AMA Recap Crypto Library with OkLetsPlay

                                        

On 07th September 2021, OkLetsPlay conducted an AMA in the Crypto Library Community. Our guest is Russell Aleksey. Lots of questions as usual from the Community about OkLetsPlay progress. The OkLetsPlay team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into OkLetsPlay.

Let’s take a look at the most interesting points of our conversation. 

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?

Russell Aleksey (OkLetsPlay) : Sure I'm the founder, CEO of OkLetsPlay which is a patented market ready real money esports platform for skill based video games. 
FIRST SEGMENT (HOST)
Crypto Library Team : What is OkLetsPlay? and how does it work?

Russell Aleksey (OkLetsPlay) : OkLetsPlay (OLP) is a patented real money esports tournament platform for competitive and casual PC, mobile and console video games. Our platform is built and market ready.Beta launch saw 9,000 player accounts, over 4,000 PvP matches and 200 tournaments successfully played. We're a highly scalable, highly configurable esports platform for players, game developers, tournament organizers, brands and communities alike. We support most game types and player experience from the noob taking a bathroom break or sitting on the bus wanting to player some hyper-casual games like chess, hopper, puzzle, bubble shooter etc. for cash money and the hardcore competitive esports players and team who are wanting AAA title support on games like League of Legends. In the past (beta) we supported League of Legends, CS:GO and Rocket League with our robust pro-level tournament formats. Our tech is platform agnostic; we support asynchronous, synchronous, single player, multi-player and teams, leaderboards and pro-level multi-day tournament formats with single or double elimination, and best of series that have anywhere from 4 – 256 teams with anywhere from 1 to 5 players per team.

Crypto Library Team : Tell our listeners a little about yourself and how OkLetsPlay came to be!

Russell Aleksey (OkLetsPlay) : OkLetsPlay was conceptualized to spice up gaming between friends and family. After going out into the market we came across another real money esports tournament platform Skillz and simply didn’t like the user experience or the user interface. Being frustrated that there wasn’t a good streamlined solution we set out to make one. After reviewing all the patented IP in the space we realized that there was an excellent opportunity to fence off what we believe to be the optimal player and developer experience using an out-of-game non-embedded peer wagering module. So we wrote a full utility patent, partnered up with a top IP firm to make sure the i’s were dotted and t’s were crossed, and then got it filed and approved. We now have a full patent portfolio around the out-of-game non-embedded peer wagering module. From there we built a mobile MVP then pivoted to making ourselves an Overwolf app as Overwolf and Intel enticed us with a developer grant to build on their platform. Ultimately being an Overwolf app carried too much user acquisition friction and Overwolf wasn’t able to provide us with suitable tech support so we made ourselves into a web app and native mobile apps… which brings us to where we are today.

Crypto Library Team : Can you tell me why, as a company, you chose to deliver a ready to-market product unlike other projects?

Russell Aleksey (OkLetsPlay) : The OkLetsPlay platform was conceptualized and built to create a new optimized player and developer experience in mind. This was our interest and focus from day one! Minting a token and conducting a token sale was never a priority / focus of ours as the OkLetsPlay IP and experience was / is going to be built regardless. We set out from day one to create a new better player and developer experience and this is what we have done and are going to continue to do. Minting and incorporating a token into the platform simply enhances the player experience in several areas from creating a universal in-app currency that supports players around the world, player wallet / token ownership, reduced third party fees when adding / withdrawing funds, reduced match and platform fees, win multipliers, boosted player profiles and open match listings as well allows the platform to give players monetary value for simply engaging i.e. a token drip for grinding, playing in matches and tournaments so you don’t have to win to earn OKLP tokens.

Crypto Library Team : Does OkLetsPlay have any unique Intellectual property?

