Yesterday, 17.5.2018 we hosted an AMA (ask me anything) with Gamedex Co-Founder & CTO Cameron Garvie.
Official website: www.gamedex.co
Q: Welcome Cameron, could you introduce yourself and the project your representing?
A: Hi everyone. Very excited to answer any questions you may have about Gamedex.
Together with our team, we’re building Gamedex, a platform like Steam, for the billion-dollar digital collectible card games (DCCGs) market, and a wallet for the digital collectibles that these games use. We (and our advisors) are from Twitch, Sony, PlayStation, Facebook, Topps, Pokemon, SelfKey, UBS, Deutsche Bank, Blizzard, EA Games, Microsoft/Xbox, etc. We’ve also got a few partnerships that are in late-stage talks that I think are very exciting.
Blockchain is desperately needed by this space, and will massively grow it, because of the way it allows for (1) true ownership, and (2) true rarity. When digital cards can be truly rare and truly owned, they will become much, much, much more valuable. Collectible baseball cards have sold for as much as 3.5 million USD each and there’s no reason a digital Pikachu couldn’t be worth much more.
We’re not really in the business of making games. We’re building a platform/ecosystem/SDK/libraries/WYSIWYGs/etc to allow existing companies and indie game devs to implement blockchain without paying 200k USD/year for a blockchain engineer.
Q: Multiple questions around games like Magic, Yu-Gi-Oh and Hearthstone and also EA Sports and FIFA.
Yu-Gi-Oh definitely counts, although I’m not sure if they’ve made a fully digital version yet? Essentially all of the traditional print card companies have failed to make the digital leap. Hearthstone is a great one— but you’ll notice that they don’t actually let you own the cards. Their whole revenue model is dependent on preventing the existence of a secondary market. Ultimately gamers will be demanding true ownership and they’ll have to figure out another way to make money.
Even in Fifa, one of the most popular games in the world, the most popular game mode is Ultimate Team, which is essentially a card game. There’s been a surprising resurgence of card games and board games that i think is related to the rise of casual gaming.
And a lot of people spend 4+ waking hours a day playing games. They deserve to have more control over their digital lives than to just get banned and lose everything they have worked for.
WOW players are a good example. They really deserve to have true ownership. And also if true ownership was possible, and prices of game assets rose due to that and their true scarcity, people could make an actual living by mining WOW gold (well, they already can, but a much better one).
Will you focus more on bringing game or sport collectibles to your platform?
A: This is a big business. Standard startup advice is to dominate a small market before going after the larger one, so we’re focused on DCCGs for now, but eventually you could see us operating more broadly.
Personally I believe that long-term the stuff like Magic/Pokemon/YuGiOh/Gwent/etc is more likely to be popular. I also believe that the platform may become a popular home for third-party gambling applications due to its decentralized nature. But we chose our pilot project (fantasy sports where you build your team out of cards and then win or lose GDX tokens based on real-world player performance) because it demonstrates the whole platform from cards to tokens so nicely, and because fantasy sports games are easy to build (again, we aren’t primarily a game dev company).
Q: How far are you with the development? When are you launching?
A: MVP will be on web, desktop, and in both mobile app stores in about 4.5 weeks. 3 weeks later it will actually be connected to the blockchain. This is on Ethereum for now but we are also considering EOS depending on their VC program.
The vast majority of action happens offchain in Gamedex, just like it does in Coinbase. This is optional (and up to the players and game devs) but realistically this is how stuff will be done for a while until scaling issues are resolved.
Q: What will you be doing marketing-wise and how will you get visibility in this space (Token Sale and Gaming Space)?
A: TOKEN SALE: All three of our co-founders have backgrounds making millions of dollars with performance-based marketing. One of our co-founders did the marketing for a $50mm ICO which sold out and another helped out with SelfKey which sold out in 10 minutes. I guess that makes me the odd one out!
GAMEDEX PLATFORM: Fiverr bought ads for a long time, and probably still does, advertising specific gigs instead of Fiverr.com. I imagine our journey will be quite similar (advertise the Games and cards, not the platform), but it’s quite early to tell. We are pretty busy dealing with the token sale and the MVP development so this question will be dealt with when the time comes.
