Hey, I'm trying to get on my Bluetooth and I'm too trying to pick up. Can you hear me?
Yeah, I can I can hear you. Lana clear. Perfect. Excellent.
Well, we're a minute before the full hours and we'll just wait for people to start trickling in.
Ah, there we go. Only LARPing is there.
Perfect. Perfect, I'm gonna meet for a second.
Hi, only lobbying. How you doing? I'm good. I'm good. What's up?
Very great, great to hear. I'm happy to have you here. I'm very glad to be able to hold this space. I must admit that it's really Joey's specialty and every time he talks about tokens and
economics and all this complicated things I listen in R so very excited to host this space. We'll be waiting a little while still as people trick
Absolutely, so leave a comment, retweet, let's get people joining this space, which is quite exciting. We want tokens, Dow's revenue share and liquidity pools.
That's a lot of challenging topics and exciting topics.
So while we wait for people trickling in Joey is settling in as well
because Joey, we can't really we can't really hear you. I think you're a connection. I'm in a bad area. Okay. If you'll talk a little bit about
talks and what they did and I'll be back in as soon as I pick up the food and I'm sorry. Yeah that's all right no worries no worries. So let's see that was last week on the 24th of May it was the
twin talk of how to stand out. So that was Marcel and Patrick. They had a few projects on the space, which were Sramis, Kabila, Aniseet and the Legend of the Past. It was a great panel.
Well, I admit my phone got my Twitter got rocked by Elon, but I did got the first part of Shroom East that they're building a lending protocol with NFTs. I'm quite excited to hear, you know, to see how that's going to develop.
Kabbalas, as always, I mean, they've done a great job. They're doing a great job. And they have been doing a great job with their Seawars Mint. That one went minted out pretty fast, I believe. They had like the first 15 minutes
minutes was white list only, which I thought that's pretty, you know, it's, it's, it's, it's, it could be challenging in a way, I guess, because you know, if something goes wrong, if your white list doesn't work, then what do you do next? You know, you can't get support in, in 15 minutes, probably.
But obviously nothing went wrong as far from what I've understood and they just completely sold out after that first meant for the white list. Yeah, we've got any seats, which is pretty an exciting project. They
So NFTs and the World Gamify NFTs as well to leverage, yeah, Leverd Web 3 and get a new level of donating to charities.
on Hedera of these projects. And legends of the past obviously doesn't need any introduction. You know, a mobile game that's being developed by Basel or Basile, which is pronounced in French, and Neil.
wonderful team and working very hard. I've met them also in or at least I've met Vasile in real life in Paris doing the more just while the Paris blockchain week was organized while also met their team but that's another story.
And so they're also working away. I mean, all these people are working hard and creating wonderful projects, building away during this sometimes difficult sentiment in this market. So, yeah, that was last week.
the Twin Tog from Patrick and Marcel at Earthlings, as you know, we're always working away, building exciting things behind the scenes and always excited when we can release new, new scenery, new items.
all of you probably saw the the floating islands scenes that were what I thought was pretty amazing. We managed to to get Christian Hasker which I always call him always Chesker but it's Christian
Asuka. We mentioned to release it for us and also the reason why we always try other people to kind of release our trailers is that every time you kind of touching to a new audience,
Well, at the same time we obviously we also publish it on YouTube directly. So those were the floating island scenes and I believe last week we also published one of the characters.
from Bearflex. So, you know, we're having a quite a big team currently and there are a lot of stuff we're working on. So, yeah, I'm very, very excited as always.
to be working with her friends. Joey! Hey! Can you hear me? Yes, yes, louder clear. Sorry, I'll be honest about the...
I know it's good for Europe, but our time is one PM Eastern 10 a.m. Pacific in the middle of the week is terrible for the US. What time is it where you are now?
Yeah, it's one time while everybody in the yard is very responsible for us to have spaces, but that's okay because if nobody was here, I'd like to talk to you only laughing about some of the things that we're going on with Karate Combat.
If you will, kind of give an overview of Friday combat and how you develop that reward spoken. It's really interesting. I love the way you're doing it. And a lot of people are asking me questions about
it and other discord so my first thought was how you want to get over and kind of educate people on what you're doing, how you did it, what it took to get what you are now because I'm sure you had considered every possibility with the karate token.
