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Anyone hoping to stay ahead of the curve must grasp the major innovations and trends driving the GameFi industry, which is evolving at a rapid pace. We are delighted to have a conversation with GensoKishi Online and Genso Meta CEO Maxi Kuan today. Kuan is going to talk about Genso Meta, also called GensoKishi or GENSO, which is a groundbreaking Web3 project that is based on the 15-year-old Japanese role-playing game Elemental Knights.
The main characteristics and objectives of GensoKishi Online, the most recent developments in the GameFi sector, the advantages of switching to a multi-chain ecosystem and Genso Meta's preparations for these shifts will all be covered by Kuan in this interview, along with the platform's UGC2EARN model and its effect on player interaction. We will also examine the recent implementation of MV Chain with Arbitrum Orbit and how it affects the gaming experience.
U.Today: Could you tell our readers about Genso Meta and what makes it unique?
Maxi Kuan: GensoMeta, a.k.a GensoKishi, or GENSO, is a game metaverse Web3 project based on a 15-years-old Japanese MMORPG from the original title “Elemental Knights.” We turned it into a Web3 game and upgraded it to a metaverse world. In GensoMeta, you can start without holding any NFTs, which means you start the adventure for free, even without a Web3 wallet — just use your social ID like X or Google, then you are in.
We combine elements of the metaverse and GameFi, creating a unique experience. It allows users to explore, create and interact in a Japanese KAWAII 3D environment while earning cryptocurrency or NFT rewards. Unlike other GameFi projects, we have a team that has been working on this game for over 20 years — a very experienced game developer team. We have most of our users in Japan, SEA and Chinese-speaking countries, which are the center of Web3 GameFi culture.
Also, here are some numbers we have made so far for your reference:
Project launched over 550 days.
Community number: over 342K people.
Connected unique wallets: 66K.
Transactions made: over 2.9 million.
Earned amount by players: over $4.2 million.
MarketPlace trading volume: over $12.6 million.
U.Today: What are some of the key features and goals of GensoKishi Online?
Maxi Kuan: GensoKishi Online offers a blend of MMORPG elements with blockchain technology and creativity. Key features include:
- UGC function (user-generated content): Users can create and customize their own NFT items into the metaverse/game and put on their avatars, or trade at the marketplace (UGC2EARN model: So far, we have had more than 3.4K original NFT creations and 127+ creators).
- NFT integration: In-game items can be minted (exported) as NFTs, providing true ownership and liquidity.
- Play-to-earn model: Players earn cryptocurrency through gameplay and trading.
- 3D metaverse: A Japanese style 3D world for exploration and interaction both on-chain/off-chain.
- DeFi integration: Robust economic system leveraging decentralized finance. And we will build more on the upcoming MV Chain, explained later.
The goals are to create an easy-to-go user/community-driven economy and a dynamic metaverse where creativity and community buildings are rewarded. By building on blockchain and with NFTs, we could really make it come true.
U.Today: What are the biggest trends you see in the GameFi industry, and how is GensoKishi Online preparing for them?
Maxi Kuan: The biggest trends in the GameFi industry include the integration of new things such as DePin, a balanced play-to-earn economics model, integration of NFTs and the development of a decentralized government system.
GensoKishi Online is preparing for these trends by collaborating with DePin project partners, offering a play-to-earn system we have been running for over 1.5 years, incorporating NFT items and creating a 3D metaverse that combines gaming with DeFi. This positions GensoKishi Online to capitalize on the growing demand for immersive and economically rewarding gaming experiences.
U.Today: You have recently announced the implementation of MV Chain with Arbitrum Orbit for Genso Meta. Can you explain how it will make the gaming experience better for your players?
Maxi Kuan: The implementation of MV Chain (Layer 3) with Arbitrum Orbit for Genso Meta will enhance the gaming experience by providing faster transaction speeds, lower fees (MV will be the gas token) and improved scalability. This ensures smoother gameplay and a more seamless user experience, especially during high-traffic periods. The integration also enhances security and decentralization, with a possibility of our original SSO wallet and making the overall ecosystem more robust and reliable for players. Moreover, with our native chain, we could have more dApps built for integration with Genso Meta for a better and bigger ecosystem.
U.Today: What are the benefits of moving to a multi-chain ecosystem, and how will it affect players’ experience?
