Battle Infinity project lead Suresh Joshi spoke to B2C on how he started his own crypto IBAT to add something new to play to earn gaming.
Co-founder Suresh Joshi is a Business Management graduate of Delhi University with 17 years experience in the digital media and marketing space. He put together a team of cryptocurrency developers to start a crypto project with a new twist – fantasy sports.
Find the rest of the team at presale.battleinfinity.io where currently the IBAT crypto presale is just over 10 days into its 90 day presale and almost 20% sold out with over $750,000 raised.
Interview with Suresh Joshi
What was the first inspiration to start your own crypto project?
‘The incredible rise of Axie Infinity impressed me and got me thinking on a number of levels.
Making a living from gaming isn’t a new idea. Just look at how esports have grown, the professional teams formed around video games, and the thousands of fans who come to stadiums to watch tournaments where teams compete head-to-head.
But play-to-earn (P2E) powered by blockchain was taking things to a whole new level. Now you didn’t have to be an elite esports player to make a living – it was open to all.
Facebook changed its name to Meta to highlight the potential of what is now called the metaverse. In this space, people can have avatars that represent them in virtual worlds, allowing them to interact in real-time and take part in many activities they do in real life. They can even try things they never thought possible, like flying a fighter jet.
So what problems are you solving, what is Battle Infinity doing differently, what’s the USP?‘Well there are problems with P2E. First off, they started to become more expensive to get started as players because speculators drove up the price of in-game currencies. So we saw the scholars phenomenon emerge as a way around that, where NFTs are rented out.
Then there’s the problem that the games were just plain boring. It gets tedious doing repetitive tasks that involve zero skill. With Battle Infinity we have chosen to start with fantasy sports because it overcomes the boring problem.
We believe those who already play fantasy sports will be attracted to our platform, not just because it matches what the legacy companies do, but because it adds value in a way that they don’t.’
What is the added value of Battle Infinity and the IBAT crypto token?
‘Our P2E economy is not dependent on speculation to generate pooled funds to pay out earnings. Instead, we take a multi-faceted approach to revenue creation.
‘A combination of transaction fees on token trading and marketplace in-game asset trading, plus NFT pass sales to enter the games in the first place, will all place Battle Infinity on a much firmer footing than the likes of Axie Infinity.
Farming and breeding can get very monotonous, so we wanted to centre our game and its economy around skill. There are two vectors for game developers to plough to make money – through harnessing social value or utility value, or a bit of both.
Those taking the social route sell players skins and weapons that give bragging rights to the owner, but they don’t make the game easier. Other developers might go for selling players ways to finish the game faster or even to make it easier – the utility approach.
With the utility of NFTs, however, and by moving away from what I call the boringdom approach to P2E, we think we have a crypto games format that is aligned with what gamers want without compromising on the skill and jeopardy that makes gaming fun.
Our approach will greatly enhance the value differential of NFT gaming and this in turn will be magnified by the metaverse.’
How do you plan to implement your metaverse vision?
‘The Battle Arena is where users can buy virtual land, interact with other users, conduct business, such as advertising their team or game – we will be onboarding third party games – on our virtual billboards, or putting on events such as concerts or, of course, sports matches.
We are using the Unreal Engine SDK to build our virtual world and the augmented reality viewer will be coming in Phase 4 – we are currently in Phase 3.’
You are taking aim in the first instance at the Indian Premier League market that is currently dominated by India’s Dream 11 and Mobile Premier League. Is that too ambitious?
‘Definitely not. Those two companies you mention have 185 million users between them. We only need to win over a fraction of that audience to be successful. We think we can do a lot better than that. P2E done right will shake this market to its core, and not just in India but around the world.
Cricket is only the start for Battle Infinity and our IBAT Premier League model. Football, basketball and more will follow. It is a great feeling to know that there are thousands of others who agree that we have an exciting idea, and are willing to back our vision with their own hard-earned cash.
Before the end of the second week of our presale we expect to have achieved our softcap target [now hit], so will have raised the minimum necessary to build out the foundations of our project.
But we haven’t even begun proper marketing yet so we expect the presale pace to pick up considerably as we close in on our hard cap of 16,500 BNB. As the word gets out and the chance of 10x or even 100x gains feeds the FOMO. Our early investors and supporters will not be disappointed.’
According to a study linked in Business Wire the fantasy sports global market valuation will grow to approximately $40 billion by 2025 at a CAGR of 14.7%. A crossover between fantasy sports and blockchain gaming is a first for the crypto industry.
Battle Infinity passed its soft cap of 2000 BNB this week and is closing in on 3000 BNB raised with 79 days remaining. An IBAT airdrop giveaway is also running to celebrate the milestones hit so far.
Join the official Telegram group for more updates and details on how to invest in IBAT – remember admins will never DM you first. A one-way TG channel for announcements has also been set up.
Or find the roadmap and whitepaper at battleinfinity.io and tutorials on how to set up a MetaMask or Trust Wallet with Binance Coin.
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