A week ago our media relations representative Derek conducted an AMA session on Telegram with Hans Koning, a MetaBrands DAO member. The following text is a literal transcription of the AMA, for those of you that missed it.
Host: Welcome Everyone
Thank you for taking the time to be here today! My name is Derek, I will be hosting our guest today! We are happy to have MetaBrands here today with us to answer some questions and help become more informed about the project.
Can You Introduce yourself to the community?
Hans: Absolutely!! First of all, thank you so much for having us. We’re super stoked to be here.
Hello everyone, my name is Hans aka Gandalf, and I am one of the DAO advisors for MetaBrands. I have been embracing new and emerging technologies for more than 25 years, and live by the motto “Even if you fall on your face, you are still moving forward”. Am committed to learn and guide new technologies in finding their way into society. Find it important what technology can do socially, economically and as a tool for personal empowerment. I have been in blockchain for 5 years, and like to support all sorts of projects. I have co-founded the DigiByte Foundation (another great project), and was its first Chair. Am currently also doing a PhD focusing on governance in the decentralized blockchain. Keywords: decentralization, web3 (permissionless, open source, trustless), governance, metaverse, self sovereignty (SSI).
Host: That’s great, Thank you for sharing! Happy to have you here Hans! So I guess my next question would be… Can you briefly describe what your project is for us?
Hans: Absolutely! In short, MetaBrands is a Metaverse Resource DAO that governs and manages assets and resources within the Metaverse. It does so to grow and generate yield on a monthly basis, while allowing instant exposure to the top play-to-earn ecosystems.
As a Metaverse Resource DAO we are a decentralized autonomous organization comprising the 12 core advisors, MAGE Relic owners, and MAGE token holders. This collective will govern and manage the assets and resources within the Metaverse in order to grow and generate yield on a monthly basis.
DAO participators will be able to vote and create proposals around 3 fields:
- Operating Protocol (Core),
- Contribution Strategies (Strategy),
- Resource Deployment (Resource).
This allows each and anyone of us to participate in, or get exposure to the Metaverse without the need for in-depth technological knowledge or network. So even for people like me!
Host: People like me too! 😄 Interesting… Can you explain to us what makes your project different from other competitors?
Hans: One of our favorite aspects of MetaBrands is really the meaning behind the name. MetaBrands, contributing and supporting brands (ecosystems, projects, games) that we feel are meta. This is one unique aspect about MetaBrands is that it actually thrives off creating symbiotic relationships with other projects.
No other project, to our awareness at this moment in time, is doing exactly the same as MetaBrands. There may be bits and pieces that are similar with other projects, but MetaBrands is a culmination of many different unique pieces that create a true Gateway to the Metaverse.
That is also reflected in our DAO Advisors team: specialists in the fields of web3 and blockchain core development, decentralization and governance, finance, branding and design, marketing and content creation, gaming and eSports, community growth, and positive social influence. Collectively over 30+ years of experience in the realm of blockchain and cryptocurrency.
MetaBrands seeks to contribute to the Metaverse through elevating other brands, projects, and games first. One distinct method that MetaBrands looks to expand upon is interoperability and limitless use cases through the MAGE Relic NFTs as a “multi-pass” to the metaverse. That we do not only believe, this is what we are passionate about.
Host: Great! thank you for the lengthy response, Let’s first talk about your token, what is the use case and why is it needed?
Hans: Excellent question: love it! The governance and utility token within the MetaBrands ecosystem is called the MAGE token. There are a handful of immediate use cases for it, as well some fun, future integrations we have in mind. Upon the immediate launch, owners of the MAGE token will be able to participate in the DAO via the Snapshot.org platform.
Additionally, the MAGE tokens are used to sacrifice or burn for minting the MAGE Relic NFTs, which also come with a long list of utilities and benefits like payments, liquidity mining, whitelisting, and discounts (when used to purchase assets directly from MetaBrand’s Treasury).
