Date : 02 July 2024
Host : Running Beast | TGH
Guest : Jyro Blade & Arius XYZ (Founder).
Hello Gem Nation and Crypto Enthusiasts!
We recently hosted an AMA with PlayFi. So here we are up with the AMA transcript, for those who missed the live session, this post will be a time saver & a feeder of knowledge for everyone.
INTRODUCTION
Running Beast | TGH:
Hello everyone
Jyro Blade || PlayFi:
Hey everyone, happy to be here. Looking forward to some good questions!
Running Beast | TGH:
Let’s start with some introduction, Please introduce yourself to the community? Please tell us about your journey, experience and expertise in the Crypto field so far.
Arius XYZ | PlayFi:
I’m Arius — the founder of PlayFi. I’ve been in crypto since 2018 and building in web3 since 2021.
This is my sixth tech startup, but the first that uses AI extensively.
Running Beast | TGH:
That’s great
We have got experience and innovation. Two in one today😄
Thanks for the brief introduction
Please tell us about your project and what are you guys trying to showcase? What is PlayFi — How are you transforming live content?
Jyro Blade || PlayFi:
Yeah I’d love to share an intro about the project
I’m Jyro Blade product lead at PlayFi, based out of Brooklyn New York. I’ve been in crypto since 2014 and worked as a video game developer for about 15 years previously. I’ve seen a lot of cycles and trends with both crypto and games.
PlayFi is the culmination of all my experience with both thus far!
PlayFi uses cutting-edge AI and blockchain technology to transform content into real-time data. The way we do this is our AI Agents “watch” games, live streams, sports and more, converting terabytes of video into actionable on-chain data.
We can dig into details as we go, but that’s the top level pitch!
This is really powerful because it helps studios, brands and creators find new ways to engage and monetize whatever the world is watching and playing.
Running Beast | TGH:
Can you please tell a bit more about the idea and how is it implemented?
Jyro Blade || PlayFi:
Of course. PlayFi is a two part system. The first component we refer to as PlayChain. PlayChain is a layer2 atop Ethereum built using the ZKStack framework. We’ll get back to PlayChain shortly.
The more novel component is called PlayBase
PlayBase handles that data ingestion pipeline I described above. Essentially data, primarily video data, is captured and uploaded to our decentralized network of modular nodes.
These nodes are modular because they contain several different togglable features, the first of which being our AI processing module. Nodes running this module ingest that raw video and extract key elements from it.
If it’s a video game, you might get maps and scores and other statistics. If it’s reality television you might be extracting who got voted off survivor. If it’s sports you have tons of data to pull.
This is all processed from hours of video footage down into bite sized text documents that are stored in a way any blockchain can access!
Running Beast | TGH:
So your database keeps on increasing with time and the AI helps you to toggle with different datas.
Jyro Blade || PlayFi:
PlayChain is the easiest way to access it, but we have a bunch of other chains we are working with such as Polygon, Multiversx and ZKSync
The AI handles the data ingestion and extraction. So it looks at a video and says “these are the important parts we should store”. And turns that into an easy to store and use text file.
The other modules handle things like storage, creating zero-knowledge proofs for security, and consensus
They all work together to process, index, store, and retrieve a growing database of real time information
Running Beast | TGH:
That’s really cool. Saves up a ton of space, without compromising with the data.
Please tell us about your upcoming node license sale. How the nodes will work, who can run them, and how can we earn from them. How are you offering ‘Locked in rewards’ to the first 10,000 nodes purchased.
Arius XYZ | PlayFi:
We’re building a massive decentralized network that is capable of processing content with artificial intelligence in real-time, verifying the data and storing it. We’re building for a global audience, and our nodes do the vital job of turning terabytes of content into tiny packets of data that can be used on-chain.
PlayFi nodes have a unique four-in-one modular design, but all packaged in one license. Each node contains four unique and powerful modules that can be toggled individually by the node operator. These modules comprise Artificial Intelligence, Coordination, Zero Knowledge, and Storage.
The modular design means these nodes can run on a much wider set of devices than other protocols, with the team optimizing the tech so that people with standard laptops can comfortably run nodes. We’ll also be partnering with “node as a service” operators for people who don’t want to run a node on their own machine. Removing so many of the limitations is an important part of what will help the PlayFi protocol be decentralized.
The four-in-one design enables operators multiple ways to earn $PLAY from their nodes, with built in flexibility and control.
The first 10,000 node licenses have locked in rewards, meaning the amount you pay for the node will be allocated back to you in $PLAY when the mainnet launches. On top of that, you get a 3x airdrop bonus for having a node license — and these bonuses stack if you’re running multiple nodes. And then of course 20% of the total supply of $PLAY has been allocated to node operator rewards to ensure we build a robust, highly decentralized protocol.
Running Beast | TGH:
That’s too good for investors as well as users
Jyro Blade || PlayFi:
We really believe in making sure our node operators are rewarded for the important role they’ll be playing in the ecosystem.
