KuCoin AMA With Reality Metaverse (RLTM) — Enabling Web2 to Coexist With Web3 in Harmony

2023/04/12 09:01:00

Dear KuCoin Users,

Time: April 11, 2023, 11:00 AM - 12:01 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Co-founder of Reality Metaverse, Maciej Burno, in the KuCoin Exchange Group.

Official Website: https://www.realitymeta.io/home

Whitepaper: Click to view

Follow Reality Metaverse on Telegram and Twitter.


Maciej Burno — Co-founder, Reality Metaverse Project Head

Q&A From KuCoin

Q: Can you tell us about you and your role in Reality Metaverse?

Maciej: My name is Maciej, and I am head of Reality Metaverse, co-founder and its CBDO. I am also an international speaker and keynote speaker, and I have spoken in more than 30 countries, including China, the United States, Russia, India, Brazil, the UK, and many more. I bring over 20 years of experience in gaming and platform building, and I have held numerous management positions in companies such as Wanda Group and Samsung. Also, the last project that I created was Catapult by Aptoide. It went from 0 to 200m users in under two years and became the largest Android distribution platform.

Now we're focusing on web3 and bringing our expertise to the platform we're building here.

Q: Can you tell us about the history of Reality Metaverse and why you decided to launch the project?

Maciej: So, we are a game company focusing on Reality Games — and we have been creating Geo-location and AR gaming for over ten years. We are currently the top 3rd game developer globally in this genre with top games of Landlord Tycoon and Landlord GO. In addition, we have collaborated with Hasbro to develop a Geo-location game based on Monopoly next year.

When we look at what is happening now, most successful companies were born where web1 was moving into web2, and with that, we want to take this opportunity to show that history repeats itself.

We strongly believe that a true ecosystem and metaverse cannot exist if the users don't have the ability to really own their assets. With that in mind, we decided to incorporate web3 elements into our games played by millions of players.

Our vision is different - we let web2 coexist with web3 in harmony, never forcing one or another to do things they don't want. By making it natural, they can eventually supplement each other. And that is our goal. Long-term platform building that connects five upcoming games to RLTM token and our NFTs and building long-term incubator that can ship 100s of games eventually

Q: You are originally a game developer now moving into web3. How will you onboard the web2 users to web3?

Maciej: So, let us talk about NFTs first — Reality NFTs. Each NFT has a 3D model corresponding to the asset and these 3D models can be used in games, metaverses, and movies. So we "borrow" these models into our games and let them be used as premium content so people who play these games (web2) users will monetize this content through in-game purchases. The purchase usually happens in google pay or apple pay. Now our games will exchange the USD and buy back RLTM tokens. The long-term goal is constant buying pressure on tokens. Future sales of NFT will be used to drive marketing to games which is much easier than driving marketing to Crypto.

The question is, how do we convert the users? Let our players play the game without worrying if it is NFT. If you play and enjoy the game, you will eventually spend money on it. 3% of players usually do that. Each purchase will receive a free loot box that contains NFT or tokens as a gift. Even though players don't have wallets, we create them when they open the game for the first time so that they can collect NFTs and other assets as they play normally. Besides those strategies, we educate them slowly on these NFTs and what they do eventually. After that, they have enough incentives to get interested in the web3 part of the project.

As for non-paying users, they need to log in every day, and every 30 days, they get a free loot box where we will send them to our website to claim as NFT or others. We still monetize these users through in-game ads, making it sustainable. Thus, the project we are building is very sustainable, and we can expect the token value to increase due to constant demand from game developers to buy back tokens from the market.

Q: Can you tell us more about the utilities of the NFTs?

Maciej: NFTs have a concept of "expendable utilities." For example, we now know that 30% of all revenues generated in our games will be used as royalties to the NFT owners. Therefore, if you own Eiffel Tower and someone in-game buys a skin of the Eiffel Tower for $100, you, as an NFT owner, will get $30.

Imagine we have 6 games (Landlord GO + 5 games in our pipeline). The utilities of earning these royalties are extending to more games. What about our incubation? You can google Railway 3.0 to check - there will be another up to 40 projects yearly.

Again, the same concept expands the use of a single NFT to multiple projects, allowing users to earn royalties from many projects. This is the main concept of why owning NFT and holding it. In the long run, it all makes sense because it is not speculative and does not have only collectible value. If we don't make money in games, NFT owners won't make them too. Fortunately, we have been quite successful for over 10 years and diversify risk to other projects. Things are looking good.

An additional utility, which is very important, is the creator fees. We share them with the community. So every time NFT is bought/sold/minted - NFT owners will get part of our market fees! We fractionize NFT into shares to ensure that NFT won't cost $100k or more because it is a famous building, but rather, it is affordable to everyone and easily understood by web2 users as well.

Q: How about the RLTM token? Why is it needed and what are the long-term goals for it?

