Reza / DAOLaunch: Welcome Michael to daolaunch community. It’s great to have you here.
Michael/ LOG: Hi everyone, I’m Michael Nguyen, LoG CEO & Co-Founder. It’s a pleasure to join the sharing session with you today!
Reza / DAOLaunch: Kindly explain about the team and your background of the LOG?
Michael/ LOG: Firstly, I would like to talk about Legend of Galaxy, it is an appealing blockchain game with personalized NFT integrated in LFW GameHub - a part of the LFW Ecosystem toward a true metaverse for the community. Players can recruit more than 100 unique heroes to battle the evil and claim their territory in a cosmic theme world.
The team of Legend of Galaxy is very experienced in game development as well as crypto projects, incubated and advised by LFW. The collaboration has been proven to be fruitful by the project Legend of Galaxy itself.
Our team consists of:
Michael Nguyen, CEO & Co-Founder.
Dr. Ken Hunt, a blockchain enthusiast with 8 years of experience in sustainable system design, product development, and entrepreneurship.
Dr. Xavier Taylor, an MS, PhD and MBA. He is also a founder and director of a research lab focusing on Artificial Intelligence utility and application.
The team also has other talented members who have contributed to the project since day one to turn our idea into reality.
Reza / DAOLaunch: How much experience in crypto do you guys have? 5+ years?
Michael/ LOG: yes, I have then been involved in the digital asset ecosystem since late 2016 and have worked and advised on market development strategies for various blockchain projects. I have participated in market development in many countries in Asia such as: Indonesia, Philippines, India, Arabia, Cambodia… I also participated in many trading and crypto events in Dubai, Thailand, Vietnam, Singapore and Hongkong…
Reza / DAOLaunch: What is the one thing that makes LOG unique?
Michael/ LOG: Firstly, game-wise, the reality in the game industry is that modern game projects are often boring and have similar gameplay, which brings very little value in terms of entertainment to players. Therefore, we focus on those elements to make the game more thrilling and rewarding to our players, giving them a sense of achievement and satisfaction. Secondly, most projects are hindered by the barrier of substantial upfront investment and transaction fees. But with the support of Linked Finance World, we believe this is no longer a problem as our users have the lowest transaction fee across all DEX while enjoying the smoothest gaming experience. Here is our official trailer, take a look: [OFFICIAL TRAILER] Legend of Galaxy ☄️ An Incubated P2E by LFW Ecosystem - YouTube.
Reza / DAOLaunch: Trailer looks so good. I love that game and financial innovation in one. Please share a little bit about LOG tokenomics?
Michael/ LOG: Legend of Galaxy has only raised the most necessary funds for Product Development and to help the GAE ecosystem grow sustainably, bringing more value to users through our mainstream products. All allocation for Team Members, Advisors, Partners and Foundation tokens are locked for at least six months while the rest of the tokens are allocated to the community via Token Sales, Bounty, Airdrop, Liquidity Provision and rewards as well as Marketing activities.
Name: Galactic Azurite
Total supply: 500,000,000 GAE
Network: Binance Smart Chain
Smart Contract Address: TBA
Inflation is one of the chronic problems that most current NFT games inevitably have, requiring team developers to tackle it with a variety of realistic approaches. After becoming aware of this ongoing issue, our members did in-depth research and promoted a proper anti-inflation system, which resulted in keeping the in-game experience between players, balance and maintain a sustainable economy in LOG. You can read more about $GAE in our Whitepaper here: https://docs.legendofgalaxy.io/.
Reza / DAOLaunch: That’s a great point, often supply of token exceeds demand of token and the price goes down. What’s the initial market cap?
Michael/ LOG: It’s not yet been listed. Follow our channels for future updates.
Reza / DAOLaunch: Please share your launch schedule, how long after TGE will you release your product?
Michael/ LOG: LOG is present on numerous launchpads and currently in the progress of an IGO. The project is finished and ready so we expect to release it right after TGE.
Reza / DAOLaunch: What incentives do you offer for your easy adopters?
