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A Recap of WePlay's AMA on CryptoSquad Communityby@dare
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A Recap of WePlay's AMA on CryptoSquad Community

by Dare ShonubiMay 31st, 2022
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WePlay hosted an AMA (Ask Me Anything) session on the CryptoSquad Telegram channel on the 17th of May 2022. It was a question-and-answer session between WePlay and cryptoSquad, during which WePlay was questioned about its platform's developments, objectives, and aspirations. WePlay is a visual social network where you can run, jump, drive, interact and communicate and trade across different blockchains in a visual way. The platform is designed as a DAO where our token will be used for governance and voting rights.
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On the 17th of May 2022, WePlay hosted an AMA (Ask Me Anything) session on the CryptoSquad Telegram channel. It was a question-and-answer session between WePlay and CryptoSquad, during which WePlay was questioned about its platform's developments, objectives, and aspirations.


A: So, Let's Proceed to The Introductory Session Without Any Delay ). Q1: Would you please briefly tell us about WePlay and its vision?

T: Yes, WePlay is a Metaverse Web 3.0 platform. We offer a few major things that are missing from the whole ecosystem in crypto and Web 3.0 right now.


  1. WePlay is a Visual Social Network …think of VR Facebook and Instagram instead of a boring old app or website.

  2. WePlay is designed as a DAO where our token will be used for governance and voting rights

  3. WePlay takes the GameFi concept and extends it to a SocialFi concept, you earn not only from playing games but through social interaction as well

  4. WePlay is launching our first VIP Car Licence Plate NFTs which you can use for major perks like 5x Staking rewards. Increases DAO Privileges, more token allocations, etc check our Twitter for timelines.

  5. WePlay is also launching its own Metaverse where you can run, jump, drive, interact and communicate and trade across different blockchains in a visual way.


Think of interacting with the crypto world in a Virtual Reality and Decentralised Metaverse where your NFTs, your content, your interaction…all give you value.

You can issue NFTs and tokens and your very own sub-DAOs and platforms using WePlay.

We look to be the Ethereum of the Metaverse.


A: Q2: 'Axie Infinity was a huge metaverse project but when they tried to build their project on web3 their team was unable to pull it out and they were vulnerable to hacking' How do WePlay plan to overcome such Strains?


T: Excellent question. T

The issue with Axie is that they were initially launched on Ethereum and then transitioned to their own EVM.

An EVM deploying smart contracts is inherently risky to exploits that steal locked value (a hack).

At WePlay we implement multi-blockchain, multi-sig smart contracts across multiple chains using the due diligence and intelligence from the losses not only at Axie but at other bridges as well.


Simply put, any action that a user takes has to be approved by multiple levels of their own access before it is committed to the blockchain they are interacting with. We implement this via our decentralized, trustless, multiple authentication wallet that is tied to a WePlayer’s online Metaverse blockchain ID.


This allows the player to be verified by a system of checks and balances that are themselves decentralized and thus much more resistant to a hack.


A: Q3: Aim of every DAO project is to decentralize decision making, So up to what extent the community can participate in the decision-making of WePlay?


T: The community and celebration of it are very important to us at WePlay.

We want to develop an ecosystem that we can give away to the users and have them run it as they see fit (via an IDO and NFTs that allow voting and governance)


At WePlay, there are different voting levels depending on the DAO level.


At the top level is the WePlay DAO which has its own governance token and NFTs that assign voting privileges in the WePlay DAO and ALL Sub-DAO.

At the Sub-DAO level users can again use the project's tokens and NFTs to exercise their decisions.


We not only have our own DAO but we give a framework to all other projects to implement their DAO within the WePlay ecosystem


A: Q4: The Role of Partnership in the long -run of a project is vast. Could you please clarify whether there is a plan for collaboration from WePlay?

T: So this is an area where we have great news!

We just partnered with Polygon Studios of Polygon network. Polygon (MATIC) is the biggest EVM on Ethereum with thousands of DApps and very very fast with fees in cents.

WePlay has an existing relationship with Polygon and they have been helping us fine-tune our upcoming NFTs launch (in 3 weeks) and Metaverse dev.


Having a Multi-billion dollar team of a very valuable project helping you out definitely leads to an acceleration of development and security.


At the same time, we are also in active talks with the Near Foundation and FileCoin for collaboration both on the Aurory L2 and distributed and decentralized NFT storage.

Our partners are extremely well-known projects in the crypto space and we are actively solicited by more such organizations which we respect as well.


A: Q5: How to engage in WePlay gaming? What are the requirements to play the game?

T: So to start interacting with the WePlay Metaverse is easier than interacting with say, DeCentraland.


WePlay will be releasing ways for people to start their first steps into the WeVerse in stages.

We give users a MOBILE-oriented experience. You can use and play in the WeVerse FROM YOUR PHONE! No need to sit in front of a boring old computer.


