DOUBLE TOP Chat, 19.01.2022
Perion is decentralized autonomous organization (DAO), which buys, rents and manages NFT assets to use in play-to-earn economy. Perion attracts gamers as independent contractors letting them use their skills to get benefits.
Participants of the AMA session: Darian – DOUBLE TOP representative, senior project analyst. Mitch – Perion Co-founder and Core Contributor. Mitch is highly-skilled assets manager and one who brings keen understanding of market strategy and an ever-willingness to optimisation and opportunity.
Darian [DOUBLE TOP]
Hello everyone!
We are glad to see you and welcome to the chat Mitch, from Perion, with whom we will conduct an AMA session.
Welcome to the DOUBLE TOP Chat!
Mitch [Perion]
Hi everyone!
Darian [DOUBLE TOP]
I would like to start with the simplest and most interesting question:
Tell us about the idea of creating Perion, how did it all begin?
Mitch [Perion]
Perion began in mid 2021 after our co-founder Amos reached number one in the world at Axie infinity. After his achievement he came to myself and Jan our other co-founder and shared with us the model of NFT gaming.
All of us had highly relevant skills for engaging in the space and so we dove in. I run a quantitative trading firm, trading crypto futures, while our other co-founder Jan was head of business development at a fiat to crypto on ramp partnered with exchanges such as Binance, Huobi etc. So the decision to move on NFT gaming was a simple one
Darian [DOUBLE TOP]
Sounds really great, talking about the structure of Perion, could you tell us more about organizations like Perion and what your purpose is?
Mitch [Perion]
Our main purpose is to lease NFT assets for gamers to use in play to earn economies. For players in developing countries the cost to enter NFT games might be too expensive, so we are able to fill that role.
Parallel to that anyone who is interested in gaining exposure to NFT gaming but isn’t sure where to start can hold our DAO governance token and gain a share of revenues Perion generates
Darian [DOUBLE TOP]
Now I would like to ask about the environment of Perion:
How Perion wins over competitors?
Mitch [Perion]
Great question!
In terms of our competition and our advantage I believe we have quite a few:
We tend to focus on competitive PVP – We generally have 3 or so players in the top 100 Axie leaderboard for example, we’ve previously held the number 1 & 2 spot concurrently. So our players far more than most organisations as rewards scale by skill level
We also developed our own proprietary smart contract to pay all of our gamers, so we remove the need for middlemen and as such are able to take a 50% revenue share where most organisations take 10–30%
As well as all of this there’s something that’s not often considered – We’re incredibly active within the entire game economy, not just through players. For instance in Axie we created our own API, tracked high value Axies, used proprietary smart contracts to breed the optimal pairings, then used another smart contract we developed to send them to our top ranked players, which gives them 60 energy instead of 20, greatly increasing their earning capacity. When eggs are hatched they’re transferred back and the process starts again. So overall we take into consideration all of the mechanics within the economy and how we can drive the most value for Perion.
I believe that sets us apart from our competition, alot.
Darian [DOUBLE TOP]
We see Perion has partnered with many well-known P2E games such as Ember Sword, Sidus, Galaxy Fight Club, so what are the criteria and selection process for your project to choose which games to set your business partnership?
Mitch [Perion]
Another great question. Our main initial touch point is finding founders who are passionate, have a bold vision and are driven. NFT gaming is in its infancy, so we’re in a fantastic position to back the projects that will have a lasting impact into the future.
The game’s economic loop is also a very important consideration – If the game is simply a microtransaction game with NFTs, we will avoid it 100% of the time. What’s important with NFT games is that they bring value back to the playerbase, allowing them to become involved with the economic cycle, and benefit from it. Game developers in this new economic model should let free market forces decide prices, and take a small fee of all economic activity that occurs within the system.
Another big focus for us is PVP. We’re very PVP oriented and tend to look at games where we can exert a competitive advantage. Unfortunately there are a lot of bots in the PVE games we’ve seen in P2E, and this tends to detract from the experience quite a lot.
Darian [DOUBLE TOP]
The incredible cool determinant of the project is that you are working for the community. So next question:
Why do you think $PERC token is necessary for your project? What is the main role of $PERC in your project? What are the benefits of holding $PERC in long-term?
Mitch [Perion]
Perion is a DAO, without a governance token a DAO cannot be managed!
Subsequently our token forms the backbone of how we distribute the earnings Perion DAO generates via the GameDAO, allows us to form collaborative partnerships with games for revenue distribution and allows us to reward our playerbase for high achievement
Our whitepaper is a great source of reference for PERC usage and the entire ‘Organisation overview’ section details useful information for understanding it’s value and uses:
Darian [DOUBLE TOP]
You wrote in a white paper that quality comes first for you.
How do you plan to reach the highest?
Mitch [Perion]
Our entire organizational focus is around effective decision making, we strive to be back the best players and gives them the tools they need to succeed.
We believe we have the skills and the team to get ahead, and continue to stay ahead of the competition and maximise the value returned from every dollar invested.
Darian [DOUBLE TOP]
Not less interesting question:
Why did you decide to split DAO into two parts: CoreDAO and GameDAO?
Mitch [Perion]
This model is quite unique to Perion. The CoreDAO is the revenue generation arm of Perion that makes money through play to earn, VC activity etc. The GameDAO is our revenue distribution arm.
We will create our own gamified reward mechanisms to distribute the funds Perion makes. Our whitepaper contains further details:
https://perion.gitbook.io/perion/organisation-overview/dao-structure
Darian [DOUBLE TOP]
Also, an interesting question for the participants:
How does a player join Perion?
Mitch [Perion]
We have strict criteria to join Perion. Most of our players are ranked in the top 1% or higher of games such as League of Legends, Dota2 etc. It was very important for us to take the best gamers in the world. It’s how we keep ahead of the competition and keep Perion winning.
Darian [DOUBLE TOP]
You wrote that most of the players come from developing countries, which countries are these?
Mitch [Perion]
A lot of Perion gamers come from South East Asia: Philippines, Indonesia etc. For people there the money they can make in play to earn can help a lot in paying for things like groceries, university etc. This was especially important throughout the Covid-19 pandemic.
NFT games offer a unique opportunity for us to provide people with work over the internet with nothing but a phone and a data connection, we think this model will be effective in bringing some parts of the world away from poverty
Darian [DOUBLE TOP]
Finally, I would like to ask a question:
Could you give some advice on how to get started in order to become a part of Perion?
Mitch [Perion]
We have an IDO coming up, January 21st. You can check out the website for details and join the discord to sign up for the whitelist.
We have a Russian language channel in discord for anyone who wants to join the conversation.
You can also follow our twitter for regular updates:
Darian [DOUBLE TOP]
Very interesting answers at all, we appreciate your time being here!
Thank You, Mitch, very much for such an informative AMA session, I think it will be useful for many to learn about this project and read in more detail!
We will wait for you again!
Mitch [Perion]
No problem!
It was great to be here and hope to see you all in future!
Darian [DOUBLE TOP]
Friends!
Kind reminder that you can get familiar with Perion project using below links:
Twitter: https://twitter.com/PerionDAO
Discord: https://discord.com/invite/perion
Website: https://perion.gg/
DOUBLE TOP web resources links:
Website: https://doubletop.io/
Twitter: https://twitter.com/doubletop_io
Telegram: https://t.me/doubletop
Youtube: https://www.youtube.com/c/DOUBLETOP_IO
