AMA Recap with John Augustin, Co-founder of GameNFT
On 25th September we had the wonderful opportunity to interact with John Augustin, one of the co-founders of GameNFT in the form of AMA in GameNFT’s official telegram group.
No worries if you missed the event as you can find all the Q&A below.
AMA Theme: GameNFT’s ambition of becoming the Steam in chain games!
Q1. Could you please briefly introduce yourself and GameNFT?
A1: Sure. Hello everyone, this is John Augustin. I am one of the co-founders of GameNFT. I have many years of experience in the traditional finance and game industry. I started to focus on the blockchain industry in 2013 and successfully invested in many famous projects. In 2014, I started my own game team and officially entered the blockchain game industry in 2020.
The team members of GameNFT are both innovative and passionate. GameNFT’s technical team is composed of developers of top games from different countries like Philippines and Singapore. They have participated in the development of many large-scale games like “League of Angles”, “War in Pocket”, “Ever Quest”, “Rayman Legends”, “Splinter Cell” etc, which are popular in many countries. We are committed to building GameNFT into the most influential decentralized pan entertainment NFT product distribution and trading platform. Users can play block chain game works developed by the platform, cast, import and trade NFT assets on the platform, and upload their own game works. Platform token GNFT is applied to the whole platform ecosystem and self-developed game system. What we ultimately want to be is the Steam in blockchain.
Q2. Do you think that chain games will become a relatively independent industrial ecology in the future? What role will GameNFT play in this industry?
A2: Well, actually, I have never doubted that chain games will become an independent industrial ecology. I have always believed that the first areas of blockchain technology must be finance and games. It is very easy to understand why finance. So, why games? Let’s think about it. Are all weapons and props exactly the NFT assets? Whether the points or gold coins in the games, they are very similar to tokens, aren’t they? All the characteristics of games are naturally adapted to the blockchain infrastructure. And games empowered with blockchain will have stronger financial attributes and stronger liquidity. The formation of Gamefi’s independent industrial ecology will be an inevitable result.
At present, most games on the market are issued by game companies. All game prop assets of users are the property of the companies, which is very unfair to users. It can be clearly seen from the outbreak of chain games this year that the voice of game assets belonging to users is getting higher and higher. Users’ awareness of asset ownership is also becoming stronger. Chain games will definitely be the trend in the future and will inevitably become an independent industrial ecology.
In addition, the currently popular NFT has a close relationship with Gamefi. NFT is not only an artwork, an avatar, but of course, it can also be a prop or a weapon. Although Gamefi is very popular at the moment, I still think it is just the beginning. With the improvement of the entire ecosystem such as chain game platforms, large-scale games, props NFTization, and guides, I believe that NFT and Gamefi will once again have another explosion.
Q3. What are the characteristics of GameNFT? What are its advantages compared with many other chain game platforms?
A3: Well. First of all, GameNFT is not just a game. What GameNFT will do is to build the entire chain game ecology, not only guides like YGG, but also a chain game ecology for game players, game developers, and to drive the development of the entire industry, such as Tencent’s WeGame in China, Steam — one of the world’s largest comprehensive digital distribution platforms. What we aim to do is the GameFI version of Steam!
In addition to the “Dungeon Economy” that we have already launched, “Tales of Heroes” that our users are familiar with will also begin to meet with you in the near future. And GameNFT has been under cooperation negotiation with dozens of games. The future game ecology is very promising.
Q4. What are the differences between GameNFT and Gala Games? What are GameNFT’s advantages compared with Gala Games? What would be the focus of GameNFT’s future development?
A4: We have to admit that both the Gala team and some investment teams behind it are currently ahead of GameNFT. Also, Gala has been listed in Binance on 13th September. However, as we all know, blockchain industry is an emerging industry, everyone has to start somewhere!
On the other hand, there is an essential difference between GameNFT and Gala. Gala is more about games and good at developing games, while we are the platform of different great games. Perhaps Gala will become the most awesome game on the GameNFT platform in the future, and GameNFT is a great platfrom including this great game.
