SuperBid Community Update — 8th April 2022
Should you prefer to listen to the community update on Twitter Spaces, you may go here.
SuperBid vision and direction
Wojtek: Hi everyone, thanks for coming. This is going to be a quick update with more details about our new vision and direction.
We’re about to launch our new SuperBid.io website with more details about the new product, which if anybody here doesn’t know it’s going to be an incubator for play-to-earn games. The big focus is on the social aspect of these games, so we’re going to be selecting and implementing games that bring people together and make this more of an experience in a community instead of just gaming. And of course, these are going to be Web3-connected games with NFTs or tokens released.
SuperBid and our community are supposed to be the backbone of all these projects. So today, I want to talk in more detail about the SuperBid token and its utility because, in this solution that we’re building, this token utility will be quite big.
So the first way to utilize the SuperBid token will be either using it directly in a game that we will release. Or it will be somehow interchangeable with the token used in the game. This will depend on the specific game and the specific solution we will build. And then, you can use either directly the SuperBid token or the in-game token to spend on items and resources in the game.
Or conversely, you can earn either earn the SuperBid token or the in-game token and then convert it to SuperBid if you wish via some kind of in-game functionality. So this integration of the token with the games will go as deep as possible. So that’s utility number one.
The second utility will be the ability to stake the NFTs from the game, so let’s say some game issues a batch of in-game vehicles, and then you can stake one of those vehicles and earn either the in-game token or the SuperBid token. So that’s the second utility and a way to make money in the games because the goal is to release play to earn games.
Of course, whenever a game releases an NFT batch, our token holders that meet our specific tiers will have priority in mints and that’s something that we will definitely have for the games we release on our own. But then on top of that, we’ll try to negotiate that for the games we collaborate with. So another utility of the SuperBid token is these tiers, right? You need to have a specific number of tokens to be able to join the whitelist of a gaming NFT mint. So that’s your number three.
Another one is whenever we release our own games, and we will probably release at least one NFT collection or maybe more per game, a percentage of the income from those NFT collections will be used for SuperBid buybacks and burns. So we basically want to give back to the community from every game that we release personally, and then we’ll try to negotiate some kind of deal with external games that we work with, but that may vary.
And then, of course, another utility of the token will be the extra features you get from holding a specific number of tokens, so being in those SuperBid tiers. They will be similar to the ones that were planned for xPAD for the ones that are familiar, so the more tokens you have, the more membership perks you get on the SuperBid gaming platform.
So just to recap, tons of utilities for the token now a lot more than in the old SuperBid and I’m very happy about that. The first one is the ability to interchange the token with the in-game token or use SuperBid directly in the game. Another one is making tokens in the game or SuperBid tokens by staking game-related NFTs. Another one is all these tiers, so you need to hold the specific number of SuperBid tokens to get within the tier to have priority with gaining NFT mints. And then buybacks and burns of tokens from part of the income from minting game NFTs for the games that we will release on our own.
So like I said in the beginning, we’re about to release a revised website with a bunch more details, and of course, more details than the current one, which is just a placeholder.
The work on the Elysium game that we teased on the previous call is progressing. We’re planning the whole initial activities in the game just a sneak peek of what we’re focusing on is making sure that throughout the whole process of game release, we keep all the users entertained. So let’s say we plan a mint of vehicles in the game, we’re going to build a mini-game and we’re going to provide staking for those vehicles so people don’t get bored and don’t start dumping those NFTs. And we’re going to try to implement some mechanic that gets people together. So if you hold one of those gaming NFTs, you’re going to be interested in getting more people on board and getting them to stake with you, because that’s going to be rewarded in the ecosystem. So very interesting dynamic, it’s not just going to be art or gaming NFTs. It’s going to be more than that. It’s going to be a whole system geared towards making the NFT and SuperBid holders happy.
So, work on Elysium is progressing and actually, we managed to secure a second game to release with us. We’re going to share more details in the next two or three weeks, but just wanted to let you know that it’s not just one game that’s going to be built on the SuperBid platform, but already two games are in the works. I don’t have tons of information today because I don’t want to spoil the reveal, but it’s going to come in the next two to three weeks. We’ll update you guys first and like I said, for any NFT drops in those games, SuperBid holders that meet the basic tiers will have priority for those mints.
So, the next step is releasing the revised website. Releasing a new FAQ on discord with answers to many questions related to the new direction of the token conversion. That’s also coming up and to the new games and then in the next couple of weeks you can expect reveals and teases of information about these two games that are going to be released on our platform.
So I think that’s pretty much it. I’ll now I’ll take a look at our discord on the general channel. If you guys have any questions, please post them there.
Discord Community Questions
When do we expect the new website to be live?
We expect it to be live by Monday (11th April).
When is the token conversion?
Everybody’s anxious about the token conversion again, which, unfortunately, we have to do again. That’s coming up by the end of this month. And I can promise that it’s going to happen before any type of gaming mints happen, so anybody interested in being a member, having a specific number of SuperBid tokens to be a member of this gaming venture will be able to acquire those new tokens on time to mint any type of NFTs in these new games that we plan to release.
So when are we going to be able to play Elysium?
