BitMart, a premier global digital asset trading platform, recently announced the listing of Eight Hours Token (token symbol: EHrT) on its Shooting Star trading section. THE 8HOURS FOUNDATION’S MISSION is to create ways for people to come together and play, strengthening their social fabric. EHrT(s) - Eight Hours Token(s) - are fungible tokens used throughout the 8Hours platform and function as the main currency of the 8Hours ecosystem. They can be used directly within platform apps for content access, but their true purpose is to interact with VIM. VIM - Virtually Integrated Metadata - is the core of the 8Hours platform meta system. It is a non-fungible token (NFT) built on the VeChainThor blockchain, which stores data and transactional history, and, as such, functions as a memory capsule, a collectible, a digital wallet, and a tool for gameplay and human connection.
On September 29, 2020, to better help BitMart users know more about CurrentCoin and its team, we held a Telegram AMA with the topic of “Ready for the NFT Wave? Time to get $EHrT on BitMart". We are pleased to have John Dempsey, CEO & Founder, join the AMA and share valuable insights with our community members.
If you missed the AMA live, check our AMA recap below for more details:
[GUEST INTRODUCTION]
John Dempsey is the founding director of 8Hours Foundation — working on this project for a couple of years now. He has a strong passion for games and collectibles and dropped out of his college studies of Computer Engineering to pursue his passions in the startup industry.
[AMA]
BitMart Admin:
Q1. Can you please introduce yourself and share a bit more about your story and how you became one of the co-founders of 8Hour Foundation, and the relation between 8Hours foundation and VIMworld?
John:
Hi everyone, thank you for having me here today. We are so excited to have $EHrT officially listed tomorrow on BitMart.
I started the 8Hours Foundation because I wanted to help people connect with one another again. I grew up playing board games with my family and friends all the time, and playing games together is one of my most fond memories looking back. I truly think that games were one of the things that helped us stay together throughout all this time, and so I started building this social game platform.
Upon the start of 8Hours Foundation, we began growing the ecosystem, both with business partners, community members, and interesting projects. VIMworld is an 8Hours Foundation ecosystem project that focuses on digital collectibles and in developing our Smart NFTs. VIMworld develops the actual applications that users will interact with for their EHrTs and VIM collections. It’s the home for all of our content, including games, rewards, and licensed collectibles.
BitMart Admin:
Q2. What problems are the project trying to solve in the existing NFT market? How does $EHrT token different from other gaming projects within the industry?
John:
The existing NFT market is too difficult for casual users to use.
Our project has the unique ability to bring in casual users who are unfamiliar with crypto, we are built for mass adoption. Instead of a regular dApp, we are building an encompassing platform and centralized account management system so that users enjoy the benefits of blockchain without the hassle of learning about crypto and wallets and mnemonic phrases, which is one of the biggest bottlenecks for crypto mass adoption.
Also, we take a more character-oriented approach to creating a gaming platform that involves digital collectibles. We want people to care about their VIM above all else, which leads to interesting ways of interacting with your VIM such as feeding them EHrTs. VIMs can collect treasures, which offer utility and make each individual VIM more and more unique. For example, Genesis treasures mark the very first VIMs ever minted. Our VIMs also have IoT capabilities when they are connected to toys. These “Smart NFTs” optionally serve as a hardware wallet.
In this mode, our physical objects hold a hardware-encrypted key via NFC for only the single VIM it represents. Therefore, users must have the hardware figurine (enabled with NFC) to trade or transact and are not dependent on currently clunky wallet interfaces.
BitMart Admin:
Q3. Can you give us a high-level overview of what VIMworld is and what competitive edge it brings to the NFT landscape?
John:
We have merged the physical and digital worlds unlike anyone’s ever done before. This is actually the way to reach existing big brands since we work with their existing content non-intrusively. This is a way that collectibles can be truly understood by the masses and introduced to kids, moms, dads, and players of all ages. We also have done more revenue by selling PlayTable (actual product) than what some other projects have raised in entirely and signed exclusive partnerships where we can tap into pre-existing non-blockchain communities.
