AMA Recap with Xverse

On the 20th of August, 2021 at 13:00 UTC, Decentralized Club had the honor of hosting Brian Park, Global Marketing Director of Xverse, for an Ask-Me-Anything session on their Telegram page with a community of over 30,000 people. It was hosted by DC Admin, May.

 

The session was divided into four segments. Introductions were made in Segment 1, questions from the Twitter and website community were answered in Segment 2 and 3 respectively, and live questions from the community members in attendance were answered in Segment 4.

 

If you missed this event and would like to know what Xverse is all about, you can find a recap of the interview here. Note that slight edits have been made for clarity.

 

Segment 1 – Introduction

 

[May]

Hello, 안녕하세요, नमस्ते, สวัสดี, Selamat!

 

[Brian]

Hello 🙂

 

[May]

My name is May and I’ll be hosting the AMA with Xverse.

 

Today, we have with us a guest from the Xverse Team.

 

You’re welcome and it’s an honor to have you here.

 

[Brian]

Thank you and it’s my honor to be here with everyone today!

 

[May]

😊

 

Could you quickly tell us more about yourself and your job description at Xverse?

 

[Brian]

Sure! My name is Brian, and I am the Global Marketing Director for Xverse. I have been working in the crypto industry since 2017 and have led marketing for numerous projects and exchanges, and am excited to be working with the Xverse team. My role is to plan and execute the global marketing strategy, and ensure the steady long-term growth of our project, sharing the news and updates to the community, and finding new opportunities to grow our business!

 

[May]

That’s amazing!

 

Looking forward to an insightful session with you today.

 

[Brian]

Likewise!

 

[May]

Let’s take some project introductory questions, shall we?

 

[Brian]

Sounds good

 

[May]

Q1. Can you tell us what is the motivation behind developing Xverse?

 

[Brian]

Hello, thanks again for this AMA opportunity!

 

The motivation behind developing Xverse is simple.

As we all know, the Metaverse is the next iteration of the internet.

Yet, when we look at the existing services out there, most are targeting a younger demographic (Zepetto, Roblox, etc), and there is an association in people’s minds that metaverse = gaming.

The thing is, the Metaverse is much much more than that.

 

What we are creating is a social metaverse, a virtual second “world”, built on the basis of social interaction between users.

 

Imagine a virtual world similar to reality, where you will have the opportunity to interact with and partake in social activities which may not be achievable in real life.

 

We’ve seen from the success of social media that digital interaction is popular among all age groups, and we will be bringing this into a metaverse-based environment.

 

[May]

This is absolutely impressive!

 

Can’t wait to unwrap Xverse some more in this session.

 

Q2. Can you tell us about XBLOCK and XMARKET?

 

[Brian]

Sure, great question. XBLOCK is referring to our blockchain integration of the Metaverse.

 

Most of you here are already familiar with the benefits of blockchain technology when applied to traditional tech infrastructure, including decentralization, transparency, security, and trust.

 

Xverse’s XBLOCK is built to provide necessary elements for building a metaverse, and each element becomes its own module.

The functions supported by each module are available to be accessed via API in order to lower the barrier of entry for development.

 

Here’s a brief overview of the different modules within the XBLOCK infrastructure:

 

Controller — The Controller module is responsible for managing in-game currency, user reputation levels, user avatars, digital assets, and users’ cryptocurrency.

NFT Core — The NFT Core module provides the tools to create new NFTs

MyPick — The MyPick module provides the necessary elements for a metaverse-based marketplace.

CreatorX — The CreatorX module is a toolkit used to build the metaverse.

Wallet — The Wallet module functions as a cryptocurrency wallet for users.

 

XMarket is referring to the digital content marketplace in the Xverse ecosystem. Participants will be able to create, share, and sell metaverse content to each other!

 

[May]

🤔🤔🤔

 

Well understood!

 

Q3. What type of operating systems and devices can run the Xverse platform?

 

[Brian]

So initially the Xverse platform consists of two services, MyPick and Ro:Mong.

 

MyPick is our NFT collection platform, allowing users to purchase rare and exclusive NFTs commissioned on behalf of our partners.

