OPINION How South Korea's 'CLOY' can help Filipinos create a better future The Philippines has turned itself into nation of followers, not pioneers
Criselda Yabes February 12, 2021 17:00 JST
Hyun Bin during a press conference of tvN drama "Crashing Landing On You," pictured in December 2019: the drama series set off a tempest in the psyche of Filipinos. © Imazins/Getty Images Criselda Yabes is a journalist based in the Philippines. She is author of "The Battle of Marawi," her 10th book, which was published in September.
When the Philippines' Smart Communications chose South Korean actor Hyun Bin to endorse its products in May last year, the advertising matrix went through the roof.
Social media went into a frenzy. Despite being in the midst of the pandemic lockdown in the Philippines, which became one of the longest and harshest in the world, sales shot up.
The tag line for Smart Communications' campaign was that the heart-throb actor was "crashing" on one of the country's big telecoms, an allusion to the popular drama series Crash Landing on You, or CLOY, that seems to have been watched in nearly every Filipino household.
Up until then, ripples of South Korean entertainment had been felt in the Philippines. But CLOY set off a tempest in the psyche of the people, cutting across demographics right smack in the middle of a severe quarantine.
In a country that has seen too many of its own political dramas unfolding -- later this year, Smart Communications will release a new campaign featuring Korean pop sensation BTS -- the string of South Korean's culture brands had Filipinos discovering a newfound aspiration -- one that they would be willing to embrace for the lack of national embodiment at home.
Members of K-pop boy band BTS, pictured in November 2020: the string of South Korean's culture brands had Filipinos discovering a newfound aspiration. © Reuters Looking up to an Asian neighbor that had been far from their consciousness and geographically distant from its archipelagic shores, Filipinos came to a rude realization that they have been left behind in the region's rankings. They want to have the same tastes. They reach for swanky clothes and cars, and glamorous lovers. They marvel at the symbols of superstardom they could have had, if only.
If only they had seized the opportunity to hitch their wagon to a star in the postwar independence granted by the United States. America was the master colonizer that gave the Philippines "50 years in Hollywood." By that exposure to the West, Filipinos should have been the rightful heir to social and economic robustness in Asia. Decade by decade, that star sometimes had an alluring possibility for success, but it often faded.
Other countries in the neighborhood of Southeast Asia gradually came up to expectations, and the Philippines sighed; but the blast of hallyu, the Korean wave, from the north offered both the happy pill to salve the withering values of Filipinos and the slap of reality that they have downright slackened in their destiny. The Philippines shared some similarities with South Korea: both were invaded by Japan and suffered destruction. Later, in the 1970s, both fell under the oppression of martial law.
In the 1960s, when the Philippines was the envy of the lot, its GDP was slightly higher than South Korea's, almost standing shoulder-to-shoulder. Today there is no way the Philippines can compete with the magic of South Korea, where GDP has since risen to about five times more than the former's yearly average of about $350 billion. While South Korea was creating its miracle on the Han River, the Philippines was dumping sloth in its Pasig River and taking too much time to get its act together.
About 70% of the Philippine economy consists of consumer spending. Trade is a negative 9%. It does not earn enough from exports, which have been the big money-earner in South Korea's rise to prosperity. It has long sold electronics, automobiles and ships. Now it also sells music and movies. Filipinos labor on low wages for handicrafts and assembly of electronic parts for insignificant export dollars. Nothing would have stopped the Philippines from building shipyards, being a nation of thousands of islands, if it had tried. The Philippines later obtained much-needed fighter jets from South Korea, and one of those was used to bomb an Islamic city to end a siege by jihadis three years ago.
Filipinos' complacency seeped deep enough into their psyche that it limited the nation's field of vision, thus the dying twinkle of the star. Once, the Philippines had beaten South Korea by booting out a dictator in 1986, securing fame in the world of democracy. But South Korea also came around to kicking out authoritarian rule not long after. While struggling to learn how to govern themselves, Filipinos slowed down in terms of economic output. They became mere followers, not pioneers, on the economic leader board.
How did that happen? There is no push for a national strategy for competitiveness, despite the best minds and the wherewithal to expand beyond infrastructure already set in place from the colonial years. Instead, the export of human labor brought in dollars from abroad. Yearly overseas remittances contribute 12% to Philippine GDP, with Filipinos seeking brighter careers elsewhere because there is not much the government could offer in terms of employment and new workplaces. So you will likely find Filipino nurses in England, truck drivers in the tundra, and merchant mariners in the seven seas. And that is how they earn higher wages in places far from home.