Russell Aleksey (OkLetsPlay) : Yes, OkLetsPlay holds a published patent and portfolio of IP (continuation applications) and PCT filings for it’s Peer Wagering Module patent portfolio. Patent title:
Method, device, and computer-readable medium for wagering on a skills-based digital gaming competition with an out-of-game peer wagering module. Method, device, and computer-readable medium for wagering on a skills-based digital gaming competition with an out- of-game peer wagering module that is external and distinct from at least one game stored on the storage device or another storage device, the method including: receiving potential game and competitor player data; receiving game competition selection information from the player that includes at least one selected game instance and at least one bet amount; receiving game instance match ID data generated by the transactional server, wherein the game instance match ID data includes at least one of: credential data associated with the player, player bet amount or a board, level, or difficulty setting associated with title selected game instance; and transmitting the game instance match ID data and game initiation data to the game, thereby activating the at least one selected game instance on the computing device. The great thing which we’ve done is keep our patent application alive i.e. a living patent which allows us to build / expand off of the parent patent application. In short what the patent IP portfolio is… is an out-of-game non-embedded peer module (application / platform) that is 100% independent outside of the third-party games which it support therefore there is no wagering/betting functionality or UI embedded in the game itself thus game devs can serve up real money tournaments and PvP matches on their games without impacting the non-eligible player community all while not having to lift a finger as OkLetsPlay handles 100% of the real money tournament / PvP functionality, player support etc.

Crypto Library Team : Could you give our audience a sense of how big the Esport gaming industry is and what role OkLetsPlay plays in it?

Russell Aleksey (OkLetsPlay) : With a passionate community of players and devs continues to grow, the gaming industry is gearing up to make virtual competitions more mainstream. With its patented tech, and the wind at its back, OkLetsPlay is well situated to gain market share in the eSports and casual mobile gaming markets, paving the way for expansion as their ecosystem evolves. OkLetsPlay will aim to outgrow the other big players in the space such as Skillz, and with investment industry leaders such as Cathie Wood taking a keen interest in the space, with ARK Invest's recent purchase of more Skillz stock, more and more people are showing a keen interest. In 2021, the global eSports market was valued at just over 1.08 billion U.S. dollars, an almost 50 percent increase from the previous year. Additionally, the eSports industry's global market revenue was forecast to grow to as much as 1.62 billion U.S. dollars in 2024. Asia and North America currently represent the largest eSports markets in terms of revenue, with China alone accounting for almost one fifth of the market. Mobile gaming is already bigger than the console and PC gaming markets combined, contributing nearly 57% of the $173bn global video games revenue in 2020. Worth $98bn in 2020, the mobile gaming market will grow to $272bn by 2030, at a compound annual growth rate (CAGR) of 11% over the period. OkLetsPlay has a stake in the ground with its patented intellectual property. We see huge growth potential as we gain market share, growing both as we gain a bigger % of the market but also as the market grows.

Crypto Library Team : What is OkLetsPlay trying to accomplish in the Gaming Ecosystem?

Russell Aleksey (OkLetsPlay) : We strive to become the gold standard for real money game-of-skill tournaments which provides a win-win solution for players, developers, sponsors and OkLetsPlay alike. Everything we do is player and game developer centric. We're going to accomplish creating a friendly community and location where anyone from a noob to a hardcore competitive player can come into the platform, hangout for 5 minutes or 5 hours, find a real money gaming experience for which aligns to their interest and skill level. Furthermore we’ve created a platform that allows game developers to easily and economically support real money tournaments on their game without disturbing their non-eligible player community.

Crypto Library Team : Why mint a token for the OkLetsPlay ecosystem?

