NFTrade AMA Recap

15 Oct 202100:53

AMA

NFTrade AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Ori Levi, CEO

Harrison Seletsky, Head of Communications

Harrison Seletsky

Thanks for having us @mykocryptodiffer !

Ori Levi

Hey everyone

Myko (CryptoDiffer)

Welcome Ori and Harrison, thank you for taking your time today!
Let's start with some introductory questions
Q1: Can you introduce yourself to our community?

Ori Levi

Sure, I'll start
My name is Ori Levi, and I am the founder and CEO of NFTrade. To start, I have been a Bitcoiner and cryptocurrency enthusiast since I first discovered blockchain technology in 2012.
I have a background in digital marketing, with over 15 years of experience in PR, SEO, and content marketing.
Designing and building projects from ideation to completion has always been my driver, and since entering this space, I’ve been advising top blockchain projects for the better half of a decade.
We built NFTrade from the ground up! It started with the idea of introducing p2p swaps for gaming-based NFTs, and has turned into a multi-chain/cross-chain NFT marketplace focused on the entire NFT ecosystem.
done

Myko (CryptoDiffer)

thanks, Ori

Harrison Seletsky

Hey CryptoDiffer community, my name is Harrison Seletsky; I’m the Head of Comm for NFTrade.
I have been involved in the cryptoverse since late 2016, and have been working full time in this industry since 2017. I have a background in accounting and came into the crypto market from the financial side, but I have always enjoyed writing, marketing, and content creation, so I combined those two skills to bring as much crypto-based knowledge to the public as possible. I’ve worked with a variety of projects collectively worth billions, and have written for crypto news outlets such as Cryptimi and BeInCrypto before moving to client-side marketing.
done

Myko (CryptoDiffer)

great, let's now continue with the introduction of the project itself
Q2: Can you introduce NFTrade to us?

Ori Levi

NFTrade is the first cross-chain and blockchain-agnostic NFT platform.
We are an aggregator of all NFT marketplaces and host the complete NFT lifecycle, allowing anyone to seamlessly create, buy, sell, swap, farm, and leverage NFTs across different blockchains.
Using NFTrade, anyone can gain access to the entirety of their NFT, unlocking the total value of the NFT market.
done

Myko (CryptoDiffer)

okie, the following question is about the current progress
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Ori Levi

One of our most significant milestones is the live accessibility of our multi-chain marketplace, but this is just a starting point.
We are now the #1 NFT marketplace on Polygon and Avalanche according to DappRadar (although we’re still behind OpenSea in terms of Polygon-based volume)
but we need to continue to grow and expand to reach #1 on all chains
We are backed by some of the biggest names in the NFT space, and have many excellent partnerships already established and coming up.
Soon, we will be launching NFT farms for two of the top 20 cryptocurrencies by market cap, which should bring a lot more eyes to NFTrade. As far as our roadmap goes, we have a lot planned. Check out https://nftrade.com/#roadmap to see our progress and goal
As far as upcoming plans - we are a technology-focused organization, so it’s important for us to keep building and expanding. Many NFT marketplaces focus on drops from specific celebrities or artists, but we do not see this as a viable long-term strategy, so we’re focusing on introducing the best and most innovative features available within the NFT market.
We plan to integrate more chains (Solana, Wax, Flow, and Cardano, Polkadot), add new features (many remain unannounced, but will fundamentally change user NFT transactions), and grow our community through value-adding implementations.
done :)

Myko (CryptoDiffer)

Thanks for an answer - next question logically follows the topic
Q4. Can you explain to us, what makes NFTrade different from other NFT marketplaces?

Ori Levi

I'll let @rissyquix take that

Harrison Seletsky

sure
Unlike many of our competitors who focus on one chain or one aspect of the NFT marketplace (higher-end art, gaming, pfp collections, etc) we are a multi-chain (and soon-to-be cross-chain) NFT aggregator focusing on the entirety of the NFT lifecycle. One of our main differentiating features is multi-chain accessibility.

Currently, we are live on Ethereum, Polygon, BSC, and Avalanche mainnets, and have received a grant from Solana to integrate their network. We will also be adding relevant NFT chains such as Wax, Flow, and Cardano in the future. We are the #1 NFT marketplace on Avalanche, #2 on Polygon (only behind OpenSea), and are continuing to expand.
Soon, users will also be able to transact NFTs across different native chains, opening up the liquidity of the entire NFT market.
We also have other unique features unavailable anywhere else, such as NFT farming, multi-chain NFT aggregation, and p2p swapping.

NFT farming is a way for project development teams to reward native token holders, such as the Yield Protocol farm that we just launched less than an hour ago! Users can stake native tokens to earn exclusive NFT rewards. This locks up token liquidity while simultaneously rewarding token holders, presenting a win-win scenario.
I touched on aggregation above, but essentially, we want to be an Open Sea on steroids. They currently aggregate all NFTs on Ethereum, and we want to accomplish this goal for the entire NFT. For now, we aggregate on Ethereum, BSC, Polygon, and Avalanche, but we will continue to expand.
We’ve also created this competitive landscape chart to visually highlight the differences between NFTrade and other currently available NFT marketplaces.

done

Cryptodiffer Community

Just as Amazon adds all imaginable products to its platform, NFTrade wants to do something similar using NFTs but how simple will its interface be for users and will they have some kind of 24/7 support to serve the community with their problems?

