03 Sep 202000:08
Nabox AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Anton Vasilyev, CIO
Anton VasilyevHey guys, pleasure to be here😊
Myko (CryptoDiffer)Welcome Anton, thank you for taking your time today!
Our team has prepared 3 questions for you to start with
Anton VasilyevThank you for giving this opportunity to directly speak with such a cool community 😏
Myko (CryptoDiffer)Superb! Than let's start with the introduction
Q1: Can you introduce yourself to our community?
Anton VasilyevSure, my name is Anton Vasilev, I'm the Chief Information Officer at NFT STARS. Together with the team, I work on the NFTS tokenomics model and make sure that we follow it. I’ve thought through the token distribution system and am now working on implementing it at its best.
Another big part of my job is building relationships with partners, including influencers and other projects and companies. We work on the corporate profile and its distribution across partner platforms like Xangle, centralized exchanges, etc. Lastly, I have an input into the development of NFT STARS’ functionality, its prototyping and presentation.
Myko (CryptoDiffer)Thank you for the answer! Now let's move on to the project itself)
Q2: Can you introduce NFT Stars to us?
Anton VasilyevLet's move on, it is much more interesting than me 😂😂😂
Briefly, NFT STARS is a multi-chain NFT marketplace open for artists, digital art lovers, investors and startup founders. We have a unique offering for all. But our main focus is on helping artists succeed in the NFT market: creators can enjoy Gas-free NFT minting, collaborate with other artists on a single piece with our collective NFT ownership service and host their own exhibitions in a personalized AR gallery.
Myko (CryptoDiffer)Super, thank you for the explanation! Our last question would be about how's the process going
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Anton VasilyevThe biggest milestone so far is the Initial DEX Offering of our NFTS token. We raised more than $4.2m and on some platforms, it took only 3 seconds to buy up all the public sale tokens! Another thing we're proud of is that we've formed more than 20 strategic partnerships. Companies and crypto investment funds like Avalanche, DAO Maker, Moonwhale Ventures, Cyberfi Samurai and many others believed in our vision and took part in the private token sale.
Now, we're working on fulfilling our great plans. The platform launch is scheduled for June 29th, followed by 2 celebrity drops we'll be announcing shortly. The next big things to come are the launch of the NFT radio station, the NFT pricing scanner, AR rooms for hosting exhibitions, fractional trading, along with several other products.
Myko (CryptoDiffer)Woah! Seems like you have big plans for the future!
Anton VasilyevWe definitely have 🙂
Cryptodiffer CommunityAs an Artist with multiple Art works, I tried selling ib several NFT platforms, without getting a buyer who wants to buy my Artwork for its value ? How does NFTstar1 ensure that Artworks are priced for its value, that Artists work are in line with buyers demand rather than just focusing on quantity ?
Anton VasilyevThanks for a very good questions! These days, most platforms focus on the quantity of NFTs sold rather than quality. This is what we want to change on our platform. NFT drops will be exclusive and we will use the maximum of our marketing capacities to promote artists.
In my opinion, the price of NFT, like any art, is primarily the background - the artist, his history, views, work history, and so on. This is what adds value. And we plan to work on this.
Cryptodiffer CommunityDo you plan to introduce some sort of token burn or buy back programs in the future or how do you intend to maintain the scarcity of the NFTS tokens?
Anton VasilyevYes, all fees generated by the platform will be used to buy back tokens and burn. After the launch and token implementation whole system will be shared
Cryptodiffer Community1. What mechanism has NFT STARS put in place to help ensure that Users coming to it platform will be able to appreciate the art and not be bombarded with an overwhelming number of works and names?
2. What criteria will you adopt in the selection of artists? As a community member will i have a right to select or vote for my favorite artists to be featured on the platform?
