi: If you are a newbie to a game or starting to play a blockchain game for the first time, in order to get started, you will need to spend an amount of money for on-boarding, buying & upgrading in-game items, etc. However, not everyone can afford to spend a large amount of money when they have not yet experienced the gameplay.
That’s how the scholarship works and benefits both the gamers and the investors.
Andrés M. | Satoshi Club: Thanks for clarify it, a great feature of GamiFi.
Let’s proceed with the next question
Q5 from Telegram user @Asela1112:
You have announced a strategic partnership with Bunicorn on 20th of August. Under this partnership, Bunicorn will have its NFTs among the first game items listed on GameFi Marketplace as I noticed. Can you share with us some informative facts about Bunicorn NFTs listed on GameFi Marketplace? What kind of advantages, will this partnership bring to the GameFi ecosystem? In which way do you hope to enhance the GameFi NFTs marketplace with the Bunicorn NFTs & Game?
Lexia Ng | Sorceress @ GameFi: We will have a specific announcement on the details of NFT Bunicorn sold on GameFi in the future, when the GameFi Marketplace is officially launched. It can be said that Bunicorn is one of the earliest and most important partners of GameFi. Our partnership doesn’t just stop at the sale of NFTs, but also extends to many other components of the GameFi ecosystem.
Having NFTs provided by reputable partners like Bunicorn listed and sold on GameFi Marketplace plays a very important role in the development of us. This brings us closer to our goal of becoming a gaming finance hub where gamers & traders can find the most reputable NFTs then can trade NFTs between various blockchain games without borders.
Gold Rocket | Satoshi Club: I’m really looking forward to your market place
Andrés M. | Satoshi Club: Several Gaming projects are introducing the concept of Phygital NFTs, have you considered it?
Lexia Ng | Sorceress @ GameFi: Sure. It’s quite trending now so we will definitely consider supporting this type of NFTs.
Gold Rocket | Satoshi Club: Thanks for your answers!
Do you want to add something? Or we can proceed to the last question of this part?
Lexia Ng | Sorceress @ GameFi: Let’s move on
Q6 from Telegram user @Highpee:
You plan to conduct a triple IDO on your platform, Red Kite and DAO MAKER in the early week of September, by the time your project will launch your token. How much have you raise so far in the previous seed/private sales and what are your funding expectations for this public round? What will be the price and sale cap size for individuals? What will be the procedure to partake in each launchpad and how possible will it be to join all the sales? Since you said your project will power both BSC and Polygon gaming ecosystem, are you going to have sale for multiple version of your tokens for each chain?
Lexia Ng | Sorceress @ GameFi: It’s better to take a look at our token metrics: https://docsend.com/view/wg9czts7ugkvrp99
The IDO guidelines will be released on the next week. At this stage, $GAFI will be on Polygon first.
Andrés M. | Satoshi Club: A real gem
Gold Rocket | Satoshi Club: Absolutely agree
Lexia Ng | Sorceress @ GameFi: Thank you
Andrés M. | Satoshi Club: Do you plan to be multi-chain?
Lexia Ng | Sorceress @ GameFi: As I’ve said, GameFi ecosystem will support multi-chain.
Andrés M. | Satoshi Club: Got it, thanks for the clarification and for the excellent and clear answers
Gold Rocket | Satoshi Club: Thanks for amazing first part of AMA
Andrés M. | Satoshi Club: We have been having a great time with you in this first part of the AMA! Now is time to interact with Satoshi Club community
Gold Rocket | Satoshi Club: Now get ready for a storm of questions!
Andrés M. | Satoshi Club: Live segment is here
Lexia Ng | Sorceress @ GameFi: Ok lah
Andrés M. | Satoshi Club: Let’s go @GoldRocket27!
Part 2 — live questions from the Telegram community
Q1 from Telegram user @meml97:
It caught my attention that while reading about the project, I saw that “Earning-without-playing” is one of GameFi’s greatest assets. Which is something that, to be honest, blew my mind, because GameFi is a plaform dedicated to be the all-encompassing hub for game finance. So, I was wondering if you could tell us more about this assets of yours? How will it exactly be possible to earn without playing on your platform? What kind of activities should users do in order to be earning with you in this way?
Lexia Ng | Sorceress @ GameFi: We also care for those interested in profitable investments and looking for passive income streams other than enjoying the gameplay only. That’s why the concept of “Earning-without-playing” was initiated. You can gain early access to high-profile game projects’ tokens or game items, lend your game items to other players to earn, stake your tokens on other players’ game items to earn, join yield guilds to earn passively, and so on.
Additionally, GameFi will integrate financial analysis tools from trusted partners to assist users in planning and determining the most effective and appropriate investment strategy in the blockchain game segment.
Q2 from Telegram user @xperia3:
There are so many gaming project alternatives in the market. What makes GameFi different and how will GameFi attract gamers especially non-crypto Gamers?
Lexia Ng | Sorceress @ GameFi: For us, usability is critical. We aim to create solutions that non-crypto people can use without needing to know anything about technology or blockchain. At this point, I’m confident to say that GameFi’s UX will be very user-friendly as we have learned a lot from the development experience of our partners Red Kite and DAO Maker, who are also well-known launchpads.