The cool thing about Gamedex is that people won’t need to care about Gamedex or understand blockchain to use it. They can buy some GDX tokens in-store with cash and then just play their favorite games.Like how people who play Counter-trike don’t care about Steam or the Source engine.
Blockchain is desperately needed by this space, and will massively grow it, because of the way it allows for (1) true ownership, and (2) true rarity.
Q: What about the competition? As far as gaming related tokens go there are Enjin, Abyss, Gamecredits, Game, Skincoin just to name a few and let’s not forget the notorious Cryptokitties.
A: There’s maybe 10-15 projects like ENJIN. We are primarily focused on dominating the DCCG space and the pure-collectibles space. For example, traditionally, collectible baseball cards aren’t used in any ‘games’ (pure collectibles), and it would be silly to call Hearthstone cards in-game items when literally the entire game is built out of them (DCCGs). Also none of these other projects are building a game browser/client like Steam. There is very weak integration with the games.
There is no one else building a platform for the billion-dollar DCCG space. I purchased a lot of Enjin with some close friends. I think it’s a great project. There will probably be some overlap as we are very close to their marketers.
Cryptokitties is a very cool project. Just a game though, not a platform. We are currently looking to fund any qualified dev team that has the vision to create this generation’s version of Tamagotchi on Gamedex — imagine a CryptoKitty that you can feed and play with and which can play with other cats.
Q: Your Team looks really qualified, altough it seems like you all left these huge Tier-1 companies. Are you still in good relations?
A: Yeah I think everyone is on great terms with the companies they left.
Q: What are the Soft and Hard Caps for your project?
Soft Cap = 10mm USD
Hard Cap = 25mm USD
~50% of funds and tokens are for partnerships, bounties, and grants.
First developer who builds a popular game whose cards are traded with a monthly volume > 1mm USD for 3 months gets a 1,000,000 USD bounty, (hypothetical example of a bounty).
Q: Why do you think you will succeed? What makes the team special?
A: Please check the team’s Linkedins to see their positions. Michael literally helped create the original Xbox. Having said that, a huge part of success in business is simply being first. Right time, right place. I know this from personally both succeeding and failing by being on both sides of that.
Q: Have you hit all roadmap targets till now? And how does it look-like for future targets?
A: I reckon we’ve been delayed for 4 weeks total over the past 5 months due to delays with partner companies and just the generally slow nature of VCs. Future targets look better as funding commitments are streaming in nicely and as the next four months are mostly raising. Delays are still possible though but they are baked into the timeline.
Q: So people will be able to buy GDX tokens in your store but the price will still depend on exchanges (supply / demand) right?
A:Yes, GDX will be able to be purchased in physical stores with cash. Same with digital cards. This is possible via scratch off QR codes.
You pay $20 at the register and we hold onto that fiat. When you claim the scratch off code in Gamedex, we then use that $20 to purchase GDX at market rates. So you should wait until you want to use the money to avoid price fluctuations. It’s similar to how Steam cash is sold at some Walmart locations. Great for teens and developing countries too. It’s a very exciting innovation we think will bring more mainstream blockchain.
Q: Do you also have a token burning model in place?
A: Yes we have buy backs and burns in place. You can read more about it in the WP.
Q: In your whitepaper it says: “Significant effort and funds will be dedicated to getting GDX tokens listed on third-party exchanges”. Are you reserving any funds for top volume exchanges?
A: In our mind, the listing fees charged by exchanges such as Binance are worth paying. Especially if you can get a deal by accepting BNB in your ICO or another form of cooperation. But even if there was no discount, it is something we would deem worth the cost.
Q: Cameron it was great having you with us, just one last question and wrap up. How much time until angel round closes?
A: We have investor presentations in BKK, SG, and HK coming up and that should wrap up the round, so i imagine by June 7th.
Thanks, everyone, it’s been fun! I appreciate all your enthusiasm. Join our telegram and sign up to our mailing list at gamedex.co if you’d like to participate in the airdrop.