@Encentive x @thegemsgg, GEMSCrossoverAMA

Encentive x GEMS AMA Sections

Section 1: Introduction and Questions (7 Question)

Encentive x GEMS AMA Section 1

Wilson: Hello #GEMSters welcome to another #GEMSCrossoverAMA. I am Wilson — GEMS Community Manager. I’m so excited to be hosting today’s AMA along with David Rutkovsky — Co-Founder of Encentive. Welcome to GEMS!

Let’s start, could David please introduce the #GEMSter a little bit about yourself and the idea behind your project?

David: My name is David Rutkovsky, and I’m a co-founder of the Encentive Web3 Business Platform. I am a PhD graduate from The University of Gdansk (Poland) with over 10 years of professional experience, I have been involved in the blockchain industry since its early days (2013), as well as in the AI/IoT sector since 2014. I am also former CTO at Fragma Metaverse as well as a Senior Investment Manager at Terminus Technologies, a Senior Business Consultant and a Business Advisor at Blockchain Global.

Encentive is a business development platform which helps companies run their web3 businesses. We provide our partners with marketing and development tools covering a variety of Web3 features. We offer one-step solutions for businesses which are available using one unified interface.

At the current stage of Web3, as opposed to the legacy business models, the services offered by Web3 applications are very fragmented. What do I mean by that?

Most of the current web3 applications can’t exist without 3rd party service providers such as Uniswap and SushiSwap used for swaps and liquidity mining, OpenSea for trading NFTs, or CEXes for onboarding purposes.

Let me explain to you how Encentive works using the Shopify analogy:

Shopify is an all-in-one e-commerce platform, basically a cloud-based SaaS platform allowing businesses to easily set up an online store. As simple as it is.

What is the business model of Shopify? Shopify operates based on a monthly subscription model, which gives the user an access to an admin panel, where you can enter your store info, add products and process orders. The platform is very straightforward, it’s easy to use and consists of building blocks and editing tools. The interface can be also customized.

Encentive works in a very similar fashion. Our business platform operates in SaaS business model just like Shopify does. 3rd party projects can use the admin panel to generate their own products such as DEXs, staking pools, NFT marketplaces, they can also generate bundled transactions using the platform. Our system also provides direct on-ramp/off-ramp payment channels to make the onboarding process easier. We are the an all-in-one solution provider. A Shopify of Web3.

Wilson: Could you tell us more about your value proposition and the features your project provides?

David: Encentive platform offers its users an all-in-one solution. We provide one simplified interface for deployment of web3 products. By using Encentive, users don’t need to go to any other website or a 3rd party protocol. Our philosophy is to simplify the user experience as much as possible and make web3 services accessible to everyone.

Encentive provides 5 major features:

  1. Our platform supports multi-chain, which makes it much easier for users from different ecosystems to interact with a protocol of their choice. This translates to easier migration of users from different ecosystems and bringing additional TVL. At the moment of speaking, the platform has been integrated with more than 30+ public chains.

Wilson: Could you share your opinion about the common problems Web3 and its users face these days?

David: The total scale of the Web3 industry is currently very limited. We’re talking about millions of users currently. Taking Metamask as an example, with around 30 million users, the company still pales in comparison to Web2 projects and technologies. We want to think in terms of billions, not millions. In order to achieve that, the industry needs to become more scalable. If Web3 is going to be the new internet, then it must be able to scale to billions of users.

Having said all that, it cannot be denied that the growth of Web3 has been rapid, even staggering. We now have access to thousands of apps offering useful products and services. The issue, though, is that these apps are deployed across hundreds of independent and sometimes barely interoperable blockchains. These same apps often have different user experiences, different user interfaces. It takes being a crypto native to navigate them successfully. Users need to get familiar with each ecosystem, join the community, keep up to date with project updates, announcements, and issues (such as hacks, maintenance, and system upgrades).

It’s like watching our parent’s generation navigate modern tools and technology. Users need to understand gas fees, setting up a wallet, connecting to Web3 applications, etc.

We aim at making Web3 more accessible to everyone, and this is the direction we have chosen to follow.

Wilson: All functions provided by Encentive focus on Web 3.0. How does the Encentive team view the development of Web 3.0? What development stage do you think we are now in?

David: We all consider Web3 to be another milestone and a necessary step in the evolution of modern Web-based services. People should be granted access to web services without the infringement of their privacy rights and becoming victims of oftentimes questionable practices of big corporations offering products all of us can no longer live without. These days though countless people read the emails that we send thinking they are private, not to mention trading our web engagement and traffic data for profit which is later fed to advanced AI/Big Data algorithms for the sake of target advertising.

We strongly believe that Web3 is a new paradigm which will set new standards for further development of products in the space. The remaining problem is still the marginal adoption and detachment of Web3 services from retail adoption.

I think these days more and more people are starting to understand what Web3 is as opposed to Web2, and the most recent popular trends such as Metaverse, NFTs, DAOs and GamiFi seem to confirm this thesis. I can easily see more and more projects following the principles of Web3 being developed in the foreseeable future, but the differentiating factor between the solution providers will be the overall efficiency and pace at which certain milestones can be achieved.

At the same time, we don’t want to partake in the tribalism which is so common in the cryptocurrency space these days, therefore we try to come up with blockchain-agnostic solutions which will hopefully prove useful to a larger audience covering different types of projects and communities.

After all, Web3 is a bigger concept which simply cannot be limited to one particular technology provider, let alone the protocol.

Wilson: Do you guys have your own token or plan to have one?

David: Right now we are still at the stage of designing the Tokenomics behind the protocol, and we hope to finish the process by the end of Q3 this year. Our major goal and focus is designing the token in a way that would provide actual utility to the users and a stable revenue stream to the entire ecosystem.

Wilson: Who are your major clients? What kind of protocols find your solutions useful?

David: Our clients consist mostly of 3rd DeFi protocols, which we equip with cutting-edge DeFi features provided by Encentive such as the deployment of DEXs, staking pools, airdrops etc. We also work closely with both NFT and GameFi projects by providing them with their own decentralized NFT marketplaces. Deployment of this kind of solution helps the protocols to additionally profit from their own tools as opposed to enriching existing 3rd party service providers and keep their money/token circulation within their own, closed-loop ecosystem. We also get contacted by many protocols built on top of less popular architecture such as L2 (Arbitrium, Optimism), which would like to tap into users from other ecosystems. They integrate with our platform in the form of plug-ins, where users from other blockchains can easily access them.

Wilson: Great answers, lastly can you tell us a bit more about your future development plans?

Absolutely! All you need to know can be found below:

Wilson: Great AMA David! It was delightful to have you here today

Encentive offering OG NFT as gifts for GEMSter attending today’s AMA , please click on this link and finish the task http://galaxy.eco/encentive/

David: Thank you Wilson for inviting me to the GEMS Community.

About GEMS

GEMS stands for GameFi, Esports, Metaverse and SocialFi.

Proudly presenting Esports 3.0, GEMS is an Esports 3.0 Aggregator Platform within a unique O2O (online-to-offline) Ecosystem. Our one-of-a-kind ecosystem is designed to be the ultimate, one-stop GameFi destination, allowing crypto and Esports gamers to learn, connect, and immerse themselves in different metaverses and GameFi worlds via online and offline touchpoints.

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GameFi, E-Sports, Metaverse and SocialFi. GEMS is an Esports NFT social sharing portal and O2O ecosystem.

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GameFi, E-Sports, Metaverse and SocialFi. GEMS is an Esports NFT social sharing portal and O2O ecosystem.