In this Telegram AMA recap, you’ll find insights about the AAG project. In an event hosted by SenHo from MEXC, you will meet Jack Vinijtrongjit ( Co-Founder & CEO ).
Hi everyone! Thanks for having me here today. Let me start from telling you about myself. My background is in enterprise software with a specialty in building scalable software infrastructure and integration. I have worked in 7+ industries and am currently working in the blockchain space, which I’d been closely following for at least five years before co-founding AAG. Blockchain tech is amazing, and I’m continuously amazed at what people come up with.
My role as CEO of AAG is to shape the vision of the company, and gather all the talents we need to be successful. I’m also very technical so I like to get my hands dirty with engineering work.
Our website: https://aag.ventures/
Questions from the community:
Sen Ho Q1. What is AAG? Can you share with us more in detail?
Jack Vinijtrongjit: AAG is a web3 infrastructure company focused on providing software that helps simplify interactions with blockchain applications and the Metaverse. The goal is to make them easier for mainstream users and traditional companies to get involved with.
We provide a secure and easy-to-use crypto wallet, as well as infrastructure software, such as a cross-chain search engine and GameFi SDK for enterprise companies.
Sen Ho Q2. What triggered you to launch AAG?
Jack Vinijtrongjit: AAG started off in the GameFi space and, even today, we are still running one of the largest guilds in the world
AAG stands for Achip and Achair Global. If you’re a poker fan, you may recognize that the term Achip and Achair comes from the story of Jack Straus, who won the 1982 World Series of Poker after having only a $500 chip left. He was able to make a big comeback because he didn’t give up his chair at the table. Hence “a chip and a chair.”
That’s also the story of two of our co-founders during Covid, but they didn’t just make a comeback. We decided that we wanted to help others who were also suffering financially because of Covid. Because of that our strategy was to bring in people who really needed help.
Sen Ho Q3. What are some of the real-world problems/ pain points that AAG aims to solve?
Jack Vinijtrongjit: When we looked at our team of scholars/players, 56% were unemployed and the demographic was from 18 to 75. Some never even had a mobile phone. Most are not tech-savvy.
We ended up here because of how we chose to prioritize who we wanted to help. But at the same time, it helped us understand the broader picture and zone into what we think are the right problems to solve.
With such a wide range of knowledge levels when it came to web3, we knew from the beginning that we had to take a step back and build the foundational pieces starting from the wallet. We are going to make sure that web3 truly provides access, visibility, and equality – but it needs help.
Not everyone is able or comfortable managing the primitive security with seed phrases and private keys. We are bringing institutional grade security to consumers while making sure they have full control of their own assets.
Forget writing down your seed phrase on a piece of paper and make sure no one else can find it. That’s so 2017!
We are also providing solutions for companies that are looking into transforming to web3. You would think things like cross-chain search is a solved problem. What we found is only the very primitive and not-so-useful-type is available.
Sen Ho Q4. What are AAG’s unique selling points as compared to other similar projects in the industry?
Jack Vinijtrongjit: I would say we are on the ground getting dirty, fighting for mainstream adoption.
We take the approach of understanding what our users want instead of forcing them into a box. We focus on safer access and real utilities. We believe that we are now in the second phase of web3, and it’s all about making things simpler while reaping the benefits of web3. Without that, there is no mainstream adoption.
Our team consists of enterprise veterans from various different sectors. We have spent the past year building out a solid foundation that we can build on. That’s why I personally believe that the next few quarters will be very exciting because we will finally get to show the world what we have under the cover.
Sen Ho Q5. What is the role of the $AAG token? Would you tell us more about its tokenomics?
Jack Vinijtrongjit: Here are some of the utilities for the tokens that we can talk about right now. We will share more as we continue to release our products.
1. The GameFi portal will charge a subscription fee to Player and Guild users in the form of $AAG
2. The AAG Wallet will charge fees for asset swaps (fiat-to-crypto, crypto-to-fiat and crypto-to-crypto trades) in $AAG and reduce those fees for people who hold $AAG
3. The search engine will charge $AAG for data access / API calls
4. The GameFi SDK will charge fees for API calls as well as additional fees for allowing the lending and fractional ownership of NFTs.
In terms of total supply, we have 1B tokens, with around 30% in circulation at the moment.
Sen Ho Q6. Are there any exciting news or updates with regards to AAG that you would like to share with the users?
Jack Vinijtrongjit: We recently announced the opening of the waitlist for our MetaOne wallet. By signing up, you get a chance to win up to $5k as well as 3 NFTs.
The link for that is: https://getmeta.one
We also have many exciting announcements coming up in the next few weeks alone. I don’t want to ruin the surprises so please subscribe to our newsletter and wait a bit longer.
Sen Ho Q7. If you were to summarize your project in ONE word, what would it be? Why?
Jack Vinijtrongjit: “Foundational”
As I mentioned earlier, we are tackling the foundational issues that are stopping web3 from going mainstream. And by mainstream, I mean doing something useful outside of DeFi.
Q1: What are your go to market strategy? Or Who do you see as your biggest competitors? (by @avnit123)
Although we have both consumer and enterprise products, we are focusing mainly on the B2B2C side at least for the remainder of 2022. This means that with a single deal, we can potentially get 500k+ users.
For the consumer side, we are using a referral strategy and allow our users to help bring in more users in exchange for a lifetime profit share, which is a familiar model deployed by exchanges such as Binance. Beyond that, we hope that our users enjoy using our products and help us spread the word.
Q2: Although I didn’t find many that were specifically related to crosschain technology, Gamefi SDK faces some respectable competition in the market. Is the resource allocation to this field strong enough to compete, or does AAG have interested parties lined up to display or jumpstart it? Thank you. (By @mvmalacad)
Yes, I think our team is exceptional when it comes to building software for both consumer and enterprise. Our approach is to work with our customers to help them solve their problems rather than creating something first and try to fit them into the artificial box. We also work with many technology partners to fill in the gap and help speed up our product development.
Q3: What is VERRE search engine? How does it work? (By @ShirasMohammed1)
You can think of Verre as EtherScan, but more consumer-focused. We focus not just visibility, but also on how an average person would use it. Have you ever wondered what assets you actually have? For example, there are 200+ EVM-based blockchains out there and 1 single address can be used across all of them. If you were to have to go to each explorer, you may never find out what you actually have because by the time you do a full round, it may have already changed!
We are also planning to provide the same capabilities for developers at a much more affordable price. Verre itself is a very important component of our MetaOne wallet. This is how assets are discovered, how balances are tracked, etc.
Q4: Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ? (By @BrynnGilliam)
We have 6 product launches planned for the rest of 2022. It’s a very exciting time at AAG.
Our products focus mainly on web3 infrastructure, security, and education, but they do cover all the areas you mentioned whether it’s DeFi, GameFi, NFT, Metaverse, or dApps. The next announcement will come later this week.
Q5: What is the plan to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year for your project ? (By @ColeenArthur)
This is one of the areas we have been focusing on for sure.
As you can see, our daily volume is quite good for a relatively new project like ours at 5% of circulating supply.
As we bring on more and more utilities for our token, we expect significant demand increase and we will make sure that there are more ways for our users to acquire them.
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