The Core Team
answered you in AMA!
The Core Team
answered you in AMA!
March 7, 2023
The audience is very interested in the Retaverse ecosystem. The questions from the commanders to participate in the Community AMA were extremely serious, and it was sometimes enough to inspire us. We will now introduce the answers to the questions that the commanders have forwarded to us for Community AMA, as stated in the last Announcement.
In the midst of hundreds of questions, we drew as many questions as possible that could help commanders, and decided to answer them in detail. Of course, all the answers were officially written by Realital core team. We believe that commanders will have more faith in the positive future of the Retaverse ecosystem through this AMA!
We have received so many questions from commanders at this AMA. They mostly sent us questions of common interest. We have incorporated similar or overlapping questions among the commanders’ many questions.
I think there’s no one who’s minting NFT right now, or very few are mining NFT. Also, when all aspects of the game are revealed, what are the future plans?
Currently, there are no additional promotion plans for NFT Minting. It is also true that the minting rate is low because the user pool has not been secured as much as we planned. But we think that Reta Wars is still in its infancy, and the project is in its early stages. Compared to the completion stage of Retaverse, Reta Wars is still only a small part. So we’re not going to put aggressive marketing at the forefront like any other project yet.
What we need to do at this stage is to secure credibility by proving the project to the public with sustainability and development capabilities, rather than spending too much marketing cost for early-stage minting.
What are the team’s short-term goals and long-term goals? I think Reta Wars goes well with RTS genre, is there any possibility of developing into this type of P2E?
Our short-term goal is to update our plan at Reta Wars and make Reta Wars more attractive Game-Fi. While changes in markets and trends that we didn’t anticipate are having a lot of impact, the constant and rapid updates of Reta Wars continue to be maintained.
Of course, our long-term goal is a Retaverse. It will be a platform equipped with Game-Fi products developed by other projects as well as games that we make ourselves. Of course, all Game-Fi products will use only one governance token.
The idea of RTS is fascinating. Team members also love games and have played various Web2 and Web3 games, so there is a game idea that they want to implement on Retaverse. RTS is one of the genres we want to try.
While many P2E projects are being unveiled, one of the perceptions players have about the P2E market is that it benefits only early holders. This perception is becoming a big hurdle for latecomers to approach the game. How will the team overcome this and present a long-term vision to the users?
The Core team also played many Web3 games before starting the project. Sometimes we’ve suffered a lot, too, and we’ve experienced a lugpool. So we spent a lot of time preparing a solution to your question at the beginning of the project. It means sustainability and entry hurdles.
Many People still have doubts about the structure and nature of Web3 games, and there has never been a perfect alternative to them. Because only time proves it. If it survives, it can be an alternative to market doubt.
We are also trying to create a sustainable ecosystem. But if it doesn’t want to end up as a mere catchphrase, it has to prove it by showing the public that the actual project is maintained. The team is preparing a lot to prove it.
The key factor that makes this proof possible is the team’s own development capabilities. We created all the contracts, games, and marketplaces ourselves without anyone’s help. In addition, new updates, and rapid response to external hacking attacks, are important criteria for evaluating the team’s development capabilities, and we are doing our best to prove it.
These tasks will finally have amazing and wonderful results. We’re calling the result “Retaverse.” And whenever a new title is on-boarded on this platform, it will be possible to increase the number of holders and interest of users.
What is the progress of Retaverse’s next project?
Our next project, RetaGram, is currently in the early stages of design, and we’re working on an asset and a resource. However, we cannot proceed with the development of both projects simultaneously at the current team size. Therefore, we are preparing to hire for the development of RetaGram while focusing on updating Reta Wars.
Currently, we are focusing on further updates to Reta Wars. Our first task is to implement the roadmap and complete Reta Wars with more interesting Game-Fi, and that is what we must do to keep Holder’s faith.
1. What is the team’s survival strategy amid the rapid changes in the global economy?
2. When is the runway expected by the team?
3. What is your team’s funding plan?
4. I want to know the expansion strategy of the service and the new roadmap plan.
1. As many people already knew, the crypto market is frozen with the macroeconomy. In fact, our team is also affected. But at the end of the day, when spring comes, we know that the surviving project will finally be in the spotlight. Our survival strategy is simple. It’s not just about doing anything to survive, it’s about gaining the trust of the holder by continuing to prove the soundness and sustainability of our project.
2. As you know, we are developing everything ourselves without any outsourcing. More than 15 developers are participating in the project as part of the RETA Team. This brings us fast and cool updates, but at the same time, it also means a high cost to keep the team. In fact, we’ve seen many other projects around us disappear from the last FTX incident to the recent market, and we’ve also had a lot of difficulties. Fortunately, we are continuing our partnership communication that is friendly to the team, and we expect it to greatly help us create a new title.
