Saturday,17th July 2021, 1PM UTC.
Hello everyone welcome back again to AMA series FCM. Today we will have an AMA with JM as a founder from HiFi Gaming Society Platform
HiFi Society : Hi Everyone. Glad to be here! Excited to share more about HiFi Gaming Society!
I’ll explain a little bit about how the AMA will works today
There are 3 segment in this AMA
Segment 1: Project Introduction
Segment 2: Question from Twitter
Segment 3: Free Asking
Before we go to segment 1 Can you explain to us a little about your background before entering the cryptocurrency world and your journey untill join Hifi Gaming Society project?
HiFi Society : Of course, and again, please let me thank you for your invitation to Forum Crypto MoonLight!!
My name is JM, I’m the project founder. Nice to meet everyone!
I come from USA and I’ve worked in Silicon Valley and currently “Silicon Beach” in Southern California is my home. I’ve been working in tech startups for the past 15 years and playing video games my entire life. I’ve also developed a focus in building teams and scalable processes, identifying talent and developing talent.
When I was growing up, I always felt like there should be a way to get rewarded for all the time we spend playing video games.🎮
The time we all spent playing video games was an investment and the value was locked inside the games we were playing. It was frustrating walking away from my favorite Role Playing Game (RPG) Secret of Mana on SNES where I clocked like 70 hours!
So Blockchain comes along, and I see an opportunity to unlock this value! This began my process of conceptualizing our product, HiFi Gaming Society. We believe we are creating the Youtube for Video Gaming.
SESSION PROJECT INTRODUCTION
Q1. Can you explain what HIFI Gaming Society is to our community and what problems ultimately led you and your team team to create this project? What do you want to offer the users?
HiFi Society : As I was saying. I wanted to find a way to unlock the value of time investment we, as gamers, contribute to our games. You know how on youtube, users would upload videos and at first, Youtube would take down the content if “the youtube police” found something uploaded by someone who wasn’t the content creator….
But then an incentive structure to help keep users happy by keeping the content up was created. They used ads and other incentives to reward the content creators.
So……I thought to myself…..!
What if we combined those concepts into a gaming platform?
I also thought current games have a large learning curve, you must invest so much time to learn the game, the controls. What if we can jump in for 5 or 15 minutes, play our favorite games from the past, and get our daily thrill?
We have built a platform that allows blockchain gamers to develop themselves by playing retro games, earn rewards, and are building an ecosystem around this concept, in a way, that brings gaming developers, gamers, and investors together.
HiFi Gaming Society is a Play-to-Earn Retro Video Gaming platform and we’re building an entire ecosystem for the blockchain gamer to develop a reputation to build stats, eventually compete in contests, and tournaments. There will be additional things we will build like Game Farms, NFT Marketplace and all that but first, we want to build our base around gaming.
Q2. You said that “The current DeFi doesn’t offer the serious gamer a pathway to professional gaming on the blockchain”. So what do you think are the drawbacks of other game-based projects and what makes you believe that HIFI Gaming Society can solve this problem?
HiFi Society : At the heart of this question is your time, your focus, and your return on investment. Can you name a product allowing you to give your time and focus for 15 minutes a day where you feel like you get more than is taken from you????!
This frustrates me about modern technology and social platforms. Beyond gaming products, we are robbed of our time and personal information. We feel like the users are the most important asset in the equation and they should command the value, not the other way around.
As far as other gaming products, I believe there are interesting, modern-style blockchain gaming companies innovating and there is room for everyone to build their world/metaverse! What is good for one blockchain gaming company is great for the others. We recently witnessed a bell-weather indicator with a #PlayToEarn platform taking the imagination of crypto in this strange market condition we are experienced.
What it tells us is GAMING is the way to break away from the bear market trend.
#PLAYTOEARN in blockchain gaming utilizing NFTs and Rewards is the next big wave of innovation in blockchain. We are next in line. This is us and so much more!
Q3. I see that HIFI Gaming Society wants to connect Game Developers with gamers through Cryptocurency. Can you explain in more detail how it works? What kind of relationship do you want to create between Game Developers, Gamers, and HIFI Gaming Society?
HiFi Society🙏 : I love your questions!
First! Please bookmark hifigamingsociety.com to view our mission and vision around Gaming, Blockchain Gamers, and Game Developers
How do we intend to evolve the relationship in a win-win fashion?
We intend to reward game studios and game developers in the same way youtube rewards content creators, but with HIFI, based on a gamers participation (play time, # games played, other engagement factors) per game listed by a 3rd party gaming company/developer.
