Intro to the IMERS project Meetup: Q&A Transcript

by | Jul 16, 2022

Does anybody have any questions?

Again, everyone. If you have any questions you can type in the Q and a section or chat section. There are a few questions that we have. Let’s talk.
Does it cost anything to play IMERS?

Um, I can field that one. Gavin. No, it doesn’t cost anything to play the game. You don’t put your own capital in.

What coins can you trade in the competitions?

BTC ETH FTM, ADA, LTC SOL DOT XRP DOGE AVAX TRX NEAR, SHIBA, UNI

These are the ones we’ll begin with. But what we’re doing in discord is asking the community which tokens they would like. The idea is really to be driven and guided by what the community would like to trade because we’re pulling in feeds from at the moment. We’ve got 10 exchanges in the system now, but we’re widening that to include a much broader set of centralized exchanges plus decentralized. We can essentially run the competitions around pretty much any one of those tokens.

Is IMERS DAO?

It does act like a DAO with layers of decision making by the token holders – members of the community. This will be after the token launch. A foundation will be formed driven by the community. But then each level in the in the in the ecosystem has self-government at its core. So the Guilds and their direction is driven by the partners who own the assets of the of the Guild. And by assets I mean the Guild name, the Guildhall which is an NFT. How the prize tokens that the treasury holds are distributed. Who is invited to join the guild.

Similarly, the Plaza rules are governed by the partners of the Guilds that are resident on the Plaza. What is the Plaza’s name, their central sculpture. Is there a levy charged on competition winnings. Do they want to run in Plaza competitions to attract new talent.

And there will be a similar set of issues dealt with at the city level where the token holders decide on direction. So governance is built into the whole ecosystem. This will give token holders real involvement in how the how the gaming ecosystem evolves.

How long are the competitions?

The first competitions we’re running, are really to get people used to using the immersive trading hub. It will be 24-hour long competitions. But later on there will be hour long competitions. With those, the idea is that there are very low prize level competitions hitting every hour where somebody can participate for a short period of time – day trading, a rapid fire competition. There will also be months’ long competitions for people who want to take more investment approach where they’re taking a longer term position. So there will be varying lengths of competitions to suit different trading styles.

What are the competition prizes?

Once the token is launched they will be in IMERS tokens. Before the launch of the token your account will be credited with IMERS. This will allow you to bid for land and Guild buildings. Once the token is launched, then there’ll be a integrated web3 wallet. Once the token is launched it will appear on so even if the prizes are paid in IMERS, but then you can swap it into whatever tokens you want.

Your said in the presentation that the game assets are NFTS?

Yes, everything from the tokens you hold through to the assets you hold within the game will be will be held within a Web3 wallet. This means the Guildhalls, assets in the Guildhalls, the trophies – all held in a Web3 wallet.

What do I gain as an amateur trader, where I know that I am unlikely to win?

Firstly, the the way the prizes are structured. There’s actually quite a broad payout. Obviously, the lower down the field will get smaller prizes. But what we’re trying to do is make this is quite open.

And the other element, which is key is that we think in many cases Guilds will be operated by better traders. And by joining a Guild you will share ideas with the founders of the Guild. It is our belief that just like in other gaming, people will quite happy to share their ideas. You can see how other people trade so you’ll gather information that way and become a better trader. The other thing to bear in mind is that for beginning traders, it’s far better to paper trade or work in a play trade environment while you’re learning. That way you’re not risking your capital. Instead, you’re building up your expertise, building up your experience. Within the IMERS game you’ll actually get to see how you’re improving because you’ll see yourself moving up the rankings.

How much do Guildhalls cost?

So there’s two elements to Guildhall costs, three actually. There’s purchase of the land. And then there is the staking required for Guild. And then in the future there are the assets you can purchase to enhance the Guildhall and make it unique.

I’ll cover those, things separately.

The purchase of the land will be by Dutch auction. What that means is that bidding will start at a price level, but that price will slowly decline until somebody purchases the plot. So it could go as low as near to zero early on, while people are building up their stock of IMERS. We expect the early land auctions to be quite cheap. It’s difficult to say what that price will eventually be because it is likely to rise as the game gains in popularity. Then people will jump in earlier and the price of the building plot will increase. Once you’ve got the land it’s pretty straightforward. A Level One Guild, which allows up to five traders is a thousand IMERS. Those IMERS tokens are staked not spent. So. Your IMERS still sit in your wallet, but the smart contract for the token is written so that it can be staked or locked in the wallet. And it remains locked for as long as you have that first Level Guild. Go to a Level Two Guild with up to 10 traders – it’s two thousand. Level Three Guild with up to 15 traders – 4,000, So it gets progressively more expensive in staking terms the more members, But the benefit, as Marcie said is if you’ve got 10 people in a guild, for instance, that’s 10 chances to win at competitions because all Guild partners get a commission on their win. And the Guild Treasury also gets a commission. So the larger the Guild grows, the more wealthy those Guild members will be.