Michael/ LOG: The most straightfoward selling point of LOG is its low entry cost as well as fast ROI. Moreover, public sale results in 100% of tokens unlocked at TGE for users to join IDO, so the game can be played immediately following that. Last but not least, the game is very friendly and simple, so that’s a plus.
**Reza / DAOLaunch:**100% of tokens unlocking is very nice. What does 1 year time look like for Log?
Michael/ LOG: We have mapped out what we plan to do with LOG and I’m glad to share it with you guys. First of all, we will implement more and more new features in the game to make it more challenging and rewarding to our players. Secondly, we want to gradually upgrade the game itself, such as graphic, gameplay and other quality of life. More importantly, we will try to maintain the ecomony of the game to suppress inflation as well as guarantee security for our players. Along with all those elements, I believe that LFW will grow and carry us on their wings, not something too far-fetched, is it?
Reza / DAOLaunch: Inflation + security are the two most important things to get players i believe. Just take a look at axie the last week… devastating. Please share one cool thing members of your team has done.
Michael/ LOG: We have figured a defiationary model, which is expected to bring balance to the game as well as provide our players with sustainable profits over time.
As for Axie, I think their fate has been sealed after the incident. But it’s just a long overdue matter, inflation has been having them in its grip for a while.
For many GameFi projects, inflation is a big question that gives lots of people headaches. But LoG has developed a deflationary mechanism, in which every selling transaction made with the GAE token will be charged with an 8% fee.
For example, if somebody is making a transaction of 1,000 GAE, they will pay 80 GAE as transaction fee. The 8% fee will serve as LoG’s deflationary mechanism and it is broken down to three different sections: 4% distribution to holders, 2.5% automatic liquidity pool and 1.5% burning.
Combined with in-game economy of LoG, which limits and controls the generation of NFT, we believe inflation will be kept at a minimum level in LOG. This model will be published soon, you can follow our channels to be up-to-date with everything.
Reza / DAOLaunch: Please share about your partners and backers.
Michael/ LOG: We have an amazing incubator, who is LFW Ecosystem. We don’t have to say much about them because we all know very well about their achievements and all. Beside LFW, we have 04 more partners who contribute to our launch: DAOLaunch, DareNFT, BSCLaunch, DAOStarter. All these launchpads have very big impact to LOG and have successfully launched multiple projects. So it’s our pleasure to work with them.
Reza / DAOLaunch: We’re happy to support great projects like yours. Final question before we move on to the live segment…. Please share any updates and things users should look forward to, including any screenshots, product videos or interesting facts.
Michael/ LOG: This includes everything we plan to do with LOG in the long run and will try our best to keep track of it. However, crypto world is extremely volatile and evolves rapidly, thus we have to change to adapt and grow. Let’s look at our roadmap.
You can read more about LOG in our Whitepaper here: https://docs.legendofgalaxy.io/
That means we are public about specific timelines. Still, we can also make changes to be more relevant to align our development priorities based on the developer market and resources.
Here is our trailer, take a look: [OFFICIAL TRAILER] Legend of Galaxy ☄️ An Incubated P2E by LFW Ecosystem - YouTube. The gameplay of Legend of Galaxy is built on these main factors: Mystery Box, Marketplace, Combat, Building, Discovery. It is a crossroad game combined with general card role-playing; players will have the opportunity to recruit more than 100 characters divided into 5 races: Human, Beast, Monster, Devil and Fairy and build the most powerful squad to participate in campaigns to conquer new territories in the galaxy.
Reza / DAOLaunch: It’s important to keep building and be flexible in this current market.
Michael/ LOG: To experience the game, you only need to follow a few simple steps, such as registering an account and owning NFTs. Those NFTs are used to complete missions to earn rewards. You can then improve your squad by collecting new NFT heroes in the game and upgrading them. The value of heroes is determined by their rarity, level, star, in-game rating and the items they carry.
Reza / DAOLaunch: Thanks for the detailed responses! Daolaunch users have a lot to read through and help them make an informed decision as whether to participate in this sale or not! We now move on to the live segment of the AMA.
