AMA Recap Crypto Library with HeliconNFT
On 25th November 2021, HeliconNFT conducted an
AMA in the Crypto Library Community. Our guest is Timothy Biggar. Lots of
questions as usual from the Community about HeliconNFT progress. The HeliconNFT 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 HeliconNFT.
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?
Timothy Biggar (HeliconNFT) : I’m Timothy, HeliconNFT’s Marketing Manager. Among my many responsibilities, one of the most important is growing our community and helping new communities understand why HeliconNFT is changing the game… quite literally.
FIRST SEGMENT (HOST)Crypto Library Team : What is HeliconNFT? and how your team begin the process of creating this project?
Timothy Biggar (HeliconNFT) : Absolutely. I'd love to. I think the best way to summarise what it is we're doing is to say we're building a platform that rewards gamers, creators & developers for investing their time & creativity.
How we do that is what makes us stand out. I think we're all familiar with NFTs & what they can do by now. Well, we think NFTs are the solution to one problem that's plagued gaming - the economy surrounding it, The premise is simple: we want to use the blockchain to enable gamers to use decentralised wallets in our platform, rather than having their money locked in like in platforms like Steam.
How we do that is what makes us stand out. I think we're all familiar with NFTs & what they can do by now. Well, we think NFTs are the solution to one problem that's plagued gaming - the economy surrounding it, The premise is simple: we want to use the blockchain to enable gamers to use decentralised wallets in our platform, rather than having their money locked in like in platforms like Steam.
You could think of us as Steam but with NFTs, ironic given Valve's current stance on NFTs and the fact that we think Steam is awesome and only needs to introduce NFTs to remedy a lot of issues gamers & creators currently face.
Through our Game Add-On System (AOS) API, developers can tokenize virtually any in-game asset, and empower gamers and creators to do the same. That's the gist of it at least. But of course there's a lot more to it.
Crypto Library Team : What services and features are/would be available on HeliconNFT?
Timothy Biggar (HeliconNFT) : I guess the feature set you might be interested in depends on whether you're a gamer or developer. As a gamer, HeliconNFT provides you with access to the types of great games you know and love. We don't want to change games all that much. Games are great as it is. There's a reason the gaming industry has eclipsed the music and film industries.
However, as a user in HeliconNFT, you will be able to mint your in-game items from the various games you play into NFTs, which can then be traded with others in our marketplace. To be clear, we aren't just talking cosmetics, cards or characters, although that certainly is possible. Our API lets developers tag virtually any element of their game as NFT"able".
That could include maps, mods, saved games, sound tracks, anything. So we alongside the developers of your favourite games give you the option to tokenize your hard work (like skins you might have earned) and creativity (like a mod you created) and sell it to the community.
So we alongside the developers of your favourite games give you the option to tokenize your hard work (like skins you might have earned) and creativity (like a mod you created) and sell it to the community. And because NFTs let us retain authorship over NFTs, anyone who mints an NFT, from complicated mods to even just a skin you earned, for every transaction that takes place of your NFT, even if you're not involved in the transaction, you earn a royalty fee.
Developers are also able to use this same royalty fee to generate a constant revenue, so they can continue to make awesome games, but won't need to use micro-transactions and other nonsense to stay in business.
That's just for gamers. We also offer:
- Staking opportunities
- Reward users for contributing to the platform, like with reviews and articles
- Will host esports tournanents plus many other events
- Plus everyone gets a say in how our platform evolves thanks to our decentralised proposal/voting system.
- Reward users for contributing to the platform, like with reviews and articles
- Will host esports tournanents plus many other events
- Plus everyone gets a say in how our platform evolves thanks to our decentralised proposal/voting system.
Crypto Library Team : Please tell us about $HDT token! What are the token use-case, distribution, and how to buy/get it?
Timothy Biggar (HeliconNFT) : The tokenomics of our token, the Helicon Drachma Token (HDT), is explained on our website (https://www.heliconnft.com/HDT) & whitepaper, so I definitely encourage you check it out, but regarding your questions:
We will mint 100 billion tokens, and the distribution is as follows:
We will mint 100 billion tokens, and the distribution is as follows:
2% will be sold in our public offering (unlocked linearly over 60 days)
8% of our tokens will be offered in our private sale (unlocked linearly over 540 days）
9% is reserved for The Helicon Team (but will only be unlocked from day 541, & unlocked linearly over 540 days)
81% will be evenly divided into our 9 DeFi Liquidity mining pools
HDT will be the underlying unit of transfer for all market exchanges. It's how we ensure liquidity. Our public sale takes place early 2022, by the way, but you can also earn HDT through staking.
