1st AMA with TribeOne (about OpenWorld)
At 1 PM UTC on 13th May 2022, OpenWorld was hosted at https://t.me/tribeone by TribeOne in the 1st AMA between us. TribeOne is a great project with big community. In this AMA, you will get sneak peek about what’s going on with OpenWorld project, what we aim at in near future. Let’s get started!
Mr. David | TribeOne: Good day, TribeOne Community!
Let’s start by asking our guest @TranDzungOW to introduce himself. Hi @TranDzungOW! 👋🏼
Mr. TranDzung | OpenWorld: Nice to meet you all! I am ready, then we can start the AMA
Mr. David | TribeOne:
Can you please introduce yourself and your team to our community?
Mr. TranDzung | OpenWorld: My name is Thong Nguyen, Partnership Lead of OpenWorld project.
I am crypto enthusiasts and have been in crypto market since 2016 so I have witnessed at least two bull and bear cycles. In crypto market, you should be witness of one full cycle (bull — bear) at least in order to fully understand how it moves.
The OpenWorld project is a Metaverse project but I would like to call it as a digital world with a sound circular economy based on real monetary flow.
OpenWorld envisions to open a new dimension for everyone to connect, play, express themselves, and find happiness.
Our team now has about 20 members in a group of diverse and complemented backgrounds: coding, venture capital, digital media, and business operation.
We just grow our team from just a handful of pirate bandit part-time freelance members of 5–6 people to a full fleet ready-to-fight working 24/7 in just the past 2 months. That shows how fast we are growing behind the scene right now.
Recently, Mr. Long Pham joins OpenWorld team as our Chief Growth Officer 🚨
The core team knows each other personally and have worked together for 10+ years over various ups and downs in multinational firms as well as high growth startups across Vietnam, Singapore, and the US.
I pick out a slide about our team in our pitch deck here for the community to see:
Mr. David | TribeOne: Awesome!
Can you please briefly tell us more about your project?
Mr. TranDzung | OpenWorld: Again, thanks for the question. Let me go through the second question
We have been very much into DeFi technology in 2020 and the first half of 2021. In mid of 2021, realizing the implications that NFTs can revolutionize gaming into a field where gamers can play and make a living from their investments and efforts, we developed our game, CryptoWar $xBlade (our initial token ticker) which works fine.
If you take a look at GameFi projects, you will see how $xBlade hold its price very well.
It is because we have solid idea behind our GameFi financial model. Even so, the instinct mechanic of GameFi is unsustainable and can not be fixed.
Consequently, our team recognized its vital weaknesses and decide to switch our project to Metaverse. We would prefer to call it as a digital world rather than a too broad term like Metaverse.
The OpenWorld project is a Metaverse project with a sound circular economy based on real monetary flow.
OpenWorld envisions to open a new dimension for everyone to connect, play, express themselves, and find happiness
The token smart contract address is the same, only token name & ticker changed and so far we already successfully updated information on both Coinmarketcap and Coingecko.
More important, OpenWorld $OPEN has been verified its marketcap which make our project is one of miniority crypto projects have marketcap verified.
Even though we started building the project as a GameFi (with already built-up P2E and PvP feature) on BSC, we want to upgrade our project into building a synthetic digital world that mainly base on Harmony as our main chain, and then spread out multi-chain from there.
You can follow our thread in Harmony forum there
Our digital world will have all current DeFi features buildable in the market:
Single-Asset Staking, LP Staking.
GameFi features P2E, PvP (already proved capability with our current mini-game CryptoWar xBlade), and many more metaverse features in the long run: Avatar, Avatar customization, circular economy, digital value creation, social networking inside synthetic world, etc.
This is a big picture view about how we see our project:
Mr. David | TribeOne:
So, in terms of technology and finance, what will help OpenWorld differentiate from GameFi projects and be a sustainable, healthy one?
Mr. TranDzung | OpenWorld: Thanks for the great question.
Basically, let’s look at the main reasons why the branch industry GameFi fails. It is because they don’t have a healthy economy in game, in their ecosystem. Even Axie Infinity is on the verge of collapse even without the recent hack. The growth of GameFi economy based on how they can attract new gamers and how much their gamers, speculators readily to spend money. Mostly, what they need is money from the game, they just want to earn. So when the main reasons why they start off disappears, they leave the game, and the momentum of growth can’t maintain, the whole economy in-game will collapse and unstoppable.
