Ultiarena x Satoshi Club AMA Recap from 25th of June


Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Ultiarena and our guest was @dukevu, @harzojunior, and @korw11 — representatives of Ultiarena. The AMA took place on 25th of June.

The total reward pool was 500$ and has been split into 3 parts.

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Website

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with UltiAtena! Welcome to Satoshi Club

D. | Satoshi Club:
Today our guests — @dukevu @harzojunior @korw11 !

Hey guys! how are you?

Duke Vu:
Awesome! Thanks for inviting us!

harzo:
Hello everyone!

Mary | Satoshi Club:
Welcome here

D. | Satoshi Club:

Let’s start our AMA whit introduction

Mary | Satoshi Club:
We always happy to see new promising projects in Satoshi Club!

And yes! Let’s start with intro

Guys, could you please introduce yourself and tell us more about UltiArena!

Duke Vu:
Alright a few things about myself

I’m CEO & Founder of Ulti Arena — a NFT marketplace for Game Assets with Proof-of-Gaming. My first entrepreneurial experience was with MyBaze.com — an online marketplace for up-and-coming brands, we generated over $100k in monthly turnover and also managed to raise $1.5 mln from a VC Fund (you can read it here: https://mci.pl/en/mci-invests-in-mybaze-com-an-online-platform-integrating-sellers-and-buyers-in-the-design-industry) . I then founded 2 other companies. One was sold, Risen a Software Development company of 40 people with Python/React to Netguru. The other was iMeshup — a 3D collaboration tool for Game Studios (showcase of product here: https://www.youtube.com/watch?v=y-wrvv-F8vg) . I’ve also had my fair share of experience in Corporations (PwC and American Express). I’m also Chief Commercial Officer of Pragmatic Coders — a Blockchain / DeFi development company.

harzo:
Nice to see u all! I am the CTO of UltiArena but I am also blockchain enthusiast for over 4 years and a developer for over 7. I have worked with several Bitcoin-based coins and multiple Smart contract-based projects like wraps, ICOs, and coins.

D. | Satoshi Club:
Impressive

Duke Vu:
Thanks!

Nice also increased your reputation.

Mary | Satoshi Club:
Awesome experience, when did you first heard about crypto?

Our bot is very sensitive

Duke Vu:
I’ve heard about Crypto in 2017 when one of my ex-CoFounders invited me to invest in a couple of ICO’s. I can’t remember how much I invested but there was such hype that I went in without much research — trusting my friend. Obviously, most of the projects failed and were nowhere to be seen later but there was one which I actually made money on. Then I’ve abandoned the crypto space for a while and now I’m back in full force — thanks in part due to joining to Pragmatic Coders where we built Crypto Exchanges and Mobile Banks / Blockchain Solutions

It’s a little bit better now but a lot of projects still fail to deliver real value.

Mary | Satoshi Club:
Oh, it’s so familiar story! But i am happy that you didn’t give up and now we are welcoming UltiArena here

D. | Satoshi Club:
True. most of them I would say

Mary | Satoshi Club:
So, can you tell us what is UltiArena?

Duke Vu:
Ulti Arena is a NFT marketplace for Game Assets. Buyers/sellers can trade unique 2D/3D assets, Music, Sound and UI/HUD on the platform. Additionally we’ll implement Proof-of-Gaming, a gaming client allowing you to earn $ULTI when playing games such as DOTA2. Our Tokenomics is simple: there’s a 6% tax on each transaction once we’re listed on PCS, 2% burn, 2% reflection and 2% auto-LP. Additionally we give back to all $ULTI holders 30% of all NFT marketplace’s platform revenue.

D. | Satoshi Club:
Sounds nice!

Mary | Satoshi Club:
Wow, that’s interesting! I think it’s time to dive deeper into the details with the questions from our community

Are you ready?

Duke Vu:
We want games to be decentralized — game assets being shared among games. Imagine owning a sword in one game and it’s forever yours, not belonging to the game studio and transferable among games.

