AMA Recap 404 Daily Crypto with GameToken
Hello 404 Daily Crypto Community
On 14th April 2021, GameToken conducted an AMA in the 404 Daily Crypto. Our guest is GameToken Team.
Lots of questions as usual from the Community about GameToken progress. The GameToken team took part in a very interesting AMA session which included Project introduction, Questions from Twitter and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into GameToken.
Let’s take a look at the most interesting points of our conversation.
📍Session 1 » Project Introduction
Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?
GameToken CaptainCorporate: I am captaincorporate, people usually call me Cap for short. I have entered the crypto market back in 2013 and loved it ever since, never built a project of mine own before but I always worked in the ecosystem. I have been full crypto for the past 5 years working between projects and gaining experience meanwhile.
We are a group of people that work together, if I wanted to list all of them at once I would have to take up an hour at least, but we are a group that met back in 2017 early days before the bull run happened and we have been together ever since. We realized we had a lot of crypto experience between each other and if we used the earnings we made from crypto and if we used our talents and skills and experience we gained during this period.
@GameMasterFi is our developer and chief technology officer, he has been the hardest worker of us all. He has been working since inception of the idea to this day, and he is still working right now for making the project even better.
Can you introduce GameToken Finance to our community? and where did GameToken Finance come from?
GameToken CaptainCorporate: Gametoken is a yield farm project on BSC that is focused on Gaming world. Our aim is to create a decentralized token that would be at the hands of the investors while also providing a use case for those investors to have a reason for spending and eventually burning that token.
First step of this is our GameMarket project, in GameMarket people will be capable of spending their GME and buying all the latest games, these will be sourced from the cheapest and biggest game key provider companies in the world, and we will be providing it even cheaper making GameMarket the cheapest place to buy game products in the world. In return the GME you spend on buying these items will be burned and this will create a scarcity that will increase the value of the token.
Second part is GameDollar (GMD), GMD is our Algo Stable Token project which will happen in the coming weeks and people will have to burn GME in order to get GMD for starters, which will create a demand for GME once again, and GMD will be used for purchasing games as well which would make the supply scarce once again. Third aspect will be lottery, people will be capable of spending their GME to purchase lottery tickets, and %10 of those purchases will be burned while %90 will go towards the winners. So we are not like any other Yield Farm you have seen because we are ambitious with how many ways you could spend your GME and make it more valuable and more wanted by the publc.
Remember, these are all things we put on top of regular farming/pools because that will be used by investors as well but it is common so we didn’t even mention that, with all of these combined we will be capable of providing many reasons for people to keep buying GME and that is why we believe it will be very valuable.
Please tell us the biggest milestone you have ever achieved and also your future milestone?
GameToken CaptainCorporate: Our biggest accomplishment so far has been our community, we are very proud that we have reached over 350 people already on our telegram and have over 400 people on twitter just from our first 2 days. We believe that community and people who believe in the project are the biggest part of what we are doing.
Without everyones hand on board, we wouldn’t be able to even dream of doing this, its all the people, big investors, small investors, not invested people, everyone who shown any interest towards our project made this possible.
Technically speaking our biggest achievement was our breakthrough on building a system where people could spend GME and get the games they want, we had the idea 4 months ago, but we weren’t sure if we could do it technically, the day we made the test work was a day of celebration at our offices. We hope to share with that same job to every GME holder in the near future after presale ends. Done.
Please give us a sneak peak of your Roadmap?
GameToken CaptainCorporate: You can see our roadmap in our website https://gametoken.finance everything planned and on the works right now listed there. We are publishing our Yield Farming very soon when the presale ends you will be capable of start farming and getting free games at app.gametoken.finance and thats the thing we are most proud of, and there will be more things like starting our own Vault to bring all of BSC together in one place for us, to help people farm in one place without having the need to go individually to each place.
We do have some secrets that we are not ready to share with the public yet that we believe you guys will love a lot, I will give you a hint, its regarding the lottery and the reward requires the pandemic to be over. It will be the biggest surprise we have seen in BSC market so far, and emotionally very rewarding for us to be able to do that as well. But to keep it short, you can read the roadmap for all the concrete definite aims we have right now that we can share.
How does GameToken Finance intend to increase the value, utility and liquidity of GameToken Finance token. thus producing a natural increase in price of the token?
GameToken CaptainCorporate: As we have mentioned before, there is a burning mechanism that is unlike any other project you have seen so far. Obviously we have to be honest about this part of the project and say that its all about the investors and gamers at that point, we will be selling games cheaper than anywhere else in the world and thats why we believe there will be a big demand there, and we believe if games sold on the market for 40–50–60 even as much as 70 dollars end up being 10–20 dollars on our GameMarket that means the demand will be sky high and inventory will usually dry up very quickly.