Yeah, well thanks for having me on I'm happy to join anytime and thanks for fielding questions about the project. We're trying to do a lot of new things so It takes a lot of explaining and so at the top level Karik Ahmed say sportsly we built the whole thing
to appeal to the next generation of fans across every vector. So completely cross-platform distribution, free to watch all over the internet at the same time it's on TV. So I'll inside cruddy.com but also YouTube, TikTok, Twitter, Facebook, KQ, Name it. The rule set, the format, it's super fast-paced and
entertaining. It's called karate combat and we built it out of the karate brand and lore. We have some of the best karate fighters of all time, but at the end of the day our North Star was always like how do we make the most entertaining worlds that possible. And that's how we design the rules. Also the rounds are faster and the scoring
paper's aggression. So you get a lot of knockouts and TKOs and then we film all the events in front of these immersive 3D environments. We generate those live uses camera tracking and came engines. So the end result is sort of like a real life mortal combat.
And then I've been in the office space for almost a decade and my buddy from college, he started to lead and I traditionally funded it and we'd always been looking for ways to combine the worlds and about a year and a half ago we came up with this idea that we've now built and launched and branded.
up on the gaming and that's what led us down the path. That's the idea we found love with because we thought it would work really well for just regular sports fans. And so now we are a couple weeks into like having a live product and that's that's a bit of the story.
Yeah, it's great and I pretty registered forever ago whenever you guys did the email.
announcement to sign up for it and fortunately fortunately we won't talk about things
>> Really early and quickly. Get my tokens and participate in the first event. You walk through how the app only works and how it will work for people to
Yeah, sure big cut out there, but I think I kind of understand what you're asking so Up only gaming that's the reason we did all of this and the idea there is the karate token not only Auburn's the league and it really does and I can explain how that works That's pretty radical, but in addition to
that you do when you have a bad on a fight. Because when someone has a bad on a sporting event, they engage at a 10x higher level. And so if we can get all of our fans to have a little financial upside down every single fight, we'd be in an incredible position. You know, especially our demo if he pulls
young males, almost half of them will say that they don't like watching sports unless they have a bet on it. And we think the best way to kind of turn our massive awareness into really, you know, a large amount of like supervans is to get them doing a little research on which fighters I think are
to win and then financialize the outcomes a little bit. And we made it pretty easy to do, I think. We built a couple different front ends to the smart contracts. The game, the game, the gaming's built on smart contracts. And but we built front ends.
one web app at app.cardi.com and then a mobile app initially on iOS but soon to be Android and maybe about six weeks and the mobile app has a small wallet inside of it, non-custodial wallet, so you're
story, the tokens on your phone. We use a SDK from Blade for that. And we think that mobile app should be easy enough for any regular sports fan to use. So you can actually just go to the iOS store right now, download the credit comment, vote live app, get 88,
free tokens and in about two and a half weeks you get a notification that it's probably in advance of that and you'll get some notifications on governance votes etc but in about two and a half weeks you get a notification that it's time to pick your fighters per Kc40 which is on June 24th
I remember that I had to ask Joey several times, but hold on. I can't lose either way. It only goes up.
that was pretty pretty interesting and you're also saying that it doesn't it's in that case it's not considered considered gambling. Yeah so this is something that's literally impossible without crypto so it's only possible because you can make your own
it and reward active players with it. And so over time, over the long run, the active players and the best fighters, they slowly dilute the people and just leave their tokens on exchange of finance. There's no way to like farm the token or
or with your time or with USDC, but over time, the people who are active in play win more tokens and the people who are inactive don't play. They have the same amount of tokens and
You know, a smaller percentage of the total amount over time. Over time, like the number of times you win, number of times you lose, probably get a more or less balance out. But in the immediate term, it's fun because you don't know how many tokens you're going to win until you see if your fighters win. And it does feel
sort of similar to gambling in the sense that if you pick, you know, fighters that not many other people pick, you can win an outsized percentage of the rewards. And then we do really cool stuff. 10% of the reward will go to the winning fighters. And so there are, you know, incentivized to
grow the pool on them because the fight with the most votes on them are the biggest prize pools. Joey, I'll give you back the words. I'll see you from you to yourself. There was some really cool talk last night on the Discord when you guys were all hosting
And some couple of things I wanted to bring up. One of the questions is if it's up only and you have all of these tokens that you're given away, what holds the value in the
token and what are some things that you all are going to do to help incentivize people to hold their karate and their wallet? Yeah, so you know I think people in crypto are a little bit thrown off by token issue.
