AMA Recap — CoinFantasy
The session of AMA ( Ask Me Anything ) with CoinFantasy was conducted on 20 May 2022 at 5:30 PM IST (1 PM UTC) and lasted for 1:30 hours.
Harish Karthik Gunalan from CoinFantasy has joined us for this AMA session.
Please Introduce yourself and Coinfantasy?
This is Harishkarthik Gunalan, I am the Co-Founder & CEO of CoinFantasy. I have a master’s degree from the University of Illinois at Urbana-Champaign. I have 9+ years of experience in the software industry and have worked in several Fortune 500 companies and overseen diverse teams in Sweden, UAE, USA, and India. Besides, I have experience building several blockchain Dapps.
CoinFantasy is the World’s first Play-2-Earn crypto fantasy trading game. It is unique NO-LOSS gameplay in which users earn money just by playing more games on the platform. CoinFantasy aims to gamify crypto markets through our multiple categories of games, thus acting as a Layer-2 platform on top of the primary markets
Can you elaborate more about CoinFantasy to the community?
CoinFantasy aims to create an ecosystem addressing the shortcomings of the current crypto ecosystem. Some of the solutions are:
- Blockchain-Enabled Instant Settlement
- Decentralized Platform
- Gamification of crypto
- Community-Driven DAO
- Smart Credit System
Please tell us more about your partners?
Sure, we do have a great list of partners. Some of our partners are:
👉 Reef chain
👉 The Husl
👉 Phoenix DAO
👉 Strip Finance
Besides, we have got grants from:
IndiDAO, Polygon, and DARQ Labs
What makes Coinfantasy unique and different from the competitors?
There are several advantages of using CoinFantasy, I would like to shortlist a few advantages here 👀:
- Gamification of crypto — Trying to make crypto as fun
- Risk-free trading for users
- Fantasy gaming Tournament to make it engaging
- Play-2-Learn trading
- Learn-2-Earn rewards
- NFTs for exclusive access to financial hubs in metaverse.
Can you share the story behind the project?
We were observing that globally users were investing in crypto/stocks without understanding the financial implications. Especially in the last year when the Robinhood saga happened with Doge coin is a perfect example in which users from the traditional space investing without understanding the volatility of the market that was our eureka moment for creating a platform in which users can get the exposure to the primary assets without any losses.
CoinFantasy offers a unique NO LOSS gameplay in which users earn as they play more games.
Can you give us a glimpse of how to play the game?
Users will be able to join the game in 3 simple steps 🎮
Step 1: JOIN the contest you wish to participate
— Lockup the amount in CoinFantasy token to play (can unstake the tokens anytime after the game)
Step 2: SELECT a lineup of crypto-stocks that would rise in value
— Be very strategic to build the lineup of crypto
Step 3: WIN real money by just playing the game
— User with the maximum points wins the game pool
For the beta version of the game, users will be able to get free credits 🪙 for playing the game. They will be able to experience the games without any hassles and will be able to win CF tokens as rewards
What are the different categories of games in Coin Fantasy?
Coinfantasy would be launching different categories of games:
Player vs Player
• Players compete to outsmart their opponents to win rewards & level up
• PvP based fantasy gaming where users compete & level up on the platform
Player vs Squad
• Player joins any game pool and competes against a group to outsmart and win rewards
• Several Championship/ Tournaments will be held from time to time that has huge prize rewards
Player vs House
• Play against the House to level up & win rewards
• Users can learn about the platform by playing against the house and winning prizes
What are the different types of NFTs and their utilities?
NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated. NFTs can help represent real-world items like artwork 🖼 and real estate 🏢
At Coinfantasy, as users level up in the platform 🆙 , they will be able to mint unique NFTs that could be used in-game for additional points and also, get exclusive APY incentives for each level.
Besides, users will be able to get exclusive access CoinFantasy Metaverse using NFTs
Does Coinfantasy have any plans for liquidity mining?
