Itchiro Answers the Community at AMA LOVERS CLUB

Hosted on Telegram at Sat 31st, 16h UTC

10 min readNov 2, 2020

As our presale started, we jumped into an AMA session with AMA Lovers Club, a decentralized community that shares valuable information on blockchain projects. Here is a transcript from the interview hosted by malachi456, last Saturday, live on his group, where two representatives of Itchiro responded.

Introduction

Malachi456: Can we begin with the introduction questions?
DeFi Pikachu: Hello everyone, nice to be here
- We are glad to answer questions from the community

Q1 Can you please introduce yourself and your background, also? If you have a team, you can introduce them.

Yes, we are a team of developers and gamers who love blockchain and the decentralized ethos, which we support.
With this mindset, we realize that the industry lacks a complete “go-to” market where game devs can meet blockchain enthusiasts and players.
A Steam or similar but decentralized, but with more perks that the gaming community may love.
That’s why we decided to create Itchiro.
Our team is anon for now, so as not to induce judgments or misconceptions, we work with game devs, designers, etc. in house.

Q2 Can you introduce the itchiro project? What critical problems does it solve that existing solutions are not solving and what’s the competitive advantage?

Sure, we are creating the infrastructure so that NFT projects and game devs can integrate seamlessly.
Right now, projects rely on third-party solutions and cannot integrate “easily” with other projects.
We are willing to close the gap with community, devs, games, economics, and so on.
Adding to what Pika just mentioned, the idea behind Itchiro originated from gaming devs realizing that infrastructure on Ethereum is not ready for the lifecycle of NFTs — minting, managing, selling, etc. — that plan is to build these rails.

Q3 Can you briefly describe the Top milestones you want to achieve with timelines, also share your roadmap and also your WHITELISTING process

Our roadmap milestones are:

Today — Presale
Sunday — FCFS
Monday — Liquidity Farming Program #1

Mid-November — NFT Marketplace
Mid-December — NFT Mobile Wallet

Late-December — Our first game release

Full disclosure we’re working with Enoki.finance to build the NFT marketplace
We’ve been working internally on the mobile wallet for NFTs since August; still needs theming as we want it to look like Nintendo
We’re also working with Enoki, Badger, and other projects we haven't announced officially to create a mobile game for iOS and Android where users can farm different coins….everyone has played Farmville; imagine playing with real money
Our whitelisting process was broken down like this:

75 WL — Winners of meme competition
25 WL — Winners of Discord + Telegram competition (unannounced)
50 WL — Game developers, designers, marketing, mods (DM us for info; 32/50 have been taken)
200 WL — First Come, First Serve (👇)

The first-come, first-serve mentioned here happened through a public form.

Questions from Twitter

https://twitter.com/kingkingdom56/status/1322320375716470787

How is Itchiro different?

In short — Itchiro Games wants to build infrastructure for indie games to come in and leverage DeFi/NFTs for managing the lifecycle of an NFT.
Our approach is to first work on general infrastructure on the direct to the customer side, hence the NFT marketplace and mobile wallet
But ultimately, farming, liquidity mining, or whichever taxonomy — they can all be gamified into “Farmville” like games.
It’ll help with DeFi adoption and allow for a larger crowd to participate, not just the DeFi crowd and the crypto curious, but old finance too.
Naval had a recent quote where he said, “when wall street realizes DeFi is a better casino, everyone will come.”

https://twitter.com/naval/status/1304963641100259328

Here it is, actually. ☝️
We want to open the floodgates through infrastructure; that's why our token cap is so small that the token appreciates as a rev share gainer.

Does Itchiro have a plan of building its own infrastructure & marketplace where users will be able to issue & sell blockchain-based items?

The short answer is no; we think Ethereum may or may not scale, but there are lots of layer 2 solutions or scalability rails like zk rollups; on the other hand, there are many DPOS chains like Skale, or larger chains like NEAR, or even unpopulated chains like POA that all execute EVM code, so no — there is no need to rebuild the wheel here.
Our focus is mainly on infrastructure for users (initially) and then for indie game studios.
To expand a little bit, even Binance’s smart chain can execute EVM code, so there’s really no need. Migrations to other platforms don’t make sense either way now because Ethereum has concentrated all the liquidity.

