AMA Recap held on Satoshi Club on Dec 14, 2021
Date: Dec 14, 2021
Time: 13:00pm UTC
*Our investor, Plutus VC joined us for the AMA on Satoshi Club. Note that some questions are answered by them.
1st Segment: INTRODUCTION+Community Questions
Q: Could you please introduce yourself and tell us more about PolkaFantasy?
Thanks for the warmth welcome! Let me introduce myself and the team.
I am Alex, the CEO and Founder of PolkaFantasy.
PolkaFantasy is the first-ever Japanese ACG (animation, comic & game) focused NFT GameFi ecosystem.
This ecosystem include more than one play-to-earn games, NFT marketplace, NFT wallet, and even more game related services that we will announce. We have a huge vision: to build the best GameFi ecosystem in blockchain space.
We are quite confident that we can achieve this. I have been in blockchain industry for many years, and have been a gamer for decades. I always want to combine the best part of game and blockchain together to make revolution in game.
With the help of my team, which comprises ex-COO of Square Enix, ex-CEO of SNK, executive producer at TV Tokyo etc., we are excited to be able to deliver this exciting gamefi ecosystem to our community.
Q: How long were you working on PolkaFantasy? Why did you choose ACG for your ecosystem?
We have been working on PolkaFantasy since the spring 2021, well before the rise of GameFi bloom, because our team is a strong believer of good blockchain games.
I think most of you have once time in your life enjoyed a Japanese animation, comic, or game. But when we look around the crypto space, we will be surprised to find that most of the NFT ecosystem only focus on crypto & western arts.
Despite there are fun fan communities for Japanese ACG (animation, comic. game) culture globally, ecosystem serving this sector is obviously missing. And a successful ecosystem can definitely capitalize on this huge market.
This inspires the whole concept of PolkaFantasy.
Q1: I read from your website that PLUTUSVC crypto fund invest in Pre-seed and Pre-IDO phases for tokens and/or equity. And that you can also invest up to USD$ 5 million in any projects for equity and with an average size of $500,000.00 for tokens. Do you have any amount restrictions for investing on projects? What’s the maximum amount of money or digital assets you invest on projects? I read also that PLUTUSVC is an active fund with a minimum of 3 projects investment each month. Do you have plans of increasing projects investments per month? How can a user be an investor with PLUSTUSVC? @Modrumz120
Ben|Plutus VC: Thank you for the question. PLUTUSVC is a 200M venture fund based in HK, and we are very glad to be one of the early supporters of PolkaFantasy!
Regarding you question, we are very flexible in terms of ticket size, it’s just as described on our website that we can invest in a single project for any amount up to 5 million US. We seek investment opportunities across all geographical regions and verticals in crypto industry.
Recently, we have been focusing more on Gamfi and Metaverse as we believe they are the next big opportunities especially when more big gaming developers start to adopt such concept. We believe also that the potential of NFT is huge, the relationship of crypto currency and NFT is like their real world comparable as currency and goods, that’s why NFT is still in their infancy.
Number of investments per month really depends of market condition, I believe most of the crypto VCs tend to invest more while it’s in bull market.
They can contact me directly here on TG @bens . 1 We are always open for discussion !
One of the directions is that we focus the most on gamefi projects for the moment, but for sure we also seek deals on other verticals.
We are currently building our own community @tenxclub, where we will share exclusive project insight and market analysis and promote our portfolio companies and any projects that we believe is with high potential! In the future, we plan to give away PRIVATE SALE ALLOCATION of our selected investments, welcome everyone to join our community.
Q. Why did you choose PolkaFantasy?
Ben|Plutus VC: We believe PolkaFantasy has a truly capable team that is not only familiar with the crypto industry but also knows exactly their goal i.e. building an excellent Japanese ACG game.
And what’s amazing is that PolkaFantasy always realises their goal !