8% of our tokens will be offered in our private sale (unlocked linearly over 540 days）
9% is reserved for The Helicon Team (but will only be unlocked from day 541, & unlocked linearly over 540 days)
81% will be evenly divided into our 9 DeFi Liquidity mining pools
HDT will be the underlying unit of transfer for all market exchanges. It's how we ensure liquidity. Our public sale takes place early 2022, by the way, but you can also earn HDT through staking.
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?
Timothy Biggar (HeliconNFT) : If you were to ask our development team, I'm sure they'd tell you that our most important milestone is the Agora, the market & economics platform that underpins everything we're doing.
Our market system and staking will go live in early 2022, but is already being thoroughly tested, and our game integration suite will launch not much longer after that, including some games we're working on with our partners (who I can talk about in the near future).
Our mystery box event is your first opportunity to get involved in our ecosystem. By registering for our whitelist, you will not only be one of the first to receive our updates but you will qualify for our NFT event in mid-December.
Participants will each receive an NFT mystery box that contains an in-game item or collectible card NFT of varying rarities. They will eventually be useable in our platform upon launch - either to sell or use in-game.
Anyone can sign up for the whitelist here: mystery.heliconnft.com. You can find a full breakdown of our roadmap on our homepage:
Participants will each receive an NFT mystery box that contains an in-game item or collectible card NFT of varying rarities. They will eventually be useable in our platform upon launch - either to sell or use in-game.
Anyone can sign up for the whitelist here: mystery.heliconnft.com. You can find a full breakdown of our roadmap on our homepage:
https://www.heliconnft.com/#Roadmap
And of course, anyone can ask us for more info on our Discord server discord.gg/heliconnft, as our team is almost always on.
And of course, anyone can ask us for more info on our Discord server discord.gg/heliconnft, as our team is almost always on.
SECOND SEGMENT (TWITTER)Crypto Library Team : Can you tell us more about this Helicon AOS and how it works? Why is it called “Game Add-On System”? How is it possible for this Game Add-on System to function as a bridge for centralized gaming and Decentralized NFT?
Timothy Biggar (HeliconNFT) : While the API we're creating, which we're calling Game Add-On System (AOS), is pretty powerful, the way it works for gamers is actually pretty simple. Our API gives developers the ability to nominate which in-game assets of their game can be tokenized, and how tokenized assets (as NFTs) can interact with their game.
Basically, it lets gamers tokenize their various in-game assets during play, so they can trade them on the market. The reason we call it a bridge is because of the utility of NFTs. Games are centralised as we know. They need to be. We can't all game together if we aren't in the same server, but we would prefer your wallets stay decentralised, so you can always take your money and leave the system whenever you'd like.
That's different from how platforms handle wallets these days, right, where money you put into a system is for all intents and purposes is trapped there.
Crypto Library Team : HeliconNFT mentions that your game is Play-to-Earn and farmers will only sell tokens which keep the price dump. So how does the HeliconNFT team make this project sustainable? What strategies do you have to make this game last for the long term?
Timothy Biggar (HeliconNFT) : In the traditional sense of Play-to-Earn I suppose that's true, but not when our games are, well, games. Think of the sorts of games we're trying to onboard on the platform as shooters (Fortnite, Battlefield, etc.), MOBAs (Dota, league of legends), racers, puzzle games and much more.
Each game will use NFTs differently, but they're still games at the end of the day. You earn while playing because you can sell the assets you accrue doing your time playing. What we don't want is games expressly for the purposes of earning money through simple farm mechanics. There are enough of those around. They're quite frankly boring and we don't want them,
Most NFT games today are made by NFT & blockchain enthusiasts. We want games made by developers who see the potential for NFTs. Think of NFTs as a new technology, like raytracing. We're not building a pump and dump platform.
We'd be hypocritical to say we're building a platform to help gamers and developers earn a reliable revenue only to employ tactics that destroy the value of our coin, hurting the community we're trying to build.
THIRD SEGMENT (LIVE QUESTIONS)
Crypto Library Team : Revenue is a key factor for all projects to survive and keep the projects running. What is your project way of generating profit and revenue?
Timothy Biggar (HeliconNFT) : That's very true, and generating revenue is an important element of our project - not just for ourselves but developers, creators and gamers. Gamers & developers can earn revenue through our royalty system, which provides the author and developer with a small part of the exchange fee (as a royalty).
Our primary source of revenue is a small service charge on each transaction. Fortunately for our community, it's only 2%. However, we will continue to announce and roll out new features & potential revenue streams during the course of our project's lifecycle.
