Recapitulation of FM GALLERY PROJECT AMA event held at AMA LOVERS CLUB.
Date: Sunday, 21st March, 2021
Time: 15:00 UTC
The FM GALLERY PROJECT team was represented by @GRACEyaa and @Florafm who judiciously shared with us detailed knowledge and information about FM GALLERY PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on FM-GALLERY?
My name is Feiming Peng. I graduated from Tsinghua University and have been active in the traditional art and fashion toys industry for many years. At the beginning of 2018, I started to work in the blockchain industry. Right now, I am the Founder/CEO of FM Gallery. FM Gallery is a blockchain-based platform for NFT artworks and fashion toys.
It’s kinda weird to say this myself, but I am probably the largest NFT influencer in the Chinese-speaking community with over 20k followers on Clubhouse and over 1 million followers across social media.
For FM Gallery, I also have several teams that are working with me: the business development team, marketing team, product team, software engineering team, and etc.
Q2: Can you introduce FM-GALLERY, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: FM Gallery is the digital art gallery that connects the blockchain world and the art world. We strive to empower the world of arts and fashion with innovative art fragments as well as autonomous fan communities. With blockchain technology, an artwork can be divided into several fragments. Each fragment, represented by an NFT, contains a unique art story. By collecting fragments, users are able to complete the artwork and redeem the completed NFT for physical artworks. Collaborating with top artists, galleries and auction houses around the world, we will continue to release physical and virtual crypto artworks on our blockchain.
Let me briefly talk about the innovative gameplay that we will release on our platform soon. We officially launched our Genesis Blind Box Series this week, which was sold out completely. That was an amazing series!
The Genesis Blind Box Series included three packs in different rarities — common, rare and legendary. By opening a pack, users will randomly receive an NFT artwork designed by renowned artists, with an estimated value of up to $42,500, or receive a generous reward box of WAH, FM Gallery’s governance token.
I also would like to briefly talk about the art fragments. In addition to the three boxes (common, rare, and legendary,) we have also included an exciting bonus. Different packs may contain fragments of an artist’s entire artwork. For example, there is a series of artworks called Kali Yuga in our rare pack, which is composed of 6 different pieces. Our users can open the blind box and collect the six pieces in the Kali Yuga series. Once successfully collected the six pieces, the user can get a mysterious gift from us.
One more amazing fact: The digital version of Kali Yuga is obtained from the physical oil painting by NFN Kalyan.
NFN Kalyan is an Indian-American artist living and working in Miami. Kalyan participated in the earliest drops on Nifty Gateway, where his works enjoyed great popularity. As he continues to expand his influence in crypto arts, his drops have always sold out in less than a second. At auctions, the bids for his pieces could increase 30–40 times the original prices.
For any future drops, please join our telegram group: https://t.me/fmgalleryeng2.
A project came into the blockchain world few years back but couldn't succeed and had to go into extinction...
yeah lots of project have failed. I am trying my best to build out FM Gallery to become a success story.
So you said an art will be divided into different fragments each of which is represented by 1 NFT?
Each fragment is an NFT, when you collect all the NFTs that belong to that specific artwork, you can get the complete artwork's NFT.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Sure. We have achieved multiple significant milestones lately.
We announced this week that we have completed private fundraising with over $1 million raised from institutional investors including AU21, GBV Capital, YBB Foundation, AlphaCoin Fund, Hotbit, Legos Capital and Crasolum Ventures, as well as renowned individual investors and influencers such as Yemu and Edna.
We are overwhelmed by the interest and support from our investors. We are oversubscribed by four times, which has infused us with confidence. We’re fortunate to partner with so many renowned NFT artists, whose works are currently available in our Genesis Blind Box series. They have also shared with us their insights into crypto arts on Clubhouse, inspiring us to keep innovating the art market with more physical and virtual crypto artworks.