At home, Filipinos nurture the dream that things might get better. The road to Hollywood has long past been overgrown with weeds. Hallyu is much closer, resonating to like-minded cultural values, but it is unreachable. "This creative economy synergizes mutual sustainability of the culture and business sectors, and eventually contributes to the stability of the nation," wrote Kyung Min Bae, research fellow at the University of the Philippines' Korea Research Center. "It is important to assure foreign countries that Korea went from being totally unknown to being globally acknowledged, and that is something Korea wishes to share with them."
The K-dramas are selling the love of a country and the world loves them in return. Perhaps this is where the Philippines could reboot itself by taking the most important ingredient in a plot to conquer all, and only then could it have the making of one of hallyu's most popular scripts: But will it have a happy ending or a sad ending?
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submitted by Read full story: medium.com/verasity On the 4th of February, we hosted an AMA with Verasity Founder R J Mark. Thank you to everyone who joined, we answered a lot of community questions in depth (39 in total!). If you missed it, below is the complete transcript. Exciting information in this, make sure to read it all. 👀
Hello Verasians. I am Bhav, the marketing manager at Verasity and I’m joined by R J Mark, the founder of Verasity. Thank you for joining us for this AMA! :smile:
Mark: Hello everyone. We will be answering all of the pertinent questions that the community have sent in throughout the week. Once these questions have been answered, I will open up the chat so you can ask further (non-repetitive please) questions, the chat will then close once more for Mark to answer. The transcript of this AMA will then be posted on our Medium.
Let’s get straight into it!
Q1) There will be no deadline on the swap so there is no rush and no fear of losing your tokens. They can be swapped at any time. Is that right? Absolutely right. There is no deadline on the swap For more details read:
VRA Token & PoV update Q2) Regarding the ERC777 Token Swap, you don’t need to withdraw to VeraWallet on the day of swap? Can I do it later? Correct, take your time, there is no rush. You can do it at any time. There is no deadline or end date for the swap. We are making this as seamless and easy as possible for everyone.
Seamless and easy. That’s the way forward ✅Q3) Will we see more movements from the Foundation wallet. What is this about? The Swap? That is correct. In anticipation of the swap company wallets’ tokens are being swapped via VeraWallet. See the article about this:
VRA Token & PoV update New Foundation wallets will be created to replace the old ones.
Q4) Any plans to keep staking beyond the 31/12/2021 deadline? We have not made a decision yet but liquidity mining is very much in play and could replace staking after Dec 2021. We will announce mid-year.
Q5) All the tournaments are free to join. How does that help the company to generate revenue? Is there a place or example where users/players are actually using the VRA token to get a product/service? _Great question!_The tournaments are free to join since we are focusing on adoption and scaling the number of users we have globally. Bringing as many people to the platform is our priority right now. As we expand and offer user-generated prize pools we will take a commission on the total jackpots as a revenue stream. In addition, other revenue flows will become available to us as we build our user base and launch our video player this Q1.
We will monetize our esports content through our video player within Esports Fight Club by serving ads from our ad partners:
Advertiser Partnership Update Esports Fight Club will require players to use VRA to purchase subscriptions via several payment systems: VeraWallet, PayPal and Credit Cards (although some tournaments are free for promotional purposes). Winners receive VRA for winning tournaments. Soon players will also be rewarded VRA for watching ads. Verasity profits from the purchase of game credits, subscriptions, tournament prize pools and ads. This is an entire ecosystem all within Verasity.
See our revenue forecast here:
Tokenomics , Forecast, News Update Adoption and scale are key to the success of Esports Fight Club. We’ve made a lot of progress on the platform and are confident we will continue to see further growth in terms of users and a ton more exposure to the platform, and our token $VRA.Talking about adoption and scale… the next question will answer that!~Q6) What is the current Marketing Strategy? How do we differ from other tournament websites? After creating mass-scale events around the world, we are focusing on adoption and community this year. Spending $10,000 on a big one-time prize pool to attract 1000 teams sounds good in theory. But, after careful planning, forecasting and testing, the results show that the best way is to spread the tournaments out so we reach a larger number of audiences. This consistency and large reach will attract much more than just 1000 teams over a period of time. The best place to do this is by sponsoring streamers and influencers, who each have thousands or even hundreds of thousands of fans.
For the past week, for example, we’ve been running a Valorant Community Tournament with Esports Fight Club’s first partnered streamer,
Mika Daime. The turnout has been massive! Qualifier 1 was filled up with the max slots so quickly, that we had to create a Qualifier 2 just to fit all the teams in.
- Most streamers we aim to partner with can easily bring in 64 or 256 teams to a community tournament hosted by Esports Fight Club, for a fraction of the price
- With the same budget as a big tournament, of the $10,000 we would have spent on a single tournament, we can obtain approximately 540% more users by repurposing that budget for the influencer and streamer tournaments.
