BTS Labs had an MVB II Live discussion on Youtube on July 29th. It was a great honor that we had invited three incredible guests with us.
The three guests were Philip Arthur Moore from Hot Cross, Philip “kroge” Devine from CryptoBlades and Marc Garside from GMR Finance.
The following is the entire content of Live Discuss on Youtube:
BTS Labs: Binance Smart Chain (BSC) is best described as a blockchain that runs in parallel to the Binance Chain. Unlike Binance Chain, BSC boasts smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM). Because BSC is EVM-compatible, it launched with support for the rich universe of Ethereum tools and DApps. In theory, this makes it easy for developers to port their projects over from Ethereum. For users, it means that applications like MetaMask can be easily configured to work with BSC. From the user perspective, we can send and receive BNB and other BEP20 tokens cross-chain, explore the transaction history and blocks on the chain, via bscscan, API and node RPC interfaces or stake assets to earn some block rewards. For Developers, Binance Smart Chain enables various functions like issue new tokens to digitalize assets, migrate existing DApps, or Run a full node to listen to and broadcast live updates on transactions, blocks, and consensus activities. Meanwhile, On April 23rd this year, Binance announced the second round of their very successful accelerator program called the Most Valuable Builder. In this program, applicants compete for their chance to get among the best teams based on their network and user activity, TVL, and more while also meeting all the criteria such as audited security and a sustainable business model. The second series of MVB is titled The Big Bang of NFTs to reflect its focus on unique NFT+DeFi projects that combine the best of the two worlds. With the selected standard including product innovation, security, community and transaction vole, all of the products are expected to contribute to a more comprehensive and scalable ecosystem of Binance Smart Chain. So firstly, could you please introduce yourself and your projects for us? Let’s start with Philip from Hot Cross.
Hot Cross: Hey what’s up, I’m just fair warning for the audience, I’m super casual guy so you’re not going to get some suit and tie discussion. I will explain what we do very, very simply we just build tools. We are at the sort of layer. You know if if you’re thinking of a city. Well, somebody’s going to have to build the roads. Somebody’s going to have to make the fire hydrants in all these types of things so. What we try to do as a company is focused on the needs that a lot of teams have. But don’t that’s not their core competency, for example, staking a single-sided token staking lp tokens. I’m. Like watchful on binance smart chain or doing a multi-chain mentor. Stuff that it’s like, hey I want to meet out in NFT by. I like I don’t know where to do that. So, so the things like data right, so everything on the infrastructure level including. Even something as simple as making out a beautiful creation that you want to remember forever, we’re probably going to be focused on so. In short, what we’re trying to do is to fill all of those gaps in the road so that nobody has to keep building those over and over and over. So then people can build on top of that and start making some cool stuff, so we want to be the roads. That people are kind of driving on building and making their own things, so that’s what we do, we’re very much deep into the weeds with it, and we love what we do; I’m super proud of what we do.
BTS Labs: Thank you for the introduction. And, let’s welcome Crypto Blades, so yeah, also Philip, could you please briefly introduce yourself and Crypto Blades for us?
Crypto Blades: Yeah, sure. , so I’m Philip. I’m the owner of a riveted games developer of crypto blades, and gripper blades is an FT crafting roleplaying game so. Oh, what that means as players can recruit. Uh-huh characters which will earn them skill tokens by defeating enemies with powerful swords, they also craft they also live on the blockchain as empties. These characters will grow in power as they fight more enemies allowing players to earn more skill tokens. , we also have the largest NFT marketplace in the world by user and transaction count. And , it hosts seven twenty one compatible empty. , as well as obviously our fps which is the primary use right now but we are a shifting into being able to feature NFT from really any a project about games or artists or anything like that, and so. I’m. , yeah, we launched on may thirty first and so we were coming up on on our first a two months of. A activity here and , you know we’ve had a lot of success with it so far so. I’m. Yeah it’s kind of a high-level overview.
BTS Labs: Thank you for sharing that! And here comes Marc, so Marc, could you please explain us about GMR finance?