Additionally and most importantly, FM Gallery has announced the world’s first dual IDOs for NFT arts. On 3/22, we will be launching two IDO together: one on Bounce Certified, another on Poolz. We have opened the whitelists for both sites. For more information regarding the whitelists and IDOs, please join our official telegram group: https://t.me/fmgalleryeng2.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: haha you are always asking the key questions.
Yes, we have partnered with world- renowned NFT artists whose masterpieces are included in our blind box series. We are also working with Bounce on a partnership, which will be announced in a couple days. In addition, we are announcing a partnership with the world’s largest NFT marketplace as well. Definitely stay tuned and feel free to join our community to learn more! Telegram：https://t.me/fmgalleryeng2.
Below are some brief intros to the artists that have partnered with us:
Chad Knight is a 3D Instagram artist whose work has gone viral, starting a pervasive internet rumor that his art was a real-life place in Japan. He recently sold a record-breaking 400K worth of art on the NFT platform Nifty Gateway.
As a natively digital painter, Peter Mohrbacher's work has been widely collected through Limited Edition prints. Peter's iconic Angels have had a sizable impact on the way pop culture depicts Angels. You can see shades of his influence throughout the digital art world and spot references peeking through in movies, video games, and other media.
NFN Kalyan is an Indian-American artist living and working in Miami. Kalyan participated in the earliest drops on Nifty Gateway, where his works enjoyed great popularity. As he continues to expand his influence in crypto arts, his drops have always sold out in less than a second. At auctions, the bids for his pieces could go up 30 to 40 times the original prices.
Klarens Malluta is an Albanian visual artist. He has been creating artworks, posters and animations every day since 2017, experimenting with different softwares and techniques to generate original visual content. Inspired by elements of the 80s, he expresses himself through a very modern style described as retro-futuristic, glitchy, and very playful.
Shan Qiao is an award-winning artist who has worked with some of the biggest companies in video game and film production, including Blizzard Entertainment, Riot Games, and Tencent. His work can be seen in top games, such as Overwatch, CrossFire, and League of Legend. Shan is currently a concept artist with Sony's Santa Monica Studio where he is working on the famous God of War series.
Peter Chan currently lives and works in Toronto, Canada. Chan’s narrative themes can be considered autobiographical, though the artist often explores critical themes of East Asia. In his work, he distorts and recomposes imagery to form compositions that allow for new narratives and meaning. His work has been exhibited in solo and group exhibitions worldwide including Hong Kong, London, Paris, New York, Los Angeles, San Francisco, Seattle, Montreal, and Toronto.
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $WAH Token? 😎
ANS: WAH will be the governance token for the FM Gallery ecosystem and will conform to the ERC20 standard. The total supply will be fixed at 100,000,000 tokens. Being a DAO, we need to design a fair model for distributing WAH tokens to incentivize the community to use the platform actively. The distribution breakdown is as follows:
1. Team — 20%
2. Ecosystem Fund/Community Governance — 15%
3. Private Sale, Seed Investors and Advisors –15%
4. Community — 50%
Team and Advisors will be allotted 20% of the supply (20 million WAH). 5% of that (1 million WAH) will be vested on TGE and remaining will be vested linearly over 12 months on a monthly basis.
• Ecosystem Fund
The Ecosystem Fund will be allotted 15% of the supply (15 million WAH). This will be used for funding for the day-to-day operations and other activities to grow the platform like marketing, partnership, smart contract audit, etc.
• Private Sale, Seed Contributors and Advisors
Private Sale and Seed Contributors will be allotted 15% of the supply (15 million WAH). Vesting schedule for each of them are –
1. Private Sale — 8.6% of the total distribution (8600000 WAH). Around 29% (2500000 WAH) will be vested at TGE and the remaining will be vested linearly over 12 months on a monthly basis.
2. Seed Contributors — 5% of the total distribution (5000000 WAH). Around 20% (1000000 WAH) will be vested at TGE and the remaining will be vested linearly over 12 months on a monthly basis.
