Recapitulation of LUXFI PROJECT AMA event held at AMA LOVERS CLUB.
Date: Friday, 8th October, 2021
Time: 12:00 PM UTC
The LUXFI PROJECT team was represented by @Ly_lxf and @Aidaa_LuxFi who judiciously shared with us detailed knowledge and information about LUXFI PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and the team behind LUXFI project?
ANS: Sure! I’m Aidaa Wong, founder and CEO of LuxFi. I previously held positions as creative director and chief designer for international fashion brands, and worked with various fashion groups to build their brands in Hong Kong and mainland China
I have been working in Luxury and technology fields for many years. I see the challenges in the luxury industry, and this led me to found our latest blockchain project — LuxFi!
Our team is composed of professionals who have worked for many renowned companies with extensive business expertise in multiple industries that include blockchain, technology and luxury industries.
You can check our categorie "OUR TEAM" on our website for more information: https://luxfi.io/about
Q2: Can you tell us about LuxFi. How and why did you start this project?
ANS: LuxFi is the world’s first asset-backed NFT marketplace for luxury assets.
People can buy, sell and invest in luxury assets using cryptocurrencies on our platform, as well as using traditional payment methods.
We focus on Luxury Assets that hold value well and have a high reselling value. Let me show you which categories of products exactly:
The reason why we started this project is because I have been working in the luxury industry for years. I have seen the luxury market is highly fragmented and plagued with multiple issues including counterfeitings, no benchmark price for pre-owned assets and illiquidity when you want to resale them.
The real value of luxury assets has not been unlocked, for instance, many luxury assets and collectibles have high resale value in general but they are usually idle and not circulating.
Our vision is to create a sustainable ecosystem for luxury assets where LuxFi is tackling those challenges plaguing the luxury industry.
Q3: What makes LuxFi special in the blockchain and luxury goods space?
ANS: As mentioned before, LuxFi is the world’s first real-world asset-backed NFT marketplace for luxury assets.
What special about LuxFi in blockchain and luxury goods space is,
First, we are able to eliminate counterfeit items while minting an NFT on our multi-chain blockchain network, all the NFTs selling on our marketplace are tied with real-world assets, and buyers can redeem the physical asset after purchasing an NFT on our marketplace.
We have two ways to tie the real-world assets and digital NFT.
For those finished products, after the physical asset is authenticated by the professional verifiers in our network, we use product fingerprint technology to tie the physical luxury asset with its NFT on blockchain, product fingerprint is unique for each item, even tho they are the same products,
Here is the slide showing how we use product fingerprint technology to tie the real-world luxury asset with its NFT on blockchain.
And, for those products we work directly with brands and manufacturers, we put NFC chips inside of each item during the production.
So, after the buyers receive the physical asset, buyers can simply scan the product fingerprint or the NFC of the item, to see if it's the original and authenticated item of the NFT.
Last but not least, the value of each NFT on our platform is backed by real-world data, leveraging on our big data intelligence system and unique algorithm for automated data collecting and data processing, our blockchain-based data intelligence system automatically collects and analyses millions of data points from global sales channels, online and offline, as well as different social media platforms.
If you want more details on how we tokenise our luxury products, watch our Youtube video here: https://www.youtube.com/watch?v=iFCfsjteJBw&t=12s
Q4: What is the best way for the Audience to use LuxFi services?
ANS: Brands and retailers can use our data intelligence system as mentioned above. LuxFi’s data intelligence system is able to convert raw data from social media and sales channels, SKUs, and various luxury brands into valuable information and business insights for decision-makers.
Our community can already start participating in our events (campaigns, giveaways, NFT Auction…) to get multiple benefits and already earn $LXF Token. $LXF can be used in our platform first to authenticate the real-world asset, then convert it to NFTs and list on our marketplace.
Everybody in our network have the option to buy NFTs then use our $LXF to redeem the physical assets.
Or earn $LXF tokens by actively participating in the NFT marketplace or by referring your friends to our platform. If the referee is buying or selling on our platform can earn even more $LXF tokens.
We also organize AMAs and campaigns like Airdrops where our community can earn $LXF tokens.
Q5: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Absolutely! We are currently running different major campaigns and events, and we are intensively promoting LuxFi through partnerships.
We have started an NFT Auction Sales and Lucky Draw from September 26th, and that will end on Sunday October 10th.
AMA Lovers Club members can also get an exceptional bonus: if you participate in the Auction & Lucky Draw with a bid from 0.01 ETH, you can follow this link to receive an extra 3x Lottery tickets with the code “AMALOVERSCLUB3”: https://docs.google.com/forms/d/e/1FAIpQLSeHu8Rx2lUQCpyS6yPWnbMys9pa7S6yM7NRJgeFn0-59s7TYA/viewform?usp=send_form
You can put as low as 0.01Eth to participate in this Auction & Lucky Draw. Top 5 bidders will get our ultimate Legendary Ape NFTs backed by real-world luxury assets, along with our Membership different levels and other benefits. The winners can always redeem the physical asset of the NFT so you can get the physical asset at any time after the launch of our NFT marketplace!
Everyone who participates in this Auction will get a lottery ticket for every 0.01 ETH bid, to have a chance to win a Rolex, Hermes, limited edition Sneakers, and other collectible items in the lucky draw. Of course, you can get as many lottery tickets as possible to increase your chance 👏🏻
To bid, click here: https://luxfi.io/auction
Or scan the QR code below:
Finally, we are preparing for launchpad and our IDO is end of this month in October. Follow us on our social media channels for more information!