I also said at the beginning that what we ultimately want to do is the Steam in blockchain. Not just Steam but with combination of unique characteristics of blockchain.
We started with the Gamefi game distribution platform, and will gradually expand the entire ecosystem including games, platforms, developers, guilds, social networks, funds, etc. Our ideal ecological territory will be very large, and it is being implemented step by step.
Moreover, the most important thing is that Gala has reached its climax in its current stage of project development, while GameNFT, who has more development room and more potential, is just beginning.
Q5. It’s heard that your first game “Dungeon Economy” is already online. Can you introduce the features of this game?
A5: Sure. “Dungeon Economy” is the world’s first decentralized economy sandbox game based on GAME+DEFI+NFT. Through the principles of economics, a perfect deflationary virtual world is simulated on smart contracts. In addition to liquidity mining, there are total six eras including weapon era, occupation era, trade era, war era, real estate era, and the finance era in the Dungeon. Each era has its own unique business profit model.
For example, the weapon era 1.1 version online adopts the monster-based system. the “monster” is the gold in the dungeon, the “hero” is the miner, the “weapon” is the pickaxe, and “hunting and killing monsters” is mining!
In the dungeon, in addition to GNFT as our most important consumption, output, and dividend token, dungeon economy exclusive token, Dungeons Economics（DEC), will be issued as an auxiliary for the GameFi ecological construction. We firmly believe that finally there will be a financial technology revolution.
Q6. How can ordinary users participate in this game? What can ordinary users gain from the game?
A6: On the whole, our first version of the weapon era is a process of obtaining GNFT and DEC through “liquidity mining” + “mosters hunting mining”. Now I will share with you how to maximize profits while playing to earn in this game.
Firstly, the first step of new players of the game is to mine GNFT by staking GNFT/BNB. I can see that the current ARR is 274.68%.
Secondly, to invite your friends to participate in liquidity mining. Whenever they get the GNFT and claim it, you will get 10% of their total DEC. For example, if your friend claims 100 GNFT one day, then you can get 10 DEC. The one who invited you can get 5 DEC. There is a prerequisite that you and your friends need to participate in liquidity mining. The DEC you get can be used to synthesize weapons for “monsters hunting” mining, of course, they can also be sold.
Thirdly, to visit the page of “Synthesis” and synthesize your first weapon with your 10 DEC. When you have weapons, you will not only get the hash rate for liquidity mining and you can also upgrade your weapon for monsters hunting mining to get more GNFT. For specific synthesis and upgrade weapon data and more introduction to DEC, here is a picture for your to check.
Of course, our gameplay is not just that. That is only for the weapon era. With more eras online and more games on-boarding, nothing is impossible on GameNFT.
Q7. How is GameNFT’s token economy model designed? What are the market operation methods of future tokens?
A7: Token allocation: GNFT total of 10 million pieces, 5% added liquidity, 10% airdrop, 15% team (24 month linear release after 6 months locked up), 17%GameNFT ecological equity reward, 43% game output (PlaytoEarn), 10%IDO sale.
In the whole token model, the team allocation of 15% is objective and fair. The team is locked up for 6 months and linearly released for 24 months. Through continuous release, the team’s enthusiasm for development is promoted and the evil of the project side is avoided.
It should be especially emphasized that 17% of project token is used for GameNFT ecological rights and interests reward, that is, 1.7 million GNFT. In the future, NFT price will easily lead to GameNFT metasemuniverse ecology “too fast growth”, especially under the high frequency demand of getting through between games and asset reuse. The 1.7 million GNFT tokens are likely to be insufficient for NFT eco-rights awards, resulting in inflated NFT values and a premium.