Our solution is to build up the OpenWorld digital world with 3 main pillars:
- Finance: Balanced circular economy
- Digital experience: Entertained and value-created digital interactions
- Art: Beautiful and distinct design from visual to sound.
From technology side, we are doing our best to capture those 2 critical development in the industry.
(1) Currently we build our digital world 100% on-chain, so it’s completely transparent and secure. In the future, we will develop on-chain/off-chain structure with our game to so that we can expand our game into more complex functionalities
(2) Initially, our token is on Binance Smart Chain but we are switching to Harmony $ONE. Soon we will partially burn our token on Binance Smart Chain and bridge the same amount to Harmony.
You should know that our project already granted $50,000 by Harmony and it’s just the beginning. Our ambitious plan is to build up a strong project which will play as an important one in Harmony ecosystem. They need to diversify their ecosystem and we need a good chain to deploy our project on. It’s a win-win cooperation!
From the finance side, we think that what make OpenWorld different is we try to build a balanced circular economy in various aspects: the world itself should both create enjoyment for players to play and provide them an opportunity to make money.
Mr. David | TribeOne:
Could you please tell us about the goals you want to achieve this year?
Mr. TranDzung | OpenWorld: et’s look at 2 parts:
(1) what we’ve achieve with our mini-game CryptoWar;
(2) our Roadmap for OpenWorld.
(1) With Mini-game CryptoWar:
- We have lots of game transactions, trading and big, active communities from global to local
- We have PvE to PvP but we want to build something better.
- It’s why we will stop this mini-game on 6th June 2022
- NFTs from the mini-game will be converted to OpenWorld NFTs.
(2) OpenWorld: Check the roadmap there, phase 2:
Above is our Roadmap for phase 2. A general roadmap is as follows
Sneak peek on what’s going on recently
- Map of the digital world has been completed
- Technopocence is a centre city of OpenWorld
- Coding is in-progress for the OpenWorld initiation
- We officially granted $50,000 by Harmony $ONE
- We are in a $500,000 Seed Fund-raising
- A bridge from BSC to Harmony is successfully deployed
- Our team will have an internal demo of our prototype tomorrow 🔥
Let’s see some screenshot of OpenWorld
It’s for Art (one of 3 pillars)
Coding is in progress
Finance is solid (in thinking, idea, and model)
Mr. David | TribeOne: There are a lot of interesting features that this project has.
What are your plans for fundraising and expanding your team for OpenWorld development?
Mr. TranDzung | OpenWorld: A nice question, thanks!
About our team
- Currently we have 20 members (8 blockchain/smart contract dev), the team mainly bases in Vietnam.
- The project and token are live in BSC and ThunderCore, about 200 active gamers with our mini-game, 60K+ transactions in game, 1000+ NFT sold.
About fund raising
- We are looking for $500K in Series Seed at target valuation at $5M to build up the metaverse prototype (the prototype will include on-chain DeFi and GameFi features that we built: staking, bond, P2E PvP, and may have on-chain/off-chain structure (we are debating this, not quite sure if we have enough time to put this in prototype of this will come after the prototype)
- After that we aim for $5M-$10M on Series A to build the actual metaverse in MMORPG style with a major focus on digital value creation and circular economy.
For the next 6–9 months, we focus on the Seed round, build up all-star team, and build up prototype.
- The recruitment will need: 1 Chief Product Officer (Game Director), 2–3 Senior Game Dev, 2–3 Artist (including 1 Art/Creative Director).
- We also need to build up our Advisor Board. The fields of Advisors we target is: 1 PE/VC, 1 Blockchain (Hopefully one from Harmony), 1 Game (Management — Background in MMORPG), 1 Game Tech, 1 Blockchain Tech.
We need help on every front: building this up is challenging because we need to build a good MMORPG with thoughtful economy design with an on-chain/off-chain structure that is secured on blockchain.
A lot of things have to be well designed and worked well together. So we are very much appreciate any help into our direction.
Mr. David | TribeOne: I believe we got a lot of details by this time. Are you ready to answer questions from our Twitter community?
Mr. TranDzung | OpenWorld: Yeah sure!
Mr. David | TribeOne: This question is from @Msmijinyawa:
Open has proven strength in the wave of the deep, can you please share the secret behind the strength of open world success in battling with what the likes of sol and other considered mighty project couldn’t resit? That’s downtrend.
Mr. TranDzung | OpenWorld: First, let’s consider how strength of a project is built? You must read it right especially after the fiasco of $UST $LUNA. I hope everyone is safe and did not lose there but lesson learned from it.