For a full list of upcoming features such as the Marketplace and VoD section read our full Marketing and Adoption post:
Marketing, Adoption, Tournaments 2021 (Updated) It’s key for people to understand what we aim to do with the tournaments in terms of marketing. We read a lot of comments about the “low prize pool” when we announced the Mika Daime tournament, hopefully the answer Mark provided sheds light on that!Everything we do at Verasity is calculated. 😊Do check this out if you wanted a full read on our Marketing and Adoption post for 2021. 👍🏼If you think you’re good at some of the games we have available on Esports Fight Club, join in! The partnered streamers we have will be hosting a lot of community tournaments, such as Mika Daime!Q7) How often shall the revenue estimates (status update) be updated and is there any new estimation? We will update the community every six months on revenue forecasts. There are no updates from our last announcement which can be found here
Tokenomics , Forecast, News Update Don’t forget to follow us on Twitter with notifications turned on, so you can get all the updates as they come through!https://twitter.com/verasitytech Q8) Have you changed your business model? Because at the beginning it was mainly about publishers. Our fundamental model has not changed: Video publishers attract audiences to watch video content and ads. Users are rewarded for it, thereby increasing engagement and monetization.
This model has not changed. What has changed is the type of video publisher we are pursuing. Prior to COVID-19, we pursued traditional publishers. With COVID-19, we saw the opportunity to pursue gaming publishers and more specifically esports publishers. More importantly, we created our own tournament platform:
esportsfightclub.com. This allows us to control our own environment, launch our own proprietary video player, own our video content, run ads on our player, and charge subscription fees as well as take tournament fees.
But actually publishers and content are publishers and content whether it’s gaming or news.
It’s great to see how Esports Fight Club will have it’s own video content up on the website so that users will be able to watch the content to earn $VRA by using our own video technology, then use the $VRA to join tournaments, or buy hardware from trusted partners 👀Exciting stuff!Q9) Where can I find info about the Founders token unlock schedule? Tokenomics and Founders token unlock schedule can be found here:
Tokenomics , Forecast, News Update Q10) Does VeraWallet speed handling withdraws scale up painlessly when user amounts boom? And shall there be enhancements to user experience if we for example have tens or hundreds of small reward withdraws daily? We are adding automated withdrawals for small amounts to the roadmap but first have to complete the swap and add the security protocols. We won’t risk our users’ investments.
We simply don't want to risk our secure environment.
Q11) Are there any plans for compounding rewards for the VeraWallet staking? No, absolutely not. The simple interest we are paying now is already high.
Q12) Bit confused about the VeraWallet staking rate after March. Can you clarify? The staking reward rate is 0.1% per day (36.5% per annum) until 31 March 2021 when it becomes 0.07% daily (25.55% pa) until 31 December 2021.
Q13) When can I instant stake with BTC? Good news, BTC is already available in VeraWallet for Instant Stake together with ETH, BNB and USDT.
Try Instant Buy and Stake out for yourself here:
VeraWallet - Official VRA Wallet Instant Buy and Stake has been a really popular update to VeraWallet. Great to see the community loving it. 👍🏼Q14) With the recent developments on Cardano, and the ease in which ERC-20 tokens can migrate to this superior to Ehereum platform, are you considering following suit of great projects like Celsius to move VRA over to Cardano? I know we are still a bit hurt with Binance VRAB. I understand it is not an easy decision. Just interested in what you think about the future on Ethereum. We gave this a lot of thought and investigation and as the community knows we have experience with token migrations :)
Please see our latest update on the VRA token swap to ERC777 and Proof of View:
VRA Token & PoV update As to Cardano — the liquidity is really small compared to ETH alts. For example on Kucoin it’s volume is less than $2m per day. Even on OKEX it’s only $3m. 50% of Celsius’ volume is on Uniswap which is the majority of the liquidity and is not on any Tier 1 exchanges. Aside from the lack of features that we need for PoV, after our last experience, we are very reluctant to join with mainnets that are generally illiquid. Celsius’s solution is to provide the liquidity themselves through Uniswap which is limiting in our view. We believe sticking with Ethereum is the right way to go and the market seems to agree with this as well.
Q15) The new VOD platform, when is it going to be finished and in use? We are working on it now and expect it to meet the roadmap target of Q1: see verasity.io for the roadmap.
Can’t wait for it to be released! 🚀> Yes, this is a huge milestone for us and opens us up to so many possibilities.Q16) Is liquidity mining still in play? Will this replace the staking rewards after December 2021? Good question. Yes, liquidity mining is very much in play and could replace staking after Dec 2021. We have not made that decision yet but will announce as soon as we do.
Q17) Are there new partners/publishers in the trend of gaming for the ad stack? Yes, FB, Google and others. Please see:
Advertiser Partnership Update In total 17, many specializing in gaming.
