There is nothing that comes out of nowhere. There always has to be some sort of foundation, something to start with. We’ve already seen how the blockchain industry was born, as we have seen its ups and downs during its development. As the market matures the players within it have to mature as well. But you can’t expect to see only seasoned veterans – fresh blood is what moves the industry to new heights. For a long period of time now we have seen dApps become a major step forward for the blockchain environment, but there are still too many people having trouble and a lack of experience in dealing with them. That said, we have representatives of the Hyperbridge team here with us now to help us tackle some of these issues. Hyperbridge creates decentralized protocols for the deployment of dApps, so lets talk with them and see what they have to say.
Thanks to agency.howtotoken.com for support in creating this interview (First platform with proven ICO contractors)
Why hello, Hyperbridge team! We are very happy you could join us for this interview, thank you. So let’s begin by asking you about what led you to the idea of creating a platform for software development and distribution? Is this due to some previous experience in the field? It’s also worth mentioning that we can’t find a CEO on your team list. What kind of hierarchy do you implement in the workplace and how does that affect your workflow?
It’s absolutely our pleasure! Thank you for your curiosity in our project. To jump right into it, we saw that there was an apparent gap in an industry we collectively loved: gaming. Though we love a good triple-A title as much as the the millions of people who play them, some of our greatest gaming experiences were with smaller indie titles. Observing the indie game space, we saw that there were a multitude of factors inhibiting the growth of that sector, such as overcrowding or a lack of funding. As some of us are former game developers, we understood that a great number of these projects are self-funded and come with the inherent risk of (despite all preliminary research to guide development), embarking down a development path that users won’t appreciate when the product is finished. And so we went forth and developed protocols that would enable secure crowdfunding and would satisfy game creators. Additionally, we saw huge potential in tokenization to create rarity and value for both developers and users.
As for why we don’t have a CEO, we’re a DECENTRALIZED development studio! Consensus is key and we try to come to decisions collectively. Luckily, we’re generally pointed in the same direction on things, but even the disagreements we sometimes have make our reasonings more robust.
From the short descriptions from various web sources, Hyperbridge seems like a platform for digital application development, but most of the market analyses and examples specifically involves the gaming industry. What is your actual focus?
You’re correct on all fronts. Our broader aims are to have our protocols used across a variety of verticals and industries, but our initial focus is on indie games. These types of games present a rich testing grounds with participants who present a real need for the various features of our platform. Access to funding, the tokenization of assets, and a user-incentivization model coalesce to form a very logical aggregation of features that greatly simplifies the developer experience.
That said, the same aggregation of features can easily be applied to other digital content creation, such as music, video content, charities, and online publishing. The list goes on and we have designs to eventually expand our reach, but our focus for now is on getting it right for games.
You’ve mentioned Steam and other crowdfunding platforms and how they grow so large that they are unable to overcome their problems. While crowdfunding is keeping the public fed with false promises, there are actually some great ideas being realized in terms of distribution (the community-friendly approach of Good Old Games could be one example). What place do you see for Hyperbridge in this highly competitive market? Do you think that the blockchain could provide you with a substantial advantage?
GOG is a fantastic business model, but to the article’s point of DRM being an ineffective means of controlling access, tokenized licenses or Token as a License (TaaL) are technically a more robust system for access management. So in that sense, the blockchain is providing an edge for businesses that seek to use DRM in this way. As for the edge that the blockchain provides in a more general sense, NFTs (Non-Fungible Tokens) and user-controlled crowdfunding as we’ve designed are not only exclusive and achievable via the blockchain, but they also function in such a way that the reduced friction and/or immutable qualities are superior to their non-blockchain counterparts.
While the first part of your white paper was focused on the gaming industry, it’s the Blockhub solution that primarily took hold of our interest. First, how are Hyperbridge and BlockHub linked? Does this have something to do with the micro-economies that Hyperbridge has? On the other hand, how can BlockHub help developers? If one of the main features is a convenient method for promotion and digital product distribution than you will probably need to secure a fair share of the gaming market yourself. How are you planning to increase your pool of users?
To answer this first part of your question, Hyperbridge is an organization that creates blockchain-enabled software solutions, and its first product is BlockHub.
BlockHub will help developers by giving them access to funding if needed and it allows for a collaborative way to promote their products, the ability to sell their products to a supremely engaged audience, as well as tokenize their assets and gamify their audience – through bug bounties or character twists, etc.
Our customer acquisition strategy will involve airdropping tokens to gamer populations by utilizing redemption codes made available to audiences of gaming-specific influencers on YouTube, Twitch, Twitter, and Facebook, as well as attendees of gaming conferences. We will also be publishing exclusive game content that is only accessible via BlockHub. The combination of airdropped tokens as well as exclusive content is anticipated to create a robust initial user base. We will also be spending substantial portions of our fundraising on marketing and the purchase of legacy games with existing communities.
So let’s assume now that there is a substantial community to interact with. How are you planning to manage the placement on the marketplace and the promotion of all those games on a fee-free entry basis? In the case of Steam, there are a lot of weak projects and it’s hard to distinguish between the underrated and outright poor games.How do you plan on solving this issue and do you plan on involving the community into the rating process to help sort those out?
