Recapitulation of APE TOKEN PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 20th May, 2021
Time: 16:00 UTC
The APE TOKEN PROJECT team was represented by @ApeMan2, @AshApetoken, @APE_BOY and @RealClarkey who judiciously shared with us detailed knowledge and information about APE TOKEN PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on APETOKEN?
ANS: Hi I'm Leigh, Prior to Ape Token, I have worked as a developer on a range of different projects, as a member of full-time staff and as a freelancer. I have been involved with the start-up of an energy drink within the ESports industry and with the development of Apps/SaaS.
With my experience and knowledge, I've saw a potential within the crypto market and ESports and wanted to put the two together to make ApeToken.net
We also have 3 more members within the Ape Studios team, Ashley Brazier, Jamie Manderson, Ryan Pacquettte who are involved with a handful of roles, ranging from Marketing to Tech Support.
We also have Community Support managers who are working on the Ape Token side of things:
Brianna Langman: Brie has a strong background in arts and design from working as a professional in the architecture industry. She holds a Bachelor of science in Interior Design and an Master of science in Marketing Analytics.
Joshua LaFlamme: With 7 years of Leadership Experience in Major Tech Companies, Josh has a history of delivering world class customer experiences. With a strong background in community relations, he has been revitalizing agent-client interactions with streamlined strategy and proven success.
Our team is still hiring and we're expanding as we grow within the crypto market place.
Hi I'm Ash, myself and the 4 founders of Ape Token go back over 12 years together, I come from an Engineering background previously serving 13 years in the Royal Air Force, I moved into Engineering management with prestigious UK car manufacture and then integrated in to application development for onsite systems and the building management systems. Now I work within the insurance industry specifically engineering inspection which enables me to integrate on a daily basis with a number of customers from varied backgrounds and transfer a wide and varied skill set I have acquired over a number of years into Ape studio.
Q2: Can you introduce APETOKEN, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: As most of you know, Ape token Ape Token is a frictionless, yield-generating contract which is designed to be used for staking and betting in eSports via our home brew app currently in development.
Basically, I was discussing how good it would be to bet crypto on esports. As a group of friends, we talk quite a lot and began some research. I found that there was nothing really in the way of an app that rewards holders and those betting so thought this is a solid niche market area. We did some initial market research on esports and found that even though it’s a multi-billion pound (GBP) industry it is still growing. This is where our focus came from.
We're currently growing a fantastic community with Ape Token and getting a lot of traction this way. Trust and confidence is being built with ourselves and holders, creating a strong set of confidence. We believe this type of community support is something that will set us far apart from any other company or betting applications currently out there.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our presale went great and we sold out in minutes. After that, we have had some great organic growth which all took place before any of our marketing, our listing on coingecko demonstrated our position early on that we have a strong use case and already being trust within the crypto world.
We survived a market crash 5 days after launch and have increased our holder numbers, we ensured we safe guarded our funding so no matter what happens within the crypto market as a whole, our planned projections go ahead and are met.
We have daily voice chats and inprumtu AMAs.
We didn’t expect the initial excitement and growth from our beginnings however in these next coming days the results of our hard work will begin to show in the way of:
Exchange listings, Influencer agreements, high quality production for our on going media exposure, Esports competitions, partnerships with agencies and publications.
Our main goal is the ESports crypto betting app, with the growth and progression of Ape Token we are projecting to have the app finished at an earlier time than projected. In the way of generating more funds and resources from Ape Token.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: I was slightly Premature answering this one my apologies, With regards to partnerships the beauty of crypto and Esports is that they are both growing markets, we are currently in talks with a up and coming games development company regarding potential future partnerships, at this moment we are unable to name the company at their request until and further details are finalised.
The prospect of partnering with a number of Esports streamers and high profile gamers is great as we know it would benefit both parties, we currently have a collaboration with EDIN Gaming who are hosting our first community based Call Of Duty Warzone Tournament with a price of $200 of $APET Ape Tokens for the winner, this event is being streamed on various platform such as Facebook and Twitch so even the non-gamers in our community can get involved.
In our infancy we have approached a number of Esports brands to promote our exposure and we are continuing to grow the interest with regards to further partnerships. Leigh has some fantastic connections from his time within the Esports Realm which we are looking to utilise where appropriate.
We also have a lot of partnerships signed with influencers within the crypto and ESports world which you guys will see in the coming days/weeks.
We really want to expand on our exposure within the gaming world, we have already started our “Project Competition”. This will be regular events hosted on Twitch/FB Gaming with streamers and influencers participating, with the end goal being more exposure and advertising for Ape Token.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $APE Token?
