AAG Ventures x Satoshi Club AMA Recap from 29th of November

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from AAG Ventures and our guest was @juminoz, CEO of AAG Ventures. The AMA took place on 29 November.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Andrés M. | Satoshi Club: Our friends from AAG project are here to share valuable information with us 😃

Jonah 🏅🎹 | Satoshi Club: Hello @juminoz Welcome to Satoshi club. 👏👏

Jack Vinijtrongjit – Will Not DM First: Hi all! Thanks for having me here. My name is Jack and I’m the CEO of AAG Ventures.

Andrés M. | Satoshi Club: @juminoz welcome to Satoshi Club, how are you doing?

Jack Vinijtrongjit – Will Not DM First: Doing pretty well. It’s a great time to be in crypto.

Andrés M. | Satoshi Club: That’s true, this is just the beginning of something big

Well, we are glad to have you here Jack, could you give us an introduction about you and your experience with crypto?

Jack Vinijtrongjit – Will Not DM First: Sure. My background is in enterprise software with a specialty in building scalable software infrastructure and integration. I have been in probably 7+ industries and now my focus is back to the blockchain space I have been around casually for the past 5 years or so. I believe blockchain tech is amazing and I’m always amazed at what people come up with.

Andrés M. | Satoshi Club: Amazing background, so it brings you to create AAG, could you give us a brief description about the project and what are the main products do you offer?

Jonah 🏅🎹 | Satoshi Club: Having Being in Multiple industries..Gives you a superb experience for what you are building..

Jack Vinijtrongjit – Will Not DM First: We actually started as a guild called Achip & Achair Guild (AAG) with a heavy focus on Axie Infinity since it’s pretty much the only one that can help generate significant income even now. We then quickly grew to a team of about 1,500 in 7 countries. We kinda figured out a few secret sauces on how to grow quickly and cheaply. And btw, this is all in house unlike other guilds that outsource to local country managers.

That’s how we got started.

Jonah 🏅🎹 | Satoshi Club: You now have 1500 members in your team?

Jack Vinijtrongjit – Will Not DM First: We recognized that we were very profitable and at the same time we’re helping a lot of people. With my enterprise software background, I quickly realized that we need to automate a lot of things to be able to scale. That’s how we decided to pivot to create a platform that doesn’t just allow us to grow more efficiently, but also allow other guilds to use the platform and help even more people.

We actually have over 2,000 now. We took a little pause to focus on the product, but we are now focusing on expanding to 16 countries we can get the local knowledge we need to make sure we can support guilds in any country.

Jonah 🏅🎹 | Satoshi Club: Great Job being able to extend your platform more people is commendable as this is a much needed ingredient in this space.

Andrés M. | Satoshi Club: Global project

Jonah 🏅🎹 | Satoshi Club: This is excellent 👌

Jack Vinijtrongjit – Will Not DM First: Yes, thanks to Covid, we kinda figured out how to work remotely. Even the core team is currently representing 17 countries.

Andrés M. | Satoshi Club: @juminoz thanks a lot for the clear introduction about the project, now we are even more excited to learn more things about AAG😃

Yes, it changes the ways to do the things, I’m happy to know your team have a good adaptability capacity

Well, we have collected 6 questions for you, are you ready to proceed with the first one?🥳

Jack Vinijtrongjit – Will Not DM First: Sure. Let’s do it!

Q1 from Telegram User @nhairym

Do you consider that PTE can really be the tool for the reactivation of finances and become the mechanism of economic sustenance of families and even productive sectors, to those enterprising, creative but growing people who start in this cryptocurrency station that opportunities offer them, Several countries have already joined and are receiving their advantages, what are your next plans and milestones for starting 2022, tell us about your current and future DEX collaborators and how other projects benefit from AAG Ventures?

Jack Vinijtrongjit – Will Not DM First: We actually have multiple tracks for 2022, but the main focus is definitely on the platform side. We are planning to open up our platform for beta partners once we feel comfortable with the software. Then towards the end of 2022, we are planning to open it up for self-service.

I think we have spent enough time building out the right infrastructure (Project Titan) so that we can adapt and scale quickly so 2022 will be a very exciting year where you see a lot of frequent updates from us.

Jonah 🏅🎹 | Satoshi Club: So currently no fixed date for beta version?

Jack Vinijtrongjit – Will Not DM First: We are keeping it fluid at the moment. I would say sometime in Q1 2022 for beta partners. However, we are going live with the first version of the scholar portal in late December/early January and allow our 2,000+ scholars to start using it.

Since it involves a lot of financial transactions, we want to first make sure it’s solid before allowing other guilds to come in. We definitely want to provide that trust factor by dogfooding it ourselves first.