And this refers back to the earlier question about how can somebody who is starting out as a trader going to win IMERS prizes and the obvious way is to join a guild as a partner or start at Guild and participate in some competitions. That person may win some prizes but they’ll also benefit from other people’s prizes as well.

Can I trade IMERS on an exchange?

So when we launch the IMERS token as a token project, then there will be a public sale on an exchange. So yes, that will then give a clear value to the token, but on day one it will be an in-game token. But early on you’re building up that value, so that when it’s launched, they’ll be tradable if you want.

Can before you ask any other questions? Can I dial back one or two questions? There was something you said that actually is really interesting. So initially, the Guildhall land is likely to be very inexpensive, but the Guildhalls that our oldest are also the most valuable. Isn’t that true?

That’s correct. So, long term, they’re the most valuable Guildhalls because they get the larger prize multiples. So the people involved on day one are the people who will get a disproportionate value from participating. And then as the community grows the value then switches. And you get the usual progression you get with a big game which is not unusual in the game environments. You find the people involved early on have the most skill and they have the best in-game assets. And you know, and new players are then trying to catch up with them.

And just to point out to the people that are here today before you can buy IMERS or at the public sale the way you get them is to earn them!

How do I earn them? IMERS I mean?

You do that by creating content about the game, pulling more people into participating in the Discord, in the Telegram group spreading information but also winning competitions.

Yeah, from July 25th onwards the competitions start. The trading hub will open on July 20th. And it will just be there for 5 days for people to get familiar with it, get comfortable with it. And then the competitions will start. We’ll start with daily and then quite quickly go to hourly, So there’ll be lots of opportunities during that early stage to earn, IMERS tokens and start participating directly.

What we’ll do is, people will start with $10,000 in their account and can play around with it and see how it works. And then All the accounts will be reset and the competitions will start.

Lauren very politely added apologies if I have missed this early on.

Oh, no, no, I don’t think we covered this so there’s two elements to a competition prize. The first is the token element and the way we’re running, it is like rounds in a tournament, probably the best way to describe it, so a Level One win gives you a small reward, and that’s probably only going to be something like 10 IMERS. Um, but winning gives you entry into a Level Two competition. The Level Two competitions give a 100 IMERS prize and entry into Level Three Competition – a Level Three win will be 250 IMERS and entry into a Level Four competition. So, as you keep winning, you keep gaining entry into larger competitions with larger prizes. But obviously against better traders because they also will have won the previous competitions and the other elements of the prize. This functionality I think won’t be there for the first 30 days. That’s how it appears on our timeline.

As part of the prizes you will also receive NFT art cards or trophies. Essentially, they represent different aspects of the game-play and have a graphical representation that you can hang in your Guildhall. But also, as you collect full sets, you can turn them into more valuable NFT prizes. So there is a token rewards element. But there’s also an NFT reward element.

 

And then when we release the metaverse part of the game, people will be able to tell who are the winners as you’re wandering around the environment, isn’t that right?

Absolutely. The idea is that there will be a time when and I don’t want to give too much away yet, but there’ll be a graphical representation of that NFT that will show people that you’ve won these competitions.

Cool, Very cool.

Lauren has said, understood and thanks and added what are the competitions?

The first ones will be general trading so you’ll be able to go long, short any of the selection of cryptos? Let’s say it’s a 24-hour competition. There’s an example. So, you start buying or you start selling. Everybody will see in real time where you stand in the position rankings. What your returns are. So you can see if you’re trading is doing well. And if you’re high up in the rank when this competition ends, let’s say at midnight, then something like the top. The top 20% were receive a reward of some kind. And that will be placed into your in-game wallet.

