Recapitulation of Itchiro Games AMA event held at AMA LOVERS CLUB
Date: Thursday, 3rd December, 2020
Time: 18:00 UTC
The Itchiro Games team was represented by @defimario. He judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on Itchiro Games project
Ans : Hi all, my name is Mario, and I'm currently leading external relations/product at Itchiro Games. This account (@defimario) is also used by the rest of the devs.
A bit about us - we're a group of game developers mostly from Korea and Japan. We've all been working in the gaming space for atleast 12-15 years. We also happen to be DeFi enthusiasts.
We found that there was missing infrastructure for NFTs and game studios in the DeFi space and so we set ourselves to build infrastructure for both gamers and indie game studios.
Our main areas of focus at the moment are:
- Infrastructure (Wallet, NFT Marketplace)
- Games (CoinVille)
- Sound Economics (mining, staking)
Q2 : Can you introduce the Itchiro Games project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : For sure:
Itchiro Games aims to be an ecosystem for blockchain-based games.
We realized early on the industry had not developed the tools necessary for indie game studios to build assets (characters, items, etc) on a blockchain.
In our intro post, we've set ourselves to do the following:
Roadmap: ➡️ Pre-sale ➡️ Farm ➡️ NFT Marketplace ➡️ NFT Mobile Wallet
Currently we are here:
Roadmap: ➡️ Pre-sale ➡️ Farm 📍 NFT Marketplace ➡️ NFT Mobile Wallet
We also plan on releasing several games along the way, starting first with CoinVille.
Over time we're looking to see our communtiy shift from mainly DeFi NFT/gaming enthusiasts to mainly gamers who happen to be interested in DeFi too
To add to that, we’re looking to ship our NFT Marketplace over the coming days, we had a bit of a delay but we’re still on time for first week of August
Q3 : Awesome, itchiro now in presale?
Ans : Nope, not exactly, we’re setting up a fairmint bonding curve with Enoki as we’re the main builders behind CoinVille, but the plan is raise funds to build the game where participants can come in with either JEM, ENOKI or SPORE
We’re planning on releasing all the info this weekend with them so stay tuned
Q4 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : The base is mentioned here, but to quickly recap:
Original Roadmap: ➡️ Pre-sale ➡️ Farm ➡️ NFT Marketplace ➡️ NFT Mobile Wallet
Today: ➡️ Pre-sale ➡️ Farm 📍 NFT Marketplace ➡️ NFT Mobile Wallet
- NFT Marketplace (ETA 1st week of December)
- New CEX listing (ETA Dec)
- NFT Wallet (ETA late-Dec)
- Partnerships (continuously)
CoinVille is aiming for late Dec release or early January, Enoki is working on the blockchain portion of it while we’re working on the actual iOS and Android code
We've recently partnered with $FUD Finance and we're currently in talks with:
But we're also working on anno0uncing a partnership with a pretty big DAO and some DeFi protocols that are pretty big too before the launch of CoinVille
2nd Segment: TWITTER QUESTIONS
Q1 : In your last update, Itchiro mentioned that your team had successfully minted 26,386.6829 JEM tokens in addition to the multisig. Did this increase in tokens negatively affect the value of the currency? Will you be minting more tokens in the future?
Ans : 30,000 JEM is the maximum supply forever of JEM, we're adding governance features soon on a custom snapshot page for us, that way the community can decide on treasury decisions re the community wallet
But no, there's no way we can mint more tokens as the minting_role on the contract was revoked
The increase did not negatively affect the price no, because it never went into circulation :)
Q2 : Lots of angel investors available in ama lovers club, and many projects on the high-DeFi end has turned out to be a bad investment for us. How can you guarantee our investment is secured and yielding with ITCHIRO ?
Ans : TLDR
Nobody can promise anything haha. But so far I have reasons to think JEM has been a pretty good investment so far.
Presale price was ~ 120 USD, currently bouncing between 150 and 160 USD
We’ve designed the distribution of $JEM 💎 in such way where LP mining is not a a high risk, high rewarding investment — but a tool for community members to support Itchiro’s game ecosystem, while their $JEM 💎 appreciates over time.
- Shinobi game release
- Top CEX listing
- CoinVille release
- NFT Marketplace
- NFT Wallet
- Continuous collaboration and development of DeFi games with other projects (eg. $MEME or $FUD game, or $ENOKI game)
Q3 : How did Itchiro set out as a team of old school game developers with a desire to create great value in the game industry? What types of tools and applications are you aiming to develop?
Ans : Long story short - when we first got into crypto, we were hooked by 2 things NFTs and composability, I believe it was EIP 998, in any case, it was super interesting as you could create specific relationships between these tokens
HOWEVER - there weren't any easy to deploy tools for indie game studios like ours (Itchiro) to simply download a package, import some function and run the code autonomously on a frontend
That said, we realized its more important in the beginning to have basic infrastructure for gamers (NFT Wallets, marketplaces) and once that infrastructure is build, indie studio could leverage tools that help them manage the lifecycle of NFTs (ming, trade, burn).
Q4 : NFT airdrops for the top 200 $JEM holders, is there a sort of dashboard we can see the top 200, so we know if we can buy more $JEM?