Andrés M. | Satoshi Club: Thanks for your clear answer Jack

Jonah 🏅🎹 | Satoshi Club: Impressive… this will help you release a very reliable project to your members

Q2 from Telegram User @UniqueVicky

I noticed 10.5% of each transactions is allocated to “Private backers”who are these Private backers? For such an amount to be located to them shows they’ve contributed immersely to AAG,do you consider them for future collaboration or there is already an ongoing partnership with them? In what areas have they contributed to AAG progress? And what impacts and advantages does it bring to AAG network? Is there any win-win that you will also give back? Since there no allocation for private sale or presale,are these backers still showing their support as to generate funds for some expenses and cost?

Jack Vinijtrongjit – Will Not DM First: First of all, that 10.5% is not for each transaction.

It’s actually the allocation for private backers who have helped us get this far.

Some of them have been contributing immensely from the thought leadership perspective to actually getting their hands dirty and helping us build our organization as well.

As for presale allocation, we are not planning to have it. We are taking the route of traditional fundraising. The next opportunity is the IDO that we will announce very soon.

Andrés M. | Satoshi Club: Are they like your key partners?

Jack Vinijtrongjit – Will Not DM First: Yes, I guess you could say that. Many of them have gone through the battle with us to get here. Since I don’t want to spoil the surprise, I will keep it a secret for now. It’s worth a little wait! 🙂

Jonah 🏅🎹 | Satoshi Club: So you do plan to announce them..

Jack Vinijtrongjit – Will Not DM First: Yes, we have a HUGE announcement coming up shortly.

Andrés M. | Satoshi Club: I understand they are private but can you tell us some public partnerships that you have at the moment?

Jack Vinijtrongjit – Will Not DM First: Sure. Some of you may have seen a partnership announcement with Vulcan Forged last night. Our approach with game studios is not just to supply them with players and purchase NFTs, but we want to be a true partner in helping them grow their metaverse. Since we are a platform, we intend to integrate with their APIs to provide a different kind of experience for our users since the game doesn’t have a concept of a guild. This will also allow guild managers to have full visibility so that they can help their players optimize their gameplay and yield more as a result.

I also saw someone asking about why we picked Lossless.

Andrés M. | Satoshi Club: Congratulations, Vulcan Forged is a great project, we had a AMA session with them as well😃

Jack Vinijtrongjit – Will Not DM First: As a platform, we want to provide a safe environment where the management of cryptocurrency doesn’t become a barrier to entry. For example, the oldest team member we have is a 75-year-old grandma from the Philippines. She never heard from crypto, never played video games, or even had a cell phone.

This is why we brought in Lossless. It’s because we are thinking about every aspect including security to make sure that our users are always protected and have great experiences at the same time.

Q3 from Telegram user @Rotoxy

You will be introducing NFTs into AAG Venture through VIP founder Club NFTs and you will be enabling the listing of these VIP Club NFTs in Q2 2022 as well as the creation of a profit sharing mechanism based on these NFTs. Can you clarify who these VIPs are and how they obtain these NFTs? How will other user be able to invest in these NFTs with as little as $1 using your NFT fractionalisation mechanism and what profit distribution approach do you use? Also, how does Club NFTs owners uses Turnkey yield generation to obtain DeFi yield on these NFTs?

Jack Vinijtrongjit – Will Not DM First: Our Founders Club NFT is a special reward for early players who helped us expand the team by lending us a portion of their earnings at the very beginning. This NFT is then used as part of the mechanism to pay out the shared reward pool of 5%. They also have an option to sell these NFT in the open market if they choose to.

As for investing for as low as $1, that will be through our fractional ownership module. You will essentially be able to purchase a stake with AAG token and receive a profit share via smart contract.

The last question about turnkey yield generation is basically for you to participate in the ecosystem without having to deal with scholars. You can deploy your NFTs and they will automatically be assigned to the scholars in our global queue.

Managing scholars is not an easy thing so we get why some people would choose this option.

Jonah 🏅🎹 | Satoshi Club: How many of these NFT’S will be available?

Andrés M. | Satoshi Club: Excellent, so let’s talk about the usecases of $AAG token, you mentioned staking, right? What other utilities it has?

Jack Vinijtrongjit – Will Not DM First: We currently have total of 275 for the Axie Infinity Edition.

We intend to issue them for each game.

We are planning a broad set of utilities to the AAG token in order to generate sustained demand. These are:

– As payment for platform / cloud services

– As a universal currency across all PTE games

– To allow fractional ownership of NFTs

– As a fuel for smart contracts

– For voting in the DAO

There are many more utilities that we will introduce in the future.

Jonah 🏅🎹 | Satoshi Club: This is interesting.. The next question asks about one of these usecases.. ready for it?