Yep let’s go

Q1 from Telegram user @xperia3
There are many pre-sale dates in your pre-sale plan. What is the reason of it? What advantages does it have having that much pre-sales instead of one? What are the vesting periods? Do you have a plan against instant dumping at your launch such as token lock or liquidity lock?

Duke Vu:

  1. Our most important mission is to build ACTUAL product: NFT Marketplace with Proof-of-Gaming. I believe that it will affect the long-term value of the project and we would much rather have investors believing in our vision than just day-traders getting in and out on Pancakeswap listing day,
  2. We need to hit the Asian markets: Japan, Korea, China, Philippines to gain the funding and traction. That many presales will be structured in a way that later rounds will be heavily advertised with: YouTube influencers, Twitch Streamers, Game Studios in Asia and North America. Without the funding we can’t do the big bang!
  3. PreSales will allow us to prepare better for a larger IDO on PCS and also CEX (Kucoin, Bitmart, Binance) listings — our advisors have connections and we can get there quickly. But we need time and funding to get Market Makers and also sufficient Liquidity Pool to play in the Big League (not just PancakeSwap)

Vesting $ULTI for team is 12 months and then 3% monthly

harzo:
Also on 12th September after ILO we are going to lock LP tokens with Unicrypt.

Duke Vu:
We have anti-dumping rule coded in the contract: all presales investors will be able to claim 10% of $ULTI’s on TGE / PCS listing day on 12th September, then again locked for 20 days and then unlocked 1% daily

D. | Satoshi Club:
I have heard gaming culture is very popular in Asia, especially in Korea.

Duke Vu:
DOTA2 and LOL are actually everywhere but yes, it’s crazy in South Korea and Japan

Mary | Satoshi Club:
So, your Sales will finish on 12th of September?

Duke Vu:
Yes — we understand that’s a long time, but to deliver a real product we need time and investment to put into coding / development. And it’s actually a good way to weed out daytraders during presales — only royal investors with long-term vision such as ours

Mary | Satoshi Club:
Where Sales will take place? On your website?

Duke Vu:
Due to large interest in Polkastarter /Duckdao and other IDO platforms — we have developed our own https://launchpad.ultiarena.com/ — you can join and see for yourself how it works. All necessary information was put there.

Mary | Satoshi Club:
Super! Satoshiclubbers, check all info

Thank you for your answers! Do you want to add something or we can go to the next question?

Duke Vu:
Let’s go next question

D. | Satoshi Club:

Q2 from Telegram user @h1drX
The maximum supply is set at 250 billion tokens, with private sale and pre-sale accounting for around 24% of the total supply. The remainder will be released for public sale and generated through Community Mining and Proof-of-Gaming. Can you explain what the Community Mining process consists of? Also, there are consensus mechanisms such as Proof-of-Stake or Proof-of-Work, but I had never heard of Proof-of-Gaming, can you give us more details about this consensus mechanism? Can it be called a consensus mechanism? Does it bear a certain similarity to the other consensus mechanisms?

Duke Vu:
Community Mining will ensure that there will be a fair way to earn ULTI tokens: through participation in Discussion Boards, Competitions, Tournaments and by playing games offered by our Game Studio Partners.

The Proof-of-Gaming algorithm’s main idea is that gamers who spend time and GPU computational power should be the ones that could create and validate blockchain’s new blocks.

D. | Satoshi Club:
So it’s like a way of distribution your tokens. how long it will last? when all of token supply will be on market?

Duke Vu:
Key parts of the validation algorithm are:

Player’s rank in comparison with other players,
Time spent in-game,
Core playstyle metrics: APM (Actions-Per-Minute), Aggression, TeamPlay, Economics, Leveling Speed, etc.
Game difficulty.

