November 26-th held an Ask Me Anything session at ICO Speaks telegram chat. From the The Pit side there was:
👨💻 Hewie Rattray | Co-founder | @kiyocap
👨💻 Tommy | co-founder| @Tminus2
Let’s get started!
Q:What is the motivation behind the project?
A: We wanted to create something to make the best use of NFT technology and develop a new kind of utility for NFTs. In our case we believe we can recreate a fun Colosseum type battle royale.
Q: What are the objectives of THE PIT?
A: We are all gamers and all love the genre of simulation based games that draw on the imagination. The objective of THE PIT was to establish a crossover between this kind of established genre and the emerging NFT videogame genre. 🙏
Q: What is the allure of the project?
A: Well, I think the Play-2-Win aspect is a big draw as well as the prizepools that we are offering. But also we are essentially a genesis project so there are huge plans for the future. Our roadmap details just a few of these.
Q: How do you differentiate yourselves from other metaverse projects?
A: So rather a fully functional metaverse with plots of land etc we are more like a gaming metaverse, in that we want to act as a platform to support not only our community but others too, for example in the short term we will be partnering with other NFT projects which will allow them to enter their NFT’s into The Pit. We like to think of ourselves to be more like a blockchain version of MiniClip or Steam, in that we will be running/hosting multiple different games in the future, The Pit is just the first of many.
Q: What do you think the future holds for NFTs and NFT gaming?
A: It’s totally disruptive to the current gaming industry. Right now you buy a copy of a AAA game title and you are never sure if that game is going to be a success and you no personal stake in it. NFT gaming basically opens up the ownership of games to the community. Like BTC decentalizes the financial system, NFTs can potential do the same with the gaming industry. This is why Steam has banned NFT games and we haven’t even touched on the royalties aspect yet.
Q:Your roadmap mentions cross-community collaboration, what does this mean and how do you intend to follow through with this? What does this mean long term?
A: So when we decided to build The Pit – we really had it in mind that we wanted to contribute to the NFT community in a meaningful way, this meant opening it up to everyone ultimately. Like i said earlier if BAYC or Cool Cats wanted to fight in The Pit we can easily interact with their smart contracts and make it so. Long term we want to bring in everyone though, not just the blue chips and we have the in house talent to build out these games in a bespoke format so projects can request specifically formatted games etc.
Q: What are you proud of with regards to THE PIT? What do you want THE PIT to be known for?
A: I am proud of sourcing independent art and giving something back to a community in which I have become so invested. We also want to integrate this into our future models going forward so that as we grow we can also prompt community growth. 🙏
Q: There’s a lot of money backing this project, do you intend to continue this heavy investment approach in future seasons of THE PIT?
A: We want to incentivize early adopters during our open beta period, these people will be the foundation of our project. I guess in no small terms that you could rightfully call yourself a “co-founder” if you get involved during our first mint. We plan to funnel a substantial amount of our earnings back into the game so we can develop our roadmap in the future. We are trying to become self-sufficient with the establishment of an in-game token called “PITcoin” (no prizes for guessing inspiration here!) as well as other revenue models.
Q: Staking NFT is a new hype. Can you please tell if this feature will be available on your project?
A: This is 100% something we want to do, it’s on our roadmap under wagering. 🙏
Q: Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable
A: We are auditing our token which is why it isn’t being launched concurrently with our NFT. 🙏
Q: Where can I currently buy your Token. What are Your current contract address? And How can I buy them. Is it available on any exchange and what are the benefits?
A: We are going to airdrop them post-beta to NFT owners that participate in the 100eth prizepool tournaments and active community members. 🙏
Q: Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
A: Its actually super easy for people to participate, you just mint an nft from our website then check the tournament schedule, once you find a tournament you are elgibilbe for come back to our website, connect your wallet and press enter, then watch as battle commences.
Q: What is the role of token in the ecosystem? Where can people currently buy it?what would be its used??
A: Available via airdrop post-beta. We will then develop utility for the token within our platform (taxing, staking, minting,, purchasing metaverse items, etc) 🙏
Q: Can you explain the background of your team? How will you and your team carry out this project during this current pandemic????
A: I have been investing in crypto since 2013, in 2016 i helped launch KR1 which is one of the most well respected digital asset investment firms globally. In 2017 i was a founding investor in Argo Blockchain which is a Nasdaq Listed BTC Miner.
Q: Is your platform suitable for crypto beginners? Or does it only limited for professional users ?
A: After Beta, tokens will be earned from winning PIT battles, stake-rewards, and sports-like betting.
Well we would like to think that it is very accessible (our white paper details all that you need to know to play). You do not to be a seasoned crypto investor, you only need a MetaMask wallet and a bit of ETH. Even if you don’t we would love to invite you to our community! Season 2 will definitely be even more accessible to a casual audience🙏
Q: Is your project a local or a global Project, How many non’-English Speakers do you have,? Can People use your SERVICE from anywhere in the World?
A: we are a very diverse team, we are vietnamese, iranian, taiwanese and british
Q: Do you have any YouTube channel. Or website for this project..? where we can learn something this project..?
A: Yep, thepitnft.com (there will be a lot of changes in the coming week on this!) 🙏
Q: Is your project a local or a global Project, How many non’-English Speakers do you have,? Can People use your SERVICE from anywhere in the World,??
A: Yes, our team alone has half a dozen languages between them alone. THE PIT will be available anywhere and to anyone. 🙏
Q: How do you plan to move your PIT project forward from other projects? And what is the goal of your project?
A: We are unique with respect to the P2W feature this encourages competition. We want to be unique insomuch that we are a project that enables others to access our ecosystem (tokens, hosting, gameplay, p2p wagering and much more).🙏
ICOSpeaks hosted an AMA Session with The Pit Team. That’s all for today.
Thanks to all users who participated.
Thanks, The Pit for being with us
Thanks, all and see you soon😉
Cheers 🥂
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