Technology

CEO RUN Together: “We are not a copy of StepN”


Recently, “run to make money” or “move to earn” is emerging as a new trend of crypto investors. This is a phrase used to talk about applications that have a combination of GameFi and SocialFi elements.

In which, GameFi is the term used to refer to video game projects with financial elements. With SocialFi, it is an economic model that reconciles finance and social communication activities.

Different from “play to earn” – “playing games for money”, people participating in “move to earn” applications need to perform physical activities (running, jumping, playing sports, …) to receive about bonus tokens. They can earn income by exchanging these bonus tokens for cryptocurrencies.

The trend of “running for money” is becoming a recent phenomenon with quite a few people participating.

At the present time, the trend of “move to earn” has become a phenomenon that stirs up the Blockchain world. According to Coinmarketcap statistics, although there are only more than 10 active “move to earn” projects, these applications have a total market capitalization of up to 2.3 billion USD, with a total transaction value in 24 hours. over 2.5 billion USD.

Leading the “move to earn” trend is StepN – an application developed by Satoshi Lab. Even in Vietnam, startups that develop “move to earn” applications have also begun to appear ready to compete for the market with foreign competitors.

Recently, VietNamNet had the opportunity to meet Mr. Nguyen Nhat Khanh – CEO of RUN Together to discuss the “move to earn” trend and opportunities of Vietnamese startups in this new technology trend.

RUN Together is currently one of the few Vietnamese startups working in the field of “move to earn”. This project has also made a strong impression even though it has just launched in the international market.

Reporter: Many people still don’t know about RUN Together, first, can you share some basic information about RUN Together?

Nguyen Nhat Khanh: RUN Together is a “move to earn” project built on the Binance Smart Chain platform. When installing RUN Together, through GPS signal, combined with sensor data to measure the number of steps and data from the health monitoring app, the application will record the results and return the score as the amount of reward tokens. corresponding.

My studio currently has more than 150 members. They are all experienced in the field of Blockchain as well as application development. Key members include Mr. Chung Le – Product Manager with many years of application programming experience and Mr. Le Khai – Marketing Director, who is behind the development of AFGG – a very GameFi community. big.

Nguyen Nhat Khanh – CEO of RUN Together used to play the role of Community Development Manager Garena Thailand, Indonesia, Vietnam and participated in many famous games such as League of Legends (LOL), Heroes of Newerth (HON), Legendary Campaign.

Reporter: Up to now, what results have RUN Together achieved?

Nguyen Nhat Khanh: After the IDO (initial token distribution), the number of users and followers of the project has increased by more than 400% compared to before. Coinmarketcap also recorded a huge trading volume (up to 200 million USD) of RUN Together in just the first 24 hours.

RUN Together is developed by MoonLab, has now built a cooperative relationship with investment funds, technology companies, major token distribution platforms such as ONUS, FAM Central, BSCSstation, JadeLabs, FundGo… and is currently focus on perfecting the product before launching on May 7th.

Reporter: Some comments say that RUN Together is just a clone of StepN, the current number 1 startup in the “move to earn” segment. Why did you do this project?

What is the difference between RUN Together and other famous startups about “move to earn” like StepN, DotMoovs…?

Nguyen Nhat Khanh: Our project development team has recognized the potential of the “move to earn” market for a long time, and soon took steps to research and set up the original core application.

The fact that StepN was born before and is now emerging as a market leader is quite unfortunate. However, I believe that opportunities will still exist for everyone. RUN Together can compete fairly with StepN and other projects like what Axie Infinity has done.

The difference between Vietnam’s “move to earn” startup and the StepN app is the appearance of many training modes, along with community activities.

The difference of RUN Together compared to other “move to earn” projects is the features such as team running, competition, training mode and community fitness activities,…

This will add sociality and help connect users who love running with each other. That is also the community value that the project is aiming for.

Besides, like other “move to earn” applications, the positive point that users receive is the improvement in health and quality of life when participating.

Reporter: Many GameFi projects have made mistakes about tokenomics (economic models), resulting in their short existence. How will RUN Together deal with the game’s token inflation?

Nguyen Nhat Khanh: The RUN Together development team had plans from the start to deal with inflation.

Accordingly, NFT items will only be sold to a limited number of participants. The project’s RUN token will also have many uses through paying for factors that support users during migration.

Not only does this keep the token from inflation, but it also allows NFT items to retain their value for a long time.

The programming team is in the process of perfecting the “move to earn” Make in Vietnam application.

Reporter: What are the similarities and differences between the two trends “move to earn” and “play to earn”. After that, will there be another “to earn” trend?

Nguyen Nhat Khanh: Basically, both “move to earn” and “play to earn” help users generate profits through the exchange, purchase and sale of tokens, NFT items in the game.

However, if a “play to earn” player can hang up a whole machine to “plow”, with “move to earn”, value creation comes only through actual physical activities. This makes the player’s income not completely dependent on capital and equipment, but also from the participants’ physical ability and perseverance and will.

With the current speed of change and development of Blockchain, in the future there are not only “move to earn” and “play to earn” but there may be more “to earn” forms. However, I believe the Vietnamese will be a significant influence on those technology trends no matter what it is.

Reporter: Many people think that “move to earn” is just a temporary trend, in your opinion is this true? Can “move to earn” projects overcome that label and become a long-term product?

Nguyen Nhat Khanh: I think “move to earn” is not a short-term trend but it is a long-term trend. To be a long-term product, “move to earn” projects must continuously engage the community by creating product values ​​that do not fade over time. Only then, can “move to earn” projects be able to get rid of the situation of “soon to bloom”.

According to Nguyen Nhat Khanh, RUN Together will soon launch on May 7.

Above all, in this game, startups need to direct users to a healthy lifestyle and maintain it as a regular habit. This is the core value of “move to earn” projects instead of just thinking about making a profit during the move.

Reporter: If you have gone later, what will be the opportunities for Vietnamese “move to earn” startups when they have to compete with StepN and foreign giants?

Nguyen Nhat Khanh: In my view, “move to earn” will go beyond a short-term trend. Everything is just the beginning. The fact is that in the field of technology, Blockchain is the one with the most rapid change. The opportunity is therefore still available to anyone, as long as we dare to take it.

The ability to think logically, mathematically and diligently are the advantages of Vietnamese people. Those are the factors that help Vietnamese people stand at the top of the world in the GameFi segment. With the experience gained in building and maintaining economic models in the previous “play to earn” segment, Vietnamese startups are fully capable of going behind in the upcoming “move to earn” race. .

Reporter: Thank you for this discussion.

Trong Dat

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