Q1: Can you briefly introduce yourself ?
And also can you have a brief overview of the Rage.Fan project?
I am Satheesh, the CEO of Rage.Fan platform. We are on a journey to decentralize and democratize the fantasy sports market – a market that allows people to use their knowledge and skills to predict actual performance and win from that knowledge
I have been in the tech industry for the last 25 years and for the last 4 years in the blockchain space. Last, I was the Business Leader for PlotX, a prediction market for crypto assets
My name is Vivek Kumar. I am the Marketing Head here at Rage. Fan. I have been in Industry for last 7 years and I am an MBA graduate.
So, Rage.Fan is a fan-first on-chain fantasy sports and quizzing platform built on blockchain technology. Our vision is to completely decentralize a mainstream centralized fantasy sports ecosystem.
$RAGE is ERC20 standard Rage.Fan native token and comes with several utilities viz. as a game currency; for staking, governance, play mining, referral mining, virtual mining, and social media mining.
These are the initial set of utilities and we will keep adding more and more on need basis. Additionally, we would also encourage fans to please feel free to express their opinion and we will try to incorporate those as per feasibility.
Lastly, to note that Rage.Fan is itself not a game but a platform that will connect virtual & online players to real world player performance and enable a much deeper interest & understanding of the sport by the fans.
So when you are playing on the Rage.Fan platform you are using your knowledge and skills about the real world players and are forming and envisioning the best team possible from the player group and in essence predicting what will happen in the real world game.
So, that sums up the overview of Rage.Fan
Q2: Next question about rage.fan, most of the current sports games and live quizzes at the website are quite boring so how are you improving the fun on the game? Will NFT tokens be issued?
Agree and sports games should never be boring!
To keep the fun element alive, first and foremost we are aiming for a great user experience. Secondly, there will be huge game coverage. We will start with sports like Cricket, Kabaddi, Football, Wrestling, etc. and then in subsequent stages will be bringing in e-Sports (Counterstrike, FIFA, PUBG, etc.) and RPG mobile games also to the platform.
$RAGE will be offering a huge set of utilities and we will keep adding to it. The extent and the ways of rewarding are also phenomenal. Staking, Yield Farming, Referral mining and Virtual mining are the provisions made to incentivize fans. We will also be bringing NFTs in fantasy sports. PlayAlong pool and Virtual Mining inspired by Pokemon Go will further add to the feature portfolio.
So, all this will add up to make the sports games engaging and overall provide a great user experience to fans.
Q3: Also the recent erc20 network has a huge cost, do you think that is a big obstacle for users to join? What are the problems that Rage.Fan is solving at present?
So, I will try to answer this in 2 parts as it has 2 parts.
Not really! There are 2 aspects to it.
First, our built-in blockchain technology will facilitate complete transparency and overall cost reduction. To speed-up network transactions, we will be partnering with some of the latest solution providers. We have also brought-in a queued chain network model that allows for addressing transaction management very efficiently. We will be coming up with more details on this soon
Second, we are returning back to the fans a lot in the form of rewards – Staking, Yield Farming, Referral mining and Virtual mining are the provisions made to incentivize fans.
So, overall if you see benefits comes in the forms of transparency, reduced cost model, fan influence provisions, rewarding and portfolio of innovative features.
On the 2nd part of the question, fundamentally we are addressing issues around:
— Opaque transactions processing and settlements:
When it comes to gaming apps, there is absolutely zero visibility for fans in terms of points calculation, pool formulation, transactions or rewards distribution. This model is what is known as “house-driven”, and suffers from lack of transparency and visibility.
— Escalated cost models:
Fees charged by fantasy sport platforms are extremely high, which significantly increases the entry barrier for sports enthusiasts. Even worse, they eat into the rewards earned by the participants. There are also countless cases of platforms charging fees without any transparency. Every such incident reduces the amount of trust that players can put into the platform.
— Lack of fan influence:
Centralized fantasy sport platforms allow little or no voice to fans when it comes to the running of the platform. This creates an imbalance in the power structure, allowing platform operators to have full control of the decision making. Ultimately, the platform ends up putting the interest of the operators and owners over that of the fans and participants.
Solutions to all this with a great fan-delight experience
1. how you gave us an overview of the $ RAGE token token; what are usecases and what models are; how is this incentivized and how does the mining program work? Does it include rare paths like burns, buybacks, storage to help promote token
$RAGE is Rage.Fan standard ERC20 native token which comes with the following benefits:
— Game currency: Use $RAGE to participate in fantasy games on Rage.Fan platform
— Staking: Stake tokens and thereby earn higher returns
— Governance: Participate and actively contribute in decision making through community votes
— Play Mining: The more you play the more you earn. Simple!
