OceanTalk — DBET AMA Follow Up
Thanks for all participants who joined the OceanTalk AMA session with Decent Play, we have received many insightful questions. Due to time limit, we are not able to address all questions, instead, we have prepared this AMA — Q&A summary for our community members as a reference regarding DBET project.
Notice: Only pre-collected questions will be rewarded. All rewards will be distributed within 7 working days. Welcome all for participation in the future.
As we know that GAMING is one the main application of blockchain technology, so what makes Play Decent differentiate with other gaming-oriented projects in the industry?
I feel like specifically what we do with playDECENT.gg is totally unique in the gaming space. Through our partnership with PlayVIG, we have an application that allows for single player quests and peer-to-peer competitions where users can compete on the world’s most popular video game titles for tokens. What really sets us apart is through PlayVIG’s patent-pending virtual referee that allows for instant game resolution without the need for any third-party oracles. It not only limits potential errors — but it allows for more game play and an infinitely more scalable platform.
Can you tell us about the application scenarios of DBET?
DBET is truly a utility token. It can be used for competitions on our playDECENT.gg platform where people can again compete on the world’s most popular video games in order to monetize their time.
Historically in eSports the only way to make money for the games you love only the top influencers with a following could do so.
For the first time ever our platform will allow people that love to play games to be able to earn money for their time and passion. Even if you do not have a following :)
we have noticed that Decent Bet has moved from Ethereum to VeChain and engaged in a strategic partnership with VeChain, can you tell us why did you make such a decision?
This was easy. First, and we mean this as no slight to Ethereum, but we were impressed with VeChain’s vision of an enterprise solution. From Sunny down to the technology team and community support staff, we believe VeChain “gets” where blockchain is headed. VeChain has provided instrumental strategic support to us as well. We’re also impressed with VeChain ecosystem partners from Plair to OceanEx and Totient — some really impressive people and projects.
Also, they have some amazing and unique protocols like MTT and MPP that allow us to be much more efficient as an organization while we scale and allows for true mass adoption as we are able to cover users fees. Our goal is to position ourselves for true mass adoption which means even people that are unfamiliar with Blockchain and Cryptocurrency need to be able to use the platform so we need to eliminate as much of the friction and complexity as possible and the need for that familiarity. Fiat to DBET along with covering the VeThor transaction fees allow users to adopt the platform without any Blockchain knowledge and by creating a marketplace where people can exit the platform without this knowledge is our end goal and we could not do this without VeChain.
Any project looking for true mass adoption needs to look at VeChain in our opinion for the reasons mentioned above.
PlayDECENT.gg Mainnet has been launched recently, could you give us a detailed introduction about it?
We launched the Beta of playDECENT.gg at the VeChain Summit in April and had our full product launch at the end of June. We just started ramping up marketing for it in mid-July and we’re thrilled with the adoption so far. Like I said earlier, playDECENT.gg allows for single player and p2p competitions with real stakes.
Users can compete on the most popular video game titles in the world, win DBETs, and convert those DBETs to cash. With the use of Blockchain technology, PlayVig’s patent pending virtual referee and VeChain’s unique MPP protocol we are lean, scalable and different in so many ways from every other traditional or Blockchain based gaming platform out there.
Now we can use our skills on PlayDECENT.gg like Fortnite, PUBG, DOTA 2, Hearthstone, Rocket League and APEX Legends, are there any appealing features or games will coming soon on the platform?
The biggest feature in the upcoming roadmap for us is the ability to buy DBETs with FIAT. Right now we encourage our users to buy DBETs on OceanEx or through the PlayVIG store and we are working on the fiat to DBET option we believe is a game changer for mass adoption.
We will be taking this opportunity to onboard people that are currently not familiar with crypto to educate them about the benefits of Blockchian technoloogy, OceanEx and why this technology is important doing everything we can to inspire them to adopt Blockchain into their lives.
The next title we are looking to release is Magic the Gathering and exploring CSGO as an option as well with many more games to come.
Speaking of the roadmap, could you give us more updates on DBET marketing in the future?
After our full launch, we only marketed to our DECENT.bet community. We wanted some time to iron out any bugs and improve the UI / UX of the platform. Those early adoption numbers definitely exceeded our expectations. The total number of quests played was a little under where we thought we’d be — but the account signing up was ahead of our projections. We determined why that was the case and began to directly reach out to customers who hadn’t played a game yet. The number of customers who have created an account but haven’t played a game drops every day.
On July 15th we began running commercials and banner ads to PlayVIG users on their platform. In under two weeks we’ve seen 300% growth.
We’ll begin more influencer-based marketing as we near the fiat solution launch as we believe that’s a crucial component for onboarding non-crypto savvy users. However, we have begun discussions with a number of influencers already and are prepping for those campaigns as we speak.
