Mai Truong Giang is a familiar name in start up world. But now, they witness another version of Mai Trương Giang
Present in the first “30 Under 30” list voted by Forbes Vietnam since 2015, Mai Truong Giang has built a series of highly recognizable brands in the Vietnamese market, from Chewy Junior, Otoke Chicken, and then there’s Chef Station.
Possessing a lot of experience in the F&B industry, over the past 12 years, he has always been considered the “leading bird” of the startup movement of generation 8X. However, this young CEO is not satisfied with himself and stops there because of that.
X1K edited the article on Forbes.vn to focus on blockchain information for you to read more clearly.
After 2 years of the COVID-19 pandemic, the world is still continuing to find a way out of this unprecedented scale pandemic. How are the disturbances caused by the pandemic affecting you?
It’s a terrible change. In the past, whether in business or in any other area of life, every time I faced a difficulty, I would calmly sit down, consider the problem carefully to know where the problem was, and then solve it. The past two years, the same habit, I sit for so long but the problems are still the same. In other industries, even though the supply chain has been disrupted, the prices of raw materials and logistics will increase, but if they are patient, they can still adapt. F&B was unable to operate. After many sleepless nights, I realized that at this moment, I don’t need to worry about what to do anymore, but how to accept it. For the first time in my life, I learned to let go, accept to close down the inefficient stores.
I understood, there are conditions that I won’t be able to influence, like the current pandemic, the best way is to accept it. The sooner you accept it, the more alert you will be to reduce the damage.
Not only F&B, the global supply chain disorder affects most other economic sectors. With the current situation, in your opinion, will COVID-19 establish any new successful business “formula”?
I believe that there are four factors that determine success in business: the earliest, the best, the most differentiated, and constant learning. To be successful, anyone needs to have relationships around them. I often tell young people, take the initiative to meet people who are better than you so that you can learn from their experiences. Everything, every person can bring us valuable lessons. The question is whether we want to learn or not. These four factors are essential to any business model, whether a pandemic is present or not. COVID-19 does not establish a new business formula but it does present a lot of new opportunities.
Specifically, what are the outstanding opportunities in this pandemic, sir?
The epidemic has clearly shown us the role and ability of technology in disaster response. Digital transformation in businesses and public services, especially in the education sector, is taking place extremely strongly. I consider myself really lucky because I have the background and knowledge of technology that I have accumulated before to not only survive but also find many new projects for myself.
Chef Station – a kitchen using cloud computing technology (CloudKitchens) is one of the solutions I deployed during the pandemic. This is a model that Travis Kalanick, co-founder of Uber built in 2016 so that restaurant owners can rent a space for food preparation and delivery through platforms. Although not yet booming, this model has greatly supported restaurants in limited business conditions. Unfortunately, the social distance during the fourth outbreak of the pandemic was too large and too long, causing the entire supply chain to break, so it was not successful.
In addition to Chef Station, I am also deploying technology applications in golf-related businesses and services, but this is a blue ocean and requires a long investment time. For now, the metaverse universe is an area that makes me want to challenge myself. Incorporating technology into all industries, from food to retail to education, can create breakthroughs, I believe so.
The power of technology is undeniable, but mastering technology is the challenge that many social experts have recommended?
To me, the most special meaning of technology is that it erases all distances. I was born into a relatively poor family. When going to school, I must also use the same book with friends. Perhaps, the pages of adventure books made me since childhood, have always dreamed of being a horseman, riding my own horse, taking care of it. In Vietnam, now, even if there are conditions, it is not certain that their dreams can be materialized.
When applying technology, things are completely different. My dream is not far away when I use technology to build a world called DeFiHorse. This project combines two of today’s fastest-growing markets: video games and horse racing. Based on Blockchain and NFT technology, this project is quite potential.
The market in early 2021 has recorded the appearance of games based on blockchain technology. Aren’t you afraid of competitive pressure?
I am not afraid of competition, but on the contrary, I am inspired. When the game Derace was launched, it created a fever that shook the market. Derace was listed on Binance IGO with a record of over 10,000% growth. With the record growth of the predecessor, it is clear that this is an area with a lot of potential to exploit.
What attracts players to this game?
