LBank AMA Recap with VT
On 12 May we held an AMA with the VT 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.
Hi LBank, I’m Altug Isler. Co-Founder of Virtual Tourist
Virtual Tourist is a metaverse VR gaming platform for learning, socializing, and earning with the Virtual Tourism concept.
Well it is a project that allows people to discover different destinations from their own homes and socialize in an addictive way.
I am a crypto investor and I only care about the prospect of crypto that I chose, tell me the reason why I should choose your coin over the existing one? What is your coin advantage that can convince me to change from my favorite coin?
Both metaverse and virtual tourism markets will grow more than 100x in the next 10 years. Our aim is to create value in that field and reach to huge user numbers. People are investing in some tokens selling dream but we will create a value they can actually join, play and earn.
Virtual tourism has lots of different advantages; it removes costs and time-consuming process of real-world experiences. It has a strong influence on people’s on-site destination choices and will be a valuable marketing tool to promote destinations. Also, VT provides virtually accessibility for everyone, especially for the elderly and disabled with limited mobility. We will use all of these advantages to our success.
Tell us about your ecosystem. What besides the token is included in your ecosystem, and what are you working on now? Will there be any platform releases soon?
As I mentioned earlier, Virtual Tourist is a Virtual Reality gaming platform using the Virtual Tourism concept. People will be able to travel, learn and socialize on our gaming apps. Our flagship VT App will be released later this year. Our aim is to provide it to all VR hardwares and pc. We will publish a utility NFT collection will be use as avatar ingame too.
We also plan for next your to bring VT to mobile Apps.
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
We saw lots of 2D games from early 2000’s calling themselves as “Meteverse” now but we believe it is not that simple. Our biggest difference is we will create solid Virtual Reality app will be use the technology of the future. We all know the market’s current situation is not cool and even the biggest projects suffering from it. So will spend our time in bear market to build our apps and turn our promises to reality.
Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term, and what is your plan to increase the demand and scarcity of the token?
Metaverse is still in its early days so consider this is like a buying field from future’s city center. The number of VR hardwares in people increasing, big companies like Facebook, Apple, Alibaba and more started to huge investments on this field.
So we can clearly say there will be a huge Metaverse pump on next bull run. These days are the best time to collect tokens for long term investment. People who invest metaverse projects may earn huge profits if they invest on these prices. We believe Virtual Tourist will be one of the big gainers of next Metaverse run.
My Final question is about your long-term marketing plans. How or through which big partnerships do you plan on utilising to pass your product onto the normal, especially non-crypto people?
We are planning to get listed on VR stores like Oculues Store with our App’s non-crypto version too. So we will reach big audience specially from non-crypto world.
We all know bear market is not the best time to focus marketing it is time for building. We are making preparations for the right time. Our aim is to create local communities around the world. We are working with top influencers and KOLs from EU and Asia region, we will start aggresive marketing plan when market conditions are right.
Will there be any possibility to make revenues like during we experience a Pokemon Go-style game?
Yes, when people spend their times and do achievements in game they will earn VT token.
Right now, what place or country can we visit in your upcoming platform release? Will there be additional places to add?
Currently we started with one the most universal tourism symbol, Hagia Sophia. We will add important locations to the platform in future. We will make community pools to decide new location.
*Lack of usage of NFTs
How do you plan to solve this, if it happens
- Liquidity will come with marketing and with increase of real life users.
-NFT’s are our in game avatars, if you wont have an nft you only can use basic avatars in game. So if numbers of user increase dement to NFTs wil increase too
-We will finish our beta next months and people can see the live trailer too. And main version of game will be live in these year. We dont have a roadmap takes years to do something, people will be able to see are we selling dreams or not very quickly.
Do you require users to have a VR equipment to experience the full features of your project? Especially when visiting Virtual Places?
Yes people will be needed to VR equipment to enter VT metaverse. We know its a disadvantage in short term but having a VR headset will be common as having a cell phone in 3–5 years.
Token burn is important to increase value and price a token? do u have buy-back or maybe burn system and how does it work? @altugisler
We will have token burn mechanism to control inflation. Common problem of gamefi’s are rewarding too much tokens to limited people and create inflation. We will burn all unspend reward token pool.