AMA RECAP : CRYPTOSCAPE x HIFI
Venue : Crypto Scape
Date :15 July 2021
Time : 04:00 PM UTC.

Guest : Mr. JM ( Founder)
He shared detailed information and his opinions about the project HIFI.

🔴 SEGMENT 1 INTRODUCTION.

Q1 Please introduce yourself and your team to our community and tell your crypto story?

*HiFi Society:
Of course, again please let me thank you for your invitation to Crypto Scape community!!

My name is JM, the project founder. Personally, I come from Silicon Valley and Southern California in the USA. I've been working in tech startups for the past 15 years and playing video games my entire life. I've also developed a focus in building teams and scalable processes, identifying talent and developing talent.

Let me share more about my background....

When I was growing up, I always felt like there should be a way to get rewarded for all the time we spend playing video games.

That time, investment, value, is locked inside the game we were playing. It was always difficult walking away from my favorite Role Playing Game (RPG) where I clocked like 70 hours!

So Blockchain comes along, and I see an opportunity to unlock this value!

This began my process of conceptualizing our product.

I also noticed how on youtube, users would watch videos and at first, they would take down the content if "the youtube police" found something uploaded by someone who wasn't the content creator.

And then they built an incentive structure to help keep users happy by keeping the content up! They used ads and they built this big platform.

So......I thought to myself.....!😳

What if we combined those concepts into a gaming platform, that focused on games that were no longer the newest version. Games that developers have forgotten about because they were released 10-20 years ago. How can we unlock the value for those gaming developers and gaming studios to re-engage their gamers to want to play those games???

And.....so, it started making sense..

We have built a platform that allows blockchain gamers to develop themselves by playing retro games, earn rewards, and are building an ecosystem around this concept, in a way, that brings gaming developers, gamers, and investors together.

Q2 What’s Hi-fi all about explain it along with the usecase and vision?

*HiFi Society:
Yes, I’d love to share and tell the community!

Ok, first, please bookmark this link HiFiGamingSociety.com because it gives a nice introduction on who we are and where we are going....

HiFi Gaming Society is a Play-to-Earn Retro Video Gaming platform and we're building an entire ecosystem for the blockchain gamer to develop a reputation to build stats, eventually compete in contests, and tournaments. There will be additional things we will build like Game Farms, NFT Marketplace and all that but first, we want to build our base around gaming.

I'm going to share a lot here.....

HiFi Gaming Society is the place where you can play games, and earn rewards for doing so...

The product will require users to stake (deposit) tokens onto the platform to activate certain features. Users will stake HIFI tokens to:
1) activate the actual gameplay (PLAY)
2) activate the rewards you can earn for playing games (EARN)
3) and you can buy items and first HiFi branded NFT to boost rewards (BOOST)

As a user, you can earn rewards (more HIFI tokens) by "participating" in the platform. Participation is based on specific criteria:

# Daily Logins
Total Play Time
Plays Per Day
Achievements
Challenges W/L
User Level
Reputation
Amount Staked

As a daily gamer, you earn HIFI rewards that can be claimed every 24 hours for your effort in our ecosystem.

We will incentivize users to focus on these different areas of participation in a competition style.

We already have our beta program members competing on our HIGH SCORE BOARD!

For the blockchain gamer (our core user base), reputation and rankings will become very important!

You want to save the HIFI you earn to enter contests and competitions.The more you play, the more you earn HIFI, the more the HIFI opens up a lifestyle we'll build into the ecosystem for all stakeholders, including investors, traders, players, gamers, viewers, developers, and studios!

Q3 Share in your roadmap and tell the approximate date of when those phases would start?

*HiFi Society:
Yes, let me outline our priorities for your community.

We've come a long way in short while. Although this product was conceptualized around October and a brief proof of concept in February, in retrospect, we started building around 6 months now and quite the evolution the product has taken!

In June we had a very successful IAO where we aimed to raise 500K--1M and it turns out there was so much appetite for the product, 27MM came in!!! We oversubscribed by roughly 5000%.

If you'd like to hear the latest progress updates, we have a process where we provide updates every 1-2 weeks about what we've accomplished, any blockers, and what's coming up. This is Agile. We are developing an agile methodology so we can bring to market and hear feedback quickly so we can respond and build in the right direction aligning with customer/gamer/community needs...

Here is the link to our community, please join so you can be up to date on all of our events.
https://t.me/HiFiGamingSocietyPlatform

Here are highlights for what is happening right now.

- We finalized our first audit with HashEx, and we are working on final revisions.

- We have a beta program active with hundreds of gamers in our discord channel. Although we are selective in who we add now, given our close timing to launch, we encourage users to sign up on our waiting list at hifigamingsociety.com.

You CAN join our discord community here although you might not get access to the platform right away. https://discord.gg/mFjvRM2X

- We are scalating beta users as we smoothly onboard and evaluating any issues.

-We have 30+ games in our platform and can scale this another 100+ but we are going to only make available 8-10 games to begin with and release 2 games weekly leading up every week to new game launches, to encourage user adoption, retention, and nifty marketing!