GMR Finance: Yeah sure so , first of all, thanks for having us on, I mean we’re massive fans of. What you’re trying to achieve over here and and we only wish you luck with the channel, , so obviously I’m a con I’m kind of like the lead developer over here at GM a finance. I’m. So do my finance through our company, our parent company gmail productions. Developing d5 products. A main focus right now is with the GM a token is the development of a utility which is the game center are gmos center. So the game center is kind of seemed like a really integral part of our overall project a being kind of like a port of call for all gamers. Creators and developers. In a in the game in de fi space, , and not necessarily both, . So what we’re looking to kind of achieve the game centers. Not an exchange or another decks with just a game until. I mean, there’s already a bunch of great projects out there in that space, I mean you only have to look up h swap and even work across doing a in terms of. That kind of angle to to kind of get a good example of that. , we’re looking for to create instead it’s kind of like an evolution on some of the more established centralized platforms such as twitch Youtube and. A place where games increases all kinds of experiences in dfi or non Li fi, to kind of just coalesce. what I like to kind of say is a I’ll use will become experience, DeFi users. Through osmosis, you know without even realizing. And. The way we kind of see that working, . Or at least what our game is that when a creator or streamer a extreme their content on our platform or just upload it from an external source. With a few clicks of a button, they’ll be able to sell their art. Generate another revenue stream. Similarly, the community members, , I mean we already have 10,000 sign UPS on the game center which is fantastic considering we’re still kind of be to release. Those community members. Through a social tools, are actually going to engage in. Comments or vote stuff like this and be able to be tipped for positive comments. Oh, just if somebody likes it so. Community members can actually build an audience and revenue on the platform. , so. So yeah, so once the platform is a fully operational that’s when we’ll be placing our gaming API into Beta testing to the game, the API aims to not just as a drop in play payment gateway for game and APP developers, but also. I kind of like. Immersive and connected experience that can link in game progress and purchases to users. Game center accounts. , so, so yeah so so we’re thinking big. , we’re realistic with and currently our sensor is open to the public to join and create unique user profiles through some of our but then through some of our feature drops. , we’re aiming to have the nfc marketplace, open a within a few months later this year in time for a war zone tournament so. I I guess that’s kind of , a brief overview of the project as we can give really.
BTS Labs: Cool, thank you Mark. And so here comes our first question that: Since its official launch in September last year, Binance Smart Chain’s on-chain transaction vole has risen from 200 transactions per day to a peak of 10 million transactions per day. At the same time, its ecosystem is gradually improving with the launch of more and more DeFi and NFT projects. How’s your opinion on this phenomenon? We will go again with Philip.
Hot Cross: , yes, you yeah okay so so a little context here and I I always try to bring some context. SO. People understand is that we we were the creators of the. Of of this bridge called the . The frontier. Like ERC-20 to BSC-20 bridge, this was back in January okay so we did this for another company. For frontier which. I do backend work for okay like a very mobile mobile focused company and so. Around October of last year I I started noticing that. The TV l over on. By net smart team was only around like 45 or 50 million. SO. This reminded me back in 2019. It was the same type of thing where on east the TV l was like. 500 million or 400 million and everyone kept saying the same thing. And this is some kind of weird thing, nobody really cares about it there’s a lot of opportunity there. And two unique players in the space stood out, one was pancake flop. And one was Venus. I don’t think anybody on this call in this room on this live stream in the finance marching community. Nobody wants to see anything. Happened to pancake shop or or Venus because they’re sort of the. They’re like these behemoth backbones that brought everyone into the ecosystem. So when we started doing bridges. So let’s say we have forty or 50 million dollars of TV locked into bridges. And then we started doing speaking. And then we started having like about 35 million TV oh. And now we’re focused on minutes and in about two weeks, you’ve got about 2000 or 2000. 200 minutes. Depending on all change, okay. Easy, there’s just simply no argent or any there’s no argent that anybody could ever make to me that. Layer one change like ban an smart chain are not important. One is it’s fast, cheap, it’s super fast, super cheap. It feels like it’s free and nber two something that you cannot replace. If you cannot replace a community. So once you have a community in place. And once that has its own personality, you can never ever ever replace that even if you try to bring that back over to a theory, . We’re back over to salon or any other blockchain polygon like every chain has its own unique identity. So our thesis remains the same, but as long as binary machine can scale. And this is the issue now like I’m sure a lot of you guys are probably like what’s going on today and yesterday. It’s because there’s a death that’s like got a massive amount of usage. So the network has been a little bit wreck, so as long as we can scale. As long as we tackle that issue of scaling handling transactions. Like infrastructure level stuff that every basic company needs. I I don’t see any argent against buy that’s marching or any or any EVM compatible chain not proceeding I just don’t like the community is too strong. , it’s too strong I don’t think anybody can make this argent so.
BTS Labs: Thank you for that, and yes I agree with you that. The two most advantage of bsc has. One is the super fast transaction speed and the second is the community has. Yes, it’s not replaceable. Yeah I agree. And thank you, yeah and next let’s welcome Philip from Crypto Blades. , what’s your thoughts on this topic.
Crypto Blades: Yeah I think yeah I’m. There’s quite a lot of NFT projects that are releasing with lots of different a utilities and I think from an innovation standpoint. , we’re going to start seeing. I’m. A lot more interaction between kind of you know these three. I would call them. Main areas of of watching usage right now whether that’s a DeFi, a gaming or game five whatever people want to call it now, enough teeth. And I see that. Kind of inner working of those as something that is going to continue to drive adoption of all three. Because we’re getting different communities involved into the blockchain for different reasons. And the more that they kind of cross pollinate a the more they’re gonna grow. And so you know that’s something that I’m obviously we’re very interested in given that we’re in gaming an FTZ. MHM. Getting into the device space isn’t out of the question too, in some respect, but keeping that gaming aspect, that’s pretty good. A I think the entire thing for me so yeah I see this continuing to grow for you.
