Recapitulation of Bit Rivals PROJECT AMA event held at AMA LOVERS CLUB.

Date: Thursday, 13th January, 2022
Time: 14:00 UTC

The Bit Rivals PROJECT team was represented by @ItsFoxMcCloud and @Morpheuscrypto who judiciously shared with us detailed knowledge and information about Bit Rivals PROJECT.


✨✨QUESTION1: Can you please introduce yourselves and your background, also introduce the team working on BIT RIVALS?

ANS: Yeah so my name is Jamie, I am a front end developer and digital designer. I take care of everything design related at Bit Rivals and will be managing team that build the platform. I have around 13 years agency experience designing and building things like apps, website, saas platforms and more.

My name is Spencer - I hail from Ohio in the US and I’m one of the co founders of the project. I work in the aerospace industry so I have a lot of experience with data and tech. I’ve also been in the crypto space for about 4-5 years as an investor but have been gaining a lot of experience about blockchain tech.

✨✨QUESTION2: Can you introduce BIT RIVALS, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?

ANS: So this is a very broad question because Bit Rivals covers a lot of bases. At its most basic though, the Bit Rivals platform aims to be a much more inclusive way for gamers of all skill levels to earn through gaming.

I think the problem with a lot of other crypto gaming platforms is that they either don’t focus on games that gamers want to play (and instead force them to play these flash based NFT games) or cater too much to the professional player. That’s the space we’re trying to fill - building a platform for the average gamer

Right and the great thing about it is we are working with games that are already built and already have that match history data available.

✨✨QUESTION3: Any plans for expansion? What can you tell us about what’s to come in 2022 for BIT RIVALS?

ANS: So we have a pretty comprehensive road map on the website that details a lot of our plans for development. After presale we plan to release a more granular development roadmap. Shortly after launch we plan to release our DeFi system with staking and farming. Afterwards we will be working on the actual platform that we intend to build, with tournaments and the Play to Earn system and a whole host of features that haven't really before been seen in a blockchain application

We will also continue to develop the platform even after its release and always be working on new features

The sky is the limit with something like Bit Rivals, it's never really a complete product as we can just continuously add new games and new features to it.

There are also a lot of plans for marketing and hosted tournaments, especially when it comes to marketing to the gaming community, which is something not a lot of traditional crypto projects really have as an avenue

it's a massive community for us to tap into which has been otherwise not too utilized in the blockchain space.

✨✨Can you share your roadmap with us? Or give link to access it?

You can find it on our website or on our litepaper

✨✨QUESTION4: Can you briefly describe your PARTNERSHIPS and BACKERS so far?

ANS: One of the things we wanted to focus on for this project was truly making it a community-based project, so a lot of the growth and current community we have built so far has been truly grassroots. We want to maintain that throughout the project to really give it a feel of "for the players" and allow the community to take as much ownership of the project as we do. That said, we have a few private investors who have contributed a lot of the initial seed funding we have been using the fund the project so far and are currently in talks with a couple of investor groups and an incubator, but I don't want to make the details of those arrangements public quite yet until they are finalized

That is part of the reason why we are delegating the largest portion of the circulating supply to our presale - to give the average investor a true opportunity to take part in this project!

✨✨QUESTION5: Finally, before we conclude the introduction segment.
Let's talk about the governance tokens
Can you give an overview of the Tokenomics and Utility of $RIVAL tokens?

ANS: $RIVAL tokens come with a 1% tax on all transactions - that is the basis for our utility and ecosystem model. This is a lot lower than the 10% tax people are used to seeing on BSC and deflationary tokens, meaning that investors keep more of their money and we can enable the token to be used for utility purposes on our ecosystem. 100% of the funds for that tax go to the $RIVAL Reserve wallet, which will all be given back to gamers through tournament winnings, our Play to Earn rewards system, etc.

So with $RIVAL you will be able to do a whole host of things across the ecosystem - farm and stake through the DeFi system, pay tournament fees for tournaments that require a fee, buy and trade NFTs, etc.

The staking/liquidity farming is an important feature to note because if you look in the total distribution of tokens, 40% are being held in reserve for the staking and LP rewards. This is a substantial portion of tokens that will be distributed to users over time who agree to stake their tokens on the DeFi platform or add liquidity to the BNB-$RIVAL pair

Here is the token distribution model, which is on our website

2nd Segment: LIVE Questions

✨✨QUESTION1: In order to participate in the presale Coming up 12th Jan what are the levels for the presale runnings?
Secondly, for me to play&Earn how many $RIVAL tokens do I earn for playing and is there going to be reward if I play any of the game apart from the one I marked as favourite?

ANS: We will be holding one private presale trough DX Sale, here is the link to the get whitelisted with more details on the presale

✨✨QUESTION2: Rival ID is an important aspect of your ecosystem as it is a gateway.
Can you tell us how and where we can create our RIVAL ID.
And secondly, will there be a charge for creating one?

ANS: For the second part of the question, it is totally free to create your own Rival ID, which can be done on our website! If you share your unique referral link and get friends to sign up as well, you can both participate in our airdrop program and earn free $RIVAL.

🕹 Is Bit Rivals only recommended for gamers? Or is there some other way that allows users to still make money here even without playing games?

🕹 And Is it possible to create our own tournament with other players in Bit Rivals?

ANS: No there are other ways you can earn through the platform. For example, you can be paid to organise tournaments without necessarily competing in them.There is also staking and farming which allows none gamers to earn.

Yes it is totally possible to create your own tournaments. This is a big part of the arena, the ability to create level capped, private or public tournaments.

✨✨QUESTION4: In order to participate in the presale Coming up 12th Jan what are the levels for the presale runnings?
Secondly, for me to play&Earn how many $RIVAL tokens do I earn for playing and is there going to be reward if I play any of the game apart from the one I marked as favourite?

ANS: Sorry, I meant to answer the second part of this as well! We plan on enabling a whole list of games for the play to earn system, any that have a public facing API (and this includes most of the big ones, like COD, LoL, Apex, Rocket League, etc.) Players will earn Rival points for playing games, which then can be exchanged for a variety of things, including $RIVAL tokens, gift cards, raffles for gaming merchandise, etc.

✨✨QUESTION5: When players earn points by participating in tournaments, what can these points be used for? Better put, what are the utilities of Points earned during tournaments and other games? Finally, is there any way for $RIVAL token holders to earn passively within the Bit Rivals ecosystem?

ANS: When players compete in tournaments, they earn $RIVAL. Points are earned through the play to earn system which can then be either traded for $RIVAL or used within our ecosystem in zones such as the marketplace. You can use them to buy physical goods like computer components and peripherals to digital items like profile backgrounds, avatars and XP boosts.

✨✨QUESTION6: Bit Rivals rewards players for playing their Favorite Video games. Will all the games that will be available on Bit Rivals be built by the Bit Rivals team or its possible to feature games built by other projects? In the event that players couldn't find that favorite video games, Can they suggest such games to be implemented or community opinions and suggestions are not welcome?

ANS: To piggy-back off my previous answer - our system works by integrating the games that you already know and love to play, rather than forcing you to play any games that we developed ourselves. If the API or SDK exists for the game, we can integrate it. When we are building the platform, we intend to listen to community input to add the games that people are actually playing first and focus very heavily on what the community wants.

✨✨QUESTION7: 🙋🙋🙋
Can you tell us about the $RIVAL token smart contact ?
Is It done or in progress ?

ANS: We have a number of smart contracts to enable the ecosystem, especially for farming and staking. The token smart contract is already deployed and is audited by CertiK, the final report for which should be released in the near future - just waiting on them to finish up the PDF for us!

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