Anton Vasilyev1. All artists coming to the platform as well as their works will be verified by the community, according to quite general and fair rules. This is also how we will control the number of artists and works - only best will be on NFT Stars
2. Yes, you will have such a right! The whole list of rules will be available after the launch 😊
Cryptodiffer CommunityHello @carmelovas
What is your vision of the NFT market and products and what problems does marketplace aims to address that both artists and users face?
Anton VasilyevWith the recent boom of the NFT market, people are starting to forget that NFTs are not about speculation, the highest bid or a mere transaction. A NFT is an artistic creation, like any other physical art, it's a way for artists to express themselves, their thoughts and emotions and to share with the broader audience their outlook on life according to their experiences. We want to get back to that state of the NFT market using AR layers to allow people to create their own collectible rooms and galleries - and this is only one of the lots of unique functions of NFT Stars
Cryptodiffer Community✅ I have participated in many other AMAs with NFT projects and I have always asked if they have any mechanism to control the price an artist places on their artwork and all they respond is that this is subjective and not up to them.... I see that you are different and include the so called NFT Pricing Scanner which you mention will help artists identify the best average price for which they can sell their NFT. Can you explain how it works and what criteria this Scanner takes into account? What does it look at? The popularity of the designer? The style of the art?
Anton VasilyevGood question. If you decided to sell your NFT, and I asked you what its price is - most likely you would answer “I don’t know”, right? Because art has no objective criteria, as I said above - a lot of details determine the final price. And we want to help people step by step - and our NFT Pricing Scanner is the first step.
In the beginning, this is planned as a rather simple tool - we will allow people to upload the visual component of their NFT and then scan the current NFT platforms for the presence of similar (or already sold) ones - and their prices. And that will be the starting point for the artist.
Cryptodiffer CommunityAs we all know, market development can cost between 400-1 million dollars or more, many beginners are afraid to build their own platform, so how can beginners build their own platform without big costs?
Anton VasilyevVery good understanding of the market. We also know that there is a substantial demand for NFT marketplaces now. It's not just about large and shared platforms - different brands, fashion houses and many others also want their own marketplace. But the development cost is very high and the project will not be profitable.
We have a solution - and this is a white label. At a very reasonable price, anyone can get their own NTF marketplace running on our backend and having a completely customized frontend as they wish. This will 10 times+ lower the cost and provide all needed parties with their own NFT marketplace
Cryptodiffer CommunityNFT MARKETPLACE becoming so much competitive. Big companies like binance and others make their entry in this market. So It's becoming so much difficult to stand out. How NFT STARS aim to stand out in this competitive market? What makes you confident in NFT STARS?
Anton VasilyevThanks for the good question. There are a lot of huge players, and we are good friends with a lot of them. We are not planning to become their direct competitors, rather we are going to occupy our own niche - exclusive drops of celebrities and underrated artists. The main principle on which we build our work is that we are not for quantity, but for quality.
This 3 components are very important to investors, can you tell us about it. About SECURITY have you perform an AUDITS YET and why should we trust you?
Anton VasilyevYes, Certik has audited our Smart Contract and we have 99/100 result, which is one of the best of possible. You are absolutely right and security of our users is our main goal - and our platform is fully decentralized, no users data will be collected and smart contract is solid and safe, which is already confirmed by one of the most reliable and trusted audit company Certik
Cryptodiffer CommunityCongratulations on the raising of 4.2 million in your IDO, can you give us details of some of the big participants and how do you intend to use funds raised from the IDO ?
Anton VasilyevTo correct you, 4.2 million was raised by the full fundraising campaign and 0.5 millions was collected on IDO round. Other part was collected with partnerships. We have a lot of huge partners, like Avalanche, Chainlink, DAO Maker and a lot of others
Cryptodiffer CommunityNftStars have a project known as SpaceSwap which was on hype due to the Shadow Staking System. Can you briefly describe the Shadow Staking Staking and the relationship it has with the SpaceSwap project?
Anton VasilyevShadow Staking technology made Spacewap very famous in the Defi industry, after it was noticed by Curve, Ivan-on-Tech and many others.