Because crypto is sort of path dependent, crypto starts with Bitcoin which is very strong monetary ethos. And then also because you had some gamefile and d5 projects that were massively inflationary. But inflationary to the point where you could just like
and play the game and earn a bunch of tokens or come park some US dollars and earn some government tokens. No idea those things are true with karate combat. So there's no way to spend time and earn karate tokens. There's no way to park USD and earn karate tokens.
All the token issuance from the game goes to the existing holders. So if everyone were to play the game, then over time, it's fundamentally financially exactly the same as a token split, which is irrelevant to value, right? Like if we, if certain project that are two for one token split,
We think that the game can be fun with issuance as low as like 10% per year. At which point the inflation per se is not sort of at all right that's sort of pretty similar to the
inflation rates in the real world. So we think with a 10% inflation rate, you know, active players will earn 10% more tokens per year and the total amount of or more, right? Maybe there are 20% more tokens here because half the people will employ the game or something. And then the active
you know the total number of tokens micro by 10% here. That's something that we don't see is a problem in any sort of way from a fundamental financial perspective. In terms of you know incentivizing people to hold the tokens, you know this was a question someone asked this like do you ever see
the league offering to sell merch in karate tokens or something like that. My answer was, you know, I think we're even gonna get the question so many times that probably yes, we will. But actually, we want people to like treasure their karate tokens, like hold onto them for dear life and hodl them and
And I think the best way to do that is to drive this like really deep emotional connection between the fan and the league and make them really feel like owners of it. You know, now no one owns the league. It's held in this ownerless foundation that's controlled by the token holders. But the token holders are the one that control it.
Since nobody else owns it, like who better than to reward like an owner, right? So providing VIP tickets to Wales, ticket opportunities to token holders, just kind of merch to token holders, honorearies to the largest and most active token holders.
access to special events and digital places, leaderboards, really just like any park you could imagine that would go to a billionaire sitting courtside, finding some way to deliver the equivalent value to hopefully millions of token holders.
So, Oaken holders are the owners. It's a business UR space.
So token holders are not again. I mean, I mean, I gotta come back. Is it?
I mean, I'm kind of leaning towards asking, is it, are you going to establish like a true doubt? What are you going to call the voting rights and how are you going to have an internal organization or group that
sets things and then the token holders vote on three or four options or is it going to be a pure dail where the token holders can run wild and do what they really want. Yeah, yeah. So we really went all the way in a sense. We
a foundation. It happens we're based in the Cayman Islands and transferred the entirely to the foundation. So the founders who put up all the money to build it, we know long are on it anymore. It's owned by this foundation with directors and
subsidiaries and BBI and Seychelles and they own all the assets so like the domain name, the fighter contracts, the distribution contracts, social media accounts everything. Zone by the foundation. And it set up
up so that the directors of the foundation are, you know, instructed to listen to the well, the token holders. From a practical standpoint, token holders don't want to vote on every little thing. And this is common, not just in like
crypto or whatever like Dow governance gets a bad rap with low participation rates, but that's like every type of governance. So even for the US presidential race, which happens like once every four years, like half of eligible voters don't vote for that thing. That's like on TV for like two months straight.
The fact of matter is like unless there's a problem most people don't want to vote on Monday and things. So we'll be trying to keep like the Monday and governance votes to maybe once a quarter, bundle them with fun things, and then be pushing more regularly like active engaging
We've enabled really seamless voting, not just your typical snapshot voting, which is also available, but also we've integrated snapshot directly into the mobile app. So we're hoping to get very high participation rates on governance votes, which we should be kicking out very soon. If you look at the mobile app,
If you have a chance to download it, there's a lead tab in there where the bindings proposals, the non-binding polls, the announcements, and also a way to send a message to the lead, to touch your account ID. Well, I'll be integrated very shortly.
Yeah, that's really awesome. It was really exciting. I got my tokens. I did the pics for the fight.
I'm more than doubled my tokens and I saw that somebody had started a cool saucer swap. So let me get set up for that.