I don’t think today there are many ad networks that are not into gaming. It's such a huge audience sitting at home during Covid.
Q18) Micro tournaments: could you arrange tournaments yourself, like a national tournament for example? The Esports Fight Club platform is fully self-managed, so yes, you could set up large tournaments and be the admin and sponsor. We would definitely like to see this happen by our community members. This quarter, our admins and developers are focused on A/B testing different tournaments with multiple communities to see if we are missing any critical features demanded by gamers. An article will be coming next week about micro and partnered tournaments. We will explain how these increase platform adoption which benefits both influencers and Esports Fight Club.
If anyone does host some tournaments, message me! I’d be happy to join a few… dust off my skills. I heard Rob (Our Finance Director) was a bit of Counterstrike wizard in his day… 😂Q19) Why are the tokens bought via the instant buy taken from a pool which dilutes the total supply? This is like raising new capital for $VRA at every buy instead of us token holders getting a price increase. These are not purchased from a pool. If you mean that Foundation tokens have been transferred to VeraWallet, see the article:
Tokenomics , Forecast, News Update In the Total VRA Supply, line 9, this VRA is already taken into account as part of both total supply and circulating supply. It does not increase either. I think this is really clear.
Q20) Asking about the “Instant buy and stake feature”. If someone buys $VRA using this system, there is no transaction on the blockchain. You say you buy directly on exchanges but no proof. Buy backs of VRA do not happen instantly and we don’t announce buy backs in advance to avoid speculation. We don’t share our VeraWallet addresses as we have stated before. We are not going to provide speculators with tools to make a margin on each purchase.
Q21) Do we stay on the Ethereum network? Yes, see the article:
VRA Token & PoV update We are swapping our current ERC20 tokens to ERC777 which is essentially an upgrade to a more modern and fuller feature set Ethereum token.
For anyone just joining the chat, make sure you read the article above! Tons of important and exciting information.Q22) From the Foundation wallet tokens have been unlocked in the last 50 days and added to the circulating supply. How is our token deflationary? If you mean that Foundation tokens have been transferred to VeraWallet, see the article:
Tokenomics , Forecast, News Update Foundation tokens are not locked and the article clearly states they are unlocked. In the Total VRA Supply, line 9, this VRA is already taken into account as part of both total supply and circulating supply. It does not increase either. We specifically provide for ALL Foundation tokens, allocated and unallocated, as part of the current circulating supply so this is NOT adding to the circulating supply.
Q23) Asking about adoption figures. You claim to have had 8M people looking at your gaming videos (mostly fakes views as the counter earned millions in hours). The adoption figures were not fake or exaggerated, it is important to understand that this number is a combination of different metrics, all of which ensure one thing: People viewed our live tournament page. This number includes:
- Unique gaming viewers landing on our page to be able to find the stream in their native language (English, Korean, Hindi, Mandarin and Nepali)
- Social media followers and curious gamers who landed on our page after subscribing to our contests, looking for airdrops or just by following our different marketing campaigns. These account for the steady and regular growth of our landing page as we ran these campaigns all-around the globe and 24/7 at the end of the tournament. The livestream was embedded onto the homepage of the website, so everyone who visited our website was also able to watch the tournament
- Lastly, the contestants, productions and influencer’s traffic from sharing our streams was what mostly caused big traffic, especially during the play-off and later stages of the tournament.
Although it was difficult to collate all the viewer statistics we believe them to be accurate and fair.
To see the full statistics of Ultimate Warrior Showdown 1, read here:
Ultimate Warrior Showdown Tournament Round-Up and Adoption Hope that clears up some FUD! 👍🏼Q24) Asking about partnerships. You say you have partnerships with Stripe, Tencent Games, PayPal. The truth is any website can integrate these payment/connexion modules without partnership. You just need to read their website and implement it on your website. Of course, you can add Stripe and PayPal to any website, but try adding them to a crypto-based website and see how far you get. There are no crypto products websites or related services (other than specific financial services) that are supported by Stripe and PayPal because they are not allowed. To obtain these payment services, you need to have special permission and follow a rigid protocol. And Stripe expressed interest in working with Esports Fight Club to reach out to video publishers with EFC to give us access to video publishers worldwide.
As to TencentGames, you need to get their specific permission for certain tournament events and follow their rules. We would be unable to use their logo and name in our marketing material without this. It’s not simply signing up for them. So yes we consider this a partnership because they plan on additional events with us which they now support.
Working with major brands including PUBGM, Tencent, Athena Gaming and Warmania gave us the clout to include major esport teams in our tournaments who will participate in future tournaments as well: FaZe Clan, Orange, T1, Elementrix, Nova, Onic and others. And now because of the history, Blizzard is prepared to provide licenses for all their major games.
