Jaden Lee, CEO of Monoverse, tells us about the NFT game they’re creating.
Tell us about you, your career, and how you founded Monoverse.
Jaden Lee: I started my career as a researcher at AhnLab, a famous security solution company in Korea. Back then, I was already optimistic about the scalability and marketability of blockchain, and I decided to start a business with the conviction that this market would grow even more in the near future. With this belief, I recruited a game developer and a blockchain developer, and we established Monoverse in May 2019. Since then, through continuous development, the company has become one of the best blockchain companies in Korea.
How does Monoverse innovate?
Jaden Lee: Prior to carrying out a project through blockchain, we first make sure that it does not deviate from the decentralization philosophy of blockchain. We always stand by this philosophy and believe that services or games made under it will bring innovation that has never existed before. Hence, making a difference in the world.
The NFT game we are creating also aims to be decentralized, and we plan to implement the DAO (Decentralized Autonomous Organization) system together to make it concrete. We aim to complete a game that all users can create together by implementing a practically workable DAO rather than a theoretical DAO.
How did the coronavirus pandemic affect your business?
Jaden Lee: Play to Earn games on the blockchain can generate profits while in a situation where finding a job is difficult and making a living is difficult because of the Coronavirus. Due to the incredible popularity of Play to Earn games, our company has received more attention. The Corona situation itself is difficult, but it is undeniable that interest in Monoverse has increased because of it.
What are the current trends in the blockchain gaming industry, and how fast does it change?
Jaden Lee: The current trend is Play to Earn games. Following Crypto Kitty, a market that combines NFT and Collection has been formed. Since 2020, thanks to the incredible popularity of Axie Infinity, the current Play to Earn market has been growing faster than any other market.
Existing game companies are also jumping into the Play to Earn (P2E) market, and higher-quality P2E games are being released daily. In a short amount of time, it is expected that the gamification world will be created in such a way that economic activities and most daily activities, such as shopping, will be performed within a game.
Who is the target audience of Monoverse? Do you have any interesting partnerships?
Jaden Lee: Our target audience is people from all over the world who love and enjoy gaming. Due to the nature of P2E games, those who want to generate additional revenue may also be targeted.
We are currently working on various partnerships with gaming and blockchain-related companies. We recently received an investment from a large Korean gaming company, Neowiz, and we are currently discussing potential partnerships with several other gaming companies.
Another interesting partnership we have made recently is with EYL. EYL is the first company to successfully use radioactive isotopes as the basis for quantum random number generator chips. Its Quantum Pulse Generator provides strong entropy, molecular randomness, and disorder to generate a truly random key in a way that cannot be reverse-engineered.
Monoverse and EYL will explore quantum random number generation technology as a way to resolve vulnerabilities in private key generation and user authentication. Through this collaboration, Monoverse is looking forward to enhancing the security of users’ private keys and cold wallets.
Tell us more about your platform/technology.
Jaden Lee: Our company has various blockchain-based technologies. We aim to practically decentralize the blockchain games we are making based on our experience in creating technologies that have not yet been popularized, such as blockchain-based exchanges, wallets, and Defi services. Currently, we are making our own game Defi, sidechain, wallet, etc., and we are trying to create our own ecosystem and platform.
How do you see the future of Monoverse? What are the next steps for the company?
Jaden Lee: We are developing a separate side chain from the NFT game “Frutti Dino”, which is currently under development, in order to grow it further without being complacent with reality.
The development of the sidechain is scheduled to be completed around April of this year, during which 21 validator nodes will be created. Various companies in the gaming, financial, and platform sectors will participate in each node. Accordingly, our ecosystem will continue to evolve, and I think this will be a good opportunity for the company to grow one step further.