Linked Finance World Youtube Live AMA with Legend of Fantasy War Recap
On 29th April 2022, Linked Finance World had a Live AMA session with the CEO of Fantasy Legend LLC on the LFW Official Youtube Channel, hosted by Ms. Tram Hoang. This talk was to share the latest updates on the market about GameFi, Metaverse, and Web3.0. The CEO also briefly reports LFW’s achievements for the last 6 months and presents what LFW is working on, and answers some community questions. This is the time for you all to understand even more about LFW Ecosystem.
A giveaway campaign was organized with a prize pool of 1000 BUSD for the best 20 questions. We have received thousands of participants and 20 winning slots were shortlisted. The list was published on LFW’s Official Twitter Channel. We also sent a confirmation email to the winners, please check your mailbox to claim the reward.
In this article, we are covering the questions addressed during the AMA. The entire video including Q&A with further details can be found on our Youtube channel here.
Session 1: An overview of the market about GameFi, Metaverse, and Web3.0
Q1: We have seen a tumultuous 2021 for the cryptocurrency industry. A series of projects were launched, promoting strong cash flow into the market, drawing the attention of the community and a series of "big guys" in the world. However, will major milestones continue to be created and what challenges will crypto face in the near term? How to build a really successful blockchain project? How will developers build and improve Web3? Could you please share your views on the GameFi market; Metaverse; Web3 in general?
These days, people all around the world talking about GameFi, Metaverse, and Web3. Not only in the Binance Blockchain Week in Dubai, even at the recent conference about Web3 and Metaverse. A lot of companies and communities, and also builders are putting their hands and working very to make it happens.
For metaverse, it will be really interesting to see and interact with people around the world (they will appear in front of you).
For web3, it is also amazing that lots of builders are working hard every day to contribute to a transparent internet. Of course, these are also what our LFW ecosystem is working on, trying to move the border of Metaverse and Web3 closer to the community.
Q2: It is great to hear that you guys are really involved indeed. Would it be an exaggeration if we say everything is focused on the metaverse in the future, and How will the metaverse change our lives?
You can see that, 10 years ago, people even do not know what Facebook is, they often have a meeting with their friends, or go to the coffee shop. However, at home, many people have their phones to chat with people via Facebook in terms of text or images. For the metaverse, it is another level of social life. Facebook also changed its name to Meta, and they provide lots of infrastructure to people around the world to contribute to building the real metaverse.
Of course, a single person or a single company is not able to do it. For example, lots of companies and projects say that they are building a metaverse. However, it is very centralized. In order to build a real metaverse, the community has to do it.
Q3: So, as you say, years ago, when we used to go to a coffee shop and when we have Yahoo which is a very long time ago. Then, we change to Facebook. It is amazing how quickly these things change. So, which one do you believe will turn big in the future? Could you give us a quick presentation on this?
Now people tend to move to Twitter because of the real-time interaction. Therefore, the metaverse is exactly a real-time interaction between you with your friends, which is really important nowadays.
As I said before, Metaverse is a huge topic, we are working on the fundamentals of the metaverse which is GameFi. From our knowledge, from our technology, we will provide the infrastructure to support people doing lots of transactions, i.e., token, NFT. From that, we will contribute to the metaverse and web3, a very long story that we are working on.
Session 2: LFW short report on the last 6 months
Q1: Thank you so much for very open and honest about this. It will be very great if you can show what you have been doing for the last quarter/6 months?
In a very short time, our team is able to deliver, I would say the best role-playing game on the market at the moment. In Q3.2021, we have released the beta version, and also deliver the Decentralized Finance (Defi) component so users can stake the token, stake NFT and so many functions that we’ve already implemented on other projects they don’t really have. In Q4.2021, we have upgraded quests and gameplay activities with P2E feature; gameplay content; NFT Marketplace ONCHAIN; NFT Assets Farming (the first project to do it).
On Q1, 2022, we have continued to upgrade the gameplay content, and also, we are planning to let people trade in-game items. That’s all about the Legend of Fantasy War project.
On top of that, we have built our own Decentralized Exchange called Linked Finance World
As you can see in a very short time, we’ve delivered a lot of things and still working very hard to improve and bring the best experience to our users.
Q2: Could you tell us a little bit more about the utilities of LFW token that has been used in LFW Ecosystem? What benefits does it provide to users now and in the near future?
I would say that $LFW from the 1st concept, is used for the gamer, to play the game, and also to pay the reward for the gamer. But we’ve found that people consume less than 1% of the total supply. It’s good but to attract more people, we built our own Decentralized Exchange (DEX), now people can early invest in new projects like IDO, ICO, or INO. They can use $LFW to buy other NFTs at a very good price. Also, they can use the token to do staking, farming, governance voting right, collect, trade, and use for play2earn. A lot of utilities that now we are working on to make it happens.
Q3: So how do you plan to attract more new users to Legend of Fantasy War?
To attract more users, I would say to attract more investors like token holders, more players, and traders.
For the investors and also the traders, we list $LFW on many DEX like ByBit, Houbi.com, Gate.io, etc. we worked with so many DEXes to make it happens.
For the players, we organized many events to reward the player and incubated other studios to help them publish their games, thus the communities will be shared.
Here the game and Metaverse publishers, instead of working a lot on game or blockchain, we provide API for them. They just need to connect to our existing technology, then they can publish their game quickly and with minimal investment cost. Also, we play as the validator to protect the rights and benefits of players.
Q4: Could you briefly show us what are you working on currently?
