DareNFT AMA Recap

31 Oct 202118:20

AMA

DareNFT AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Duke Nguyen, CEO DareNFT

Duke Nguyen

Hi Myko. It's also our pleasure to be here with all the CryptoDiffer today to share about DareNFT

Myko (CryptoDiffer)

Welcome Duke, thank you for taking your time today!
Our team has prepared some questions for you to start with

Duke Nguyen

Sure!

Myko (CryptoDiffer)

okie, let's start with introduction
Q1: Can you introduce yourself to our community?

Duke Nguyen

Sure Myko
so my name is Duke Nguyen. i was a software engineer as well as a tech researcher. More importantly, i was born as a startup DNA and to be a founder.
a bit more about my background, i studied at Hanoi University of Science and Technology back in my university times. With excellent academic performance, I got a scholarship from the Japanese government to study at Keio University in Japan. I graduated with the award of the best thesis and an excellent bachelor in computer quantum computing.
After coming back to Vietnam, I worked as an R&D engineer at Topica, the largest Edtech company in Vietnam. I started my entrepreneurship career with the role of co-founder & COO at OWS, a software outsourcing provider who is strong at video conferencing. After exiting OWS, I found another company named Ora Tech which runs an online learning platform.
I joined crypto since 2017 as a researcher and investor. In 2021, I along with my old-time friends in crypto who are all ex-staff of many leading crypto projects found DareNFT as the universal NFT 2.0 protocol for digital assets.
done

Myko (CryptoDiffer)

thanks for the answer!
let's continue with project description
Q2: Can you introduce DareNFT to us?

Duke Nguyen

sure, this question is my favorite
first of all, I'd like to share an infographic briefly describing our project
DareNFT has developed a protocol allowing for a suite of products that solve the current issues of NFT 1.0 to further enhance the relationship between NFTs, relationship between NFTs’ owners and reduce the risk of NFT ownership to generate mutual benefits of the new NFTs exchanging models.
DareNFT’s first product is DarePlay, the GameFi platform including a blockchain gaming launchpad for non-NFT games, alongside a launching IGO service, Rent-to-Earn and Lease-to-Earn marketplaces for in-game item NFTs.
done

Myko (CryptoDiffer)

okie, superb

Duke Nguyen

thanks

Myko (CryptoDiffer)

Now let's take a question about the progress
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Duke Nguyen

Sure
First of all please look at our roadmap right here
As of for the fundraising, we have finished the strategic sale and in the process of closing the private sale round. Our IDO is just around the corner. We will do the IDO on October 12th and 13th anticipatedly. The IDO will be multi-launchpad and we have announced 2 IDO launchpad, which are BSCStation and KAIStarter backed by KardiaChain.
As for the product progress, we will launch the alpha version of DarePlay, which is our first bootstrap product. DarePlay will be the one-stop GameFi platform allowing for onboarding traditional games to blockchain and rental marketplace for nft games
in the future, we will go multi-chain as we will launch DareNFT protocol on many networks. And in Q4 2022, we will launch our own blockchain for the protocol
done

Cryptodiffer Community

You say that the co-ownership model and the digital asset derivatives model will give the DareNFT project a significant competitive advantage over other projects. What would those advantages be?

Duke Nguyen

1. It's a really good question about the special features of our project. Thank you @KASG95 for this question
So we see that if NFTs want to go mainstream, they need to be the reflection of assets in the real life. But assets in our real life actually has many types of relationship that current NFTs don't reflect. For example, the song B is sold and the author of B get revenue, how come the author of A get revenue also

Second example, A and B are 2 authors of a song X, and X is tokenized in the form of an NFT. If the NFT is sold, how can the revenue is split between A and B?
So DareNFT is the protocol allowing the derivative NFT and co-owner NFT model. We see that in the market right now, there's been an NFT product building the things like we're building
So we can say that we have the advantage of the first-mover

Cryptodiffer Community

Is it possible to print NFT with DNFT in NFT 2.0 Protocol? What is the advantage of locking newly minted NFTs to 2.0? How does locking reduce the circulating DNFT supply?

Duke Nguyen

2. Yes
please look at the solution DareNFT provides
So DareNFT Protocol (NFT 2.0) will allow for
- Owners receive royaltues from derivative NFT's revenue
- Supports co-owner model
- Supports multi-chain rental NFT model
- most importantly, it's compatible to existing nft 1.0
So regarding your question, it's possible to print NFT 2.0 from current NFTs. You just need to bring your NFT to DareNFT protocol, lock it in our contract

Cryptodiffer Community

DareNFT is the 1st in Rent-to-earn and Lease-to-earn section for NFT games.

What is Rent-to-earn and Lease-to-earn?