In addition, users will be able to generate their own personal avatar and customize their avatar using NFT cosmetics.

Within the platform will be a social community where users can discuss and share their NFT collections, and also minigames including MyGround (decentralized board game), that allows users to bring their unique avatars into online multiplayer games!

MyPick will also feature a marketplace, allowing users to buy, sell, and trade their NFT items with other users!

 

Ro:Mong is our upcoming virtual world, where users will be able to freely roam around and explore various environments using their MyPick avatars.

 

Both services will be available for PC initially, with our open beta scheduled for Q4 of this year.

 

In addition, our android and iOS launches are targeted for Q4 2021~ Q1 2022

 

[May]

Good to know!

 

Q4. How do we acquire the $XVC token and why is it important to be held from an investment perspective?

 

[Brian]

XVC tokens will initially be offered via an upcoming IDO scheduled for sometime in September.

Afterward, we are working to ensure XVC tokens will be available on a global exchange as well.

 

The use case of XVC tokens is simple. XVC is the main currency within our Xverse ecosystem and will be used across all of our services.

In addition, we are constantly exploring new ways to incentivize and reward XVC holders.

From an investment perspective, we have to consider that the supply of XVC tokens is finite.

 

In most economies, currencies are normally inflationary in that the supply increases over time.

So I’m sure you guys understand that for example, $1 loses purchasing power over time,

and the cause of this is more and more dollars are printed and added regularly into the ecosystem to fit growing demand.

 

Now, in the XVC economy, the supply is finite, meaning that there is a hard limit and no more can be added. This means that devaluing through expanding the supply is not possible!

 

As the metaverse grows and more users enter the ecosystem, the demand for XVC tokens will naturally increase, and without the worry for inflation…… I think everyone can put 2 and 2 together 😉

 

[May]

Yes, we can 😉

 

Q5. What are the major plans on track for completion this year by Xverse?

 

[Brian]

So currently we are aiming to launch our MyPick service (NFT platform) in September, along with our initial set of digital collectibles!

(featuring popular K-POP artists ;D )

 

Ro:Mong (Metaverse) is planned for open beta shortly after in Q4 of this year as well!

 

 

We plan to continue to build on our ecosystem, offering new minigames, features, and tools.

Such as the launch of our MyGround minigame, that users will be able to bring their NFT customized avatars into and compete against other users!

 

A few things that we’re working on as well include “CreatorX”, our user-friendly studio allowing anyone to easily create their own NFT items and sell them on our marketplace.

In addition, our upcoming SDK for developers will allow developers to create their virtual worlds within our ecosystem, and we believe we are one of the first blockchain platforms to provide such tools to the public.

This is just a small taste, and like I’ve mentioned we are continually monitoring the market and trends, and plan on bringing services that can be enjoyed by all users globally!

 

[May]

K-POP? YESSSSS! 😁

 

[Brian]

Yup 🙂

 

[May]

Can’t wait 🎉🎉🎉

 

It’s now time to take questions from our Twitter community.

 

Segment 2 – Twitter Questions

 

[May]

Q1. How did the 1992 Neal Stephenson titled Snow Crash novel inspire the young Korean creators at Xverse to create Xverse?

 

Twitter Username: @TadesCorner

 

[Brian]

Great question! So in Snow Crash, we see an environment where the lines between reality and the virtual are blurred, and it raises the question of what is reality?

 

For example, when Hiro (the main character) is holding his Katana in a parking lot, and having a sword fight in the metaverse, we can see that it becomes hard to classify one world as real versus the other.

After all, which is more real?

 

The metaverse allows people to live out lives that they would not be able to normally. As the metaverse in Snow Crash allows players to use any avatar as their personal character,

While some players might be referred to as “gargoyles” in real life, they might be kings within the metaverse.

 

This concept of identity, and being someone new in a virtual world was a big motivator in helping us come up with the concept behind Xverse.

We all have fantasies and activities that we may secretly want to do but cannot share in the real world. We have all at times wanted to be someone else than who we are, and at Xverse, we want to create the tools to do so!

 

[May]

I see the vision clearly!

