AMA Recap: AceStarter
- Time: March 9th, 2022 at 2PM UTC
- Project name: AceStarter
- Host: Kenny from Blockchain Army
- Guest speakers: Jason Tran
- Main content:
- Unique selling propositions
Part 1: INTRODUCTION
Would you like to introduce yourself a little bit to our lovely audience right here?
Jason: Hello everyone my name is Jason and I am the co-founder of Appota group and now I’m the CEO of AceStarter and it started as one of the blockchain projects that is backed by Appota group. I’m so happy to share about the vision and the model and anything.
Can you share the overall vision and what AceStarter is all about?
Jason: It is a project that is backed by a product group where I am a co-founder well. We have 10 years of experience in the market and we are one of the biggest gaming publishing companies in the Vietnamese market. As we are officially coming to the blockchain market since June 21st and we have developed two platforms. The first one is ChainVerse, which is a blockchain infrastructure company for the NFT games and AceStarter is a long patch to support a marketing platform for the crypto products. As, our model is very different from others in the market right now and we also want to be a world-class marketing platform for crypto projects, and one of our keys is based on the community. Our model is users-eccentric so all the features on the model we design are for the small budget investor in the market and we also offer one all-in-one solution. We provide at the same time some services for our crypto projects including the IDO and INO, mystery boxes and we also have a new model that is IMO, which is initial marketing offering integrated into AceStarter, where we connect with the crypto KOls and the community as well.
Can you share more about the USPs of your model?
Jason: We raised our project in a new model that is the hybrid model where we raise the money that is for our project to run in a very short term and the second thing is because we follow the launch so there is no gap between the investors. Right now you can see in our tokenomics the private round and the public round have the same price so no one can have the better price. With this model we saw that it had the potential to be quite a risk for the investors especially for the people who come to the project late, so we decided to change to the model. We decided to unlock all the tokens at the TGE and then they can use all the tokens. The second point is we integrate all the fundraising models inside the launchpad and more importantly, we don’t want to make AceStarter a boring long patch. That’s why we integrate more and more mini-games and entertainment aspects into the long patch. Another thing is in our model, you can see almost all the launchpads in the world right now are all tier-based models, where users might buy a lot of tokens of a launchpad and then they block in a period of time from three months to a year. However it is still quite risky because the price of the launchpad will decrease much, so maybe in total, you may lose more than you gain. That’s why we change the model. We do not follow tier-based mode, instead, we follow the subscription model. With a small amount of money for a month, users can have access to all the IDO, INO, and deals on AceStarter. Another thing is in our system we design some anti-inflation mechanisms, including the AvaAce. The last thing is besides AceStarter, we also have Chainverse.org, which is also a product in our ecosystem where many traditional games come to integrate ChainVerse, and then it’s become a blockchain game and then when they want to do the marketing they want to do the fundraising or the community, etc, they must cooperate with AceStarter and that is good sourcing for AceStarter.
What steps have you taken to improve and or grow your community?
Jason: Currently we are very focused on the global community and initially we are still focused on Telegram, Twitter, and Facebook because, in different countries, social media is quite also different. That’s why one of our strategies to grow the community is we are still recruiting more community managers in different countries especially in different time zones to support everyone on our channels. Another thing is we also integrate some strategies related to our strength in the traditional business. Firstly is organized the esports based on the gaming for the esports on the live streaming and many strong points. we can explore from the chinese node one and to move into this another thing is on our experience of the user we want to improve based on some function inside the product firstly you can see that there’s a pin point of every long patch if you already use one of long path in the world right now and after some months you bought after more than 15 projects i like that it’s so hard for you and you are so lazy on a claim unclaimed the tokens one by one manually so crazy that’s why we we know that is open point and in our smart contract already have a arise that’s ask you to authorize to us in case you want us to to claim the owner token for you and then if you mind you just come to the wallet and then you claim it no it’s no need to claim you just come to the wallet and you see the token already there and you sell it that is so easy that is one example in terms of the user experience we want to serve another thing is another thing is as i mentioned before we want to make a starter will be more entertaining and more interesting along patch that’s why we cooperate we we do the game mini games by ourselves also cooperate with some panels to integrate into our in our gmy zone i mean the gami zone where you can see a lot of entertaining games small games there and then you can achieve the asta the apoy and others you can achieve on that you can get it on that so we send you that will be much more than the investment ideal buying and investment you can entertain in our ecosystem that’s the way we are doing on that and in the future because we are in the traditional business we are still one of we are right now in the exclusive partner of facebook gaming in vietnam market so so we are have to leverage and managing more than 700 kol traditional kol so we are also because of that we have to expertise on the kol on the live streaming and hopefully in the future we will have a function to to do to integrate the live stream function into the long patch what happens if you go to a starter and not only you are not buying the the audio of the game but you see some live stream as a game from the good players of that game and so because we want to to to make sure with you that you come to a starter not only because of investment because of the more and more than that that is entertainment
How will Ace Starter solve the existing DeFi problem like gas cost, complex DeFi strategies, and fraudulent projects? How can Ace Starter help increase your clients’ investments?
