16 Dec AMA RECAP ON THE MONOPOLIST GLOBAL
SECTION 1: FREQUENTLY ASKED QUESTIONS FROM COMMUNITY
- What is your detailed plan for the next phase?
- Tournament 21 December
- Event box next week, on partners’ site
- NFT marketplace, end of december
- Pool mining end of december
- Mainnet beginning of jan
- MONOVerse in the near future, april — may
- I have played a few NFT games in the past but their economic model always failed to prevent inflation, which makes everything quickly go downhill. Axie is not an exception. Will MONO be any different?
The project will not comment on the systems of other NFT Games, and we only focus on developing our products with the top criterion is quality. Of course, the economy in the game is a very important factor. Part of the project’s revenue will come from Marketplace Fee, In-game Fee, NFT Sales, and other sales activities. Another part of it will be used as a Reward Pool for activities like Mining Camp, and another part will be used as a Liquidity Pool which helps increase the liquidity of $MONO. The project will only keep a part of the profits to maintain and continue to develop the game. Besides, the betting function for each match, and the winner will get all the $MONO bets are the factors to help avoid inflation. The market can completely self-regulate. This is a closed economic model that is mapped from the real-life economic model, so we are confident that it can completely become a sustainable economy and you will be a part of it, or it is what we call a true GameFi model.
All of the above factors, the project will summarize and officially announce about the Mono’s Economy in the next few days.
- How do players earn profit?
Firstly, the Monopolist Mining Camp will be one of many ways that players can earn profit from. The token earning speed will depend on your hash power, the more hash power (NFTs) you possess, the more tokens you will receive. These tokens will be distributed from our Mining Camp pool which will be reinvested by our revenues from the sales of NFT and boxes. This means that we are not pursuing the Ponzi scheme, in which developers pay profits to earlier investors with funds from more recent investors. Therefore, to start earning through our Mining Camp, you only need to pay a small amount of money — $10, which we have not seen from any projects before.
Secondly, when participating in the game, it will depend on your skills and luck to win the match and earn the deposited tokens of other participants. We only take a small amount of fees for each match and the token earnt will be burnt, which means that your in-game skills will determine the amount of tokens you could earn. In addition, you also need to take the risks of losses which means your deposited token will be taken by the winner of the match. In case you do not wish to take the risks, you can still earn your profit through mining.
Thirdly, tournaments with a clear and structured timeline will be a great opportunity for you to achieve huge rewards, including tokens, limited and high-valuable NFTs. All will depend on the skills and luck of the players.
- For some reasons, new games in this space aren’t always sustainable. What is your strategy with MONO in the long run?
As mentioned in the second question, we want to focus on our own quality rather than spending time looking at other competitors. That doesn’t mean we don’t care about them at all, The MONO team looks at the long-term goal and the sustainability through 2 factors. First, there are no barriers for newbies. To start the game, players only need 10$ for a box which includes random NFTs and 500 MONO as the minimum bet. The game rules are really simple and common as most of you have known: rolling dice and building your own monopoly.
Let’s take a look at Google Play and App Store, you can still see many games that have different visuals and designs but the gameplay is similar to The Monopoly. This is because of the simpleness of the game yet still very entertaining.
The second factor is that even though we have the Play to Earn functions, we are not abusing these functions to attract people to play the game. Overall, the main purpose of the game needs to fulfill the entertaining purposes first before considering a tool to make money. And being a game, it first needs to be entertaining, fun, amusing and especially updated continuously with a long-term vision. That is what The Monopolist are heading to. We need you to support us to develop our desired product.
SECTION 2: LIVE QUESTIONS FROM COMMUNITY
The Monopolist has many partners, but not all of them are supportive and trustworthy. What can you do about this situation?
Well, we do have many partners and backers, as listed on our website. At the launching phase, we can’t deny the thorough support and help with marketing we have received from them. Without them, we couldn’t have achieved the success during the IDO. After IDO, we can’t control every single partner and things might have gotten out of hand with a few of them and we know it’s unfortunate. However, partners who are still staying with us are guaranteed to be highly reliable and will fully support the project in the long run. Thank you for the concern!
The volume of players will be much higher when it’s easily accessible to everyone, how can you ensure your server does not go overloaded when the tournament launches?
Currently, we are working really hard on the tech side to maintain a high-quality and accessible server so players have the best experience in the game. We also constantly collect feedback from the testnet version and try to improve every single bug or error. In the tournament, the number of rooms has been limited to 450–600 to ensure the server doesn’t get overloaded as well.
Why does the price of $MONO keep falling?
There are 3 main reasons:
- Recent market downward trend in small time-scale: BTC price going down leads to the fall of other ALT coins
- Listing MEXC: Price is not decided by The Monopolist. Listing price is upto MEXC
- Investors jump in and out of the market due to impatience, causing confusion and fear in the community
We are still working day and night to finalise our projects as well as building up innovation investing functions for our investors. If you are into GameFi, we hope that you could see our efforts in developing the game sustainably in the long-run. Price going down is not what we desire but please be patient with us.
I am very concerned about the price of MONO recently. What can you guarantee in the future?
We’re aware that the prices have decreased significantly in the past weeks, especially after the listing on MEXC. As developers, we are incredibly sorry for this unfortunate situation as this is completely unforeseeable and also appreciate all the investors who have been supporting and staying with us until today. In this crypto space, a general rule is high risks, high returns and of course, patient players will be awarded deservingly. Please have faith in our team, we are still here and will not be going anywhere to support everyone. In the next few months, MONO will get explosive with the release of mainnet and a completely new game, also in the MONO ecosystem.
Next week, we will have our INOs on 4 partners’ platforms so we will definitely benefit from cross-marketing activities, followed by very strong marketing activities. This will definitely boost MONO price so stay tuned as we update more information on our site.
Why was the MONO listed on MEXC at $0.007?
We have negotiated with MEXC to list the price at 0.01 at the beginning but it was MEXC’s decision to list the token at $0.007. MEXC’s technical team has rationalized this opening price as projects would have a better opening by lowering the team’s burden so that the curve can maintain.
Mainnet launch date? At the beginning of January
I see that you can only bet 500 MONO each game. With MONO’s current price, it’s not an exciting reward at all, how can you attract players if the return is so little?
500 MONO is the MINIMUM bet amount you can place in the game, you can deposit up to 10,000 MONO if you wish to. This is also not the only way you can earn in the game, as you can also earn in Staking, Mining Camp and by owning in-game NFTs,… All of these features are due to release within December so stay tuned for more updates. In the meantime, you can look at our whitepaper and pitch deck for more information about the game.
Recommendation about partnering with ButterSwap. Thank you for this recommendation. Our team will look into it!
And that’s a wrap. Thank you for joining the AMA session.