Here is an example of one of the commercials we run:
Do you think the games on PlayDECENT.gg would eventually enter into our lives and become popular in the near future? How would you plan to achieve this goal?
The games themselves already are! Apex Legends, Fortnite, Hearthstone…these are some of the biggest video game titles of all time.
PubG Dota2 Rocket League as well.
Now how playDECENT.gg penetrates a larger mass audience will take time. We view it as a brick-by-brick build. However, we’re executing our strategy as planned every week and the adoption is ahead of schedule as of now. We just have to keep working hard, improving the product, and we are convinced playDECENT.gg will achieve mass adoption.
Q&A from community members
What makes DBET different from other security token in terms of gambling? @Joseph Esparago
Great question and thank you all for participating! The key differentiator here is we are not classified as gambling due to the fact that our platform is skill based.
Gambling is defined as risk/ chance/ reward with the key word here being chance. Chance is defined as a third-party variable that is outside of your control such as a roll of dice, deal of cards, spin of a roulette wheel or someone or some other teams performance all of which are again out of your control.
Our platform is designed to offer single player quests and p2p challenges and tournaments where you would be the one competing eliminating the chance aspect as the outcome is decided by your skill as an individual — making us risk/ skill/ reward which is competing not gambling.
Can I earn DBET tokens by watching ads or is it possible only by playing games? @texnobuddy
Yes you can earn DBET tokens by watching ads on the PlayVig platform and earning PlayVig rewards that can be redeemed for DBET tokens through the PlayVig store. You can also increase your PlayVig rewards more quickly by competing on games in the PlayVig platform.
Firstly, congratulations on all of your success since the beginning. Releasing playDECENT has been a remarkable achievement. To that end, the success of dbet will surely require widespread adoption of the platform itself. Does the team have any particular plans set forth in terms of marketing that could lead to an influx of new users utilizing the platform in the future? Thank you in advance! @noreaswesou
Could not agree more that widespread adoption is the key to the high levels of success we strive for. This will depend on both marketing and simplification of adoption for people that are not familiar with Blockchain as Blockchain as a whole is not where it will be in the near future and still only entails the vast minority of the worldwide population. The truth is Blockchain has a small fraction of the population and the infinitely larger opportunity lies with the rest of the world.
The Blockchain community is already able to use our platform due to great partners like OceanEx and our strategy to open up to the rest of the world follows.
Our strategy here is two folds, continue to execute our marketing plan as described above through traditional marketing avenues and utilizing influencers within the gaming world as well as working toward eliminating the hurdles traditional Blockchain creates for the average person. When these two paths come together for any platform within the space that has a large addressable market like eSports does, 100’s of millions of users just on the games we currently offer, you can only imagine what would happen.
As mentioned earlier, this will have a huge impact on the Blockchain industry as a whole as we feel we will be a thought leader and a pioneer in true mass adoption of the industry as we will be educating all of our users as to the benefits of Blockchain tech and OceanEx.
What are some milestones to look forward to? What do you predict largest challenges will be in the future? How do you plan to address them? @PeterIsHere
The key milestones coming up will be the release of more titles, the release of the Mac client as well as mobile and the Fiat to DBET offering we are working on being able to offer.
The largest challenge for the platform will be onboarding the average gamer that does not know how to use Blockchain technology. Simplification is key here including accepting traditional payment methods and allowing these users to exit the platform in ways they are used to.
Again our overall goal for Blockchain in general is to bring it to the masses and assist however we can with widespread adoption of the entire industry. We will constantly be educating all of our users in this regard.
How did you guys survive in this long bear market and what difficulties have you encountered during this period? @haranesalter
Thank you for the question and it was rough for all of us including the king BTC, no one was immune.
It took an immense amount of confidence in what we were building, agility and confidence in ourselves to make hard decisions and adjust as needed based on variables outside of our control.
Endless persistence and making adjustments to resource allocation to survive as we have seen many projects shut down completely.
The most challenging part was sharing our positive outlook in such a negative time for most people. We communicated as much as we could and continually shared our dream and vision and our community saw how hard we were working so all of this helped to keep people’s spirits up and allowed us to make it through with our heads up high.
So do you guys feel satisfied and happy with the progress you have made when you look back to the day when you started #Decent.bet? What is your vision? @cryptodoomer007
Great question and we could not be happier with where we are. We have had curveball after curveball thrown at us but truly feel we could not be in a better place. It was not easy, took a huge toll on us all and again we had to make countless decisions and some very hard ones at that. An easy one for us and one of the most beneficial ones was switching over to VeChain but the challenge was getting everyone to understand the thought process and why it warranted a second token conversion and a delay while we made the switch. Looking back we are so happy we did.
The other major one, which was more challenging to make as we had to shift the platform roadmap and reprioritize, was moving to eSports. In January of this year we had been waiting almost a year, delay after delay, for Malta to start offering licenses to Blockchain based offerings with no end in sight and we needed that license to move into larger markets and to even get closer to being able to offer in major markets but we never gave up on our commitment to build something great so we found the direction we needed.
