AMA Recap CryptoNews ID with REALM — Jun 4
This AMA recap was originally published on CryptoNewsID.
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AMA Recap CryptoNews ID with REALM
Thank you to the CryptoNewsID Community for participating in Ask Me Anything (AMA) with Gamee on June 4th 2021. If you were unable to join the live AMA, no worries here comes our 77th AMA recap!
Host: Zaw Zaw
Guest: Mr. Matthew Larby & Mr. Joban Thomas
Background Mr. Joban Thomas:
Hey there — no problem. I’m Joban and I have been involved in tech startups and crypto for many years. I love building great products with super clean UX and elegant solutions. I take the role of CPO, Creative Director and have also been a CTO and technical consultant for large brands and startups.
Background Mr. Matthew Larby:
Hey there, my name is Matthew Larby, I am the founder and CEO of Realm. I love technology and previously founded a web 2.0 tech business with Joban, where we built an internal GPS system and a software layer to connect people with buildings. We eventually sold that business to a tech billionaire. I’ve been investing in the blockchain space since 2013.
SEGMENT 1: PROJECT INTRODUCTION
Q1. can you explain briefly about REALM to our community?
Realm is a metaverse built out of lots of little microverses that are connected together via portals. People can create their own realm to look how they want. E.g. an art gallery that may be in outer space where you hang your NFT art and sculptures. Or you can just make a fun realm with mini games inside it. So in essence, Realm is a collection of virtual spaces where you can exhibit NFTs, sculptures, music and connect with friends and throw events. 🥳
Q2. Can you tell us your Tokenomics? Are there any plus points that you have over your competitors?
Firstly our community allocation is massive — 25% of the total supply will go to the community! Combined with the dispersal of platform fees, the Realm Foundation has the financial power to provide real benefit to the NFT gaming and art community.
For more info on tokenomics please follow https://t.me/Enter_Realm_Alerts as we will announce them there today.
Q3. How do your games and NFT platforms work? How are they different from other gaming platforms?
Firstly we’re using an open source game engine called Godot — Godot is a powerful, lightweight, and community-driven game engine that is very different to centralised engines such as Unity and Unreal. Working Godot means the Realm engine is completely independent of any centralised entity who could impose censorship or control.
One of the advantages of using Godot is that it allows Realm to provide a wide array of creation tools for players and creators.
For example, non-technical players can choose from several Realm templates, such as Art Gallery, Cyberpunk, Samurai to easily create their own space. For skilled creators, Godot allows us to provide advanced tools for creation. Realm will ultimately contain a fully fledged gaming ecosystem hosting features such as physics, game mechanics, and monetisation opportunities.
Our NFTs also have some super interesting features:
NFTix for instance is a counterfeit proof way of running virtual events inside the Realm metaverse. Another way our NFTs have utility is that they interact within a game engine so for instance a special NFT might be required to access a hidden area inside a realm. Some of our NFTs will have DAO voting rights on the council of the Realms. Finally a realm (the virtual space) is an ERC 1155 and the realm can have a revenue stream for instance if it regularly runs art exhibitions
Q4. Please give us some details about your roadmap going forward, how do you plan to onboard users and gain more adoption?
We’ve already made great progress building this complex project: smart contracts for our token and NFTs (Realms, Genetic Pets, in-game items) are completed and we’re building out a super user-friendly mobile app for people to discover and follow content on the platform. Of course we’ve also been busy creating realms themselves, and the tools for users to build their own realm and mint it as an NFT. We will launch with some awesome realms, and are also collaborating with artists and collectors to bring their work to life.
You can find our roadmap on www.realm.art
The plan going forward: Allocation Mining Event with launchpool.xyz around June 28th. IDO two weeks after. Then we open up the realms around the end of July. We have partnerships with very large NFT brands that are creating some of the coolest NFTs and they will build their own realms and you will be able to explore the Realm metaverse with these NFTs. Then our main focus for August through to December is on the creator tools, which make it easy to make realms and other cool NFT objects and pets.
Q5. With Realm, NFT artists have the opportunity to show off their masterpiece in customizable VR/AR experiences. other than that, what are the advantages that NFT artists get when they use REALM?
We’re working on partnerships with existing NFT communities like Superrare and working with new emerging artists. So for example, we’re going to have a community Realm that’s for only new and undiscovered NFT artists, no big artists will be allowed in. We want to show what’s out there and sometimes really great NFT art is overshadowed by the big players, who are important, but so are the smaller ones.
We have tons of great ways we will incentivise the artists. For instance, the Realm Foundation will be able to provide significant rewards for creation, and users will be rewarded for exploration of realms and taking part in events.
Realm will also leverage integration with OpenSea, both via API connections and on the OpenSea marketplace. By leveraging the secure, stable marketplace, and vast amount of NFT content on OpenSea, Realm can rapidly scale its interactions with the wider NFT ecosystem. On top of this, OpenSea’s support of Matic (Polygon) allows for frictionless trading of non-fungible items such as NFTix and in-game assets.
Finally I think it’s important to understand what Artists want. They tend a space to exhibit their art and a way to connect with their fans. Our realms combined with live audio technology really makes this possible 🥳
SEGMENT2 : INQUIRIES FROM TWITTER
Q1. From @Ghosthunter
Realms are virtual spaces powered by the Godot open source game engine. this sounds like a great thing, can you explain the advantages of this Godot open source game engine to us?
So for those who don’t know, Godot is a powerful, lightweight, and community-driven game engine that is very different to centralised engines such as Unity and Unreal. Working Godot means the Realm engine is completely independent of any centralised entity who could impose censorship or control.
