Being a crypto gaming platform the games follow the play-to-earn approach. Players will be rewarded by playing the games in the platform with crypto and NFTs. But as mentioned above we don't reward only players, investors have the stake-to-earn approach.
MaticNews x GG dApp AMA Recap and Transcript
MaticNews: Let's start with an introduction of you and your team! What past experiences you all have got if any?
GG dApp: I’m Miguel Gomes, a computer engineer and avid gamer from Lisbon, Portugal, and the co-founder of Tokenwised. We are a portuguese startup focused in blockchain gaming/gamification. My Co-Founder, Carlos Martins, is also a computer engineer and we've worked together in the past in other companies until we decided to join forces and start Tokenwised GG DApp is currently our main project at Tokenwised
MaticNews: Out of curiosity, why did you choose this name, is there any background history?
GG dApp: "GG" is a gamers slang used after a match/battle is finished, comes from "Good Game", Dapp I guess everybody knows. So GG DApp aims to express the idea of a decentralized crypto gaming platform.
MaticNews: What is GG Dapp? Please introduce the project us!
GG dApp: So GG Dapp is an upcoming crypto gaming platform, and DeFi ecosystem, that rewards all who help a game to be a success: Players, Developers and Investors/Liquidity Providers. All this 3 actors can earn our GG Token ($GGTK) and then stake it to earn more from all the projects in the GG DApp ecosystem.
MaticNews: On which chains is your project available, is there any plan to expand on new ones?
GG dApp: GG DApp is still being developed but we already have an open beta working in Polygon network, with a staking pool already available. Our token GGTK (GG Token) is available on Polygon, Ethereum and also in the NULS blockchain.
MaticNews: Wow! Something very unique as offer, especially NULS. Why did you pick this Blockchain?
GG dApp: NULS is one of our partners, we're participating in their staking program called POCM, also they will enable GGTK to be easily available in several other blockchains.
MaticNews: Which is the problem that you aim to resolve?
GG dApp: We aim to solve 2 main problems:
- One is to give indie game developers, like us, an easier way to launch and monetize their games and make it more interesting for players.
- Second one is to give investors access to gaming tokens in an early stage and also an easy way to benefit from the success of the projects they support
MaticNews: Which is the solution on it? Potentially your project could be a game changer!
GG dApp: So the platform will reward everyone who helps a gaming project to be successful through creating economic incentives that lead to it’s growth and development:
- Players will earn crypto and NFTs by playing the games
- Investors can stake our token GGTK to earn more from each project in the ecosystem (native token + % of sales/fees)
- Developers will have access to another revenue stream or even a launchpad for their project
MaticNews: Furthermore speaking about your core, what are the use cases of your native token?
GG dApp: Investors can use our token to stake it in the several pools of GG DApp. There's a general pool where you can earn more GGTK and then the gaming pools for each gaming project in the platform where investors can earn the specific native token of the game and a % of the sales/transaction fees. In our open beta investors can already stake GGTK in the General Pool where 1440 GGTK are distributed every day (with a current APY above 90% based on current total staking)
Soon we'll open the gaming pools where investors can stake to earn the specific native token of each project and part of their sales/transactions fees.
MaticNews: About that, would you like to tell us more about tue open beta with staking already available in polygon network?
GG dApp: With the current open beta we want to give the users a preview of the UI and how the rewards mechanism will work. As mentioned above there's the general pool already available where users can stake GGTK to earn more GGTK.
1440 GGTK distributed in this General Pool every day.
First gaming pool will open soon and it will be the Simracer Coin pool (https://simracercoin.org) a project that we're also developing. Users will be able to stake GGTK to earn Simracer Coin (SRC) and later also part of the sales/transaction fees of the project (in form of GGTK).
We're also going to open this year to external projects, more news about this coming soon.
MaticNews: Please explain your P2E concept to us!
GG dApp: Being a crypto gaming platform the games follow the play-to-earn approach. Players will be rewarded by playing the games in the platform with crypto and NFTs. But as mentioned above we don't reward only players, investors have the stake-to-earn approach.