Russell Aleksey (OkLetsPlay) : By utilizing the OkLetsPlay (OKLP) token, players will benefit from reduced fees, win multipliers, faster transaction times, and several in-game perks. However arguably the most important thing from a company standpoint is that a token allows the platform to have a universal currency which players from around the world can utilize and fully own/control. This helps eliminate cross currency stakes on matches as we support 184 countries and territories a token allows a player in the U.K. to wager with a player in Brazil using a token vs mix matching / syncing up fiat exchange rates etc. Furthermore, OKLP holders / players will receive discounts on tournament entries, lower platform on PvP matches, win multipliers, boosted player profiles and match listings, and more. Additionally, the platform will grant exclusive access to token-only tournaments with the utility of the OkLetsPlay token. The platform will provide users with dual wallets, with options to choose between fiat or cryptocurrency within the OkLetsPlay ecosystem. Of course, opting for the latter will come with several added bonuses on transactions. The OKLP token will be listed on both, decentralized and centralized exchanges which will bring the project greater exposure, whilst being easily accessible for traders. As the OkLetsPlay ecosystem grows, so will the token utility. The token will drive organic market demand simultaneously, attracting not only gaming enthusiasts but also newcomers, to enjoy the benefits of the OKLP token. OkLetsPlay envisions an open, borderless world in which people and machines collaborate and exchange value globally and freely, without gatekeepers or intermediaries. A world in which gaming communities thrive, unconstrained by artificial borders and archaic regulations. OkLetsPlay (OKLP) is a key element in achieving that vision.

Crypto Library Team : How will the capital raised from the OKLP token sale be used?

Russell Aleksey (OkLetsPlay) : Full details about the use of funds raised is best viewed on the whitepaper (link below) but this includes things such as Marketing, User Acquisition, Dev, Live Ops, Payroll, Overhead, $ Prizes, In-App Rewards, Game Acquisitions & Integrations,Asset & IP Expansion, Legal IP & Gen. Counsel, License Fees and Taxes. The important note here is that again the platform is built, market ready and that the vast majority of funds raised through the capital sale are going towards User Acquisition and Game Integrations. We will likely utilize more of the funds raised to support game developers in integrating their games with OkLetsPlay. Here is an early draft of the whitepaper; updates are being made however this will give you all a better idea of who we are, what we’re doing and where we are going.
Crypto Library Team : What is the best way for our listeners to learn more about OkLetsPlay?

Russell Aleksey (OkLetsPlay) : Join our Telegram, Twitter, Instagram, Facebook channels:
V1 of the OKLP token landing site https://okletsplay.io will be live in a few days as well so you can check periodically here; once live any interested persons can connect w/ us there as well as here in Telegram.
SECOND SEGMENT (TWITTER)
Crypto Library Team : I know OkLetsPlay created a patented real money esports tournament platform for casual gamers. What features do you offer gamers? Can you tell me how it all started and how it all worked?

Russell Aleksey (OkLetsPlay) : OkLetsPlay support many different player experiences on multiple gaming platforms from single player synchronous and asynchronous gameplay to team play for leaderboard positions to single player and team pro-level tournament formats with single/double elim, best of N matches, multi-day tourney with coaches, subs and spectators. We are also building in a progressive beat the house experience where players can compete to beat pre-set scores and then work to beat the previous score in a progressive way. Our tournament system, developer and admin dashboards are very robust and we can easily support tourneys with anywhere from 4 – 256 teams with each team having 1 to 5 players per team.

Crypto Library Team : Players will be rewarded $LBC when playing in the match. So what are the benefits and uses of the $LBC token in the OkLetsPlay ecosystem? How does OkLetsPlay create global awareness of the importance of the gaming industry's value on blockchain?