In short, you all remember that there was a very urgent problem of theft of poolrug , another urgent problem was high transactions fees while staking LP tokens.
Shadow staking solved both problems - users did not have to stake their LP tokens anywhere, it was enough just to hold them on their own wallet, and our "scanner" once in a period of time confirmed the availability of LP tokens and accrued a reward for this. It was a simple and unique solution that was very much appreciated by entire industry and especially the Spacewap community.
Cryptodiffer CommunityWhere is the place where NFT Stars launches the launchpad, so can we still participate in the launchpad?
Anton VasilyevNo, the IDO is already finished
Cryptodiffer CommunityCan you talk more about your Initial NFT Offering, how does it work, how can I apply as a new startup with lot of ideas about NFTs and what do I stand to gain?
Anton VasilyevThis is going to be like a creative launchpad. You will need to mint and sell NFT tokens at Initial NFT offering, and NFT purchasers will be able to stake NFTs and get the reward - native tokens of your projects.
Reward will be distributed within a month or 3 months or any time you will decide - and this will be like an organic vesting period. And after all reward distribution will be over, Initial NFT Offering participants will be able to keep their NFT for themselves as a collectable or sell it on the secondary market.
Cryptodiffer CommunityI found another telegram group only for KOREA. Is that mean you guies more focused on KOREA market not focused on global market? What's your plan for global expansion?
Anton VasilyevWe have local groups for Korea, China, Vietnam and several others local communities. The reason why is because we take care of all communities, and some of them need to have the additional local group. But of course our aims are worldwide.
Cryptodiffer CommunityBeing a self funded project that needs marketing more than investment, NFT stars had private sales with the sole aim of gaining connections which is the most important thing in the crypto space.
How many connection has been made so far and is it probable that these would bring economic benefits to your ecosystem?
Anton VasilyevWe made more than 40 strategical partnerships with industry leaders of all kinds.
Cryptodiffer CommunityWhat is the prize to be won for participating in NFT Mania quest game and for users who are able to solve their riddles. How will you select winners from the multitude of participants without hassles ?
Anton Vasilyevyes, you can check nftmaniaquest.con - the first is already done and the whole price fund was $135,000
Cryptodiffer CommunityIF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell ?v
Anton VasilyevNot a financial advise, but we made the platform and the token itself very strong. NFTS has a lot of utilities, also using fees collected by the platform we are goind to buy tokens back - so we expect a very huge demand on NFTS tokens
Cryptodiffer CommunityWhat would you consider as your main advantages as a project over other similar projects within the blockchain space?
Anton VasilyevMost platforms are quite similar and copy each other, they not make any difference. With our exclusive celebrity drops and unique features like AR layer, Fractional Trading, Initial NFT offering and many others we are here to make things more interesting and innovative
Cryptodiffer CommunityDeFi projects that aim to be successful run the risk of opening up to a larger market. Do you plan to have more partnerships with projects similar to SKM? Will investors from all over the world be able to use the NFTS token series?
Anton VasilyevOf course, every day we are working on gaining new partnerships. One of the recent ones - Reef Finance partnership 💪💪 https://twitter.com/reefdefi/status/1408048001856200705?s=21
Cryptodiffer CommunityOne of the features of NFTS token is " A Reward token for the most active NFT STARS users." What is procedure of select active users in NFTS platform?
Anton VasilyevNFTS tokens will be distributed among all platform participants (buyers and sellers) proportionally to their activity
Cryptodiffer CommunityThe DEFI space is very young and is changing rapidly. My question is, how flexible are NFT Stars tools to adapt to changes in the DEFI crypto space?
Anton VasilyevWe have a very experienced team and as you could see, we are not making same things as others but trying to implement brand new unique features. Looks like we ourselves are trying to change the market. And of course we are ready to adopt on different market conditions
Cryptodiffer CommunityI am interested in the NFT Stars service of creating a white label so that we can have our own NFT marketplace. Two questions:
1- What is the cost of this, or is this a totally free service?