So that’s a very good question. Of course, building a game is quite a long-term task. We don’t have any specific deadline right now, just because it’s in the early stage and it’s not a very easy task to build a game. However, the interesting part about how we want to release these games is like I said before, we want at every stage of development we want the community to be able to somehow participate in the game. So we want you guys to be able to mint some kind of an asset from within the game, or even get some assets for free. And then somehow socialize with other people interested in the game using some mini-games that will lead towards the game. So with the example I gave before, let’s say we released a mint of vehicles for the game, so you would be able to chat with other people, collect those vehicles in groups with others, stake those vehicles to make tokens, maybe do some upgrades, increase their XP, increase their level. So we’re going to be releasing some kind of mini-game every now and then throughout the development of the game because building a game can take, you know in simple cases, maybe six months if it’s more complicated, maybe a year or even longer, right?
So we’re going to be releasing these mini-games and these ways to stake tokens and be social with others throughout the development of the game. Because we don’t want a situation where you know we do, we do a mint and then there is a one-year period of nothing happening, right? Everybody’s going to get tired and dump those NFTs.
Going back to the question, I think around one year is a good timeline for the first versions of Elysium, but long before that we will have some kind of mini-games that will allow you to use the in-game assets and upgrade them.
When are the whitepaper and the new tokenomics going to come out?
So that’s we pretty much have a draft of that, so I think you can expect that in the next week or two — new white paper and tokenomics.
Are any of the play-to-earn components built?
The p2e part in the initial period before the game is out is going to be mainly focused around staking your NFTs. And then socializing around staking. So you know getting your friends together and staking together will give you some kind of a bonus, earning bonus. And then you can spend those tokens you make on upgrades, leveling up the NFTs, some stuff like that, and then in the actual game, you’re going to be able to use these NFTs, these assets that you already upgraded while waiting for the game release.
Partnering with a pre-existing project
If you could mention some projects that you have on your mind, I’ll be thankful, happy to look at them.
Will we be able to stake the SuperBid token?
Right now we’re actually weighing if it’s gonna be necessary because with so much utility you know with these buybacks from NFT sales with NFT staking with using the tokens potentially in the games, we don’t know if we need staking of the token on top of that because it’s just gonna complicate things and dilute the supply. While there are so many utilities that should keep everybody interested so we’re still on the fence about the actual token staking.
Will the games’ NFTs be exclusive to SuperBid, where the only way to buy is by purchasing the SuperBid token?
No, they’re not going to be 100% exclusive, however, the initial mints will be exclusive to either top people from the community of the given game or the holders of specific tiers of SuperBid tokens. So while they’re not exclusive to only SuperBid token holders, the SuperBid token holders will be the ones who will be admitted in the initial mint before the public mint starts.
What is the total supply of the new SuperBid token?
I think it’s going to be around 20 million, but don’t quote me on that yet. We want to have enough tokens first of all, for the conversion of course example for team and liquidity, and then we want to have a decent pool for all kinds of game integrations if we issue these tokens for staking an NFTs right? We need to have those tokens at hand. So I think it’s going to be around 20 to 25 million.
What will keep everyone from selling the SuperBid token now seeing as the game launch is still a year away?
So this is one of the games, first of all, and as I said, there will be a number of token utilities. One in-game utility of converting SuperBid tokens and using them in the game is going to be available way before the game launch. The second one is staking NFTs, that’s going to be available right before the game launches. The social Mini games that’s gonna be available pretty soon. We already have the second game in the works. There’s gonna be more NFT drops and more interest from people in getting the basic tier of SuperBid holding. And then we have buybacks and burns, right? So if some people decide to sell, that may offset that supply.
Will there still be a marketplace and bidding?
No, the long-term plan is to have a marketplace of in-game assets, right? But first, we want to get these initial games out. We want to build a bigger community around them. We want those NFT collections out. And then once we have games and once the SuperBid platform is connected to many games, then we can get to building a marketplace because then we know we have users for that marketplace and assets to be sold on that marketplace.
Price prediction? Forecast in demand and utility?
I mean, I have no idea and I never do price prediction, so sorry about that. You’ll have to do that. Dave is asking if we’re modeling or forecasting the demand versus supply of tokens to make sure that it makes sense. So for every game that we’re working on, we’re building a mathematical model that reflects how many tokens should be issued as rewards in the game for the users versus how many tokens they’re going to be spending on various upgrades and items in the games. So yeah, we’re definitely doing that. Plus that supply of tokens that are given out for staking can always be tweaked on the go, as we see how the in-game economy works. So it’s definitely a complicated thing to balance it properly. As you know, many regular games are facing that problem and solving it, so we’ll come up with some we’re coming up with mathematical models for that, but then once the game gets going, we’ll have to be tweaking things to make sure it works properly.
Any partnerships with other games in the works?
Like I said, we already have two games. I think that’s enough for us to cover for the beginning because it’s actually a lot of work. But yeah, we’re definitely on the outlook for extra games. Right now we have two and we want to apply our new vision to these two games before we move on to the next one because we just want to flesh out all the details and make sure it works and then replicate that model with every new game that we partner with.
Ok guys that’s it. I think I covered everything. I answered all the questions. Stay tuned for the website release and an update. Thank you for coming. Thank you for listening in. I hope it was informative and stay tuned for the website release and more updates next week. Thanks, guys, see you.