BTS Labs: Thank you for. Yes yes, yes, we are we’re now, witness a more and more use cases of NFT plus DeFi, and yes I think it will be the future trend and helps. Yes, they grow much more bigger than before. , thank you for sharing. And, , now, yeah now comes to Marc so Marc what’s your opinion on this topic.
GMR Finance: Yeah I I think I think the guys have kind of hit the nail on the head in terms of. What’s driving the change from a kind of crypto or Li fi space, . But I I think. I actually think that. The. You can probably credit a lot of the growth in in this area too. Something actually, that is beyond correct tone deaf I think it’s. I think it’s something to do with the nature of ownership of things right now, kind of real hit on that big time because if you think about the kind of controversy surrounding a platform such as Spotify and royalties to artists and stuff like this. Crypto, DeFi, all these and all these kind of projects including development of entities. They offer artists and creatives are kind of way of. Controlling the revenue stream, not even and even if you think beyond value or revenue. It’s just. Having control over what you create. on. It also I think it taps into something that we’re seeing on other platforms such as Youtube super chat and stuff like this way. Creators on the community members or followers subscribers whichever you want to slice it. They are increasingly closer together to one another now, or at least it feels like I mean it kind of feels like when you drop some money into a supercharged Youtube for example and the creator calls out your name, you instantly feel a little bit closer to creating I think. I think NFT’s are on and some of the technology surrounding this kind of offer that connection. On a bit more of a deeper level because. You actually own something from that creator not just. You stream something off Spotify I’ll never be that again, and then obviously the creative benefits from not just not just financially but also in terms of controlling their IP.
BTS Labs: Thank you Mark, yeah I agree that after has somehow brings ownership to from the creator to the collector and yes you you make people feel like they are yeah actually owning something and will be more willing to engage in a also the crypto or the sci-fi work. And yeah, thank you. And now comes our next question that: On the other hand, the nber of developers on bsc is growing. According to bscscan, the total nber of verified contracts on the bsc chain has increased from less than 20 contracts in September 2020 to a peak of 3,440 verified contracts. We can also see that there are currently many great projects on bsc. So, from a project development perspective, what were some of the factors that motivated you to develop projects on bsc at that time? , so again, we will start from Philip from Hot Cross.
Hot Cross: Everybody likes their own flavor of Ice cream and so for me going back to 2019. Back when finance chain. When it was based on cosmos. Yeah. Binance was like a coste space chain that had that too. So back then I was really like super interested in. What finance was planning on doing is essential ized entity like how do they plan on. Getting out of this, like I don’t I. , yeah, like , , you know centralized exchanges are fine, like I love it’s great but. I think during that time people understood OK. Like what now. And. And so, then, . Things started picking up on a theory I’m. Which is really which was totally fine and I I think the tipping point was. When that post Kobe. Market crash of march thirteenth. 2020. Like that day when all the liquidation engines on. It makes started like. Real you know there’s this massive market correction. From that time on words. People started realizing like man, it’s expensive to develop. On a theory, I’m how can I continue doing this. , you just to give you some perspective, the mobile train mentor that we just did that we just launched. And this is in Beta state right like this, this just march thirteen days ago. The cost to deploy that out on a theory, was a 4000 dollars. The cost to deploy that out on Binance Smart chain was like a hundred dollars. The cost to deploy it on polygon was like maybe ten dollars or fifteen dollars. So it’s so what happens if you’re a team. Oh, and your user and you’re wanting to do like all of these things gonna change sooner or later. You’re just gonna get Fed up with paying like tendencies just to do normal things so. I don’t believe a lie I I think that the the reason going going back to why we decided okay. Let’s see what’s happening on other layer ones and even layer twos. IF. It’s just getting a not feasible to develop on these on these change right now it’s not fun. It’s terrible, it’s awful. , and then you get a little taste of it. A minus marching and you’re like oh my god like this feels familiar. I love it, it feels great like. This feels exactly how things should feel. And so I I think finance far chain is one of those chains where. You either love it or hate it, you probably love it because you tried it, if you hate it, you probably hate it because you’ve never tried it. So I would strongly suggest for anybody, I mean this is a targeted audience, but I would say. If you’ve never just tried like at least ten or twenty deaths on the chain, just try it like. You’ll get hooked into it and you’re not you’re not really want to leave again, , so that’s. That was our thesis was just really sick and tired of saying like. A hundred thousand dollars just to deploy. So let’s do it on finance marching it was very simple for it was very simple for us, you know.
BTS Labs: Thank you for that, yeah. Yeah, also, ask then if I use I’ve also witnessed the the cost of Syria and yes basically a actually brings a different experience. For all of the users and developers, and also, I wanna ask a ask a question that could be suggestions for developers and engineers who are planning to develop projects on bsc?