If you are a gaming developer, DM us! If you are a gaming company, please reach out! These conversations are actively happening and we want to learn more so we design the financial model correctly!
So, effectively, the more a game gets played (and we can incentivize them through contests/competitions/sponsorships/ads/so many possibilities here!) on our platform, the more you will earn as a Gamer, Gaming Developer/Studio, and the more the product/company will grow.
Q4. Play, Earn, and Boost. To unlock this features users need to deposit HiFi tokens then stake it on the platform right. So for now where can users buy the token? If the token haven’t launch yet when can we expect it? (Maybe you can also explain to us about how this deposit things works)
HiFi Society : Buy HIFI at https://apeswap.finance. ApeSwap launched our token into their Jungle Ecosystem. We are a proud and excited member of this growing ecosystem!
We had a very successful IAO through Apeswap, where we aimed to raise 500K–1M and it turns out there was so much appetite for the product, 27MM came in!!! We oversubscribed by roughly 5000%.
The product will require users to stake (deposit) tokens onto the platform to activate certain features. Users will stake HIFI tokens to:
1) activate the actual gameplay (PLAY)
2) activate the rewards you can earn for playing games (EARN)
3) and you can buy items and first HiFi branded NFT to boost rewards (BOOST)
As a user, you can earn rewards (more HIFI tokens) by “participating” in the platform. Participation is based on specific criteria:
# Daily Logins
Total Play Time
Plays Per Day
Let me show you some screenshots!!!!
We are building your gameplay scorecard and statistics so you can prove, as a gamer, how strong your reputation is based on your gameplay performance!
Q5. Untill now, what things have you prepared and what kind of partnerships you have in the future, so that this project can develop rapidly?
HiFi Society : First and foremost our flagship partner is with ApeSwap. They made the decision to host our Initial Ape Offering (IDO) and it was wildly successfully. Like a said before we were over subscribed by 5000% around 50X what we aimed for in terms of investment. So we know there is a strong appetite for what we are building.
This partnership continues to grow as they are our primary exchange and the only place you can buy HIFI right now. We also have extended relationships in “The Jungle” ecosystem that ApeSwap has done a fabulous time building. We will continue swinging on vines together.
We’ve started discussions on several fronts including gaming companies/developers, to attract GenZ and other gamer audiences, other gaming developers who can list their games to reactivate their audiences, discussions with influencers, twitch streamers, other blockchains who asked us to expand (2 at the moment we are holding on until after we build value in BSC ecosystem post launch), and we are also talking with big-time crypto companies to prepare for the next levels of scaling when we hit our milestones.
Interest is coming from everywhere right now and we are building internal tools to filter signal from the noise, prepare for scaling, and we have hundreds of beta testing gamer partners active in our discord gaming community. Come join us! Maybe you’ll get lucky and gain access to our platform, we are interviewing testers. 😉
SESSION QUESTION FROM TWITTER
Q1. From @AdamMane1
Gaming is one of the biggest industries getting into crypto, so it calls my attention that within the 3 priority usecases, the less prioritary is actually gaming, do you intend increasing the development of gaming facilities in HIFI GAMING SOCIETY ?
HiFi Society : I wouldn’t say its less of a priority with the gaming use case, we believe it is the most underdeveloped use case in crypto, compared to the other primary use cases, and we aren’t ignoring any valuable use case in decentralized finance. We, in fact, are making sure we are more strategic about how to protect the company in the long term with a use case that isn’t as impacted when the bear market cycle begins. Gaming is the answer to user adoption, daily engagement, growth, revenue development, partnerships, and so much more. HiFi Gaming Society, the brand will evolve and create pathways of value for users.
We have secret sauce that, in time, we will showcase, a scalable model that is designed to consume all gaming facilities inside and outside of crypto. It is very exciting to see what we can do. We effectively will become the Walmart for gameplay and the Oracle of data for gameplay analytics. I can’t think of a platform besides Steam that might have the capabilities we are growing inside our company as far as IP and technical assets. It’s quite exciting.
After our gaming base is showing strong signals of growth, we are concurrently building DeFi products into our platform including Yield and NFT Marketplaces. Our innovations have been injected inside ApeSwap’s ecosystem and now we get to see the performance.
Which brings me to one more point. We have an active and passive investment strategy. Passive approaches don’t work in crypto in the bear market. So we believe we are building a platform that can respond in competitive ways to bull or bear market forces.
