Recapitulation of PLUTUS PROJECT AMA event held at AMA LOVERS CLUB.
Date: Sunday, 25th April, 2021
Time: 12:00 UTC
The PLUTUS PROJECT team was represented by @Giantduck64 who judiciously shared with us detailed knowledge and information about PLUTUS PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on PLUTUS?
ANS: Hello 👋 my name is Majd, I am the founder and lead developer at Plutus. I initially got into the crypto space in 2019 as an investor however quickly learned about the amazing technical side of the space. As a developer, i was really interested in blockchain and developing on Ethereum. I also play a lot of video games and ever since NFTs started to gain more traction I recognize that gaming would be the best use case for NFTs. Thats when I decided that I would launch Plutus.
My team also includes Maxim and Maaheen. Maxim is an early crypto investor and has several years of experience managing private investments. Additionally, he started a program that aims to educate students about blockchain and the technical side of the cryptocurrency space. Maaheen, our director of marketing, has four years of marketing and business experience and runs a marketing consulting company. My team and I are super excited to be working with all the amazing people in the crypto space and are very excited to be launching Plutus!
Q2: Can you introduce PLUTUS, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Yes, that is a great question, so Plutus is a platform for minting, trading and integrating NFTs. Its primary focus is on in-game items and ensuring that gamers have the opportunity to actually own their items in a decentralized manner.
Plutus solves several problems; firstly it takes the control of in-game items out of a centralized entity and gives it to the gamers, secondly, It ensures that there is an easy way to transact in-game items which removes the need for shady third party marketplaces that exist for centralized in-game items today. Finally, it provides and easy way for game developers to introduce a virtual economy into their game without the need to build one from scratch.
Plutus brings a few competitive advantages to the table that differentiate us from our competitors. The first one Is Smart NFTs. Smart NFTs are NFTs with properties that can change. This feature opens the door for a lot of new potential use cases with NFTs. The second competitive advantage that Plutus brings are loot boxes, this is something which we believe is critical to the gaming space! Finally we also provide a support simple and easy to use API which makes integrating Plutus very easy.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our top mile stones we have achieved are the launch of our MVP. Just a few days ago we launched our Plutus marketplace, which is an NFT minting and truncating platform. Users can already make, buy and sell NFTs on our market.
Our target mile stones are to have a successful launch on Oxbull on the 29th as well as a successful launch on Pancake swap right after. We are also aiming to getting listed on Coingecko and coin market cap in the days that proceed our launch. In terms of development, we are hoping to release our loot box functionality in the not so distant future.
Our roadmap consists of 5 phases; the launch, which is what we are currently doing. This includes the launch of our token as well as marketing and public awareness. This phase also includes the development and launch of our MVP which we have completed. The second stage is the building of a play ground which is where we continue to develop and make strides in our MVP such as introducing loot boxes and an api. The third phase is the launch of Smart NFTs, and the continuation of marketing. Stage 4 and 5 consist of further product development, adoption and marketing.
Also, the full roadmap can be found here: https://www.plutusapp.org/#roadmap
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: So far we are partnered with Oxbull as they are launching our token. Oxbull has launched many great projects and we are looking forward to being the next major project that they launch.
Additionally, we are in communication with a video game project called crypto blades and plan to potentially have them integrate Plutus into their video game. Crypto blades is an NFT driven story based video game with unique visuals and art style.
This is crypto blades by the way: https://www.cryptoblades.io/
they were also an oxbull launch
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the $PLU Token?
ANS: Sure, Plutus is a BEP20 token built on the Binance smart chain. It has a total supply of 1 billion.
The distribution is as follows:
15% Operation & dev
The vesting process includes a 3 month locking period of all of our tokens excluding the operation and development tokens which follow a 1 month locking period. Afterwards 10% of our tokens will be released every month.
The listing price for $PLU will be $0.00086, the circulating supply on day 1 will be 175 million and the market cap on day 1, assuming a 100% successful IDO will be $150,500!
The purpose of our token is to be used on the marketplace for being and selling NFTs. Additionally, we hope to add governance such that PLU holders will be able to dictate the future of Plutus.
Additionally, all the info about our tokenomics can be found here: https://www.plutusapp.org/docs/tokenomics
2nd Segment: LIVE Questions
Q1: How does Plutus Logo Represents the Project vision and Core concept it is built upon ?
ANS: Our logo is simple which represents the simplicity and ease of use of our platform.
Q2: What benefits does Gamers and Developers enjoy on Plutus platforms? Why should they choose you over existing solutions?
What efforts are you making in ensuring your NFTs can be traded on other marketplace aside yours?
ANS: Gamers get the benefit of knowing that they truly own theit in game items in a verifible decentralized way using Plutus as opposed to centralized platforms.
We are making efforts to have our platform be cross compatoble with other marketplaces.
Q4: What are the procedure to mint my game NFT on plutusapp NFT market place? Do you set price for minted NFT according the quality or the owner sets his own price?
ANS: You can easily mint an nft by clicking on create. The user that owns the nft can set a price upon listing.
Q5: Due to complete centralization and control of in-game items by game developers, gamers don't truly own their items and don't have the freedom to send, receive and trade the items. How will Plutus solve this big problem for gamers?
ANS: By making in game items as NFTs this solves the centralization problem and ensures that gamers are free todo whatever they want with their items
Plutus is built on the binance smart chain and users will be able to purchase it from Pancake swap after the listing.
Q6: Plutus is the next generation smart-gaming NFT platform.
What kind of game can play in Plutus platfrom and user can earn NFTs? How Plutus will get profit from here?
ANS: Any game can integrate with Plutus. The developers just have to utilize our API within thier game. Plutus will be profitable by charging a fee on the marketplace.
Q7: what are the critical problems Plutus solving that existing projects are not solving and what is the main competitive advantage it has?
ANS: Our main competitive advantage is our smart NFTs as well as our loot boxes. Additionally, i believe our easy to use market and api is an advantage.
Q8: What is total supply ? Are your plans to focus on market or to grow community?
ANS: Our total supply is 1B. We are definitely focused on growing our community.
Q9: Where does the revenue for Game Developers come from? And what is the purpose of APIs and SDKs on the Plutus ecosystem?
ANS: The game developers can earn revenue either by selling NFTs, loot boxes and they can even earn a small fee every time their item is traded.
Q10: Dose Plutus created and offline or online game? What multiple game did Plutus created or going to create that user can play?
ANS: Plutus is not focus on creating games, although we do want to launch a simple game later on. We want game developers to be the ones that intergate Plutus into their game while we perfect our NFT product.
I appreciate everyone showing up and asking great questions
i look forward to being in touch with everyone
and i hope everyone has an excellent rest of their day.
Follow Us On Our Various Social Media Communities For More Update;
✅ Website: https://www.plutusapp.org/
✅ Whitepaper: https://www.plutusapp.org/whitepaper.pdf
✅ Twitter: https://twitter.com/Plutus_Official
✅ Instagram: https://www.instagram.com/plutus.market/
✅ Telegram: https://t.me/plutusapp
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