LBank AMA Recap with SYL
On 17 August we held an AMA with the SYL team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
Hello! My name is Youhyun Kim, one of the cofounders and CSO of SYLTARE
It’s a pleasure thanks for having us
This is Taehoon Lee, CPO of SYLTARE. Thanks for inviting us to LBANK official AMA 🙂
Hey guys, how’s it going. Leo from Syltare currently in the COO position.
We are soooo excited to talk about the roadmap and debut our project on Lbank AMA
Can you tell us some of the use-cases of the $SYL tokens in your platform? What are the uses of this tokens in your platform and in the market? What are the benefits when buying and holding $SYL tokens for a long period of time?
Our token is a governance token and also in a way a utility token.
It is used to purchase Karma Points, an in game utility currency.
Karma Points are used to purchase in-game items that will give you an edge when playing SYLTARE which in turn will allow you to earn more SYLTokens.
But the biggest use of Karma Points is that it is used to enter Sit&Go Tournaments where 2, 8, or 16 people participate in a tournament until a winner is crowned.
The top finishing players will be awarded SYLTokens.
Recently, a player won around 30,000 USDT playing our Sit n Gos
All in all, we believe that we are in the sweet spot where we could learn from all our predecessors all the while being able to enjoy the benefits of being the first mover in the second wave of P2E games.
Outside the game, we are also working with various companies that we are not allowed to disclose yet… but we are working on expanding our ecosystem outside the game as well..
Also, we are holding a one-time event regarding our SYLToken that we will reveal at the end of this AMA so please stick around!!
What are your plans to reach out to the global community on building and getting customers or users for partnerships that I should expect in these 2022 and 2023 years? How do you intend to solve the problems your target market has?
I’ll take this one guys
As everyone here is familiar with, the community is a very important part of any NFT project. Our team is very deeply aware of this, hence we focus on building a strong user base and a strong community rather than just pumping the number of members.
As many of you know, many P2Es have an innate pump & dump model, and they are discarded at the moment when the ROI falls below zero. However our game currently records a 7-day retention of over 90%, and we think such amazing figure is a result of a strong community. (This is not an open information, just telling the Lbank community…)
We think that our community approach is rather old-fashioned; We think dearly of our community and value opinions from it. It seems cheesy, but I think it is the most powerful way of making a strong community.
Since we started the global promotion from last month, we already have over 60k+ in our discord community and rising.
(Check out our discord link: https://discord.com/invite/Cb2tNa4zte)
And, as you asked about 2022 and 2023,
We plan to achieve growth in Southeast Asia, South America, China, and the Middle East sequentially, and we plan to grow the community fit to the culture of each region. We have our global team consisting of international talents, which allows for us to achieve our goal in the global scale.
Our community team is very confident, and in the end we see that all markets have one problem. There really isn’t many long-running P2E game with good community-oriented gameplay. We will compete with good products and sincere community building.
Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieving the goals set. What is your strategy to attract new users and Investors to your project and keep them long-term?
I think I’ll take that one too, I think previous answer entours the answer to this question.
A good product is the best marketing. Of course, our team understands that it is difficult to survive in this industry without ANY marketing.
We’ve come this far with help of our community and good product team. That seems to be all until now, but we are preparing massive marketing contents and events to allure the global audience.
When the PR we are preparing now and partnerships with the countries we plan to expand are revealed, we are sure that marketing is another edge that the Syltare team has.
As our AMA goes by, I think we will open up much more info in this session 🙂
Collaboration and partnership in the PLAY TO EARN project is a key factor to help the project enter new markets and increase its adoption. Name some of your current partners, expansion plans, and what can be expected through this collaborative relationship?
I will take this one guys
SYLTARE team is looking at Southeast Asia as the first market, since it has a large population and is familiar with P2E.
In our global launch, Vietnam is the biggest target and a massive marketing is underway.
Currently, about 10,000 people have gathered in the Vietnam Telegram community within 10 days of its opening, and more than 65K people have gathered in our official discord community.
Here are some of the key partners on our journey:
Creatory is a leading MCN company in Vietnam and is currently leading the successful marketing of Vietnam’s influencer, with 40 million Facebook subscribers, more than 50 million YouTube subscribers, and more than 500 million video views per month through 50 exclusive creators. We are conducting most of our marketing through Creatory.
⁃ Mirae Asset Venture Investment(Investment)
Mirae Asset Venture Investment is a leading investment group in South Korea and SYLTARE’s early investor. With AUM over $800million, Mirae Asset has always been and will always support our team.
⁃ Blockchain Network Philippines(Community Moderator/Global Channel)
BNP is a Philippines local agency specialising in the crypto market that operates communities of about 7.33 million people through partnerships with various crypto community channels.