However, we will continue to announce and roll out new features & potential revenue streams during the course of our project's lifecycle.
Crypto Library Team : Many people want to learn about your project but they have problem with English, so do you plan to spread awareness about your project in different countries where English is not good? Do you have marketing strategy aimed at developing many different communities?
Timothy Biggar (HeliconNFT) : For the moment, our content is primarily in English, but that's because we want to make sure that the platform is as good as it can be before we complicate things for ourselves by tackling additional languages, but you can be sure it is on our roadmap. If a community is embracing blockchain, NFTs or gaming, we're embracing them. We just want to make sure we expend resources correctly so as to provide the best experience we can.
On the market front, we're actually focusing on building our gaming & blockchain audiences, as our ultimate end-users & individual investors, but we're also talking to many developers, publishers and technology providers as well.
On the market front, we're actually focusing on building our gaming & blockchain audiences, as our ultimate end-users & individual investors, but we're also talking to many developers, publishers and technology providers as well.
Crypto Library Team : Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest?💪
Timothy Biggar (HeliconNFT) : We actually have a number of mechanisms in place in order to ensure appreciation of our token's value. In the case of your question, we will burn 2% of the tokens used in any exchange.
Crypto Library Team : According to your website the users are able to participate in a whitelist for a Mistery box, but can you explain us what is a Mistery box exactly ?
Timothy Biggar (HeliconNFT) : I talked about our mystery box event earlier but the premise is a simple one. Anyone can register to participate in our event by signing up through our whitelist (mystery.heliconnft.com). Once registered, you not only receive up to date news from us but also qualify to receive a mystery box containing in-game NFTs or collectible cards of various rarities.
Crypto Library Team : What is Agora and what is its role as an element of the Helicon Ecosystem? How is it related with generating liquidity for NFTs and empowering Liquidity Providers?
Timothy Biggar (HeliconNFT) : I'm sure you've noticed on virtually any NFT marketplace that there are a lot more sellers than buyers and not enough liquidity to go around.
Master NFTs are an important element of our economy, and are designed entirely to improve the overall liquidity of the system. The idea is to ensure there is always sufficient volume of HDT & USDT in the system to ensure there are always buyers for NFTs.
You can think of our 9 Master NFTs as governors over our 9 liquidity pools. By owning a Master NFT, you are rewarded 1% of all sales revenue & 5% of all staking revenue that occurs in your relevant liquidity pool. However, you can only own a Master NFT for 24 hours, after which it is return to the market for new bidders. We do this to prevent monopoly over the Master NFTs, and by releasing an owner's rewards over 9 days, we ensure there is always liquidity in the system.
The second part to this is staking. Staking of course also provides liquidity, so we reward it. By staking the pair HDT + USDT, you earn liquidity pool tokens (LP). LP is the only way to purchase a Master NFT. That means you must have staked for sufficient enough time or with enough quantity of HDT & USDT to accrue the LP you need to purchase a Master NFT.
For those not intending to purchase a Master NFT, you can re-stake your LP to earn HDT. There will always only be 9 Master NFTs, as each coincides and governs over one of our liquidity pools. However, the value of the Master NFTs will continue to increase over time. Our smart contract will use a linear pricing model to continually increase the price of the Master NFTs over time. As our Agora is one of the most important elements of our platform.
Master NFTs are an important element of our economy, and are designed entirely to improve the overall liquidity of the system. The idea is to ensure there is always sufficient volume of HDT & USDT in the system to ensure there are always buyers for NFTs.
You can think of our 9 Master NFTs as governors over our 9 liquidity pools. By owning a Master NFT, you are rewarded 1% of all sales revenue & 5% of all staking revenue that occurs in your relevant liquidity pool. However, you can only own a Master NFT for 24 hours, after which it is return to the market for new bidders. We do this to prevent monopoly over the Master NFTs, and by releasing an owner's rewards over 9 days, we ensure there is always liquidity in the system.
The second part to this is staking. Staking of course also provides liquidity, so we reward it. By staking the pair HDT + USDT, you earn liquidity pool tokens (LP). LP is the only way to purchase a Master NFT. That means you must have staked for sufficient enough time or with enough quantity of HDT & USDT to accrue the LP you need to purchase a Master NFT.
For those not intending to purchase a Master NFT, you can re-stake your LP to earn HDT. There will always only be 9 Master NFTs, as each coincides and governs over one of our liquidity pools. However, the value of the Master NFTs will continue to increase over time. Our smart contract will use a linear pricing model to continually increase the price of the Master NFTs over time. As our Agora is one of the most important elements of our platform.
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