Recapitulation of DareNFT PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 30th October, 2021
Time: 14:00 PM UTC
The DareNFT PROJECT team was represented by @Duke_DareNFT who judiciously shared with us detailed knowledge and information about DareNFT PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on DareNft?
ANS: Thanks Aim for host this ama.
My name is Duke, the CEO & Co-Founder of DareNFT. I'm very happy to be here today to share about myself and the project i'm running for our community, AMA Lovers Club 👍
I have backgrounds in data sciences and researched quantum computers at Keio university, Japan.
I'm also a serial entrepreneur and I have co-founded two start-up companies utilizing video conferencing technology since 2014.
I have joined the blockchain space since 2017 after one of my best friend Victor Tran (Kyber Network CTO & Co-founder) succeed in his very big ICO back then. Then I and some of my close friends who are now DareNFT's CFO, CMO make cryptozoom to seriously researched about the blockchain technology. After successes with utilizing state of art technology to real products, we now want to bring blockchain to mainstream with real applications.
Here's my linkedin page https://www.linkedin.com/in/duke-nguyen-ceo/.
Feel free to connect me guys
You can find team information here:
Q2: Can you introduce DareNft , what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
DareNFT team is building the new protocol for NFT 2.0. We findout some issues from NFT 1.0.
Existing NFT 1.0 can only serve collectibles, artworks (the contents that remain unchanged between owners), but most of the Internet contents are changed overtime (derivative contents). DareNFT is the world's first platform can serve this huge market of derivative contents.
To do that, we propose a novel model of NFT - NFT 2.0 in which extends existing NFT 1.0 with additional smart contracts as below:
1. rental smart contract
2. subscription smart contract
3. royalty smart contract (for sharing benefits between original authors and derivative authors (reproducers)
4. derivative licensing smart contract
With DareNFT, original authors can firstly protect their copy rights and share commercial rights to reproducers and receive shares from derivative contents in return. All of this happens in transparent and effective revenue sharing mechanism based on blockchain.
Here's the piece for explaining NFT 2.0. It describes more details what exactly is NFT 2.0 in our view https://medium.com/darenft/darenft-the-nft-2-0-for-internet-contents-f411234cd837"
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: The DareNFT team has completed the IDO round successfully. I will share with you some info about this event.
After 2.5 hours of being listed on PancakeSwap and KAIDEX, here's what the DareNFT team have achieved:
#1 Trending on Dextool
ATH 85x IDO price
Telegram reached 120K members
Twitter reached 110K followers
Also, after 15 hours of IDO listing, we have more than 5,300 DNFT holders.
I want to share the roadmap after IDO.
We will focus on launching our first MVP - the DarePlay.
As you may know, DarePlay is the bridge between traditional game & blockchain space. By using DarePlay, we will help many traditional game companies to join the blockchain world.
DarePlay is also the marketplace for game assets, and this is huge.
Beside the DarePlay, we are also planning INO/IGO to launch some block games in DareNFT.
The DarePlay is just around the corner, we will launch it in aroudn next few weeks.
Q4: You made mentioned of INO/IGO
What's INO? Are DareNFT team ready to launch the INO & IGO?
ANS: sure. This's interesting program that I want to share.
INO means Initial NFT Offering on DarePlay. By INO, it means that traditional and NFT games can organize their primary NFT sales on DarePlay. It’s the first gateway that can bring the first users for the blockchain games, so that’s why we decided to start with INO and its rules on DarePlay first.
We appreciate all $DNFT holders & they will be ones who benefit the most & get the secured allocations in the INOs on DarePlay.
The 1st INO of DarePlay is expected to take place in the 1st or 2nd week of November
In each INO that DarePlay will co-run with the NFT game partners, we will reserve the majority of NFT items that will be sold to $DNFT holders. You will need to hold $DNFT in your wallet or stake $DNFT in our DareFarm (expected to be launched in November) and from there, we’ll calculate your average holding/staking balance in $DNFT.