3. Funding plans change flexibly depending on market conditions. The pace of change in the web3 market is faster than we all expected, and the macroeconomy is always threatening us all. But our goal remains unchanged, and that is only to lead the RETA project to goal point. So we’re preparing various options for funding, for holders and projects.
4. We are preparing a new White Paper and Platform Roadmap of Retaverse. You’ll see it soon.
What does the team prepare for CEX Listing? Is there also an attractive partnership preparation?
In fact, we were already conducting a positive review with one of the CEXs in the winter of 2022. But, as many people know, there were a few bombs in this market, such as the FTX crisis, which led us to put more emphasis on safety.
To keep Holder’s assets safe, listing on a trusted exchange is one of our most important goals. Of course, we are not neglecting our preparations for listing on CEX.
In the case of the partnership, we have met a variety of people since last October while running the RETA ecosystem, and we are reviewing good suggestions. We hope to release good news soon.
Has the plan for using BUSD paid for NFT Minting been disclosed?
Please tell us how your team makes a profit and how you make a profit on ecosystem fees.
The BUSD sales that have occurred so far have been used as operating expenses to keep the project going, including team salaries and office rent. That’s because we’ve never sold RETA to the market.
In general, some projects make a profit by selling governance tokens earned from marketplace fees to the market. However, as revealed through all of our contracts, the team has never sold commission revenue to the market. It will negatively affect the current price of RETA, and it is also because the price of RETA is different from our target level.
Since RETA is still in its early stages, we have established some policies to protect the holder. The other policy is staking. In Tokenomics, the 10% RETA owned by the company is written to generate revenue through staking, but we haven’t actually deposited it in the staking pool yet.
Because the RETA staking pool is still in its early stages, staking the company’s own RETA can weaken the profits of other holders.
As a result, what we all need to remember is that the team, like all other holders, values RETA, and we have never made a profit by selling it. This is the same for private sale investors. They have traded some NFTs to play the game, but RETA, allocated as a private sale, has never been distributed to the market yet. Because they are also convinced of the future of RETA.
If we distribute ecosystem fee revenue to the market, it will be after RETA has grown enough. Also, when it is realized, you will of course be able to check our sales schedule and volume in advance through pre-announcement.
How does Reta Wars’ NFT work with new projects like RetaGram? And, what is the alternative to the continued decline in RETA and GRT?
The NFT that players used in Reta Wars will still be used in RetaGram. If another title is released, it will be the same. However, it is probably difficult for NFT to be used in two games at the same time. In general, the NFT must be in the game contract to play the game, and each Game-Fi has a different contract to play it.
We still think that our project and RETA are in the early stages. We are also aware of the price of these two tokens and are preparing further updates to address the structural problems of GRT to preserve the asset value of the holder.
That’s not all. When the new title, RetaGram, is released, it will make a very significant change for RETA and GRT. All of our Game-Fi in the platform have complementary connected tokenomics. You’ll soon be able to see platform tokenomics with two or more Game-Fi sophisticated connections.
I think the team had a promotion with other guilds in Fast Mode, but the effect was not good enough. I think you guys limited the marketing target to Korea.
Another question is about junior NFTs. What is the team’s response to the drop in the price of the hero NFT with the release of Junior? Also, many people prefer NFTs with good stats. Is there a review of a device that can reset the stats of the NFT?
We have contacted many communities in various Asian countries as we opened Fast Mode, the platform’s first free-to-play. In fact, the first Fast Mode recorded nearly 1,000 DAUs. Of course, we didn’t get positive results from all the communities we contacted. Most important thing is, try quickly, check the results, and then pull out the next card. We will continue to try various things.
We agree with you on the junior NFT. However, we needed to lower the hurdle of the game to secure new users in a rapidly frozen market. It can lower the value of the hero NFT in the short term, but in the long term, when a large number of players are secured, all the NFT’s value will eventually find its place.
Your idea of how to reset the NFT’s stats is very interesting, but we think it will require a lot of review. The most difficult point of the web3 game is to simulate it in advance, and we will carefully review the impact of your proposal on the market.
This is the most important question. We think it’s time for a RETA rally.
What is the team preparing to increase the value of RETA?
Do you have a plan to prevent cherry pickers and provide benefits to game rankers?
As many people know, RETA reward release is decreasing little by little. In other words, the opportunity to increase the RETA value as the project grows is very large. However, we agree that there is a need for a significant change in the RETA price at the moment as you asked.
Here are some of our efforts to make RETA more valuable.
Our biggest effort, of course, is steady and fast development. Many Web3 projects fail to release a completed product, or disappear within a few months of launch. We will definitely keep our philosophy and run this project, and we will get recognition from the market.
Of course, trust alone is not enough now. We are preparing many other things to turn that belief into conviction. We are continuing a lot of communication and meetings to introduce some “good news” to the holders, and it will be very big news that is different from before. We won’t need that much time until we introduce this news.
The most important thing is the platform. When more information about Retaverse is introduced this year, more members of the public will now understand why RETA should be held.