Harrison Seletsky

our user interface is super simple and accessible. We're live on 4 mainnets at app.nftrade.com, so go check it out for yourself! We already offer 24/7 support through our telegram channel

Cryptodiffer Community

Seeing that a lot of platforms have hosted NFT marketplace offering a variety of services and everyday new projects are coming up to offer NFTs services. Can you tell me the innovation or improvement that NFTrade bringing to NFTs. How can you ensure that users patronise @NFTrade so that the platform would really live up to its potentials ?

Ori Levi

I think we laid out most of these in our introduction answers, but to give you a short answer: NFT Swaps, Cross-chain NFT solutions and NFT Farming, are the easiest points to look at.

Cryptodiffer Community

Can you explain more details about NFT farming? What is the minimum amount that you allow to farm on the platform?

Harrison Seletsky

NFT farm is a one sided staking mechanism where users can put their idle tokens to work! By staking tokens, users earn exclusive collectible or utility-based NFTs. There is no set minimum, as everything is determined by the individual project running the farm

Cryptodiffer Community

@rissyquix What utility or usecases does the native token have in your ecosystem?

Harrison Seletsky

our native token, $NFTD, will give users governance rights over our decentralized NFT marketplace, a reduction in transaction fees, the ability to earn exclusive NFTs via $NFTD NFT farming, and more that is not yet announced

Cryptodiffer Community

❇️ I was very struck by your comment that the NFTrade community will enjoy exclusive access to selected token sales for top projects. Can you tell us more about this? What is required to have the ability to access these events?

Ori Levi

We don't have the exact numbers yet. however, staking the $NFTD tokens is what will grant you such access

Cryptodiffer Community

At NFTrade, we know that users can create, buy, sell, trade, and farm NFTs. But how much does it cost to buy, sell or exchange these NFTs , Is it really beneficial to use NFTrade for users who are always using NFT?

Harrison Seletsky

the cost depends on the chain. We do not charge transaction fees, but gas gees vary. On Ethereum, gas is expensive, on Polygon or Avac, it can be only a few cents. With NFTrade you can access all of these options in a single place

Cryptodiffer Community

Most NFT marketplaces charge transaction fees for using their platform, however, I'm quite surprised to see that Nftrade charges ZERO fees. Did you do that to incentivize platform usage or what do you aim to achieve? Secondly, will this be sustainable on the long run or its just a temporary thing? As a community member I would like to vote for the platform to implement transaction fees, Will it be possible?

Ori Levi

Yeah, we definitely did it in order to incentivize platform usage. this is time-limited, we guaranteed 6 months of NO FEES since our launch in June. so 3 more months (at least) to go. We will eventually introduce fees, and our token holders will benefit from them too.

Cryptodiffer Community

You point out that with NFTrade It will be possible to unlock the total value of the NFT market, but really what is that "total value" existing in these markets, that can only be used in NFTrade?

Harrison Seletsky

currently, NFT markets are segregated by non-interoperable blockchains. This means if an amazing collection launches on AVAX, it might not receive the same amount of attention and liquidity injection than if it launched on Ethereum. So by bringing the total value, we mean that all of this segregated liquidity will be accessible and usable across all chains, all from a single marketplace

Cryptodiffer Community

Is there any special skills or knowledge required to be able use your platform to create NFTs, can your users create NFTs without any special knowledge?
@phirex
@rissyquix

Ori Levi

Its as easy as creating a profile on a social network, pick a name, description, image, and a couple other fields, and your NFT is deployed into the blockchain, forever.

Cryptodiffer Community

@rissyquix Hi, does your platform have sort of insurance coverage into your platform?

Harrison Seletsky

this is something we're exploring, but besides for NFT farming, not many assets are actually stored within our smart contracts

Cryptodiffer Community

First of all congratulations on the grant you received from Polygon's developer support program, it is certainly a big step for NFTrade. That said, you say that in addition to monetary help you received technical assistance from the Polygon team, how exactly are you going to take advantage of these facilitations to develop the NFT's market in the Polygon ecosystem in the coming days? In other words, once the grant is received, what are the next steps?

Ori Levi

We are working to re-write all of our smart contracts. We also believe Polygon will become one of the most dominant blockchains in the NFT space.

Cryptodiffer Community

NFT Tarde entered an unusable token. Interact with fellow collectors, share stories...etc. Is it the same as Twitter or Facebook, these Social Features? When will the features launch?

Ori Levi

In the beginning we will allow some more basic interactions with NFTs, instead of just "favorite" an NFT, we want users to show some other emotions like "love", "angry", etc...
Also we are going to add some ways for our users to interact with eachother and not just "accept" or "decline" offers.
I think we're done...
at least I am. @rissyquix ?

Harrison Seletsky

me too

Myko (CryptoDiffer)

Okie
Thank you guys for coming

Ori Levi

Some great questions
Thank you guys for having us

Harrison Seletsky

Thanks a lot! Feel free to follow our social channels for all of our latest updates!

We're preparing to hold our IDO starting on the 22nd, so come ask us more questions in our telegram group if you have 🙂
NFTrade Telegram: @nftrade
NFTrade Twitter: https://twitter.com/NFTradeOfficial