— Referral Mining: Spread the word, refer others around you and earn $RAGE
— Virtual Mining: Participate more and more in virtual games & activities and earn $RAGE
— Social Media Mining: Incentivize social media influencers for spreading the word
Most of the utilities as you can see drives incentivization for fans. In the coming time, we will be coming up with more detailed articles on each utility. So, keep following our media handles.
2.Rage Fan aims to challenge the status quo with a fan-first model built on Blockchain using demonstrably fair algorithms. Exactly what kind of algorithms do you use for this purpose? Who designed those algorithms? What makes them “fair”?
The reason we call it “fan-first” is because it is one of the very core problems that we are trying to address.
In today’s online fantasy sports ecosystem, the existing centralized fantasy sport platforms allow little or no voice to fans in the operations of the platform creating an imbalance in the power structure and allows the platform operators to have full control of the decision making. We want to address this through one of the core utilities of $RAGE with dual purpose of “play system” and “community governance” using which fans can participate and actively contribute in decision making through community voting.
All the features are immutably recorded in a public blockchain and easily visible to all. The idea is to move from what we call as a “house-driven” approach to a “fan-first” model.
3.I think 2021 is an important year for cryptocurrencies and blockchain. What are your prospects for this year for cryptocurrencies? What are the benefits of holding and staking #Rage ?
So at a global level, a lot of good things are happening in crypto space like:
— A recent announcement in the US allowing banks to use public blockchains and dollar stablecoins as a settlement infrastructure in the US financial system
— Elon Musk’s investment in bitcoin
— Bitcoin’s recent market cap of $1 Trillion
— Mastercard is planning to give merchants the option to receive payments in cryptocurrency later this year
— Bank of New York (BNY) Mellon planning to begin financing bitcoin and other digital currencies
So, what we are essentially seeing is that countries, governments, and rules at global level are adapting themselves. Businesses are opening up and making provisions to accommodate digital assets.
So, we are seeing a positive outlook not only in 2021 but in coming times also in general.
4.$RAGE Marketing is an essential element of every project, so everyone knows the potential that a project can generate. What is your strategy to attract new users and investors and maintain it in the long term?
Our core focus is product excellence and user experience. If we can deliver really good value to users, word of mouth will automatically follow. At the end of the day it should bring something to the table.
However, having said that, we are utilizing all marketing capabilities in terms of social media, telegram, online mode and other channels. In the coming time we will be expanding our marketing push to more mediums.
To attract new uses and investors – we need to keep delivering in terms of good robust product and a great user experience.
We will be offering a lot of features with the launch and in subsequent phases will be adding a lot to it in terms of types of game coverage and features. So keep following our media handles.
We understand the importance of marketing and the need to get some of the best folks in the industry to collaborate and work with us. We are actively bringing on board leading advisors, marketing guru’s and networking with large communitiies and KOLs to bring our story to the larger teams and the crypto community
5.Are the games presented on Rage Fan entirely yours? Do you have your own development team? Or can anyone create their own game?And Is there such a feature on your platform?
We have partnered with some of the pioneers in the fantasy game development space who are helping us out with this. Apart from that we also have our own team who is working on it to really bring out a cool product very soon.
If by saying “create your own game” you mean creating contests then yes, that you will be able to do. But if you mean using the platform for creating your own custom play games then that we have to assess.
Live Question From Community:
1.your marketing department should have a strategy to improve brand awarnesess, visibility and loyalty among client and prospects, whT is rage fan social brand strategy?
This is an important focus area for us and where we believe we will differentiate ourselves well. We have brought on board brand advisors and community evangelists and are in the process of designing an ambassador program as well to address and grow ourselves organicall
2.Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?
We have outlined in detail about our 2021 vision in our website. I would encourage you to please visit https://www.rage.fan
Thank you for asking.
3.What does RageFan plan to do to attract more users in the upcoming time?
Keep delivering good features and delivering a great product experience. As we said earlier also, the idea is to keep it relevant, fun and engaging.
Thank you for asking.
4.Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?
This is an excellent question – The team has focused on an area of challenge and opportunity that is long term and something that will always exist. Any project that I have picked up in my prior life has always been about longevity, long term self sustainability and building a community and user base that will keep it live long after the initial creators have even moved on. It is about structuring and enabling a well articulated market opportunity and make it good for the whole community
5.What is the most outstanding feature of the platform? Could you clarify the use cases of that feature?
Outstanding depends upon user perspective. However, you can visit to official website https://www.rage.fan/
Additionally, we have come up with initial article: https://medium.com/@ragefan/rage-fan-the-future-of-fantasy-sports-384c799660e5
Apart from that we will be coming up with detailed pieces on individual features. So, keeping following our media handles.
Thank you for asking.
End of AMA Summary, Thanks Rage.Fan project for trusting and organizing AMA with us !!
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