Hot Cross: Yes I would say I I just have one piece of advice to all developers, . Do not look I love finance marching I love it. I love it. I mean we have so many assets under management. On on bi nance marching from the bridges to the. Taking I’m there’s probably over a hundred million dollars at this point. But. My advice to all developers would be if you’re going to have any kind of token. Or any kind of asset. You put that canonical asset on a theory I’m. Because every Ethereum is sort of like the bass. And then you build on that. So that if anything ever happens. You can easily migrate it to a different version of bye that’s marching or the next evolution of bi that smart chain what if a third version of bios marching comes out and we’ve got to move stuff over. So, so what my piece of advice really to people would be, do not think that developing on by next march, a means not. Doing a Syrian base development. It means doing a Syrian base development just in another way. So I it’s really a very strong piece of advice I would give to people is. You really must not view this as an easy thing. It’s not like that, it’s both of those things can live in harmony so. I would strongly advise all developers to get deeply familiar with the way that a theory I’m deaf I works. Because you’re probably gonna see a lot of that on by net smart chain as well so that’s I really think that’s super important super important, you need to be agile as a team and you need to understand all forms, including Ethereum as well.
BTS Labs: Oh cool, so next we will come to Marc. So what’s your point of view on on this topic.
GMR Finance: Yeah, , so a couple things first I guess. First of all the reason why I got interested in this space in particular a is. Pretty much lots of the same reasons where I highlighted above in terms of. Personal ownership of your own content and the ability to. I’m just reach out to your community in the way that you feel is is kind of. Best on. Also just bringing communities together and stuff like that and the ability to do that through Li fi or through a. Any kind of crypto technology, it was just too tempting to kind of looking away my history is actually a web developer a so. When I started looking into DeFi and Web 3 and stuff like this, it kind of became a no-brainer. And in terms of bsc. Well again the the reason that was also a no-brainer, I mean the reason that I’m interested in defining first place is because. I believe strongly in decentralized systems and in particular again they control of your own a commodity or your own work or your own assets. And. The simple fact is that bse allows for quick. And cheap transfer. Of your assets., and it definitely. Definitely I don’t think it has any kind of close competitors in in the area so bse became like. He was the good place, and just just quickly touch upon learning DeFi, from a beginner’s perspective. So it is obviously correct, in terms of Ethereum being kind of like the bedrock of what we see today on bsc or at least the the inspiration what we see on bsc today. I think bsc has done a hell of a lot of work in that area too, in terms of like opening a bosses and a and a Tesla is is available for people to use, and if you were to, for example go to open zeppelin’s box. Which is a great library, if a beginners to kind of look up. Yeah. There are tutorials and stuff like that, actually, you can actually build them on the bse test to, so yeah there is definitely scope there. , and yeah that’s pretty much where I stand on this.
BTS Labs: Yeah, , thank you Mark, thank you for sharing your experience on how on building a project on balance marching and I think it’s. Yeah it’s actually for for engineers and for. Developers and they will definitely be a good choice and again, , could you share your recommendations for new builders and engineers on Binance Smart Chain?
GMR Finance: Yeah, so again just to reiterate just. First of all I’m probably afraid of interacting with the blockchain, first of all I think there’s always a lot of apprehension a when especially for the first time a you know we’ve all been there myself included when you first apply to to a main net., so my advice would be to. Familiar with the various test match whether that be on DeFi or a bsc, and anything that you play on iti on Ethereum or any kind of eatery, I’m contractually contract will work and run on the bse test anyway. So don’t be afraid to accept where you currently are in your development progress, read the docs, , you know the doctor always great sauce and. I I know I kind of I’m kind of crushing on open zeppelin at the minute but the reason I I point to them is because. They’ve been a hell of a lot of work with their decantation and they there’s decantation for using hod or even truthful a show. There’s plenty of opportunity out there just don’t be afraid to jp right in.
BTS Labs: Cool, thank you, Mark. So, the next question will go to a We know that commission is always a paramount concern for users. The current gas price taken up for an exchange on Ether is around 15, meaning that a transaction fee spent on interaction will be around a few dollars, or even 10 dollars or more. This is a relatively large transaction expense for the average user, especially when playing blockchain games or yield farming. The user needs to make more than one transaction to complete an entire operation, and such high transaction fees can place an additional burden on the user. Compared to Ethereum, bsc’s gas price is around 7, and the transaction cost is about $0.3. Do you think the advantage of the gas fee that bsc has will help it keep acquiring users from Ethereum to BSC, and if so, what will the circstances bring to the DeFi and NFT world? Could you please a start sharing your point of view, Philip?