Q2: PolkaFantasy NFT marketplace recently went live and I read that users can several NFT related activities in this marketplace including minting/creating NFTs, buying/selling and earning royalties on NFTs sold. Can you explain how a creator can mint NFT on your marketplace? And since you said this is the first Japanese themed marketplace, does it mean that NFT creations admitted into this marketplace will be limited to capture this preference? Also, creators are allowed to set a royalty of 5 to 15% so that whenever their NFTs are sold, they can earn royalty. Why is the royalty percentage within this range? What will happen if a creator set a royalty percentage outside this range and such content are sold? Will it mean that such creator will only be paid royalty within this range? And is the amount of time royalty can be earned limited or can NFT creators continue to earn it as many times such NFTs are sold? @Highpee
Our marketplace has a grand launch thanks to the overwhelming support from the community.
PolkaFantasy Marketplace is built with one vision in mind: to be the BEST NFT marketplace for ACGP (animation, comic, game, pop) culture high-end NFT lovers. Therefore, we have a lot of plans to make it enjoyable to use.
Right now, the marketplace supports Ethereum network. It will soon integrate Polygon and BSC so that users can enjoy low gas-fee NFT minting.
Any creators can create artwork NFT on PolkaFantasy marketplace. And we try to make it agnostic with a strong focus on ACGP aspect.
As we value freedom and want to make it flexible for creators, creators can set the royalty at a value comfortable to them for all future secondary sales.
For detailed information of how the marketplace work, you can refer to this link: https://marketplace.polkafantasy.com/en/help-center
We are confident that PolkaFantasy marketplace will soon become one of the go-to NFT marketplaces for NFT lovers. Our team has plan to improve many aspects of the marketplace and you will soon see great improvement in terms of usability and user experience.
Q. when approximately we can expect integration Polygon and BSC networks?
We are already doing testing on the system. We expect Polygon and BSC launching in Jan.
Q. How many NFTs were already created using your marketplace?
We have successfully sold 140 NFT on day 1. And we believe it’s just a start. With Polygon and BSC integration, revamp of the UI and UX, we foresee a big jump very soon in activity in the NFT marketplace.
The marketplace is still in Beta. In fact, we are so excited that it will attract many NFT creators when we move out of beta. I think community will love it much!
Q. do you have any censorship on marketplace?
We value freedom of expression. At the same time, we need to monitor the marketplace so that it’s user-friendly.
Q3: With emphasis on PolkaFantasy metaverse lands, you conducted your second land sales 2 months back, and it was only opened to previous participants of your first land sales. Can you briefly shed some light on this past event, how was the overall experience, and why did you opt for such a condition with the land sales? May we also know if you have plans to conduct similar land sales in the future, and how would you make this event open to all? Finally, since the Lands were sold according to the 3 major tiers of; Standard, S Rank, SS Rank, can you briefly elaborate on the basic characteristics and features of these land tiers, what type of rarity and resources do they offer to their prospective owners? Can you also let us know how much of these different land tiers are available? @victorogb
Thanks for this excellent question.
We have a successful land sale awhile back and it was a tremendously exciting experience for our team and the community. We had rounds of land sale on our own platform and a couple of launchpads. This offers a wide range of options for $XP holders and community to participate.
We have 5 Tiers of land in total: Common, Rare, Epic, Legendary and Mythical. Each tier has different utilities, Common has the standard usage such as clan battle, farming, build houses etc, whereas the higher tiers have better features and utilities than the lower ones.
Apart from that, each tier also includes 3 ranks of land: Standard has 1 tile of land, S has 4 tiles and SS has 9 tiles. The differences between the ranks are not just the sizes but also the benefits each contain. By holding the lands, users have to benefits of using in multiple games and even partner games!
Our plan is to build multiple games in the future. Just as gamers expect AAA game studio will develop many great games in long run. Therefore, owning a land in PolkaFantasy means that you can having lands not for only 1 game, but for the whole ecosystem with many games!
We are working on the land distribution now, and hopefully they will be available to claim in Jan. We will tweet about it as soon as we have more details. It takes time because we really want to build this project for long term success for our community, and we strongly believe you will agree as you see how our project grow in future.
Q. What is your future plan regarding to land sale? Are you will be selling lands on regular basis? i mean maybe once in 3 months or something like this?
We won’t carry out another land sale for at least 6 months so as to maximize the land value for our early investors. Of course, future land sale will be available but it won’t be too soon.