Jack Vinijtrongjit – Will Not DM First:[11/29/2021 11:42 PM]

Sure

Q4 From Telegram User @Billz120

AAG TOKEN – I understand AAG TOKEN as the Native Token within your Ecosystem would be used by Users to pay for AAG Cloud services. Could you please explain to us enthusiasts about such Cloud services which users would pay for with their AAG TOKEN? And at what rate of AGG TOKEN would users be charged for such Cloud services? Thanks

Jack Vinijtrongjit – Will Not DM First: The primary type of users who will pay for these cloud services are guild owners. They are basically paying for a suite of software to help take care of the non-sexy stuff like payroll, onboarding, performance monitoring, etc.

We have not quite finalized the rate, yet. That will be published in the near future.

Jack Vinijtrongjit – Will Not DM First:[11/29/2021 11:45 PM]

We are basically in a picks and shovels business.

Jonah 🏅🎹 | Satoshi Club: But do you intend that these rates will be based on the resources the users will be requesting for?

Jack Vinijtrongjit – Will Not DM First: Yes, that’s one model. It could be based on the number of users like a traditional SAAS model, but we have not ruled out the percentage of revenue also.

Jonah 🏅🎹 | Satoshi Club: Great thank you for clarifying this question

Jack Vinijtrongjit – Will Not DM First: The current state of most guilds right now is like you are running a company with absolutely everything on paper. That’s got to change.

Andrés M. | Satoshi Club: An earlier stage

Jonah 🏅🎹 | Satoshi Club: Yes I agree..

Q5 From Telegram User @iceVermithraxx

I understand that AAG Ventures launched a project called Project Trident: The Triple DAO and it’s vision is Defining the Roles of DAO in Play-To-Earn. These three DAO includes the AAG Guild DAO, AAG Platform DAO and AAG Foundation DAO. Can you elaborate more on each of these DAO. What are the features of each of these DAO? What are roles of each of these DAO in play to earn? And lastly how can users gain access to each of these DAO and what are the requirements?

Jack Vinijtrongjit – Will Not DM First: We basically have 3 main pillars in our organization when we don’t include the L2E JV with Republic Realm. For each of them, we want to allow the very people who are affected by decisions to have the maximum voice. That’s why we introduce the concept of Proof-of-Participation.

For example, on the platform side, if AAG Guild requests a feature and another guild request another feature, who has the priority? With the DAO process we have in place, we can eliminate conflicts of interests and at the same time allow the real participants to have certain level of control rather than being at the mercy of a platform or whales who may have a very large stake in AAG.

Jack Vinijtrongjit – Will Not DM First: We will release the exact mechanics in the near future.

Andrés M. | Satoshi Club: Is needed a minimum amount of tokens to participate?

Jonah 🏅🎹 | Satoshi Club: This to me is a more Effective solution than having a Single DAO

Jack Vinijtrongjit – Will Not DM First: There will be a small minimum with a multiplier depending on length and level of participation.

Yes, one size fit all doesn’t work here for sure.

Jonah 🏅🎹 | Satoshi Club: And will this also be subject to DAO decision in the future?

Andrés M. | Satoshi Club: Btw, you told us that your IDO is coming soon, could you provide us more details about the initial token price and initial market cap?

Jack Vinijtrongjit – Will Not DM First: Yes, we intend to let our community help shape and form our directions going forward.

We are planning to release more information about this in the next few days. It will be based on 2.75% of total supply.

We will let everyone know as soon as we have the final information.

Q6 From Telegram User @Asela1112

By the start of 2023, AAG Ventures aim to reach 20,000 Scholars to their ecosystem with implementing 3000 Scholars for the Foundation. What is this scholar foundation & What is the purpose of it? What are the events that scholar foundation organize & involved in AAG Ventures platform? By the way, How will you commit the 20,000 scholars for your platform? Do you follow some marketings plans or campaigns for this? If yes, Tell us what will be them So that we can also participate on those events?

Andrés M. | Satoshi Club: Thank you, don’t forget to share the coming announcements with our community😃

Jack Vinijtrongjit – Will Not DM First: Our non-profit foundation is also a guild. However, we plan to put back all the profit and use it to keep expanding the operation. We are planning to use part of the profit to fund non-profit initiatives around the world. Imagine a non-profit organization that doesn’t rely on external resources. We can choose to become more innovative and not be restricted by certain requirements. We also want our community to be a big part of this. You will be able to nominate or start your own initiative. We think this is going to impact a lot of lives around the world.