Hot Cross: , yeah, I mean I I think that there are different types of users and . The first thing people pay there okay, so there are different wallet sizes, you know different their Wells or small fish. Look, if you’re coming into crypto with a hundred dollars. You are going to want to find someplace where those hundred dollars is going to get you very far. And there’s simply no dispute. That. There are two block chains right now. That at least we’re focusing on I mean there are a few others that were looking at as well. That have cheap fees, one of those, polygon, one of those bonus marching. Finance marching the reason we focus more on it is because. The community is insane, and I mean that in a good way. So they, they just put some perspective in place. If you go to unis swap right now. Not only do you have to approve a transaction, I mean you saw me too I don’t need all this like. Complicated capital efficiency, b3 stuff I just mean a normal swap. Okay. Approval step. A swap step like all of these things, if you were just to do it on a theory right now. The cost of the transaction itself. Is going to make the cost of whatever you’re buying go up just by default. Therefore I mean anyone who has done a single swap on pancake shop. For a swap. Or any sort of swap or am on Binance marching they are immediately going to understand like oh my god, like just did it. This didn’t cost anything like this is fantastic. And so they’re just gonna start going on and on and on doing this, so what I would say is. The best way to predict this is to look at. A centralized exchange and look at their fee structure. A minim trade of like let’s say ten dollars the point 1% spot trading fee. With a point 5% like market by key like if you if you do the economics on this. Oh, the reason a lot of people are saying on centralized exchanges right now is because it’s just cheaper. Then it’s their final Nigeria. So, what finance smart chain has done is give people the option. I’m saying well no there’s another place that’s just as cheap, if not cheaper. Decentralized exchange then you should try this. I do think getting back to the question of do will fees attract people. To block change the answer in my mind is yes. Will sees growing up, keep those people on that blockchain. I think we don’t know yet because finance smart team is young. But by the time the ecosystem has grown up. And developed. People have been so integrated into it. That even if it goes up a Dollar or two dollars it’s just it’s going to pale in comparison too much to what’s going on right now so. Until I’m proven otherwise, that’s my stance on it I changed my mind like twenty times a day. Right now, fees are super important to people. So yeah, that’s my that’s my that’s my feeling.
BTS Labs: Thank you for that, yes, as you said that the transaction fee is important and. Yeah, I personally believe that it will bring yeah. Somehow a user’s from other block chains, but yeah if you said that, how can. How can balance machine, keep disadvantage, or would it keep a disadvantage, we haven’t we don’t know yet. Yeah, on this point I agree with you. , thank you for this and next comes to Marc, could you please share your opinions.
GMR Finance: Yeah, so, . I mean Philip answered a beautifully so, I think. I think what I would add to that is that.the overall kind of circumstances what they would do to the industry I think is probably facilitate. The already exploding web free development, in terms of a decentralized Internet in particular. I also think that you’re going to see. As as crypto becomes more accessible not just to those interested,, but for those who part wasn’t so interested before this year. A I think what you’re gonna see is that bsc. The the interaction that user base is only going to explore because. Clearly the the fees do matter, and not just the fees, I mean as a developer, also the speed of transaction matters as well and the and the fees obviously facilitate that too because we’re not so worried about creating a highly transactional, a kind of software and development also. A I think I think overall you’re just going to I mean this space is going nowhere is it, I mean it doesn’t matter about the bull or bear market. The overall space is clearly growing, and I think you highlighted yourself. Just a few moments ago about the difference in the number of contracts on the blockchain now in particular on bsc since just 2020, it’s crazy.
Yeah, since its launch like if it’s less than a year and if you have achieved, there’s so many great things yeah so. I think you keep growing on its ecosystem as well as the users. And yeah, and the next question is that. Over the past period, we have witnessed the rise of bsc as a public chain; in terms of total addresses, bsc has had over 8,000 user addresses. In terms of TVL, according to BscProject, bsc has gained over $17 billion in TVL. In last week’s figures, CryptoBlades also shone, topping the top unique sender and top unique receiver lists, with a total of 179k unique transactions. Hot Cross and GMR Finance also performed well . So my question is, as one of the best projects on BSC, how can you gaining an edge and nber of users through binance smart chain?. And again let’s start with Philip.
Hot Cross: Really, what you know. One of the things like sometimes builders don’t really like to share their secrets here’s the secret. Just like here’s the secret. First. You need a product. Alright, okay, first you need something that people are going to use. In our case. A this was back in November or December. It was a bridge, it was simply a bridge because teams were desperate. They were like oh my god I got any ERC-20 I got to get over to finance marching oh my god I got to do this, we got to do it now. And then we realized oh aa like ten teams are asking us how to do single sided staking on bias marching. So, so what we realized and we’re working on this, this data index now that we’re able to read things like from a very. It comes in like a web sockets like crazy crazy fast like. Even with the mentor like when people meant out stuff, it’s really fast like the data from. The time someone meant something out from the time we see it on the web socket is really quick. SO. There are two ways to there are two ways to do growth. One is you can try to do growth like explosive hype based. Incentivized growth from day one. Which certainly is like a fantastic. Strategy for a lot of different companies, what we did on our end. Was the number one question we had for like the first week was. Why does your room only have like a you know a hundred people or 500, people like are you who are you guys like this is this some kind of like scam team like it was very like okay they’re out of stealth and they’ve got all these products. It depends on the personality of the builders. You must do what is right for you do not try to follow someone else’s play ball. The second thing I would say which is most important, absolutely without a doubt is. You need to establish habits. In users if you can establish a habit. So for us, the habit that we tried to establish two things right now one. Keep coming back to the across pool. Keep coming back, claiming your stake retaking it keeps coming back keeps cheaper thinking like just keep doing it just keep doing it over and over and it’ll be fun. The same thing on the mentor keeps maintaining stuff out. Sooner or later you’re going to get into a flow and enjoy it. So, what I would say to to to builders who are trying to appeal to a community. Is one is you have to have some insulation layer to it. I don’t care what you do, this is like a traditional businessman. Like. , you have to think like a traditional business. You, you must have some incentive to it. If you do this for us we’re going to do this for you. GMR does this really well. Like. Everywhere I go on Twitter GMR Wu like yeah okay baby. So I’m like geez like this is amazing. Like this in civilization is very very important for awareness. So, what I would say is. The way that you. That you really get traction is. One you do it through. Go tell people about us. And we will do something for you. A referral style system. The other thing is you use this thing that we built. And we will do something for you. The way that we do is a lot of retroactive stuff, so we’re not even going to tell you we’re going to do it ahead of time. Yeah, go use the mentor you might end up with twenty dollars in your wallet. In the next in the next week or so but we’re not going to tell you about it. So, so what I would say is I’m a and I’m sure other people have thought a message. If you do not have some sort of game of vacation on civilization, people are going to get bored so. Everything has to have some kind of fun to it, if you have no fun to it. Nobody’s going to care what you’re doing.
