Recapitulation of POLKAFANTASY PROJECT AMA event held at AMA LOVERS CLUB.
Date: Monday, 14th June, 2021
Time: 14:00 UTC
The POLKAFANTASY PROJECT team was represented by @AlexPolkaFantasy who judiciously shared with us detailed knowledge and information about POLKAFANTASY PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on PolkaFantasy?
ANS: Thanks. My pleasure to give a brief introduction of myself and the team.
I am Alex, the CEO & founder of PolkaFantasy. I was also the director and COO of a blockchain consultancy firm previously. I started my career as a trader in one of the top trading firms in Japan. I had my own software development studio and therefore I came across blockchain in quite an early stage. I am a tech enthusiast. In my start-up era, fortunately my studio was internationally awarded twice. I am always faciliated by blockchain potential and thus have a vision of making something unique in this space. Therefore, when I met my current team, I feel I am the luckiest person in the world because I belive this is the team that can make the project successful.
All of us are from the profession we are best at. Our tech director has literally 10 years experience in blockchain; our advisory comprises veterans from AAA stuidos in Japan. They were directors and C-suite people, and therefore have a very strong connection in the Japanese ACG (Animation, Comic & Game) spaces that we are working on. With this strong formation in both blockchain, publishing & game industries, our team really look forward to bringing a new experience to NFT lovers in near future.
Q2: Can you introduce PolkaFantasy, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: PolkaFantasy is the first-ever Japanese-themed NFTs cross-chain marketplace.
Our premise is simple: to build the project with the best user experience, just like what you expect from Japan with one of the best hospitality in the world.
The problems we are seeing these days are:
1. Many marketplaces are built on Ethereum network which entails high gas fee. This is not cost-efficient to both creators and users.
2. NFT utilities are still confined to digital arts. It's fine in its own right but we believe NFTs can do much more beyond arts.
3. No NFT markeplace exists to serve the huge communities of Japanese ACG lovers.
4. There are many awesome crypto wallets, but none is built for NFT from scratch.
With the issues above in mind, we decided to built a cross-chain solution ultimately and leverage on the best part of various blockchains.
Q3: On what network is PolkaFantasy built?
ANS: We will initially built on Ethereum and BSC. Since they are more established ones and we can leverage on many existing infrastructure and optimize the marketplace.
But we have plan to build on more networks to make it robust.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: We are happy to share that our NFT wallet is almost complete. Our team is optimizing it and hopfully it will see the light very soon.
In June, we will also announce our first NFT collaboration. This will be something very unique in this space and hopfully people will get excited by it.
As for our marketplace, we will roll out the first version in Q3 2021. In PolkaFantasy, we believe quality matters most. Therefore we really want to take time to build it, in order to make sure it's something truly inspring and enjoyable to use.
Q5: Can you briefly describe your PARTNERSHIPS so far?
ANS: We love to talk about partnership. It's always great to work with amazing people in the industry and bring the joys to our beloved community.
So far we have annouced partnership with
- Immutable X
- NFTY LABS
- Roseon Finance
All of them are excellent projects and we look forward to bringing more value to users in our ecosystem via our combined know-how.
One core principle that we always look for partnership is the synergy that maximizes the value for our users.
Similar to 'Customer First' principle (efficiently implemented in Japan), our team at PolkaFantasy truly believes that community is always the ultimate driving force to project's success. Therefore, we are constantly looking for partnership that will delight and inspire community.
Therefore, we would love to hear community voice and suggestion about it too. Thank you.
Q6: Fantastic, NetVRK was here sometimes ago. What kind of partnership relationship exist between PolkaFantasy and NetVRK?
ANS: NetVRk is an awesome project. We love their team so much.
In our partnership, NetVRk will have PolkaFantasy virtual headquarter in their space. This is something very amazing because it will allow our community members to experience the world of PolkaFantasy in a very different environment and style.
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $XP Token?
ANS: Our team is strong believers in blockchain, thus true utilies of tokens matter to us a lot. That's why our team has been working hard to bring utilies for the benefits of our beloved users.
$XP is a true governance token. Some examples of its usage:
1. Vote your favorite artists to give them more exposure.
2. Get discount (sometimes big discount!) of NFTs with $XP
3. As a reward to platform users.
These above only illustrate a tip of iceberg. In fact, we have a lot of utilities of $XP up the sleeves. Our team truly believe that they will open a new horizon of true governance token for NFT marketplace. And we think you will love them!
2nd Segment: LIVE Questions
Q1: 1. How will the PolkaFantasy NFT marketplace be of advantage, benefit and importance to the following set of users:
C. Crypto enthusiasts
2. How easy will it be for users to trade NFTs on the PolkaFantasy platform?
ANS: User experience is a core part in PolkaFantasy. In other words, we want to offer something that are missing in other marketplaces (though we love them!).
In a successful marketplace, DISCOVER & BEING DISCOVERED matter. That means, instead of showing a bunch of NFTs and waiting users to come in, we will implement system that allows artists to be discvoerable if users love them.
On the other hand, people can easily discover the NFTs they love and care about, with our governance model on the marketplace.
