On September 27th, Gametaverse hosted a Discord AMA with Ideaverse, a mobile game studio focusing on making great games in Web3. We’re glad to have Arthur, Co-founder and CEO of Ideaverse, join us and answer questions about their projects as well as the general GameFi market.

Here is a recap of this AMA session:

Session One: An environment that’s for the co-existence of both Web2 and 3

Q1: How do you view GameFi as a new category/subset of crypto or the blockchain system? What concept attracted you to join this sector in the first place?

For me, GameFi is not a new category with the hype from 2021. I believe gaming and entertainment will be always attached to a lot of concepts of the Web3 due to a lot of similarities in natural.

We are attached to this aspect because we believe the infrastructures of Web 3 will be the next gen of how gamers will be engaging with the game/developers.

We had been amazed by the early, direct communication and feedback from a much early stage from our players/ players-to-be. We believe that will be driving our way towards the game development and operation, and we believe the best game designer will actually from the gamers, power to the DAO is what we believed.

Q2: What major pain points or opportunities did you identify and decide to leverage with your project?

For us, as we had been developing mobile games from Web2, we know the barriers and what it takes to make great games - exciting but never easy. From what we have seen from GameFi is most are a transformation of DeFi products. For game side, we think it is important to back to basic - to make games that are fun to play and more than just play to earn. We are seeing more fellow developers are making great products, while we believe from where we are, we can create games that truly embracing Web3, fun to play and earn at the same time.

Q3: What are the unexpected obstacles you’ve encountered and insights/best practices you’ve learnt along the development and marketing process?

There are a few, I will highlight some.

First is the marketing logic, the whole marketing and promotion is totally different from where we are from. Web2 is more about ad-buy, conversion and retention. While Web3 is more about creating hypes, collabs, twitter and DC - so call community management, the community position is way more important than anything else.

The best practice that we have learn is how, as a Web2 developer, to integrate our gaming logic on chain, and also we need to think of the other side - the players. How we can also create a seamless touch for them in the potential transformation from Web2 to 3 - We have some amazing partnerships that really widen our vision and helped us with that.

Q4: What’s your business model and how’s it different/innovative compared with other projects in the same category?

Due to our background, we know the profit model from Web2 - the top up and in-game purchase and a common barrier from Web3 - the sustainable growth and values and utility of the tokens.

While in order to create an environment that’s for the co-existence of both Web2 and 3, we decided to contribute a major portion of the revenue we will create in the game from Web2 (in real USD - 20%) to support the DAO and the value support our tokens, I believe we are the first to doing this. And we believe it is what we fulfilling our commitment of building great games not only to earn but continues growth.

Also a trio tokens in correspondent to Web2/3 players, about how we adopt the tokenomics to both sides, will be a bit lengthy to extend here, while please refer to our white paper for details.

Q5: What’s your opinion on the current GameFi market? Bullish or bearish? Why?

Frankly bearish, as what we can see from the recent market downturn, but for us it is not a completely negative thing, as during the hype it is really difficult to distinguish great games/projects as there are just new to the market day to day.

We are not seeing this project in short term, one of our game HOTA had been developed for 18+ months, I personally think that it is a good timing for polishing our product, and let our gamers choose what is the game that they want to stick for long run.

Session Two: Tokenomics & Marketing Strategy

Q1: You say you want to create a blockchain-based game that users love and are interested in. However, is the Ideaverse games easy to understand for all types of players, especially those who are new to cryptocurrencies? What steps were taken to make this game suitable for everyone?

I see two questions, so I'll try to answer each briefly!

All IDV games will be released as free-to-play, not NFT or wallets required, it will run for sometime before we launch the sales of NFT - personal choice of whether player want to join as play and earn model. If they want to enjoy the game as free-to-play, we welcome that. 

So - no barriers or whatsoever, just like any mobile game to start with.

Q2: Many investors only care about the value of the coin. However, when most projects start listing, the value often drops seriously. Investors often have to suffer heavy losses. So you how do you prepare for this situation?

We are aware of that question. We have our main investors Metora Game invest 7M in the very beginning, and we have common values in terms of game making. So MG's investment will be locked for at least 2 years from IDO. And for the IDO, we will do a fair launch as no major investor will purchase the token in advance at major discount, everyone at the same start line, of course it is the market to decide the value of tokens, but from the launch side we aim to keep it fair for our investor and players.

