August 27-th held an Ask Me Anything session at ICO Speaks telegram chat. From theOkLetsPlay there was:
Russ Aleksy : @Russ_OkLetsPlay Sure. I’m the founder, CEO of OkLetsPlay which is a patented built, market ready real money esports tournament platform for skill-based PC, mobile and console video games. It’s good to e-meet you all!
Richard Coughlan : @RichardCoughlan
And I am head of communications. Excited to get the message out about this groundbreaking project.
Let’s get started! Q: Built, Tried, and Tested: Can you tell me why, as a company, you chose to deliver a ready to-market product unlike other projects? A: OkLetsPlay was conceptualized from personal wants to spice up gaming between friends and family. After going out into the market we came across another real money esports tournament platform Skillz and simply didn’t like the user experience or the user interface. Being frustrated that there wasn’t a good streamlined solution we set out to make one.
After reviewing patented IP in the space we realized that there is an excellent opportunity to fence off what we believe to the optimal player and developer experience with an out-of-game non-embedded peer wagering module. So we wrote a full utility patent, partnered up with a top IP firm to make sure the i’s were dotted and t’s were crossed, got it filed and approved.
We now have a patent portfolio around the out-of-game non-embedded peer wagering module. From there we built a mobile MVP then pivoted to making ourselves an Overwolf app as Overwolf and Intel enticed us with a developer grant to build on their platform. Ultimately being an Overwolf app carried too much user acquisition friction and Overwolf wasn’t able to provide us with suitable tech support so made ourselves into a web app and native mobile apps… which brings us to where we are today.
So to answer your question directly, the OkLetsPlay platform was conceptualized and built to create a new optimized player and developer experience in mind. This was our interest and focus from day one!
Minting a token and conducting a token sale was never a priority / focus of ours as the OkLetsPlay IP and experience was / is going to be built regardless.
Minting and incorporating a token into the platform simply enhances the player experience in several areas from wallet / token ownership, reduced third party fees when adding / withdrawing funds, reduced match and platform fees, win multipliers, boosted player profiles and open match listings as well allows the platform to give players monetary value for simply engaging i.e. a token drip for grinding, playing in matches and tournaments so you don’t have to win to earn LBC tokens.
Q: Does OLP have any unique Intellectual property?
A: Yes, OkLetsPlay holds a published patent and portfolio of IP (continuation applications) and PCT filings for it’s Peer Wagering Module patent portfolio:
Patent title:
Method, device, and computer-readable medium for wagering on a skills-based digital gaming competition with an out-of-game peer wagering module.
Method, device, and computer-readable medium for wagering on a skills-based digital gaming competition with an out- of-game peer wagering module that is external and distinct from at least one game stored on the storage device or another storage device, the method including: receiving potential game and competitor player data; receiving game competition selection information from the player that includes at least one selected game instance and at least one bet amount; receiving game instance match ID data generated by the transactional server, wherein the game instance match ID data includes at least one of: credential data associated with the player, player bet amount or a board, level, or difficulty setting associated with title selected game instance; and transmitting the game instance match ID data and game initiation data to the game, thereby activating the at least one selected game instance on the computing device.
The great thing which we’ve done is keep our patent application alive i.e. a living patent which allows us to build / expand off of the parent patent application.
In short what the patent IP portfolio is… is an out-of-game non-embedded peer module (application / platform) that is 100% independent outside of the third-party games which it support therefore there is no wagering/betting functionality or UI embedded in the game itself thus game devs can serve up real money tournmanets and PvP matches on their games without impacting the non-eligible player community all while not having to lift a finger as OkLetsPlay handles 100% of the real money tournament / PvP functionality, player support eеc.
Q: What types of games, platforms and player experiences does OkLetsPlay support?
A: As mentioned OkLetsPlay (OLP) is a patented real money esports tournament platform for competitive and casual PC, mobile and console video games.
We’re highly scalable, highly configurable esports platform for players, game developers, tournament organizers, brands and communities alike.
We support most game types and player experience from the noob taking a bathroom break or sitting on the bus wanting to player some hyper-casual games like chess, hopper, puzzle, bubble shooter etc. for cash money and the hardcore competitive esports players and team who are wanting AAA title support on games like League of Legends. In the past (beta) we supported League of Legends, CS:GO and Rocket League with our robust pro-level tournament formats.
