[ENG] AMA Recap: CRYPTOID x Acent’s Your Earth DAO
- Host: CRYPTOID
- Guest: Acent Ambassador — Riana
- Segment 1: Project Introduction
- Segment 2: CryptoIDAMA Twitter Question
- Segment 3: CryptoIDAMA Live AMA
Acent held an AMA with CRYPTOID on July 12th.
For those of you who have unfortunately missed the live session, this article will save you time and expand your understanding of the Acent project.
Segment 1: Project Introduction
1. Please introduce yourself & a little about Acent.
Hello everyone, my name is Riana, I am very happy to be a guest of today’s AMA with the CryptoID community. I am currently an Acent Indonesia Ambassador with the role of introducing and connecting Acent and its ecosystem, especially Your Earth DAO, with a very enthusiastic Indonesian-speaking community.
Acent has established itself as a Web3.0 blockchain-based technology company. Acent is developing a diversified product ecosystem to build a token economy that combines the blockchain and token-based Web3.0 Acent Browser to drive user-centric web services. We are always moving towards the goal of providing a complete and synchronized product ecosystem that eliminates the inconvenience of using dApps and blockchain-related services, opening a portal to the world of web 3.0.
2. As the title of today’s AMA, we can see your metaverse “Your Earth DAO” is powered by Acent, so please briefly introduce your impressive metaverse. And what role will your $ACE token play in YED?
Your Earth DAO is a space in the metaweb that we define as an immersive new gamified internet service. To answer this question, I want to explain it in a more interesting way. I’m going to describe Your Earth DAO (YED) in 3 words you might see in our posts:
Live-To-Earn (#L2E) / “One Perfect Life” platform / “Ready Player One” metaverse style.
- Live-To-Earn (L2E): Earning on Your Earth DAO won’t be as complicated as you think. Your real-life ideas and talents can be realized in Your Earth DAO because you still use them every day for your current job. It is very possible, if you are a shoe designer, you can design it, display it or sell it on the NFT marketplace at YED and become more and more famous. If you are an entrepreneur or app developer, you can fully bring your models and products and start a business within YED. Or even become a KOL by creating content and distributing it on our content delivery network (CDN). You will be supported by our powerful development tools. That’s why we call it Live-To-Earn.
- “One Perfect Life”: Enjoyment is what you want in Your Earth DAO. Acent aims to bring Your Earth’s “One Perfect Life” metaverse to the real world with an open space environment and a seamless lifelike metaverse experience, making everything possible to be shaped by your limitless imagination. You can do what you want, go places you like, meet and interact with friends and the community.
- “Ready Player One”: What the graphics quality of Your Earth DAO is like because it is built on the best high-end graphics engine, Unreal Engine 5. The graphics in Your Earth DAO are all 3D objects, with coordinates and interactable. There is an open, operable space life-size of our planet where you can move and interact like what happens in your everyday life. You can enjoy #NFT wearable with meta-avatar that meets natural, flexible movement and immersion in reality to express yourself freely. Don’t forget AR/VR support is also a great experience in our metaverse, which you may have seen in our development trailer.
For the second mention of the $ACE token, the $ACE token, as the in-service currency at YED, can be used for the following purposes.
- Access and participate in YED platform activities: by spending $ACE, users can buy and sell NFT items, access and monetize meta apps, meta resources, NFT and other digital assets, including avatar or game character enhancements, and participate in many activities others on the YED platform.
- Acquire NFT land in YED: Users need $ACE to acquire and monetize land in YED. Any sale of land is expected to drive demand for $ACE.
- Pledging: YED users can participate in the Acent network by using $ACE tokens. The Acent network relies on an open and decentralized network of nodes operating on open source algorithms to ensure network security andprevent attacks. Thus, users who help maintain the network will receive $ACE for their efforts.
3. So why did you decide to create a new metaverse like that? What is the potential of this market?
Let’s start with a few numbers of some Web 2.0 based platforms:
- PlayStation Network: 111 million MAU
- Steam: 120 million MAU in 2020; 24.8 million peak concurrent users; 62 million DAU
- Ubisoft: 35 million MAU in Q3 2021
- Roblox — 49.5 million DAU.
Strong MAU (Monthly active users) and concurrent users are usually used as indicators of success in online gaming. The higher the MAU and concurrent users (that is, the number of people using the platform at the same time), the more successful the platform will be.