⁃ Crypto Virally(Global PR)
CryptoVirally is a full-service marketing agency that specializes in promoting new crypto projects all over the world.
CryptoVirally also presents a rundown of top clients they have worked with before, including the likes of OKEx and Shrimpy.
Also, since our company is based in South Korea, we have conducted several collaborations with top-tier Korean conglomerates such as Hyundai Motor Company, Hyundai Card, Shinsegae Group etc.
After successful entry into Vietnam, we are planning to enter the Philippines and Brazil, and for this purpose, we are already discussing cooperation with KOL and guilds in the Philippines and Brazil. I would share more details when the deals close 🙂:
Can you share the sales information of SYLTARE NFT in 3 stages such as pre-sale 1, pre-sale 2 and Public sale? what are the NFT Business opportunities in SYLTARE? what kind of unique NFT does your project have?
Our initial private sale made up 4% of our total amount and were sold to our investors, KAKAO VENTURES, MIRAE ASSET VENTURES, and WEMADE TREE.
Other than this, we did not go through any ICO or sales.
As for the NFTs, our initial 10,000 genesis NFT cards were sold out in 0.8 seconds for a total of 7.8 million USD.
I believe this record still remains unbroken worldwide!
These NFTs can be staked.
The staked NFT cards are borrowed by players and in return, the profits from the players are then shared with the NFT holders.
By separating the NFT investors and the game players, we were able to make a truly free-to-play game that doesn’t require any scholarship program.
We are also preparing the launch of our second batch of NFT cards that will be targeted towards the global market.
I can’t share too much information regarding our second NFT card minting but it will be soon!
Can you explain, which one is your top priority? Security, Product, Partnership, or Token price? Feetback
To put it most simply, I would say Token Price.
To explain a little bit more in detail, in order to have a sustainable tokenomics and increase/maintain the token price,
We believe that product, security and partnership must go hand in hand.
But all those factors are to hold up our Token
To sum up, SYLToken is our top priority, and to do so, we must put all of our efforts into developing a secure product.
What strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Our game is probably the most simplistic game for non-crypto natives.
A player only needs a metamask wallet to play our game.
No nfts, no cryptocurrency is required to play.
Also, the game is a web-based game which means it supports all platforms and mobile as well.
The game itself is very simple and addictive in a way that I’m confident that a newcomer will be able to grasp the game mechanics after 15~20 minutes.
To answer the technology part of the question, we will answer a similar question soon!
Hi @kimyouhyun @Leoshim @Nooheat Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?
Let us show you some of our introductory videos that we have not revealed yet elsewhere!
1. Game Modes
2. Character Introductions
Finally, I would love to share the video of how we are conducting marketing in South Korea.
Welcome to the SYLTARE universe.
‼️Don’t forget to subscribe our channel‼️
Hi @kimyouhyun @Leoshim @Nooheat How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
We have 140 people in our company. Our CEO is a renowned figure as a hacker in South Korea with Ph.D. in Computer Science, so we always brag about our excellence in technology as we carefully choose our team members; only the top talent in the market.
We have brought many concepts into the South Korean NFT frontier such as revealing, minting with anti-bot system, migrating et cetera. We are known for handling various situations techwise; many other NFT companies in South Korea come to us for advising in their codes.
We already had a lot of hackathon in South Korea based in both WEB2 and WEB3 area; globally #1 as we had experience of holding more than 1,000 people in one arena.
We built more than 6 products in the past 6 months all in the crypto plane.
I think it’s safe to say we are experienced in both crypto projects and non-crypto project.
Hi @kimyouhyun @Leoshim @Nooheat Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product.
My favorite question 🙂
Since our team got together last December, we’ve launched 2 mini-games, 3 CBTs and every time, major changes were made for the better thanks to our community feedback.
Also, our game team consists of Hong Jin-Ho, the world’s top Starcraft Gamer, game development professionals from the teams that created FIFA, Lineage and other world-renowned games.
As for the ideal consumer/target audience, we found it necessary to separate gamers from our investors. We acknowledge that they are different in nature which is why we target them differently.
Do you have a whitepaper? If yes, please share it with us. Secondly, Do you have plans for pre-sale? Now where can I join it?
Yes we do!!
I think that’s it for questions … but one last thing!
To celebrate our listing on LBANK and our global launch TOMORROW, we are holding an event for SYLToken holders.
This will just be a one-time event.
People will be able to stake SYLTokens on a first-come first-served basis and earn APR in return.
For anyone interested, make sure to have SYLTokens ready for the 20th!! which is when the event opens.
Also, as I’ve previously mentioned!!
Our game will officially launch TOMORROW.
It is 100% FREE TO PLAY and super addictive so please come check it out.
GAME LINK: https://game.syltare.com/