D. | Satoshi Club:
Nice, this is a cool way for gamers to make money and play their fav games.

Duke Vu:
ULTI Coin’s final mining blocks will be distributed to nodes. Every player will connect to games via Ulti Arena’s gaming client which in turn will provide necessary data for the hashing algorithm.
It will use the Zobrist hashing strategy which was originally devised for computer chess, Go, and other similar two player board games. It is a fast method to calculate and update a signature or key representing a given board position in Chess — but for more complex games it can also be optimized. The analogy is quite straightforward between a board game position and the configuration of MOBA games: types of pieces are analogous to characters chosen, and positions on the game board are analogous to player’s position in the game along with other player’s metrics and gametime that will be used.
Two features of the Zobrist key make it particularly useful amongst possible hash functions for representing gaming and mining configurations. Firstly, it maps similar configurations of player’s ranks and metrics to very different key values, and the distribution of key values is uniform across the space of all possible keys. Secondly, it can be calculated rapidly and incrementally.
A new block can be created as soon as someone finishes a game. The waiting time should be short, so that’s why most popular games will be chosen for mining ULTI Coins: DOTA2, LOL, Fornite etc. The distribution should be fair, so there should be a balance of reward between creators of new blocks and validators.

0*Men8dYXSfFHUxGxF.png

The mining difficulty based on Zobrist hash functions will increase over time with diminishing retuns from number of hours played, ranks and quality of gameplay (playstyle, APM etc.)

So there $ULTI will be hard and harder to get

And up until 2046 all to be mined.

Mary | Satoshi Club:
Long-term plans and that’s great!

Duke Vu:
Thanks!

Nice increased reputation again

Mary | Satoshi Club:
Do you know any projects on the market which already using such system?

Duke Vu:
No, we’re not aware of any.

I believe we’re first in the space to connect the Gaming and Crypto industry with a new consensus mechanism

Mary | Satoshi Club:
Super! We like to try new systems!

Thank you for your answers! Ready to proceed?

Duke Vu:
Let’s go!

Q3 from Telegram user @Arisabela
Days ago, specifically in May, you announced that your contract is on TestNet and that it would soon be released for a professional audition, is this done? Can you tell us what security measures have been taken for the platform? Perhaps a partnership that is an expert on this topic?

Duke Vu:
Yes we had our contracts audited twice, with Solidity Finance and Techrate, you can see them here: https://solidity.finance/audits/Ulticoin/ and https://github.com/TechRate/Smart-Contract-Audits/blob/main/UltiArena.pdf

As for security measures, we’re in the phase of migrating everything on AWS and also our NFT marketplace with Proof-of-Gaming will also be run there with strict security measures.

Mary | Satoshi Club:
Fantastic!

What about your Testnet? Who can participate in testing? What results did you get?

Duke Vu:
Before Pancakeswap launch, we will have our contracts audited by Hackend or Certik too to prevent Sniper Bots or other attacks on Pancakeswap Launch

Testnet NFT Marketplace will be available to test in September

Mary | Satoshi Club:
Wow! You really take security seriously!

Thank you for your answers! Ready for the next question?

Duke Vu:
Yes we want to protect our investors assets

Yep next.

Q4 from Telegram user @ysasoma
The competition is fierce, so, how Ulti Arena will be always competitive in the market, what characteristics will allow you to be unique, that is to say, what is the unique value contribution that you will offer to the users, so that they will select you before any other current project or project that may come in the future?

Duke Vu:
We are actually the FIRST NFT marketplace for Game Assets — no one has ever built such in the past

Our vision is to decentralize the making of games. Games are being developed in a centralized way: game studios hire artists, developers, and managers to produce assets, sounds, music, User Interfaces — for each game there are hundreds if not thousands of assets being produced. Why should one asset be used in a game only once by a player? Why shouldn’t they own that asset and transfer it to other games? Artists should also be able to track their creatives to see in what games were used and how they were used by the players. All these challenges can be easily solved by implementing NFT’s to game assets.

We believe that NFT’s will change the world of gaming as we know it. Imagine every game in the future to be made on Blockchain — you can transfer any existing game items from one to another. Assets can be traceable and also unique — artists and developers will have new ways to monetize their creations and see how they’re used. Building games on Blockchain can improve the overall experience:
-Game items will be transferable to other games,
-Unique items will be forever unique and one-of-a-kind as NFT’s,
-A decentralized way of making games will involve the community more, which will lead to greater sales for a particular game,
-Game Assets, Music, Sound, User Interfaces can be used in multiple games but they will be traceable — actual reliable statistics can be made.