Compared to the current 11 million+ registered users of the metaverse platform, we can see that this is far from the metaverse media hype, especially when compared to other popular gaming and social media platforms like Facebook, which has nearly 66 percent of monthly active users (MAU) who log in every day.
This situation presents a great opportunity for the YED created by the Acent blockchain to fill the void. YED’s entry into the market will be very timely and has the potential to gain a large market share, which will increase the users of the Web 3.0 metaverse.
Combining the market capitalization of games and e-sports (US$1.9 trillion) and metaverse Web 3.0 (US$0.3 trillion) could generate massive momentum for the metaverse service that will offer both worlds.
The YED business model and decentralized gamified web services will offer a wide range of meta-applications and services that will accelerate the mass adoption of metaweb services. YED’s meta-web service will provide cutting-edge technology features that will complement the services provided by various sectors, such as finance, education, entertainment, and even the medical field.
4. Ok, I’m still curious about how your metaverse works. It is known that to operate the metaverse with high-end graphics and many unique features like Your Earth DAO, we will need a lot of advanced technology. What do you have behind it?
Yes, we have prepared a lot of technology to be able to operate Your Earth DAO perfectly. At the center of the decentralized gamified web is YED. Its technical functionality will be supported by the following architectures:
- Acent Mainnet: A unique blockchain algorithm network designed to coexist with the main blockchain network.
- Consensus: Acent uses Consensus Proof of Stake Authority (POSA), which has evolved from the old POR (Proof-of-Reliability) algorithm.
- Ascended Token: The Acent blockchain has its own wrapped version called “Ascending”, which allows users to convert BTC, ETH or other contracts wrapped as an Acent-wrapped version of their cryptocurrency of choice.
- Acent Meta Browser (Osiris Web 3.0): A blockchain-only browser that understands the blockchain language well and is designed to be most compatible with the blockchain.
- Acent Metawallet: Acent browser built-in multi-wallet supports crypto-related activities in a harmonious and secure way.
- Acent Crypto Engine Interface (ACEI): An advanced technology that can access decentralized applications (dApps) from multiple blockchain networks in a single application.
- DAPPX: DAPPX is a Steam-like platform and app launcher from the Acent blockchain-based app store.
- Acent DEX “Acent Swap”: PancakeSwap Acent’s version of the Binance Smartchain. Acent Swap is an automated liquidity-acquisition field with a built-in Auto Market Maker (AMM) decentralized exchange that matches the price of crypto assets with existing market prices.
- Acent as a Layer 1 Blockchain Solution for the Immersive Web.
5. Wow very interesting, my last question As users in the diverse world of Your Earth DAO, there are several ways that we can earn extra income. Are there enough methods that work for everyone?
There are many business models that the Acent blockchain can create for our meta-citizens. Some of the early user revenue models that will be implemented in YED include the following:
1) Play-to-Earn Revenue (P2E): Meta-citizens can practice and become meta-game players, earn per game, gain customers, sponsors or fans who will pledge their abilities and skills in playing the game. They can also benefit from decentralized advertising revenue.
2) Meta-real estate development: Acent blockchain enables people to print, buy, sell and spread NFT meta-real estate. They expand the concept of real estate where people can do many of the same things as they do in real life, such as hanging out with friends, meeting new people, working, shopping, collecting rent.
3) Job creation through service delegation within YED: The new, immersive gamified feature of the web enabled by YED will expand job opportunities for 3D modelers for NFT printing, meta-app or site developers, showroom developers, NFT goods creators, content creators, artists, entertainers, and ecommerce owners, including full-scale meta-game developers. The job market should probably be an important place for YED web services.
4) Meta-influencing Revenue: Meta-influencing is a revenue model similar to the incentives currently offered to influencers on social media platforms like Facebook and YouTube.
5) Manufacturing, selling and trading of Utilities NFTs: Utilities NFTs can be anything with a specific purpose, such as wearable shirts, cars, drones, teleportation portals, or other digital collectibles.
6) Meta-commodity trading obtained from NFT resources: Meta-commodities are intermediary resources used to produce other digital assets. Pylon NFT, for example, is designed to mine meta-commodities on YED
7) Trading NFT Spots: Spot YED is the smallest unit of NFT land that can be developed or traded on the internal or external NFT market. Starting a business or establishing a physical presence in the YED world requires ownership of a piece of land.