Cross-chain technology will also allow creators to 'teleport' their NFTs between different blockchains. This gives flexibility to creators and buyers without confining them to any closed ecosystem.
As I mentioned before, we really focus on user experience, thus our marketplace will be built with ease-to-use principle in mind. We will disclose more information when time comes.
Q2: Something that caught my attention when I was reading about PolkaFantasy is that you say that thanks to your platform, P2P trading will be easier than ever. What exactly is it that will make this type of trading so easy to carry out on your platform?
ANS: We believe blockchain should be easy to use. Otherwise mass adoptin will never occur.
WIth this in mind, we really focus on user experience when we develop different products.
One product that we will roll out soon is NFT-specific wallet. This wallet is built with NFT users in mind, and therefore we believe P2P trading will be an important part of this wallet.
Imagine, just by sending/posting your QR codes to any users, they can buy an NFT from you. This feature alone will make NFT trading more convenient and active.
I hope this illustrates our philosophy in PolkaFantasy. We believe projects should be built around community, for community and with community. Therefore, community members are Heroes in PolkaFantasy, and PolkaFantasy can only be successful with your support.
Q3: 🎮🎮🎮 From my own research, PolkaFantasy is inspired by Japanese philosophy alsothis project is Japanese NFT market place. So my question is does PolkaFantasy intention of reaching other people who are not particularly interested in the Japanese comics, animation, and game or is your project only targeting people who is interested in Japanese comics, animation, and games (hikikomori) ?
ANS: This is an excellent question that I love to address.
When our team talked about 'Japanese-themed', most people asked whether PolkaFantasy is curated platform.
Our answer is: PolkaFantasy is a specialized open platform.
I mean, in theory, it is agnostic and people can create the NFTs they love. However, community can vote for their favorite NFTs and artists in long run. This creates a community-centric marketplace which will eventually gear towards the Japanese ACG (animation, comic, game) culture that community loves. At the same time, it also welcome other type of NFTs. Eventually, it will be a platform for anyone who love amazing ACG cultures, and any NFTs and users can find their places.
Q4: Can I stake just about any NFT to earn XP or NFTs found in your marketplace? Also, is staking NFTs the only means of getting XP (can XP be bought instead of farmed?)?
ANS: We will release special version of NFT for people to stake in order to gain $XP rewards, as well as NFTs in some occassions.
At the same time, we are going to partner with other projects to release NFTs with customized utilities. After all, we believe NFTs should not only confined to arts.
$XP will be available in the market in the future. Stay tuned for more information!
Q5: 📌Many new projects made a good impression at first but were suddenly abandoned. My question is, how will you manage the project and token to gain a place in the market and become a best token in the blockchain world?
ANS: As a member in many other blockchain communities, I always have the same question. So, thanks for asking it because I know this matters much.
First of all, passion matters in project. Many times we saw projects being abandoned, it's often because people chases rabbits without understanding what drave them to start a project in the first place.
For many of us, there are always too much to do, but too little time to do them well. Thus, people often do not see result and give up.
Achievement requires determination; determination is driven by passion.
Though I cannot make empty promise that we will become one of the best tokens in the blockchain world, I can say for sure that our team has passion about Japanese ACG culture and blockchain. And this passion will surely drive us to become better everyday.
Q6: 1. 95% of crypro project use token tickers that was formed from the name of the project (for example Ethereum uses ETH), but I consider your case different and unique. So, what is the reason for using the Token ticker $XP for the PolkerFantansy project?
2. On your website, a sub-theme follows after the POLKAFANTASY title; "The Chain of Realms". What does that phrase represent and what inspired it?
ANS: 1. $XP stands for Experience Point, which you found in most RPG games. As a gamer, I found it great to have a name representing what gamers love and know.
2. The Chain of Realms implies that we are cross-chain.
Q7: Since the hipe of NFT many companies creating NFT MARKETPLACE. But the problem is most of them are quite difficult to use and they also can't offer much facilities that people want. Do you think PolkaFantasy can solve this kind of problem and offer a easy to use NFT PLATFORM?
ANS: A simple answer is: yes, because user experience matters much to us.
Q8: I learnd that PolkaFantasy is an NFT marketplace for authentic Japanese animation, comics and game (ACG) culture. But NFT marketplace is growing so fast. Many big companies getting involved with it and launching NFT marketplace where we can find variety of NFT from different country. Even binance also launching NFT PLATFORM. So how do you think PolkaFantasy can get the popularity by compete this kind of platform with only JAPANESE NFT?
ANS: That's an interesting question, albeit hard to answer :p
To make a long answer short, I think the NFT space is still a blue ocean. There are too much waiting for us to explore and do. Therefore, we love competition and think other projects surely will have something inspiring us and make us better.
With a very strong connection in Japan and industrial backgrounds, we are confident we will deliver and make community happy.
There are more to see in PolkaFantasy! Stay tuned!
We will annouce more exciting news in near future! Thanks for having me again! You guys are super awesome indeed!
Let's together build PolkaFantasy. With your support, we will all be Heroes in our own in this amazing space!
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