Duke Nguyen

3. That's the most amazing question so far!
So rent-to-earn and lease-to-earn is the reflection of an really familiar activity in the real life: renting & leasing
You have your unused NFTs and you want to lease them out to earn passive income. In the meantime, there are other people who want rent the NFT because they can't afford buying the brand new. So rent-to-earn and least-to-earn NFT help them to solve their problems
Let me explain how DareNFT will make NFT renting happen and explain later on why it's the best method compared to others that are currently working out there,
So let's imagine we have the leaser A, he has and NFT X and he wants to lease X to someone to get passive income. We also have the rentor B, he doesn't have a large budget to start playing the game, which means he can't afford buying new NFT items like X
So B finds A on DareNFT and they can have a deal here. A will specify 2 things (1) the cost for renting he want to charge B and (2) the number of days he wants X to be leased out
B will need to deposit Fungible Tokens (BTC, ETH, USDT, etc) into our pool with the total value equal to the cost for renting A will also need to deposit X into the pool.
Once these 2 things happen, B will receive an NFT X', which the 'map NFT' of X. X' can be used in the NFT game and when the term ends, X' will automatically disappear. Also A will receive the funds B deposited into the pool. X' is created by the smart contract created by DareNFT and under the permission of the NFT game issuing X in the first place
Why this way is the best method for NFT renting at the moment? It's because we can't do renting & leasing NFT as we do with Fungible tokens. With FTs, we will force the tenants to deposit a 'collateral' also in FTs. But with NFT, it's really hard to price an NFT, so it would also make it hard for tenants to know how much they should deposit as the collateral
So we believe that our method can solve the problems of current NFT renting methods.
done

Cryptodiffer Community

🚀🚀🚀What projects will be launched for non-NFT games on your first product, DarePlay? According to which criteria will you choose the projects to be initiated? What are your expectations in both Vitenam and the global market?

Duke Nguyen

4. I like this question because it give me chances to talk about DarePlay, our first bootstrap product
So as you guys all know, DareNFT is a protocol for NFT 2.0-based applications. 'Protocol' is a concept that is not really easy to understand for end-users. So our plan is to build a bootstrap product whose concept is easy for users to understand and they can also use on a daily basis. We focus on blockchain gaming and will launch DarePlay as a GameFi platform for non-NFT-games and NFT games.
so our current practical product in use is merely DarePlay. what is DarePlay anyway? To put in simple, DarePlay bring benefits for both non-nft-games and nft games.
For non-nft-games, they want to join blockchain and become nft games. So dareplay prodives
- NFTfying in-game items and turn them into NFTs
- IGO launchpad services, so that new NFT games can do the public offerings and launch their tokens to the public
- NFT marketplace: new NFT games can do their primary sales of their NFTs
For nft games, we provide them an P2P exchange and especially rent-to-earn & lease-to-earn marketplace. Users of NFT games can bring their NFTs to DarePlay, list them up, then exchange the NFTs to others, or lease the NFTs to those who want to rent the NFTs
In the future, we won't stop there. NFT game is just a trend in the market. If the trend switches, we can easily adapt because DareNFT is a protocol for many NFT-based applications to be built on, not just DarePlay. We will also have NFT Cloud Service or NFT as a Service allowing non-blockchain applications to mint their NFTs based on their assets, contents, etc, in just a matter of minutes. We thing that could also be a very strong usecase of DareNFT
done

Cryptodiffer Community

Ambassadors play a very important role in every project. Do DareNFT have an ambassador plan? If so, how can I be one of them?

Duke Nguyen

4, that's a really good question. It also opens new ideas for me personally in how to help DareNFT gain more exposure and acquire users in the future. Will definitely transfer my thoughts to the marketing plan. So thank you!
To answer your question, first of all, as for the ambassador programme, we don't have it now but will surely open it the future. Currently we have a global community, also local communities such as Vietnamese community, Chinese community, Japanese community, Indonesian community.
So ambassadors will be the ones we need to spread out about DareNFT in all local market we are appearing at. Please keep an eye on our global channel @darenft_official as we will update all the news about new programmes there
Second of all, as for our plan to make our project be aware all over the place, we will make sure 2 things
(1) We transfer the right messages, which are aligned with the product we're building. This is also what we are doing on our medium page https://medium.com/darenft. We've been writing a lot of content about DareNFT, DarePlay and their features.
(2) We talk to the right people, By doing that. we've been partnering with top-tier crypto communities in Vietnam and global market. They will help spreading the words about DareNFT. And actually at the moment, our project is being talked about constantly in many communities and CryptoDiffer is also one of them

Cryptodiffer Community

🔥 🔥🔥 🔥

I read that DareNFT's has been listed on Coinmarketcap and I am interested in participating in the project. Where can I get details aboutthe project idea, $DNFT utility, tokenomics, founding team, and IDO information ?

