AMA Recap — Monsta Party
The session of AMA ( Ask Me Anything ) with Monsta Party was conducted on 3rd Nov 2021 at 5:30 PM IST (12 PM UTC) and lasted for 1:30 hours.
ADMIN ROUND
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.😊
Jonty|Host
Please tell us about yourself and the team working on Monsta Party?
Byron
So first of all, the Monsta Party project is built by the same people who built the Cake Monster protocol. Cake Monster (https://www.coingecko.com/en/coins/cake-monster)is the DeFi protocol ($MONSTA) and Monsta Party is a Play-2-Earn NFT side project. Monsta Party is underpinned by the Cake Monster protocol
Most of the original team are a collection of like-minded people from a community called DeFi Labs, headed by Dr Mantis. DeFi Labs was basically created to experiment with DeFi, in order to advance progress for Decentralised Finance. DeFi will shape the future of finance, and DeFi Labs was created to play a small part in it. Obviously, this kind of thinking brought together like-minded individuals.. and the community has a reputation for being good, honest and trustworthy people. So a group of us got together to build Cake Monster, which we launched 6 months ago. Along way, we attracted more like-minded individuals, and so we have a strong team of 15–20 people, all great people. Regarding myself, I’m one of the core team members from Cake Monster, and I’ve been acting as project manager (more or less) for Monsta Party.
Jonty|Host
How to play and earn? What is PXP and how to earn PXP faster?
Byron
So the project is called “Monsta Party” And your Monsta NFTs earn Party Points. Party Points = PXP When you mint your NFT you are given an egg. It’ll look like this… Randomly the egg will hatch into a Party Monsta 😄. You will be given a random PXP. Immediately you’ll be able to feed your Monsta.. every feed increases your PXP. PXP allows you to earn dividends. The higher your PXP, the more dividends you earn. It is proportional.
Jonty|Host
How many times can we feed the Monsta?
Byron
12 times per day. But this is also random. So let’s say you feed now. You then might be able to feed 13 minutes later. Then the next feed might be 3 hours 27 minutes later. It’s random. But you’ll be able to do it 12 times a day. This is phase 1 for increasing PXP. We have integrated it into the Oasis Metaverse also. There you will be able to participate in quests and other things to increase PXP. Building games is also on the “roadmap” where PXP can be earned too. We want to integrate into all metaverses!
Jonty|Host
How many PXP is required to give birth to Gen — 1?
Byron
10000! This isn’t definite yet, but most probably, when you reach 10,000 PXP you will also get a seat on the board of directors for the DAO. We have lots of plans.. but crypto is so dynamic those plans can change quite quickly. We are fluid and give the market what it wants. BTW, the Oasis metaverse integration — you will have a separate 48px sprite that represents your NFT 🙂 And your equivalent 48px sprite for the Oasis metaverse will look like this.
Jonty|Host
What kind of NFT problems Monsta Party focusing on? Also share your Roadmap with our community.
Byron
Firstly, we’re creating NFTs that give people yield. So by holding a Monsta Party NFT people will earn $MONSTA. And we reward people with higher PXP with a greater share of the $MONSTA dividends. There are so many 10,000 Generative Art NFT projects out there.. but they’re just images. They’re only valuable if someone else wants to buy them. And thus are usually very illiquid. This won’t be the case with Monsta Party as people can actually earn $MONSTA with them. And they are backed by the Cake Monster protocol… which is the most sophisticated financial instrument in DeFi. It is the only deflationary protocol that CANNOT implode. All others will eventually. So we were trying to solve the problem of 10000 NFTs that have no utility, probably all of which (aside from maybe a couple of projects) will go to 0 eventually. Roadmap…
Crypto/DeFi/NFTs/etc is so dynamic that we don’t like to be entirely rigid with our future.
But things that are very likely to happen are:
- DAO (Gen-1 Party Monstas sit on the board of directors)
- Games
- Metaverse integrations
We might also build our own metaverse, but tbh, I think it is much more interesting to integrate into other metaverses. So you would have your Monsta character, and be able to roam around all metaverses, collecting and earning $MONSTA and any other tokens. This is preferable for many reasons… as people can go to the metaverse they enjoy the most and spend time there with their own Monsta character. This is one version of your character, used only in Oasis. Other metaverse integrations would give you a character in a different style.
Jonty|Host
When is the launch?
Byron
The launch is on November 9. At 19:00 UTC.