Firstly, we keep developing the game Legend of Fantasy War. Because the game itself has so many features, so we have to develop them, fix the bugs, test all functions, and do our best to deliver the best Blockchain game to the community.
Secondly, we have already delivered our Decentralized Exchange (DEX) platform – Linked Finance World, and provide our own DeFi products like staking pool, and farming pool also.
Thirdly, our team is working on API, how to help other studios of creators worldwide to publish their games in the blockchain space. So we have created a GameHub on our Ecosystem.
And one important notice that will be announced soon, is how to increase the liquidity of LFW token.
Session 3: What are we working on?
Q1: Could you please tell us What are the several ways that "Linked Finance World (LFW)" makes income/revenue, and what is its "Revenue Model"? How might it assist both the investors and your project in a win-win situation?
At first, we would like to attract more players and link them together to share their passion and create social values, utility values, and entertainment values also. => users keep trading => the fee from NFT will be redistributed to the players.
Secondly, as other studios publish their game on our DEX, the transaction fee will be very small, just 0.22% (smaller than other DEXes’ fee). Then the fee will be redistributed to token holders on the liquidity provider => the cash flow will be more clear.
Q2: What can you say is unique about Linked Finance World?
Linked Finance World creates the value for LFW token. We welcome other game publishers to join our LFW Ecosystem, we’ll support them to list their tokens on our DEX FOR FREE, then of course the fee’s gonna be redistributed to their communities. This is very fair and good for both sides’ communities.
Session 4: Ask Thomas Anything
Q1: Talking about the plan on implementing global adoption? How do you intend on getting more users, community, and investments from all parts of the world including non-English speakers and communities? Do you have any ambassador or referral programs?
Talking about the plan on global adoption, we are aware that different countries have different cultures, so we incubate new projects, and help other studios blockchainizing their games => to enjoy cross-community.
About the ambassador program, we are always open and are looking for the best candidate to open, get in touch, and support the new community.
For example, our team actively went to Binance event in Dubai and joined Blockchain week held in Paris. If you are a community leader, don’t hesitate to contact us anytime to discuss about a potential collaboration.
Q2: Do you have any Coin Burn or BuyBack system, or any token burning plan to increase the token value?
BuyBack and Burn are what we are working on. At the right time, we’re gonna announce the burning event. At the moment we see a lot of problems with the new blockchain games in general, they don’t have enough liquidity. Thus, now we are focusing on that to increase the liquidity pool for our token first, then supporting other tokens to increase their liquidity as well.
Q3: Do you have any plans to attract new investors and to make the current investors happy? If so, how do you plan to achieve these?
We have different kinds of investors with different expectations. We keep focusing on increasing our token’s utilities. Also, we move closer to the community, doing AMA for an instance, to share our vision, and approach different publishers or creators, proving to them that we don’t use the game only to advertise but bring them a whole ecosystem.
Q4: As far as I know, Advertising or marketing work is really important in this industry. What kind of advertising strategy will you implement in the coming period?
About Advertising strategy, we are actively reaching out:
- Do AMA to get in touch with different communities,
- Present in different blockchain conferences or events,
- Partnership with other potential GameFi projects to cross-community.
Q5: Where do you see the LFW Ecosystem being in the next 3 months/ 1 year.
In the next 3 months or 6 months, we’ll keep maintaining and checking fundamental issues on the smart contract. Then we’re gonna support other studios to publish the game in our ecosystem, contribute to our vision of building a GameHub.
Q6: Will you and your team plan to launch the game on ios/android? I think many will be interested and play this amazing game if you do so.
Needed to say, publishing our game on an application is not that much difficult for our studio. But the thing is, dealing with the regulations/policies from Apple or Google is what we are concerned about.
Our team is working on finding the solutions not only to launch Legend of Fantasy War on mobile app but how to use that technology to share with other projects.
Q7: Many users are concerned about the issue of transaction fees. What are the fees for transacting\cross-chain on $LFW? Will there be an additional fee for $LFW?
When you make a token swap (trade) on the exchange you will pay a 0.22% trading fee (more resonable than other platforms), which is broken down as follows:
0.17% - Returned to liquidity pools in the form of a trading fee reward for liquidity providers.
0.05% - Sent to the LFW Treasury to buy back LFW and burn. (https://docs.lfw.finance/product/swap)
Fees for transacting cross-chain are not finalized yet.
Host: So we have been through a lot of questions today, and I know that there are still tons of questions from our community all over the world. So before closing our live session today, may I ask you to share some final words with our community and our users.
I would like to send my appreciation to our communities, investors, and also our staff from Fantasy Legend LLC. We are here to believe in the future of GameFi, Metaverse, and Web3.0. Together we will make it happens! Thank you for coming to this AMA with us. I greatly appreciate it. See you next time!
Check the winners list HERE
About Legend of Fantasy War
Legend of Fantasy War is a unique 3D turn-based role-playing online blockchain game. By blockchainizing in-game items, the game provides players ownership of in-game items by owning so-called Non-Fungible Token (NFT). With an engaging storyline, players can both entertain themselves and collect valuable items, even increase the value of items while playing games solo or with others. $LFW holders can sell, exchange, and auction transparently on the Legend of Fantasy War NFT marketplace. One of the strengths of the game is the nature of the community. Thus, the game offers a fantastic mechanism that the player and their friends can enjoy the rewards together forever. In short, the game is easy to play and collect valuable items.
About LFW Ecosystem
LFW Ecosystem — formerly known as Legend of Fantasy War, consisting of LFW Game Hub and Linked Finance World (DEX/ Launchpad).