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Blockelite X KingSpeed AMA Recap

Thank you to everyone who joined AMA Blockelite x KingSpeed on 10th December at 03:00 PM UTC I 10:00 PM (UTC+7). Here is the recap for those who missed this AMA.

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Yuno – Blockelite Host: Hello fellow Eliters and welcome to another Blockelite AMA Series
So ladies and gents, Our special guest today is Mr. Tuyen Khuc – CEO of Kingspeed
Hello @tuyenkhuc_kingspeed , welcome to Blockelite today

Mr. Tuyen Khuc – CEO of Kingspeed: hello Yuno, hello everyone.

Yuno – Blockelite Host: How are you today?

Mr. Tuyen Khuc – CEO of Kingspeed: I am so happy to be here today to share with you about Kingspeed ❤️

Yuno – Blockelite Host: So great 🙂
On to the Segment 1 of our AMA, we hope you’re ready for the next few questions coming at you!

Mr. Tuyen Khuc – CEO of Kingspeed: yes, I am ready, Yuno.

Yuno – Blockelite Host: Our guest is ready, we will enter Segment 1 right now !!!
Q1: Please introduce yourself and project

Mr. Tuyen Khuc – CEO of Kingspeed: My name is Tuyen Khuc, I am CEO of KingSpeed. I had almost 7 years working in product/software development, 4 years working at Kyber Network , and I found myself deeply passionate about blockchain, NFTs, and car racing.

Our KingSpeed team also has a lot of faces with many years of experience in the field of blockchain, game & design. We all want to bring the best quality product to the community.

KingSpeed – Virtual NFT Car Racing Universe!
KingSpeed is a complete NFT car racing ecosystem where you can FREE to participate in car races, build your own NFT land track , and make a profit while playing it.

Yuno – Blockelite Host: Thank you, for your introduction, our pleasure to have you join us today
Next question
Q2: Please share a brief KingSpeed project timeline?

Mr. Tuyen Khuc – CEO of Kingspeed: Concerning the product, we have reached an agreement on the game design, art concept, and have a demo game. We have also worked with many major funds and partners in the global market to create communities on social networking sites in order to provide users with the most up-to-date information.

KingSpeed completed a $1.2 million private sale, KSC was successfully IDO and now has listed on PanCakeSwap

👉 You can find $KSC on PancakeSwap ($KSC/$BUSD): https://pancakeswap.finance/swap?outputCurrency=0x3ac0f8cecc1fb0ee6c2017a072d52e85b00c6694
👉 $KSC token Smart Contract: 0x3ac0f8cecc1fb0ee6c2017a072d52e85b00c6694

We will have the following major activities in the near future:

  1. The STAKING system will be launched in the coming weeks; we are currently in the testing phase and will conduct extensive testing prior to launch. We will have rewards for those who join soon. So, if you don’t want to miss out on the latest news, follow @KingSpeedglobal
  2. NFT Sale – The first NFTs will be released, and they will be sold in limited quantities.
  3. In addition, KingSpeed will complete the Web beta in December and metaverse development in early Q1/2022

Follow us to stay up to date on the latest project news.

Yuno – Blockelite Host: 2022 will be a special year for KingSpeed
So look forward to it
Next question
Q3: Could you share with us what problems would KingSpeed solve?

Mr. Tuyen Khuc – CEO of Kingspeed: Yes, of course. Kingspeed is a racing game that allows users to:

  • Own collectibles: own cars, car parts, characters, race tracks as NFTs. Each NFT has NFT floor price to make better liquidity
  • Play to earn model : this model will help users able to earn money while playing the game
  • Stake and vote to govern Kingspeed: Users can stake their KSC tokens to earn rewards and have the power to vote in game development decisions.
  • We combine both Free-to-play and Play-to-earn models to our gaming system.
    Each user will be able to claim 1 free common car to start playing the game.

Yuno – Blockelite Host: Sounds great, thanks for answer
Continue with Q4
Q4: What kind of NFTs will KingSpeed release at the moment?

Mr. Tuyen Khuc – CEO of Kingspeed:

KingSpeed is a racing game, so we will have NFT cars and NFT race tracks.

This is one of our NFT cars

Yuno – Blockelite Host: Wow
Okay, last question in segment 1
Q5: What are the gameplays of KingSpeed?

Mr. Tuyen Khuc – CEO of Kingspeed:
We currently have 4 gameplays of our game, from simple to need time to become a master :

  • Daily quests: The game will provide daily quests for the players (select randomly in a pool of prepared quests; Each daily quest will need a different number of mini quests to finish and provide various reward accordingly;
  • Time trial: Players can race daily and the game will store their highest performance race. The score will be compared between the players
    The top highest ranked players will be awarded accordingly
  • Multiplayer race:
    Players will race against each other in the race track
    Maximumly 8* player can compete at the same time
    During these races, cars can collide with each other by using special items given by the game every 20* seconds. However, it will not result in any serious damage.
  • 1-1 race: Players can arrange a 1-1 race against their friend or other players in the same group. The race is accepted when another player joins. Both players need to deposit the same amount of token.
    When the race ends, the player with better performance will win all of the token

Yuno – Blockelite Host: We wrapped up nicely the first part.
Thank you @tuyenkhuc_kingspeed 🙂
Are you ready for Segment 2 (5 best questions from twitter)?

Mr. Tuyen Khuc – CEO of Kingspeed: yeah, I am ready Yuno ❤️
let’s goo

Yuno – Blockelite Host: Our guest is ready, we will start Segment 2 right now !!!
Q1: We all know King Speed is an NFT racing game, However, One of the major problem weakness of NFT games, they are, not gamer-friendly. It usually lacks gameplay and storytelling. What kind of gameplay and gaming experience will King Speed bring to us ?