That’s a good and very pertinent question. Yes, a huge hurdle that many developers face is in differentiating themselves from… let’s just call them “games of questionable quality.” The wheat and the proverbial chaff are often mixed together haphazardly and gamers who wade through the muck are often put off by the process. Adding to this issue is unchecked, consequenceless trolling.
Our approach to solving this is to utilize a reputation model that is linked to gamer profiles. This not only dissuades trolling by linking the activity to an identity, but this also promotes positive action. As reputation is a net balance of actions taken, and net-positive actions result in more trust. As trust rises, trustworthy users are given the ability to curate and promote their own playlists. As high-reputation users interact with projects and endorse them, the ratings of those projects rise and their prominence on the platform rises as well.
There is no doubt that crowdfunding has changed the gaming industry as a whole. Most of the greatest indie games were not possible without it, but the current fundraising process definitely has some issues, especially with the prospect of false promises and lack of responsibility. Is BlockHub a place where smart contracts can ensure the promises of developers to their audience? Can the funds become something like an insured loan?
The use of decentralized funding protocols allows us to mitigate or insure against many of the inherent risks one would usually encounter on a centralized crowdfunding platform. The way our protocols have been developed allows for the delegation (to the protocols) of the allocation of the funds to developers, thus significantly reducing the risk of trusting a centralized third-party with the funds. These funds will also be allocated in tranches, so whenever the developer reaches and completes a milestone, the next tranche is released and so on until completion.
How would you characterize the overall convenience of using tokens as a basis for the project’s income and user payments? What they are getting for their projects are actually tokens instead of fiat currency, and many people are not ready to receive payments in that form yet.
We are in discussions with three well-known and highly reputable exchanges, so we will ensure that those developers who crowdfund using BlockHub will be facilitated in “off-ramping” their collected HBX and ETH at very favorable terms. These off-ramps are essential at this point in time, as we expect to have at least two options for developers by the time of our public token sale. As the space matures, the options will increase manyfold. As crypto becomes more and more mainstream, it will also become integrated into both our societal consciousness and into society’s technology. With companies such as Bitpay and others facilitating the use of cryptocurrencies as a legitimate form of payment, as well as the type of mass adoption that we are beginning to see in asian countries, cryptocurrency will become a more common and convenient means of payment and wealth storage.
Now let’s take a closer look at the Hyperbridge token (HBX). Though not every utility token has to be a stable coin, the potential situations of experiencing high volatility might affect users a lot. How do you think you will be able to face that issue? Would you apply some form of price regulation or other action? Also, what fees are you planning to implement and how big would they be? Is there anything substantial we should know about your crypto wallet?
Ten percent of the HBX minted will be held back in a “reserve.” This reserve will be sold to the public only once daily. Also, as we collect HBX from our users, this will be added to the reserve and resold, ad infinitum. We are also (especially in our first year) heavily incentivising the staking of HBX by developers and gamers. This will allow us to manage liquidity and minimize the possibility of destabilizing fluctuations in the price of HBX. We will also support the conversion of HBX into stable coins, so developers can hedge against market fluctuations.
Our fees are designed to be developer and gamer friendly while also ensuring the long-term viability of Hyperbridge:
- Crowdfunding – 2%
- Listing of applications – This will initially only require the staking of a certain amount of HBX by the developer
- Purchase of applications – BlockHub will charge a flat fee of 10%
- In-app purchases – BlockHub will charge a 2% fee
- Trading of items – BlockHub will charge 2%, the developer is free to charge what they like
- Bounty campaigns – BlockHub will charge 2% on incentives distributed to users from developers
Membership/Subscription fee to the BlockHub platform
- This will entitle members to reduced fees, first access to new releases, etc.
- Bundled games and revenue shared among participating companies.
- $5 per month, $10 per month for full access.
On the developer side, we will require developers to stake a certain amount of HBX in lieu of publishing/other fees. Staking is needed in the absence of reputation, but as reputation builds, the amount staked will decrease.
Additionally and most importantly, if developers take sales purely in HBX, fees will be greatly reduced or negated entirely.
This might sound a bit general, but what do you expect your project to face in the several years to come, especially regarding how you expect the landscape of the gaming industry to change?
We are actually anticipating a move to more mobile and free-to-play games as this is the current trend, but we will be positioning ourselves to be ready for that as the platform develops. We are also looking forward to a greater number of blockchain-enabled games that make use of NFTs to represent true scarcity/rareness. As has been witnessed with the success of Crypto Kitties, as well as in games like Magic the Gathering, known rarity creates another value layer that players can appreciate.
Just as any good game must have a great ending, we, too, have reached the end of our interview. If you’d like, feel free to leave some information about your project so our readers can follow your development. Good luck, have fun, and keep creating more!
Thank you! It’s been great speaking with you about our project. To close, we would just like to thank everyone who has joined us on our journey and invite others to come along as we try to facilitate the mass adoption of decentralized technology. As much as we are committed to empowering creators and giving good ideas a fair shake at being seen, backed, and developed, we’re also committed to the promise of decentralization and what it suggests for the future of technology.
Our belief is that decentralized technology, if properly implemented into real-world use cases, can democratize how people access innovation either as contributors to it or as consumers of it. We want to remove friction and creative restrictions of centralized processes and make the user-producer relationship more direct. We sincerely believe that making truly useable blockchain products will push the acceptance of decentralized technology to a place of ubiquity, and that is a very good thing.