Different from regular online games, the new technology in the game simulates a blockchain-based horse racing environment, in which users can earn income by fighting and contributing to the ecosystem.
Each steed in the game is a separate NFT, so players can completely transfer them anytime they need based on confirmation of “ownership” using Blockchain technology and NFT. Players can participate in horse races with other opponents and then choose free and paid races to create an attractive thrill.
Related: What is DeFiHorse? Interesting horse racing NFT game coming in 2022
During the implementation process, what do you personally like most about the DeFiHorse project?
DeFiHorse’s visual art is a very beautiful, vivid 3D creation that many people want to own. Compared to the visual art of the DeFiHorse game, it is completely different from the rest of the horse games on the market. The four horse gods in DeFiHorse are symbols of the four largest technology corporations that are vying for world domination.
- The Chaos – is the rarest horse breed in the DeFiHorse game, born from the big bang, each step creating a new galaxy.
- The Titan – billowing body made of hot coals and fire, every step is moving mountains and rivers.
- The Poseidon – god of the sea with the unlimited power of the ocean.
- The Heroic – the symbolic god of earth and nature.
DeFiHorse is well invested in visuals and has a good story. All unique creations in the world of DeFiHorse using visual art are made by young Vietnamese people. And this is also something to be very proud of!
Launched later, what strengths does DeFiHorse have to compete with other blockchain games?
DeFiHorse is a fantasy in the year 2099. In that world, each line of steeds features exclusive use of the most advanced technologies: Quantum technology, Gene technology, artificial intelligence, travel technology. space travel. Players will be surprised by the unique shape of these future gods.
In DeFiHorse, every race is exciting and contains many opportunities to become legends. Because everyone can freely create their own gods. In addition, DeFiHorse also has a breakthrough that allows players to directly interact with the game, increasing the character’s experience. It’s a “tap to earn” mechanism. During the race, in addition to equipping items and breeding horses, players can interact with reality to help their steed improve speed compared to other opponents. Actually, the gameplay of “Play&Earn” is not strange to the NFT gaming community, but at DeFiHorse, the game mechanics are rich so players can choose different ways to earn money.
What potential makes you want to participate further into the technology field?
Of the world’s 8 billion people, 3.1 billion people play video games, about 40% of the world’s population, an increase of more than 1 billion people within 5 years. These numbers are still increasing. And yet, the horse racing industry has been in the spotlight for centuries and is worth billions of dollars. With a new world like DeFiHorse, the sport enthusiasts will be able to enjoy both in real life and in fantasy worlds.
However, apart from the great economic potential, what makes me want to participate in this project is the ability to promote domestic human resources. Vietnam is a fast-growing country and has extremely creative IT human resources, capable of outsourcing for many big brands. As long as we have the vision, and the ability to make good use of local human resources, we are fully capable of implementing global technology projects, erasing our entire distance from the world.
When choosing a new path, are you concerned that the game metaverse is still an issue of disagreement in terms of opinion in Vietnam?
There are countries that research and accept cryptocurrencies. There have been plots of land in the metaverse that sold for $2 million. The potential of the metaverse economy is real.
As for social controversies, I do not deny them. We live in a world filled with technology and that is the movement of the future. The world will move in a way we cannot deny. The future of technology is a very new picture, instead of being skeptical to lead to the loss of opportunities to adapt and develop in the future, we need to equip ourselves with the skills to master technology so that technology really serves life.
Will the new project make the “F&B startup warrior” away from his familiar territory?
With food, I’ll be back in a different role. I’ve passed on to the next team what I’ve built up so that I can fully focus on the new project. There are many investment opportunities and there are many young, talented people to accompany me, so I have to focus all my efforts on this project. DeFiHorse will not encapsulate the scale in Vietnam. This project that brings together a lot of talented people is determined to be long-term from the beginning, and will explode in the global market.
Starting a business at the age of 40, do you think you have more advantages?
Youth has a desire and has the great advantage of not being afraid, just going like an arrow that only knows how to rush to the target. When there are many experiences, many stumbles, people will be more cautious but also more skillful in handling problems to minimize mistakes. I don’t usually calculate what I have that I’m afraid of losing.
My biggest fear is old stuff. I try to renew myself, renew my life so that I can always move forward.
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