Mr. Tuyen Khuc – CEO of Kingspeed: Thank you for your inquiry. Yes, we can confidently state that KingSpeed is a racing game with a carefully crafted plot and gameplay. In terms of plot, KingSpeed was inspired by the world’s impending collapse, so we launched many races with extreme weather and many models to be able to compete in that race. We will be releasing new models and race tracks on a regular basis, with a variety of concepts to entice players.

In terms of gameplay, KingSpeed currently has four gameplays, and we are also developing a rental system and a prediction system and so on

We will release beta game this December

Join @KingSpeedGlobal to update the latest news

Yuno – Blockelite Host: Perfect, thank you, next question
Q2: NFT Gaming is the fact that most of the games are pay to win because the more expensive NFT you buy, the easier you can win. How #Kingspeed will make sure that their game isn’t pay to win & fair? This is important so that the game will keep attracting new players?

Mr. Tuyen Khuc – CEO of Kingspeed: It’s a quite interesting question.
We are more focused on making a racing game that brings to users the smoothest and enjoyful experience.

In the next phase, we will have matching system to match people in the similar level to race.
So u dont have to race with higher level players in our matching system. So is it fair enough?

Yuno – Blockelite Host: So fair 🙂 haha
Next question
Q3: Revenue is an important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue of token? What is the income model?

Mr. Tuyen Khuc – CEO of Kingspeed: Agree with you. In Kingspeed, revenue model contains:

  • NFT sale revenue
  • Marketplace fee
  • In game activity fee

With this revenue model, we believe that we have enough fund to grow

Yuno – Blockelite Host: Look forward to it 🙂 want to see the Marketplace
Next question
Q4: Tell us about your tokenomics and token usefulness?

Mr. Tuyen Khuc – CEO of Kingspeed: Our token, named Kingspeed Crystal (symbol: KSC), is used in a number of ways:
+To purchase certain types of Collectibles
+To use as fuel to open loot boxes
+To stake and participate in governance votes, give users the incentives to hold the token
+To use to rent NFT cars
+To use to participate in a prediction game
+To use as a reward for completing certain actions or achievements in game or winning a race
+To use as a fee to compete in the 1-1 racing game

More infomation here

Yuno – Blockelite Host: Everyone can see the details on this link
Ok, last question of this segment, everyone please prepare good questions for segment 3.
Q5: How do you plan to spread awareness of your project in different countries / regions where English can’t be used well? Does you have a community approach for them to better understand project ?

Mr. Tuyen Khuc – CEO of Kingspeed: With a long-term and multi-phased project like KingSpeed, we focus on building and caring for the community from the start.

We have a main group @KingSpeedGlobal, now more than 100K members. In addition, we work with partners in many countries to build smaller native communities and use their languages. This is one of the important strategies of KingSpeed to develop the Global scale and ensure the information reaches all users of non-English speaking countries.

Currently, the main group @KingSpeedGlobal has over 100K members.

We collaborate with partners in many countries to build Native communities, and we have currently built 11 native communities:

Indonesian
Chinese
Persian
Africa
Vietnam
Arabian
Spanish
Russian
Philippines

Furthermore, we have established the KingSpeed Diamond Hand group, which will assist KingSpeed in taking care of users and delivering information to them as quickly as possible.

You can sign up for the event here: https://bom.so/4qCJls

Diamond Hand members will be able to purchase Private Allocation and NFT at a reduced price. Register now, as only 300 people will be chosen.

Yuno – Blockelite Host: You are awesome, thanks for answer all 5 best questions from twitter of my community.
Last Segment for AMA today, The guests will select 5 best questions from the community.

Blockelite community:
STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?

Mr. Tuyen Khuc – CEO of Kingspeed: After KSC was listed on Pancake Swap, we have a plan for a staking system

You can refer to the following link:
https://t.me/kingspeed_announcement/189

Blockelite community:
Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

Mr. Tuyen Khuc – CEO of Kingspeed: “In the immediate future, we will implement 2 options as follows

  1. We design our tokens has strong inner values like :
    +To purchase certain types of Collectibles
    +To use as fuel to open loot boxes
    +To stake and participate in governance votes, give users the incentives to hold the token
    +To use to rent NFT cars
    +To use to participate in a prediction game
    +To use as a reward for completing certain actions or achievements in game or winning a race
    +To use as a fee to compete in the 1-1 racing game
  2. We use one part of our revenue to buy back tokens
    We believe it will benefits for long term investors”

Blockelite community:
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?

Mr. Tuyen Khuc – CEO of Kingspeed: Yes, token holders can stake their tokens then participate in govern the project by voting what should we develop next

Blockelite community:
Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?

Mr. Tuyen Khuc – CEO of Kingspeed: Yes, for whitepaper, please visit: https://docs.kingspeed.io/
Absolutely, we need to audit our tokens contract, staking contracts, NFT contracts, …. So dont worry, we work with repuate partner to audit it”

Blockelite community:
What is your strongest advantage that you think will make your team leading the market?

Mr. Tuyen Khuc – CEO of Kingspeed: We have:
+Free to play
+Diversity way to earn money for both gamers and investors
+3D game to improve user experience

Yuno – Blockelite Host: Thank you for joining today AMA! It was awesome!
Our AMA session is now over !!!

🌐 To understand more about the KingSpeed project and their development, please access to the following channels: