Atocha Protocol AMA RECAP
Hello Everyone ! Welcome to our 17th AMA (Ask Me Anything) with Atocha. On 20 of April 2022, CryptoSpartans had a live AMA session with Kim Zhao Wei . In case you missed it here is the recap.
Segment 1: Questions for Atocha Team
Segment 2: Twitter Round Question
Segment 3: Live Q&A.
The transcript has been edited for clarity.
Segment 1: Questions for Atocha Team
Priyank Gupta l HOST
- Can you please introduce Atocha Protocol to the community ?
Kim l Atocha.
Atocha Protocol is an application specific blockchain AKA appchain. We build this appchain for the puzzle game community where users can create, solve and even sponsor puzzle games.
So now, you can look forward for our mainnet to launch and integrated with the Webapp where you can experience first hand how all these mechnism can work.
Lucifer Morningstar l HOST
2. What is the USP for Atocha Protocol to stand out in the GameFi space?
Kim l Atocha
Most Gamefi are in-house built and not open source projects. On the other hand, Atocha Protocol is actually an open-source platform for puzzle game builders to get on board to build.
Of course, our team will also focus on several puzzle game projects to build as it is important for us to prove the functionality to the other builders. From the game developer’s point of view, one can easily integrate with the protocol without any extra cost to hire blockchain developers.
From a gamer’s point of view, the protocol ensures transparency and fairness in a decentralized manner. From a community point of view, all of the token holders will get to benefit from the growth of the ecosystem when everyone is helping each other to grow by not only just playing the game but promoting or building.
Priyank Gupta l HOST.
3. Why did Atocha Protocol choose a puzzle game ?
Kim l Atocha
The first and obvious reason is the team itself consists of four puzzle game enthusiasts that like an array of puzzle games like riddle solving, treasure hunting, chess game, sudoku and word puzzles.
The next reason is that, puzzle game is an evergreen game format where the logic can be the same but the puzzle can be redesigned with different theme and story line. This is how versatile puzzle game is which is good to adapt to different trends that we might be experiencing in the future.
Moreover, puzzle game can range from light weight puzzle game like Wordle, a simple word guessing game which you can easily complete it under 5 minutes. On the other end, there can be super hard treasure hunting game with like $1million USD worth of treasure as the final prize, players spend years to crack the puzzle.
This is the fun we are looking at as Atocha Protocol wants to cater to the whole spectrum of puzzle game in stages.
Segment 2: Twitter Round Question:
1. @shubanand21 : Apart from Puzzle games, are other games will available in future on Atocha?
Kim l Atocha
Before asking this question, I think it is fair that you understand the magnitude of the market size of puzzle games alone. In 2022, it is projected that this segment could generate a $22 billion USD revenue and have a projected annual growth (CAGR 2022–2026) to be 9%. With that being said, by 2026, the puzzle game market will generate $36billion USD revenue and take around 7–9% of the total market share of the gaming industry.
Our initial planning for the puzzle game is the basic question and answer, quiz-like format. Something that can be compared with Kahoot and Quizziz. In the coming development of more puzzle games, you can expect story-based, adventurous treasure hunting puzzle games, number puzzle games, logic puzzle games, cipher puzzle games, geolocation puzzle games, etc. to be developed on the protocol. For us, focusing the puzzle game niche which is equally intellectually challenging is the core of Atocha.
2. @Crypto_suman : Our market is filled with a wide range of gaming platform now. But the major disadvantage is that after playing for hours we are left with in-game rewards with no real world monitory value. So will Atocha address this problem, and what solutions will you provide?
Kim l Atocha
A good question that we already have tokenomics and game mechanism in place to prevent this to happen. First of all, the reward that you will be earning is ATO coin which is the native token for Atocha Protocol.
In other words, you can trade ATO on DEFI like Ref Finance that have liquidity pool created by the team. Furthermore, you can earn Atocha Points which is a reputation score system that is set for the ecosystem users. By playing and creating puzzle on Atocha, you can earn Atocha Points that can raise your ranking while you are able to claim ATO with AP. Another great point is that, all the puzzle game that will be integrated with Atocha Protocol will be utilizing ATO and Atocha Points. That makes the token to be able to use inter-games.
3. @prestigee001 : What is the difference between building on NEARProtocol and building on octopus network? What advantages does building an Appchain has over Dapp as most project building on octopus network are called Appchains.
Kim l Atocha
First, you need to understand that Octopus Network is a sidechain of Near Protocol. Octopus Network is a multichain network that is built for launching and running Web3.0 application specific blockchains, AKA appchains.
The advantage of choosing to become an appchain than a Dapps is that an appchain is able to customize our own governance structure, economic design and underlying consensus algorithm. On the contrary, Dapp needs to be dependable on the consensus and governance structure of the Layer 1 network that it is hosting. In addition, any puzzle game Dapps that are on Ethereum or other chains could choose to hop onto Atocha Protocol and run with lower fees required and better compatibility for puzzle game genre Dapps.
4. @abdul_rang17 : I Found Name Atocha Very Astonishing & many people might know the Backend Story of the Name (Atocha) & Even Fewer Would ask. So can you please tell us how did You came up with this Name? What other names options team Had ?