The distribution ratio of game output and NFT equity incentive is easy to become the weakness of the whole GameNFT token model. Therefore, in order to retain most of our users in the future, we will definitely add a better incentive mechanism to make up for it. GNFT is the core of the GameNFT platform ecosystem and will definitely have the greatest value. There will be a lot of surprises and money making opportunities with GNFT, which will not be disclosed to the public.
Q8. In the current state of blockchain development, what factors promote the current and future commercial value of GameNFT?
A8: I don’t need to say anything about the development of the big market, but from the perspective of commercial value, because the game is so expansibility, no matter the current blind box, AR/VR technology, NFT, Defi and chain game are closely related, no matter which sectors are hot in the next round, I believe that for GameNFT, It’s all very helpful.
Q9. Can you tell us what achievements and data GameNFT has achieved and what plans it has in the future?
A9: GameNFT is a distribution platform. We just launched our first game, and we have over ten games in development. We are already working on the second version of our official website.
In addition, we from August 18 IDO to now, nearly 8000 cash address, although the dimension in our industry is very small, but I think this is also our advantage, and at this stage the user benefits, because we are still in very early, there are a lot of our growth space, users have the opportunity to follow platform to grow together, Witness the rise of GameNFT.
In the long term, we want to build a globally active NFT game aggregation ecosystem: a platform where players can download games, buy games, review games, buy and sell digital NFT, participate in game mining, and participate with players around the world.
In the future, we will adopt the governance mechanism of “guild + distributed community” to solve development and operation problems fairly and efficiently. At the same time, we will also create a complete NFT game development package for more developers outside the industry and provide standard API interfaces for developers to integrate various functions into their own game products. And share development content through the GameNFT community.
What’s more, please check below John Augustin’s opinion to the frequently discussed questions by users.
Q1. What does the official want to say to users about the continuous decline of currency price?
A1: First of all, from the launch of the project to now, the official has never intervened in the market price. No matter whether it is up or down, the price of GNFT is always determined by supply and demand in the market. Secondly, from the launch of the project to now, the team has been focused on two aspects: the first is the upgrade of GameNFT platform and the later planning and deployment; the second is the cooperative promotion of the game project. Finally, as far as Gamefi is concerned, it is a relatively new concept, and our team has been exploring it. We want real gamers to pay attention to the progress of the project.
Q2. Has the project party sold the promised lock-up tokens?
A2: So far, except for IDO, the project party has not sold a single token. On September 24, we saw 100,000 GNFT transferred from a main address, because after the launch of our 1.2 version of “Weapon Monster”, we need to put part of the token into the contract for users to mine.
Q3. The traffic of old players is lost and the blood supply of new traffic is insufficient. Have you considered how to solve this bottleneck?
A3: this question we are considered, the loss of most of the old players, are started after the IDO, made money notes has the player, that the loss of this kind of player, is considered in our range, about the new traffic problems, because our platform is still at the fledgling stage, our next game there are a lot of cooperation, With each entry of the game, there will be a batch of new traffic, which we are not worried about.
Q4. Users are not interested in the game scene due to its lack of playability. Is there a problem with the development strength of the technical team?
A4: so, for a lot of old players know, that’s what we always speak our first game is called “hunting magic heroes”, this is a xx large game, but the development cycle is long, in the meantime, we combine market heat and user demand, temporary first to launch a simpler “underground economy” to meet the demand of our existing users, But at the same time, the development progress of Heroes of The Hunt has not been interrupted. In addition, we have many large and medium-sized chain games in the docking, the strength is completely not to worry about, everything is just the beginning.
Q5.GNFT increases circulation by pledging LP mining and battle modes, etc. What’s the future driving force?
A5:GNFT production through LP mining and battle mode is just the way one of GameNFT’s games, Dungeon Economy, is used. Dungeon Economy also has GNFT depletion, and on our platform, there will be more games, more consumption scenarios, and a GNFT of 10 million. Secondly, as a platform, we will continue to look for hot spots to empower GNFT. With the increase of our games and players, it is only a matter of time before the price increases.
That’s all for the AMA recap! Enjoy!