AMA with Money Tree | Transcript
Q: Each project has interesting stories to share. Can you tell people what motivated you to develop a great project like yours?
A: Money Tree was in development almost for the entire 2021. I was originally inspired by the innovations that led to a rise in the popularity of GameFi projects in the blockchain space. I felt that blockchain provided a unique framework for developing games in a fundamentally different way.
Many of the existing GameFi and NFT projects are somehow centralized. This goes against the core principle behind blockchain. I began to design Money Tree as an all-in-one platform that runs on the blockchain with no external dependencies to provide players with a transparent environment where all processes can be verified independently. Money Tree has intercorrelated DeFi, GameFi, & NFT capabilities that function in a new way. Players keep 100% of the prizes in our statistically fair games. They can even interact with the platform directly through the blockchain via BSCScan.com.
Q: What are the differences between the Money Tree NFT game and current popular NFT games? Do players need to pass KYC to play it? Is there an age requirement to join the game?
A:Given the decentralized design of Money Tree, there are no KYC or age requirements to play.
Users can connect their wallets to our website to begin using the GameFi dApps as well as the NFTs. The Money Tree NFTs have unique characteristics and utility over and above scarcity.
Money Tree NFTs are deflationary. They can be burned and combined to upgrade to a rarer NFT. There is a total of 1 million unique NFTs of all rarities, with 30k of legendary NFTs.
All the NFTs can be staked to “grow $MONEY” in the staking dApp. The NFT owners get weekly dividends in $MONEY tokens derived from the transaction taxes and the revenue generated from NFTs and loot boxes purchased on the website.
All the Money Tree NFTs are stored on IPFS to remain immutable. They come with metadata, including attack, health, and magic stats. These stats will be used in a peer-to-peer NFT battle game that will be released later this quarter.
Q: How many games do you have, and what is the team behind your games? How exactly can users earn money playing your games?
A: I have designed Money Tree in a way that allows new games to connect to the platform relatively easily. Since the launch, we have had multiple statistically fair games of chance available on the platform.
These games include Gridlock, similar to traditional roulette games but without the number 0. Eliminating the number 0 effectively removes the “house-edge” from the game. Theoretically, users can play an infinite number of games, and their overall balance will average out.
All of the currently available Money Tree games are designed with the same philosophy. The odds of winning are always mathematically proportional to the prizes received.
I developed all the games. They are hosted on the blockchain with no external inputs, which gives players the ability to verify the integrity of the transactions. Money Tree works closely with Chainlink to utilize the VRF capability and provide a true source of randomness.
We are working on other games, including an NFT battle game. We aspire to have a fully decentralized arcade available in the Metaverse.
Q: Tell us about your NFT staking, please. Do you have your NFT?
A: We have a collection of 1 million unique deflationary NFTs that can be staked to claim weekly MONEY tokens through the “Grow MONEY” dApp. Users can stake their NFTs for as long as they want to continue generating dividends.
Staking locks NFTs for one week. Then, they can be unstaked. The weekly dividends for staked NFTs are generated from the buy & sell tax and the revenue from all Money Tree NFTs sold. Just stake your Money Tree NFT and earn MONEY from all future NFT sales.
Our NFTs can be burned and upgraded. Two combined NFTs of the same type get users a rarer one. The rarer the NFT staked, the more dividends it generates. 16 common NFTs give the same dividends as 1 legendary NFT. This is the statistically fair vision of Money Tree.
Q: NFT games are becoming common nowadays, but many vanish because they lack a profitable economic model. What economic structure did you develop to make your game profitable for users in the long term? How will you keep users incentivized?
A: The existing NFT collections offer value from their scarcity, not their utility. With every released NFT collection, the expectations of the end-user increase. We are beginning the rise of NFT 2.0, where the NFT doesn’t just record ownership but provides additional benefits to owners. Our staking functionality was released two weeks ago and became popular. Over 10k Money Tree NFTs are actively staked.
Our NFTs are also unique because of a seemingly large supply at launch. However, it will constantly decrease due to the burning mechanism. Eventually, there will be only 30k legendary NFTs left.
We use a proxy contract for our NFTs to continue adding new functionality. In the NFT battle game, users will have the chance to win MONEY or BNB from each other. Also, they will have the ability to bet the NFTs themselves. We would also like to connect Money Tree NFTs with the 3D assets within the metaverse.
Q: What features are you mostly relying on? NFT, gamification, or DeFi? What do you think will bring you success?
A: Money Tree is really designed to be correlated with DeFi, GameFi, & NFTs simultaneously. It’s important that users can choose how to use our platform.
Holders of MONEY can purchase tokens and benefit from the weekly passive income in BNB & MONEY tokens. All holders of MONEY are automatically added to a free weekly BUSD lottery, where they can win without doing or paying anything.
Players can engage actively with our GameFi dApps where they get a chance to win even more prizes and increase their number of NFTs and tokens. Users can also choose how to interact with their NFTs. They can stake, collect, or trade them on our marketplaces on Lootex.io, NFTrade.com, & tofuNFT.com.
The DeFi, GameFi, and NFT processes are all built to work closely together. The maximum benefit from the Money Tree platform is achieved through the utilization of all 3.
Q: How many turns a day can be made in the Money Tree game? Is there a bonus mechanism? The current issue of token inflation causes many projects difficulties. Does Money Tree have a buyback, burn mechanism, or a strategy to limit this problem?
A: Users can play Money Tree games whenever they want. Players can place positions and tokens in the individual games throughout the day. The results are run on-chain once a day at 11 pm UTC. The results are recorded on the blockchain and announced across our socials.
Depending on the game, users will either get their rewards directly to their wallets automatically or have to take them from the website or BSCScan.com. All processes run on the blockchain, so the prizes and dividends will never expire. They can be claimed whenever users want.
We occasionally host bonus promotions, such as our recent New Year’s 50% NFT loot boxes sale.
The Money Tree token is deflationary. When an NFT is purchased, 10% of the sum is permanently burned. Money Tree uses a true burn to reduce the overall supply and take the tokens out of circulation. We don’t send tokens to a “burn address” like many other projects. Money Tree launched with a 1B initial supply, and more than 6% has been burned through since the launch.