Next thing: we’ll be the first to implement Proof-of-Gaming, our original concept of Playing and Earning

Mary | Satoshi Club:
Do you already prepared some partnerships with game industry players?

Duke Vu:
Once we’re deeper into coding the NFT marketplace we’ll start onboarding both Game Artists / Developers and Game Studios — our Sales team will focus on that

We’re talking about 1 month from now

Mary | Satoshi Club:
We will follow your updates! Sure you will have a lot of surprises for you users!

Thank you for your answers! Ready to jump to the next question?

Duke Vu:
Yes, can’t wait!

Q5 from Telegram user @MCBTrade
Since UltiArena is an NFT marketplace for Gaming Assets, once we buy these assets, what kind of games will we be able to use them for? Can we implement these assets in our own games or design new NFT games using these assets? Could you give a little more information about this?

Duke Vu:
You’ll know the origins and any follow-up buyer of the NFT’s — those game assets can be used in any game be it non-blockchain or blockchain-based games. The NFT will be a “certificate” that you own that piece of asset: 2D/3D characters, music / FX Sound, UI/HUD

Yes you’ll be able to design new assets using the ones you bought as NFT’s. We will also develop a plugin for Unity / Unreal Engine to instantly export assets as NFT’s into our marketplace

Of course, as part of our mission, we will want all games to have assets recorded on the Blockchain — our vision is that games will be decentralized and every assets owned by the gamer will be visible and publicly verifiable

Imagine there will be no such Dupe Hacks as in Diablo 2 back in the days

Mary | Satoshi Club:
Will you have any kind of KYC verification on your platform?

Duke Vu:
Yes we’re testing integration with ShuftiPro, it’s available here: https://whitelist.ultiarena.com/ BUT please don’t use it yet, we will make announcement in due time

Mary | Satoshi Club:
So, all users will need to pass it or you will have some limits?

Duke Vu:
We’ll make announcements in due time but generally yes

Mary | Satoshi Club:
Thank you for your answers! Ready for the 6th and last question from this part?

Duke Vu:
Yes!

Q6 from Telegram user @kimterbear
Ultiarena explained that Ultiarena client will operate on the background while users play their desired game in order to earn while playing. It was also mentioned that this will require large space in CPU/RAM. However, the games mentioned can also be experienced in mobile such as League of Legends, Fortnite, and other MOBA games. Mobiles don’t have much RAM as much as PCs have. My question is, can Ultiarena also be used in mobile gaming? How much RAM would it need in order to operate on a mobile game? Does Ultiarena also plan to have a client for mobile gaming?

Duke Vu:
Superb question. Our first focus in on PC Games — mobile will come next as this is a huge market in Asia. Certainly, mobile gaming clients will be differently optimized to give maximum performance for the game itself. But still, this is far down in the product roadmap so we don’t have any details yet.

Mary | Satoshi Club:
Gotcha!

D. | Satoshi Club:
Do you plan work with consoles?

Duke Vu:
This could prove challenging — no plans yet

D. | Satoshi Club:
Understood, thanks!

Part 2 — live questions from the Telegram community

Q1 from Telegram user @KhaleesiTheCryptoLady
I was trying to open Ulti Arena website but it shows me an error. Is it just a minor or major error? Can you tell us why was your website down? Because of the website error, the purchasing of ULTI tokens got affected and due to the incident, how will you ensure buyers that $ULTI tokens are safe to buy and will not going to rug pull or exit scam later on? Also, have you undergone audit?

Duke Vu:
This is a very important question: as previously we wrote, we’re migrating the website to Amazon Web Services to exactly mitigate any bugs/errors. Our launchpad is still online https://launchpad.ultiarena.com/ and you can access it / learn how to buy from it.

As for Rug Pulls and Scams — we have our reputation on the line here, our team is publicly revealed. We’re doing everything we can to update daily about our progress and plans to stay as transparent as possible.

We’ve done 2 audits https://solidity.finance/audits/Ulticoin/ and https://github.com/TechRate/Smart-Contract-Audits/blob/main/UltiArena.pdf

Q2 from Telegram user @Wong2008
Why gamers have to buy gaming licenses?