8) Decentralized advertising revenue: Advertising on NFT premises or land units on YED is a cost-effective method for all users to increase their reward balance. You can increase traffic to your place by using advertisements, or you can generate additional revenue by using third party advertisements.
I think as long as you have creative ideas and a little initial investment, you can do a lot in Your Earth DAO that generates revenue. We can check full details about Meta-Citizen’s revenue model here: https://doc.acent.tech/whitepaper/#visualization-of-business-models-and-revenue-streams-within-the-new-immersive-acent%20-metaweb-service
Segment 2: CryptoIDAMA Twitter Question
1. Does your project Acent support staking program? if yes. How does your staking system work? What are the requirements for users if they want to stake on your platform? Do you have a Burning Token plan to increase Token value and attract Investors to invest?
Staking is an important part of the Acent model, especially in Your Earth DAO tokenomics. We call this “ACE pledging”. If you Pledging your $ACE tokens in Your Earth DAO, you can receive the following benefits:
- Mining EDAO governance tokens to earn governance rights and revenue share from the UBI Pool.
- With mined EDAO, the guarantor can also mine $ACE tokens from the Metaweb Incubation Fund and UBI pool.
For the token burning question, In the YED model, there is also an economic mechanism to record from the fees collected from activities in YED. Specifically, there will be 9% Nitro fees (similar to gas on the ETH blockchain) and 10% of service fees will be burned. This will continue to reduce the supply of $ACE tokens and the more people use our platform, the more $ACE will be burned, increasing the value of $ACE tokens.
2. Many games nowadays charge a high cost to start the game & therefore start with a small player base. Is Acent an entry fee or initial condition & if so, what is it? Do I need to hold NFT or hold some tokens to enjoy & play Acent?
I think you’re referring to Your Earth DAO entry fee, you can imagine YED is very close to “Ready Player One” style. Although $ACE will be the basic token of the economy in Your Earth DAO, we are expected to require no or very little fee to be able to join this world in the first place. However, because there will be many interesting economic activities and services in Your Earth DAO provided by other users, of course to experience them you have to pay in $ACE tokens. In addition, you may be aware of business opportunities and profits, that’s when NFT will play an important role. So it’s worth considering setting up some $ACE and NFT for your earnings journey on YED.
3. NFT is one of the hottest and most sought after topics in the blockchain space today. Can you share your thoughts on NFT with us? Do you think NFT will disrupt the current financial system? What is Acent Technology’s approach to the NFT sector?
NFT is a big innovation and a strong trend recently. Inheriting the advantages of blockchain technology and smart contracts, NFT has opened up new business models, new games, and other exciting applications. Surely many of you here know the advantages of NFT such as:
- NFT helps increase market efficiency: Converting physical products into digital assets has the potential to improve supply chains, reduce intermediaries and increase security.
- They can be used to divide ownership of physical assets.
- NFT is very secure thanks to blockchain technology.
- NFT games can help players earn cryptocurrency. NFT in-game items can only be obtained through game progress.
- NFT is unique and gives buyers the opportunity to own something unique.
The downside is that it is quite difficult to rate NFT and can be improved with a few tricks. Even so, NFTs still have a lot of potential and are not at all risky for the current financial system, which supports stability and is less dependent on sentiment. As for Acent, NFT plays a very important role in our metaverse of Your Earth DAO, because we provide tools for users to create different NFTs in their own way and all digital items in Your Earth DAO are all NFTs. This may consist of, but is not limited to the following:
- NFT real estate like metahomes or NFT digital homes;
- NFT vehicles, such as cars and spaceships;
- Something to wear, skins and avatars;
- Crypto art;
- Resource mining assets such as unique NFT pylons; and
- Other digital infrastructure.
Because of that, NFT will play a very important role to build a user base, as well as generate profits for users and the ecosystem. This is an amazing example of NFT meta-homes on YED.
4. Continue to the fourth question: As we know, you are a decentralized database management project that wants to make the chain more transparent. So will transparency make dreams come true on just one blockchain or will you take your idea to another chain like BSC or Solana?
Although we develop and own our own mainnet — Acent Blockchain with many main advantages. Compatibility and coexistence with today’s mainstream blockchains are essential, necessary and bring convenience to users. Currently Acent is 100% compatible with Ethereum developer environment tools and in our Roadmap we plan to integrate the following networks into the Acent Metawallet.