All $DNFT holders who wish to join INOs on DarePlay will need to join the whitelists first to get the eligibility. When pools for $DNFT holders in the INOs open, all whitelist winners will jump in and buy NFTs until the pool runs out of items.
Check this article for more info.
Q5: Before we proceed, can you share some information about DareFarm?
ANS: DareFarm is our initiative in DeFi space. As in this program, users earn some profit via staking DNFT.
DareFarm is still in beta-mode, we will release more info about this soon on our official channel. Please stay tune with us in this channel: https://t.me/darenft_official
Q6: Finally on this segment, Can you give an overview of the Tokenomics and Utility of the governance token $DNFT?
ANS: There will be a lot of information about DNFT's tokenomics (which is DareNFT's token), but I'll highlight a few key points that the community is interested in here:
- Total number of tokens distributed: 100B DNFT
- There are three fundraising rounds: Strategic Sale (5% unlock at TGE), Private Sale (10% unlock at TGE), and Public Sale IDO (25% unlock TGE). The total token supply at the time of listing is 2.38%.
- Initial Cap: $475K
- Valuation in the public round: $20M
Users holding DNFT tokens will receive:
1. System Fee/Commission
2. DareNFT DAO revenue
3. Deflationary model: rewards for stakers/LPs, discount for end-users, used for burning and reserve
you can check the DareNFT's tokenomic in our pitch deck here: https://docsend.com/view/96wqjnvdx4i6vzij
2nd Segment: LIVE Questions
Q1: In the near future, can DarePlay become a platform for IDO or just a marketplace to exchange and rent NFT items?
ANS: As I shared above, we will launch INO, which is similar concept of IDO. INO will focus on many blockchain game, that can a source of attraction for most game players and new investors in cryptocurrency market.
Q2: What is DarePlay currently doing to make its community proud and to achieve satisfying results? What advances are there in relation to marketing and in relation to reaching more users, potential investors? How does the project show the importance it places on the community?
ANS: Good question here.
DarePlay is our first product, but also this is the center for many initiatives from the DareNFT team. From DarePlay, we will establish relationship with many game partners and traditional game companies, which will launch the marketplace for the whole world of blockchain games.
Q3: Do you believe Referral Program is a great way to do marketing and acquire new users ? Does DareNfts have an Referral Program, I am thinking of bringing all my Crypto class members to DareNFT ?
Are derivative works generally created with the intention to be better than the original ? Is derivative work only limited to ART ? IF not then, would you agree that Most people do not realize how much derivative content affects our daily lives because it can be found virtually in all aspects of your daily life
ANS: Sure, we have. After DarePlay, we will launch some marketing campaigns to invite more people to engage with our project. And as you know, one of our initiative is Darework, that can create derivative versions for the internet contents. From here, you can participate referral programs from DareNFT.
Q4: Is the DarePlay already launched? Is there anyway we can have access to the demo version of the DarePlay? When can we expect the first NFT sale on the DarePlay? Have all codes been audited and passed so that there will be no hitch ahead of the first NFT sale on the DarePlay? And will there be a whitelisting process for the NFT sales on DarePlay?
ANS: I can share the beta version of DarePlay: https://dareplay.darenft.com
and the teaser here for those who dont have time to try the DarePlay 😉
And if you prefer long-form content to know more about the DarePlay, you can check here: https://medium.com/darenft/launching-our-1st-product-dareplay-the-one-stop-gamefi-platform-for-traditional-and-blockchain-3a6491fdd9f5
Q5: I did a little research on your platform and there are several ways that NFT rentals and leases work with a protocol. So, can you explain how rentals work? If I lease an NFT do I run the risk of no longer being the original owner?
ANS: The rental mechanism of NFT 2.0 from DareNFT is similar with the rental mechanism in real world.
Basically, the rental mechanism of DareNFT is that we establish "NFT mapping" for the relationship between the rentee and the renter.
Q6: I did a little research on your platform and there are several ways that NFT rentals and leases work with a protocol. So, can you explain how rentals work? If I lease an NFT do I run the risk of no longer being the original owner?
ANS: I will choose this is the best question, as this member learns about us very well. 👍
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