The next thing you know is salsa socks tweeting and I haven't looked today but there's what on the mystery. Right now.
Yeah, I think it's like a hundred and eight thousand if you include age is it is it okay. It's just karate Yeah, so it's it's catching on and I'm not mistaken you guys didn't put anything into
the poor. No, nothing. No, we kind of had some regular throat constraints around sitting around with the people. But like the D.F.I. community stepped up in a big way. And you're not obligated to, obviously, but can you talk to us? And then
The reason is because I'm going to talk a little bit about not too much, but a little bit about what Perfins is doing and going through and considering too. Can you talk about why you decided not to put anything in the pool? We just have some kind of unique regulatory constraints.
There's a physical sports league. Even though the majority of the fans, the majority of the contributors and all the assets are offshore, we still like having events here in the US. Some of the founders are based in the US. And the US has taken this very aggressive anti-
crypto approach the last couple years. I don't think it's forever or anything. But also like the league had like thirty million dollars invested into it prior to converting to this crazy structure. So just
a little bit more cautious on a couple of things that like a purely digital platform might not be. And you know one of the you know one of the things that we did
One of the things we did to protect ourselves was to be super, super careful that the lead didn't accidentally sell any tokens to US Unacquired Investors. If you go in like C Jerome, equity pool, it's a little bit hard to prove that to yourself. To be honest, in some
Some ways, you know, it's a little bit harder for a league to argue that it's like fully decentralized across every vector. I actually think leagues are like an incredible fit for a Dow because sports leagues, if you think about it, they're sort of like this
It's a set of rows that doesn't change. Base flows barely change in 100 years. All sports leagues are pretty funky structures. If you talk to some leagues they're like hey we're kind of already a dower, like six different organizations, we can't change anything. But on the flip side it's a little feels more physical at least. It just at least feels more physical.
So that was just one thing. Like, you know, obviously everyone has to make their own decisions. And this was just like one area we decided to be more careful about, whereas other areas like probably we weren't more careful. And also we were sort of confident that, um,
you know, with everything we're pushing like eventually the, the market would like figure out how to trade karate on chain. And we're lucky enough to be right about that. We easily could have been wrong because honestly, it still hasn't happened on Ethereum. There's no like liquid pool on Uniswap.
for giving me a scrunch. Yeah, I was happy with the way people jumped on so quickly with sauce and soft. And I was happy with the way sauce and soft was funded to it. So that was great. And that was great of their holders to support it. Yeah, we're, you know, we're a game.
earthquakes. We have already have customers all over the world. Europe is Australia, North America, South America. So what we had for economics and
in November, you know, how quickly things changed and you guys were looking at things back then too. What do we do to make sure we don't alienate any group, especially the US, you know, it's such a big gaming market.
It's not the biggest play to earn and play in our gaming market. Asia probably is because some people can live off of daily earnings. I think the US market is going to be more gamers that actually want to be able to own and sell there.
FTEs. So part of what we talked about is like, okay, we have a soft token that's launching and we absolutely want it to be usable and intradable on exchanges. So what do we do to have
an organization that can invoke, that can be a Dow and what we do to reward people because revenue shares are so impossible to get away with. So we're kind of going to do two-pronged approach.
And part of it, one of the issuances is going to be a lot like cruddy, which was one more reason I was even more bullish when I felt more about what the cruddy took and actually does. We're going to have
Within our game, we're award token that actually functions in the game, just like our steam token. It's going to be a issue that you can trade it. You can buy and sell it, but then we'll also have a reward token.
and it hasn't been named yet that you're going to get playing games by participating, doing activities in the game. You're also going to get rewards very similar to hotel points or credit card points, which
make purchases in the game or from shops in the game or for competing contest that cost money. You're going to get a small fraction of that back in the end game or award. So that token won't be on exchanges but you'll
They'll be able to accumulate and use it in the game to participate in events or to buy skins or NFTs or property or just daily transactions. So it's kind of too full because we want to
Make sure that no matter what happens, we're not going to alienate any sand base of our project. And I appreciate projects like yours that are taking the steps to do the same.
Yeah, man. I yeah, yeah, I totally get it.