It also means we can build Realm for all devices — mobile, desktop, web
and everyone can experience it without the latest hardware
Q2. From @nassarKDI5
As we know you are using the ERC 1155 Token which is the latest standard token from Etherium. can you explain the advantages of the ERC 1155 token which is implemented by $REALM ?
Sure there are many advantages to the ERC 1155 standard, the first is gas costs as they require far less gas.
The second benefit is that ERC1155 can contain any number of assets from the Realm ecosystem — ERC 20 tokens, ERC721 realms, pets, consumable.
So imagine you have a whole realm minted as an ERC 1155 and it contains a bank that holds ERC20 $REALM tokens, some cool ERC 721 pets etc. We can then sell the whole realm in a single transaction
We can mint an entire realm as an ERC1155 so its really flexible, and are also able to bridge these between layer 1 and layer 2 using Polygon — so users can choose to move their assets to Layer 1 Ethereum if they wish.
Q3. From @Man01Art
I am very interested after reading your website about Bridging Reality, Because this is the first time I’ve heard of this in the Crypto space. What does “Bridging Reality” mean?
There’s a couple ways we’re doing this: we want to bring people and in real life events into realms such as art showings, music festivals, conferences, etc. NFTix, which are collectible NFT tickets that give you access to special events happening in realms, are going to be great for this because they work like real-world tickets but in the virtual space.
We are using augmented reality to make 3D NFT models come to life or if you find some NFT art you like in a Realm and want to see what it would look like on your wall. We are also playing with the idea of bridging reality by making actions in real life when certain actions occur in the metaverse. A great example of this would be that we are planting trees in real life when virtual trees are planted in Realm, this is good for the environment and widespread adoption of Realm
Q4. From @Inamozart
An ambassador help projects towards mass adoption. So, do you have an ambassador program too? If yes can you share the details with us?
Currently we are building an advisory board of wealthy art collectors and famous artists. As Realm evolves, we’ll be looking at more community initiatives for our users, and ambassadors will be one way we do that. We’re also open to suggestions from the community on how they would want us to do this! 😃
Q5. From @TornandoDandi
They comment on their website that one of the ways to earn their REALM token is by “mastering” the kingdoms. What does this mean exactly? Go through them or explore them in their entirety?
There are a number of ways that users can master the realms! Firstly creators — We will be awarding $REALM to users who create outstanding and mind bending realms and NFTs — we have set aside 25% of the entire token supply to rewarding creators and the community.
Secondly users can master the realms by exploring and gaining experience in the realms — for instance completing a challenge can give you a reward, or just exploring all the realms and jumping through a certain number of portals. We are going to be rewarding users for all sorts of interaction, and also allowing players to reward the realm creators and each other in a really organic way.
SEGMENT 3: LIVE AMA
Q1. From @Hdjsjejs
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
As realms grow more $REALM tokens will be locked up reducing the volume of freely exchangeable tokens, this will increase the price. Also as the realms grow so does the economy inside the realms, which need to be paid for in $REALM token.
Metaverse tokens are some of the most valuable projects on the market for instance Decentraland is worth $1.8 Billion dollars. Finally game type experiences work best if we go into a bear market because they bring enjoyment and value to the holders 🥳
Q2. From @JoanaZ
I realized that realm allow users to combine music, art, games to create a Realm and create a ERC-1155, but why did you decide use the ERC-1155 tokens instead of the ERC-721?
We chose the ERC1155 token because it is a much more flexible and modern token standard than 721. It was developed by Enjin as an EIP proposal specifically for the purposes of games and metaverse applications, and it fits perfectly with our models of consumables, tickets, realms and splitting royalties.
Q3. From @MR_RAJsing
In the event that Covid 19 continues for an unknown period of time, will this have an impact on your platform and this system?
No! In this event we will be creating awesome spaces for people to socialise and experience art — as we all know art galleries and social spaces have been closed due to COVID, so we are confident that even if the situation does not improve we will be able to give people a great experience.
Q4. From @Isansyn
Does the price of the token matter to you from an operational perspective, if the token price is $1 or $100?
The price of the token matters to us because we want it to go up so the people who support the project and invest in Realm can make healthy returns.
It is also important to note that we have raised investment from some of the worlds best funds to ensure that we have enough money to survive any Bear market
Q5. From @neutron007op
What are your competitive advantages?
We already sold one business and learned how to do things properly over that 6 year period. We have a very good team that are experts in their field and have worked on very successful ideas like Avatar the movie, Riot games, at Blippar, the worlds best AR company.
We are also developing our software to be very user friendly when a lot of crypto doesn’t focus on mobile software and frankly make quite difficult to use projects. 🤩
Q6. From @NathalieRomano
So far, how many people are there in $RealM eam with how many employees? Who is the person who contributed the most to build $RealM today?
We’ve got an awesome team of 12 and are growing every day. Our team have worked with 20th century Fox, Avatar, Riot Games, Annapurna games, have maths Phds, Cambridge University degrees — we have the skills necessary to build the vision :)
There are 12 engineers + 3 business people and 3 creatives. The founders are Joban, Milan and Myself and we have been working on this for 6 months.
Q7. From @Mambotipl
What is your plan for global expansion? Which market does RealM focus on currently?
Partnership with the best NFT brands, talking to famous artists 😃
Q8. From @chzrles
How many evolutions can pets have in Realm? It is said that Pets evolve based on realms they visit, but is there a limit of evolutions? Also, what features are unlocked through the evolutions of the pets? @mattlarby @Joban_T
Infinite. What happens is you have 2 parent pets with genetic characteristics on the blockchain. Then you stake these pets in a contract that is connected to Chainlink verifiable randomness. The child will be a random mutation of both parents characteristics. Then you can do this over and over. Generation 1 pets will be very valuable 🐣
Thank you for trusting CryptoNewsID as the organizer of the event today, hopefully everyone can understand about REALM
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