Running Beast | TGH:
Speaking of rewards, please tell us about the airdrop platform.
Please give us a brief information about the Airdrop Platform? Can we operate this on multiple chains simultaneously?
Jyro Blade || PlayFi:
So, our goal with the PlayFiAirdrop Platform is to do more than just give out rewards (though we absolutely will be giving out plenty of those!).
We want to provide a comprehensive view of what we’re building and demonstrate how our technology is set to revolutionize the way the world interacts with content — whether it’s gaming, sports, live streaming or entertainment. So as you get involved with the platform, you’ll get a real feel for our community and what we’re all about.
Every task you complete on the platform helps you accumulate points, which you can track on your personal tally and see how you stack up on the community leaderboard. It’s a great way to measure your involvement and influence within the PlayFi community in real time.
The platform currently operates across PlayFi’s testnet and Arbitrum, with more chains coming soon.
And you can find it right here:
It’s super easy to get started and we’ll be constantly adding more quests along with our partner projects.
Of course, usual airdrop mentality applies here. More points means more rewards, and those rewards include $PLAY at our mainnet launch later this year
Running Beast | TGH:
Everyone do have a look.
Integration into more chains will attract more people for sure
Let’s get some insight into your token,
Please tell us how $PLAY will be utilised and how it will be crucial for the growth of the project. How are the proceeds going to benefit and foster long term sustainability?
Arius XYZ | PlayFi:
The PlayFi protocol will be powered by the $PLAY token, launching later in 2024.
The $PLAY token provides utility and security to the decentralized PlayFi protocol in four ways.
1. Gas token for the zk EVM PlayChain.
2. Captures and disburses platform fees for data uploading, AI processing and smart contract management.
3. Secures the PlayFi protocol by aligning and rewarding node operators.
4. Serves as an economic bridge connecting fiat gateways and account abstraction to the blockchain.
There will be a staking mechanism for $PLAY from day one as well.
Running Beast | TGH:
Will the tokens be locked? And is there any provision for token burn?
Arius XYZ | PlayFi:
Team and seed investor tokens will be locked and vesting over several years.
We will have some announcements re burning closer to TGE.
Running Beast | TGH:
That’s good
In recent few years, various industries have looked towards a Web3 future. One of the major concerns still remains the security. How are you going to ensure the security of users data?
Jyro Blade || PlayFi:
Ensuring the security of our community is our top priority.
We have implemented a multi-layered security architecture that includes robust encryption protocols and follows secure coding practices. Prior to mainnet launch, our platform will undergo a third-party security audit and penetration testing to identify and fix vulnerabilities.
We maintain a comprehensive incident response plan and encourage proactive security measures through our bug bounty program.
Our decentralized consensus mechanism also ensures resilience against various attack vectors, and we have redundancy systems in place to maintain data integrity.
Additionally, we prioritize employee education on security best practices, and mandate multi-factor authentication across all services and devices, to further protect the organization’s assets. We also work with partners with established track records to ensure we are working to the highest industry standards to provide a secure environment for anyone interacting with the PlayFi ecosystem
Running Beast | TGH:
This is something that projects give very less importance to.
Glad that you have covered all fields.
Jyro Blade || PlayFi:
Being an organization that deals with data means we place a very serious emphasis on getting this right. We all individually care about it and make sure our company culture reflects it. 🤝
Running Beast | TGH:
Last questions before we move on to the Live AMA community questions.
Please tell the community about your plans ahead. Why should we invest in your project. Please tell us about the Public Sale, Upcoming events, Roadmap, milestones and potential updates moving forward.
Arius XYZ | PlayFi:
PlayFi is at the intersection of three megatrends which makes it a really exciting time to be building…
AI — it’s an exciting time, and PlayFi has proprietary AI technology that is highly optimized and efficient.
DePin — we’re building a massive decentralized network of nodes that will power the protocol.
and of course content and the Creator Economy. Over half of all data on the internet is “content” that people watch and play, and so far I think blockchain devs have slept on this massive opportunity.
The launch of our Mainnet and the $PLAY token will happen later in 2024, but there is lots to look forward to in the meantime…
We have our airdrop platform and testnet live already, with almost 50,000 people in our community between Discord and Twitter. Although $PLAY won’t launch for a few more months, we want to give our community as much time as possible to engage, learn about PlayFi and help us spread the word.
And of course happening later this month is the PlayFi node license sale, with pre-sales happening later this month ahead of the public sale. You can earn referral rewards and discounts, and of course owning a node license will be one of the easiest ways to qualify for the $PLAY airdrop.
Running Beast | TGH:
That’s too much good news all at once
Amazing for the PlayFi community
All the best for your upcoming campaign and events.
LIVE AMA QUESTIONS.
Lucas:
Why should I hold the $PLAY token after public sale. Most tokens dump after public sale.
My fears are :
1. We are in a bear market
2. Whales dumping .
Please allude my fears
Arius XYZ | PlayFi:
I think one of the major problems is projects raise a lot of funds from VCs who then dump on everyone else… the project never recovers.