We believe community support is very important. Thus we are always listening to their voice and try to improve on daily basis. Our team love our community, thus we are working days and nights to build the BEST GameFi ecosystem for our community. And we believe our community will love this land system
Q4: PolkaFantasy Aims to eliminate centralization with implementation of their decentralized system But as per the PolkaFantasy XP Token Contract Audit, i noted that the admin account has the ability to pause the current token contract and also has a mint function that allows authorized account to mint more tokens into circulation (while being capped).I understand the need of the privileged functions for contract operation and maintenance but at the same time the extra power to the owner may also be a counter-party risk to the contract users. Can you elaborate on these privileges of the admin accounts? Why did you decide to keeps these privileges with the admin account especially the mint function? Are decisions regarding the project going to be decided by only the Polka fantasy team? How do plan to win trust of investors with so much privileges still with the Project Team? @iceVermithraxx
I love this question because it shows that you have a deep understanding of blockchain.
First of all, I am a strong believer of blockchain. Therefore we want to create an ecosystem that is decentralized. At the same time, I believe security is utmost important to community. Therefore, sometimes we need to make hard decision to balance our belief and security for our community.
In PolkaFantasy, the minting address is controlled by multi-sig, thus there is no individual that has the authority to mint the token by will. And the pause function is there to protect the safety of the fund. If you look closely, you will understand that we have minted just enough token so that the risk of exposure was kept minimum. No one has the power to mint and transfer fund without the team’s knowing.
As an upcoming blockchain game, there are a lot of factors which may affect the final game tokenomics. Thus our model allow the maximum flexibility to maximise the play-ability for our community. By not minting the token too early, this will ensure that our game tokenomics are well designed and will run for long.
Our vision is to build games which are popular for YEARS, not months! Therefore, we put much focus on the long term success. Security is one core factor which is essential here. With a close collaboration and decentralization of minting power within the team, we can capitalize on the strength of decentralization and minimal centralization. The best of both worlds.
Q. can you tell us about in-game utility of XP token? is it have any governance functions as well, outside of the game?
As for XP token, it is a true governance token. Some examples of its usage:
1. Vote your favorite artists to give them more exposure.
2. Get discount of NFTs with $XP
3. As a reward to platform users.
4.Use it as in-game currency.
5.As fuel to make some amazing things in the marketplace and games (we cannot disclose any further at this moment)
In fact, we have a lot of utilities of $XP up the sleeves. And this will create a huge demand for $XP in short/long term.
Imagine $XP is an ecosystem token. You can see that all ecosystem token will go up in long run. Like many centralized exchange token.
We look up to Axie Infinity (last Nov, their token was just about $0.12), and want to make huge success and rewards for our community. So, your support is important to us, and we believe we can be successful together.
Q5: Your platform allows users to make real use of NFTs in games for battle and interact with each other, so could you share with us if you have divided your NFTs into classes with specific stats and attributes? How can we guide ourselves on what kind of NFTs to buy to be successful in the game?
This is an interesting question.
We have basically divided the NFTs into 4 rarity now: Common, Rare, Epic, and Legendary.
We would love to integrate a class/job system in future though it’s too early to talk about it. In fact, we will have a lootbox sale very soon which focus on our upcoming Heroes. These characters are designed by leading artists and will illustrate the highest quality that PolkaFantasy is looking for.
In future, we will have a dedicated marketplace for in-game NFT. It will be a core component in our GameFi ecosystem. On one hand, $XP utility will be much expanded in this way; and other gamefi projects will be able to join hands with us to create a holistic GameFi ecosystem that we made.
To give you one perspective, imagine it is an exchange ecosystem focusing on amazing games! Like Binance for Game. We are making that happen!
Q6: PolkaFantasy will be having a LootBox Event soon according to your roadmap for Phase 2.So when are we expecting to see this event? Can you elaborate more on what this LootBoxes are? What are the contents players can find in the LootBoxes and with what benefits? Will this LootBoxes be earned every time a player level up in their games or will they have to purchase them? Please kindly provide more details of your LootBox Event. @Cheriemike
We will have our lootbox sale very soon. In less than a month if everything goes smooth (we are building a lot of things for this event)
The lootbox is a very unique event because it will include our new characters as you can imagine. And it will be an event for our beloved $XP holders. I can’t disclose too much here yet, but this event will see huge use for $XP. And I can nearly say it’s an event exclusively for $XP.