We are also in discussion with peripheral manufacturers to support our marketplace launch later this year. As soon as agreements are reached, we will jointly announce sponsored product peripherals that will be rewarded in our tournaments.
Q25) Some things on your roadmap get pushed forward. Why did do you do this? Our development team has been together doing projects for over ten years. This is normal in large scale development projects. For example, we decided after the large Esports Fight Club tournaments we put on that we needed to finalize and launch the Video sharing platform prior to some other features on the roadmap because without it we would not be able to take advantage of many opportunities including monetization opportunities of the exclusive VOD content that only we could re-publish and add ads to. This pushed certain product features into Q2. Another example is PoV. Initially we thought we would go with proprietary blockchain because there was no other solution that would allow us to support PoV. That changed with the release by Ethereum of ERC777. As a result PoV timeline targets changed so that it corresponds to the release of ERC777 as well as the ability to use it for the Video sharing platform. So in effect, the video-sharing platform came in _much earlier than expected_which pushed out other features/products to accommodate this change. Business decisions and external events impact on the roadmap and it would do Verasity and the community an injustice if we just blindly followed a roadmap that becomes slightly outdated every quarter and greatly outdated every year. It is this flexibility that allows Verasity to take advantage of new information and technologies in real-time. And to push out new products earlier in the roadmap such as the video-sharing platform.
Q26) Proof-of-View™️ so nice! When will it be a Patented POV? The average time for a patent to be granted is 3 years. We’ve just started our third year as a pending application so we hope it will be in 2021, however our patent lawyers have told us to expect further delays due to covid. Fortunately this won’t stop the release of Proof of View which can go ahead with ‘patent pending’ protection.
Update: The patent was granted a few minutes after the AMA ended! —
@verasitytech Q27) Will there be an app for download on your phone soon? For Staking. Feeling a little insecure have it online on your website Actually, our mweb and web applications are much more secure than a mobile app. Mobile apps are much easier to hack. Although we have not been hacked, some users have been hacked via their mobile phones but because we have a manual delay, we were able to stop the loss of tokens. The good news is that now with the swap to ERC777 we can disable any wallets that have stolen VRA and return the VRA to the original user. We do have mobile apps on the roadmap but won’t likely support staking because of the security issue and it is not a priority for us.
Q28) Not try to fud here, but would like to get an answer in AMA to suppress all fud in the future 😁 Financial status company. There have been coins sold for listing on an exchange (still to come?). Was this something that was not planned (like extra opportunity to get listed) or are funds becoming empty? Current resources held by Verasity fund the project roadmap for the next 12 months. We forecast reaching profitability in 2021 which will finance the continuing runway thereafter. As you point out not all listing opportunities were included in the forecast and we stated that: “In the future, additional listings and expenses may require sales of VRA from the Foundation Reserve”. See the funding update here:
Tokenomics , Forecast, News Update Q29) The VoD update is a little bit unclear for me. Maybe you can tell some more about it. To the looks of it, it is a mix between YouTube and twitch but with PoV to earn $VRA. PoV on VODs is a key feature for us and for our large ad-stack network. While we are growing our partnerships with community tournaments and adding more games and influencers on EsportsFightClub: we want our reruns to be monetized, available at all times on our proprietary platform and browsing page. Think of it the way Twitch highlights previous streamer’s lives automatically but on a larger and customizable library for viewers to earn VRA and for Verasity to monetize via its ad stack.
And we own several terabytes of gaming and esports video content which will launch with the new video platform in Q1. This is actually massive, because on launch we will have a ton of video content to monetize!
Q30) You seem to have many products but I don’t understand how they work together? - The Esports Fight Club platform — lots of features already available including global and tournament chats, user created tournaments, detailed tournament customization options
- Proprietary video player — in internal beta for launch Q1
- Proprietary ad stack — in internal beta for launch Q1
- Our own esports content — all the content rights from the tournaments and other gaming content owned by EFC &Verasity — this VOD will be monetized on launch of the video platform in Q1
- Our belief that we can drive large streaming numbers via esports tournaments
- Rewarded Video for these users to watch our content and ads on Esports Fight Club and not on YouTube or other platforms by utilizing VRA to engage and monetize
- A large number of ad networksthat include Google AdMob — Signed on
- Proof of View smart contract view verification (on-chain) — now a reality with the swap of ERC777 to fully build out PoV with all its features on the network.
- VeraWallet as a payment system (together with Stripe &PayPal) throughout the Verasity network.
- In Q1’2021, we will put many of these parts together to start scaling our own video player with our ad stack, producing ad revenues in addition to our other revenue streams.
Q31) What games does Esports Fight Club support now? PUBG mobile, Free Fire, Counter-Strike GO, Valorant, PUBG and Ludo is about to be launched.
