Recapitulation of PathDAO PROJECT AMA event held at AMA LOVERS CLUB.
Date: Thursday, 2nd December, 2021
Time: 14:00 UTC
The PathDAO PROJECT team was represented by @Everyfyncrypto who judiciously shared with us detailed knowledge and information about PathDAO PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on PathDao?
ANS: Hi AMAlovers fam, this is Weekee, Malaysian here. I graduated from Imperial College London four years ago, doing biotechnology. I first got my btc in 2015 and eth in 2016. Right after university, I went to Boston Consulting Group as a management consultant. I become active on the crypto scene again, when I came across Axie Infinity in June. Was astonished by the concept, user growth and low valuation ($axs was ~5 USD). Went all in alongside other investments in Illuvium, and got a ~40X return in the last few months.
We witnessed first hand how play-to-earn is transforming the lives of many, and how blockchain gaming will be the megatrend for many years to come. Since then, we pulled together a team of 9, all Imperial graduates to start PathDAO. Our team has a combination of crypto, business and tech experience, and are based in Southeast Asia.
Q2: Can you introduce PathDao, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Blockchain gaming is the future because it allows true ownership of assets. Gone are the days of reloading credit and buying in-game items that you don't own. When we came across Axie Infinity Play-to-earn model in June 2021, we were mind blown, because
(A) players can actually earn decent income by playing a game and
(B) we are now able to truly own the virtual assets with blockchain technology.
Prior to founding of PathDAO, we ran a guild with 50 scholars in Malaysia. It is crazy to see how the majority of them are exploited by other guilds, with most of the income going back to the guild instead of the scholars. I wanted to change this, hence we started PathDAO, with 70% of the income going back to the scholars.
On top of that, we realized that most scholars in developing world are unbanked, with no access to insurance, financing facilities etc. Gaming guild is best positioned to solve this. Imagine now, the scholars are given the options to channel X% of their earnings to insurance, or investments? That would be a great value add to them, bringing fintech to the unbanked.
Our advantage come from
- Investment know-how (40X portfolio is last few months)
- network (Genesis cyberkongz, punk, bayc holders, with Kieran, cofounder of Illuvium as our advisor), with seed round led by Defiance and Merit Circle
- Our network in Southeast Asia
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: PathDAO is a gaming guild that invests and manages assets in the virtual gaming world. Since our founding in six weeks ago, we have
- brought in 1,000 scholars and aim to have more than 5,000 in January 2022
- closed a seed round led by DeFiance Capital and Merit Circle
- secured partnerships with 9 blockchain game ecosystems (Illuvium, Vulcan Forged, Playmon, CryptoUnicorns, League of Kingdom, Age of Tanks, Nine Chronicles, Geopoly, Sipher)
- assembled a strong advisor panel, including Kieran Warwick — co-founder at Illuvium, Kyle Chassé — CEO at PAID network, Anderson Sumarli — CEO at Ajaib, fintech unicorn in Indonesia, Prakash Somosundram — CEO at Enjinstarter and Pino Tedesco — CEO at LVT Capital
- launched the first NFT project, a co-generative NFT that allows the owner to define the final form of the art by inputting a phrase of choosing. Minting is now closed and close to 1,900 of them have been minted
We have lots of plan but the three key ones are:
- We want to increase our scholar base from 1,000 today to 5,000 in January 2022, and 30,000 scholars by the end of 2022.
- We want to build fintech for the unbanked, and we target product roll-out by Q1 of 2022. As we speak, we are already designing and finalising the product roadmap, with our fintech unicorn partner in Indonesia.
- We want to activate our on-chain voting and governance mechanisms, as steps towards a Decentralised Autonomous Organisation. We also aim to strengthen this with a performance dashboard that captures the treasury value and earning of all our scholars across all ecosystems
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: We actually have multiple relationships across
1. VC Partners, we just concluded our seed round led by Merit Circle and DeFiance. Alongside support from SnapFingersDAO, LvtCapital, Master Ventures, StakezCapital, NewTribeCap and others RocketFlexed biceps.
