Altcoin Alerts x YGG SEA AMA Recap
Altcoin Alerts Community had an Ask Me Anything session with Evan (CEO & Co-founder) and Rin (Co-founder & Country Manager) from YGG SEA on 3rd Jan 2022
Segment 1: YGG SEA Introduction & Q/A with Altcoin Alerts Team
Altcoin Alerts: Hello Rin
Altcoin Alerts: We welcome you to Altcoin Alerts Community
Rin: Hello everyone 😊 how is it going?
Happy New Yearrrrr
Altcoin Alerts: We are glad to have you both
Rin: Likewise, truly happy to be here. Thank you for having us
Altcoin Alerts: Happy new year guys
Evan: Happy to be year. First AMA of the new year. haha
Altcoin Alerts: How are you guys doing?
Hope you’ve great start with this new year
Evan: Feeling great. 2022 is going to be an amazing year
Altcoin Alerts: Definitely
Let us start with introduction.
Can you please introduce yourself & your journey in the cryptocurrency field?
Evan: Hi I’m Evan. I’m the CEO and co-founder of YGG SEA. Originally from the US, but my career in Asia spans more than 20 years across executive positions within Unity Technologies, Electronic Arts and PopCap Games. I’m widely known within Asia for time at Unity Technologies, where I established and led Unity Technologies SEA region to become Unity’s fastest growing community.
Altcoin Alerts: Interesting
Rin: whoa… evan type fast! hang on a sec guys
Altcoin Alerts: lol
Rin: Hi! I am Rin — co-founder and country manager for YGG SEA in Indonesia. I started my career in corporate finance / banking before i decided that i needed to jump over to a more exciting life! Hence, i started a gaming VC fund >5 years ago but been a gamer almost all my life.
Altcoin Alerts: That’s great!
Now, please introduce YGG SEA as well.
Rin: YGG SEA is the first subDAO of Yuild Guild Game (YGG). Our focus is on the South East Asia (SEA) community of gamers, studios, and governments to ensure that we are building the most sustainable and lucrative play to earn gaming ecosystem in the region.
Evan: YGG SEA is the first subdao of YGG (Yield Guild Games). Originally YGG started in the Philippines during the covid crisis as a means for the people to generate some type of income while unable to perform their normal jobs. It was so successful and demand was so high, YGG decided to launch YGG SEA.
Altcoin Alerts: Sounds unique
Can we know how YGG SEA is different from YGG (Yield Guild Games)?
Evan: sure, i can take that one.
Although I would love to take credit for the establishment of the subDAO model, it wasn’t my idea. If everyone wants to know where it came from, they can read the original white paper of YGG. The subDAO model was part of the original global expansion plans, all that we are doing is executing that model.
Other than it being part of the original plans, there are numerous benefits of having localized operations. The true benefit of the subDao is providing country focused teams the ability to rapidly expand across their territory by leveraging their local knowledge and networks.
Irene is a great example of that. We reinforce this autonomy by have trusted co-founders in each of our offices. They are responsible for empowering their teams and addressing the concerns of the local community.
Also from a technical perspective, YGG Main focuses on building out the backend technology allowing YGG SEA to focus on the onboarding of the local community. So essentially YGG SEA is a localized economy that is a part of the wider YGG economy. In this model as the subDAO grows, so does YGG main. We couldn’t be more pleased on how investors and the community have supported this growth.
Altcoin Alerts: Recently YGG SEA raised $15 Million from Animoca Brands, Bukalapak and more. Please tell us more about that.
Evan: We recently announced the raising of a total of 15M USD during the last private rounds. YGG and Infinity Ventures provided 2M in seed funding to start to build out the core teams and technology. The last 15M round was led by Jump Capital, Animoca Brands, Crypto.com Capital, BRI Ventures Fund, Bukalapak and Poloniex. These firms were joined by Digital Currency Group, Circle, Hashed, Arca, Evernew, 7x, DNC, Longhashed, OKEx Blockdream Ventures, Morningstar, Polygon, Petrock, Hashkey, sweeperdao, and Dialectic.