 

Q2. Numerous decentralized systems are inefficient and unreliable. How does #Xverse plan to create a more reliable and viable ecosystem? And do you have any solutions for preventing the gas issue from driving newcomers away from the NFT Metaverse?

 

Twitter Username: @Greyhair_08

 

[Brian]

I think we can all agree that there are benefits to both centralization and decentralization.

With that said, creating a reliable and viable ecosystem is a major focus for us, and that includes a positive player experience.

As a result, we have created a model that allows us to utilize the benefits of both decentralization, and at the same time maintain control over aspects of the ecosystem impacting player experience.

For example, while the interactions and user access to personal assets (xWallet) will be fully decentralized, the metaverse servers initially for example will end up being hosted on centralized servers.

 

In terms of the gas issue, our solution is to build our NFT ecosystem on the Solana network.

We understand that speed, security, and scalability are integral to a successful NFT ecosystem, and as a result, have chosen Solana. As our metaverse will allow users to transact in digital items, we need to ensure that users can make transactions with reasonable gas fees. In addition, as we plan to sell numerous exclusive limited supply NFT collections, Solana’s “Proof-of-History” allows us to ensure fair and transparent transaction history.

 

The bottom line is that the service has to be fun, fast, & easy to play. Then we believe new users will increase rapidly, not to mention we have a long-term strategy in place to bring new users onto our platform.

 

[May]

Great!

 

Q3. Xverse metaverse offers a virtual environment to experience. But, As far as I can see, the hardware for such a VR experience is still very expensive. How will you address this issue? And How will you make sure that the hardware for the Metaverse experience is available to the masses?

 

Twitter Username: @CryptoVortex2

 

[Brian]

A virtual environment does not necessarily have to be a fully VR experience.

For example, Roblox which is basically a 3d mobile game is a metaverse service.

 

While we do plan on eventually allowing support with VR hardware, targeting a mass audience and a large number of users is our main goal and we understand that VR hardware is not widely available yet.

As a result, our MyPick and Ro:Mong services will be available to access through your home PC without special hardware.

 

We understand that many people do not have PCs at home as well, as a result, we are developing mobile apps for the entire XVerse ecosystem, across Android and iOS.

 

[May]

Interesting! Can’t wait to give those apps a test drive!

 

It’s now time to take questions from our website community.

 

Ready?

 

[Brian]

Yup!

 

[May]

Okay!

 

Segment 3 – Website Questions

 

[May]

Q1. On XVERSE, what percentage of the trade of digital assets such as images, audio, video, 3D contents, 3D video, AR / VR stickers, games items, etc, goes to the buyer or seller, and what percentage goes to XVERSE?

 

Telegram Username: @Dhir007

 

[Brian]

This is a great question. So within our marketplace, the transactions of digital assets will be a direct transaction between the buyer and seller.

Xverse will take a nominal fee for facilitating the transaction, and while not finalized, the majority of revenue will be given to the seller.

 

In addition, users will be able to create and sell their own NFTs and digital assets, and we are analyzing existing competitors and creating a revenue fee model which ensures our marketplace remains competitive to creators.

 

[May]

Whoa! Yes to NFT studios and marketplaces! Yes yes yes!

 

[Brian]

https://t.me/decentralized_club/587813

 

[May]

https://t.me/decentralized_club/587814

Q2. How regulated is the metaverse? Is it entirely up to the community or do the developers play a more involved role?

 

Telegram Username: @cloudjumper97

 

[Brian]

Our idea is to create the tools and starting environments for users, and then give users the ability to create and design their personal space and environments.

 

Within our RO:Mong virtual world, user spaces will be user-created.

That means you will be able to design and develop your OWN space with your OWN rules.

 

With that said, we understand that by giving 100% control to the community there may be issues with illegal content, abuse, and other bad apples.

As a result, we are developing an in-game reputation system to ensure that harmful activity is highly discouraged and regulated.

 

[May]

Phew! Glad to know that there are checks in place!

 

Last website question.

 

Q3. Are there any plans to use XVERSE to hold virtual concerts where tickets can be bought with $XVC? Criteria for artists to organize this type of event on XVERSE?