And I just want to point out to people who have joined us, but they’re not really, very experienced traders. Gavin was saying about you being able to trade long or short means that you don’t only have the opportunity to win if the market is going up. For traders who can judge if the market is falling, you can still make money. If you’re a short side trader and part of playing the game is if you’re not an experienced trader, people will teach you and you will start to gain this knowledge, which is not only useful in the game, but will be useful if you decide that you want to trade cryptocurrency or other things out in the world. So, since the crypto market is in a bear market right now, so the market is coming off. It doesn’t mean that the game won’t be fun. The game will still be very interesting, and there’ll be lots of opportunities to get prizes.

That is insightful Marcie. There is another question asked about the markets. Will there be an analysis area that the player can do?

Yes, so on day one, when we launch the trading hub app, you’ll be able to see price action from a multitude of exchanges and markets. You’ll also be able to pull up charts of different markets. So you’ll be able to chart markets see what’s going on short term, longer term too.

Um, and if you are within a VR headset, within an immersive environment, so the thing that I like about it is you’re not confined to two screens or four screens. You can have as many of these charts around you as, you need to make your trading decisions and monitor the markets you’re interested in. So that will be in in the trading hub on day one. As we move forward, there’s going to be some additional capabilities. For instance, there will be an in-game news feed which will give news on what’s happening in the crypto markets so you can keep that on an open screen.

Will there be Internet access?

There will be an in-hub browser so you can you do your own research while you’re in the trading hub. You won’t need to go out and then come back in. You can pull up different websites within the trading hub.

Now, this next feature is a bit further down in the development plans, but there will be a news channel, which will have avatar news readers reading out what’s going on with the competition. So, who’s winning? Well, also what is bitcoin doing? Any news that’s come out. So, it will be like a virtual Bloomberg but very much focused on what’s happening in the crypto market, and what’s happening in the game. So combined real-world news and some in-game news.

Again, looking a bit further out we’re integrating AI into the back end. Everyone essentially has their own autonomous AI agent. So, if you imagine what this does is similar to Netflix. In the way, Netflix will look at what you watch and say, “Okay, you’re interested in this type of film or this type of series and it will show this these types of programs.

In the trading hub the autonomous AI agent will do a similar thing. It will look at the types of markets you’re looking at looking at and the characteristics of those markets in terms of volatility, in terms of direction. The AI will self-select the criteria it looks for – which will be different for each person. And if there’s another market that that matches those criteria, it will determine this is a market you might be interested in looking at. It will bring that information into your line of sight so you can pull up a chart. You can see what that market is trading and just give you give you an indicator that this might be something you’d be interested in trading.

Thank you, Gavin. I am so sorry, Mia that I kept you waiting. Mia has a question directly for Marcie – Will you be sharing a demo or clip as I have been searching IMERS.land but can’t seem to find what exactly the metaverse will be like and I’m trying to understand it? Thank you.

We do have some video of it and I will be posting that on our YouTube channel. Also, very shortly, you’ll be able to see what it looks like by going inside of a VR headset. I’ve wandered around the metaverse and that would be possible.

Gavin states: Remember the release trading hub app comes first. But what we can do is provide an APK file of the metaverse for people. If you have your VR headset, initially other people won’t be there with you, but it would just give you a feel for what the metaverse looks like.

Just contact me on our Discord and I can arrange that for you.

Thank you. Charles is saying thanks. You’re always welcome, Charles. Thank you for your question. Okay. I think this one is for Gavin.

Do I put Bitcoin or ETH on IMERS.land to take part in the competitions?

No. So, there’s no fee to enter. The trading competitions are free. And that will always be the case as an individual trader. It’s only once you start, building Guildhalls, staking, tokens for Guildhalls that you need to you need to own IMERS. And on day one you can’t buy IMERS. You can only earn it by trading and winning competitions or by, by helping with the community and aspects producing content, that sort of thing.

It’s not a trading platform. It’s not an exchange. You don’t have to risk your own capital to participate.

The next question is, do I have to trade at the particular time of the day? And the following question is, can I only play the game in my VR headset? If I start out that way?

No. Okay, I’ll try to answer them in order rather than jumping around. So, the first question was, do I have to trade at a particular time? So, when we have the hour-long competitions, they will be running every hour for 24 hours, and we’ve done that to make it fair. That way whichever part of the globe people are on they can play. The daily competitions will start at midnight UTC and ends at midnight UTC. But again because they’re running for 24 hours period you can participate in your own time zone so that’s convenient for you.