Furthermore

  1. Stage 1: Buy WePlay NFTs (launching in 3 weeks) to gain access to Alpha app.
  2. Stage 2: Get access to the Alpha app and configure your WePlay Avatar (see WePlay.chat for examples of Avatars)
  3. Stage 3: Test the encrypted, decentralized, trustless communication launched in the chat app by downloading the WePlay App in the App Store and the Android play store (an APK will also be released on the WePlay.chat website)
  4. Participate in the IDO to be Whitelisted for the Beta Launch of the WeVerse App. NFT owners will get default access

With the launch of the WeVerse, WePlay will be launching features such as Drive-to-Earn (again WePlay Licence Plate NFTs required) and Chat-to-Earn, etc.


A: Q6 Can you tell us more about the upcoming NFT

T: Of course!

The upcoming NFTs give users a special VIP Licence Plate and a unique model car based on a blind box system.

NFTs range in rarity from Common to Rare to Epic to Legendary (examples attached)


These NFTs are limited to 3333 and give WePlayers exclusive features like

  1. Enhanced voting rights in the WePlay DAO
  2. Enhanced NFT Staking rewards
  3. Priority in IDO
  4. Enhanced token staking rewards
  5. Exclusive events in the WeVerse that only Premium Licence Plate holders can attend
  6. Exclusive Discord VIP access
  7. Access to WePlay events both in the Metaverse and in Blockchain Conferences in the Americas, Europe, and Asia. More venues are coming soon.


These NFTs range from 0.1 WETH to 1 WETH depending on rarity and will be launched simultaneously on OpenSea as well as our own website (WePlay.chat)


The privileges associated with these NFTs will keep increasing as the WePlay ecosystem goes up.


A: Q7 What are the similarities between Play 2 Earn and WePlay?WePlay Labs

T: So at WePlay we take the idea of Play 2 Earn and make it easier

Instead of actually going and spending time PLAYING a game you MAY not like, you get rewarded just for interacting and exploring the WePlay Metaverse.


There will be hidden treasures and hidden places in the WePlay Metaverse that, if found by people, will reward them much more than regular exploration.

But regular exploration itself will be rewarded


  1. Walking around
  2. Chatting (more rewards)
  3. Driving (higher rewards)
  4. Buying land in the WeVerse (higher rewards)
  5. Building in the WeVerse (higher rewards)
  6. Interacting with DeFi protocols in a visual way in the WeVerse (refund of fees etc)

Insured, just by being in the WeVerse, you will be earning instead of actually having to do something specific.


A: Q8 Tell us more about the Metaverse in

T: The WeVerse is a highly evolved Metaverse that allows

  1. DeFi
  2. NFTs
  3. DAO
  4. Cross-blockchain integration
  5. Trustless communication
  6. More interaction like driving, climbing, swimming etc


It’s like a second world not only for finance but for social, communication, meeting friends, buying and seeking crypto, products, chatting, attending events etc

We will also be roping in a few celebs who are excited about WePlay (more on this on our Twitter. Can’t disclose too much as talks are ongoing 🙂)

Questions from the Community Ok guys we are going to answer in the 5 broad categories we see most of the questions from :)


  1. Tokenomics and launch plus vesting

  2. Hackathon

  3. NFT Launch

  4. Socials for updates

  5. WhitePaper and revenue model


Starting with 1 below

  1. Tokenomics and launch

We are locking most of the WePlay token supply in quarterly vesting schedules.

Schedules depend on raise rounds. Our total raise aims are $3 million of which

  • Seed Round Is complete

  • Private Placement is almost complete

  • Series 2 VC is underway

  • IDO


80% of funds are earmarked for IDO and these will be released across multiple Launchpads across multiple chains in Q2 or Q3 2022.


Priorities are Polygon Network, Binance Smart Chain and Ethereum.


For a detailed roadmap follow us on Twitter @weplaylabs

Join our telegram and discord and subscribe to our newsletter by visiting WePlay.chat


The tokenomics and roadmap are subject to revision but if you are part of our community you will get the latest news first.


Total supply, pricing etc will be disclosed as well closer to Launch.


  1. We have plans to organize a hackathon after IDO

This hackathon will be open to the following chains initially

  1. Polygon 2 BSC
  2. Ethereum
  3. Solana
  4. Polka dot

For exact dates please become part of the community


  1. NFT Launch

The NFTs and their perks have been mentioned already

The launch is in 3 weeks. If you want to get on the Whitelist please join our Twitter and discord along with Telegram and Mods will direct you to the correct avenues.


  1. Socials

Twitter: Twitter.com/WePlaylabs Discord and Telegram links are on Twitter

Website: WePlay.chat


  1. WhitePaper and Revenue

WhitePaper will be released on our website so please visit our website for launch.

Revenue Model: Cross-platform projects issuing tokens on the WeVerse will use the WePlay token much as ETH is used as fees for projects on the Ethereum blockchain. Token appreciation will play a huge part in this.

Further revenue models will evolve by the sale of NFTs like Land, Cars, Collectibles, Wearables etc and as more projects come in


So, this marked the conclusion of the insightful AMA session with WePlay on CryptoSquad community.