Q2. From @UmmeHab53626731
The security system of a company is very important. In order to avoid hackers, How do you do to the security of a project? Do you have a special security system for your project / company? And do you also provide special security guarantees for users / investors?
HiFi Society : Security is most important. It is our responsibility to protect our investors and stakeholders at all cost. We see even in the past week there were more violations from bad actors hurting popular projects.
We have auditors to help us evaluate the safety of our code. HashEx is doing an amazing job providing due diligence on our code. Especially in new projects with new innovation. There is no template! Test in product is very risky. We have testing servers, staging servers, and production servers and our pipeline of quality code will continue.
✅ We also have quality assurance talent on our team and we will continue working closely with security consultants to protect the community.
Additionally we have locked up a good portion of the supply and we can reference those links in smart contracts after the AMA, we will put them in our gitbook also. (https://hifidefi.gitbook.io/hifi-defi/)
Team tokens are 100% locked up already in a 12 month structure.
Q3. From @SyminuL
What was your Motivation to build Your Project ? and what is your vision and mission now? What factors will be responsible for the growth of HiFi Gaming Society in the upcoming years ?
HiFi Society : There are stories I enjoy reflecting on from my past. I think a lot about growing up in my family. It sort of evolved out of a personal obsession with all things nostalgia.
I love the era of the 70s/80s/90s and my family has roots in owning a Vinyl Record Store in the Upper West in Manhattan, NY.
Also big fan of pop culture and movies like Hi Fidelity (even the new show), and ultimately looking back on the gaming revolution of 80s/90s with all the classic consoles. I was an avid reader of all the gaming publications and magazines. I loved my Electronic Gaming Monthly. Every month with my subscription.
I wanted to bring back a name that represented so much we could use to help gamers and customers escape, reconnect to that Nostalgia available to each of us. HiFi also came to me in neon lights and I began expanding thinking that this is more than a product, this is an experience for people to renew themselves daily, remind themselves of a more simple time, and hopefully make an impact in the daily lives and headspace to help people find meaning. HiFiSociety is an experience we will create within the brand and HiFi Gaming Society is the first experience we are introducing with gaming
NFT is considered the next trend of the crypto industry after DeFi. Could you share Gaming Society opinion about NFT? Where do HiFi Games see the future evolution of NFT features and capabilities in the next few years?
HiFi Society : We will have different types of users (Gamers, Farmers, 3rd Party Gaming Developers).
There will be a journey for each of these experiences tailored to each type of user’s engagement level. The more engaged a user is the more enriching HIFI experience.
The roles and privys each user has will eventually get defined by their NFT access and ownership. We also have innovation we are protecting around NFT utility. I don’t want to share too much about our NFT Gateway but it is pushing NFT’s forward. Stay tuned!
Users will also have options to bypass engagement with NFTs! So you see our NFTs will be equivalent of easter eggs or warps to a high status of reputation in our ecosystem.
Ultimately, each journey will end with access to HiFi Society and I will share more about this down the road. This is where you want to be if you buy into the HiFi Gaming Ecosystem.
HiFi Society. Our VIP program can be achieved by attained with a high level status and reputation based on engagement and community involvement in our platform.
Q5. From @Debby9900
It took my eyes that Elite users (HiFi Society) will gain access to the HiFi Society #VIP_Program for Perks, can you explain what the mission & purpose of deploying this program is? Mostly how do users get the privilege of getting into the HiFi Society?
HiFi Society : Who remembers the movie Hackers from the 90s. Remember during that tech boom, users wanted to be ELITE!
I encourage everyone to listen the podcast we did with ApeSwap. I go into detail talking about HiFi Society.
HiFi Society is a culmination of the experiences our community wants to live. Whether you are a gamer, game developer, farmer, NFT artist or enthusiast. We all aim to live a better life and we will do it inside the services and experiences offered by HiFi Society.
I like to describe it as a speakeasy similar to underground Studio 54 where eclectic esports Blockchain Gaming Celebs mingle with NFT artists, Product Developers, Thought Leaders, Celebrities, and where all the important conversations are happening. The marketplace for ideas that push the industry forward. The place where relationships are fated, all buy the backbone of the HiFi Ecosystem, as it relates to our shared interest and unity around whats happening in Gaming, DeFi, Crypto, and Community. We want to drive these concepts forward simultaneously while giving the users experiences of a lifetime.
After we build the Gaming, Yield, and NFT Layers, we will have a mobile app that will effectively become your portal to these experiences, partnership discounts, exclusive events, opportunities. It will be your gateway to the better life you will have for participating in the HiFi Universe.