So why did you decide to call it a firstborn? And what is the plan for Itchiro in the nearest future?

Haha, this is a good question. Without revealing too much information, all of us come from a Japanese or Korean background. Half of the team worked on pretty big games in a Japanese game studio. We’re all old skool gamers; we played maple story, dungeon fighters, etc.

It happens to be we‘re all interested in DeFi, and because this is our first project in the Defi space, we decided to call it Itchiro. It’s pretty cheezy; we know haha.
Also, “Ichiro” means firstborn, “itchiro” with the “t” is something we added as an inside joke, but it's pronounced “itsochiro” with Japanese characters. It doesn’t matter much, feel free to call it “itchiro”! We love it!

Thanks for the answers to the Twitter questions
Now let’s proceed to the quiz segment quickly.
We have 4 questions. Just type the correct option. Thanks
Guests will choose the winner

Quiz

Q1. How is Itchiro Games different, and what is your long-term target?

We create infrastructure for NFTs so devs can focus on games.

Q2. Does Itchiro have a plan of building its own infrastructure and marketplace where users will be able to issue and sell blockchain-based items?

Yes, we do. We build our own marketplace.

Q3. I am very sure that this is not the first gaming industry in DeFi. So why did you decide to call it a firstborn? And what is the plan for Itchiro in the nearest future?
Our infrastructure will connect game devs, influencers, traders, and — ofc — games.

Q4. What’s the correct username of our guest, DeFi Pikachu, from Itchiro Games?

Detective Pikachu! We are @DefiPikachu and @defimario on Telegram. Beware of scams, gamers.

Telegram Live Round

Where Are You Planning To List Your Token Itchiro game In, Other Exchanges?

UniSwap and we have an upcoming CEX we’ll announce this week. We’ll continue doing CEX throughout November and December.

ITCHIRO is Japanese based project, no doubts, what incentives do you have to have other larger communities connected to the project?

Including their farming in our games, their NFTs in our games (i.e., Enoki), but we have more unannounced.

How do my NFT’s maintain their value over time Is there a deflation mechanism in ltchiro Games? Are there NFT’s limitations for each object.

The NFTs will mainly come from other projects that send their NFTs to our games; badger.finance is doing this with us and their Badger token.

How many slots are available at presale #ltchirogames this time? What is the minimum transaction to participate in the $JEM presale, and how do I make a payment?

Full information on presale on the official presale announcement.

What are Itchiro’s long-term mission and vision in combining DeFi Blockchain + Game + NFTs?
Will users holding $ JEM receive a share of the service fees? Also, are they entitled to vote under the DAO mechanism?

$JEM token holders get 90% of all platform fees (mobile wallet + dex) pro-rata. $JEM is our governance token; it decides the project's direction in our DAO and receives cashflow from the GAMING platform, DEX, wallet, and protocol for games (this last one is WIP).

What is the main role of $JEM Token in the DeFi Itchiro ecosystem?
Will Itchiro have any support for projects or Dapps who want to develop contracts with games that generate NFTs on their platform? Do you have development funds to encourage and engage them?

We have a dev fund allocated for projects who want to work with us. We want to build an NFT minting dApp, so any person can issue their non-fungible and list it on our DEX,

Ship daily, weekly, monthly — token will appreciate by itself over time with cashflow, we want to build a tighter community, in the future, our TG won’t be investors like most of them are right now, they’ll be gamers.

What is the meaning of Pre-sale? Can you Elaborate on the Token Itchiro game Pre-sale?

Presale means you can buy tokens at a discounted price; in the itchiro presale, we gave out $JEM tokens 3:1, UniSwap listing will be double, 1.5:1.
Some people brought to our attention that the token will dump because of this, but we disagree; many investment groups offered as many BTC and ETH to participate; we declined them all.
We expect them to participate in the first-come, first-serve tomorrow at noon and then on the Uniswap listing shortly after.

If we want to play your games, then what should we do first?

Download our wallet and play our first game called “The Jungle” in December — hush, hush, we haven’t announced anything about the game yet.