2- Do you just create it and that's it? Or do you have an advertising plan to help us boost the project?
Anton Vasilyev1. The cost will depend upon different factors, cuz from our side we will need to implement a lot of things in frontend. What I can tell is that it will be 10+ times lower than the price to develop marketplace from scratch.
2. Of course, we have a huge marketing plan, worldwide and for local markets as well. Stay tuned 😊
Cryptodiffer CommunityWhat do you think about NFT Fractionalization mechanism? Will NFT Stars lets us buy fractionalized NFTs?
Anton VasilyevI bet that soon it will be "must have" feature for all NFT Marketplaces - let's see 😂😂
Yes, this is one of NFT Stars features
Cryptodiffer CommunityI saw this tweet "NFTSTARS is a next generation cross-chain Australian NFT marketplace with an AR layer to make your #NFT experience even more unique " The word Australian here brings a bit of confusion. Is NFTSTAR only focused on Australian Arts just like we have some Platforms only focused on Japanese Art or you are a marketplace for all types of NFT ?
Anton VasilyevNo it is worldwide. I believe this is just a misunderstanding cuz NFTStars CEO and Founder Dan Khomenko is from Australia. I would also add that origin (for example, country) of the Art in general cases won't bring any additional value for us.
Cryptodiffer CommunityWho are your investors? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?
Anton VasilyevAll revenue made by the platform fees will be used to buyback the tokens. The team has it's own share and this is basically how we will earn as well. The bigger will be the cost - the more team will earn.
Cryptodiffer CommunityThere's an option on your platform that allows the users to split the NFTs and sell them in pieces, can you explain how is it done this NFT fractionalization? Can this small parts be traded seamlessly on all NFT markets? What are the advantages of this fractionalization?
Anton VasilyevBasically it is already done by Ethereum developers, in ERC-1155 protocol there is already a function of fractionalizing NFT. And we have this function implemented as well
Cryptodiffer CommunityFor Every Project in Market needs Adoption and awareness ! So, Whats the Future main plans NFT Stars planned for the Adoption/ Awareness ?
Anton VasilyevOne of our goals is to become a cross chain project, adding not only Binance Smart Chain version, but also Avalanche, Solana and many other blockchains, to be absolutely scalable and available for everyone
Cryptodiffer CommunityAs I'm still learning Crypto, NFTs and to understand more your project, can you explain, how NFT Stars will provide a creative environment for artists? How will you generate monthly royalty revenue these groundbreaking NFTs?
Anton VasilyevVery good question, artists will receive a royalty from all further sellings of their NFT - everything will be secured in smart contract
Cryptodiffer CommunityI love this project is placing importance on the community aspect. It’s something that I think is lacking in a lot of projects. How can us early investors really help NFT STARS grow before it launches? From providing liquidity to general participation, what different roles are there when it goes live?
Anton VasilyevShare our social media and information about us 😅😊 The main value of all projects is their communities - and this is what we are working on as well. Building a strong and healthy community is our very important goal
Cryptodiffer CommunityInvestors need to fully consider the market volatility we are in right now. With this in mind, who are which target group of audience are you after?
Anton VasilyevMostly, our target community is very wide - not only DeFi believers, but also NFT enthusiasts and fans and followers of all celebrities, who will have a drop at NFT Stars
Cryptodiffer CommunityWill NFT Stars only work on its marketplace or will have a bridge to other marketplaces?
Anton VasilyevNFT Stars works fully on self developed platform with personal backend as well as frontend
Myko (CryptoDiffer)Thanks for your time, Anton! Great to see how many questions you've answered
Anton VasilyevGuys, we need to wrap up!
Sorry that I didn't have a chance to answer all the questions - but I hope I could cover all topics. Stay tuned!
Myko (CryptoDiffer)Thank you to everyone who took part!
Chat is unmuted!