As for scaling to 20k scholars, we can actually do that even today. Our formula supports horizontal scaling, it’s just a matter of capital. Our queue of scholars is so huge and we never even spent a dime on advertisement,

Andrés M. | Satoshi Club: @juminoz thanks a lot for your clear and amazing answers, it’s a big pleasure to have important crypto personalities like you with us. We have enjoyed a lot this first part of the AMA but now is time to proceed with the live segment and interact directly with our community😃🥳

Jonah 🏅🎹 | Satoshi Club: 👏 Excellent Idea

Part 2 — live questions from the Telegram community

Q1. from telegram username @Chrisboy5

Do you plan to add more team members to AAG project? And what programs do you have for the community to participate in?

Jack Vinijtrongjit – Will Not DM First: We have a unique approach here. Our Project Titan allows us to bring in external developers to join our ecosystem and monetize on their work. So instead of having just 10 developers in engineering, we can potentially have 1000+.

Q2. from telegram username @Gemshunter22

Many projects dont likes to talk about platform security. How secure is your project and can you mention have you done any audit or not?

Jack Vinijtrongjit – Will Not DM First: Security is the top priority for us. In the coming weeks, you will see many partnerships we have in this area. From our own data, 95%+ of people are non-crypto people in Play-To-Earn space. Leaving them to deal with potential hacks and scams themselves is not what we want our users to go through.

Q3. from telegram username @barisbektas1

What kind of relationship do you think there is between DeFi and GameFi, is it positive or negative? Can you share with us the approach of the AAG platform to DeFi and what you think about DeFi?

Jack Vinijtrongjit – Will Not DM First: DeFi will certainly be an important component in GameFi. I can give 2 quick examples on this.

1) Lending. If you are an investor in NFTs and you do not want to deal with the hassle of deploying them yourself, you may choose to do it through smart contracts and then allow a platform to manage it for you and just collect the yield. This is similar to when you stake your coin/token on Celcius or Binance for example.

2) Investing. NFTs are expensive. If you want to invest only $100 for example, you are out of luck with those legendary NFT that can be over $1m. What we are planning to do here is to allow anyone to fractionally own a piece of NFT. So if an NFT is worth $1000 and you invest $100, then you own 10% of it and the profit from either from farming or selling will be split according to that. This will allow anyone to be able to invest maybe even with just $1.

Q4. from telegram username @surendra040

How can we participate in scholarships and how do you assure that it will be fair and transparent ?

Jack Vinijtrongjit – Will Not DM First: You can submit your application and we will evaluate based on some key factors such as hardships, etc. After all, we are here to help people in need.

Q5. from telegram username @Emidm28

You mentioned that managing a team of scholars is not an easy task. And I agree. What strategies does AAG Ventures use to facilitate this process for the AAG Ventures team as well as scholarship users? How can scholars monitor and optimize their own performance?

Jack Vinijtrongjit – Will Not DM First: We first need to understand many aspects including dealing with cultural differences. We literally come up with a process flow for each type of demographic so that we have at least a 95% chance of success even we go into a new market. We intend to bake that into our platform and allow everyone to benefit from our exppertise.

Q6. from telegram username @Xusuo

im still confuse with meaning from AAG name, could you tell us about the meaning from AAG name and why you choosing this name ?

Jack Vinijtrongjit – Will Not DM First: AAG = Achip & Achair Guild. It’s basically based on a story of the 1982 world series of poker where the player only had 1 chip left and his seat at the table. Because he didn’t give up, we ended up winning the whole tournament that year. This resonates with us, especially with our co-founders in the Philippines. That’s the origin of the name.

Q7. from telegram username @Asela1112

What are the criteria to be selected as VIP member? Can I become as a VIP member?

Jack Vinijtrongjit – Will Not DM First: 3 ways:

– Support our guild by being an early contributor so that we can expand quicker into a new game

– You can purchase it off another VIP member

– Giveaway campaign that we will run in the future.

Q8. from telegram username @captainprice111

Are communities important for AAG? What does the AAG platform do to create a strong and solid community? Do you have a study for those who do not speak English, can you share with us if you have accounts where we can get up-to-date information?

Jack Vinijtrongjit – Will Not DM First: Communities are very important to us and that’s why we choose to have boots on the ground in every country. We want to treat them well and that includes understanding that people can come from different backgrounds and experiences and that they all should be treated fairly.

Q9. from telegram username @Wong2008

Can you explain to us what is the Scholarship Payout Manager?

Jack Vinijtrongjit – Will Not DM First: Payroll is a very tedious process in Play-To-Earn especially for a large guild like ours. Paying 2,000 can easily take like 3-4 days because games do not typically provide a good infrastructure for it. That’s what we are intending to streamline with SPM.

Q10. from telegram username @cenkkargin0666

Does the AAG platform have a simple to use interface? Can crypto beginners benefit from the AAG platform?

Jack Vinijtrongjit – Will Not DM First: Yes, we intend to make it very user-friendly so that anyone regardless of demographic of experiences can use it.