On August 19, 2022 at 20:00 UTC+8, Gametaverse held a live AMA with CHILL, a new M2E star, on our Discord to answer questions from our community. The co-founder of CHILL Neil joined our discussion and provided insights on the current GameFi market as well as some key updates on the development journey, recent progress, tokenomics, vision, etc. of their project.
Here is a recap of this epic AMA session:
Session One: CHILL & the GameFi Landscape
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?
GameFi is a huge progress of the crypto world, it started to put token/NFT to be functional, however many GameFi has become a simply money making tool, and there are lot of fraud in this field, the app like StepN introduced MovetoEarn which will finally lead people to have a better life while making the earning of tokens.
However, StepN is focus on running, in the whole fitness part we haven’t get a project in the market, so we are here.
Q2: What major pain points or opportunities did you identify and decide to leverage with your project?
Chill is a Web3 Indoor AI-Fitness App.
Chill provides users with challenging fitness tasks. We adopted AI visual technology to identify and guide users to conduct effective exercise, and provide them with tokens for doing so. At the same time, users can use Chill to share their web 3.0 fitness life and socialize with other users.
Our Vision: To be the bridge between Web 2.0 and Web 3.0 users
The Chill team hopes to attract more people to enter the world of Web3.0 through the model of Move-to-Earn, combined with our own strengths, to educate traditional web2.0 users to understand tokens and NFT, and inject new blood to the blockchain industry.
Q3: What are the unexpected obstacles you’ve encountered and insights/best practices you’ve learnt along the development and marketing process?
The Market. We have actually developed this app for 6 months from Q1, since we adopted AI vision technology, it's a huge development and cost compare to other projects, we have faced the funding problem, but now we have resolved the seed funding at 400,000 USDT! And team has made through it, now we are about finish the app and launch! Also YC capital, Sequoia Capital and Tencent investment are reaching us for the possible collaborations.
Q4: What’s your business model and how’s it different/innovative compared with other projects in the same category?
We are the first Move2Earn project that adopted AI Vision technology, which made us the first app able to make the fitness to earn including pushup, jumping jack etc. to be true.
Also, we have get Chill app majorly developed, will be estimated test in end of this month and officially online at mid of sept.
In the marketing part, we have gather over 30000 emails that wanted to participate in the app, we will send download and using guidance when we officially launching the app.
Q5: What’s your opinion on the current GameFi market? Bullish or bearish? Why?
Personally I will say the whole crypto market might be keeping bearish due to the overall global downturn, especially when many governments facing financial problems like now, the harsher blockchain industry censoring and control will be applied for government facilities to prevent cash flow out from current economy ecosystem, also they will try to absorb funds back from crypto to actual world economy.
It’s my personal judgment for next year market, however, the worse market will stimulate people to find better, safer, more stable product to invest in crypto, so a good project, which I believe we are will have more chances to attract attentions.
Session Two: Marketing, Utilities & Tokenomics
Q1: Marketing is a central element for every project so that everyone knows the potential that a project, can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor, to your project and keep them in long term?
We are having an overall marketing plan to build up community metrics, including global partners and volunteers, also we will push our app in global gyms, transferring the traditional fitness scenario become our battlefield, that's all we are doing now, and we have already see the outcomes.
Beside we will have an presskit promotion, kol kit promotion, lanchpad collaborations and so on upcoming.
Q2: What will be their major utilities that can make them magnificent that everyone wants and make holder proud? What does #chillweb3 have for NFTs? How would they function in App’s ecosystem?
We have two types of tokens: SDD and XDD and 3 types of NFTs: NFT Watch, NFT CHIP and NFT CPU.
User have our watch are able to take tasks to earn tokens, better watch will lead better rewards, to get better watch, except buy from market, user could also consume chips and cpu to update better watch.
A better watch will consume a giant amount of SDD, and other NFTs, which will show the holder's priority!
Q3: Could you please share detailed token metrics of $SDD? Is there any requirements to participate in the IDO sale of SDD to contribute over $1M? What are your next big steps for expansion and product upgrade in the next quarter of 2022?
SDD is our in-wallet token, it will be launch on Pancakeswap. SDD will be used to consume for minting better watch.
About XDD, let me show the tokenomics.
XDD Total: 5,000,000,000 XDD
XDD LOCK
Private 16%: 12 months lock
Adviser 2%: 24 months lock
Team 15%: 24 Months lock
Ecology 20%
Launchpad 7%
Market 5%
Adviser:2%
AI-Fitness&Earn: 35%
NFT Watch 30% of Sales will be used as XDD Buy Back.
At last…
We’re proud of each and everyone in here, showing support and enthusiasm towards our project and CHILL, a New #M2E star. 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.