🚀🚀🚀 Great game selection, so far.Q32) Any near-future plans to expand your marketing? At Verasity, we have a large marketing team that devotes itself behind the scenes to increase our awareness in the cryptocurrency community and reach as many people as possible.
Although we have community groups in more than 10 languages, our local group managers translate all the news, updates into their own languages and publish them in local forums and groups in real time. Thus, we significantly increase our chances of reaching communities that do not speak English. Verasity Spanish, Verasity Korea & Verasity India are already large groups and growing.
We will continue to use media sites, influencers, and all other advertising sources to spread our news in the future as in the past. Gamification marketing opportunities are very important to us as can be seen in LunarCrush.
In return for these efforts, we have gained a great community support that grew slowly but surely. Our marketing efforts will continue to scale. Our goal in this regard is to continue without stopping until every individual in the cryptocurrency community speaks about Verasity.
Our social media metrics have seen a consistent and phenomenal increase over the past year due to our marketing efforts, read here to find out more in detail:
Verasity Social and Adoption Metrics For us the most important metrics to see how we are doing in socials is LunarCrush:
VRA - VERAsity Insights | LunarCRUSH LunarCrush Altrank is the best stats measure of Alts social marketing success out of 2100 popular Alts. We tested many marketing ploys to rank highly. When something works, it’s clear in LunarCrush. Competitions like AltWars simply work. This is the meaning of crypto exposure when the Altrank increases in LunarCrush which measures all social volume, % change per 24 hours, and social score. Even with our volume which only ranks 550 out of 2100 Alts, our Social Volume pushes us in front of much bigger tokens such as OMG, DOT, LINK, CHSB and others. Clearly our marketing is working.
The community support has been phenomenal. It’s been great to see how supportive the Verasians have been. We wouldn’t be anywhere without you guys! So thank you from the team.Especially during the AltWars contest recently… we owned! 👍🏼 Power of the Verasians. 🤝Q33)Have you heard about gaming projects Exeedme and Crowns and how can you compare them to Verasity? We did! Exeedme is an exciting project revolving around gamers personal skill and players betting against themselves (user-centric) that is just at its very inception. They are not competitors as our model (Community, content and tournament centered) has broader purpose and we dont and wont support betting because it will be rejected by many of our partners.
Crowns Token, from Seascape, is a DeFi economy blockchain made for developers building their own online games but who cannot/don’t want to focus on the technical transactional side. Although they are very promising for simple browser and other types of games, they are just not targeting the Esports market and offer, at best, support for upcoming indie-browser games studios.
We would not be able to partner with Exeedme because of betting restrictions but Crowns could be interesting if the games developed are popular with our viewers.
Q34) Are there any plans in the near future (next several months) to list on an exchange that allows full KYC trading for US citizens (e.g. Coinbase, Kraken, Gemini, Binance US, etc.)? This is hard for us. The regulatory environment in the US is not friendly. Since we are not regulated in the US, the risk of listing on a US exchange and the SEC bringing a claim is quite high. At this time we are avoiding this. Lets see what happens with the new SEC Chair who is quite familiar with blockchain. Should he articulate straight forward rules that can be followed and which will not be changed every couple of months, we will consider it then.
Q35) What is: 1. Business structure 2. Marketing plan for next year 3. Customer acquisition costs 4. Execution plan on tech side to deliver Business structure of Verasity:
Development team structure is flat with these functions:
Blockchain developers, Backend developers, highload & security developers, Full stack Developers, web/mobile frontend developers, mobile only devs, Testing & QA, Finance.
For more about the Verasity business model and forecast see:
Tokenomics , Forecast, News Update Marketing plan for next year can be found here:
Marketing, Adoption, Tournaments 2021 (Updated) Customer acquisition costs
We will provide CAC when we are profitable.
Execution plan
See the roadmap on verasity.io
And finally. the last question on the list…🥁🥁🥁🥁🥁🥁Q36) Do you have an update on exchanges? The one that was hinted end of last year and more to come? Very important issue for us and the community. We fully appreciate the necessity for additional volume and liquidity. After the last exchange hack and issues with OKEX, we were thrown off balance but had expected to list on a new exchange by now. Mistakenly we announced prematurely and then ran into the necessity of completing the VRA token swap before we list on a new exchange. Obviously, we want to now avoid having to swap tokens on a new exchange. So right after the majority of the current exchanges we are listed on complete the swap (this month), we will continue with our listing plans. We are well on the way with 2 exchanges but don’t think it’s prudent to provide more information until they announce the listing themselves. The expectation is still for at least one exchange in Q1. Please bear with us on this. We will get there.