Most individuals will probably be interested to acquire MAGE tokens in order to mint the NFTs, which qualify owners for monthly yield via MAGE airdrops and access to private allocations in MetaBrands Ventures (new projects related to metaverses and play2earn models).
Host: Very good, Does MetaBrands support staking programs? If yes, how does your stake system work, what is the requirement for users if they want to stake in your platform?
Hans: In short, MetaBrands will support any project that the community and DAO supports, it is not limited to any particular type of project or blockchain. Additionally, MetaBrands will offer “Liquidity Mining”, which some people interchange for the term “Staking”. This program will offer 20% of the total supply, which is 20,000,000 MAGE tokens over a period of 5 years. Like other similar programs, this will require a user to add an equivalent amount of ETH and MAGE tokens in the Liquidity pool on Uniswap.
Host: Definitely looking forward to participating in staking rewards! Most NFTs games currently suffer a low player base due to expensive initial cost for a new player to take part in the game. How do you attract a large group of players? Can you talk about some of your features?
Hans: That is true unfortunately… It can be a high barrier to entry from high gas prices or the cost of NFTs to play the game is certainly a way to stunt growth and limit who is actually able to play the game. One of the biggest problems we see with a lot of current blockchain games is scalability, as well as pay-to-win models. By creating a more fair, and enjoyable model for the game, where higher-tier assets do not make the odds unfavorable but maybe give additional minor perks or purely just cosmetic, you will start to see a lot more player support and interest. As a majority of the DAO grew up as gamers and have also been in the blockchain gaming space, we are very familiar with the bottlenecks and challenges. One unique aspect is that MetaBrands will look to incorporate models of interoperability for different NFTs, cross-chain support and integrations, and a seamless and scalable solution on the blockchain side of things.
Host: Looking forward to the unique aspects of NFTs from MetaBrands! Can you tell us about the ranks and relics of MAGE? How can users rank higher? What benefits can users get from having a rank?
Hans: This is a great question/series of questions actually. The MAGE Relics (NFTs), also referred to as MAGE Ranks, are the “Multi-Passes to the Metaverse” as we like to call them. This means there are planned utilities and benefits for owners of these NFTs both within the MetaBrands ecosystem and other ecosystems in the metaverse.
There are 3 Relics/Ranks and they are named after ranks of trained mages:
– Master,
– Oracle,
– Archmage.
The highest MAGE Relic, Archmage, requires 50,000 MAGE tokens to be sacrificed or burned in order to mint this relic. In the future, people will be able to buy, sell, and trade these on supported open markets (like OpenSea)… but you can always mint and upgrade them on the official MetaBrands website.
The Archmage Relic will provide the most benefits with a 10% increase in voting power, 10% higher yield rewards, and higher allocations in the MetaBrands Ventures part of the ecosystem. These are just some of the main benefits, but there will be a lot more benefits to follow in the MetaBrands ecosystem, as well as with our partners’ games and ecosystems. OpenSea Collection (MetaBrands Alliance): https://opensea.io/collection/metabrands-alliance
Host: Perfect! Thanks again for the lengthy and detailed answer! Tell us how the Metaverse Resource DAO will work, including the selection criteria of assets and the MetaBrands Asset Management Structure?
Hans: The Metaverse Resource DAO is a decentralized autonomous organization comprising the 12 core advisors, MAGE Relic owners, and MAGE token holders. This collective will govern and manage the assets and resources within the Metaverse in order to grow and generate yield on a monthly basis.
DAO participators will be able to vote and create proposals around 3 fields:
– Operating Protocol (Core),
– Contribution Strategies (Strategy),
– Resource Deployment (Resource).