You can build up a product, run massive and attractive marketing but if your concept for it is wrong or has deadly weakness, someday it will be harmful or in worst case kill your project.
Now, let’s move to GameFi. We don’t mock other GameFi projects but in fact the concept of GameFi is wrong, initially and you can not fix it completely.
We successfully build up a good finance model for Cryptowar but because of some weakness in GameFi, we want to do something better, with OpenWorld in which the sound circular economy will make it different than GameFi economy.
Again, we seriously think that people should be taught on how to invest rather than speculate and gamble. Fast comes fast goes and investment is not speculation or gambling.
Invest means finding a good one with your long term vision. You will stay with the project and company after you see their solid concept & promising products, ecosystem in future.
Sum up, it’s best with solid concept, education about project and true investment for investors is better than purely marketing, collect money, goes big and collapse. 🙂
Mr. David | TribeOne: Nice! I believe the question was answered completely. Let’s now move to the second question from our Twitter community.
This one is from @supolmson:
Your project rebranded from Xblade to what we have today with circular economy. What do we expect to see from your project in terms of making it keep growing as crypto space is facing bear circle.
Mr. TranDzung | OpenWorld: The term “circular economy” has its own meaning
That means in OpenWorld digital world, people will have chance and freedom to explore it and contribute to make a digital version of our world econnomy that is undoubtely circular.
It is based on a real monetary flow amongst members that makes it sustainable and long-lasting (if not want to say forever).
Our vision is to open a new dimension for everyone to connect, play, express themselves and find happiness.
Please read more there
A little bit off topic, make sure you subscribe to our Youtube channel and Weekly recap series
Mr. David | TribeOne: Let’s now give chance to our Telegram members by giving them time to ask questions regarding OpenWorld.
We will be giving 2–3 minutes to post your questions. 5 questions will be selected after the time allowance.
Mr. TranDzung | OpenWorld: Nice, let’s move on. I am waiting for member questions
Mr. David | TribeOne: Come on, Tribe! This is your chance to ask @TranDzungOW anything you want regarding this project.
Mr. TranDzung | OpenWorld: so let me answer this question first, from @Annatte
The NFTs and Metaverse is trending nowadays.NFT are the assets user can own&invest in within the metaverse.What kind of NFT we can expect in OpenWorld?Metaverse are full of opportunities but it can be risky,especially for new user. What we can expect from OW&TribeOne partnership?
NFT and Metaverse are trending but as in all trends, there are good and bad projects.
As I told earlier, concept is key to verify a potential of one project. From a good concept, you can build up a good product, and on top of that you can add Blockchain, NFT, Metaverse features, whatever that match with your project.
In OpenWorld, we will have different NFTs for people to explore our digital world.
In addition, as said, our project rebrand from CryptoWar (with a same smart contract that is unchanged), there will be conversion for CryptoWar NFT to OpenWorld NFT.
It’s a Blacksmith Profession
It’s an Opener Profession
It’s a Supplier Profession
Additionally, our Castle will bring multiple options for you to choose from Banks, Weapons, Land auction, and shop. Remember all of these are part of the world, and part of the circular economy!
About this partnership, firstly we will do marketing and build a Partnership Alliance.
Together we will support each other in long run, not only in marketing.
Anna: Look really nice! Thanks for the answer
Mr. TranDzung | OpenWorld: You’re welcome Anna
We have Substack with insights articles
Make sure you read it
Analytics on 10th-May massacre
The market has been in worst time since last many months. Again, Bitcoin triggered the market fall but it is supported…
Our team will rock internally tomorrow with the demo Anna. The market is bad generally but focus on building a good product is never wrong
Anna: Yeah in this bear market, $OPEN can maintain stable. Awesome!
Mr. TranDzung | OpenWorld: We will have rewards for three people from Twitter and you Anna with your live question
Mr. David | TribeOne: I believe we can call this a day. It has been a very informative day to know more about OpenWorld.
Thank you @TranDzungOW for OPENING our minds that there is more to explore in this WORLD of Metaverse.
And of course, thank you to our dearest community for participating and joining us here today.
Mr. TranDzung | OpenWorld: Me too on behalf of OpenWorld team.
For everyone, there is Linktree https://linktr.ee/OpenWorldVision in case you want to get more links of Openworld project
Thanks everyone for your time too.
See you tomorrow in our second AMA
Mr. David | TribeOne: See you tomorrow! Have a great day everyone! 😊