Next on our roadmap are the following items in sequence....

- NFT Gateway
-Free Giveaways activated on dashboard
-Game Farms
-NFT Marketplace
-Mobile Experience
-Games inside Game Farms
-More Games loaded into system for gameplay
-Contests
-Competitions
-Annual Blockchain Tournament

It is quite the journey we are on. Anyone recognize this old school favorite? Brings me back to middle school in the early 90s. ;)

You must play Oregon Trail.

You can play it on our platform 👍

It is quite the adventure game for a simpler time.

Q4 Kindly share in your tokenomics and explain the distribution?

HIFI has a total supply of 1,000,000,000.

20% were used for the IAO at ApeSwap
15% are lock for the team
15% for game developers support
20% Ecosystem support
30% Mining

30% Genesis Mining will bake into the platform and as players play games, they will earn rewards based on 8 factors.

Source: https://hifigamingsociety.com/litepaper.html

Yes this is a deflationary system where we have many inversions to offset inflation.

Q5 What is waiting list and who all should sign up for it?

*HiFi Society:
Our waiting list is the way we slowly onboard users to our beta program and whitelist wallet address.

It is very easy, once you sign up, soon you will receive an email with an invitation to join a discord cannel, and in the discord channel you will receive all the instructions to onboard. Right now we are on testnet, and soon we will be launching to MainNet on BSC.

Everyone is invited to beta test our platform although we are controlling onboarding as we have started receiving amazing feedback and this has required resources to support the growing demand for our product. So please be patient as we develop our migration to MainNet. We want this to be more like an Apple Product Release rather than a Walmart Black Friday Storm if that makes sense.

We haven't decided yet if we will remove all whitelisting requirements at MainNet launch.

🟡 SEGMENT2 TWITTER QUESTIONS.

Q1 How you give the assurity to users you won’t rugpull and the team tokens and liquidity are locked
@Rockydj834

*HiFi Society:
Security is most important. It is our responsibility to protect our investors and stakeholders at all cost. We see even in the past week there were more violations from bad actors hurting popular projects.

We have auditors to help us evaluate the safety of our code. HashEx is doing an amazing job providing due diligence on our code. Especially in new projects with new innovation. There is no template! Test in product is very risky. We have testing servers, staging servers, and production servers and our pipeline of quality code will continue.

We also have quality assurance talent on our team and we will continue working closely with security consultants to protect the community.

Additionally we have locked up a good portion of the supply and we can reference those links in smart contracts after the AMA, we will put them in our gitbook also.

Team tokens are 100% locked up already in a 12 month structure.

We are very transparent. Look at our team. https://www.hifigamingsociety.com/team.html

Good question. Our partnership with ApeSwap required core team members to KYC. So I personally have been KYC'd to the core group who helped launch us. We also have people on our team requesting privacy, although I have KYC'd my group. After successful launch, we intend to reveal more and I intend to KYC publicly when the business has evolved enough where we feel like we have proven our product value, established quality reputation, enough of our compliance record shown historically, and legal framework in place (this is all in process) to protect everyone building this operation. I am in the USA and we are working on our compliance and legal strategy. It is a sensitive area we must not be reckless about.

If you follow our community you will also recognize the level of communication and transparency is above the standard. We have several telegram channels, a support system for the product (https://hifigamingsociety.atlassian.net/servicedesk/customer/portal/1), and we are not going anywhere. We are only going to get bigger and more open.

Q2 Can you tell me about the governance and how are you truly democratic and are you community driven ? @Zordan91017228

*HiFi Society:
Governance will come in the form of our HiFi Society. We need to onramp successfully and establish daily user growth and product performance before we have the value necessary for implementing the governance layer. Our governance layer will grant access to community members into HiFi Society. Our highest engaging community members. This will come from our reputation for gamers driven by data, our highest staked individuals, the biggest contributors to the growth of the HiFi Gaming Society Ecosystem and, our Game Farming initiatives which are getting built right around the corner! More details to follow. This is all I’d like to share at this time. :)

As far as democratic, we have a strong relationship with our community. Half of our team was recruited from our community. The voice of the community is heard and it evolves our platform and product. we will continue building voice of the community programs to implement ideas and test them in our lean startup approach.

Q3 You have options of staking available as well so how you plan to reduce the level of inflation and also what’s the X Factor of your token Hi-fi gaming society. @Ronan76934520

*HiFi Society:
As it stands now, we have 5 staking options Kindly allow me to explain how they work...

5% fee L1 staked for Play
4% fee L2 staked for Earn
3% fee L3 staked for Boost (Bronze Item)
2% fee L4 staked for Boost (Silver Item)
1% fee L5 staked for Boost (Gold Item)

Play 100
Earn 1000
Boost Bronze 2000
Boost Silver 5000
Boost Gold 10000

There is also a burn option on the Boosts. We have strategies to use these fees for buybacks and burns in a systematic function. Having said this, we will test and evaluate market conditions/growth factors to determine the right formula to help the economy grow.