Daolauncher: 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐭𝐡e 𝐫𝐨𝐥𝐞 𝐨𝐟 𝐭𝐨𝐤𝐞𝐧 𝐢𝐧 𝐭𝐡𝐞 𝐞𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦? 𝐖𝐡𝐞𝐫𝐞 𝐜𝐚𝐧 𝐩𝐞𝐨𝐩𝐥𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐛𝐮𝐲 𝐢𝐭?𝐰𝐡𝐚𝐭 𝐰𝐨𝐮𝐥𝐝 𝐛𝐞 𝐢𝐭𝐬 𝐮𝐬𝐞𝐝??
Michael/ LOG: This one is an interesting one! Apart from Legend of Galaxy, there are more products on the way on the LFW Gamehub. As you know, the Gamehub itself will contain various games that are interconnected and one can benefit from the others. This sustainable concept promises to bring various utilities to the platform as well as its products. The game will see frequent updates in terms of features, new heroes and mechanics. More importantly, an NFT Marketplace will be a crucial part of the project, which is a great place for you to trade, exchange and make profits. Apart from the gameplay, we do have an exclusive earning mechanism which gives users a passive income. To incentivize GAE token holders, every selling transaction made with the GAE token will be charged a slight tax of 8% on the transaction value. For example, if somebody is making a selling transaction of 1,000 GAE, they will pay 80 GAE as a transaction fee. The 8% fee is a critical element of LoG’s deflationary mechanism. This fee will be used for three aims: Passive reward to GAE holders, automatic liquidity pool and Locked to tresuary. Together with multiple token utilities in-game, play-to-earn incentives, and the NFT 2.0 economy, we believe that this innovative deflationary model can solve the headaches issues of inflation in blockchain game projects, and maximize the benefits for token holders, who are really the true owner of the game economy.
Daolauncher: To start playing games LOG , how much money do I need? Is it required that I need to have NFT characters or a specific number of $tokens?
Michael/ LOG: To join the game, you will need an NFT, which could be randomly received when you open a Mystery Box. A box only costs under $20, it’s our great deal for you guys. You can get a variety of NFTs, and it will be a surprise! You don’t need to have token to join in the game, but if you had, it can be a “rocket” to push you further and faster.
Daolauncher: Funding is an important part for any project. So I want to know how much funding you raised from the Investor?
Michael/ LOG: Yes, I do agree with this one. We do not have any backers or VCs, neither nor the private sales. We only do public sales through IDO, IGO, which will take place very soon this April. You can buy our token on various platforms, such as DAOLaunch, Linked Finance World, DareNFT, BCSLaunch. You can get all the information about the fund-raising here Official Announcement: Legend of Galaxy Initial Token Offering
Daolauncher: What is your strategy to attract new users and investors to Legend Of Galaxy project and keep them long term because Marketing is a central element for every project, so that everyone know the potential that a project can bring is vital to achieve the goals set?
Michael/ LOG: Our top priority is guaranteeing our players’ benefits. Along with that, we will follow the roadmap strictly so that our players will get what they expect. The game in the early stage is quite simple so we want to make it more complex over time, more challenging and rewarding. As mentioned above, the game is consisted of an exclusive passive income mechanism, which will be more detailed inform in the future, make yourself up-to-date by following our social channels. By the way, once we feel the features are good enough, we will focus on upgrading graphics and other quality features.
Daolauncher: Does your project support staking program? If yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Michael/ LOG: Well, to be honest, we do have plan for staking and farming, but that will be a surprise. You can have a sneak peek here. In fact, our whitepaper has almost every information you can get to know more about Legend of Galaxy. Check it here Gamefi & Metaverse - Welcome to Legend Of Galaxy!
Reza / DAOLaunch: Thank you for your detailed answers and responses. All Winners please dm me your BUSD wallet addresses. Thank you for your time today @Michael_LoGnft, personally I can’t wait for IDO.
Michael/ LOG: Hope the answers I gave could give the community a better look about Legend of Galaxy. Thank you for today’s work, have a good weekend everyone!