The second part of the question is can I only play the game in my VR headset if I start playing in VR? The answer is no. So initially there will be a Web2 and VR way of trading. It is a single account. That way you can you can participate anyway you choose. You can open a position in your VR. Close it out on the Web2 interface and vice versa. And the performance is integrated. So, it’s one account that you can access from your phone, from a website, from VR. A bit later on when we launch the metaverse side of things, you’ll also be able to download the unity application, either on a Mac or Windows so you’ll be able to get more of a metaverse feel that you can from a simple website.

I have just seen the question from Paolo – will there be an airdrop?

Um, essentially instead of an airdrop we’re doing these initial competitions, so it allows people to participate and start earning IMERS by playing the game without any risk. So, there won’t be an airdrop per se, but obviously there is the opportunity to earn IMES without buying it on an exchange.

Let’s say that you wanted to start earning IMERS, you can do that by joining the discord channel. You then register an account on app.imers.land/register. Then enter your discord handle into the community page on the IMERS app. Joining the app would give you 100 IMERS tokens, simply for setting up your account, And then you would get IMERS tokens for

having entering your discord details onto the application. Same thing with Twitter, Facebook, LinkedIn, TikTok, YouTube. You follow us on those social networks, than enter your social network ID into the applications so that we can track that you are following us and sharing content and you would be awarded IMERS for that.

Gavin states: Once the game actually starts, and we have the in-game communication channels such as news channel, so on and so forth, as Marcy mentioned, there will be IMERS rewards for creating content as well as letting people know you wrote that content. So, if you see something interesting you could write a short couple of paragraphs about it. What you think is going on. It will be published on the in-game channel. It will be reviewed by the in-house team to make sure the quality’s acceptable. If it is, it’ll be published and you would get IMERS rewards from that as well.

Thank you. Okay. Um, he has already joined telegram. Brilliant. Thank you very much. Have you? Yes. In regard to the tokens mentioned in trading if one was intensely interested in a certain token, What is the protocol for adding access to certain tokens?

Over the next couple of days the intention is to list these are the tokens that currently is available.

Let us know which ones you would like to add. So first step would be to post your interest on Discord and we will then look at it and make sure that there’s enough interest in the token in the real world. We will make sure that we’ve got access to at least a couple of exchanges that support the token as real time feeds into the system, and then we would launch it as a tradable tokens on the IMERS environment, if it met all those criteria.

It’ll be a bit longer, before we can add tokens that are only available on decentralized exchanges simply because we need to think about what the what the protocol is to allow or not allow certain tokens onto the onto the platform when there’s not a central price source. Real time price source for that. I’m not sure how that would work exactly.

Thank you. Gavin Mills also asked is there a possibility of collaboration with other projects?

Yes, And there’s two ways that will be working with tokens. Part of the code within the ecosystem is actually the ability to market new tokens to the community. So we we’ve got a number of interesting ways that we can allow that to take place. Also, we are looking at partnership opportunities outside that where there might be tokens focused on the gaming community where we can share community access, that sort of thing. So, yeah, both areas we knew tokens that want to publicize themselves and let people know about their existence. Both of those would be of interest.

Also, we speak to a lot of people every week. So, you might have some ideas that, we haven’t thought of so absolutely reach out. Definitely.

Lauren has asked is there a KYC requirement?

So for the game, because you’re not trading with your own capital, we’re not holding assets, so there’s no KYC. When we go into full Web3 it will also be non-custodial. So, that means when you earn a prize, it will go straight to your token wallet. When you are staking tokens, it will still be locked so you can’t move it. But it will not be held by the project. So, for that reason we don’t need to KYC

However, during the token sale – When we make it available on centralized exchanges, then obviously that, would follow the requirements of the exchange itself.

Marshall was saying, we are all about gaming. Let’s talk later on. So that’s a happy comment. I wanted to share that, too.

There’s another question. Have the competition started already?

So we were doing some test competitions. Actually, I should rephrase that. We’re doing some test competitions just on Web2, which is really just about testing our infrastructure, making sure that the competitions are working correctly. You can enter those if you’re a member, but the game those are really for people who are using In their exchange accounts. It just links into their live trading account, So it’s not really a game play elements.

The first game competition will be when we on a week after we launched trading hub which will launch on the 20th of July. Then, a week later, the first competitions will start.

Thank you very much. No more questions. Thank you, everyone for your time really appreciate that. And the great questions as well. It’s really look forward to meeting all of you on discord later. Thank you. Bye bye. Thank you, everyone. It was a pleasure. Thank you.