Ans : Short answer, check this: https://etherscan.io/token/0x21cf09BC065082478Dcc9ccB5fd215A978Dc8d86#balances
We are going to being a marketing campaign very soon to promote the $FUD airdrop
Q5 : What do you think is the main advantage of developing a game platform, in the DeFi world and in the blockchain? And why not, continue with the traditional methods known so far?
Ans : Adoption. Lets look at CoinVille for a moment.
Everyone knows how to play FarmVille, it was the most played game in FaceBook history.
Imagine playing it with real money.
And its quite simple actually. We're currently working the graphics and basic game logic for MMPORG, and all we gotta do from the backend is build simple Graph endpoints for depositing, claiming and withdrawing LP tokens for farmers - the best thing is you can use any wallet!
3rd Segment: LIVE QUESTIONS
Q1 : - When is the Itchiro Games very own NFT marketplace going to be released and what is the status of the Shinobi beta release, has the game been validated and cleared by the Google play store team yet?
- Can you explain the details of your collaboration with degen studio the project behind Don’t Rug and $FUD Finance?
Ans : Great questions, very informational
- NFT Marketplace ETA Week 1 of December, so over next coming days
- Google Play store approved, waiting for Apple, we're making them public as soon as Apple approves
- $FUD will trade their NFT cards on our DEX, they're also developing an custom Itchiro card (SURPRISE) and airdropping it to the top 200 holders. We're creating a homestead ofr them on the game, basically an area in the game where they can offer NFTs and farming
Q2 : Itchiro Make It Easier For The Users To Get There Token,but it’s really hard to make the token valuable.
Q1) Is There Any Shortcut That I Can Use To Make The Token More Valuable?
Ans : Marketing, we’re actually working on this....we ned help with amrketing if anyone know someone please DM me
Q3 : Does #ltchiroGames stand out more than which mechanics are games, NFT, farming or so on? and is your project partnered with other financial projects with whom or target $JEM will be listed on which exchange market next?
Ans : Yup
Big CEX listing soon
Partnering with top 200-300 coins for CoinVille, thinks seam slow currently but we're heads down working on this
Q4 : How will Itchiro assest gaming platform? How do you see blockchain gaming potential in the future for Itchiro Game?
I think this is your first AMA so what next, what other way will you make your project more popular?
Ans : Blockchain games are more fo a backbone, similar to the Visa/USDC announcement yesterday, Ethereum is becoming a sybil resistant settlement layer.
For this to work for more indie studios (which is what we need) the space needs better NFT tooling
Q5 : How Can I Be A Liquidity Provider For Your Token Itchiro? And What is the Benefit?
Ans : Info on $JEM mining here:
4,000+ APYs, consistent
However, we’ve designed the distribution of $JEM 💎 in such way where LP mining is not a a high risk, high rewarding investment — but a tool for community members to support Itchiro’s game ecosystem, while their $JEM 💎 appreciates over time.
Its a tool ofr the community to help the ecosystem not a quick flip.
Q6 : In how many ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
Ans : Token Model Part I: Product Cashflow
The value of the $JEM 💎 token is directly correlated to the cashflow generated by the NFT marketplace and wallet contracts. Proceeds from these product’s fees are distributed pro rata, meaning that if you hold 10% of the token supply, you will effectively receive 10% of all fee revenue allocated to $JEM 💎 token holders. Fee distributions happen continuously as pro rata payouts are programmed into the NFT marketplace and wallet contracts.
- NFT Marketplace: 90% of the 0.3% swap fee is distributed to $JEM 💎 token holders pro rata. 10% for DEV fund.
- NFT Mobile Wallet: 90% of the 0.3% swap fee is distributed to $JEM 💎 token holders pro rata. 10% for DEV fund.
Q8 : Can you make an agreement with firms and integrate blockchain into games like wow or pubg?
Ans : The endpoints will be made available for anyone to use since we’ll be using GraphQL
Q8 : How can you protect liquidity providers from impermanent loss. What are your plans if liquidity pools gets hacked? How does a liquidity provider profits from your project?
Ans : ZOKYO audit coming this week too I believe, we got backlogged but its fine, no token hacks, our audit came clean
How mining works:
Q9 : Does your project have any weaknesses? What are you doing to improve this weakness?
Ans : Marketing lol, check message above, we’re recruiting...DM me if you know someone
Q10 : How do you feel about the launching of Itchiro Token?
Ans : GREAT! Went super good and smooth
Q11 : Does Itchiro Games have a special NFT ? Does Itchiro Game have a competition ?
Ans : Maybe shroom, but they’re not a threat, and we’re shipping faster than them. BUt would love to collab with them and Vidya and any other gaming ecosystem.
Q12 : How do you make sure the owner can also generate income for $ JEM? What is your solution to make the NFT a truly important part of the DeFi economy? What is your vision for the Defi industry and the outlook for the NFTs economy?
Ans : NFTs aren’t part of our economy. We’re simply building infrastructure for NFTs to be issued and managed.
Before going today, do you have any Final Words for community
Ans : HIRING!
« If you know anyone who is great at marketing, we're looking to bring someone who can help manage PR, run community community on our different networks. We feel this is what we're missing the most.
Technology can be great but without marketing its no use »
DM me for more info on the role.
Add JEM to MetaMask: https://itchirogames.medium.com/how-to-add-jem-to-metamask-ac168d83b07f
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