Looking back 7 months now to this past January we not only figured out where and how to pivot that resulted in a MUCH MUCH LARGER addressable market that we could have ever dreamed of having at this point with a traditional gambling product but we also delivered an amazing platform featuring the world’s favorite games with patent pending technology allowing for true scalability.
We are very very happy and proud of where we are.
Our vision is to build one of the largest eSports platforms in the world.
How do I place bets on the platform and What are the fees? @snsbreakout
Hello and thank you for your support and interest! It’s actually quite easy simply go to playdecent.gg, signup for an account, select a game and start playing. Reach out to any member of our support staff if you have any questions or issues and here is a brief video showing you how easy it is: https://www.youtube.com/watch?v=72FfJX7y9-s
When will DBET officially launch any desktop player? @DuncanTraynor
We currently have our PC client launched and Mac is top of the priority list.
I have read about the games and follow me. I can make money on the platform. But I’m not sure how I was given a commission. I am a pubg player. @canh1993
You compete in single player quests and soon you will be able to compete in p2p challenges as well as tournaments to win crypto. Signup an account on playdecent.gg and see the options available for PubG. Let us know if you have any issues or questions. So if you win the challenge or tournament then you win our token.
When will you successfully implement this DECENT will establish a certified 501c (3) charity called Decent C for Humanity or Decent Charity for Humanity? @Shan_is_real_king
We are currently working on this and will be available ASAP, we expect in the next 1–2 months but we need to go through the process and make sure everything is setup correctly.
This is one of the most rewarding aspects of the project to us as we firmly believe in changing the world in as many ways as we can.
Giving back is something that is very important to everyone on the team.
How have you been managing your raised funds from the ICO trough the bear market? @mandje
We made adjustments to make sure we were as responsible as possible as we were committed to surviving which we did.
Are you also planning to launch dapp or mobile application to make betting more popular? @dev821
Yes we have mobile in our roadmap.
Why you chose your project name as Decent.bet? @manjusan
We look to provide an honest transparent decent way of gaming.
What benefits for user can get from Decent platform? @AyushIsHere
The opportunity to monetize their skills and time with gaming on a trusted transparent platform.
When listing on other exchanges? @BBH_0707
We are more than happy with OceanEx and will focus more on the larger market which will be Fiat to DBET so the hundreds of millions of players that may or may not know blockchain can use the platform regardless and the ones that do can use OceanEx. That being said we are always looking to increase the availability of the token where and when it makes sense.
With blockchain being such a young industry, partnerships are an integral component of any project’s journey. Which types of partnerships have decent.bet already attained and what are the plans on this front moving forward? @SgsErg
PlayVig is the main and most important one here to us. The other partnerships we will look for in the near future is with influencers in the industry as that is a big part of eSports, they have a huge impact.
Do you have partnerships with other projects working on same model? @loveubtc
No crypto projects but our partner PlayVig has a similar model but you compete for rewards like frequent flyer miles that can be redeemed in their store rather than tokens that can be redeemed for cash.
How does Decent’s transmission guarantee users to play smooth games? @teodzz
You are playing the already existing and successful games like Fortnite Apex Legends etc which have already been proven to be smooth.
How will you eliminate fraud on your platform? @GC2080
Through reporting and experience finding people trying to game the system and requiring KYC.
Does Decent plan to develop to developing countries about the electronic money market like Vietnam and China? those are lucrative markets. @teodzz
We will do everything we can to be available in as many markets as possible so yes we do.
Does DBET utilize VIP 191 in some way currently? Or only MPP for now? @DBETJedi
We use it to cover players fees and will utilize more and more of its capabilities.
Are you registered in the USA? @bitcoin_eth007
We are currently registered in Malta but in the process of registering in the USA, it won’t be long.
Which popular game is currently on DBET? @CarmellaRaymond
Fortnite, Apex Legends, Dota2, Hearthstone, PubG, Rocket League.
Won’t Plair and DBet just destroy each other in the same ecosphere? @Qpido
We are different in many ways from one another. Plair is focused on a community earning rewards streaming etc. We offer the opportunity to compete on your skills, not rewarding a social like community, nothing to do with streaming etc.
Are you worried about the hurdles of changing from fiat to crypto for consumers? Seems like a lot of hassle to buy into the system with very little ways of getting the money out. @Qpido
Fiat to crypto would be extremely easy and not have hurdles. On the way out would be through an expansive marketplace with many appealing options.
Do you think there will ever be any schemes available to investors to create a roi apart from gaming on the platform and passive price increase? @Strawbs18
We still have game room creators and backers in our roadmap and regardless will always have this in our sights wherever possible but regulations are the key factor here.