Maciej: RLTM is the heart of the ecosystem. What it is now is the foundation of the project. Even Royalties are paid in RLTM. So as you remember, 30% of profits in games, metaverses, and other partnership projects are paid to us in fiat (usually EUR or USD). We convert that money and buy back RLTM to pay the community royalties for owning NFTs.

But this is not the only utility. Holding RLTM will allow people to have priority buys on new NFTs minting. They will also have auction discounts on our website. Also, we will have access to DAO.

We have also prepared community funds where the community will decide what to do with extra profit. donate it to a charity or organize some funny event in front of the Trump Tower in NYC. After that, it's up to the community itself.

Lastly, we have game developer funds, where we will pay other game developers to create games for Reality Ecosystem. However, this is more of a long-term goal when the token price stabilizes at least 20-30x higher than now. We don't expect it today, but we can achieve it by bringing value over time and working hard. Otherwise, it won't make sense to pay developers a large % of tokens and have the project in jeopardy.

Unlike many other projects, we do not need to make money from a token. Instead, we earn from NFT and games, so with the constant buying pressure, we will slowly grow, and so does the project. Now that we finally listed today, we can focus less on investors, launching, and exchanges and more on content. It was very hard to do value and marketing without RLTM being listed.

Free-Ask From KuCoin Community

Q: What is the concept behind Reality Metaverse, and what makes it unique compared to other metaverse projects?

Maciej: We started with millions of players, mobile users, and gamers, so we don't have to build a community from 0. Additionally, we focus on bringing reality to the metaverse. It is not abstract. We are not selling a piece of pixel and calling it land in some computer-generated map. We are focusing on utilities that make sense and allow users to earn part of our profits.

Q: Many projects fail because their target audience and clients are not understood. So I'd like to know who is the ideal consumer for your product?

Maciej: We are listening to the community. Hence we are working on adding a DAO. We also have community grants that people will decide what to do with extra profits. We share profits (we don't have to) and the creator's fee (we also don't have to). We also want the token to be owned in the majority by the public, not us, to decentralize it.

Again, our focus is utilities; the market will then value the project.

Q: How does Reality Metaverse plan to balance the needs of both Web 2.0 players and Web 3.0 creators, particularly when it comes to issues of ownership and royalties?

Maciej: The users get to own digital versions of famous locations, and landmarks. Our job is to monetize them with utilities that are outside web3.

Imagine you play Fortnite and you have a Spiderman skin. Why do people buy this skin? Because it gives them fun, pleasure, or better stats. They don't care that it is an IP from another universe, another company. There is a deal behind profit sharing, and the same applies here. NFT owners can be players, but they don't have to be. At the same time, web2 players are still enjoying the game without buying NFTs. They can once we educate them, but no need.

Let people have fun (that's why they play games!) and let our community be 'player-investors' if they choose to.

Q: Fractional NFTs are a new concept that Reality Metaverse wants to adopt. Can you tell us how it works and how we can earn royalties from fractional NFTs that we own?

Maciej: We are trying to make 1 Eiffel Tower. the price could eventually skyrock to $100k or more. After all, it is the most famous landmark. Unfortunately, this causes 0 liquidity, and the average person cannot enter. I wouldn't, so the concept is different here when we fractionize them. Imagine that now we make it into 10k shares. Each share costs $10. How cool is it to own the Eiffel Tower for $10? From web2 point of view, that is cool, affordable, and easy to access. On the other hand, from web3, I can always buy 1000 shares and own 10% of the building.

What happens to royalties if I own 10% of the shares? I earn 10% of all royalties for a particular property. but we are not releasing all shares right away. Today, only 100 shares of Eiffel Tower. why? so that ROI is good for users and shows the project's promise.

We add more games and release more shares, but each NFT will have a fixed amount of maximum share. So even if you buy late, you should not earn less than early adopters.

Q: I checked your project and found it easy and simple, but I did not find languages other than English. Will other languages be added in the future, or will it be in English only?

Maciej: Yes, now that the project is live, we are bringing Asian languages (Korean, Japanese, Chinese first), then Spanish, then SEA languages to live! We decided to focus on building long-term, and only with the token listing can we expand to others. Marketing will also start shortly in all other languages.

KuCoin Post-AMA Activity — Reality Metaverse (RLTM)

🎁 Participate in the Reality Metaverse AMA quiz now for a chance to win $10 in RLTM!

The form will remain open for five days from publishing this AMA recap.

Giveaway Section

KuCoin and Reality Metaverse have prepared a total of $2,000 in RLTM to give away to AMA participants.

1. Pre-AMA activity: $400 in RLTM

2. Free-ask section: $50 in RLTM

3. Flash mini-game: $400 in RLTM

4. Post-AMA quiz: $1,150 RLTM

. . .

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