The important thing of a game is gameplay and content. Blockchain is just a part of it. So if a game is good and has the additional benefits of blockchain like play-to-earn which gamers can not only play, but also earn a passive income from it easily, I believe the game will be well received by the community. Not to mention our large team of KOLs and brand ambassadors.
Q3 from Telegram user @ashwini_Crypto:
To be Frank, I am looking forward for the $GAFI public sale. When does it going to happen? Any expected date?
Lexia Ng | Sorceress @ GameFi: Early September on Red Kite Launchpad, DAO Maker, and GameFi itself. The exact date to be announced in the upcoming days.
Q4 from Telegram user @feranno:
To ensure GameFi is a sustainable platform, what is your method of generating revenue that can be used for future developments?
Lexia Ng | Sorceress @ GameFi:
Let’s take a look at our business model. Our revenue will come from trading fee, acceleration fee, and yield fee.
Q5 from Telegram user @Jmagsss:
I see that GameFi was developed by no other than Icetea Labs, who cater incubation for new projects and funds them. Icetea Labs is also specialized in supporting project’s plans for migration or developing a cross-chain mechanism for the Polkadot Ecosystem. So, because Icetea Labs is affiliated with GameFi, would we be seeing GameFi support for Polkadot ecosystem as well?
Lexia Ng | Sorceress @ GameFi: On the way to becoming a comprehensive gaming hub, of course, we aim to support all the most popular chains today to create convenience and diversity for our community. Currently, Polkadot has not launched its official mainnet yet so, I can’t say much at this point. However, in the future, the potential of Polkadot is huge and it is understandable that GameFi has a version that supports Polkadot network. The close partnership with Icetea Labs gives me enough confidence to think we’ll do this well.
Q6 from Telegram user @Manzanog:
I understand that you plan to develop a series of mini-games that will train and familiarize players of conventional games to the NFT and Play to Earn models, but will it be very easy for gamers to understand each of these features of DeFi? If so, what strategies will you use?
Lexia Ng | Sorceress @ GameFi: Yes, they are very simple 2D games and cheap to onboard. Players do not earn much, but they can understand the concept and have fun. We will work with our game partners to do it. Users can buy cheap game items, play to earn and upgrade their items, resell on the GameFi marketplace. We will reveal more about these minigames in the upcoming development stage.
Q7 from Telegram user @Sourava12:
As read from website that Q4 2022 “Auction game”, can you tell how this feature will help player to give excellent gaming experience?
Lexia Ng | Sorceress @ GameFi: It’s an auction house to be exact. This is a place where owners of rare and valuable in-game items can put them up for auction. Similar to how regular auction houses work. However, the items being auctioned here will be NFTs, in-game assets or limited editions that the game studios/publishers want to release to the market.
Q8 from Telegram user @satishgmr:
What has inspired Gamefi team to start this project? What problem do you aim to solve with Gamefi platform?
Lexia Ng | Sorceress @ GameFi: As some of you may know, blockchain play-to-earn gaming is now emerging as a phenomenon. However, the whole blockchain-based in-game economy is still in its infancy.
- 1. No dedicated launchpad for blockchain games that allows those interested to gain early access to qualifying games.
- 2. No game hub to explore standout blockchain game projects or valuable in-game items.
- 3. No central repository where players can easily track their earnings and manage their in-game items.
- 4. No platform provides comprehensive game finance tools, including trading, funding, and scholarship opportunities.
- 5. No model enables owners of game items to maximize the value of their possessions when they are not actively playing the game.
Besides, concerning game studios willing to adopt blockchain, many lack the necessary technical expertise and an effective platform for reaching out to game players or token holders.
That’s why we created GameFi to work out these existing challenges.
Q9 from Telegram user @King_Raja:
Local communities are very important to expand the project across the globe, how is Gamefi planning to do it?
Lexia Ng | Sorceress @ GameFi: Other than the main global Telegram group which only accepts English, currently we also have Telegram groups for Korean and Vietnamese.
- 1. Telegram group (EN): http://t.me/GameFi_OfficialANN
- 2. Telegram group (VI): https://t.me/GameFiVN
- 3. Telegram group (KR): https://t.me/GameFi_Korea
We’re planning to build other communities of users who speak other languages as well such as Chinese, Japanese, French, Philippines, Spanish etc. Please stay tuned to our official communication channels to always get the latest news and avoid scammers.
Q10 from Telegram user @NAZMP2:
Trading costs, Acceleration Fees, and Yield Fees are the three types of fees used by GameFi. I’d like to learn more about the differences in your platform’s fees. What are the benefits of each fee mechanism?
Lexia Ng | Sorceress @ GameFi: Trading Fees are applied to item trades that take place on the Game Market.
Acceleration Fees are applied to funds raised on the Game Launchpad and for smart contracts deployed from the GameFi accelerator.
Yield Fees are earned from the Play to Earn financed through the Yield Guild.
Details will be announced in near future.
Part 3 — Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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