Some Selection Criteria Includes:
-Play-to-Earn Game with an acquirable cryptocurrency or in-game assets (NFTs)
-Strong community engagement with dynamic gameplay
-Virtual ecosystem including digital real estate with lease & resell opportunities
-Virtual economy with a native token
-Unique, multi-purpose NFTs (Collectibles, Interoperability, Real-World Utility)
Host: Great! Okay, just a couple more questions for you and we can hand it over to the community. It’s stated that the issuance of the $MAGE utility token will be unlocked sequentially over a 3-year period of time, following the public launch. What advantages does this model have?
Hans: That is correct for different aspects of the complete Tokenomics model. The reason behind this is rather simple:
– help reduce the potential volatility on the market (investor protection)
– help create a steady foundation for the MAGE markets,
– stabilize the entire project.
Dispersing the tokens across a 3 year period will help us create a healthier market since the possibility to mint relics will be gradual overtime, allowing benefits such as airdrop distributions to hold a higher weight. As the project grows, more tokens are released allowing the chance for more relics to be crafted. We want to ensure we are growing at a manageable rate and not too fast or too slow. And read our lips: We’re not going to be a one-day wonder, but a long term sustainable solution for growing and on-boarding the metaverse.
Host: Alright, Thank you Last question from me,
What are the major milestones your project has achieved so far?
Hans: Think first and foremost the biggest milestone we hit was getting our DAO advisor team together, and operational. With a group of 12 advisors (12 is the number for perfection by the way) from all sorts of countries and time zones is not an easy task. Luckily most of us were connected already, which makes working remotely a lot easier.
Secondly we hit all sorts of logistical milestones, like getting the website up and running, releasing the wp, and establishing a social media footprint. The latter is going well, but please make sure to follow us on twitter, telegram or discord.
Third major milestone we hit was successfully closing the seed round. We are actually quite proud that we were 3.5 times oversubscribed for the seed round, and one of our partners sold out in a few seconds. That was an amazing feeling, and also a sign for us we are on the right track. Rest assured, because of the traction and easy filling of the seed, we have NOT increased our valuation. That’s just not the type of venture we are.
Fourth big milestone was and is getting all the partnerships, very much like the one we have with you. At the moment we have almost 20 partnerships, and that is constantly increasing.
Lastly I would like to point out that MetaBrands secured 3 IDO launchpads for its offering.
Please check for updates at https://metabrands.io/roadmap/
Also, follow us on Twitter: https://twitter.com/MetaBrandsio or simply @MetaBrandsio
Out most active DAO advisors on twitter are:
@HansKoning
@inPlanB
@YuurinB
@WarkentinOleg think most of you already follow him…
Host: Thank you for the great answers, I appreciate you taking the time to be here with us today to share these details about MetaBrands, and help inform others about the project! I will now open up the Chat for the community to ask questions for the next 10 minutes. afterwards will pause chat again and let Hans answer the questions he can. Cheers!
Guest: In terms of Security, What work has been done or planned from the following?
1- Have You gone through any Audits yet?
2- Have You Partnered with 3rd party Security Companies?
3- Do You plan to bring a bug Bounty Program for the community?
Hans: Yes, RD Auditors has given us a clean bill of health: no issues found.
2. Yes, about 20 partnerships = see website
3. Bounty will be via staking.
Guest: What killer features MetaBrands has that are ahead of the competition and how does intend to open up the technology to the community and to researchers so it can be continuously improved on?
Hans: One of our favorite aspects of MetaBrands is really the meaning behind the name. MetaBrands, contributing and supporting brands (ecosystems, projects, games) that we feel are meta. This is one unique aspect about MetaBrands is that it actually thrives off creating symbiotic relationships with other projects.
No other project, to our awareness at this moment in time, is doing exactly the same as MetaBrands. There may be bits and pieces that are similar with other projects, but MetaBrands is a culmination of many different unique pieces that create a true Gateway to the Metaverse.
That is also reflected in our DAO Advisors team: specialists in the fields of web3 and blockchain core development, decentralization and governance, finance, branding and design, marketing and content creation, gaming and eSports, community growth, and positive social influence. Collectively over 30+ years of experience in the realm of blockchain and cryptocurrency.