At this point we're developing the initial two integrations of GG DApp. One is a pirate ship battle game called Pirates 2048 (open beta here: https://pirates2048.com) and the other is a sim racing assets marketplace called SimThunder (private beta here: https://simthunder.com), part of the Simracer Coin project. This are our own projects but the platform will be open to external projects too, soon we'll announce a program targeting indie developers to join it.
MaticNews: Speaking about your NFTs, would you like to tell us more about them?
GG dApp: NFTs are at the core of our crypto gaming ecosystem, players will buy them but also play to be rewarded with them. For example, in Pirates 2048, players will buy pirate characters NFTs to battle other players in the game and will get rewarded with crypto and survivor art NFTs that they will be able to collect from the sea arena.
MaticNews: How will you maintain the sustainability of the whole ecosystem?
GG dApp: The idea is to create a kind of success sharing ecosystem by creating incentives to each project to give back to the community.
The more each project gives back the more staking their pool will have. More staking in their pool compared to the others means they will be rewarded with more GGTK. In resume, the more they give back to investors the more investors will tend to support the project, all in a decentralized way.
MaticNews: Speaking of tokenomics, Let’s talk about it! Please tell us about yours and about why you chose this model?
GG dApp: There's a total of 46,8 million GGTK (most of it time-locked at this point) and the most relevant part is the one allocated for the rewards mechanism. Regarding the rewards mechanism, in order to make it simple, we adopted a similar approach to Bitcoin, with a total of 21 million GGTK available. Every 10 minutes 50 GGTK will be distributed and every four years, the total number of GGTK that GG Dapp users can potentially win, will be halved. A percentage of this goes to the general pool (rewarding investors) and the rest goes to the gaming pools (rewarding developers). Then each gaming project can decide the amount to distribute to stakers and how much of the sales/transaction fees they want to give back (rewarding investors again).
MaticNews: Talking about the security side, the Clichè question that we ask in all AMAs, are there any KYC or audit planned?
Our tokenomics model is still experimental and will be optimized according to insights collected from the integration in our own projects, and as a consequence, changes to this model may occur. So smart contract can still change but it will be audited when we come to close to the production version. Regarding KYC, being decentralized platform like Uniswap there isn't any in GG DApp itself. But each gaming project integrated can have it's own KYC rules of course.
MaticNews: Furthermore, how is the revenue being generated for the project itself which can be used to finance future developments?
GG dApp: Besides the initial token sale, revenue will come from the transaction fees of the platform and also from the sales of our own gaming projects. This will help us to further develop GG DApp itself and also continue to create our own games. And of course to do the necessary marketing for them.
MaticNews: Which are the current partners and the marketing strategy to have new users joining your platform?
GG dApp: At this point we have a partnership with Polygon, Cartesi and NULS. We also recently joined Chainlink ecosystem and will benefit from their support.
With Polygon we've been partners since we joined their Build-n-Earn program with Pirates 2048 and extended the partnership to GG DApp
MaticNews: Talking about the future, as recap, do you have any preliminary roadmap that you would like to share with us?
GG dApp: Just to add to your previous question, besides the paid-advertising this partners enable us to benefit from the exposure in their big communities and that's a key to have new users in the platform.
You can check the roadmap in our website - https://ggdapp.com - (will be updated soon). The most interesting next milestones will be the opening of the first gaming pool this quarter and the opening to external gaming projects later this year.
MaticNews: Last, but not least, what do you think about the current market moment?
GG dApp: Crypto markets are not at their best moment (as the rest of the markets in this crazy world) and that affects of course the project in this area. But for us the important is to keep building, we're here for the long term and we're really excited about what we're creating. We're very bullish about cryto gaming and GG DApp itself!
MaticNews: Great to have you here with us! Thank you for the great answers!
GG dApp: Just want to thank you once again for inviting us to be here and also invite you all to check our project and join our telegram group - t.me/ggdappchat
Jul 29, 2022