If you want more information on our timeline, check our roadmap here
2nd Segment: LIVE Questions
Q1: Where can I reach you easily? I see you are on multiple channels.
ANS: You can visit our website here: https://www.luxfi.io
The best way to follow our most updated news and reach us is through Twitter, Telegram and Medium:
But you can also find us on:
You can simply scan those QR codes:
Q2: I am looking to buy your token but I have read your IDO is at the end of October… Is there any way to get LXF now?
ANS: Through our NFT Auction & Lucky Draw, in addition to our 5 Legendary Ape NFTs and other NFTs backed by luxury assets, you have a chance to win LXF if you are top among top bidders. Either through our LuxFi membership levels, either through the $100,000 worth of $LXF token pool.
Participate in our Auction & Lucky Draw if you want a chance to win $LXF! https://luxfi.io/auction
Q3: I saw you are using NFC chips, how does it work?
ANS: As mentioned before, all NFTs on our marketplace are tied with their physical products. We have two ways to tie a real-world asset and its digital NFT.
We explained earlier how we use fingerprint technology.
And for those products we work directly with brands and manufacturers, we put an NFC chip inside of each item during the production.
So, after the buyers receive the physical asset, buyers can simply scan the NFC of the item, to see if it's the original and authenticated item of the NFT.
Q4: Your latest Medium Article is about “Buy A Birkin Hermes or Limited Edition Sneakers with Crypto: A Reality in 2021 with LuxFi”. This is the first time I heard of the possibility of buying luxury goods with cryptocurrency. Is it really possible?
ANS: Absolutely! We are the world’s first asset-backed NFT marketplace for luxury assets where people can buy, sell and invest in luxury assets using cryptocurrencies on our platform, as well as using traditional payment methods.
Some of the cryptocurrencies you will find include (but are not limited to) the ones below:
We partner with more and blockchain partners and accept their cryptocurrency in our platform among the other cryptocurrencies.
Q5: What is your marketing plan before IDO?
ANS: We communicate at a global scale. Our marketing plan is to reach an international audience through active communication on social media, press releases and creating content related to LuxFi. This includes articles, video content etc.
We are actively growing our community and we make relevant partnerships on a frequent basis. When our NFT marketplace will be launched at the end of this year, we will be able to show the utility of our platform to our users; which includes buyers, sellers, investors, brands and retailers.
Q6: What do you think about the future of the Luxury Industry with blockchain technology?
ANS: We envision the industry of luxury to continue embracing all the new technologies, including blockchain technology. And it is already happening. Luxury brands took it slow to embrace the advent of e-commerce, they don’t want to miss another opportunity.
We are confident in the solutions LuxFi can bring into the industry to tackle its challenges. As mentioned before, we will be the world's first asset-backed NFTs marketplace for luxury assets. We will aim to position ourselves as a leading solution for buyers, sellers, brands, retailers and other major actors in the industry.
Q7: Is your NFT marketplace available now?
ANS: We are now building our NFT marketplace, and it is expected to be officially launched in Q4 this year, at the end of this year.
Our strategy is to first target professional sellers, retailers and brands to list their luxury assets on our platform, and the beginning of next year will be for everyone to buy, sell or invest in luxury assets on our platform. We are currently striking partnerships with different luxury retailers around the world.
Q8: Are you appearing on global blockchain media (Cryptotelegraph, bitcoin.com…) like other successful projects?
ANS: Our project is appearing on global blockchain media channels such as bitcoin.com, cointelegraph…
And other more general or business media like Business Insider, Yahoo, Bloomberg and more.
One example is our press release on http://bitcoin.com: https://news.bitcoin.com/the-nfts-revolution-luxfi-is-launching-asset-backed-nft-marketplace-for-luxury-assets/
More press releases are coming! 👏🏻
Q9: How do you bring value to LuxFi users, what are their benefits?
ANS: Apart from our solution, which includes:
Our world’s first asset-backed NFT marketplace for luxury assets, that allows users to use cryptocurrencies as payment method, as well as traditional payment methods
The use of new technologies (including blockchain and data intelligence) to tackle the challenges in the luxury industry
We also offer multiple benefits to our community! As I mentioned earlier we organise multiple giveaways and campaigns to win USDT, LXF token and more.
If you participate in our ongoing NFT Auction & Lucky Draw, besides NFTs backed by luxury assets and LXF token, you also have the chance to win our LuxFi Membership levels!
Diamond - Gold - Silver - Crystal, find more on our membership here: https://luxfiofficial.medium.com/your-path-to-luxfi-luxury-luxfi-membership-629c0614818c
Our team and myself are always here to listen to our Community feedbacks and answer all your questions, more particularly on our Telegram chat. Every Friday at 1 PM UTC, we organize “LuxFiDay” on our Telegram chat, where I recap all the highlights of the moment and answer all your questions!
Thank you so much for watching this AMA and follow us on our social media for any updates!
We are looking forward seeing our launchpad, IDO and launch of the NFT marketplace in those following months before the end of this year!
Follow Us On Our Various Social Media Communities For More Update;
Telegram Official Group: https://t.me/Luxfiofficial
Telegram Announcement Channel: https://t.me/luxfinews
And if you want to participate in our NFT Auction & Lucky Draw before this Sunday 10th
FOLLOW AMA LOVERS CLUB ON:
Telegram Group: https://t.me/amaloversclub
Telegram Channel: https://t.me/amaloversclub_channel