We have received numerous inquiries regarding Banger's project. To provide clarity and address recent concerns within the community, we present this transparency report. Our commitment is to be transparent and accountable to our valued community members.
We want to emphasize that purchasers who engaged through a Simple Agreement for Future Tokens (“SAFT”) contract were acquiring a utility currency usable in the Banger Games platform. It is important to note that purchasing the future token did not grant equivalent rights or ownership in equity or share of the company. That being said, we would like to address the recent FUD from some community members.
The QWAN acts as the sole utility currency of Banger Games. It is used to participate in competitions, purchase season passes, complete premium season objectives, buy and sell on the p2p marketplace, and create tournaments. In addition to utility within the Banger Games platform, the QWAN is a decentralized ERC-20 gaming token packed with more utility and broader governance. The QWAN has its own website and governance terminal where token holders can vote on treasury management and decisions made to improve The QWAN ecosystem. Not only do token holders have utility to the Banger platform but also decision-making power for future applications and utility of The QWAN.
Banger Games has been at work since April 2020, and during these past three years, our intentions have always been very ambitious. We aim to create the best gaming platform in the market, with actual ownership of the economy for each gamer through a decentralized token that could expand its utility beyond Banger’s platform.
From a modest and self-funded start, we bootstrapped and growth-hacked every step of the initial journey and built a very good MVP. With the euphoria from the bull market in 2021, the token’s private sale had a good reception and we started gathering great support, which opened many doors.
Once with enough resources, we started building the platform and the company to compete and beat other projects built by larger players that were and still are under development today.
To that end, we have collaborated with multi-awarded and experienced advertising, marketing, and communications executives who have worked directly and indirectly in the video game, entertainment, and tech industry for decades. All the image for both the platform and the company itself has been developed with the highest quality to provide our gamers with a complete sense of immersion and gamification. We can claim and are proud of having had people work alongside Banger from the top companies, industries, and sectors in both web2 and web3, and it shows in the product. On the development side, our team also included a high level Tech expert with over 20 years of experience managing a team of ten senior developers that have brought the platform to an excellent Alpha stage, that currently fills up at each new test period.
With a team of over 40 collaborators and other agencies, we have adapted to the worst macroeconomic conditions faced in the last few decades and kept building throughout what has been a prolonged crypto winter, with the only purpose of reaching our goal: to adopt the right economy through our adopted utility token and launch the Banger Platform.
Over the past years, we have completed several Alphas and closed Betas with openly public games. In 2020, we started testing competitions with games like Fortnite, FIFA, or Runescape. These competitions were organized through manual evidence upload for final game results and had over 1,000 participants. These were proof of concept tests to determine if our future MVP was possible. In the second round of testing, we hosted fully automated competitions using Counter Strike Global Offensive for 5,000 participants. In this period, we tested our custom-developed anti-cheat client, custom servers, single elimination style brackets, and various map types. Finally, today we are hosting a 3,000 participants Alpha over casual style PUBG competitions. These have also evolved into more complex infrastructures like leaderboard-style competitions catered to casual gamers rather than Esports professionals. We plan to proceed into another closed Beta where wallet integrations and paid tournaments in QWAN will be hosted, followed by the open Beta.
In addition to our service providers, we have established partnerships with renowned agencies worldwide. For UX/UI design, we collaborated with Fantasy, the leading world-class agency behind the interfaces of esteemed companies such as Google, Netflix, Spotify, and Twitter. This collaboration spanned over six months and covered various aspects, including brand design, user experience, user interface design, market research, and visual effects.
Over the past three years, we have secured substantial deals with both IBM and Microsoft as our technology providers. With IBM, we completed projects such as developing an Anti-cheat client and an AI assistant for our platform. During eight weeks, we collaborated closely with a team of five senior IBM developers to bring these initiatives to fruition. On the other hand, Microsoft has been instrumental in supporting us with game servers, infrastructure, database storage, and a suite of applications within the Microsoft ecosystem.
We have engaged with several legal firms globally, including the United States, United Arab Emirates, the Cayman Islands, the U.K., Estonia, Spain, Singapore, and Panama. Our primary collaborator in this area has been Fenwick & West, with whom we have worked closely since last year. Fenwick & West, a US law firm, is the world's leading legal expert in the blockchain and crypto-assets industry and have advised companies such as Opensea, Coinbase, Cisco, Meta, and Compass, among others.
For Web 3 consultancy, we have engaged with Horizen Labs Ventures daily for the past eight months. They have been key regarding the whitepaper, tokenomics, communications, partnerships, dao terminal creation, exchange listings, market makers, and project management.
Furthermore, we have partnered with other service providers, such as Market Across (PR), who have secured publishing on media sites such as Bloomberg, Cointelegraph and Yahoo Finance, among others. We worked with NOH studios on creating content and trailers around the Akirant x Banger NFT collection. Akirant (who has worked for entertainment giants like Lucas Film & Iron Maiden) helped design our NFTs with over 4,000,000 variations. IBC has been providing marketing support for social media activations, including Twitter spaces with some of the largest audiences. NonceBlox assisted with smart contract development. These are just a few service providers we have collaborated with over the past three years.
Additionally, some resources were dedicated to various other expenses, such as corporate, listings, and distribution purposes related.
Our primary focus has always been to bring together the best talent to create a unique gaming platform. With that being said, due to the events that have occurred with the Qwan’s listing we are currently managing the burdensome circumstances derived from the unjustified and disproportionate attack from various individuals and entities, who are knowingly spreading false and unfounded information about our company which is damaging the reputation of Banger and our team. In light of these circumstances, we are working with our legal counsel to analyse possible actions and measures to defend our interests.
We publish this transparency report to provide a deeper level of transparency to the Banger Games community. It is a testament to our commitment to open communication and accountability. We aim to support the recently released transparency report by The QWAN Foundation. We appreciate your ongoing support and trust as we work towards our shared vision.
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