Duke Nguyen

5. I love this question Lekside
Yes, you're right. Weve been listed on Coinmarketcap https://t.me/darenft_official/148. You can check it out
For all these information, you can join our social channels and get all the information https://t.me/darenft_official. For the tokenomics and IDO, I can give you the information here
Tokenomics:
- Total token: 100B $DNFT
- Initial circulating supply: 2.38%
- Initial market cap: $475,000

IDO will be on October 12th and 13th. We have announced the launch on 2 launchpads which are BSC Station and KAIStarter. We will announce the last tier-1 launchpad in the upcoming time!
done

Cryptodiffer Community

🟢 Could you please detail what will be the most important use cases of $DFNT token inside DareNFT? What are the things users need it for? Do you have any mechanism to motivate their purchase?

Duke Nguyen

6. Sure
it's also a very in-depth question. It proves that you have spent time to dive in our project. so thank you!
First off, please look at the infrastructure of DareNFT including the DAO as the base layer, the middleman layer, and the NFT2.0-based application layer
So the 3rd layer or the surface layer will be the place for NFT-based applications. They are applications that mint and use NFT 2.0. The service fee of these application will be in our token $DNFT. And the service fees will also be poured to the revenue of the base layer - the DAO. From there the revenue DAO earned will be distributed to 5 sources
(1) (2) pay rewards for liquidity providers & stakers of DNFT
(3) Discount for users using NFT-based applications or NFT as a service
(4) Burn, so that reduce the circulating supply
(5) Reserve for sudden incidents
So$DNFT will be the fuel for all the DAO
As for the surface layer, users using the NFT2.0-based applications will need to pay the transaction fees via DNFT. So DNFT will play the role of the currency fee in the 3rd layer

Cryptodiffer Community

Kindly provide the community with details of the upcoming DarePlay IDO? The schedule and allocation for each tiers ? Are you using a First Come First Serve system or Guaranteed allocation ?

Duke Nguyen

7. Love this question. A very partical one
So our IDO will be on October 12th & 13th. It is just around the corner!
BSC Station and KAIStarter will be 2 first launchpad. KAIStarter is also the new launchpad that we announced today. Whitelist is openning now and you can join now to claim a slot in our IDO on KAIStartet https://twitter.com/darenft/status/1444860277359628294
Our plan is to do the multi-launchpad IDO on many tier-1 platforms. 2 is not the number that we will stop at. A new, top-notch IDO launchpad will be released in the upcoming time, maybe just in a matter of days. We won't let you down!
As for the reason we did we choose these launchpads, it's because we choose the launchpad based on their reputations and the possibility that we can work closely with them in the future.
As for BSC Station, they are one of our early investors. They also helped us a lot in connecting with global KOLs. As for KAIStarter, we got invested by Kardia Ventures, the investment arm of Kardia Chain, the blockchain infrastructure on which KAIStarter is built on as a decentralized crowdfunding platform. The KardiaChain also has been working with us closely in product integration, which DarePlay and the NFT games incubated by Kardia Chain will be working together in the product aspect
done
8/ I'll talk more about DarePlay, so that you can be clear about our first product
To put in simple, DarePlay bring benefits for both non-nft-games and nft games.
For non-nft-games, they want to join blockchain and become nft games. So dareplay prodives
- NFTfying in-game items and turn them into NFTs
- IGO launchpad services, so that new NFT games can do the public offerings and launch their tokens to the public
- NFT marketplace: new NFT games can do their primary sales of their NFTs
For nft games, we provide them an P2P exchange and especially rent-to-earn & lease-to-earn marketplace. Users of NFT games can bring their NFTs to DarePlay, list them up, then exchange the NFTs to others, or lease the NFTs to those who want to rent the NFTs
done
9. Old but gold question!
I'd like to share the infographic briefly describing DareNFT here
So the 3 killer features of DareNFT that makes us ahead of our Competitors and Feel most Confident about are
- NFT 2.0, the new standard for NFT allowing for derivative NFT, co-owner NFT, and rental NFT model
- DarePlay, our first bootstrap product, which is a GameFi platform allowing for on-boarding non-NFT games via NFTfying in-game assets and IGO launchpad services and leasing-to-earn & rent-to-earn NFT model
- 3-layer business model: The surface layer (NFT 2.0-based applications) and middleman layer (NFT as a service) is similar to the killer business model of Amazon Web Services and Amazon marketplace. The base layer is a DAO controlled by the community
done

Cryptodiffer Community

How can we participate in your giveaways? What are the requirements or tasks to be completed?

Duke Nguyen

10. Hi we are currently running the airdrop of early supporters. You can check out the program here https://t.me/darenft_official/101
As for the tasks, you just need to join our social channels, invite your friends, and retweet the DareNFT introducing tweet
done
I think i have picked all the best questions from the community @mykocryptodiffer

Myko (CryptoDiffer)

Thanks, Duke, you’ve made it to the fullest)

Duke Nguyen

Thanks Myko

Myko (CryptoDiffer)

Chat is unmuted! Thanks everyone for good questions)

Duke Nguyen

superb AMA!
Thanks @mykocryptodiffer for being a great host!