We want to make sure our events are always unique, so community will find one-time release of some items as well. Going onwards, our team is expanding on utilities of $XP on many aspects and we believe 2022 will be a great year for both PolkaFantasy and $XP!!
2nd Segment: LIVE Questions
Q1: Is there any chance you guys would host tournaments for players to compete against each other for different kind if rewards such as tokens or NFTs ?
We will definitely look into the possibility of e-sport! I am a huge fan of games. In fact, I have been a gamer for more than 3 decades, and I know most of the game mechanism by hearts. So e-sport is always in my DNA cos I play many competitive games.
As a holistic game ecosystem, e-sport will be an essential part. And PolkaFantasy will surely be happy to organize exciting events for our beloved users!
Q2: You point out that PolkaFantasy wallets will unlock the full potential of each NFT collection, but what do you mean by “full potential”, is it only because of the cross-chain functionality it has, or will it have many more innovative features?
NFT is still in early stage in development. No one has full knowledge of what NFTs are capable of.
As a NFT and game enthusiast, I believe we have many things which can be done with NFT in future. With our full NFT ecosystem, we strive to explore all the possibilities of NFTs. And you will see some with our NFTs in near future. PolkaFantasy aims to provide a unique experience that you’ve never imagined before!
Q3: I already have NFT from PolkaFantasy and sell some of them in OPENSEA, but why the my NFT of PolkaFantasy not showing in OPENSEA? is there any problem?
Love this question and thanks for giving us opportunities to answer.
We are aware that some NFTs are not showing the correct data in Opensea as it has a unique way to find NFTs. I think there are two potential issues here:
1. Auction NFT: Some of our recent auctioned NFTs are not showing and we have already contacted OpenSea to investigate the issue. It seems that they are visible on wallet like MetaMask. We will keep community posted about the issue.
2. PF NFT: We are looking into some cases that the NFTs are not showing on the platform. We will working with our tech team. More update will be available.
Q4: Could you explain all Heroes that PolkaFantasy have? Also there are 4 new Heroes, what the unique each heroes?
We are so many heroes upcoming. With our talented art team, we are going to release many new characters in near future. You will soon see our new character Sonia which is one of my favourite (probably my most favorite one!!) She is so gorgeous that you won’t believe how high we aim for our artwork.
Q5: How can I invest in the PolkaFantasy project? For those who are not early investors, is your token available on any exchange or when will it be listed?
We are available on Uniswap and MEXC. Soon we will be have our BSC Bridge so that you can buy it on PancakeSwap as well.
As we are going to make a series of announcement soon, and with our upcoming lootbox event, we believe there will be good demand for $XP in short and mid-term. And with our beta game launch in around April, we strongly believe we will set a very solid foundation for long-term success of $XP.
As a very passionate team of game and experienced team of blockchain, we are confident that PolkaFantasy & $XP will be something you love and proud to be part of it. 2022 will shine for PolkaFantasy and we can’t wait to share more with you!
Q6: Have you been able to “make your dream that they can buy an NFT from you just by sending your QR codes to any user”? PolkaFantasy team, can you tell us about the “NFT WALLET” development phase?
The wallet will be available soon in Jan. We are doing some testing on Polygon network.
Q7: Most games released on block chain have errors and bug issues which can affect the player experience and they start to lose interest, how will POLKA FANTASY game deal with this issues?
I totally see what you see.
In PolkaFantasy, quality is very important to us. As I said many times, we are building games that will last for years! Thus we want to take time to make sure everything is correct. And one thing you can rest assure is that, we keep improving. We are a team that will admit mistakes and try to improve on daily basis. We won’t say we know all, but we are willing to learn all we can. Thus we are spending effort to make sure the game come out with nice quality.
We are in fact working with a lot of GREAT game developers/producer to make PolkaFantasy great. And we are not re-skinning existing games, we make it from scratch!
We will soon announce something about our game. Stay tuned!!
Q8: What does the official team think about the recent XP price drop? What are the contingency measures? The plan for XP before the game goes live?
