Judy_Host of EncryptClub: Unexpectedly, BTC doesn’t fall and goes back to above the 25-day moving average after rising for consecutive days since the Back Swan incident on last Thursday. Although it doesn’t show a sign of powerful breakthrough, it stands firmly at $55,000. The new market direction won’t clearly emerge until mid-April, let’s take the change to pocket a lot then.
Today, we will have AMA with Rage.fan — an NFT project which can’t be let go especially during the current NFT boom. As a platform that integrates online games, NFT and decentralized governance, Rage.Fan is consistent with the current value recognition system of the crypto space, and enjoys a high degree of platform freedom. We are honored to have Vivek Kumar, the marketing head of Rage.fan to share with us the opportunities Rage.fan brings to us.
Welcome to EncryptClub, Vivek. Could you please introduce yourself to the audience?
Vivek: My name is Vivek Kumar and I am part of the Co-founding team cum Marketing Head at Rage.Fan. I have done Masters in Business Administration. Before Rage.Fan, I worked for 7 years across Strategy & Consulting, CXO Advisory, Marketing, and Program Management at different capacities. I have worked with large MNCs, Consulting firms and early-stage growth start-ups.
Q1: Could you tell us What Rage.Fan project is?
Vivek: In layman’s term, you can think of Rage.Fan as a complete sports ecosystem:
- It has got platform where you can play fantasy sports and quizzing
- Then it has got sports utility NFTs (uNFTs) — You can collect them and trade them over a marketplace. The uniqueness and rarity (due to limited supply) of these cards makes them very very special
- We are also building sports data oracle — first of its kind and for that we have partnered with Kylin Network also
- Lastly, we have got something called Augmented Reality (AR) Token Mining method, a concept something inspired by Pokemon Go
To make all this happen, we have something called $RAGE, a native token which comes with the dual purpose of “game play” and “governance”. The entire Rage.Fan is built on blockchain.
Q2: Why Rage.Fan choose to use blockchain technology to address the unfair phenomenon in fantasy sports, such as lack of transparency, injustice, and hidden charges? Could you briefly advise how Rage.Fan will address these issues?
Vivek: Because if you see these are the core issues prevailing today in fantasy sports. It’s like everyone knows about it but no one wants to address. Other perspective could be that there doesn’t exist any potential solution to it till we attempted it.
Blockchain at a technology level facilitates provision for transparency and decentralization. Second aspect is cost. So, mainstream fantasy sports platform charges huge fee and there are several hidden charges also. So, those will be eliminated here and as a result users will get a huge reward payout ratio.
Q3: What is the size of the fantasy sports & online sports games derivatives market ? How can users participate in Rage.Fan and how will Rage.Fan implement autonomous governance?
Vivek: So, there are a lot of aspects to it and it’s not direct market sizing type estimation. According to different sources, Fantasy Sports market size stands at somewhere $20 B+. Similarly, Prediction Market is around $250 B+. We are into NFTs also, so that stands at around $370 B+.
Participating in Rage.Fan is very simple. All you need is a phone + internet connection + Rage.Fan app. After that just create account, pick a sport, create your team and join a contest. You can also participate in quizzing.
DAO as you call it comes with $RAGE utility and blockchain implementation. All the codes, team details, team formation, prize distribution and whatever you can think of will be available for all to see it in a decentralized way. In addition to that governance aspect talks about community level decision making where in people can propose changes, vote, and voice their opinion.
Q4: What functionalities will Rage.Fan provide? Besides the traditional platform function, has you considered adding yield farming to increase the utility rate of idle assets?
Vivek: So, $RAGE serves dual core purpose of gameplay and governance. Game play is simple — come and play using $RAGE. Governance talks about community level decision making/influence through accumulation of $RAGE
Now apart from all this, $RAGE also comes with several other value-added utilities. These utilities pre-dominantly talks about incentivizing users. These includes Staking, Game Mining, Social Media Mining, Referral, Yield Farming, etc.
In addition to these, as time goes, we will try to come up with more such value-added utilities depending upon the user needs.
Q5: The threshold to blockchain projects is relatively high for many people, how will Rage.Fan lower the threshold and get more people involved in games?
The answer combines several elements which includes but not limited to product simplification, value-add, constant innovation, understanding user needs and pain points, and being relevant. Then combining all these to deliver simplified seamless user experience. Bottomline is, until a user feels rewarded, valued, and there is sustainable significant value-adds to take away, it’s very hard to retain them.
So essentially, we are working on these elements. Our feature portfolio combines all these. In nutshell, we are trying to offer an entire ecosystem such that everything is available at just one single place.
Here comes the free QA session.
User: How to participate in your token sales?
Vivek: IDO is open now at Poolz and ZeroSwap:
Judy_Host of EncryptClub: Thank Vivek for joining our AMA and sharing so much valuable information with us. Thank you all for watching this AMA. EncryptClub will work hard and bring more wonderful content for you in future.