We’re limiting the involvement of VCs in PlayFi for this reason. I’d rather see the tokens go to community members who are helping us build.
Willson 120:
What are the main challenges PlayFi have faced during the development and launch of your project? how have you been able to navigate this challenges
Jyro Blade || PlayFi:
The main challenge is often explaining the protocol. It’s a relatively new concept and so often people assume we are another “gaming blockchain” or something else they’re already familiar with.
We’ve gotten a lot better at pitching the idea, but we are always refining it to potential investors and community members
Christopersimeone:
“Polygon wallet holders will be some of the first to gain access to the node sale, with additional pre-sales for other major chains”
About this can someone explain to me what I do to be onboard
Arius XYZ | PlayFi:
Make sure you’re following us on X to get the latest news:
You can also sign up for alerts (and potentially get whitelisted) on our website: https://www.playfi.ai/nodes/
Cadava Jane:
Hello sir👋
🚀There are too many NFT projects in the crypto market to confuse everyone. Is #PlayFiGaming considering multi-channel development for your project? For example, collaborating with more art or gaming projects, and collaborating with NFT trading platforms to build relevant markets? And what killer features do you have to scare your competitors with your current technology?
Jyro Blade || PlayFi:
Good news, we aren’t an NFT project!
We work extensively with infrastructure, gaming, and art platforms because the data we extract is applicable to anyone looking to build on existing content in real time.
We’re the only ones doing this in web3 right now, so we have a huge head start on our AI and data pipeline. We have a few patents currently under review as well!
Alikaa Azzahra 🐣:
Is your platform suitable for crypto beginners? Or does it only limited for professional users?
Arius XYZ | PlayFi:
We’ve designed our node platform so that people with a “standard laptop” (~5 years old) should be able to run them. We’ll also have partnerships with “node as a service” platforms that will run your node for you (for a % of the rewards you earn).
So YES — it will be super simple to run a node.
Fransisco:
What are your marketing plans for the Longterm, any partnerships? Or how many partnerships. What social media platforms will be used?
Arius XYZ | PlayFi:
A combination of the usual stuff and some groundbreaking things.
We’ve got some great KOLs on board, who have been working with us to not only help market the product, but are actually helping us ensure we’re building something “crypto friendly”.
We’re also working with one of the world’s largest streamer agencies, and will have some great streamers on board to help demonstrate how our product works at scale.
Willson 120:
What are the main challenges PlayFi have faced during the development and launch of your project? how have you been able to navigate this challenges
Arius XYZ | PlayFi:
The AI part of our platform has been under development now for almost three years. It’s one thing to build AI tech that works ✅ — it’s a much tougher problem to make it higly efficient and cost optimized.
Now that we’ve solved that problem, we’re full steam ahead to launch.
Johnsss___:
Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Jyro Blade || PlayFi:
Every single day.
Over a decade working in indie game development really teaches you the important of building with your community. Testing, iterating, and collaborating with your audience ensures a better product and buy-in from your most important supporters. We got a testnet up and running before we even started marketing, it’s that important to us that users can contribute to the development process.
Our ideal consumer is builders, developers and players that want to make or enjoy rich experiences on top of existing content. I often equate what we are building to the way fantasy football works. Fantasy sports attract people that care about not just the base game, but allllll the cool stuff and stats and metagame on top of it.
wayae only 🦊:
What is your strongest advantage that you think will make your team leading the market?
Arius XYZ | PlayFi:
We’re the first blockchain project that turns content into data, so I think PlayFi has an incredible opportunity to be a massmarket adoption catalyst for crypto.
We’re building a lot of real world relationships with creators, streamers and content creators that I think will help us be successful.
Borbás Barna:
Considering the market condition how they are team intend to make this project stand out? Would their be opportunity for community members to have their impact? And moreover this project its local project or global project? If its global project what is they are plan to avoid heavy dump of the project and moreover. Some will say staking is nothing new and has been done countless times. How do you plan to make it feel different and exciting for investors. Also it is never sustainable, what do you say to that?
Arius XYZ | PlayFi:
I think the most important thing is to build a product that is useful to the brands, creators and studios that serve massive audiences.
Useful products typically make money, and when a project makes money the token benefits.
Lolazieta 화 🏹:
Recently we have seen many promising projects that produced great startups but were suddenly abandoned because they did not generate enough revenue. How can we be sure #PlayFiGaming won’t disappear even if your initial income is low?
Jyro Blade || PlayFi:
Short answer is that we already have enough funding to make it through our minimum viable product and short term after. We can launch PlayFi without another cent of funding if necessary.
Obviously more funding let’s us really pour gasoline on the fire and expands our opportunities. But we definitely have enough runway to do everything we need and are experienced with working on a frugal budget from our experience in video games and tech startups in the past if necessary.
Our website! https://www.playfi.ai/
Discord! https://discord.com/invite/playfi
Twitter! https://x.com/PlayFiGaming
Telegram! https://t.me/+5hX1SW04KE45NzA1