Been a great AMA so far. Cleared up a lot of questions and hopefully made you all as excited for the future as we are. Tons of great new updates to Esports Fight Club coming this year and a prosperous year for Verasity is definitely ahead.Thank you Mark!Will be now opening the chat for the Verasians to ask some additional questions.Will be closing the chat shortly after and we can get some more answers out. The gates are opening! 😁 Additional questions Q37) When the Verasity Game Jackpot price will be held again? We are waiting for so long. New jackpots are coming onto the platform but for upcoming games like Ludo which will be announced later this month.
Q38) Is it possible to create something like a create your own tournament where I can play a 1vs1(or 2v2 5vs5) against another player(s) in any game anytime (like in 30 minutes) and where I can set for example a winning price of 100k VRA. and both players have to send 50k before the game to a smart contract and afterward it automatically gets sent to the winner? Esports Fight Club allows users to create their own tournaments choosing from the available games list. We are constantly working on expanding the list of available games and are open for suggestions. The players deposit VRA to the Esports Fight Club account and use these funds to send money to the prize pool. It's quite simple to set up and you can do it for any amount and any number of players and as admin, you have complete control of the size of the pot, how it is shared in % for winners when to start, etc. Its a fully self managed platform that works now. Just go in and set it up today!
Q39) Hi Mark, regarding the plans for in-game advertising and in-game rewards this year, could you describe your vision on this? Is Verasity currently discussing this topic with certain game companies, and how exactly would it work in practice once achieved? Any details you can share with us would be highly appreciated! The way we view in-game ads is our ability to provide our logo or some other image that would be part of the game interface, such as the floor or walls. This already exists and is popular. We are in discussions now with game developers to add Verasity/VRA. This is a high powered marketing tool that will get our name into many gamers’ faces. These are native images in effect. For advertisers that want to use native images inside our broadcasts or VOD, they get stitched into the ad server in parallel to the stream and we get paid for the ad inventory. In-game rewards are still in development but the vision is for users to be able to click on an object in the game and get rewarded for doing so, not dissimilar to clicking on an add and getting a higher CPM.
About Verasity.tv REWARDS BASED PLATFORM FOR ESPORTS, GAMING AND VIDEO ENTERTAINMENT Verasity provides proprietary technology uniquely rewarding gamers, viewers and publishers. Verasity is a crypto-based platform with the VRA token that aims to revolutionise the online advertising business. With its innovative Proof of View system, advertisers are able to guarantee their video ads are seen and not ignored thanks to smart contracts on the Ethereum chain, while viewers are able to earn VRA simply by watching the content they already consume. Verasity has a focus on gaming publishers and esports.
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submitted by Background of Tier2/Tier3 players: College Students/Part timers/Person with day job and plays at night and a some full time tier2 players.
Goal of tier3/tier4 scene: To have multiple daily tournaments in all region that at least give 1200USD prizepool for each tournament. Distributing it to 1st place: 650 USD 2nd place: 350USD 3rd place: 200 this will at least enough to motivate players to win and avoid corruption in betting sites especially those independent teams(those who don't have any sponsors).
The Aim is to have as many tournament possible for lower tier teams and avoid having same timeframe or schedule of tournaments in Tier 1 scene.
Why is tier2/tier3 scene is dying? -- Because no one wants to invest and gain nothing. Dota2 is not widely advertised and there is no organized or proper structure in pro scene.
e.g. Rankings of Tier2 and Tier 3 teams should be separated from Tier 1 Teams.
Valve should also consider limiting the Tier1 teams per TI slot. (Which they just did recently by adding DPC points) I think they better separate the list of top 16 teams as Tier 1 and those ranking 17 and below should be in Tier2 and Tier3 list respectively. So it will be more clarified and teams will battle out their rankings better.
WHO TO BLAME of the dying scene? -- Answer is Valve, if only valve is not so greedy enough to keep all the proceeds in TI yearly to their own pockets maybe they can hire a tournament organizer and coordinate to sponsors on how they can benefit from the dota community. Soliciting is another option from Big Companies
How to sustain a pro scene? - MONEY. You can do everything as long as you have Money.
Where to get money? -- No one is dumb enough to sponsor a tournament without getting a benefit from it.. it is like giving money to other people to watch them... not even very famous people. There are many company that are going to benefit from Dota2 Players. They just don't know it and how to market it. A Dota2 Player can spend 1000USD on his TI compendium yearly.
Example of Prize money Pooling(OLD) ? - COMPENDIUM/BATTLE PASS 25% of proceeds will go to the prizepool - StarLadder League Set
New Idea of Prize Money Pooling - Sponsors customized cosmetics.
eg. Red Bull Set by Red Bull Company. Hero: Elder Titan. __% of the proceeds added to the prizepool
Ramen Chef Set by Nissin Noodles Hero: Pudge Dota2 in game ADS(Advertisement): List of APPS that will benefit. Facebook/Discord/TwitteRaidcall or App Linking. In game advertisement of products. (Food/Coffee/Drinks/Apps)
Valve has so much money, they don't need put sponsors in-game just to solicit prizepool. - Sadly, for 10 years tier2/tier3 scene is not even stable. Valve is not even investing effort in it. No notable improvements or success as of now.
