AMA Recap — CryptoSteam
The session of AMA ( Ask Me Anything ) with CrptoSteam was conducted on 3rd Nov 2021 at 7:30 PM IST (2 PM UTC) and lasted for 1 hour.
I welcome you on behalf of Crypto players India team, hope you will enjoy today’s AMA session.
Very excited to have you with us.😊
Please tell us about yourself and the team working on CryptoSteam &
CryptoSteam is a decentralized, blockchain, game-publishing platform founded by Aaron Pulkka, former vice president of Activision Blizzard.
Traditional game publishing platforms such as the Steam and Epic stores, currently do not allow blockchain games. These centralized platforms operate on a business model that is very old-fashioned. These “walled gardens” also require game developers to make separate deals with these platforms and sometimes require exclusivity rights in order to give market share advantages to that publishing platform — none of which really benefits the average game player who just wants to play the game.
This traditional game publishing platform can not serve the needs and players of blockchain games — that’s we created CryptoSteam!
CryptoSteam uses governance tokens and NFT to create a shared foundational economic model for all of its games. Through the DAO organization, independent game developers and players become the managers of cryptosteam. The entire platform is decentralized while providing bookkeeping infrastructure for all revenues. The platform’s gameFi2.0 economic model is stable. The goal of CryptoSteam is to become the foundational infrastructure provider of the meta-universe, as well as a bridge to connect the various meta-universes.
DeDragon is the first gamefi 2.0 game to be released by CryptoSteam!
CryptoSteam sounds a bit similar to gala, Which has been on fire recently.
Yes, we and gala are positioned as chain game publishing platforms, however, the economic and business models are quite different. Gala’s economic model is to sell nodes and invite friends — Very simple. From our point of view, their deflation mechanism has weaknesses that will make Gala’s economic model unsustainable in the future. Crypto Steam’s economic model solves this and much more! We are the right combination of “play to earn” + Defi2.0. We draw on the economic model of Olympus. All of the income of the platform, including the sale of game NFT assets, transaction market fees, and in-game, consumed tokens, go to the DAO treasury. The treasury is controlled by agreement. When the governance token is lower than the set price, the treasury will begin repurchasing. Through the bond mechanism, the liquidity of the governance token will be repurchased from the market to maintain the stability of the token price. At the same time, in deDragon’s “play to earn” mechanisms, players develop, fight, and upgrade their NFTs to increase computing power, and then pledge to obtain governance tokens to empower the game’s NFT and increase value. Each game also has its own separate in-game token. This is the concept of gamefi2.0, “play to earn” + Defi2.0.
DeFi 2.0 + GameFi sounds a bit complicated, can you explain it to us?
Simply put, all revenue of the platform enters the treasury pool controlled by the contract agreement, and we begin repurchasing when the currency price is less than 1 U.S. dollar. Through the bond model, the liquidity that is in the possession of the users is repurchased to maintain transaction depth, and the repurchased LP also enters the national treasury. Due to the additional issuance mechanism of defi2.0, those who pledge governance tokens will get additional issuance income, so APY can reach more than 1000%, supported by funds from the national treasury, so that even if the currency price drops by 90%, it is still profitable. It is the (3, 3) theory in game theory. And every game on the platform will contribute to the treasury. We know that the combination of GameFi+DeFi2.0 has a greater ability to maximize the upside potential than a single DeFi2.0 model.
What are the empowerments of the circulating tokens in DeDragon? Will the economic mode be single token or multiple tokens?
Our system is a dual token model — governance tokens and circulation tokens. The governance token is the governance token of the entire Cryptosteam platform, which will run through every game on the platform. Things like DeDragon card breeding will also consume platform coins. Circulation tokens are in-game currency and are used for in-game transactions.
The acts of buying land and farms in Dedragon, opening treasure chests, upgrading, and breeding will all consume circulating tokens. Staking NFTs in the game will also produce circulation tokens. This is “Play to earn”, and you will find that governance tokens and circulation tokens have a positive relationship, that is to say, when governance tokens rise, the consumption demand of circulation tokens will also increase. Therefore, players are welcome to “play to earn” in our game. Playing games and getting circulating tokens can be converted into income!
Currently, there are countless NFT gaming projects, some of which have brought real value to the community. Could you articulate on the key competitive advantages of #DeDragon and what innovations make you believe that it will be successful both in the short term and long term?
Dedragon is a game that gives NFT value. By staking card (weight) + platform governance tokens, more CryptoSteam governance tokens can be obtained. Our economic model can make the price of governance tokens rise rapidly, attracting a large number of users, and at the same time Our governance tokens run through the entire CryptoSteam platform, and they are limited in number and will not cause inflation.
As NFT gaming is trending particularly those featuring a Play-to-Earn mechanism is clearly the new trend these days. “Dedragon” has really attractive features. Can you explain Play-to-Earn mechanism in more details & how users can generate passive income from this model?
Dedragon pays attention to both earn and play. Our first closed beta will be conducted on the 10th. You are invited to experience it.
In many gaming platform, users spend lots of time playing before they can earn. How easy will playing your game be for users who are not familiar with NFT-games? Are there some strategies you have implemented to make your game fun/easy, stress-free and not boring for users?
Stake platform coins + NFT cards to generate new governance tokens.
1 — Who founded CryptoSteam?
- A — Arya Justin
- B — Aaron Pulkka ✅
- C — Vitalik
2 — What is the relationship between CryptoSteam and Dedragon? ]
- A — DeDragon is the first gamefi 2.0 game to be released by CryptoSteam ✅
- B — CryptoSteam is the first gamefi 2.0 game to be released by DeDragon
3 — Why can the platform governance token maintain a minimum price of $1? ]
- A — We begin repurchasing when the currency price is less than 1 U.S. dollar. ✅
- B — Because we are a stable currency.
- C — There are a large number of people in the community buying to support the price.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Arya Justin from CryptoSteam. AMA Concluded at 8:30 pm IST.