Many of the traders care about transaction fees. Why did you choose Ethereum for your project? What makes itchiro different from other NFT games?

Ethereum is where all the liquidity is concentrated. Also, best developer tooling.

We are different because we are game developers and old school ones, not and people.

What is your background, and how did you come to the idea to create your platform? Could you share some words on it?

I have a technical background in math and physics, became a game developer a long, long, long time ago, worked in backend for gaming companies, and now doing a bit of stadia development … currently building a backend for itchiro games (AKA connecting to solidity), I’m also helping build the wallet.

Why did you choose to develop your platform NFT Mobile game token?
NFT Mobile Wallet will be a great application as users can easily manage their NFTs. However, most of today’s NFTs still run on the ERC-20 platform, and the high fees are still a weakness. So Does Itchiro have a solution or plan to help users reduce these costs?

Users who farm with Itchiro will get discounted fees on the Web3 wallet; why? Because the farmed tokens allow for them to be liquidated publicly and reduce the fee costs. We’re working on this for our farming program; it's like membership on our game platform.

What happens when you run out of money? How will $JEM create revenue other than minting tokens?

$JEM is a governance token that also receives pro-rata cashflow from the apps, platforms, and protocol…most of it goes to the JEM holders, the power to the people.

So many Defi and NFT projects that have many benefits for long-term holders, for example, Staking, Delegation, and validation! What are the benefits of $JEM tokens for passive income?

Are staking and delegation really that great? All it does is cut the circulating supply, which may be good. We want the best of both worlds; the token can go up and down as the market determines and gives you passive income….also, farming financially works like staking, so; there’s that.

Will you give anyway for buying in-game stuff in your future game? If so, can we buy it with every crypto or just with your project token $JEM 💎?

The team isn’t a fan of giving away tokens. We didn’t do that before. The presale doesn’t happen now, I reckon.

Unfortunately, some projects remain halfway because their developers abandon the concept because they cannot achieve the desired capitalization in the long term; how do you plan to make this project sustainable for its development?

We’re working with pretty legit projects like badger.finance and enoki. Finance, there's no rug pull. Update: our liquidity is locked for 1 year on Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0x21cf09bc065082478dcc9ccb5fd215a978dc8d86

What are Itchiro’s long-term mission and vision in combining DeFi Blockchain + Game + NFTs?
Will users holding $ JEM receive a share of the service fees? Also, are they entitled to vote under the DAO mechanism?

The answer to question 2 is yes.

How is it possible that allocation is 562.5 JEM, 1 ETH 2.25 JEM, and the buy limit is 999 ETH?

The 999 ETH is a placeholder; it means anyone can invest anything.

In your Twitter profile, I could see you supporting a conference aimed at women about blockchain technology. Does Itchiro plan to continue supporting activities that contribute to disseminating knowledge about cryptocurrencies and blockchain in the community?

100%, as I mentioned, Defi is here to stay, probably will be very profitable for the next 2 years, all communities will find out about it over time, why not help catalyze this. Plus, gaming makes things easier to understand and funnier 😉.

What will you do with all the #unsold tokens from the #Presale? Are you going to burn them or? Are Itchiro games web games or an app game like they are available on #Android and #ios devices?

Unsold tokens from the presale are up for grabs on a first-come, first, serve basis on Sunday at 12pm EST. iOS and Android, after that, its web apps.

Many projects rug pulled and exit scams recently. Why should investors trust your project not to do the same?

We’re partnering with a real project, we’re not going to do anything crazy, and they did their DD on us 🙂.[and we locked liquidity pool for 1 year: https://app.uniswap.org/#/swap?inputCurrency=0x21cf09bc065082478dcc9ccb5fd215a978dc8d86]

We have answered as many questions as possible during this AMA. Last night, we also did an AMA with Defi Degenerates hosted on their Discord server. Stay tuned for updates.

Follow Itchiro

If you’re a game dev, marketer/influencer, or designer who shares similar interests in building infrastructure for gaming in DeFi, please DM us on Telegram. Below are some important links to keep you updated with everything we announce:

Website: itchiro.com
Discord: discord.com/invite/M2UySpe
Twitter: twitter.com/itchirogames
Memes (Telegram): t.me/itchiro