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Recap AMA Cryptoiz with BadBit Games
  • Badbit

Recap AMA Cryptoiz with BadBit Games

 

SEGMENT 1

Q1. Can you describe to our community in detail about Badbit ?

BadBit.Games is the 100% decentralized Smart Casino powered by Ethereum and Matic. Some basics: fully on-chain games run on Matic, play with $ETH from own wallet, provably fair, independently verifiable bets, rng is Matic blockhash or a combination of Matic blockhash and random.org.
Our main value proposition is our focus on players, and this is manifested along two dimensions. One is the way we reward our players. We have many competitions, giveaways, minigames, lotteries that cater for different types of players, all designed with the principle that the more you play the more rewards you’ll get.
Second is our focus on decentralization. We try to push the concept of a profit-sharing casino to its limit – our token supply is 100% distributable to players and our profit share, starting at 20%, will go up to 100% eventually. This will be a decentralized casino owned by the $BAD token holders – the players themselves.
Right now there are 4 in-house games – ROLL and SPIN are multiplayer games and SCRATCH and ROULETTE are single players. ROLL is our dice game, SPIN is our players’ favourite, SCRATCH is scratch-cards and ROULETTE is Roulette!😂

Q2. Gambilng industry is the fastest grow industry, what Badbit Target until Q4 2020 ?

We have been live for less than 24 hours, and so far we’ve had about 35 players and close to 10,000 bets already.

Launching our 4 in-house games yesterday was an important initial step for us. Our next moves will be on two fronts.

Firstly we want to further improve our user experience. We want to make deposit and withdrawals easier, faster and cheaper. We want to make it easier for players to get on the games so ideally we should do away with any browser extension and specialized dapp wallets. We want a UX that’s as close to a traditional online casino as possible. If we can do that it’ll be much easier for us to get in front of centralized casino players and make a decent account of ourselves!

Secondly, new games. And loads of it.
We are working behind the scene to bring in third-party providers to offer slots, sports betting, live casino and everything that other casinos have. That’s benchmarking – we’ll level the playing field between us and other casinos.

We are also working on a number of new game concepts that leverages our decentralized advantage. One such concept is close to completion and it’s a cross between football betting and NFTs. Matic has the perfect infrastructure for this concept so we can’t wait to turn it into reality.

So for Q4 we will be rolling out a number of UX improvements. The most important thing seems to be wallets right now. We want players to be able to reach our game pages and start playing without having to download metamask or specialized crypto wallets like imToken, it will make adoption so much faster.

As for third-party provider games, we hope to get them ready as soon as possible but it’s harder to put a concrete timeframe. We’ll keep the community informed.

SEGMENT 2 Twitter Question

Winner 1


What relationship does BadBitGames have with Matic Network? How Matic Network influences the project ecosystem? What are the contributions that Matic makes to BadBit? Thank you!

Matic Network is our great infrastructure partner. Our smart contracts are deployed on Matic Network, which is a L2 sidechain of Ethereum.
Matic has block times of about 2 seconds, and transaction fees are microscopic compared to Ethereum. Perfect for our use case!
The Matic team has been heavily involved throughout our development and deployment process, giving us a lot of great support and guidance. So there is a great relationship between the two teams.
Talking about transaction fees, I should mention that we have implemented meta transactions, thanks to our other infrastructure partner – Biconomy, so our players do not pay any transaction fees on Matic at all – the casino pays for those. Zero transaction fees on Matic!
The only time our players pay transaction fees is when they deposit and withdraw their ETH between main Ethereum network and Matic chain.
Apart from that, every single tx on our platform is completely free for players.

Winner 2

https://twitter.com/mylhe/status/1309644109255069696?s=20
Can you explain more about $BAD token? What is the use of this token in your network? Do we really need to obtain $BAD token to play and try in Badbit Games?

Right, onto the $BAD token.
Every time you place a bet on our platform, you have a chance of winning some $BAD tokens.
$BAD has a fixed supply of 1 billion, and 100% of supply is winnable by players.
After a player wins $BAD, they can stake $BAD on our smart contract and receive profit share from the casino. We share profit once a week, on Mondays.
In direct response to the question, no you do not need to have $BAD to play the games. The games are played with ETH. But you can win $BAD from playing the games and staking $BAD can provide a source of passive income.