Fortunately we have established trust not only in the crypto space but banking space as well. BRI ventures is the 2nd largest bank in Indonesia and 80% owned by the Indonesian Government. This is their first crypto investment ever. Also we are supported by UOB Bank, which has the largest branch network in SEA with over 500 branches.
The new funding will allow us to build a scalable scholarship onboarding system, localized guild communities and further build out the teams throughout SEA.
Altcoin Alerts: Amazing!
For everyone who is now interested in investing in YGG SEA, please share details like Token sale/IDO, Tokenomics, Partners and more.
Evan: More information will be released regarding the launch in the days to come, but happy to share what we can.
We believe at its core, the YGG SEA token represents economic freedom through the metaverse. And I hope that today’s audience seizes that opportunity to have a voice in the Metaverse. I know many felt that they weren’t fast enough obtaining the YGG Coin offering, and now they have their second chance. We will be offering the coin through copper launch as we believe it’s the best means of having a fair launch and distribution.
But what we are trying to achieve is a fully decentralized subDAO that is fully operated by the community.
We will be releasing the details of these the benefits, reward tiers and timelines shortly to the community. But overall, what the token holders can expect is that after you have received your token, you will have the opportunity to stake and lock them for substantial rewards. Some of those rewards will be exclusive token and NFT reward airdrops, access to unique player assets and benefits, exclusive merchandise & perks from local SubDAO partners, early access to new game titles and assets.
Rin: We recently made an announcement on our upcoming IDO/token sale. The launch will be done in Copper Launch platform. This will be a great opportunity for community members to be a part of YGG SEA and YGG Ecosystem.
Other than being a part of the YGG ecosystem, it is a perfect for anyone who would like to enter into the play to earn space but are overwhelmed with the number of P2E out there and also for those who wanna diversity their portfolio into the SEA region.
In summary, YGG SEA operations are a reflection of:
- NFT asset and treasury management — Through our relationship with YGG, YGG SEA has the widest network of P2E games that our Southeast Asia community wants to play. We have access to the best assets for the most in-demand games that our players want or will want once they learn about them.
- Incubation and investment — Unlocking new narratives for gamers in Southeast Asia to explore through local mythologies and folklore by investing in regionally developed and titles in regional languages, such as Tagalog, Thai, and Indonesian.
- Diversification of opportunities — YGG SEA has already secured prime stakes in a catalog of new P2E titles that will appear to all gamer types, so we can support the largest and most inclusive group of games across the region.
- Onboarding — By localizing team support for each country, YGG SEA is able to help onboard more players around the world of crypto finance — acknowledging local language, local culture and physical closeness through our in ground presence.
- Creditworthiness & Mobility — YGG SEA will focus on how it can better represent the needs of the community through local partnerships so online efforts and reputations can form part of their real world financial stability and mobility.
phew.. that was a long one
sorry took me quite some time to type 😄
Altcoin Alerts: no problem
Segment 2: Twitter Questions
Q1. I read YGG SEA is the FIRST SubDAO of YGG (Yuild Guild Game). Do the token holders have right to participate in the governance of the project?On what kind of decisions can they vote on about the project? Do you have any plan to create other features like yield farm, stake or NFT?
Evan: I’ll take this one if you don’t mind Irene
Rin: go ahead Evan 😊
Evan: YGG SEA will release a total of 1 billion SEA tokens, which are set to be governance tokens for YGG SEA. These tokens will be used to govern the YGG SEA’s future direction and ensure holders of access to activities and benefits of the guild.
As you can see from our token distribution, only 7.5% of the tokens will be sold in the open market. While 25% will be distributed to the community over time as rewards for active participation in the guild and the community.
In terms of staking 10% of the total SEA token allocation will be to support yield farming in the first five years of operation. This initiative will start with those that buy SEA tokens via Copper and stake those tokens for 52 weeks within 24 hours after the launch ends. Users who commit to 52 weeks of staking will be eligible to share 10 million SEA tokens in addition to normal staking rewards.