BTS Labs: Yeah I think yeah it’s it’s a very important point is that , yes. We, we got to make our product I’m fun and we got to enjoy the process of developing it, and yes. It’s very available and thank you for that. And here comes to Marc, could you please share a your opinions on the question?
GMR Finance: Yeah, I mean first of all, just a tip of the hat to the GMR, our community is. A very, excited, a very active community for sure, , I mean I I think. I think one of the reasons we kind of. Became so successful so early on was just because. We we hit a nerve straight away and it’s like what Philip was just saying in fact. You need to have a clear idea of what you want to do as a project for for a start. , and you need to have the determination to see through, . I mean, god knows in this industry, there’s this a hell of a lot of suspicion, , not so much fun, I mean you can never get away from that book. We’ve seen so many. Projects, unfortunately kind of disappeared on under a kind of shroud of. accusations and suspicion and so I think you’ve got to appreciate the space you’re in. SO. Of course have a solid idea of what your project aims to achieve and the problems it aims to solve. , but you’ve also got to appreciate that. You know, it’s. The the world you’re living so being fully talks all these things. I’m. Empowering your community members, and stuff like this. Create that that kind of feeling of trust. And if your product is good or not. And you can create this kind of environment of a inclusion and an openness. Then, I’m sure the project will do well I I mean. One thing working to do is recognize people who are actually help build. GMR. We don’t just highlight key team members the senior dev team, we also we also not to those who are senior mod moderators in our telegram, our discord and I think or at least I hope that gives them encouragement to actually stay involved. I’m. And that’s driving force behind our community, let’s be honest. , there’s only so much time you have to develop as a developer to actually. Interact. With each individual member of the community and the reality is you just don’t have any time. SO. Holding ama’s once a month, what we’ve chosen to actually launch a product or a podcast where we can actually. , get out our direct kind of information from the dev team and stuff like that so. Single creative ways when things pick up to actually get your news out there. Build and appreciate the team around you understand what your project is and what you hope to achieve, and yet just run with it. And that’s not that’s that’s our secret. 290,000 holders of GMR are right now.
BTS Labs: Yeah, thank you for sharing Marc. You talk about a very important point is that I’m appreciate everything, and also like to do more, do much more for the community and enjoy the journey I think it would be great. And here we’ve got some questions and the first question is for Marc. The question is what is the greatest thing companies can do to bring the fight to people who have no familiar familiarity with it and crypto?
GMR Finance: Yeah, I I think that is. A great question, and that is exactly what we’re aiming to do with the game sense, we don’t. Obviously, our community is primarily a crypto enthusiast on games. But I think I touched on it earlier on but were hoping to achieve the game centuries. And a place where gamers and creators. Irrespective of that interesting dfi want to be. And we are layering on top of that a whole bunch of products. Would that be tipping, are NFT and things like this, so the experience of creating an NFT on the game sensor won’t feel like. You’re creating a team. It will be from a user’s perspective, like I have this piece of art. I would like to sell it. They just happened to be able to take advantage of the NFT infrastructure surrounding it. And I think you’re going to see that with a lot of projects. , even in the wider world such as finance a lot of projects a project. Tough talk a lot of , a lot of banks, for example are already looking at how to integrate blockchain technology. Into existing Tech. So I think in all honesty. As part of the future anyway, in terms of the Internet of things and especially applications that you develop so one thing that we’re hoping to achieve. Through our application is that. Users will want to use application anyway. And we will be, I’ll be using DeFi as a consequence.
BTS Labs: Thank you, Marc. And the next question is for Philip. , so. The question is, do you have any coin burn or buyback systems, or any token burn plans to increase the value of tokens and attract investors to invest?