Q3: What is the $IDVT token's functionality and tokenomics? Is staking a viable option for retaining investors and rewarding users in your project? What are your biggest hopes for the project you're working on right now in terms of product development?

$IDVT will be used both in game and governance of the DAO, in a deflation model. Staking will be also available, as an investment options for the studio, while honestly I will look more into the DAU (daily active users) than the staking tokens.

My hope will be, at some point after the launch of the play and earn/NFT, the environment will reach an equilibrium of Web2+3 players, with health and sustainable growth.

Q4: What are the strategies followed by you for promoting the project so that it reaches everywhere? Are you planning to use more third party platforms for effective promotion of the project other than the crowded platforms that you are utilizing at present?

True, we are promoting the project with a decentralized team. As culture and how gamers perceive a game could be very difference. For now, we are bonding with guilds, communities, marketers and influencers. We are creating our in-game content, as I feel, a game play video works 1000 times than text. Further step will be looking for offline events, say guilds gathering and walkthrough, in more developed community.

Please do stay tuned with our social media for more release and game content.

https://linktr.ee/Ideaverse.Games 

Q5: What is Ideaverse top priorities in 2022? Could you share some plans for the upcoming year? Which part of the project are you most focused on right now?

The launch of two games - FH and HOTA - website and trailers available at above link! As these are the two games for IDV brand in Web3 - definitely the top priority. Did I mention these are the first game of their series? NFT and tokens will be cross game and inter-playable in the same series of game. Say Fortune Heroes - monopoly and its second game Texas poker. These are also our plans and understanding of how to create values, and already in development for 2023 launch.

Session Three: Upcoming & Flagship Products

Q1: Can you tell us about how we can get our IDV Club Pass? What are the benefits of belonging to the IDV Club? What are the requirements to be a member of this club? Does this pass have any cost?

Thanks for reading and in order to get IDV Club Pass, you’ll need to participant in our community, be active and join our daily events, also we are in collab to great communities for WL giveaway, stay tuned in our DC.

Q2: What’s the current state of IDEAVERSE in terms of partnership and alliances with other projects? And most especially what are your plans for IDEAVERSE now that the bear market has been prolonged?

We are open to collab as long as it is meaningful and worth it, my DM is open if it is from IDV DC, any incoming proposal is welcome and we are also proactively looking for good partnerships.

Q3: Out of all the product development plans Ideaverse has including the upcoming, what do you consider as a flagship project - if there's any - and why so?

HOTA for now, from the trailer you can tell we have put great efforts towards the development of this game, I am most grateful we have got a great dev team, and they are really working to their 110% to make this happen.

Q4: In your official White Paper it says that two products will be launched in 2022, and at least two others in 2023. First, what difficulties did you find launching this year, when most of the major countries are experiencing a monetary crisis? Second, what is your best solution?

True, the bear marketing is hitting the crypto/NFT/GameFi side, but we are glad that we have MG supporting us, and we are also investing from our stable revenue from our established game from Web2, so I think we are in a good position in terms of liquidity. 

Q5: Is your project a community only for English speaking countries or for uses not of other languages?

Not only to English, from our DC you can tell we have set target for global market and more localization marketing and ambassador will be in place for other languages.

At last…

We’re proud of each and everyone in here, showing support and enthusiasm towards our project and Ideaverse. Hope you enjoy this recap! Follow us on social media to receive timely news, and stay tuned:

Twitter: twitter.com/GametaverseDAO

Youtube: www.youtube.com/channel/UCDOjqmiPOPAqQYSCUev-I0w

Discord: discord.gg/px9EY6zz2W

Telegram: t.me/gametaverse

About Gametaverse

Gametaverse aims to be the One-Stop GameFi Portal for everyone who wants start their gaming journey. Gametaverse provides users with an easy-to-use, real-time dashboard that aggregates all GameFi data and tracks the entire industry. It also selects individual games which you may want to closely monitor. Gametaverse keeps building customizable yield tracker for popular games, so players and guilds can track their NFT yields and game records.