Jason: So the main challenge for us was getting some interest from investors and what was happening is that we bootstrapped your first application out of the four that is going to be the Ace Starter. We financed this ourselves. We have been working very hard for the last seven months to create something to show the investors because we believe that there are a lot of projects that are promising to the world. They are creating a wonderful pitch and blah blah blah but afterward, they can’t deliver on the promises. What we really liked to do as we are first we are kind of like no-nonsense, so we wanted to first create it and finance it ourselves and then come to the investors and show them “hey we have a wonderful idea and we developed the first application ourselves already so you can know that we are capable of delivering our vision.” And then two months ago, we finished our beta. Then we started to contact some of the investors and we made a complete list of over 120 to 130 investors. We emailed every one of them via Linkedin, Telegram, whatever needed to be done, but we got zero response. That was kind of quite frustrating because the whole play-to-earn games where everything was going up and up and there was a lot of VCs’ money throwing around but they had those projects that didn’t have anything to show for. That was kind of frustrating for us because we’ve been working our ass off for the last seven months and we come to you and no one is responding so that was quite difficult for us. Luckily we haven’t given up and we got in contact with our elite VC that is Magnus Capital and Magnus has provided us with interest. They have taken a large sum of our capital in the seed sale and then they introduced us to their network and mostly to those same VCs that hadn’t responded first at us. Only now those same VCs were interested because Magnus has fought for us. So that was very good but that was kind of a challenge for us because we know we have something really really good and we have a ready product and then we didn’t get any traction. That was kind of like a challenge we had to overcome but luckily Magnus did see the things we envisioned and they are very much behind in this.
Part 2: COMMUNITY Q&A
How will Ace Starter solve the existing DeFi problem like gas cost, complex DeFi strategies, and fraudulent projects? How can Ace Starter help increase your clients’ investments?
JasonJason: Let’s start off with the first one. The second one I don’t really understand. I believe that the main question is why AceStarter tokens will go up or how we will help project starters or people that invest in projects on our platform to increase their investment. So that is like a follow-up question. I don’t know if he can elaborate on that but in the meantime, I will give an answer to the first one. So gas costs are actually embedded into the chains. For example, Ethereum has very very high gas costs because Ethereum is being used that much. A lot of other factors make Ethereum a lot more expensive than for example Binance Smart Chain (BSC). This will be solved when Ethereum goes to Ethereum 2.0. When this is going to be we don’t of course but how are we solving gas costs I think the investors and the project managers can choose from multiple chains to get a gas cost and guest fees that they can find acceptable. For example, BSC has a very low cost. That’s also why AceStarter token is on Binance Smart Chain and not on the Ethereum network because of the high gas fees of Ethereum and the low gas fees on BSC. Our application can run on both and wouldn’t it will be running on both but our own native token will be held on BSC because of this particular problem. Complex DeFi strategies, I don’t know what you mean by this. Do you mean leverage farming laboratory arbitrage? It’s all DeFi strategies but I don’t know what you mean by the fraudulent project. We are actually implementing Know Your Customer (KYC), an automated KYC APY. Onfido is a partner of ours and it’s also being used by a lot of banks so you don’t have to fill in all your customer application forms or stuff like that No, you just are needed to take a picture with your ID or password or whatever some kind of identification form and your face next to it. The application will check this and you will be screened automatically so we keep it as decentralized as possible. No human errors, just a computer that is solving the KYC needs of AceStarter. That way we hope to only get a good project and that’s not the only thing we are doing. We also have antibiotics at a debuff mechanism in place for our pre-sales and private sales. Plus we have whitelisting services.
In the future, does the project plan to develop any other network besides BSC?
JasonJason: We have multiple chains. We are continuously developing other things. That answered the first question. For the second question, AceStarter Swap actually will not be an external DEX because for this simple explanation that if we were to create a new DEX, we are and will be the direct competitors on every chain to the dominant DEX. On PancakeSwap, we will go on minus marching; we will be a competitor of PancakeSwap. On the Ethereum team, we will be competitors of UniSwap or SushiSwap or whatever, we will have a lot of competitors. We really believe in adding to this system and not needing to have a 100% market share. What we are doing is we are creating AceStarter Swap as an interface to be able to access PancakeSwap or UniSwap or SushiSwap or whatever chain you are on through our network so that you are still keeping your ecosystem. You are still keeping your one-stop-shop but you will be using an external application on our platform so that we don’t have to be in competition with every DEX on every chain because it’s a fool’s game. We believe and also you know it’s better to be cooperative. We provide the customer a more convenient way. That’s also because a PancakeSwap or UniSwap or SushiSwap are already established so they have a very very very large user base. When we give them access to this, we really believe that those users could become users of the Ace Starter ecosystem because they can still access their DEX through AceStarter and they don’t have to switch DEX so they need to learn again how it works. No, they can just keep their wallet connected in the ecosystem, use the application we provide and keep on using the application you already use. I think you know a much smarter way of dealing with the product right now.