We originally wanted to do a revenue share, but I mean it's just not something I don't know how these projects that, yeah we're going to be a big business and here's some shared revenue. Well how are you doing that without
You know, some places I'm sure that's fine, but are you really going to do that with your US holders? Yeah. It just has our kids outfowl. Yeah, it just seems like. Yeah. So they go with to set it up.
If those things do happen, we can jump right into it. We'd rather have the ability to do it and keep running than to have to... Okay, we're going to have to shut this all down and start over because that rarely works for anybody, right? Yeah.
with the future, you talk about 10%, you talked about that last night for the immediate future. What kind of, I guess that I doubled my karate on event, 39.
KC 49 and KC 40 what are you expecting? What I mean do you have an estimate or an idea of the folks that are here? I hope it's more than last time like this.
a bunch more than last time. But I think the reward pool will probably be similar. But it could definitely be more people playing. Yeah, what'd you say? 1,500 participated last year? Yeah, it was about that maybe a little bit less. Do you know how many
Hedera wallets were added when on iOS and I know I can only imagine it just seem like
for a minute it was just non-stop and that was that was um to talk to them I'm sure it's a ton more than you had even just before last event
Yeah, sorry to make this man
So tell me a little bit about
where the events are, how can you go to an event? They look amazing when you watch them, but the set looks awesome. It's exciting how it's
somebody get there and actually get to enjoy them. So yeah, so we jump around and for a few years we built the lead lives of tape in Budapest.
Most recently for the last year we moved the format live without sacrificing the virtual backgrounds. And so for the last 10 months or so we've been in Florida, first in Orlando, now Miami. And we do have one more event in Miami in three weeks.
Anybody who is anywhere near there would love to have you. Just reach out, we'll get you a ticket. We don't sell many tickets because it's only like a 800 person capacity but we'll find a way to get you there. And yeah, after that we drive pretty exciting.
back half of the year. We haven't announced it yet, but we'll be moving around a little bit. We're going to do some more in the US because I'm definitely coming. I just don't know if I can get to Miami. That short notice. I've mentioned it to my wife.
And she's like, "Well, I can't take that weekend off." So you're not growing. So if you have, have had been like, um, "Wheasy Idaho," she might have agreed to let me go, but she didn't want me to get in my hand, they look better. I don't know why. No, Blah.
So I've got a question on so the is the reward pool that is
Can you hear me, Joe? - If anybody wants to come up and ask a question, please. - I do.
There's so much going on and whoever's under the blade
If you all want to come up and say some things and talk a little bit about how people can get involved and tell me I have a blade wallet but all of my
Ferrotti was on the app that I opened and then I traded it on Fossil Slot to add some more and I'm about to move it back to my karate but if you want to come up and talk a little bit and tell us what's up.
No, I guess not. I can hear you. Can Joey hear you? I'll have to go through you.
the ships here. Just stay there to support. Pretty late for me, I'm in my bed but just wanted to support Karate and just want to listen to the lovely chat you guys are having.
Thanks for being here and then showing it with um karate. Now we talked a lot about your project and a lot of it I don't want to cross over you said it all last night and we do have a small group here so if anybody wanted to
Come up and ask any questions. If you haven't seen it, you have to go watch the next event. Just get some tokens and go pick your fighters and it will get you invested even if you're not a martial arts fan.
And yet, like you said, in a sports fan, he's going to love it because as soon as you have your tokens on a fighter, you're locked into that person. And to this is how I am, I've become their biggest fan for about three or four rounds.
So if only larping again you hear me Joey oh my
you can hear me now. I can only know I can maybe yeah maybe you can tell Joey to check his discord so that I can I can I'll send some messages through through there if else otherwise I'll
I'll just ask my question because only now you can hear me. I mean, this is so typical lately with Twitter spaces. Elon keeps on going on it. Anyway, my question was so you were telling about this, you have this reward for every fight.
Is that a fixed amount? Is that something you decide on upfront or how does it work? Yeah, we designed a curve based on estimated float.
a declining percentage on an estimated float. The float is a little bit impossible to forecast in a half a time. And I think it's the type of thing that will probably open up to governance pretty early on as opposed to kind of sticking with what was in our heads initially. But basically,
three years of rewards there on the treasury for the game to continue for a few years to see happy boy. Yeah, yeah, that's really good. And I like the chair. You actually created this curve for that. It makes completely sense as well because you don't know what the adoption
and obviously all those accounts created that might have been a lot more than you expected or maybe not. And so you also mentioned that 10% of the re-wetball goes to each fight, goes to the fighter who won.