Our X factor is NOSTALGIA. It permeates every user in different ways, recalling memories, emotions, and experiences remembered for a lifetime. It is the best feeling and the best way to encourage user retention. We have only begin building our nostalgia distribution sytem. 😄

Our technical X factor is our highly scalable gaming, data, and gaming analytics marketing infrastructure. Endless gaming, rewards, and endless nostalgia.

Regarding our staking amounts, these will change over time based on market conditions. They will be really low to begin to encourage user adoption and growth, and these staking options are activations for gameplay, rewards, and accelerating rewards.

Q4 How you differentiate between basic premium and elite users and what’s the benefit they get also speak a little about nfts and how to collect them @Grumpyb14017909

*HiFi Society:
We will have different types of users (Gamers, Farmers, 3rd Party Gaming Developers). There will be a journey for each of these experiences tailored to each type of user’s engagement level.

The more engaged a user is the more enriching HIFI experience.

Users will have options to bypass engagement with NFTs! So you see our NFTs will be equivalent of easter eggs or warps to a high status of reputation in our ecosystem. Ultimately, each journey will end with access to HiFi Society and I will share more about this down the road. This is where you want to be if you buy into the HiFi Gaming Ecosystem.

HiFi Society is our VIP program.

We are building an NFT gateway which is the access hub to all the different coming experiences including Premium Games, Game Farms, NFT Marketplace.

After users earn HIFI rewards, we want to give them enormous value in utility in these new experiences. All of these new experiences will drive massive amounts of scalable transactions driving our value chain.

After we have proven enormous value inside BSC's ecosystem, it wil make sense to expand to other blockchains and these discussions are rooted already.

Q5 How you plan to benefit game developers and what are the benefits they get and how you plan to generate revenue through it? @CryptoSahriya

*HiFi Society:
Great question. We intend to reward game studios and game developers in the same way youtube rewards content creators, but with HIFI, based on a gamers participation (play time, # games played, other engagement factors) per game listed by a 3rd party gaming company. So effectively the more a game gets played (and we can incentivize them through contests/competitions/sponsorships/ads/so many possibilities here!) on our platform, the more they will earn. We have discussions this week with financial professionals designing the incentive structure.

I want to challenge the industry of gaming to consider our value proposition. Why would they not want gamers playing their older games that are literally sitting on the shelf not getting any gametime! We offer a method to revitalize and reactivate revenues for games they built 20 years ago!

The audience is on our platform dying to get to play all the games from all the studios and brands you know about!

🟢 SEGMENT 3 TELEGRAM LIVE.

Q1-Daman Bow:
Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?

*HiFi Society:
They are coming! Stay tuned. Best is to goto hifigamingsociety.com and visit our discord! https://discord.gg/mYbYVdWH.

Q2-I Am Riderking:
Gaming is one of the biggest industries getting into crypto, so it calls my attention that within the 3 priority usecases, the less prioritary is actually gaming, do you intend increasing the development of gaming facilities in HIFI SOCIETY?

*HiFi Society:
Gaming is our strategy against the bear market! Look at Play to Earn platforms recent craze in crypto. We are coming.

Q3-Soriful🥰🥰🥰:
The concept of the project is to create an ecosystem with multiple integrated games but I would like to know if you plan to develop other DeFi proposals within the HiFi ecosystem in order to create a diversified economy comparable to other recognized gaming platform?

*HiFi Society:
Yes look at our roadmap! All the crypto features are coming but we need to build gaming base first to protect us against market forces.
Next on our roadmap are the following items in sequence....

- NFT Gateway
-Free Giveaways activated on dashboard
-Game Farms
-NFT Marketplace
-Mobile Experience
-Games inside Game Farms
-More Games loaded into system for gameplay
-Contests
-Competitions
-Annual Blockchain Tournament.

Q4-Fayyas:
•Where can I buy it?
•also all the links to all your social media platforms if possible?

Can you explain the Tokenomics of your project?

*HiFi Society:
https://apeswap.finance/

Q5-Soriful🥰🥰🥰:
The concept of the project is to create an ecosystem with multiple integrated games but I would like to know if you plan to develop other DeFi proposals within the HiFi ecosystem in order to create a diversified economy comparable to other recognized gaming platform?

Ans;

https://t.me/HiFiGamingSocietyPlatform.

Q6-Bontot:
Is your project a global or are there any restrictions and terms and conditions to use?

*HiFi Society:
Global project!

Q7-Simpa:
I read on your website. HIFI staking cannot be traded, sold or used in any way. To cancel HIFI, users have to cash out their tokens and wait for 24 hours. Users can reclaim all staked tokens. My question is, why is the system like that? why have to wait 24 hours when cashing?

*HiFi Society:
You can unstake immediately. We have a 24 hour reward processing schedule and this is encouraging user growth and repeatability, retention, and we must test the processing and approval of claiming rewards, and after time, testing, we will automate more. It is mainly about security. Your HIFI is safe with us.

There is no hold on staking or unstaking to be clear. It is for reward processing and the time limits will decrease as the economy grows.

thank you! I must goto next meeting. Appreciate your time. Thank you CryptoScape!!

Thank you from Crypto Scape