Q2. At the previous AMA you said that YGGSEA’s long term goal of taking no revenue split from the players. Tell more about it.
Evan: Great question. Let me answer it.
We always want to give as much back to our scholars as possible, that is why we are the leading guild in the world. At our core, we have created YGG SEA to build out the metaverse and insure that SEA players are not left out. As YGG SEA’s metaverse across Southeast Asia grows, its value will grow as well. This includes leveraging our treasury to invest in earlier rounds for tokens and NFTs of international and local game titles.
Right now YGG SEA is the one purchasing those NFTs through support of our investors and scholars. Through NFT utilization and growth, YGG SEA will experience an increase in token and NFT appreciation. This should naturally allow sustainable growth of the ecosystem and allow YGG SEA to truly not take any revenue from its scholars.
YGG SEA’s scholars support and commitment to YGG SEA should be enough for us to step away. We believe much of this can be achieved in the next 5 years.
Q3. Visiting the website the caption “MINT YOUR BADGE” caught my attention? Learnt it was launched during Sipher AMA, can you briefly explain the process to mint and verify these badges? What utilities are attached to the ownership of the badges?
Evan: Irene must be bored. Go for it Irene.
If she didn’t fall asleep waiting for me to answer
Altcoin Alerts: Rin are you there?
Rin: on it
typing FRANTICALLY Here hahahaha
First thing first… i must show those who hasn’t seen the badge on how it looks like
Altcoin Alerts: sharp look
Rin: Other than being a good looking badge, the YGG SEA Badge serves like a passport into the YGG SEA metaverse. It is non transferable and one wallet can only have 1 badge. There are tonnes of utilities attached to the badge other than just a badge or identity that is to be revealed in due course (but I would drop some alphas in a bit). First thing first is how you can get it.
To mint the badges,
- Head to https://yggsea.io
- Connect your wallet to the site (prior to connecting, please set your wallet to MATIC network — read: no worries about gas)
- Click Mint Badge
- As usual, your metamask will pop up asking you to approve the transaction
- Once approved and transaction completed, You can then head to opensea to check out the badge
- I would urge everyone to head to our discord channel https://discord.gg/ZjF7473Nqb and verify your badge there
Now, the question on utility. I am just gonna “leak” a few here:
- 💸 Potential to earn $SEA Tokens
- Earn YGGSEA Swag
- 🎮 Attend in game events
- 🛳 Passport to offline events (tournaments, talks, parties)
- 🧪 BETA Test Priority
- Access to YGGSEA Scholarships (We are the only guild who have rolled out 3 games to our scholars and another a few more in the pipeline in Q1 2022)
- Special Recognition in Discord Server
Altcoin Alerts: This badge thing is really exciting
Rin: It is indeed! and we are so very happy with the enthusiasm of the community
Altcoin Alerts: Good to know
Rin: We launched it i think around 1 month or less? and as of now, there are more than 165K badge holders (or passport holders!)
so definitely excited 😊
Altcoin Alerts: That’s insane
Evan: We’re really happy with the response from the community. We’ve already had over 165k people mint the badge. For us, this shows the overwhelming support that we have from our community. Our vision for YGG SEA, the amazing local teams we have built and most of all our community will be supporting this project’s growth for years to come. Thank you.
From all of us at YGG SEA, THANK YOU for your support.
Rin: That’s the power of the community and we are truly truly blessed to have such a supportive community
Segment 3: YGG SEA Q/A with Community
Q1. What various Types of Incentives users will get so that they get motivated towards playing the game?
Evan: Actually game developers are coming out with many various features to get players in. What you will see is games offering players the ability for them to rent out their own NFTs to generate revenue without even playing. Staking and locking. So you will have multiple levels of staking and locking. As a guild we are even offering scholars the ability to leverage offerings from local partnerships. Providing health insurance and others benefits are not far away.