There will be several liquidity mining programs after the launch🚀, with huge incentives for users staking the funds for a longer duration. Besides, there will be a lot of Defi elements that will be enabled in later phases such as lending, borrowing, etc.
In addition to the staking APY rewards, users would get equivalent credits to play the game & win more rewards 🎉🎉
What staking benefits may a user get?
There are multiple ways in which users are incentivized for being a good actors in the system 🏆.
There are multiple reward categories such as the game rewards, APY reward, Gaming APY reward, Streak reward, and more ♾
The main reason behind all these rewards is to make sure the CF community🏛 is going to be incentivized for all the contributions to the ecosystem and users would just have to play the game and win rewards 💪🏼
Which one of these aspects is important for you?
There are several killer features ♨️, if I have to shortlist key 3️⃣ features — Fantasy Trading 💱, NFT collectible cards 🎴 & Metaverse clubs 👾 will make CoinFantasy the most unique platform in the crypto space.
Coin Fantasy is a community-driven initiative that uses the cFantasy token, but could you tell me more about this token and how vital it is to the project’s ecosystem? Do you have any plans to establish a DAO model, given that CoinFantasy is centred on the community?
Yes, we are fully community-driven using the $cFantasy — Governance🎟& Utility token🎫. Unlike other projects, there is a lot of customization in creating/participating in games on our platform that are decided by the community such as the duration of the games, entry fee, points system, etc. Holding cFantasy tokens also entail you having additional votes during the voting process📥 . Besides, there are a lot of discounts on fees for holding cFantasy tokens. Soon CoinFantasy will evolve into a DAO model in which all aspects will be driven by the community. Stay Tuned!
NUFAIRA THANT HA
As a newbie to crypto and the gaming world, I sometimes have a hard time understanding how GameFi projects work. So, Is CoinFantasy suitable for Non-crypto players? Do you just want to attract experienced crypto players or can newbies like me participate too?@cryptonation91
Our main aim is to take crypto adoption to the masses. The marketing has been very targeted reaching several demographics with ambassadors assigned to these regions. We will be posting the updates in several languages. Our game is very user-friendly and simple similar to any other fantasy game such as Draftkings/ Dream11 etc, so anyone can understand it easily. Besides, our main target is to bring the next billion users to crypto.
What are the steps to become part of your community, and start earning? Where can we buy, where can we register? These look like really awesome projects!
We are preparing ourselves for the launch 🚀 and as a pre-launch event, we will be whitelisting users on the SIGNUP portal. Stay tuned to our social handles for more updates and exciting news 🔜. Users are privileged to get early access to the games & rewards. Free CREDITS of 💰100 credits would also be credited to the user account to join the Game Play
Could you please provide some progress on your Roadmap and what results Collateral has achieved so far ? And any sneak peek into 2022 plans for your Project?
We are super excited about the Beta product launch that’s happening at the end of May 🚀 We are thrilled to launch the beta version of the METAVERSE by the end of this year. In the later phases, we have plans to launch the leaderboard, NFT marketplace etc📊. Stay tuned in all our channels to get much more details on our milestones🏁
Cantika Meira Hartoni
Where can we get information about your project? do you have social media accounts and websites?
Yes, stay tuned on our social handles:
Telegram Group: https://t.me/CoinFantasy1
Telegram Announcement: https://t.me/CoinFantasy_ann
What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project secure most similar contender in the market today in terms of scalability, security, features, and adaptability?
CFT’s total supply is going to be 500million 🤑 and out of which 30% is going to be the reward pool for our community 🤝🏻. The most important part of our Tokenomics is that we have a token with limited supply along with deflationary elements as well 💹 When the entire globe is trying to fight inflation we feel CFT as a token will be one main option that the community could bank upon.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest HarishKarthik from CoinFantasy. AMA Concluded at 7 pm IST.
CryptoPlayers is one of the oldest & largest crypto communities in India since early 2017. We are a group of 25000+ telegram members and growing.