AAG Ventures is the technology company behind AAG (Achip & Achair Guild), a growing game guild in the Play-To-Earn (P2E) blockchain gaming sector.
The General Manager of Altcoin Buzz, Anindya (Ani) Baidya, anchored the AAG Ventures AMA session on our Telegram channel with Jack Vinijtrongjit, the CEO of AAG Ventures. Besides, the AMA took place on December 11th, 2021.
Below is a recap of the AMA session with Jack Vinijtrongjit to understand the technology company. The AMA was also in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to AAG Ventures
Background Information
Q – To start with, tell us about your company. How was the concept of AAG Ventures created?
Sure. Let me first give a little context by giving me my background. My background is in enterprise software specializing in building scalable software infrastructure and integration. I have been in probably seven+ industries, and now my focus is back to the blockchain space I have been around casually for the past five years or so. I believe blockchain tech is amazing, and I’m always amazed at what people come up with.
Our project started as a guild, just like everyone else. However, we quickly realized that there’s a lot of low-level operation work that can be automated.
We then looked into all the components and stakeholders in the space, and we saw that this is an opportunity to build a platform so that we cannot just allow ourselves to become more efficient but also enable other guilds to be able to grow without having to have too many resources on the operation side as well.
Q – How many team members do you have? Where are you based out of?
AAG Ventures team represents 17 countries and comprises 15 full-time and 45 total members.
It includes boots-on-the-ground in SE Asia and LATAM, crypto natives, and veterans of Silicon Valley and Wall Street. The team consists of 80+ years of combined software and operations experience (incl., Google, JPMorgan, TIBCO, and McKinsey).
Segment 2: Deep Dive
About the platform
Q – AAG Ventures is a Guild. ‘Guild’ is a hot trend that we see in the market. Would you mind explaining to our community what a Guild is?
A guild is essentially an eSport team. The unique thing is that guilds give out what we call “scholarship,” which is a set of NFTs to our “scholar” (i.e., player) so that they have access to play a game. As these scholars play the games, they earn in-game tokens, then split as part of a profit share scheme.
Scholar typically earns anywhere from 50-75% of that, depending on the guild policy.
Q – Okay, so the Guild ideally purchases the in-game items. How do you manage trust between the Guild and the scholars?
The mechanic is simple. You don’t send the NFTs to the scholars but lend the rights to use to them. This way, you are not running the risks of losing your NFTs if the scholar decides to run away with it because they just can’t. That’s why this business model works.
Q – Specific to AAG, we wanted to understand the Ecosystem Model. How does the end-to-end workflow work? What’s at stake for the token holders? I saw a design on your website. Would you like to elaborate?
We connect all the stakeholders and become the backbone of P2E, as you can see in this image.
The idea is that we abstract out the complexity of integration with everyone. Imagine if you want to allow your scholars to play ten games, which have tokens sitting on ten different exchanges. That’s 20 integration points. If there are 1,000 guilds, that balloons to 20k integration points. It’s non-sense to us that everyone will be doing the same work, so we decided to use our expertise and help reduce this spaghetti mess so that anyone can plugin to us and have a full range of features.
So what does that do to the token holders? AAG token is a utility token, and our platform utilizes the token heavily. As the demands grow, there will be a lot of tokens cycled through our ecosystem and generate more value at the same time.
Q – This architecture looks like you need to create a strongly integrated platform. How is the platform development looking like?
You may have seen our infrastructure layer called project Titan. What we do is we make security, scalability, and extensibility the foundation so that our developers or external developers who create monetizable apps on our platform don’t have to worry about the basics.
We even go as far as creating a cloud infrastructure to guarantee the SLA (service level agreements) for larger guilds that don’t want to be disturbed by sudden outbursts of traffic from other guilds, for example.
Q – How do you, onboard scholars? Can anybody become a scholar? Or is there a curation process?
We have very specific criteria because of our mission to help people. We prioritize people with hardships, especially when they need medication or are suffering from Covid. People normally think that you need to have gaming skills, but we are so confident in our training system that we can coach anyone to become a pretty good casual game and allow them to earn some serious money in comparison to the minimum wage in their countries.
Q – That’s a very noble cause. How can some member of our community (if suitable) apply for the scholarship?
Go to our Facebook group for Achip & Achair Guild, and you will find the application form there. We also have it as part of the Rose bot’s message on our TG channel.
Partnership and Future Plans
Q – Now, coming to another essential aspect, partnerships. Do you partner with big games also? What are your most important partnerships?
We have six game studios as investors (1 chose not to be mentioned). For example, these are the big names like Vulcan Forged, Thetan Arena, and Sipher.
Since security is essential to us, we also have four security partners, and some of their techs are baked into our token contract or the infrastructure layer themselves.
We are also the first project to receive backing from Harmony Protocol since they announced their $300m ecosystem fund.
We also have backing from some of the most prominent guilds in the world.
Q – You are going to launch on December 12th in Copperlaunch. Why did you decide to choose Copper and not any other IDO platform?
It’s because we want it to be a fair launch. Look at what happened to YGG. They launched it on MISO, and only 32 wallets could get in. Copper Launch gives a mechanism to fight bots so they can snap up the allocation at the beginning as long as you set it upright and not like those that came before, like GuildFi. We intend to make it as fair as possible and allow the market to dictate the price.
Price discovery will happen during the IDO itself.
Q – How many days will the auction run? What will be your start price and floor price?
Three days starting at $4.14 with floor price at 4.3c. We have no idea where it’s going to go. I guess we will find out in just over 24 hours.
Segment 3: Community Questions and Answers
The five best questions were rewarded with USDT 500 each from this segment.
Q.Telegram – Can you list the features that your project has and other similar projects don’t, and Can you convince me to invest in your project compared to others similar to yours?
First of all, our scope is much larger than everyone else. The AAG strategy has four pillars:
- Launch THE P2E platform. This platform will provide “picks and shovels” for guilds and be the backbone for P2E. Features that will go into beta in 22Q1 include wallet security, payroll automation, and performance management.
- Launch the world’s first Learn-To-Earn (L2E) platform. L2E applications will pay participants crypto for learning transferable skills (e.g., math, programming, or even how to build the Metaverse) through a gamified experience. Features from the P2E platform will accelerate this pillar.
- Expand the AAG Guild, which will allow us to generate immediate economic impact, expand across the globe (from 7 to 20 countries), diversify across games and gain first-hand insight into building the first two pillars.
- Stand up the AAG Nonprofit Foundation, which will allow us to execute initiatives that focus on creating economic freedom without concern for generating profit.
We also have the infrastructure layer ready, and we can even offer to other guild or guild platforms to build on top if they choose to.
Q.Telegram – Can you give an overview of your Tokenomics and the utility of your token?
We have 1B token. You can find the breakdown on our website. Here are some of the utilities that we have published:
- Acting as a universal currency for Play-To-Earn (P2E) games and Learn-to-Earn (L2E) applications
- Acquiring fractional ownership of GameFi NFTs
- Paying for AAG Platform’s cloud services
- Paying for scholars to play and generate a yield from idle NFTs
- Voting rights in any of the DAOs
We have more utilities planned for the future, and we will expose them as we are ready.
Q.Telegram – During these days, being a Multi-chain platform is an obligation to be considered a competitive project, so can you explain how many chains you can support?
We project that we will have to support a minimum of 12 blockchains. We are working closely with Harmony Protocol to bridge between them. This isn’t limited to just tokens and NFTs, but smart contracts.
The Altcoin Buzz community gratefully thanks Jack Vinijtrongjit for participating in the AAG Ventures AMA session on December 11th on our Telegram channel.
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