Duke Vu:
We will only allow $ULTI mining through properly and legally purchased licenses, also our Gaming Client will allow logging in only via Steam’s OAUTH at the beginning — so you have to purchase legally the games on Steam.

Q3 from Telegram user @highpee
How will you decide the amount that each user will receive from the 30% of platform revenue that you intend to give back to holders and how frequent will this profit be calculated and shared? And aside from the 2% of fees that is frictionlessly returned as passive reflex yield to users wallet, don’t you have plans to create staking or farming pools with nice APY for user to stake $ULTI?

Duke Vu:
Revenue share in instant: each NFT transaction on the platform will be recorded in the smart contract, revenues will be reflected right away to all $ULTI holders in batched sequences (not yet decided on the frequency but at least once a day)

Aside from 2% reflection, we will create staking possibility yes — APY TBD.

Q4 from Telegram user @Sumione
I love NFT Projects and do you have your own launchpad for presales or any other IDO platform which I can join?

Duke Vu:
As mentioned earlier we decided to go with our own launchpad available here: https://launchpad.ultiarena.com/ — first to make sure that there’s a single interest in our project not distracted by other projects in multiple-projects IDO platforms.

Q5 from Telegram user @h1drX
The Ulti token was launched on Binance Smart Chain, on your website you made clear your preference for this blockchain before Ethereum, but you plan to convert the Ulti Arena token multi-chain and expand to other chains such as Polygon, Solana or even Ethereum in the future?

Duke Vu:
Yes, we plan to implement both ERC-721 and BEP-721 standards — meaning cross-chain implementation of NFT’s. Polygon/Matic and Solana to be discussed but nothing is out of possibility.

Q6 from Telegram user @Rakshitx5
Usually, on platforms, few people get famous and their content is being shown and sold. Underdogs do not get a chance. So what are your plans to keep giving exposure to the newbies?

Duke Vu:
We plan to hold a contest where newcomers artists can showcase their works and get awarded. The contests will be dedicated only for newcomers and shown on top of website.

Q7 from Telegram user @NSZR1
In your whitepaper it says that 30% of all transaction fees / total revenue from NFT Marketplace and for Artists / Game Developers tools will be transferred to all $ULTI holders. This is amazing, however 30% is a high number to distribute for each transaction to each user. How can this business model be beneficial for UltiArena? How can you generate income through transactions between users if a large percentage of these will go to other users? Could this business model bring some kind of complications in the economic future of your project?

Duke Vu:
This we made to ensure a long-term hold value of $ULTI. Think of it as all $ULTI holders own 30% of the company. With the rest 70% — it is clearly described in the Whitepaper: 5% for the team and rest for Development / Marketing future growth of the platform.

Please don’t forget the Proof-of-Gaming which will mean Game Studios will WANT to cooperate with us as we’ll increase the number of hours played and also engagement in their games.

Q8 from Telegram user @Eisen_7
What’s the Favorit Game of the Team?
How long are u gaming yourself?

Duke Vu:
Awesome question :))) I myself started with Mario/ Contra on SNS back in the days and also went through every PS console generation. My recent favorite games are DOTA2, Overwatch and WoW Classic.

Q9 from Telegram user @jhauch
What do you see as your unfair advantage apart from being a first mover?

Duke Vu:
Unfair advantage is in our team who’s got tremendous both Technical Experience and Entrepreneurial Experience. As with every investment, we actually believe the team is the most important part of the project.

Q10 from Telegram user @Nhairym
Your goal is to create a platform to help artists and game developers evolve hand in hand with technology, but you have the technical strategies to protect the assets of the holders who join them, and what is the level of profitability that can offer artists and other people who join the project?

Duke Vu:
Artists will earn
1. 88% of what they sell, there will be 6% transaction fee (30% of which reflected to $ULTI holders) and 6% tax (2% reflected to $ULTI holders)
2. They will earn through Royalties when someone decides to further sell their work

Part 3 — Quiz Results

In the final part, we tested your knowledge in terms of Ultiarena. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
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