Russell Aleksey (OkLetsPlay) : I am so glad you asked this question! This is a perfect opportunity for us to tell you all about our recent update! We are changing the name of the upcoming token from LetsBetCoin (LBC), to OkLetsPlay (OKLP) token. By utilizing the OkLetsPlay (OKLP) token, players will benefit from reduced fees, faster transaction times, and several in-game perks. However arguably the most important thing from a company standpoint is that a token allows the platform to have a universal currency which players from around the world can utilize and fully own/control. This helps eliminate cross currency stakes on matches as we support 184 countries and territories a token allows a player in the U.K. to wager with a player in Brazil using a token vs mix matching / syncing up fiat exchange rates etc. Furthermore, OKLP holders / players will receive discounts on tournament entries, lower platform on PvP matches, win multipliers, boosted player profiles and match listings, and more. Additionally, the platform will grant exclusive access to token-only tournaments with the utility of the OkLetsPlay token. The platform will provide users with dual wallets, with options to choose between fiat or cryptocurrency within the OkLetsPlay ecosystem. Of course, opting for the latter will come with several added bonuses on transactions. The OKLP token will be listed on both, decentralized and centralized exchanges which will bring the project greater exposure, whilst being easily accessible for traders. As the OkLetsPlay ecosystem grows, so will the token utility. The token will drive organic market demand simultaneously, attracting not only gaming enthusiasts but also newcomers, to enjoy the benefits of the OKLP token. OkLetsPlay envisions an open, borderless world in which people and machines collaborate and exchange value globally and freely, without gatekeepers or intermediaries. A world in which gaming communities thrive, unconstrained by artificial borders and archaic regulations. OkLetsPlay (OKLP) is a key element in achieving that vision.

Crypto Library Team : A significant feature of #OkLetsPlay  is security. Are there security protocols used in your platform to safeguard the primary commercial partners' and users' assets and products? Are they defenseless to harmful attacks share?

Russell Aleksey (OkLetsPlay) : We take security very seriously. OkLetsPlay utilizes encrypted isolated databases from industry leading service providers. Admins can track and view suspicious gameplay as. OkLetsPlay has system level flagging of suspicious gameplay where questionable player accounts can be frozen and reviewed. Furthermore we’re looking at building in a player reporting system that will not only keep suspect players from being bad actors but also will keep players in check from falsely reporting others. Players go through a layered KYC/AML process which is powered by http://acuant.com (an industry leading KYC/AML solution provider) when joining the platform to ensure compliance and when purchasing tokens. Partners games remain unaltered, therefore we have no effect or impact on their security in any way; we use encrypted security tokens to pass basic player data to and from game partner servers. In terms of the coin itself, the OkLetsPlay (OKLP) token is being minted on the Polygon side chain. Polygon chains can use Ethereum, the most secure programmable blockchain in the world, to host and execute any mission-critical component of their logic. This layer is implemented as a set of Ethereum smart contracts, in charge of functions like: Finality/checkpointing, staking, dispute resolving and message relaying.There is also an additional security layer. This is a specialized, non-mandatory layer managing a set of validators that can periodically check the validity of any Polygon chain for a fee. This layer can be implemented as a meta-blockchain that runs in parallel to Ethereum, in charge of functions like: Validator management (like registration/deregistration, rewards, shuffling etc).
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?

Russell Aleksey (OkLetsPlay) : 
OkLetsPlay was founded in 2017. Here is a screenshot of the roadmap, but you can see more details in the whitepaper https://cloudfil.es/1eVDdugyI3u

Crypto Library Team : The COVID-19 outbreak has affected every business in the world. Is your project affected by this? Is it in a better way or a bad way?

Russell Aleksey (OkLetsPlay) : Yes covid has actually been positive for our business because people are interested in playing video games from home during the pandemic.

Crypto Library Team : I read in your website that there will be more games,more features and more cash in your relaunch, so can you tell us why is there a need to have a relaunch in OkLetsPlay?

Russell Aleksey (OkLetsPlay) : We just finished a complete code rewrite that makes the platfrom better in every way. Thats why there is a relaunch. We are tesing and everything is looking great!

Crypto Library Team : Do you plan to burn tokens to increase token value and attract investors to invest? Which doubles the customer demand per project?

Russell Aleksey (OkLetsPlay) : Yes. There is more information about this in the whitepaper. Thanks! 
Crypto Library Team : NFT is really a hot topic in the cryptocurrency market now. So how is your project planning to develop NFT then how is your project planning to integrate it with DeFi?

Russell Aleksey (OkLetsPlay) : Yes we are minting on the Polygon sidechain which allows easy integration with the NFT ecosystem.
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