Kim l Atocha
We literally have no second option for a name and straight for Atocha. If you Googled Atocha Treasure, you will know that Nuestra Señora de Atocha was a Spanish treasure galleon and the most widely known vessel of a fleet of ships that sank in a hurricane off the Florida Keys in 1622. The reason we opt for the name is that treasure hunting in itself is the adventure that we want to bring to the community. Hence, a puzzle game is a way that can represent the treasure hunt the best (which treasure hunting IS a puzzle game).
5. @R2Tiberiu : What makes @AtochaProtocol more attractive to investors than other protocols on the market?
Kim l Atocha
Well, I think we can’t compare directly to other protocols as the application for each protocol is different, which means the value proposition and the targetted users are totally different demography. Plus, to be attractive to investors, there can be many aspects that can be looked into.
Let me just highlight three points:
The versatility of puzzle game
The creator & player-centric protocol
The competitive infrastructure to launch and run puzzle game
The versatility of puzzle game is like what I have mentioned in the previous question on why we choose puzzle game. Meaning that puzzle game is basically an intellectually challenging game module that can fit into any story and transcends time. That is why we think that it is a sustainable module to go for as it will never gets old.
The creator and player-centric protocol means that there is no ‘staking mechanism’ for the ATO coin holder. However, the new mechanism that we introduce is through participation of puzzle game whether through solving or creating. By participating, you will earn Atocha Points that can prevent your holding to get diluted by the 10% max capped annual inflation that the Atocha tokenomics will take place.
As for competitive infrastructure for launch and running puzzle game. You can imagine that we are an incubator and platform for puzzle game developers. Any puzzle game creators that intend to launch their Web3.0 puzzle game dapps can hop on to Atocha and launch their game without needing to develop whole new function specific pallets or smart contract to execute different functions for their game on chain. While they can solely focus on their content of the puzzle and the architecture of the puzzle itself. It save up a lot of time and cost for the game developers and will eventually promote more to get onboard.
Segment 3: Live Q&A
Q1. @HELLOBYE_09 : Which do you think is more Important:
B. Investors and
C. Token Price
If all of The above is important to You, Whiich Should Come First?
Ans : Ah, this is a good one.
Definitely Community First. Period. The reason is simple, what we are building, the protocol is to enable the community to create and solve puzzle in a decentralized, trustless manner. Moreover, the protocol will also empower the creator economy through the sponsor mechanism where creators can take the opportunity to offer their creativity to serve the brands and company that intend to advertise through puzzle game.
Our belief is, as long as we can deliver value for the community, do good and do well, investors and price will follow.
Q2. @tomoj : What plans does the project have to attract traditional gamers to the blockchain gaming market? Because currently the blockchain game model is still too new for users to reach, besides that the graphics and game content are also less attractive. How did you and your team handle this situation?
Ans : Nice. This is actually what the core team is currently working on.
We are in search for existing indie game developers that have their own published puzzle game which are in HTML5. We have already build a procedure to onboard the HTML5 puzzle game just by plugging in to our protocol. The developer will just need to focus on their game development and does not need to worry about anything that is related to the protocol.
On the other hand, players will not feel alienated with HTML5 games as this is what we are familiar with. Thus, this is how we intend to scale through onboarding of traditional Web2 puzzle games.
Q3. @Sallubtc : Are you afraid some day there will be another project with more innovative technology can replace your project ?
Ans : Realistic question that caught my attention.
To be honest, I am not afraid. Why? Just like any other businesses, the team has to build business moats to strengthen the position of the project itself. Technology will definitely be improving in a spectacular speed which we may not catch up fast enough in some sense. However, a successful project is also about bridging users to fit their needs. What I always believe that, there should be a core that we always stick to which in turn will ensure we are always staying at the competitive edge and in a blue ocean. In short, the core we always believe is to inspire your curiousity. As long as the feature can trigger people’s curiousity, to find out more, to explore, to play, then it is our duty to continue develop through that direction. As long as we serve the community right, we are confident that we will not be easily replaced.
Q4. @Mapotter : Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
Ans : Haha, this one is funny but truthful.
We don’t promise magic and we do the ground work. Working product, YES as we are launching our mainnet and Webapp pretty soon. Mainnet expected to be around end of April and Webapp by end of May. In other word, you can already experience and be part of the economics of the ecosystem.
As for revenue, this will be our challenge as we have multiple revenue streams designed in place. There is one that we will be focusing on which is the sponsor mechanism. By bringing brands and companies that intending to use puzzle game as part of their marketing strategy, the revenue (sponsor fund) will be a fresh fund that is injected into the ecosystem of Atocha. This is a healthy way to create a sustainable business model for a project. So this is what differentiate Atocha with other projects that only focus on the pitch.
Q5. @Susieswank55 : How does project increase the token’s value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term ?
Ans : I will take this one as it is relevant to all of the enthusiastic investors that may want to participate in our upcoming IDO which will be happening on 9 May (NearPad) and 11 May (Skyward Finance).
Let me just give you simple equation that you can gauge on how good will Atocha perform.
1. Total value of sponsor funds locked in prize pool
2. Total active players
3. Total active creators
4. Total revenue generated per puzzle game
By looking at these four parameters, you can easily gauge the growth of Atocha and understand how valuable ATO can be. For example, the more ATO locked in prize pool is a squeeze in supply as it will become a shortage of ATO if more active players and creators get onboard. On the other hand, the more revenue generated by any puzzle games, the more taxation fee will be generated for Atocha treasury.
Thank you everyone once again for participating in this exciting community AMA! It was our pleasure to host AMA with Atocha Protocol