4. New Roadmap and White Paper
A new white paper will be released soon. Of course it will be a white paper on Retaverse, not Reta Wars. Of course, it takes a lot of time to complete this. Therefore, we will release part of the IR pitch deck, which includes our main roadmap and goals for the holder.
2023 will be a very important and monumental year for RETA and Retaverse.
How do you plan to encourage users to participate in RETA staking?
We are working in many areas to provide new benefits to RETA staking holders. One example is the recently updated attendance system. This is not all, of course, and we will find a way to add benefits to the staking holder in other updates that will be added in the future.
In the longer term, whenever a new title is added to Retaverse, a new reward pool will be formed for the RETA staking holder. RETA will benefit from all Game-Fi products in this ecosystem to make it a platform governance token.
With the recent battle results of Reta War leaning to one side, weak faction players are reluctant to support resources. What is your team’s plan to address this issue?
There will be a significant increase in the rewards players will receive from participating in the war. We think it makes sense for players to get a bigger reward when they use their resources for their faction than when they sell them to the market.
Are there any plans for other new game modes to be released in Reta Wars?
Currently, we are not planning a new game mode other than Fast Mode. However, we are preparing content for players in different ways. In addition to producing resources and supporting the war, various consumption options for RETA and GRT will be added.
Has the game completed audit? I didn’t hear about that.
What all investors want is the security of the funds. How secure is the security part currently designed?
First of all, we fully trust the team’s development capabilities. We have responded quickly to any problems that have occurred so far, and we are currently applying a very high level of security.
We haven’t received the audit yet because we thought it was meaningless to receive only audit for the main contract in the early stages when the game was not fully completed. Because it’s valuable when all the contracts in the project are judged.
The time is approaching for business expansion in a variety of ways. We are planning to proceed with audit in the near future.
I think Web3 games need to be served on more familiar channels, not Metamask Brower, in order to become more familiar to the public. How is the team considering this issue?
Oh, and I think there’s not enough content to enjoy game with only Junior NFTs.
We first created Webapp using Flutter because it was very accessible in its early stages. However, as you said, Metamask Browser has had some optimization problems since the update, and we are also aware of the inconvenience of players. We have separated this issue into several steps to solve it completely as a result. Our first solution is to update the game’s mobile UI more easily.
But in the end, we will also be developing mobile applications, which are under consideration. The 3D Battle Simulator will be played in mobile applications, and the new title, RetaGram, will also provide a mobile-friendly play experience.
We agree with your opinion of junior NFT. We are also aware of that, and we are now preparing a new update. We plan to release additional updates that all players can enjoy soon.
I hope there is a Scholarship so that all players can play P2E.
If we introduce Scholarship at this stage, the number of users may increase temporarily, but we think it is only temporary. Because the future of the game economy is still unpredictable and it is very cautious. We recently unveiled F2P Fast Mode to respond flexibly to trends in the web3 market, and we will continue to discuss Scholarship while watching future trends in the crypto market.
I’m curious about the issuance, market capitalization, and distribution of RETA tokens so far. Also, I wonder what kind of global strategy RETA has to succeed overseas, such as in Japan and Southeast Asia. In addition, do you have any plans to add channels that allow user to use RETA in the game?
First of all, 30M RETAs have been issued so far, and 7.3M of them are distributed in the market. The fully diluted market capitalization is $4,096,320.
The recent update of F2P such as Fast Mode is for crypto players in Southeast Asia as your question. In addition, our new project, RetaGram, will basically be played by anyone for free.
Meanwhile, Reta Wars, RetaGram, and other new games to be added to Retaverse will make GRT and RETA more actively consumed and circulated in common.
When is the launch plan for the 3D Battle Simulator?
The 3D Battle Simulator, which many players are waiting for, will be released in Q2. As everyone knows,
It is a battle simulation developed with the Unreal 4 engine, and thousands of NFTs of players will fight on the battlefield.
This update also adds a new ‘formation’ vote to the war strategy. This vote, which determines the formation of the army, will be a very important key to determining the result of the war.
When will RetaGram be released? I heard that you can use Reta Wars’ NFT in RetaGram, so can junior NFT be used in RetaGram as well?
One of our goals is to launch an early version of the RetaGram and Retaverse platform within this year. Although the exact rules have not been decided because we are preparing for the asset now, we are considering how Junior NFT can also be used in RetaGram.
What is the final goal of RETA and Retaverse?
Quantifying our final goals is sometimes an interesting stimulus for our team and our holders. The goal of Game-Fi platform Retaverse is simple and big: Retaverse will be a platform that integrates at least 20 Game-Fi products. The games will also have at least five different genres.
When this fascinating and huge Game-Fi platform is completed, we often imagine the future of RETA. RETA is a key currency that will be used across many of these Game-Fi products, and at the same time, it will prove its value by allocating staking revenue from all of these Game-Fi products.
We will share more with you!