However this depends on the buyers as well, as long as community supports the project and buys these cheap games, or suggest their friends who like to play games to purchase their games here (which would be cheaper so it would be more affordable) then we can achieve anything together and grow GME price to very high levels. Because of the constant burning mechanisms all around the project, we will be burning non-stop the more people buy games, and this will make GME not have a big supply number, and this will cause the price to soar if people want to keep buying games.
Can you share the latest developments and further plans of GameToken Finance?
GameToken CaptainCorporate: Our most recent project was the Yield Farm that we have started our presale https://app.bounce.finance/fixed-swap/5241 and you can see itself https://app.gametoken.finance . This is the one that started and farming will be starting on 17th as well.
Next one is our GameMarket which will start very soon, and meanwhile there will be many giveaways and gifts to all GME holders, it will be free but it will require you to have GME on your account from the presale, we like to reward our investors and thank them this way. When GameMarket starts that will be a constant work, it will sell games and be the main anchor of our project.
After that we will have GameDollar which will be our Algo Stable Token to create another demand and burning mechanism together which will allow people who are unsure about GME price to keep their money on GMD that will be pegged to 1 dollar and still take advantage of all the things our project offers. Lastly we have GameVault which will be a project based on beefy where everyone can list their LP pairs and can farm them all in one place.
What makes GameToken Finance better than its competitors?
GameToken CaptainCorporate: Interestingly, we do not technically have any competitors, thats the best part about gametoken.finance, how? There are too many yield farm projects, some very good like pancakeswap which we all love and use, but there are so many rug pulled or even just plain bad ones as well.
The difference is, GameToken is not just a yield farm project, its a yield farm project, a game store project, an Algo Stable Token project, a swap project, a vault project all at once. Even though some of them could be found together in some big projects, there is none so far that brought decentralized finance into real life and purchase something from other sectors.
We are building a project that will allow you to buy games cheaper than anywhere else in the world, which will in return mean that GME will increase in value from this proposition and there is no other project that offers a real life value like we offer.
📍Session 2 » Question from Twitter
Question from Twitter @NancyWh25195880
Do you have any plans to attract non-crypto investors to cryption who are still not in the crypto world specially as a new project entering to crypto. What are the plans to increase awareness about cryption around in non-crypto space?
GameToken CaptainCorporate: Gaming world and Crypto world are not far from each other, we know that there are many gamers in the crypto world and we would love to bring all of them into our project and build a very strong community. However we know that there are gamers out there in the world who are not interested in crypto just yet, most gamers are more technologically savy than non-gamers, which is why even if they are not in crypto, we believe if they hear that they could purchase games at gametoken.finance cheaper than anywhere else in the world, they will at least give it a try and see if they can get the games, since there will be products as cheap as 99 cents to games as high as 40–50 dollars depending on the project, people who are skeptical about crypto and our project will be capable of using only 99 cents to test, and when they see that it works, I am sure we could become their go to place for purchasing anything related to gaming.
Question from Twitter @EKasapidi
Many projects fail because they do not understand their target audience and their customer. And so I want to ask: Who is the most ideal customer for your product?
GameToken CaptainCorporate: Just as I mentioned before, the most ideal customer for us is a person who likes the crypto space and also likes to play games. We are a project based around the idea of cheaper games to provide everyone with affordable costs.
We know these tames games can become very costly, from new computers to new consoles and new and higher prices of games, while they are all going very high, fiat currencies and salaries do not go as high as game prices, so it becomes harder to purchase games as much as we did back when we were kids. So our ideal investor should be someone who would like to invest, earn money, and spend his farmed profits on all the games and game related products.
Obviously investors could also very well make a profit because while gamers will have an advantage of cheaper games, investors will have an advantage of investing into the first project with real life applications.
Question from Twitter @Braven990
Token burn” is beneficial for any project, in being able to control the number of token circulation and to provide greater incentives to investors. Does your great project have a plan about token burn?
GameToken CaptainCorporate: Our Burn mechanism works in many different ways. From the burning of %10 from the farming, to lottery purchases getting %10 burn we have all the modern solutions to farming you have already seen. We have one more big method, which is our GameMarket that I have mentioned before. The burning mechanism there works like this ; One block rewards 1 GME, in 100 blocks there will be 100 GME.