Hot Cross: Yup. So I think that. I know I know this is going to sound like really like. You know. I’ll give you guys some a there’s a real. I want everyone to go to Google and. Look into the concept of. Buyback and make. The the concept of burning tokens is. Works under certain circstances, so for example like banking swap, right. He takes, he has an infinite supply. So actually, if so let’s say you put out ten apples in a day. And you burn eight apples in a day well well sure we can play like. Oh, we just burned off eight apples like. Yeah. This is incredible. But you still have two apples left in that bucket. So I think that. , something we’re looking into do is. More of a sustainable buyback and make. What is buyback can make versus buy back and burn buyback and burn is you’re you’re literally. You you’re literally like killing off use cases of your token. By believing that constraining supply is going to somehow help it. When in fact wouldn’t it be more constructive to. Take back those tokens from the market and use them in certain in a certain way. So I’ll give you the perfect example, we just opened up, our supply has not changed in two months. However, we’ve had to staking pools open. For our native token. Well, how did that happen. Obviously, we bought them off market, we literally. Bought our own token off market to make. A new pool that would be distributed out to users so. Products that we build revenue that comes in. We have two choices to make one we bring in the revenue as a company. Two we give that to the community in a way that is not guaranteed, we do what we want to do like if there’s no set rule there. But I I think that burns can be destructive under certain circumstances. A better thing in our case as a company is. You take all the revenue that comes in from all the things you’re doing. You use that to subsidize as much as you can possibly subsidize. To prevent all these additional tokens getting emitted out into the market so so. We’re very aware of this sort of supply side demand side issue that that that happens with token crypto all the time so. I’m for burns I I would say that the proper answer is there’s not one good answer for one project. I would encourage everyone to go and look up the concept of buyback and make. Because I think that it’s something we will absolutely start looking into a at some point Pretty soon.
BTS Labs: Thank you. Yeah, then the next question is for Marc : apart from marketing graphics are very important to attract many gamers to play your game, so can you provide an aspect of the GMR game and how many games have you launched now is still in Beta form?
GMR Finance: I’m glad that that question was asked because I think. A I think some people are confusing us with an actual game. And I think I think the key thing to understand here is. What we’re trying to develop the game center is a platform for game enthusiasts game streamers. On game developers. , through our API that we are working on we want to win Hans games. , and no doubt in the future, we will create games, of some kind, I’m sure , but the aim right now is to be a facilitator of creators. I’m in this space. I’m. But in terms of whether our platform is in Beta mode. A we are open to the public, now and features are dropping. I’m. Well, they’re going to be coming quick and fast right now actually at the moment, and those who actually signed up before the first feature dropped. Actually, got access as early access members and they fall I will be testing cohort, unfortunately that section is now closed off, but you can still join you will just get access to features as they open up a little bit later than the Beta testers. But yes, I’m games themselves is not something that we have on the cards right now we want to facilitate the creation of games with stuff that we can do. , on our side, things are gaming API.
BTS Labs: Thank you, Mark, and the next question goes for Philip: that will Hot Cross plan on developing more NFT projects?
Hot Cross: We’re building more, I mean we’re literally building this real-time I just tweeted out. This long tweet thread explaining what we’re doing so. If you build out a mentor. For a multiple chain. Nfc creator. Then. If we notice that there’s a quite large amount of people using it. Then, the logical next step, there is no okay. So why don’t we do something else there. Why don’t we put in a really cool view layer? Why don’t we reimagine what it means to to to use enough peace? there there’s an issue right now I think in the industry where. , hua, what I would say is NFT’s are not always just to buy and sell. There are so many use cases there are so many use cases of the negatives. Collectible’s memories. Diary entries. You know the sort of sentimental things that. You bring over from the traditional world to the blockchain space. Like what we’re really focusing on is who is creating what. And what we’re seeing a lot of people do on buying its marching specifically with our mentor is. Always said is hey, can you please make a mint. We don’t care what it is just go make a mint. And I’m starting to see these photos of like these really kind of touching baby photos like. Scenery photos like. Those don’t have any quote unquote market value, but the sentimental value of them is really high. So we’re going to dig into the data a bit and figure out a way to make that work. To where people start getting it where they start understanding. You know there are a thousand ways of interacting it’s an empties. Not only on buying smart chain but all these other block chains. And by the way would it be just amazing and fantastic, if you had a way of. Having not just in one place that you could look at and just feel happy. , so we’re trying to bring happiness to enter t, that’s the that’s the next move there. First move is get people minting. Good people making as much as possible. And then the next move is you bring happiness. And so that’s our next. That’s the next thing there and then what comes after that is a maybe a little bit of fun, we’ll see, but yeah, we’re. We’re working on some stuff there, it’ll be fun, it’ll be fun.
BTS Labs: Thank you for that. And the next question is for Marc : are you afraid, someday there will be another project with more innovative technology that can replace your project?