MetaBrands seeks to contribute to the Metaverse through elevating other brands, projects, and games first. One distinct method that MetaBrands looks to expand upon is interoperability and limitless use cases through the MAGE Relic NFTs as a “multi-pass” to the metaverse.
That we do not only believe, this is what we are passionate about.
Guest: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
Hans: MetaBrands has established partnerships with platforms, exchanges, games, and marketing/media partners in the metaverse. All of the current partners can be viewed on our official website. At the current moment, we are also solidifying two big metaverse-based partnerships, with plans to build out the MetaBrands presence within these metaverse and in the near future host events to make this gateway even easier for beginners. Please subscribe to the official MetaBrands channels, as the list of partnerships is constantly growing.
Guest: What are the specific business models that your project is interested in helping? DApps, STO market, on-ramps, gaming, gambling, banking / lending / finance, leveraged trading?
Hans: As with every captivating trend, people and companies are rushing in to capitalize on the market momentum. However, they are overwhelmed with the extensive amount of projects from which to select and often struggle to make the right choice. Many DeFi users are wary about the complexity of these systems, technology, markets, and gameplay and, in most cases, lack the bandwidth required to assemble and comprehend vast amounts of information and make the best decision for their portfolio strategy.
MetaBrands can be seen as an ally in the space to help elevate other projects and ecosystems by contributing and participating on a much higher level than an individual. Another aspect of MetaBrands is that 80% of the yield generated is airdropped to MAGE Relic holders.
Another aspect is that MetaBrands’ 12 DAO advisors have over 30+ years of experience in the realm of blockchain and cryptocurrency, providing a well-rounded knowledge and understanding to navigate the dynamic landscape.
Guest: What can we expect from this project in the short term (at some point in 2021) and in 2022 and beyond (long-term goals)?
Hans: MetaBrands has quite a few huge milestones on its Roadmap, specifically in this next year. And – in all modesty – we would like to point out we have already made great progress and traction.
Aside from the basic foundational development, MetaBrands will be working next on the “Hero NFTs” (actual name to be disclosed closer to launch), where there will be 10,000 unique Hero Mages that we plan to integrate in our very own play-to-earn game as well. We will also be looking to continually expand into other ecosystems, metaverses, and blockchains with cross-chain compatibility, support, as well as interoperability for our MAGE Relic NFTs.
Ultimately MetaBrands will establish itself as a contributing entity and a passionate community, in which MetaBrands will launch its own play-to-earn ecosystem. This play-to-earn ecosystem will be its own realm of the metaverse that seeks to tie into other ecosystems, bridging worlds and communities — voyaging through the metaverse, one portal at a time.
Our full roadmap can be viewed here: https://metabrands.io/roadmap
Guest: Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable🌹🌹♥️
Hans: Yes, RD Auditors has done an audit, and gave a clean bill of health: no issues found.
Audit report will be online soon.
Guest: Is your project only for elite investors, what about others with small funds, is it open to everyone?
Hans: Open to anyone!
We have done the seed already, private is closed (via Trustpad, DuckDAO and OIG).
Next round is the 16th, please check website/twitter
Guest: Yield farming is a new trend so do you have any plan to offer a yield farming system?
Hans: Yes, A few days after launch, we’ll offer incentive pools for liquidity providers (LP) and single side staking for MAGE token
Guest: If MetaBrands is as “adaptable” as they point out, why did they develop their game on the ETH network, which has so many scalability problems and limitations with interactions with other networks? How will they be able to solve them and in turn incorporate other networks?
Hans: MetaBrands is launching on Ethereum as a foundation and will immediately expand to other blockchains like Avalanche (AVAX) and Binance Smart Chain (BSC). We will continue to build other bridges and look for optimal ways to scale and also provide a simple onboarding experience for new users.
Host: Thank you everyone for attending today’s AMA!