VIMs themselves are a completely unique take on NFTs. Since we focus so hard on the characters themselves, and what makes them unique, we are able to provide a completely new medium for creators to express themselves -- everyone from artists to game developers to storytellers.
Thirdly, although we are a platform, we are developing the initial apps and games ourselves. This is to ensure that in the early days, there is enough content for users to enjoy on the platform without being dependent on other relationships or partners for providing content. The experiences users will have serve to keep them addicted to the game and our staking mechanisms by occasionally rewarding users with tokens or “in-game bonuses” to spend their EHrTs on.
BitMart Admin:
Q4. What’s your long-term vision for $EHrT? What are your expectations for the development of this technology in the next five years?
John:
EHrTs will continue to grow its platform for social games and further its mission of connecting people. We support technologies in the IoT space, the digital collectibles space, and the gaming space.
In order for casual everyday users to join and be able to interact with the platform, we are creating technologies that lower the barrier to entry for using blockchain technology. Our technology strategy is to keep core logic and back-end services centralized to a single user account system to optimize user experience. Innovations among our back-end services include:
A system for updating smart contracts / architectural changes seamlessly without breaking the core user experience. Our smart contracts are modular and each serve a different use case for the platform. For instance, we have a database tracking each VIM and lookup the version of the “Tier” smart contract they are using. In order to update, we push an update out to users where they can click to “update” their VIMs to unlock new features of the latest smart contract
Our strategy revolves around a centralized account management system which features hosted wallets and a custody system for VIMs. We provide a secure mechanism for users to interact with their VIMs through a centralized account, and resolve their actions on the blockchain for them. This requires both a hosted wallet to exist on mobile and on our cloud servers.
BitMart Admin:
Q5. Can you briefly explain how the top milestones that the team aims to execute before the end of this year?
John:
We have a lot of interesting projects we’re working on. For example, we are working on many different new ways for people to interact with their VIMs. From playing games, to trading them, and new ways to customize them. We want to continue to grow our community and user base, and build the technology to make it possible for anyone to come in and get started with VIMworld.
BitMart Admin:
Q6. How do holders of the $EHrT token benefit in the ecosystem? Why should people care to own a VIM (smart NFT)?
John:
Holding EHrTs gives a lot of advantages, and the main advantages are within the VIMs themselves. VIMs are the key to the entire ecosystem - by feeding your VIM EHrTs everyday, you can have higher and higher Tier progression for your VIMs. Higher Tier VIMs unlock more features and grow more powerful within their games. S-Tier VIMs are the highest level and unlock special benefits, such as our VIMpool and random community events such as Alanna’s blessing.
BitMart Admin:
Q7. The VIMworld ecosystem can directly drive the growth of EHrT demand, so how does 8Hoursfoundation achieve EHrT's user growth and EHrT token value growth?
John:
Since EHrTs is the fundamental currency for VIMs, EHrTs will be in demand for everything to do on the VIM platform. VIMs create more users for the community of EHrTs by using a strategy of acquiring several niches of communities who are fans of certain brands. That is our strategy for getting EHrTs user growth efficiently for people who are not familiar with blockchain and already part of crypto ecosystems.
BitMart Admin:
Q8. Why is EHrT getting listed on BitMart? What is the future partnership plan?
John:
BitMart has a great community and is a great exchange to list on. We plan to partner with BitMart to increase our community in China and presence there, as well as provide other trading pairs that we have not had in the past.
BitMart Admin:
Q9. Will there be NFT VIM collectibles from partners who will sell on VIMworld? Many NFT projects fail to get external partners.
John:
Yes, in fact we’ve already partnered with artists to sell their VIMs on VIMworld on a small scale. Our model is to work with partners and to serve their needs as a platform, so our business development team is among the best in the world. We have licensed brands and character IP from different companies and individual creators who are keen to create their own versions of VIMs and begin selling through this new channel.
BitMart Admin:
Q10. The NFT market and collectible gaming market is difficult to penetrate. Many toys and brands are owned by large companies. Do you have partnerships or advisors that can help you gain adoption?