Our tech is platform agnostic; we support asynchronous, synchronous, single player, multi-player and teams, leaderboards and pro-level multi-day tournament formats with single or double elimination, best of series that have anywhere from 8 – 256 teams with 5 players per team
Q: Could you give our audience a sense of how big the Esport gaming industry is and what role OkLetsPlay plays in it? A: So this is a tough questions. There are stats out there that range as one needs to look what their definition of esports is… I personally believe these numbers are low when considering the non-pro level esports touraments going on out there however here are some stats that we’ve come across
In 2021, the global eSports market was valued at just over 1.08 billion U.S. dollars, an almost 50 percent increase from the previous year. Additionally, the eSports industry’s global market revenue was forecast to grow to as much as 1.62 billion U.S. dollars in 2024. Asia and North America currently represent the largest eSports markets in terms of revenue, with China alone accounting for almost one fifth of the market. Mobile gaming is already bigger than the console and PC gaming markets combined, contributing nearly 57% of the $173bn global video games revenue in 2020. Worth $98bn in 2020, the mobile gaming market will grow to $272bn by 2030, at a compound annual growth rate (CAGR) of 11% over the period.
OkLetsPlay has a stake in the ground with its patented intellectual property. We see huge growth potential as we gain market share, growing both as we gain a bigger % of the market but also as the market grows.
Q:Why mint a token for the OkLetsPlay ecosystem?
A: By utilizing the LetsBetCoin (LBC) token, players will benefit from reduced fees, faster transaction times, and several in-game perks. However arguably the most important thing from a company standpoint is that a token allows the platform to have a universal currency which players from around the world can utilize and fully own/control. This helps eliminate cross currency stakes on matches as we support 184 countries and territors a token allows a player in the U.K. to wager with a player in Brazil using a token vs mix matching / syncing up fiat exchange rates etc.
Furthermore, LetsBetCoin holder / players will receive discounts on tournament entries, lower platform on PvP matches, win multipliers, boosted player profiles and match listings, and more.
Additionally, the platform will grant exclusive access to token-only tournaments with the utility of LetsBetCoin. The platform will provide users with dual wallets, with options to choose between fiat or cryptocurrency within the OkLetsPlay ecosystem. Of course, opting for the latter will come with several added bonuses on transactions. The LBC token will be listed on both, decentralized and centralized exchanges which will bring the project greater exposure, whilst being easily accessible for traders.
As the OkLetsPlay ecosystem grows, so will the token utility. The token will drive organic market demand simultaneously, attracting not only gaming enthusiasts but also newcomers, to enjoy the benefits of the LBC token.
OkLetsPlay envisions an open, borderless world in which people and machines collaborate and exchange value globally and freely, without gatekeepers or intermediaries. A world in which gaming communities thrive, unconstrained by artificial borders and archaic regulations. LetsBetCoin (LBC) is a key element in achieving that vision.
Q:What utility / uses will the token have?
A: As mentioned above discounted tournament entries, lower platform fees on PvP matches, win multipliers, boosted player profiles and match listings.
Players can also if it’s not clear… use token as a monetary stake to challenge other players in PvP matches, enter tournaments etc.
Q: How will the capital raised from the token sale be used?
A: Full details about the use of funds raised is best viewed on the whitepaper (link below) but this includes things such as Marketing, User Acquisition, Dev, Live Ops, Payroll, Overhead, $ Prizes, In-App Rewards, Game Acquisitions & Integrations,Asset & IP Expansion, Legal IP & Gen. Counsel, License Fees and Taxes.
The important note here is that again the platform is built, market ready and that the vast majority of funds raised through the capital sale are going towards User Acquisition and Game Integrations. We will likely utilize more of the funds raised to support game developers in integrating their games with OkLetsPlay.
Here is an early draft of the whitepaper; updates are bing made however this will give you all a better idea of who we are, what we’re doing and where we are going.
Q: How do game developers integrate OkLetsPlay into their game?
A: OLP’s patented out of game wagering module means that game integration is less work for devs. This means we can onboard new games faster and more cost effectively than the competition, ultimately opening the door for market dominance in the esports gaming arena. As an out-of-game non-embedded extension (gateway if you will) depending on the complexity / depth of the game integration and experience we’re looking to support most games will require only 2-5 developer days to integrate… this is a 2-5 days for a single developer to do the work which revolves around connecting up a few end points with our API. We have built a dev staging environment which allows game devs to onboard / integrate their game approx. 85% of the way, whereupon OkLetsPlay will come in and finish off the last 15% to complete the integration. We also have a full dev integration doc set and provide developers will full technical support either via messaging (hand-off) or performing the work ourselves with their respective games. In the end we’re very easy to work with.
Below are some dev integration notes;
# OkLetsPlay integration Notes
The OkLetsPlay integration requires only server-side changes. The integration doesn’t require any specific third party libraries; it focuses on standardized data formats and RESTful API calls (HTTPS).
## Server-side integration ### From OkLetsPlay -> game
The game back-end will provide OkLetsPlay with an HTTPS endpoint which the OkLetsPlay back-end can use to inform the game of a new match between two players. OkLetsPlay will provide some JSON referencing the player ids, using the relevant platform’s identification (Steam, PSN, etc), involved in the bet. The game back-end will then hold onto this information for when those two players next compete.
#### From game -> OkLetsPlay
The game back-end will use a key, provided by OkLetsPlay, to obtain an authentication token from Auth0 (requires an API call). All API calls to the OkLetsPlay back-end will require this Auth0 token. Upon starting a game between two players which exist in a OkLetsPlay match, the game back-end must make an API call to the OkLetsPlay back-end (formatted as JSON) to mark the match as started. Assuming the call is successful, the game back-end should carry on its normal process. Upon match completion, the game back-end must make an API call to the OkLetsPlay back-end with the match results (again, as JSON).
Q: Are Gambling and Skill-Based Wagering the Same Thing? A: No they are very different.
Definitions:
Gambling is the wagering something of value (“the stakes”) on an event with an uncertain outcome with the intent of winning something of value. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize.
Skill-based wagering. A peer is simply any other person that is on equal standing with another. Skill-based wagering essentially describes the process of two or more peers wagering on a game, on an equal footing, and that the outcome is based on fair skill.
Q: As a fundraising platform, I think security has to be a top priority. What measures and advanced technologies does your Project have to protect the security of users’ assets? A: We take security very seriously. Players go through a robust KYC/AML process when joining the platform to ensure compliance. Partners games remain unaltered, therefore we have no effect or impact on their security in any way. In terms of the coin itself, LetsBetCoin (LBC) is being minted on the Polygon side chain. Polygon chains can use Ethereum, the most secure programmable blockchain in the world, to host and execute any mission-critical component of their logic. This layer is implemented as a set of Ethereum smart contracts, in charge of functions like: Finality/checkpointing, staking, dispute resolving and message relaying.There is also an additional security layer. This is a specialized, non-mandatory layer managing a set of validators that can periodically check the validity of any Polygon chain for a fee. This layer can be implemented as a meta-blockchain that runs in parallel to Ethereum, in charge of functions like: Validator management (like registration/deregistration, rewards, shuffling etc). Q:As a fundraising platform, I think security has to be a top priority. What measures and advanced technologies does your Project have to protect the security of users’ assets? A: Many token offerings are raising money to create a product that does
not yet exist. We are not one of those. The OkLetsPlay platform is a
platform that is BUILT, TRIED and TESTED.
Beta launch saw 9,000 player accounts, over 4,000 PvP matches and
200 tournaments successfully played.
We are are proven, fully automated, battle-tested, highly customizable and scalable
tournament solution.
Q:Without an working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it’s already has an working products or practical usecases?
A: Many token offerings are raising money to create a product that does
not yet exist. We are not one of those. The OkLetsPlay platform is a
platform that is BUILT, TRIED and TESTED.
Beta launch saw 9,000 player accounts, over 4,000 PvP matches and
200 tournaments successfully played.
We are are proven, fully automated, battle-tested, highly customizable and scalable
tournament solution.
Q: Do you have any plans to add Nft’s to your ecosystem as this is the hottest topic in the crypto space? A: Yes we do. We will be adding NFT’s very soon.
ICOSpeaks hosted an AMA Session with the OkLetsPlay Team. That’s all for today.