 

Telegram Username: @zeybertn

 

[Brian]

Yes! This is one of our future plans. As the users of the virtual environment visit and hang out in will be user-created, the possibilities are endless in terms of what can be done!

 

Users can build their own concert hall, find artists and charge for entrance!

Some additional things that you can expect in Ro:Mong, would be to go shopping at a virtual mall, going on virtual dates with other users, skydiving off of mountains, anything that the user can imagine, will be available to do.

 

In addition, our reputation system will incentivize high-quality work, and by constantly providing good content and showing yourself as a good contributor to the community, on top of personal fame, we think that users will have many opportunities to grow their own personal goals and brand.

 

[May]

I agree!

 

The potentials to XVERSE are endless.

 

We’re only 70% done with this session but I’m 100% impressed with Xverse.

 

Great job by Mr. Park and the amazing Xverse Team.

 

[Brian]

https://t.me/decentralized_club/587824

 

[May]

https://t.me/decentralized_club/587825

 

[Brian]

Thank you 😉

 

[May]

You’re welcome!

 

It’s time for the most popular segment of the AMA.

 

In this 4th segment, I will open the group for some seconds for the live community to shoot you some pressing questions.

 

Please pick four original questions to answer.

 

Try to ignore generic, vague, and copy-paste questions 😊

 

[Brian]

Got it!

 

[May]

The group will be unmuted in a bit with slow mode.

 

Ready to be flooded?

 

[Brian]

@xversecommunity

 

🙂

 

Ready May!

 

[May]

Alrighty!

 

Group unmuted in…

 

3

2

1

 

—Chat was then opened for the live community to send in their questions—

 

Segment 4 – Live Questions

 

[May]

Please select four questions now.

 

[Brian]

Thank you, so many great questions!

 

[James]

Who are Xverse partners and investors and how can one know more about your project?

 

And is Xverse an active community?

 

[Brian]

First, we have closed our Seed and Private rounds and raised over $2.7 Million, from major investors including Animoca Brands, Vestigium, Genesis Block Ventures, and many other great firms!

 

We’re very thankful for the support from our early investors and are constantly working together to ensure long-term success.

 

https://www.prnewswire.com/news-releases/xverse-completes-strategic-investment-round-to-debut-metaverse-nft-marketplace-301313461.html?tc=eml_cleartime

 

Funds are not an issue, as our investors truly believe in what we’re building and have pledged their support.

 

In addition, we have set aside our budget for years of runway and complete development of everything we’re planning.

In terms of our team, our team consists of experienced C-Level executives from major successful companies, and have built many successful startups in the past.

A large number of our team was educated overseas as well including at the University of Austin and UC Berkeley, and as a result, we understand how to succeed not just domestically but in a global market.

 

Our community can be found via telegram @xversecommunity

 

along with following our Twitter for the latest updates https://twitter.com/xverseofficial

 

[May]

3️⃣ more questions to go! 🎉

 

[Mohadev]

What strategy will be used to expand globally?

 

[Brian]

Thank you for this question. So currently we are working with global partners, and developing strong loyal communities across different countries including South East Asia, Europe, and the Middle East are major priorities for us. We have a large network of global partners who are excited about the $XVC metaverse and are working with us to ensure that we grow strong communities across various regions.

 

We understand that English is not the first language for most people globally, and as a result within our Xverse metaverse, users will be able to form their communities based on their interests, experiences, and interact in a language that is native to them!

 

[May]

2️⃣ more questions to go! 🎉

 

[Queen]

Would two avatars likely be the same on Xverse?

 

[Brian]

So technically it is possible….. but here’s something fun:

 

We have created our facial recognition engine that will analyze a user’s photo and measure 40 unique traits.

 

https://xverse-official.medium.com/xverses-facial-recognition-technology-5c24c9baa8a

 

Our deep learning algorithm is learning from over 10 million images, so we expect real user avatars to have infinite customization options.

 

So while users can choose to customize their avatars from millions of possibilities, and two avatars may overlap it is unlikely that two users will have the same avatar!

 

The only thing I could think, for example, one of our first NFT collaborations is with Korean Rapper DOK2

 

https://en.wikipedia.org/wiki/Dok2

 

 

and in the future, we will have customizable avatars modeled after celebrities. We do think that fans may choose to play as their avatar within the metaverse and customize their favorite celebrities with NFTs!