Right. That's right. And so basically that will also mean that that, you know, because we're talking about governance with with karate tokens. That's so basically that will also mean that, you know, as a fighter, you keep winning all those fights, you, you
will be getting more and more governance as well in Karate comment or stats. Yes, very much. And he can he can bet also on his self, I guess. Yep, they can also pick themselves. That's really cool. That's really great.
Joey are you back can you can you can you hear me? Yes I can now I did not know what's going on with my Twitter today. Fuck I know it's all the time. It's messy. It's messy. All right I really like
I really like how karate come up with this approach and this and congratulations so much with the launch. I have absolutely no doubt that this is going to be very successful. Joey, did you have any questions or maybe anybody from the
from the audience. I know we don't have a lot of people, but you know, it could be. Yeah, that's what if there are no questions. I think we're good. I think had the era was supposed to have an event in about 20
minutes. I get so many notifications. I think they were doing a space or an announcement or something, but I haven't seen anything about it today. But we had planned to run this one a little short because of that. So we can probably wrap it up. Do you know what
Patrick and Mocella talking about next week. Probably a surprise for us. So that one people will have to follow the earthlings account to get posted to get updated about that. Oh yeah, we've got Patrick who just joined.
I know you can't speak because he's behind the computer. So yes, I mean, thank you so much for being here. Carat to combat, only LARPing, Blade Wallet, on such a half set of few words. Really wonderful.
I'm, you know, I've got to complete you. Flabbergess, when Joey told me that, you know, the principle of only, and I think it's absolutely incredible how you are fostering super fans this way because it's the people who
keep playing or you know keep coming back to watch the game and to put the karate tokens on the on the fighter and and also you know not risking their their tokens they you know you're actually creating those super
and personally now I was kind of amazed that Nukarati wasn't the thing yet. I thought it was a very big already big organization but apparently it wasn't so very excited to see this being developed and this being
develop on Hadar as well, the app. And personally, I guess a lot of people of my age, well, I'm in my 30s, probably a bit younger and a little older, that we were growing up with, we grew up with karate, not karate kids and what kind
of films it were but I remember from primary school you know these my peers they all did karate and they all had these karate bands and colors and it was a real thing so
You're also kind of, you're also playing a little bit on that sentiment, I guess, you know, it's kind of, it's kind of exciting. How is that for you by the way, just for last few words, you know, if you're talking about sentiments and growing up with karate and seeing, you know, I don't know what exactly
the audiences of Grat as in the demography, is it in date like more male in the 30s? I don't know. Is that the case? And how do you see that with the sentiment and going back from, oh yeah, that's really the Gratik kid stuff and more recent.
The demographics of the league.
the fans. Sorry. You're asking what the demographics of the fans are.
Yeah. Oh, well, I mean, so we really designed the whole league to appeal to younger audiences. So that's what we got. So it's pretty young. It's pretty mal because it's a fight sport. It's very international. The fans tend to follow where the fighters are from. So our largest fan bases are US Brazil, UK.
you. And yeah, but pretty young because like, you know, utilizing over the top distribution on social media, super tries paste and then like the background sort of market themselves. So pretty, pretty new.
Awesome. Great. Wow. Thank you for that. So I'm not very, very excited to keep following the progress of Gerrotti Combat. No doubt this is going to be bigger and bigger. I mean, you've already
you got a great and big start. Thank you so much for being here. If anybody would like to say some last words, maybe Joey, otherwise I'll end this space.
and I think we're off to the next phase and we'll have there. - Yeah, no, Joey. - Thank you, thank you, Milan. Thank you, it's only a large thing for coming up and talking about your project.
The future looks bright and I really appreciate how you guys are doing things and I hope you're not mad if we copy some of your ideas along the way as we go as well. No, I was going to leave. No, and I'll see you next time. Thanks for taking it.
time out and everybody's good to see the picture of a group that came and left them today and stuck with this and don't forget next week, same time, Patrick and Marcel. They usually have a whole slew
Yes and per host and they always have a great topic so until next week I'll send off. Thank you. You have a great week Thanks guys. Thanks a pleasure. Thank you. Goodbye