Recapitulation of League Of Ancients PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 4th December, 2021
Time: 12:00 UTC
The League Of Ancients PROJECT team was represented by @Peterc817LOA who judiciously shared with us detailed knowledge and information about League Of Ancients PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on League of Ancients?
ANS: I’m Joseph Peter from League of Ancients and I’m the Head of Marketing & Strategic Partnerships. My role consists of working with the team on anything marketing related in terms of the marketing communications, getting in touch with other strategic partners such as ambassadors, private investors and also supporting the team on content management on our social media channels.
Initially we had 4 of us coming together to start this project and as of today we have a team of almost 30 members working on, community management, marketing, technology, game development and not forgetting some of the other functions like HR and Finance.
Q2: Can you introduce League of Ancients, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: It all started by asking ourselves what are the problems we faced and we realized it was quite a challenge for most individuals to come up with an initial investment to start venturing into the play to earn game model and that was the key purpose that we decided to build an ecosystem that is catered to MOBA lovers hence, the idea of League of Ancients is born. With that we decided that we want this to be a free to play project which has zero barrier entry for anyone to get started on and by doing so, we’ll be able to allow more individuals to be exposed to the crypto/NFT side of things. Ultimately the goal is to create an ecosystem for individuals who is able to learn and understand more about how the crypto and NFT space work while playing a game which most of us love playing growing up.
Q3: How did you come about the name? "LEAGUE OF ACIENTS"?
Due to the nature of the game?
Like prince of Persia?😄
ANS: Ahh that game brings back so much memories from the time I used to play PS2 Hahaha
At first, we couldn’t decide. However, our whole team consisted of MOBA players and if we were going to make MOBA history, it only made sense to come up with a name and image which encompassed the feel of the great games that inspired us. League of Ancients was the name we chose. It encapsulated the essence of our inspirations while maintaining a new, yet familiar identity of its own. The Logo itself was designed to capture the feel of all of the world’s best MOBA games into one perfect package.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: One of the top milestones, we have achieved was our recent pre sale in which we had an oversubscription of 100x within 35 minutes and not only that we're also proud to say we securely refunded the remaining balance to the public during the pre sale on the same day itself.
The team has been putting in a lot of effort in trying to be the fastest growing NFT project in which as of today we've got a community of 135k members on telegram and that's just the beginning for us, because we believe we can do so much more by staying grounded and constantly be reminded of why we started this.
I still remember the first time we launched our first ever video on our Youtube channel to introduce the project, in 24 hours we garnered a total of 40k views on the video itself which we're really happy about it too!
As for now, we're currently in our NFT Sales milestones, which we managed to have our Immortal skins NFT to be sold out in just 5 seconds after it was live.
In fact here's the link for the members to find out more about our NFT Sales here:- https://t.me/LeagueOfAncientsAnnouncement/270
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: We've received a lot of enquiries from private investors and other partners when we announced our Private Sale event in fact, we wanted to raise 5m USD however, we've gotten a total of 200m of subscription however, we're very focused on ensuring that we partner with the right and strategic partners to ensure that they are able to take us to the next level.
Moreover, we're also constantly asking ourselves what are the other segments or industry that we could possibly collaborate by reaching out to communities beyond the crypto/NFT space. I'm really excited to for what are the plans we have in the coming months, so stay tune to find out more!
Q6: Can you give an overview of the Tokenomics, and Utility of $LOA tokens?
ANS: League of Ancients Economy is composed of the NFT Marketplace , DEFI and In Game Economy that help sustain the development of the game. NFT market place where users trade and sell their skins to obtain rarer skins. Users can also stake other tokens to obtain $LOA tokens on the platform.
NFT MARKETPLACE: Where users can buy, trade and sell their skins.
DEFI/STAKING: Where users can stake tokens to earn more $LOA tokens. As we grow our network of partnerships, LP and several other tokens may become available for staking on the LOA platform
EVENTS: Players will have several ongoing opportunities to earn rare skins and extra $LOA tokens. These events include but are not limited to, raffles and E-sport tournaments.
Buyback and Burn Rules
80% of all profits across the platform will be used to buy back and burn with BNB. 20% goes to the team: contributing to the cost of long-term game development. As a result this will reduce the total supply of the token.
Buy backs and burns will be conducted by the tokenomics team manually when deemed necessary.
2nd Segment: LIVE Questions
Q1: I read NFT skin can be staked to earn more tokens, it can also be combined to create a higher tier skin, this is a really nice initiative, however, does this mean that top tier players have higher earning opportunities? What about your upcoming players?
ANS: In the Ancient Realm, there are many types of skins with different rarities.
