KingSpeed is a play-to-earn (P2E), free-to-play (F2P) blockchain NFT racing game.
The General Manager of Altcoin Buzz, Anindya (Ani) Baidya, anchored the KingSpeed AMA session on our Telegram channel with Cherry K, the CMO of KingSpeed. Besides, the AMA took place on December 14th, 2021.
Below is a recap of the AMA session with Cherry K to understand what the gaming platform is about. The AMA was also in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to KingSpeed
Background Information
Q – To start with, tell us about your company. How was the concept of KingSpeed created?
Yes, KingSpeed – Virtual NFT Car Racing Universe. KingSpeed is a complete NFT car racing ecosystem where you are FREE to participate in car races, build your own NFT land track, and make a profit while playing it.
The plot of the game is inspired by the end of the world. As the weather becomes more severe in the future with extreme phenomena like earthquakes, tsunamis, and volcanic eruptions occurring frequently – race tournaments are held to find the best and most fuel-efficient cars that can withstand different weathers and terrains.
Q – Tell us a bit about your team. Where is the team based out of? How many people do you have on the team?
Yes, I believe this is a question that many people are keen to know about. We have game advisors to advise us about game development. We also have a close connection with founders/CEOs of successful projects such as Wanaka Farm, Faraland, Oraichain, Kyber Network, and so on. They often give us advice to develop KingSpeed.
Our KingSpeed team also includes a diverse range of individuals with extensive experience in the fields of blockchain, gaming, and design. Around 20 members are working in KingSpeed now from the blockchain team, game team, marketing team, and art team.
In October, we also worked with some reputable backers such as Dext Force Ventures, Gamestation, Oxbull, Basics Capital, and so on.
Segment 2: Deep Dive
About the Project
Q – You just spoke about the gameplay; the weather has a huge impact. You also spoke about fuel-efficient cars. Are these in the form of NFTs? How do they really work?
Yes, our NFTs are NFT cars and NFT race tracks. When you buy an NFT car, it will come with different specifications, different rarity, including one factor that is fuel economy. If you own that car, you will go a long way without refueling and will increase your chances of winning.
These are the first two models of NFTs we will launch and sell in limited quantities:
Q – How about the NFT race tracks. How do they work? Are they limited?
Of course, our NFTs are all releasing limited editions. When you own the race track, you can charge people to race and have a very good income.
NFT Race Track owners will collect money from players when they enter the race. And it’s on limited sale.
Q – I am guessing the KSC token is the driving factor of this economy. How do I get hold of these NFTs? Can I mint or do I need to go into the secondary marketplace?
We will have an upcoming INO event on Launchpad around the end of this month. You can buy on it to get a good price or participate in staking on our staking system to get tickets to buy an NFT or be given away if you participate in the long-term staking package.
You can visit our community for details.
Q – Is the INO launchpad disclosed yet?
Maybe I’d like to keep it a little secret about the INO launchpad. We’ll reveal it closer to the INO event. A little surprise for our users.
Q – What are the different types of races a player can participate in? How is the free play different from playing with NFTs?
When you join the free play, you will be able to claim one of our common cars and race. This will allow you to participate in races with nice weather and simple terrain.
The different types of races a player can participate in:
- Time trial: the top leaderboard players will be rewarded accordingly.
- PvP multiplayer race: players will be divided into different ranks and will be rewarded at the end of the season.
- 1v1 race: two players will put in the same amount of KSC token, winner takes all.
The difference between free play and playing with NFTs:
- Free playing: Players will be given an NFT with average skill to participate in racing tournaments but limited to the racetrack. The experience is still good but not complete.
- Playing with NFTs: You can buy or upgrade your NFTs, have the right to choose different race tracks, and experience the full features that the game brings.
Q – Do you have scholars who run in the races? Are guilds involved? Is there a potential to form teams?
Yes, you can play with friends, race between groups, or play with random players.
Q – How do you ensure that you are not racing against bots? Is there any prevention mechanism in-game?
The KingSpeed team and developers will release a test version and do A/B testing. This will help detect bugs or prevent bots from ruining the racing experience and will be as fair to the players as possible.
We will have anti-hacking and anti-cheat mechanisms to ensure fairness for players.