3. Advisors — 1.4% of the total distribution (1400000 WAH). Around 20% (280000 WAH) will be vested at 1 month after TGE and the remaining will be vested linearly over the next 11 months on a monthly basis.
More a more detailed break down, please feel free to check it out here: https://medium.com/fm-gallery/the-wah-tokenomics-5f8acd35d84c
Or join our community at https://t.me/fmgalleryeng2.
2nd Segment: LIVE Questions
Q1: HELLO 👋, 🙋♀ FM Gallery is a blockchain-based distribution platform for NFT artworks. So by means of distribution, does it mean anyone can be able to release their digital artworks in FM Gallery or there’s some process to be followed? So, how to find, persuade and sign contracts with artists?
ANS: Not everyone can release their digital artworks on FM Gallery. We are the digital art gallery that connects the blockchian wolrd and the art market in the real world. We are very selective in terms of the artists and artworks that we present. We have an art committe to review the incoming artists and artworks. We will reach out to different artists if the art comittee really likes their artwork. Artists are also welcomed to reach out to us via firstname.lastname@example.org.
Yes. We wanted to attract both the users in the crypto community and the ones in the non-crypto community. We have created extensive marketing strategies to attract the users from different communities.
- For example, we release news on both the crypto media and traditional media.
- I have more than 1M+ fans across social platforms in China and more than 20,000 followers on Clubhouse. I share the upcoming news about FM Gallery on those platforms. I also have hosted several Clubhouse events with the artists that we have collaboration with.
Q2: In your opinion, in what ways will the value of the NFTs be reflected in order to benefit the owners? How will you maintain the stability of the blockchain world and the art world and balance the value of the NFTs equivalent to actual works of art?
ANS: The key factors for impacting the NFT price: the artwork value behind the NFT, the liquidity of the NFT. As I mentioned, we are very selective in terms of the artists and artworks. We will have our art commitee to review all the artworks before the release. We wanted to make sure that the artworks we are presenting have intrinsic art value. For the liquidity, we are in discussion with different platforms, such as Bounce, Rarible, and Opensea regarding potential partnership. We want to make sure that our NFTs will have good price in the secondary market.
Q3: Are FM Gallery still working in Future work or already success ? Tell me the journey..?
ANS: There are several key components that will allow FM Gallery to stand out:
Large Fan Base: I will utilize my organic fans traffic and combine it with our artists’ fan community to promote the artworks on our platform. i have more than 1M+ fans across social media channels in the Chinese market.
The Innovative Gameplay: As I mentioned earlier, we are implementing a lot of new gameplays, such as blind box on our platform. Those gameplays will automatically draw a lot of attention from the users.
Extensive Marketing Planning: We are very ambitious in terms of our marketing planning. We are deeply connected with the KOLs in both the US and Chinese market. We will be launching intensive marketing campaigns soon. We will significantly increase our community users with those marketing strategies.
Prioritizing User Experience: We have always kept user experience in our mind. We have already created our official communities on different channels, including Telegram, Discord, Wechat, Facebook, Twitter and etc. If any users have questions/suggestions regarding our product, they can reach out to us easily.
Our goal is to build a welcoming community for our users and our artists. With the four elements above, I am confident that we will gain decent market shares in both the US and Chinese NFT market.
Yes. We are aware of this issue. We are based on ETH, so once ETH 2.0 has completed the adoption of POS, we will automatically be using POS. The development of ETH will be dependent on their developers' hand.
Thank you so much for having me here today. I really appreciate the opportunity to talk abou FM Gallery. Together with my team, we are try our best to establish FM Gallery as the next generation digtal art gallery. If you like our project, please join our telegram group and stay tuned. We will be sharing more good news with you.
For any more questions that you may have, please join our groups:
Medium: FM Gallery https://medium.com/fm-gallery
Telegram Channel: FM Gallery Official
Twitter: FM Gallery
Discord: FM Gallery Official
Facebook: FM Gallery
Instagram: FM Gallery
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