- Q1–2023: Acent Metawallet Matic Native Support
- Q3-Q4.2023: Acent Solana & Polkadot Mainnet Metawallet Integration
Our full roadmap: https://doc.acent.tech/whitepaper/#acent-roadmap-2-0
5. Do you have any plans to attract non-crypto investors? Also, do you have a version of the game they can access and get to know about the game? Do you have a game guide so that those who are not very familiar with blockchain can easily play?
At Acent, One of our goals is to leverage Acent Browser’s web 3.0 technology & ecosystem to provide users with a seamless experience without requiring any prior blockchain knowledge. So non-crypto investors can easily experience Acent products especially YED with our complete and secure tools. Because they can easily experience firsthand, non-crypto investors can have a more accurate view of Acent and YED’s potential for investment decisions.
In addition, Your Earth DAO is not limited to a business model and you can fully bring ideas from real life to YED. For example, you can display your physical product in 3D in your store in YED, and when someone buys it, you can record the information and send it to the customer. I think this will be an important factor to attract non-crypto investors to grow their business in Your Earth DAO.
Segment 3: CryptoIDAMA Live AMA
1. Acent is currently developing an extraordinary metaverse, Your Earth DAO, but with above average development, has the Acent Platform been audited?
This is a very critical question regarding a project.
already audited By slowmist it can be checked here: https://www.slowmist.com/en/security-audit-certificate.html?id=f0b24ee4c7b9921b84ae49f8d71f1d93270b3e3afaf0cb17bf29131c8c9f6730
And audits by Certik are in progress, you can check here: Acent — CertiK Security Leaderboard https://www.certik.com/projects/acent
2. In Your Earth DAO, I often see Your Earth DAO promoting a product on its platform called meta-Asset, can you explain what is YED Meta-assets?
YED meta assets are NFT assets created within the YED ecosystem that can be imported from the YED ecosystem and sold on third party NFT marketplaces such as Opensea.io.
This may consist of, but is not limited to the following: ️
- NFT real estate like metahomes or NFT digital homes;
- NFT vehicles, such as cars and spaceships; ️Wearable items, skins and avatars; ️
- Crypto art; ️
- esource mining assets such as unique NFT pylons;
- and other digital infrastructure.
Each of these assets is backed by a Smart contract which can be stored in a digital wallet or crypto wallet.
3. I’ve read some article about Your Earth DAO, and in the ecosystem I found out NFT called Pylon, What is Pylon, what it do in Your Earth DAO?
Nice question. You do your research so deeply about Your Earth DAO.
Pylon is a utility NFT asset that will be available on the DAPPX NFT marketplace or on Opensea and is designed to produce raw materials or meta-resources such as functional vehicles, buildings, wearables, etc. required for the creation of objects or infrastructure in the Your Earth DAO ecosystem.
It was developed by the Acent blockchain technology — the base system of Your Earth DAO. Each meta-resource is unique and can be traded on the platform through the $ACE cryptocurrency.
Early Pylon owners will have a first-mover advantage in meeting the enormous demand for meta-resources, particularly in the early stages of Your Earth DAO’s digital economy.
4. Can you explain what the $ACE token is and its use and role in Your Earth DAO Metaweb?
Acent ($ACE) is the cryptocurrency of the Acent blockchain and is the cash equivalent or unit of value for all financial activities or transactions on the YED metaweb.
It plays an important part in the governance and economic systems that underpin YED. $ACE can be monetized through various business models and revenue for users. Through $ACE, digital assets are traded and transferred from one owner to another.
Furthermore, $ACE provides an economic incentive that will be distributed to encourage users to put forth effort towards contributing and participating in the ecosystem on the YED platform, thereby creating a win-win system where each participant is fairly compensated for their efforts.
5. The economic crisis is happening everywhere triggered by various backgrounds, can Your Earth DAO provide an alternative financial system to deal with the current economic situation?
A very realistic question and quite important with the current situation, As the world is experiencing an economic crisis, an adoption of new interactive, immersive and decentralized web experiences can serve as a catalyst for the formation of a new alternative financial system where new opportunities and jobs can be created.
Your Earth DAO (YED), Acent Technology’s blockchain-based metaverse service, is a perfect example of the infrastructure layer solution our society needs to implement new incentive mechanisms and user-generated economic models that will emerge as an alternative financial solution to slowly mitigate the damage caused. caused by the gradual collapse of the traditional centralized economic system.