Exclusive Interview: Virtual Game Studio – What To Expect In The Current Bear Market

We at CoinCu News had the opportunity to speak with Virtual Game Studio, one of the most promising companies in the technology sector, about the current crypto bear market and what the company can do to thrive and develop in such a challenging time.

Virtual Game Studio (VGS) is a company with extensive experience in online entertainment and information technology. The business was founded in 2018 with the help of three co-founders: Mr. Nguyen Duong Hong Giang, Mr. Nhat Tuan, and Mr. Tran Xuan Duong, who all have deep expertise in a range of industries, including IT, game development and publishing, finance, and business management.

Virtual Game Studio, a strong technology company, aspires to make advanced software development affordable and suitable for individuals and organizations to transform the world through digital experiences.

Recently, CoinCu News had the chance to chat with Mr. Nguyen Duong Hong Giang, CEO of Virtual Game Studio, to learn more about the present cryptocurrency market and the company’s vision, ambitions, and plans during this challenging period.

Part 1: About Your Opinion In The Recent Market

CoinCu News: About the current market condition, do you think what signal might dispel pessimism in the market following a string of disasters?*

VGS: In essence, we see that the market has been on a pessimistic level lately, especially in the last days of June and early July, which is clearly shown by the Fear and Greed Index at 6 and 11. But along with it is a huge opportunity for those who know how to seize it. Looking back at the past, we can see that almost every big bull run begins with days of pessimism and loss of confidence in the market like now.

If we think calmly, we can see that BTC is undervalued. To mine one BTC, it takes miners 23-25K, most of the big funds are buying BTC in the 30-34K range, and on-chain indicators are saying BTC is at a very cheap level. . As Warren Buffett once said, “The best time to invest is when you realize the assets are below their true value.”

Coincu News: In the global economic and technological transformation, how far do you believe the crypto industry will progress?*

VGS: It would be a blunder to compare cryptocurrencies with the internet. But there is a statistic that shows that the number of people owning BTC – the largest cryptocurrency in the world is equal to the number of internet users in 1998. It proves that cryptocurrencies are going the way of popularity. Access like the internet. Isn’t it that with digital technology, people always want to eliminate the middle steps and move towards a flat world?

Coincidentally, cryptocurrency does that, and it makes transferring money easier. Look at the dizzying change in investment funds from 2017 to now or even banks and countries that treat crypto as an asset, and you will understand it has flourished. Cryptocurrency has changed the entire game industry, and it makes publishers forced to share profits with participants in the form of playing games to make money instead of just depositing money like traditional games. It forced a series of giants like GameStop and Sony… to invest heavily in Gamefi if they didn’t want to be left behind. Didn’t Facebook change its name to Meta in pursuit of the metaverse? Or a series of big guys are chasing web3 like crazy. That’s enough to see how strong the cryptocurrency will grow.

Part 2: About Your Business In The Recent Market

CoinCu News: What is the outstanding feature of your project compared to others?*

VGS:

 – Visual:

• One standout feature of the Galaxy Survivor NFT is the well-crafted, smooth 3D designs that deliver an unreal viewing experience for players. Galaxy Survivor employs different cinematic angles, giving players an unprecedented visual experience.
• Galaxy Survivor has cinematic camera angles that give players an experience like watching a blockbuster movie, which is different from a single-angle view like other games. This feature gives players an ultimate experience with visuals when spending time with Galaxy Survivor.
• Augmented Reality: [AR] technology enhances the game visuals, allowing players to interact with game characters and artifacts, indirectly increasing NFT value. This makes NFT have more collectible value as players can interact with 3D Warships right on their devices vividly and lively by taking pictures or recording videos and sharing with friends.

– NFT’s features: There are wide ranges of NFTs to equip the ship. Warships are durable, and you will have three times to repair them. The distinctive nature of the Galaxy Survivor NFT allows gamers to customize NFT holdings conveniently. By personally customizing the NFTs, users will create unique NFTs that have collectible value and carry their featured characteristics compared to original NFTs.