GMR Finance: Yeah, so I I know a great question, and it’s funny because while we were chatting before we went live, we kind of talked on a how. Competition is viewed inside this industry and. There’s always a temptation to view competition in not just this industry but I do feel like there’s a bit of an edge in this space right now because it’s a growing space. And I think there’s I think a lot of people suffer from a bit of scarcity mentality where they feel like they must compete with sharp shoulders against all the other competition and beat them out of the industry. A I get a little bit different, I actually look up not just competitors, I’m a direct competitor in this space, but also just a project in this space and. Obviously I always wanted to learn and innovate, and I think this is something that every business regardless of industry has to accept. Competition is good, and you better step up to the competition, of course, if you want to survive as a project and obviously that’s something we would do. But when I see. When I see new projects launching now, they, clearly aiming to. And for the same market, we are entering. I I certainly don’t see that as a negative thing at all I see is just a positive because. Who knows, they may they may bring people into the into this space that we’ve not reached yet , we now have the opportunity to engage with and that’s only better for the whole industry and. Allows us the opportunity to even target those. Up until that point currently on target group so now I’m definitely afraid of the competition in terms of innovative technology. I mean, as I say as a as a company that’s operating in. On the edge of technology that this is up to us to kind of remain there and not just chase the news too, of course, but we need to be aware of the newest tools and stuff like that and we also need to look after and build a nice sweet, tools using current technology infrastructure too.
BTS Labs: Thank you Mark, and also let’s welcome Kyle from Crypto Blades. And here’s a question for Crypto Blades: In the last two weeks CryptoBlades has announced a partnership with Gate and as we can see from the on-chain data, CryptoBlades already has a lot of players and your Play-to-earn model is very innovative for players. So, what are the future plan for CryptoBlades and what’s your thoughts on metaverse as a concept?
Crypto Blades: So we would like to obviously expand the core product, so we’re looking to add raisin TVL as ways for players to interact with the game. And we think that that’s their first couple of steps, we also want to help other things like auctions and. Other small details, we think raising TV people really hit home for a lot of players. A, as for like met averse we’re actually we’ve been developing my concept ourselves, so we want a crypt with met averse where we have a bunch of games that use a crippling disease. So the first one that we’re planning on encrypted with kingdoms which will use your player and weapon and a fuse. As it’s another feature that’s built into the game so you won’t be able to write back to those NFTs but you’ll be able to utilize them in this game. And depending on how the model does we’d like to expand that to future games as well.
BTS Labs: Thank you, Kyle and personally, I’m looking forward to the new features of Crypto Blades. And here comes our last question for Philip. So, the question is that are related to your plans on building hot cross, so what’s your plans in the beer market and how would you treat beer market?
Hot Cross: First, this is something that we we covered with our community a month or two ago and I said, you know a lot of times a lot of times. Coley founders builders. We are in this really awkward position where we can’t really be open, you can’t really talk about like this reality that. On the one hand, we’re trying to build and on the other hand we understand that. We are dealing with the reality of a very volatile space. When. What I would say is Hot Cross in particular, It doesn’t I mean it just simply doesn’t. We most of our team has no idea what’s happening. On market because I tell me I’m like my colleagues and I told them like hey like here’s your. Here’s the task for the week. Focus on the task for the week. Everything else will figure itself out. And so. The this is so cliche it’s so cliche but. If there’s one piece of advice I could give to any person who’s entering the market now. Not only as a speculative investor or builder. IS. The bear market is exactly when you want to be building. You want to be building when things are bad do you want to be building when people are afraid. Because what’s going to happen when everything heats up again and everybody’s happy again. He just imagine the imagine the growth and explosive growth, that’s going to happen to your platform. So so, so our plans are. What we’ve been doing on the intangible side is simply internally, just being like, it’s fine. On the tangible side, what we’ve been doing is preparing for scale, just a massive amount of skill, I mean we’re unlike these. These tests of like okay what happens is three hundred three hundred thousand people or 500,000 people a million people hit the platform at one time. So what we’re doing is is we’re building for the next six to twelve months of. What’s going to happen when everybody gets happy again. And I think the I think the answer is the worst thing anyone could ever do right now. Is look at today and not realize that most of the people on this panel right now. Probably have road maps that are out like six to twelve months out that we’ve already started working on. So I would say just take a deep breath. Like fine products, you really like get aligned with those communities and products during the bear market when things are slow. So that when things pick up ii, it just it’s like a whitening everything goes fast, everything goes fast so. , I’m actually like on on the tax side, we’re just extremely positive about how things are going on the market side were also fine like we’ll be fine. Like oh everybody will be fine like you, everybody will be OK, don’t worry. It just play the game like play, the games like learn how to play them, everything will be fine so. , that’s our plan is to not fight a all in this with one sentence, you know that thing. In English, a we say like, don’t swim against the tide so much. So you can’t fight like the way that the market is so just you have to accept it. Except the way the market is a new build with it. And that’s what you have to do, yeah you have to do that.
Website：http://www.bts.global
Twitter：https://twitter.com/btslabs_china