John:
Yes, we have top advisors who are helping us to open doors to publishers and gaming companies. Kai Huang, who is a cofounder of Guitar Hero, has been tremendously helpful in crafting our hardware and content strategies. Glen Schofield, founder of Sledgehammer Games (Call of Duty franchise), is also helping the project to get where it needs to go in terms of content and games. Michael Katz, former President of SEGA, is another project advisor that helps us with connections in the industry.
Additionally, VeChain Foundation has been a great help in enabling us to have these B2B type relations with companies. Our advisor CREAM has incubated us to set the best strategy for gaining adoption with other companies and having it make sense for them to work with us and shares our views on the importance of community at a strategic level.
[Free Q&A]
Question from a Community Member:
Q1. What are the major innovative contributions that #VIMs bring to the DeFi ecosystem, and how can they improve the experience of users in the management of their funds?
John:
We are already global, with communities in Eastern Europe, US, and China. You can join our TG to get connected to the right social channels to follow us! https://t.me/VIMworld
Question from a Community Member:
Q2. What are the major innovative contributions that #VIMs bring to the DeFi ecosystem, and how they can improve the experience of users in the management of their funds?
John:
We have an innovative staking mechanism with our VIMpool, where users can feed their VIMs to S-Tier and participate in ongoing rewards. Users can #VIMFarm with their collectibles at the same time as using them for playful interactions. Learn more at our blog. In addition to joining our TG, you can also join our twitter for more updates! https://twitter.com/VIMworldGlobal
Question from a Community Member:
Q3. Adoption & Awareness about Platform is very important for any Creator as well as Users! So, What are your plans to attract More users as well as Creators with Non-crypto users too ?
John:
We have an easy way for users to get their hands on VIMs. If you want to get started, you can apply to Adopt a VIM via https://vimworld.com/adoptavim. This gives people a way to start feeding their VIM and can start sharing their experiences with their friends
Question from a Community Member:
Q4. Can you list some of Vimworld's outstanding 1-3 killer features for everyone here to know about? What are the products that Vimworld is focusing on developing ?
John:
1) Feeding EHrTs as a "soft stake" to be able to participate in rewards and features such as EGGs
2) VIMs feature progression of art, so they will evolve with the user
3) VIMs can hold Treasure tokens to make them more unique and rare, which signify anything from being the first type ever, to winning certain events
We're focused on developing our VIMArena and a few other platform-level features that we're excited to drop very soon. You can ask what makes our community excited in our TG here: https://t.me/VIMworld
Question from a Community Member:
Q5. In the Whitepaper, besides IGCs, the 8Hours Foundation platform also provides other utilities like Authentic Asset Certificates (AACs) and Colored Tokens. Is it possible to introduce these in a simple way so all of us can understand it easily? Also, will there be more utilities added?
John:
I invite you to join our community, https://t.me/VIMworld, to discuss with our fans. We really love community engagement and it's a very friendly place for newcomers to be able to understand the platform. Our members love helping newcomers and helping people find the right resources to conduct their due diligence. I think it's important that people really research and understand us, and our community does a fantastic job. More utilities will be added, and we have regular fun giveaways through our VIMs and community events
[ENDING]
John:
Thank you everyone for having me, please remember to join our TG to ask any of these questions, our community loves welcoming newcomers and getting people introduced. There are plenty of fun giveaways we do, community events, and more and more features coming to VIMworld all the time.
[Useful Link]
- Official Website: https://www.8hoursfoundation.org
- Vimworld: https://vimworld.com
- Whitepaper (EHRT): https://www.8hoursfoundation.org/static/media/whitepaper_english.0275726c.pdf
- Whitepaper (Vim): https://www.8hoursfoundation.org/static/media/VIM_Whitepaper2.0.362916f5.pdf
- Explorer: https://vechainstats.com/account/0xf8e1faa0367298b55f57ed17f7a2ff3f5f1d1628
- Twitter: https://twitter.com/vimworldglobal
- Telegram:https://t.me/VIMworld
- CoinMarketCap: https://coinmarketcap.com/currencies/eight-hours
Comments
0 comments
Article is closed for comments.