90 GME goes to farmers, and 10 will be going to dev fund. 8 GME will be burnt directly there, and 2 GME will be used for purchasing more game keys. Key will be sold for 1.6 to create a demand and 1.6 GME will be taken from the farmers. We will burn 0.4 GME again, and repurchase games with the reamining 1.2 GME.
This way we have managed to burn 8.4 GME from each 100 GME, but there is another 1.2 GME that we use to buy games, which will be taken from the market and %25 will be burned again and this will keep happening until its over, which means that 8.4 Game will be more and more from that same 100 GME constantly, creating an everlasting burn mechanism that will burn all of it as long as people keep buying games with their GME.
Question from Twitter @yoriLipB
What makes GameToken different from other blockchain projects? Does GameToken any advantages to compete with previous strong development and community projects?
GameToken CaptainCorporate: Because we cater to 2.7 billion people. That is the most important number that we have focused on, obviously we accept that we will not be able to reach to every single one of them, but that is the targeted audience we have and that is a vast market space.
There are 2.7 billion people who play games in this world, from simple mobile games to complex tournament level games there are many different games and different type of players, when you offer %10 to %50 cheaper prices for all these games and products of these games, you are reaching a vast community. From the mother that buys diamonds for their candy crash game to hardcore fortnite player trying to own every skin, we are capable of offering something for all of them, which creates the demand all by itself.
Question from Twitter @antonio50221026
Your project will own an algorithmic stablecoin that will be approximately $1. Could you elaborate on how this tool would work? What would be the benefits that the platform will obtain by using this type of technology?
GameToken CaptainCorporate: Main purpose of our Algo Stable Token to create a token that will be pegged to 1$ and allow people to purchase games with ease without the worry of volatile changes, this will be mainly attributed towards gamers who are also investors, so that they could both make money while buying games with ease.
GameShare will be the share part of our Algo Stable Token which will be bought and could be locked into boardroom to get more GMD in the future, so you will have a chance to lock your money, and farm GMD to be used for free games for life. This is the beauty of our project, we will be offering you chance to both not have an inflated supply for a token while also providing you with a chance to get free games.
📍 Session 3 » Community Questions (Live AMA)
Telegram User @tatarrama
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
GameToken CaptainCorporate: Currenly the presale amount for our token is 10$. This is a base price that will eventually get higher because we believe burn mechanism attributed towards GameMarket will allow us to burn tokens constantly, this will result with price going higher as long as gamers keep buying games from us. This will help a lot of the investors who are not interested in gaming as well. An investor could simply join, buy GME and put it on Farm and just reap the benefits they will gain from gamers as well.
Telegram User @dungpro123
How secured is GameToken’s smart contracts code, did you ever audit it via any third party? What has been the biggest challenge you have faced in your project development?
GameToken CaptainCorporate: Currently we are in preliminary talks with some Audit companies, it will shared this monday and the results will be made public. We have worked with some of the most known people in their fields to make sure we do not have any problems in our code. And having the advantage of being a pancakeswap fork allowed us to start at an already high level of security.
Telegram User @quangkaka1
Partnerships are so important to development, can you tell us what GemToken partners you have now and in the future?
GameToken CaptainCorporate:We are in talks with some gaming companies to have wider marketing towards gamers in the world. This will allow us to get both crypto people and also non-crypto gamers into our GameMarket project. An ad that says we are the cheapest place to buy games will go a long way. You can expect things in the gaming world from twitch to tournaments to even bigger news. All in good time.
Telegram User @Dogleae
IS it possible for people who are new to crypto to join your project?
GameToken CaptainCorporate: Good thing about our project is that, there is no low limit. You could buy 1 cent (even less) worth of GME token and it will help you gain something from it. From free games to lottery to farming project, you can profit from using GME with any amount you want. On our presale we have a promotion as well, if you purchase, even the lowest amount of BNB from the presale, on next sunday we are starting a big giveaway.
This means you can buy 0.000001 worth of GME and you will still have a chance to get many different games that you want. You do not have to pay for them, just purchasing GME and holding it will allow you to earn free rewards every month starting from next week.
Telegram User @Jalraj
Token burn is important for investors, do you have any plan burn or buy pack?
GameToken CaptainCorporate: As we mentioned before, we are planning on a burning mechanism that would burn every single token in the market if people keep buying games from our GameMarket. Which means the token will increasingly create its own demand and will be valued very high. It all depends on you, the community, to use GameMarket to purchase cheapest games in the world, the more you buy, the higher GME price will be. There will be no buyback because we will be using GameMarket as buyback already.