Winner 3


Do you think the decentralized gaming platform Badbitgames will be able to compete with the centralized platforms? How does Badbitgames provide a better user experience than other centralized solutions?

We do not consciously compete with any centralized casino. We position ourselves as a crypto casino that happens to be 100% decentralized, and we work hard to inform all players of the advantages that decentralized tech could bring to their play experience, and give them more choice.
In direct response to your question, we believe there are some value offered by a decentralized casino like ours that cannot be offered by centralized casinos. One example would be security of user funds.
At a centralized casino you need to deposit your funds to a wallet which is controlled by the casino. With us players play directly from their own wallet. It’s a lot safer.

Winner 4

https://twitter.com/OlegTroya1/status/1309673377599193089?s=20
Speed is one of the important factors in an engine design based on the gaming industry. And we see that on blockchain Ethereum it requires a very high fee now, how will the BADBITGAMES solve this scaling platform? #AMA #BET #BADBITGAMES

Ethereum is expensive and too slow for our use case, that’s why we are deployed on Matic Network, the most prominent L2 solution of Ethereum.
With Matic’s 2 second block times, games speed is fast enough to offer an enjoyable play experience, though it’s still not as fast as server-based applications.
If you try our games you’ll see that speed is reasonably fast😉
We are not blockchain maximalists – we do not believe decentralized apps are always better in all respects. There are things that are better handled by a server. Our project is about giving players more choice.

Winner 5


Do you plan to launch your own mobile application for Badbit Games for easy and better use of your platform especially with games? Is this part of your ongoing roadmap?

Mobile is extremely important to us since around 50% of our players are on mobile. Right now our games can be played on MetaMask or imToken Wallet on mobile devices.
The target is to free our dapp from these specialized wallet applications. Players should be able to access the games from any browser, from any devices, without having to download any extension or wallet app.
We already have a solution to this. We are working with an infrastructure partner to deliver this outcome – within a few weeks, if things go well😎

SEGMENT 3 Live Community Question

Q1. 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 Investor to $Your platform and keep them long term.What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?

Just to finish on direct marketing, we always believe that if we have e.g. $5,000 to spend, we always prefer to give it to players rather than giving to streamers or spending on an ad campaign.

In addition to direct marketing, we also have an affiliate program. Our growing network of affiliates help us promote and bring in players. We do not focus on any particular geographies but our affiliates might, and it’s up to them. Our affiliate program is decentralized so each affiliate are given an ERC-721 NFT. The advantage is that affiliate earnings are controlled by smart contracts and the casino cannot stop paying affiliates, as long as their players are contributing revenue.

Q2. You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision, …So now I want to ask what do you want to receive from the community?

Check out the games and give us feedback! We have a $10,000 Launch Weekend event happening right now so it’s the best time to visit and try your luck!

Q3. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?

Right now $BAD token is not listed in any exchanges. In time we will make the decision together with the community as to when and if any exchange listing should be pursued.

Q4. What are the competitive advantages of BatbitET over similar projects? Can you name 1-3 BatbitET functions that are ahead of the competition?

Right now, our main competitive advantage comes from our rewards for players. If you follow our social channels you’ll soon realize we have a very active promotional schedule with events almost every day that offer very good rewards for players. In addition to our weekly wager race, flash races and cash lottery, we will be rolling out several new features in the coming weeks.
And of course our profit share – centralized casinos don’t do that! 😉
Over time, we will have an additional competitive advantage coming from the innovative products that we’ll bring to players. One of the reasons we started this project is because we believe there is something that decentralized tech offers that cannot be done by traditional server based tech. We should be able to create unique gaming experiences that have never been created before, using decentralized tech. That’s one of our main long term target – create unique gaming experience that can only be played on a decentralized casino.

Q5. What is the advantage for a token holder in the short and long term and will it have any reward structure for active members ?

In the short term, the main utility of holding $BAD token is the weekly revenue share. Of course we’re aware of the token dilution problem and we’re willing to try different ways to tackle this. Right now the consensus in our team is that the key to solving the token dilution problem is that we need to come up with additional utilities for the $BAD token. In the long run we need to come up with things that are both in demand and can only be done if you hold some $BAD.

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