ANS: Ape Token’s contract utilises a static reward system with 10% of every transaction being split into 3 parts: 5% will be burnt forever, 4% will be distributed among current token holders and 1% will be sent to the marketing wallet. By now, you will have heard of the term ‘Static rewards’, our coin uses this concept which has been made popular by many other notable coins. It is used to help reward holders when early buyers sell their accumulated APY’s. It also encourages all holders to keep their tokens; as the more tokens you have, the more tokens you will gather via the ‘taxes’ of all tractions in the market.
ApeToken will tie into our eSports Betting App. All bets within the app will be with APET. Resulting in an ever-increasing market cap due to constant trades. All bets will incur a small fee, accumulating in the marketing wallet and distributed to holders. The utility of the eSports betting app will mean that ape token will have both long- and short-term gains in value. Holders will have big incentives to hold because of the mentioned tokenomics and, future, planned airdrops from the token accumulation.
2nd Segment: LIVE Questions
Q1: What steps have the team taken to ensure that there is an increase in the market cap of the APE token? And what will the fees incurred from all bets be used for?
ANS: In brief:
Constant marketing and exposure backed by aggressive marketing strategies and techniques. With a community based driven effort with support from the Ape Token team.
There will only be very minimal fees from the betting app - however this isn't set in stone. We may have it without fees, which ever is most beneficial to ApeToken and the team as a whole.
Q2: Regarding sponsored marketing efforts right now as I see these have yet to be implemented, what's immediately lined up right now against the funds being removed from the marketing wallet to keep the momentum from your successful launch going strong?
ANS: Marketing has already started however the bulk of our initial efforts will start to come into fruition in the coming days and weeks. Firstly they'll be influencer outreach, media buys on big platforms and paid advertising in way of ad networks.
Going forward we will expand on our marketing audience & demographics - this ties into our talks with exchanges in way of having an easier process of buying Ape Token, this is also why we've had some high quality videos being created for informercials and to be used on video platforms (twitch, YT etc).
Our marketing efforts initially will be "niche" and concentrated and from there expanding into other audiences as we grow.
Q3: Today's eSports betting market is growing more and more powerful than ever. So why have you decided to join this crowded market when there are currently many active projects and many projects are starting up?
What is the opportunity for ApeStudios to compete for market share of the Crypto eSports Betting pie?
ANS: Thank you for your question, we spent a lot of time before launch analyzing the market and what competition is out there. We are also avid cryptocurrency users also.
As reflection tokens are an increasingly popular form of DeFi cryptocurrency projects we identified an acute opportunity to merge both opportunities.
Not only will our app enable users to engage in eSports interactively via the betting system it will also reward supporters of the project via the 4% token reward per transaction.
We strongly believe that this will also give our investors an entry point into discovering eSports and the entertainment it brings.
This unique combination is what will make Ape Studios and our project shine amongst our competitors.
From our initial research there isn't many within the space we want to go in. There is only a handful of crypto based betting apps and they haven't really push their potential. With the recent success of community driven coins we wanted to take advantage of that coupled with our experience and knowledge of marketing.
We believe we will find a lot of success. Especially with the success of Ape Token as a crypto currency doing well, we can use that success and improve our development projections with bringing the release of our betting app forward.
Q4: What is your most ambitious goal with your project? Would you mind to share with us?
ANS: I’ve tried to provide as much information as possible to help with everyone’s questions.
Currently, our most ambitious goal on paper is releasing our betting app. That is our end goal and what we are striving to achieve. It will allow people, globally, to bet on any eSports match from anywhere in the world. It will allow holders to gain more capital purely by holding so you don’t need to be interested in gambling to be part of our family. You will earn from the constant use of other gamblers who use it.
We have also talked about/discussed creating and funding our own eSports gaming brand. This would include gaming peripherals, merchandise, leagues, competitions and of course an eSport team too, all funded and supported by ApeToken. That’s more of a personal goal for me as I think it would be cool. With the amount of money that is involved in the eSports industry I think it would be a smart move.
Q5: Transactions with APE token take 10% Tax, that's considered as a expensive transaction, will this % remain like that forever? How does this % of Tax benefit the holders?
ANS: With regards to the 10% Tax element we are able to adjust this further into the project when required, as we have not renounced the contract we are able link it in with the apps development which allows us improve the features of the token to benefit holders.
Currently with the 10% Tax, 5% is returned to the liquidity which enables it to increase via transactions, 4% is redistributed back across the holders increasing their holdings and 1% to the marketing wallet, this will enable a continual fund for marketing and development though the life of the project, once we are fully established we can look to remove this 1% to marketing wallet and potentially increase the return to holders to 5%.
Follow Us On Our Various Social Media Communities For More Update;
We host regular AMAs in our TG https://t.me/apetokenofficial
If anyone feels their question wasn't answered or would like to know more, you can ask these directly to the team.
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