2. Advisor panel. PathDAO has a strong advisor panel, including Kieran Warwick (co-founder of Illuvium), Kyle Chassé (CEO of PAID network, Ignition), Prakash Somosundram (CEO of Enjinstarter), Anderson Sumarli (CEO of Ajaib, fintech unicorn in Indonesia), Pino Tedesco (CEO of LVT Capital).We believe we have the right mix of expertise to excel in the blockchain-gaming space, cryptocurrency scene and on-the-ground fintech technologies.
3. Game partnerships. We have secured partnerships with 9 blockchain game ecosystems (Illuvium, Vulcan Forged, Playmon, CryptoUnicorns, League of Kingdom, Age of Tanks, Nine Chronicles, Geopoly, Sipher)
4. Community supporters Punk, BAYC, genesis Cyberkongz, mystic axie owners, we are well connected in the metaverse and NFT space. Most of the deal flow and best investment opportunities are first discovered in these communities. This provides us with early advantage and access to off-market deals.
Q5: Can you give an overview of the Tokenomics, and Utility of $PATH tokens?
ANS: $PATH is the governance token of PathDAO. $PATH holders own the treasury, and are given the rights to govern and vote on the investment and operational aspects of PathDAO. Holders of $PATH tokens can stake their tokens for staking reward.
One of the most important advantages of PathDAO is the access to off-market deals. Institutional firms always have access to early-stage deals at an insanely low valuation. PathDAO has strong advantage and access to early-stage deals with blockchain gaming ecosystems due to our ability to bring in new users. For example, we can approach a new game and promise to bring 1,000 players to their ecosystem. In return, PathDAO is given the opportunity to buy the virtual assets on the ecosystem at the lowest price. This creates the biggest value for $PATH holders as the treasury value increases.
Another big utility of $PATH will be the incorporation of $PATH in our future fintech products. We will disclose more detail, but the idea is to encourage users to purchase $PATH tokens to unlock the fintech offering of PathDAO.
2nd Segment: LIVE Questions
Q1: Reading your project I could see that your core team has strong investment expertise so I would like to know more about this expertise and how the project treasury would benefit from this expertise? What investment plans do you have for the treasury funds?
ANS: One of the most important advantages of PathDAO is the access to off-market deals. Institutional firms always have access to early-stage deals at an insanely low valuation.
PathDAO has strong advantage and access to early-stage deals with blockchain gaming ecosystems due to our ability to bring in new users. For example, we can approach a new game and promise to bring 1,000 players to their ecosystem. In return, PathDAO is given the opportunity to buy the virtual assets on the ecosystem at the lowest price. This creates the biggest value for $PATH holders as the treasury value increases.
Q2: Our platform is launching a game, how do we partner with PathDAO?
ANS: hey PathDAO also has a launchpad that helps market games to our community of >40K members
Just shoot us message on discord or telegram!
Q3: What will happen as the treasury grows? How will you make the value of the $PATH token also grow reasonably? Is the distribution of funds fair?
ANS: $PATH token holders own 100% of the treasury, hence it is up to the governance and voting of the $PATH community to decide how best to deploy and return the funds to the owners!
Q4: DeFiance is excited to back the capable hustlers at PathDAO to grow their guild into a mainstay in the Indonesian market But what's so special about Indonesia why not selecting other Nation or do you have some list of language speaking countries you want to grow their Market?
ANS: hey man, reason we pick Indonesia is because we have partnered up with a fintech unicorn, ajaib, (the CEO is our advisor) to bring fintech to the unbanked
We believe that scholars will have a better access to financial technologies with the services provided by PathDAO (think about theh healthcare insurance and DeFi protocols we could provide for these unbanked scholars!)
And that is the key reason why Defiance invests in us
Q5: Hey 😁
$PATH has Total supply of 1BN but why only 25 Mn supply will be on sale on Copper Launch? Also why there is no Vesting Period?
ANS: Hey buddy, it is public launch so no vesting
Right after our public launch, we will have staking launched with APR of >200%, to encourage long-term holding of $PATH
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