Q – KingSpeed held a successful IDO and has recently released a staking mechanism, and you will be bringing out NFT Boxes soon. What more does the future hold?
The STAKING system will be launched in the coming weeks. We are currently in the testing phase and will conduct extensive testing prior to launch. We will have rewards for those who join soon. So, if you don’t want to miss out on the latest news, follow @KingSpeedglobal.
You can refer to the following link.
In the future, KingSpeed will develop a Web game, NFT characters, PvP mode, Renting System, Prediction System, and Mobile Game release. All will be completed in early 2022. Stay tuned.
Segment 3: Community Questions and Answers
The five best questions were rewarded with 500 USDT each from this segment.
Q. Twitter – Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for long-term and what is your plan to increase the demand and scarcity of the token?
Yes, very good question. This problem currently has two solutions.
- We design our tokens to have strong inner values like to:
- Purchase certain types of collectibles.
- Utilize as fuel to open loot boxes.
- Use to rent NFT cars.
- Use to participate in a prediction game.
- Stake and participate in governance votes, give users the incentives to hold the token.
- Use as a reward for completing certain actions or achievements in-game or winning a race.
- Use as a fee to compete in the 1-1 racing game.
- We use one part of our revenue to buy back tokens. We believe it will benefit long-term investors.
Q. Twitter – The players will be matched with the same tier or level player, if the server doesn’t have a player to match at that moment. Are there chances of a mismatch between a higher rank and lower rank player?
Interesting question. To be honest, currently, we haven’t done a rank calculating system that categorizes players by tier yet. We are more focused on making a racing game that brings to users the smoothest and most joyful experience.
In the future, after we officially launch the game, we will analyze the feedback from communities to improve our matching system. Besides, KingSpeed applies a play-to-earn model, which means the more you play, the more you earn, and the more you earn, the more you can upgrade your cars to race faster and easier.
Q. Twitter – KingSpeed is a racing game at its core. What is your strategy to attract millions of users who don’t like racing games? And when will the full game release, next year? When will the iOS and Android versions be released? Is the current version only playable on PC?
Regarding not liking racing games, I believe it is a personal preference. The internal development of the game, such as the plot, concept, graphics, and application of the Token, is the focus of KingSpeed’s team. I believe this will be beneficial to those who are genuinely interested in KingSpeed.
You can stay up to date on the latest information by joining here.
Yes, we will be on iOS and Android, that’s for sure.
Currently you can play the demo here.
Q. Telegram – Do you have a token burning plan to increase token value and attract Investors to invest?
There are two ways to comprehend the burn mechanism:
- The project will burn tokens by sending tokens to an address where no one has the private key. With this understanding, KingSpeed currently does not have a plan in place for this.
- In order for players to pay with tokens in the game, KingSpeed has a mechanism to burn tokens such as:
- In order to open loot boxes containing car parts or cars, players must pay tokens.
- When renting a car, players must pay tokens.
- When participating in the game, players must pay tokens in order to predict the outcome of each race.
- Also, when participating in the game challenge racing 1-1, players must pay tokens.
Furthermore, KingSpeed intends to reduce the market’s circulating supply by repurchasing tokens with a portion of the proceeds. In addition to launching the staking feature in the near future.
Q. Telegram – Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and Investors to your platform and keep them long term?
This is a very good question, and also a big one for us. I can’t share it all with you right now. But I will give some of the main strategies for global expansion:
- We have free-to-play to onboard more users.
- We plan to partner with successful projects like Wanaka, Planet Sandbox, Faraland, … to onboard new users from their communities.
- AMA on local communities. We connect with partners in countries to have native communities and use their language.
- Work with more KOLs/streamers in local communities.
Community is a factor that KingSpeed prioritizes and strives to build at all stages of the project. Our top priority is community building and listening to community feedback.
Currently, we have two big events. You can refer to the following links.
Latest Airdrop Event – link.
STAKING SYSTEM – link.
The Altcoin Buzz community gratefully thanks Cherry K for participating in the KingSpeed AMA session on December 14th on our Telegram channel.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by KingSpeed. Copyright Altcoin Buzz Pte Ltd.
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