We are actually launching this project from open space.
Meaning… We are sending 3 launch vehicles into space, over 40,000 metres above the earth. The Monsta Party NFTs will be displayed there for the first time. This will be the First Generative Art NFT Project in Space.
A world’s first. A piece of history. Don’t miss it! It’ll be streamed on Twitter and Youtube 🙂.
TWITTER ROUND
MonstaParty represent a fun way to acquire NFT, but how can we the users be certain that these NFT will really have a significant value in the market, how can you show us that the effort, time and capital invested in your gaming platform will be rewarded?
Byron
Well, first of all, holding the NFT earns you $MONSTA dividends.
This is good alone. But also, as the Cake Monster protocol gets bigger and strengthens, those dividends become more valuable. Also.. as per my answer about the roadmap: we’re going to be integrating with many other metaverses, all of which will allow you to participate in their quests etc, allowing you to further earn $MONSTA and their own native tokens. Party Monstas will traverse all the metaverses. All metaverses that we integrate with 😄 — obviously not every single one 🙂.
Game NFT Blockchain and Metaverse has just emerged with great potential for future development. MonstaParty ecosystem is in its early stages. Obviously, it is full of opportunities. So how can a new player/investor participate in early investment on MonstaParty?
Byron
Participate in the minting event on November 9 at 19:00 UTC
Buy the NFTs on the open market afterwards.
We will be listing on Pancake Swap’s NFT marketplace
And yes, we are in VERY VERY early stages of NFTs and metaverses.
Until recently the most popular NFT projects were… jpegs
With no utility! Imagine what it’ll be like in a couple of years. This was an essential step in NFT progress of course. But it’s like comparing BTC’s blockchain with something like DOT or Elrond.
Things progress dramatically But it’s safe to say that investing in NFTs with utility that integrates with metaverses, is a decent idea. Metaverses will be the common way everyone in crypto (and the general world) will interact in the future. There will be countless metaverses. Our belief is that it is wise to be able to traverse them.
In addition to the 10,000 NFT collection to play and win, Will Monsta Party have a special NFT come out? I mean, a rare or unique NFT? Can we buy or sell Monsta Party NFT on the big marketplaces in the future?
Byron
Yes, they will be on Pancake Swap NFT marketplace, and likely Treasureland. When you reach 10,000 PXP you’ll get a new special NFT. It’s likely there’ll be some NFT airdrops in future too, but let’s keep that secret 😉.
COMMUNITY ROUND
Lucy Chan
How do you plan to spread awareness about your project in different countries where English is not good? Do you plan to develop many different communities such as Vietnam, Indonesia, Korea. about your project so that they can easily communicate and understand your project?
Byron
Check out the Monsta Party website: https://monsta.party. It’s translated into 9 languages and we keep adding more. The application will also be translated into the same languages. We want to cater to the entire international community.
Adiell
Im a software engineer and also a big fan of Monsta Party so How do I become one of the Monsta Party ? What requirements does Monsta Party have for startups when they enroll in Monsta Party incubation program?
Byron
Contact one of the Cake Monster mods and we’ll give you a trial: https://t.me/cakemnstr
Thâỳ lộc đây
CORONAVIRUSES (COVID-19) is currently a worldwide epidemic. All parties are concerned. Many blockchain industry figures contributed to this disaster. How does the your project react to it??
Byron
We bring happiness to people’s lives.. the exact opposite of what government’s are doing with their excessive restrictions 😄
Melissa Gillette
PARTNERSHIP & COLLABORATIONS are the backbone in making every project more widespread. Can you list some of ur partners with us?
Byron
So far…
- Starter
- AB de Villiers
- ProjectOasis
- Chainlink
- Pancake Swap
- Metavest
- Crypto Banter.
YeuPet
Why should users choose Monsta Party? Can you name 3 advantages for users to decide to choose Monsta Party?
Byron
1. The World’s FIRST Generative Art NFT Project in Space
2. Backed by the most sophisticated protocol in DeFi, Cake Monster
3. The cutest meme monster in crypto.
Luka Kagamine
Where did you get the inspiration for this unique project idea? What plans does “ Monsta Party’ have to build trust and build collaboration in the community? And what is your strategy for attracting users from outside the crypto space?
Byron
We want to bring utility to NFTs. Dividends are essential. Metaverses are the future. It’s better traverse them all than to be confined to only one.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Byron from Monsta Party. AMA Concluded at 7 pm IST.