For in-game mechanics, NFT Skins changes the cosmetic appearance of the respective hero and increases the earning potential of in-game currency for normal and NFT matches, based on the rarity of the skin.
In the NFT Marketplace, skin rarities will affect the staking mechanism in the marketplace and the player's account level. Higher the rarity of the skin, the higher potential earnings of $LOA tokens when staked.
After many battles in the ancient arena , Heroes can send their armor (NFT skins) for staking in the LOA charging portal where NFT skins yield token rewards.
Each NFT skin has a mining power that can be upgraded through NFT Skin fusion to upgrade its rarity level. User's mining power would be determined by the total mining power of all their NFT Skins. The amount of LOA tokens mined per day depends on the total mining power across all users on a weighted average period.
Apart from earning from $LOA tokens, users can earn tokens from League of Ancients partners.
Q2: I see that you have done some AMAs and the League of Ancients Telegram group has a lot of members. How important is your community to you? Do you include your community when you have to make important decisions about the path of the project?
ANS: Hey @NFT_Lover_7 I see you've been following us very closely! Without the community, we wouldn't be where we are today and I am glad that everyone in our team is aligned on listening and hearing out to what the community is telling us each time we approach our milestones. There are instances where we've gotten a lot of good and healthy feedback from our community members however, it can be a challenging task for us to ensure everyone is satisfied with every decision we make, but rest assured, our decisions made revolves around the community hence I would say this is definitely something we've been prioritizing a lot since the beginning of this project.
Q3: Alot of people really want to secure a seat for #Genesis Nft sales which is tomorrow but what's the min/max for securing this seat pls clearify this for me here cos I can see different things on telegram page and what marketplace re you listing your Nfts pls?🔥🔥🔥 nice project!
ANS: @Odunerd Hey buddy! Great question on this haha! Could totally sense your excitement on this.
The team had a long discussion on the mechanics for our NFT Sales and we've decided that in order for a fair market, we want to be able to allow everyone an equal chance of purchasing our NFTs hence there will not be a limit to the amount of quantities for our members to purchase. I know that the community had provided some valuable feedback on how we should have conducted this, but we believe ultimately limitting the quantity is also something we do not want to limit our early members who has been with us for day one to be limited to just one unit after being with us since day 1.
It's a tough decision to make, but we believe in most transactions, it takes a willing buyer and a willing seller for a deal to be made hence we decided to proceed with this.
Q4: On your twitter i read that #LeagueOfAncients announcing The $20,000 USD NFT Capsule Giveaway. So How do we participate in the GiveAway? Apart from this, have any specific plans like Airdrop,, Buyback, etc. to attract more users and expand the community and improve the user experience?
ANS: Hey @Jhonsina232 good eye on that! Yes we've recently announce a total giveaway of 20,000USD worth of NFT after receiving an overwhelming respond from the community and we want to be able to also giveback to the community for their constant support.
Definitely having airdrops, buybacks will be one of the plans for us however this will be able to materialised after our Token Generation Event that is taking place very soon in the coming days!
As part of our mission, we want to build a strong ecosystem as we aim to provide a fair, balanced, transparent and self-sustaining ecosystem where all players are incentivized to play and earn assets.
Also, here's a link to our USD20,000 giveaway! Do take part if you havent! Link:- A Strong Ecosystem: we aim to provide a fair, balanced, transparent and self-sustaining ecosystem where all players are incentivized to play and earn assets.
Q5: Hai 🤑🤑🤑
I see LOA is inspired by some traditional games namely DOTA2, but the gap between traditional gamers and blockchain gamers is still big. Do you think LOA will have what it takes to compete with traditional games while playing a role in the world of BLOCKCHAIN? And Can you underline the important point that LOA can overtake traditional games?
ANS: Hey @nilila21 thanks for asking a great question!
Initially we've taken into measure when we draft our roadmap at such in which we've also gotten a lot of feedbacks on this as we all know, developing a MOBA game while incorporating blockchain technology can be complicating, but with a strong team who is behind this project, we're constantly pushing ourselves to deliver because that will be the only way in order for us to gain the trust from our community by delivering and making sure we achieve what was promised!
I wouldn't say we're focused on overtaking traditional games but rather we're constantly reminded of how can we be a better version of ourselves on daily basis in order for us to achieve better and greater things as we approach new milestones on our roadmap. All in all, I can say the team is 100% committed in making sure we're pushing for the game launch to be on time or earlier which will be the best case scenario.
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Also here's your chance to win an exclusive NFTs from League of Ancients here:- https://twitter.com/LOAOfficialMOBA/status/1464066493067452417?s=20
Thank you everyone!
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