I love this question because it gives me opportunities to illustrate what we think.
As an investor myself on many other project, price drop always looks disheartening. However, I believe a success of project cannot be always measured by token price at certain moment.
But as the project owner, our team has the responsibility to make token price healthy, despite sometimes it may be totally out of our influence.
Currently, we are ramping up our marketing effort much. For instance, we will host an event with the biggest Japan crypto media in Ginza In coming 24th & 25th. A lot of marketing effort will be done during the event to maximize PolkaFantasy exposure. And globally we are working with both crypto & non-crypto media as well to increase exposure.
In addition, we are in fact having a LOT of collaboration discussion. These will be surely a great opportunities for new comer to learn about PolkaFantasy. Some collaboration will be quite interesting and huge, and we really wait to disclose it sooner.
And as the CEO and founder of PolkaFantasy, I always to learn more what community suggest to make PolkaFantasy greater! Therefore, you can also give our team advise to move the project in awesome direction. I believe, by building the project together with strong belief, we can success together!
Q9: On the roadmap, the beta release is scheduled for April.
Please tell us why you are doing the rootbox in December when there is no immediate use for the character and XP is not integrated with polygon and BSC.
That’s an interesting question and I really love to give some ideas of our decision making process.
Lootbox has been in plan for long but personally I was hesitate about the timing initially because our beta game will be released in April. However, there are 2 factors that made me want to release the lootbox in Dec or Jan (after BSC integration).
1. With our new characters, many community members would love to have our NFTs sooner.
2. Lootbox will be a great opportunities for $XP holders to enjoy using $XP.
But as you have observed. we will release BSC bridge in Jan. Thus our team is still discussing the possibility of how to faciliate the lootbox event in the most ideal form.
Q10: Right now there are so much new project with GameFi theme, if possible can you mention what are the strength from POLKAFANTASY, what is the unique that other GameFi don’t have?
This is an amazing question.
PolkaFantasy is very unique in one aspect. Our team has a strong connection in game and we are experienced in game industry. Our team is from Square Enix, SNK, and many top tier games/media companies. Therefore, we are going to build a holistic game ecosystem which will have several (or even a lot!) play-to-earn games. This allow huge flexibility for us to utilize the NFTs in an unseen way, And users can interact with others like never before.
For instance, users are not confined to interaction in one game. We have NFT marketplace, games and even some secret stuffs in future to allow users immersed themselves in our Fantasy world.
In PolkaFantasy, we are a team who knows both blockchain and game, but not a blockchain which never build games. Therefore, it really sets us apart from many other projects as we are a truly game/blockchain dev which fully understand and love what we are doing.
PolkaFantasy is the world’s first Japanese ACG-dedicated blockchain ecosystem, with its unique NFT marketplace, NFT wallet and multiverse games.
We bring only the top-notched artwork to PolkaFantasy NFT Marketplace where Japanese artists and creators can connect with supporters. We deliver the best immersive experience to users that they can discover, trade, and interact with any digital collectibles and game assets.
Within the holistic ecosystem, PolkaFantasy is a metaverse with mystical GameFi and play-to-earn mechanisms. We created a never-before-seen land system where lands can be used across the magical realms of PolkaFantasy. With further gaming details, PolkaFantasy is going to change the current dynamics of GameFi and bring forth a new future to the world of blockchain.
Follow PolkaFantasy for the latest news:
Twitter (Global): https://twitter.com/PolkaFantasy
Twitter (Japan): https://twitter.com/PolkaFantasyJP
Twitter (Chinese): https://twitter.com/PolkaFantasyCN
Telegram Announcement: https://t.me/PolkaFantasyOfficial
Telegram Channel (Global): https://t.me/PolkaFantasyEN
Telegram Channel (Japan): https://t.me/PolkaFantasyJP
Telegram Channel (Chinese): https://t.me/PolkaFantasyCN
Telegram Channel (Vietnam): https://t.me/PolkaFantasyVN
Telegram Channel (Thai): https://t.me/PolkaFantasyTH
Telegram Channel (Indonesia): https://t.me/PolkaFantasyID
Blog (Japan): https://note.com/polkafantasy