Maxi Kuan: Moving to a multi-chain ecosystem offers several benefits, including enhanced scalability and improved transaction speeds. For players, this means a more stable and efficient gaming environment, with reduced latency and lower transaction fees. Additionally, it allows our native token MV to be used as the gas token on the new MV chain. By doing this, we could make greater interoperability between different blockchain networks, expanding the possibilities for in-game assets and interactions, and also reaching out to other ecosystem users as newcomers. This flexibility can lead to more innovative features like new dApps mentioned above and a richer overall gaming experience.
U.Today: With $4 million earned by users, how do you plan to keep these opportunities growing for players?
Maxi Kuan: To keep growing opportunities for players and continue building from what users had made their earnings from the “play-to-earn” model, GensoKishi Online plans to expand its economics ecosystem by introducing more in-game events, a DePin campaign and Web3 activities that are based on the new MV chain. We will make more on-chain to off-chain integrations via MV Chain, which is also the goal of the GENSO project.
Additionally, the platform aims to enhance its NFT marketplace, allowing for more diverse and valuable items to be created and traded. Collaborations with other blockchain projects and integrating new DeFi features will also contribute to sustaining and increasing earning opportunities for players.
U.Today: How has the UGC2EARN model changed the way players interact with Genso Meta, and what’s next for this feature?
Maxi Kuan: The UGC2EARN (user-generated content to earn) model in Genso Meta has revolutionized player interaction by empowering them to create, trade and monetize their own content, such as items, avatars and worlds. This has fostered a more engaged and creative community, driving both player retention and economic activity within the game. With a milestone, we have reached more than 3K creations and a trading amount over $14,384.89. The next steps for this feature include expanding tools for more user-friendly content creation, enhancing the marketplace for user-generated assets and more Web3 integration with incentives and rewards for creators to encourage ongoing participation and innovation.
U.Today: How has the GameFi landscape changed in the last two years, and what are your thoughts on these changes?
Maxi Kuan: The GameFi landscape has seen significant changes in the last two years, characterized by rapid change of play-to-earn models, widespread adoption of NFTs and the actual building of decentralized autonomous organizations (DAOs) within games. These developments have transformed how players engage with games, turning gaming into a viable source of income and fostering stronger community-driven economies. The integration of DeFi elements has further blurred the lines between gaming and finance, creating more immersive and economically rewarding experiences for players.
From my thoughts, I think the P2E model will be upgraded to C2E (contribute-to-earn), which means not only to play but join the community, build projects together and activate the transactions. To avoid the Ponzi scheme that I believe all legit projects are facing, we need to combine the basic model into the DAO model. With more new trends like DePin and RAW, an absolutely new landscape will be coming soon.
U.Today: What is your view on the future of the GameFi industry for the next few years?
Maxi Kuan: The future of the GameFi industry looks promising, it is the best and simplest way to bring newcomers to the Web3 industry, with several trends expected to shape its trajectory:
- Enhanced play-to-earn models: More sophisticated and rewarding systems will emerge, attracting a broader audience. Like I mentioned above, it might change to C2E or a more decentralized style.
- Increased NFT utilization: NFTs will become more integrated into games, offering true ownership and multi functions such as staking-to-earn or more with the new ERC standards.
- Interoperable metaverses: Greater connectivity between different projects will allow for seamless asset transfer and interaction. A multi metaverse world is coming.
- Regulatory developments: As the industry grows, clearer regulations will provide more stability and trust. We are still at a very early stage.
- Technological advancements: Improvements in blockchain technology will lead to faster, more secure and more scalable gaming experiences. At the same time, VR/AR/MR devices like Apple’s Vision Pro and other coming new gears will absolutely enhance the integration and experience. It might take years, but I think it is faster than we think, as we are in an AI generation already.
U.Today: What would you recommend for those who are just beginning their journey in the GameFi industry?
Maxi Kuan: For those beginning their journey in the GameFi industry, here are some recommendations:
- Educate yourself: Learn the basics of blockchain, NFTs and DeFi.
- Start small: Begin with user-friendly GameFi platforms (e.g., Genso Meta) to understand gameplay and economics mechanisms.
- Stay updated: Follow industry news, join communities and participate in forums to keep up with trends and developments.
- DYOR (do your own research): Be cautious with investments if needed and understand the risks involved. Always check the project status and members if possible.
- Engage and experiment: Participate in different games, create content and explore earning opportunities.
U.Today: Maxi, we appreciate you taking the time to talk with us. We gained a great deal of important knowledge about Genso Meta and the larger GameFi industry from this insightful and wonderful talk. We value your opinion and are excited to watch how Genso Meta develops further and takes the lead in this fascinating industry.
Arman Shirinyan
Alex Dovbnya