I have had the benefit of working with founders and other leaders from….
LVSC aka Venetian & many other startups, enterprises!
These ideas are a culmination of how these companies implemented reward programs, VIP, and customer experience. You are all in for a treat with HIFI when we lever up.
Join our mission! We are growing. We are about to share more about our value system and how it defines us as a community. Our first value is UNITY and we are running new campaigns to prepare for our upcoming MainNet launch. We’ll be deciding as a community what the next game will be to release!
Come join the fun! https://t.me/HiFiGamingSocietyPlatform
In the spirit of Unity, we will kickstart our weekly “HiFiver’s Unite” voting contest!
Every week, our community comes together and decides one game to be released each week.
SESSION FREE ASKING
Q1. MR.Hok : Are you going global? Or is there current target region that your project working on at the moment? Any possibility for recruiting ambassadors?
HiFi Society : Yes! We are global. We have teams distributed in pods across every region, with hubs in Hong Kong for engineering, product and operations is growing within Europe/Netherlands regions, and we also have seasoned talent in blockchain strategy and revenue growth within the States…..our team is around 10 core people and another 10 we’ve brought on recently.
As we have a global team, i think is important in blockchain to consider all different regions; we have people in the US, europe, asia. We combine the youth with the experience, but most of the team have already worked in blockchain in some capacity.
We have security measures in place internally across the company. We are safe and it is my responsibility to ensure this is the case.
More importantly, we believe it is the decentralized structure that allows us to grow everywhere organically and ansynchronously.
Q2.ben Stokes0033 : Most solid projects with token utility and good infrastructure but perform poorly because investors dumped after listing on the first exchange. How do you prevent early investors from dumping your tokens?????
HiFi Society : We’ve spent time developing our token workflow. We also act as treasury inside our ecosystem helping to protect the health of the market. I encourage everyone to review our litepaper that breaks down our tokenomics! https://hifigamingsociety.com/litepaper.html
Q3.Prooo : Does your project also provide a platform for Dex, STAKING and Farming in future plans? To increase profits for token holders?When do you think of integrating other blockchain into the project like BSC, HECO? Any plans for higher coverage?
HiFi Society : Yes. Here is the outline of how we will implement the various layers:
Here is the short term gameplan…..
First we launch on MainNet. Users will have to buy HIFI to play, earn, and boost rewards 30+ games in platform, another 100 on the way. However, only 10 available at launch, and 2 new games (1 voted by community) weekly
Users need a way to spend their HIFI earned by gaming!
NFT Gateway building alongside NFT Marketplace and Auction platform
NFT minting (exists in admin panel) We mint NFTs for access to Game Farms
We Auction Game Specific NFTs
Users use NFT Game Farm for entrance into Exclusive Game Farm
+ NFT Marketplace
+ NFT Auction ———-> +NFT Game Farms
Then we build……
+Games inside Game Farms
+Contest / +Versus Mode Feature
+Annual Blockchain Tournament
Brick by brick we are building our machine.
Q4.GB Show : Many new projects made a good impression at first but were suddenly abandoned. How will you manage Your project to gain a place in the market and become a best token in the blockchain world?
HiFi Society : We are so early to the blockchain gaming revolution. When we launch we will see the appetite of our offering. We’ve designed our growth strategy in a way where more and more retro games will become available in the same way Youtube launched more and move videos, continuing to grow their platform. Every project needs to sustain itself with a repeatable, scalable model. We have this. Other projects are abandoned because they are a house of cards and we are Noah’s Ark during any Crypto Flooding with the bear market.
The foundational layers in team, community, technology along with people processes, and resources are strong and safe for the longterm!
Brick by brick we are building our machine.
Q5.Edward : There were many gaming and NFT platforms are out in the market,would you mind tell us what is the greatest potential of Hifi Defi that can turn our head to give more interest in your platform? What factor will makes you stand on out?
HiFi Society : Our X factor is NOSTALGIA. It permeates every user in different ways, recalling memories, emotions, and experiences remembered for a lifetime. It is the best feeling and the best way to encourage user retention. We have only begin building our nostalgia distribution sytem. 😄
Our technical X factor is our highly scalable gaming, data, and gaming analytics marketing infrastructure. Endless gaming, rewards, and endless nostalgia.
Thanks again everyone. A great place to begin your discovery is listening to me introduce our HiFi Gaming product and future HiFi Society experiences.