Can you talk about the fees that users have to pay when mint, launch, and lock cryptocurrency tokens in AceStarter? AceStarter Token is a token used to pay fees or can BNB, USDT,…?
JasonJason: Not sure about the last part of this question but let’s get started. So those fees will be paid on different chains. When you are using Minus Marching, you will be playing in BNB or BUSD because those are BEP20 tokens. USDT for example and Ethereum, those two will be used when you are using the Ethereum chain. When you are using Harmony chain or Avalanche the native tokens and one stable token on those particular chains will be used to pay for the smart contract interactions and the services on Ace Starter. So just to be, it’s the native token plus a stable alternative on every chain so we have two options
Web3 is an upcoming trend of crypto so what makes AceStarter stand out from other rival projects?
JasonJason: Web3 is kind of like a word that is being used for the next revolution in the internet and web. That is a new way of accessing restricted content. For example, you have on web2, you have Netflix, you need to log in or you need to pay for something then you have your content that is locked. In web3, if you are having one NFT or a token that represents your ownership or your ticket or something like that, you won’t have to have any login information. You will just have to connect your wallet and they can see that you have paid for something. You have that particular key to accessing that restricted content but that is one of the things that makes web3 so fascinating. There are a lot of things that are contained in web3 so it’s not only a trend. It’s not an upcoming trend of crypto. No, it’s the next step in our web, in our internet experience. So what makes AceStarter stand out from other rival projects? I believe that’s not a question that is correlating with the web3 thing but I can answer that question separately. As I said, we aren’t aiming for 100% market domination. We are having a market share because we have an ecosystem and we have different applications. All of our applications individually will have competitors who are already established but we have the same level of quality and hopefully a better user experience than every application separately. We really much believe in the power of convenience so that we don’t have to be 100 times better than our direct competitor but we only have to be as good as them to gain some kind of market share because we have our unique selling point is that we have everything in one place. We can move to different applications really easily and this will make sure that we can be in competition. We don’t have to win everything. We don’t have to eliminate DAO Maker or Polkastarter. No, we really believe that there is room for us at 20% or 25% of launching those particular projects. If you do that in every segment, every application, we are venturing into this so this will get us a lot of revenue. We can grow our platform exponentially so that’s kind of like our visionary idea. We can compete with every application individually. There is no one that can give the user experience that we are bringing to the table because they are all separate. We are one easy to use interface, one easy to use ecosystem.
NFT is one of the hottest and the most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? What is Ace Starter’s approach to the NFT sector?
JasonJason: NFTs are mostly being traded on the Ethereum network. What AceStarter believes is very important about NFT technology is the experience and represent value at different applications or at different points in time in the blockchain space. For example, one of the very useful things about NFT would be for streamers or creators. Let’s say you are a singer; you create a song in the traditional way; you will go to a recording studio or a record company. They will assign you; you will get your payday and you will get 20% or 15% of total sales so that is like a centralized system. It is like you have a middleman that gets a cut. What AceStarter and I in particular really like about the NFT is that you as a creator can cut out this recording studio. You can be in full control of your created content. If you have a song, you don’t have to pay uh or only get 20% of your work. No, you will get 100% because you will distribute your album or song or whatever as an NFT. Now what happens then is that your fans, you are fully funded and financed by your fans – the people that buy these NFTs. You will get a large community around it right from the start of your release. You get funded by your community, by the people that love your work. That’s one thing and you will keep 100%. The third thing is the royalties so when it’s being sold, not only will your community profit from this but you will also get something in secondary sales. Those are the three things that I really think will reshape the whole publishing, in the whole or artist world and I think that’s a very good place to start off exploring what NFT technology could bring to the table in the future. A lot of NFTs that are being created today are just pieces of art that are being sold to the highest point, they will get some hype, and eventually it goes to zero. That’s kind of my opinion on NFT for now but in every market, there will be some kind of NFTs that will keep on increasing in value just like in the normal art world because the Mona Lisa is not going anywhere soon and I don’t think. You will also have a different kind of NFT but I think 80% of NFTs that are created right now are not having any value in five years. On the other hand, the NFT technology behind it will have a huge impact on different industries and one of the examples that I mentioned was the artist industry and the music industry.
Up to now, Ace Starter has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.