How to get money? -- Sponsors, Companies that are somewhat link or has relativity in the gaming scene.
If you think gaming products or computer products are the most reliable? I think not because it is not price friendly... that is why most of the sponsors in lower tier tournament of gaming dies.
If you ask me what tournaments in low tier scene is making it alive?
-- Raidcall League, Red Bull League, Gosu League, Nvidia League, Faceit Pro League.
Note: if you notice, this league earns from advertisement and only provide service. exemptions to RedBull and Nvidia but you can see why these two is sustaining it... Redbull is a price-friendly drink.. everyone can buy it even kids... and Nvidia we all know you can't play a graphic heavy game without Nvidia so its a mandatory.
Potential Company Prospects Tournament Sponsors list:
- Discord - Most of the dota2 players right now who play as a 5 man team uses discord as their alternative in-game communication rather than the built-in dota2. Discord is way more convenient and better user-interface purely for communicating. How will Discord Benefit?
- If 100% of the players in party uses discord, the company will earn more than they will sponsor the tournament.
Facebook
Twitter
Nissin Noodles or other instant food (many gamers eat this as staple food for gaming)
KFC LEAGUE (Available in SEA ONLY!)
Grab (Sponsored recently in Philippines)
COFFEE COMPANIES ( DON'T ASK ME WHY, WHO DOESN'T LIKE COFFEE?)
Drinks/Juices/Soda
Twitch/Streaming Sites
- Youtube
I know it and I can forsee it... if DOTA2 is commercialized... it will become very popular again.
I believe in Dota2's gameplay... it is the most fun game for me been playing for 6 years with 6kmatches... took a break for few months and then went back playing again and stopped again for 1 year and then went back and playing again. In my opinion, Dota2's gameplay is more advanced and fun than the all other MOBA available right now in the market. I believe the game lacks publicity but the platform is already there.
submitted by These does not guarantee huge amounts of money but surely helps when you’re looking for extra cash. These are based on the article from The Ways To Wealth. comment(s) for this post "Top Legitimate Money Making Apps In 2019". Working as an online freelancer may help you earn the extra money you need so you can save up for your dream home. Indeed, more Filipinos are venturing into freelancing because it offers more opportunities to earn. The best thing about it is that they don’t need to put up with the harrowing commute, overbearing bosses, and other unfortunate mishaps on the road. There are a number of trivia apps you can try, including: Swagbucks Live – A live trivia game show run by Swagbucks, a massive paid survey website. Dabbl – Lets you answer surveys, play trivia games, and watch videos to earn free gift cards. Givling – Potentially pay off your student loan debt just by playing trivia games. You can earn money by referring friends, earning coupons, and getting cash back from everyday purchases. Rakuten can be an easy way to generate a bit of passive income. Join Rakuten . Earny. Earny is another excellent app to use while going about your regular purchasing. You'll get paid if something you buy goes on sale. The downside to the app is that you do have to pay 2$ a month to use If you have a smartphone, we have some great tips for you to take advantage of some of the best apps to make money in 2020 that can get you started! This list contains apps that pay you money, help you save, and even invest for you. The research has been done for you, the only thing left for you to do is decide which of the 16 choices will work for you. The apps listed have a 4 out of 5-star But I recently discovered that you can also make your smart phone work harder for you. Use that gadget that may have cost you an arm and a leg to earn you some extra cash, by simply downloading a few choice apps that can give you more bang for the buck. It goes without saying that the rule here is to still only buy or pay for what you really So, if you’re interested in trying them, here’s a list of 13 popular money making apps you can install right now. 13 Apps To Make Money Fast 1. Swagbucks. Swagbucks is a reward program site paying its members for doing simple activities. These activities include watching videos, taking surveys, shopping online, web searching, etc. For doing each activity, you’ll receive Swagbucks coins The Rakuten shopping app (formerly Ebates) is a well-established leader in money saving apps–the company’s been paying users back for over 20 years! The app offers cash back, in-store cash back, and a cash back button extension for online shopping. Shop almost every retailer on the planet and earn up to 40% cash back. How data entry works. Copy typing or data entry jobs are among the easiest ways to earn money online for Filipinos. Data entry doesn’t require much knowledge, skills, and equipment. You just need a computer with Internet access and the ability to type quickly to provide online typing services. These mobile apps are some of the legitimate free apps that you can download and use to earn extra money. Although the pay is not that big, it still is one of the best activities you can do to make the most of your spare time.
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