REVV AMA Recap
The REVV token is an ERC-20 utility token that acts as the main currency for a number of game dApps developed by Animoca Brands.
This AMA allowed users to connect with REVV Founder and chairman of Animoca Brands Yat Siu, VP Engineering & Head of Blockchain Development Nathan Sala and Product Lead F1 Delta Time Sean Dudley, who answered the questions and listened to the feedback.
I’m Yat Siu. I am the Chairman and Co-Founder of Animoca Brands a company that was recently named one of the top 5 blockchain gaming companies. I personally have been in the tech, internet and gaming industry since the 80’s starting with Atari and then I set up one of Hong Kong’s first internet service providers in the 90’s, was part of the team that brought VRML to market with SGI and before going back into the gaming roots Animoca Brands started a cloud email service business that was acquired by IBM in 2009 (Outblaze). Animoca Brands today is a gaming company and got into blockchain and crypto gaming through its involvement with Cryptokitties in early 2018 and also became one of the earliest investors in Dapper Labs (known for Cryptokitties and the FLOW token) Animoca Brands is also the company behind THE SANDBOX which listed SAND on Binance first a few months ago.
I’m Nathan. I’m a technologist with a background in engineering, investment banking, Web, gaming and blockchain. I have been into the blockchain space for several years since Bitcoin. I am responsible for the architecture of REVV and its associated projects.
I’m Sean, I’m the product lead for REVV, F1 Delta Time and the upcoming MotoGP game. I’ve spent over 15 years making games, and the last 2.5 heavily invested in doing the same, but with blockchain as the core technology. A key idea with REVV is to allow it to connect an ecosystem, which is something unique to blockchain. We’ve always built games, but not before in a way that allows them to be so innately linked. When social and multiplayer allow players to be connected in the same game, REVV allows the same, but across multiple games instead.
Question from the CryptoRank team
#1. Could you please tell us more about yourself and your experiences? What is your background and how did you come to the idea to create the REVV token?
Yat Siu: – The idea behind REVV was to combine the power of famous motorsports like F1 and MotoGP to develop a play to earn gaming ecosystem where players could truly own their own assets and actually derive value and income from it and we are happy to say that it is really started to develop now. We chose to first work with F1 because it has 1.9 billion viewers and approx. 500 million fans, many of them who understand money and value which we thought was the right mix of introducing gaming and blockchain when we first started work on it over a 1.5 years ago.
Questions from Twitter
#2. Staking is the new trend. What staking options are available for REVV token? Are there any incentives for staking? What are the various ways to earn REVV token and are there any limits to amount of REVV i can earn?
Sean: – Since the launch of F1 Delta Time NFT Car staking – which has already paid out 2,020,000 REVV to NFT owners over 4 weeks, we’ve also launched similar initiatives that leverage REVV staking. One is ongoing right now with the Elite Time Trial, where the best performing players not only get a chance to receive from a REVV prize pool, but also a yield on their REVV stake.
At just now, we’ve released our latest REVV related staking and liquidity mining initiative with the newly announced Gamee Token. Where players provide liquidity, stake LP tokens, and receive Gamee Token NFTs and a REVV yield, too: https://revv-token.medium.com/introducing-gamee-token-liquidity-mining-event-16-oct-14-nov-2020-a71a901637fd
#3. Why have you chosen gaming as an initial focus for REVV? How does that specific use case demonstrate the unique value proposition of the platform?
Yat Siu: – The reason we chose gaming is because the intersection of blockchain and gaming is perfect. 2.6 billion people play games and all of them understand virtual currency and virtual assets because they spend time on these every day anyway. However people who play games do not own their asset they spend all this time playing games, spending money but can make no earnings from it only the video game company makes money in this model. This model makes 150 billion USD a year, bigger than music and film combined! Imagine if we take that industry and turn the game assets into real assets through blockchain. That is why we think blockchain and gaming is a perfect intersection, we do not need to explain to players why you should spend on virtual currency, they do it already!
#4. How the data (like time trial competition) is collected to determine who wins or loses? How fair and safe is this system?
Nathan: – The question of “fair and safe” game is a huge one for anything related to blockchain. And the answers here can be tricky. For example, it is a common misconception that blockchain automatically brings security for randomness, while it can be in fact dangerous to have on-chain randomness if not done properly (front-running attacks). The design of the game elements of F1 Delta Time lead us to opt for off-chain computation, basically secured on our servers, for different reasons such as security as well as gas-savings for users.
For the case of the Time Trial, the results are computed according to hidden track stats that players will be able to guess and discover while customising their team composition and doing some tries on a weekly basis. To answer the data question, we collect minimal information about the users: mostly user wallets and NFTs compositions. For the next versions and for the Grand Prix (the 3D game), the approach will be similar, but there will be an additional layer of smart-contract services which will automate the core economy loops.
CryptoRank community questions
#5. Being a Track Ownership is a great idea in the ecosystem. But are these tracks designed by REVV or can the community participate in creating tracks?
Sean: – For F1 Delta Time, all of the tracks will be taken from the official Formula 1 season. The first track sale is on course to begin in the coming weeks, near the first release of the racing game itself.
#6. Your project has been great, but as an investor, we’re always concerned about the loss of hackers. So Injective has any mode to help users like me more secure
Nathan: –Security is constantly one of our primary concerns. We are taking all the measures to keep hacks from happening: rigorous internal processes as well as external audits for the code of our smart contracts. The risk is never zero, of course, but we do the most.
Please find our latest audit reports:
– REVV: https://github.com/animocabrands/f1dt-ethereum-contracts/blob/master/contracts/token/ERC20/Animoca_REVV_Token_CertiK_Report_07_22_2020.pdf
– NFT Staking: https://github.com/animocabrands/f1dt-ethereum-contracts/blob/master/contracts/staking/Animoca_NFT_Staking_CertiK_Report.pdf
#7. What do you think about using NFTs in games like GranTurismo? Is Revv planning do partership with other racing games?
Yat Siu: – Yes we are going to making NFT’s in other games and will announce them when they are ready to do so, please pay attention to this space. We have a long history as a games company of working with famous brands and IP!