– The solution to avoid NFT devaluation: Rental Mechanism; Voting Mechanism; NFT Recycle System; NFT Quantity Limit

In the Galaxy Survivor Universe, all NFTs such as Warship, Wargears, and Legacy Gems will have fixed durability stats which will be inclined when they are being used. Along with that, each NFT also has a maximum number of times to be repaired (Warships, Wargears) or recharged (Legacy Gems). Those resources are used up, and NFTs will be converted into “broken NFTs,” which only have collectible value and can no longer be used in the game. Therefore, to take advantage of broken NFTs, players can use the NFT Recycle System.

• NFT Recycle system: If, after three times of repair limit, the ship is damaged, it will be recycled and exchanged for a new ship of equal or greater rarity. The ship, after being recycled, still has the same durability as the original. The game also sells tickets (NFT vouchers) to buy NFT warships.
• Crafting: Galaxy Survival has a special feature to avoid potential difficulties and to remain a stable game economy. Materials can be self-crafted. Excess resources are controlled over a limited number of repairs, which the user can rotate to regenerate new ships. Warship debris can still be collected and regenerated. Crystals can be converted into game tokens.

CoinCu News: What are the challenges in your project’s development up to now?*

VGS: We have difficulty implementing marketing because of the downtrend market; not only the Game NFT field, the entire project, funds, and investors are negatively affected and no longer excited. In addition, there are financial difficulties when implementing the project. Making a project from scratch and launching takes a lot of time and money. Until the official INO and game launch, there is still a lot to pay.

CoinCu News: What is the project’s vision in the enormous blockchain space?

VGS: We at Virtual Game Studio aim to bring the best product, marking a big step forward when entering the blockchain market. This is a big and difficult market; getting love from users and selling many NFTs is our success. Galaxy Survivor aims to become the most powerful and well-established NFT game in the market.

CoinCu News: Do you think the crypto winter will come soon? If yes, what will your project do?

VGS: I have no doubts about the crypto winter at the moment; most investors fear it. But if you look at it another way, this is a good time for builders to perfect the product and bring a new experience to the user. AXS spent three years crypto winter to get a breakthrough product, or ETH took four years to get where it is now is a clear example. With the background as a traditional studio, having enough perseverance and going to the end is our strong point.

CoinCu News: In your opinion, what should crypto investors and project builders do in the current gloomy market situation?

VGS: It is understandable for investors to become discouraged. However, depression probably won’t get us through this difficult time. So what should investors do in this gloomy market?

Have a job to support yourself

If you have fallen into a situation where you have not saved any reserves, and the market has fallen into a downtrend, then Work to earn, go to work and earn money. As long as you don’t break the law, you can make money with whatever works for you.

For those of you who have a job to do right now, just keep doing it well and ignore the market. I find that constantly opening the app to check but only seeing red covers or a negative account will make you more pressured. For those who have free time, use it to find a job to earn an income!

Cultivate knowledge and skills about crypto

Learning is a necessary process at any time, but I think the best opportunity to learn and accumulate knowledge in the crypto market is when the market enters a downtrend. Because that’s when the coin drops or the market freezes, trading is really difficult and can involve a lot of risk of loss; instead of trading, I think we should spend our free time accumulating more useful knowledge.

In the context of the gloomy market, you should take the time to spend more time for yourself. This is the right time to nurture mental and physical health and practice hard sports. At the same time, you can spend more time with family, and relatives, go out to meet friends, and expand your relationships. Instead of only worrying about money issues, cultivate your knowledge and nurture your soul, prepare a solid state of mind so that when the time of uptrend comes, focus on your investment plan.

Moreover, the downtrend is also a time for us to review our investment strategies. Evaluate whether the steps in your investment journey have really worked and if there is anything important missing. In my opinion, these will help you prepare better mentally for the upcoming uptrend season.

During the downtrend period, maybe it is also an opportunity for those who are really passionate about blockchain and investment. Because this is the time when many builders become bored with the market and leave the company, therefore, projects will have to recruit more personnel to fill the missing vacancies. In particular, blockchain companies include a variety of positions and jobs, from IT engineers (dev) to community managers, social media, researchers, writers, content creators, and marketers,…

CoinCu News: What role will your project play in the upcoming development of the cryptocurrency market?

VGS: We will act as a pioneer, heralding the return of the market and releasing the best NFT games.

We at CoinCu News would like to express our sincere gratitude to the Virtual Game Studio’s team for taking the time to speak with us and for providing their valuable insights on the current crypto market. It was such a pleasure to learn more about the company and its objectives.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Patrick

CoinCu News