Q2. YGG SEA has partnered with universities and governments in Southeast Asia, but Southeast Asia has a variety of cultures and languages. So how do you educate students and the local community about the YGG SEA platform? How about multilingual support?
Rin: Well researched! Thank you. Let me answer this in line since there are a few similar questions on this topic.
YGG & YGG SEA — in the way we operated, we have always have inclusivity in mind. We lower the barrier to entry for P2E gamers — making it accessible for everyone (regardless of their financial background). EVERYONE can enter the YGG SEA metaverse and play to earn money.
In Indonesia for example, majority of the population (280mn people) do not speak english! So to include them into the P2E space, we have in country operation to translate everything to bahasa. Same with other countries where we have presence in.
Separately, we also form partnerships with various parties like
- University (as you know) to help them understand that game and education can co-exist. and with YGG SEA, we are giving students the option to pay their tuition from earnings through playinG! One of the local univ even called our scholarship Academic scholarship!
- Government to help them understand what P2E and crypto is
- and many more!
Q3. Which countries you are focusing in South East Asia?
Evan: We currently have offices and local support teams in Thailand, Indonesia, Singapore, Philippines, Malaysia. Our next office will be in Vietnam.
Q4. How can I join the pre-sale or IDO? What is estimated date Where can I buy your Tokens ?
Rin: Please do stay tune on our medium, discord, telegram, twitter!!! We would be announcing a date VERY SOON! and you can buy the token from Copper Launch.
Q5. My question is about your long term marketing plan. How, or through which major partnerships do you plan to use to spread your product to normal people -especially non-crypto? What is YGGSea’s most ambitious goal? What is YGGSea’s main vision?
Evan: The metaverse wasn’t created for avatars to talk to each other. I believe the metaverse is here to provide ownership to the people and create social change. One of the biggest social movements we believe YGG SEA can achieve is to erase unemployment and increase the amount of students attending school. We are working with governments and schools to achieve this. Our scholars are paying for their tuition through their earnings from the guild. This is already happening. The next step will be unemployment.
Q6. I read that players who are part of YGG SEA’s network will have the chance to participate in tournaments organized by Thetan Arena. What kind of tournament will it be and will there be age limits? When will it start and how can we be part of it?
Rin: There are a few tournaments lined up for our scholars and most of these tournaments are held by our community. In 2021, we did one public event in Thailand, one public event in Indonesia and one closed competition for our scholar group. In 2022, there will be more!
Plus, like i mentioned earlier, we have rolled out 3 games and wouldbe rolling out more as early as January 2022!!! so def an exciting time 😊
Q7. You mentioned that YGG SEA aims to target other underserved Southeast Asian markets. Do you have a local community for them to better understand your project? Like communities in Indonesia, Vietnam or other Southeast Asian countries? Then What are plans in for global expansion?
Evan: Absolutely. Our discord is completely localized with local support. You can start there.
Q8. Will you Invest only in NFT Gaming projects? What if through DAO community chooses a non gaming project? Will you Invest in it? Or you are strictly into Gaming projects?
Evan: We will invest in anything that will benefit our scholars and increase their income.
Q9. Can you tell us why YGG is focusing on Indonesia, Singapore, Vietnam before expanding throughout South Asia, Do you think they have greater potential?
Evan: These are the countries that have the largest immediate potential. Our aim is to have local support in all SEA countries. Globally, if you look at the number of metamask accounts, 4 of the top 10 are in SEA. #1 philippines, #3 vietnam, #9 indonesia, #10 Thailand. So we needed first and foremost for a demand to be there. Then it came down to finding co-founders that have the understanding of the local community and strong business ties to help the community grow.
Q10. In this Gaming market, Why do You think Play to earn games have more importance than anyone else before?
Evan: It’s about the ability to have control over your own destiny. Many of these scholars would never have this kind of earning potential. But now their purchasing power has turned into playing power. Now all gamers are equal with the guild’s support.