 

After all, it is the metaverse and everyone is free to be whoever they want to be!

 

[Sowrove]

How are you open to community participation in your platform? Are you open to any suggestions and reactions from the community?

 

[Brian]

Community participation is at the foundation of our Metaverse, and we place utmost priority on encouraging community participation.

So to answer this, we are always open to suggestions and comments from the community.

 

 

We understand that without community, we have nothing, and as a result, we have the utmost value and respect for all of our community members!

 

 

In fact, we would love to have you, and everyone join us on our telegram t.me/

xversecommunity

 

I can personally promise you that I am always available for you to personally PM and we can discuss in detail your feedback and suggestions!

 

[May]

Aaaaaaand it’s a wrap! 🎉

 

[Brian]

https://t.me/decentralized_club/587991

 

[May]

Thank you, Mr. Park, for being our guest today.

 

I had a great time interviewing you!

 

Any closing remarks before we end the session?

 

[Brian]

Thank you for having me here today, it was an honor to speak with every one of you, and I’m sorry that I couldn’t answer every single question asked 🙁 I really want to!

 

 

 

I personally do invite everyone interested in seeing what the future metaverse looks like to our telegram t.me/xversecommunity

 

In the words of Mark Zuckerberg, “The Metaverse is coming”, and we’re excited to be at the forefront.

 

 

We have a lot planned for the next few months including our MyPick launches, our IDO and Listings, Our NFT Marketplace, our board game, and many more exciting things.

 

I have a lot of respect for everyone here, as we are all here today because we are interested in blockchain technology and can understand the future potential of blockchain and how it can change our lives.

 

We at Xverse are building something great, and we would love for everyone here to be a part of it.

 

Thank you again for your time today everyone.

 

Hope to meet you in the Metaverse!!

 

[May]

https://t.me/decentralized_club/587996

 

What a remarkable remark! 😁

 

[Brian]

https://t.me/decentralized_club/587998

 

[May]

We’ll stay glued to your channels for more information!

 

Personally, I want to buy a yacht in Xverse so I can’t wait!

 

[Brian]

I’ll be your first guest Captain!

 

[May]

Welcome aboard sailor! ⛵

 

😁😁😁

 

Do send our regards to the rest of the amazingly amazing team at Xverse!

 

[Brian]

Of course! Thank you again for your time 🙂

 

[May]

Thank you too!

 

Until next time, enjoy the rest of your day!

 

[Brian]

Likewise!

17 thoughts on “AMA Recap with Xverse”

  1. Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something.

    I think that you can do with some pics to drive the message home a little bit,
    but other than that, this is excellent blog.
    A great read. I will certainly be back.

    • Telegram Username: 937 32 578
    Reply
  2. Hey I know this is off topic but I was wondering if you knew of any
    widgets I could add to my blog that automatically tweet my
    newest twitter updates. I’ve been looking for a
    plug-in like this for quite some time and was hoping maybe you would have some experience
    with something like this. Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your new updates.

    • Telegram Username: 0761 74 61 91
    Reply
  3. Hey I know this is off topic but I was wondering if you knew
    of any widgets I could add to my blog that automatically tweet
    my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this.
    Please let me know if you run into anything. I truly enjoy reading
    your blog and I look forward to your new updates.
    asmr https://app.gumroad.com/asmr2021/p/best-asmr-online asmr

    • Telegram Username: 540-453-7333
    Reply
  4. Heya i’m for the first time here. I came across this board and I find It
    truly useful & it helped me out much. I hope to give something back and aid others like
    you helped me.

    • Telegram Username: 08295 58 47 67
    Reply
  5. Hi! I realize this is sort of off-topic however I had to ask.
    Does managing a well-established blog like yours require a massive
    amount work? I’m completely new to writing a blog however
    I do write in my journal daily. I’d like to start a blog so I will be able to share my
    own experience and views online. Please let me know if you have any ideas or tips for brand new aspiring bloggers.
    Thankyou!

    • Telegram Username: 06188 19 65 75
    Reply

Leave a Comment