AMA with INV Community
We were so glad to join the AMA in INV Community on July 12th, which is our investor and important partner. There are 10 interesting questions from INV community! I will share the AMA conversation in the article for all the audiences to catch up on this event!
1. Host Flora @ INV: Please introduce yourself and your team. We’d like to start off with a short pitch for the people that haven’t yet heard of BankSea Finance. So tell us what BankSea is and what it does?
Speaker Terry @Banksea: Hey, guys. I am Terry, CMO of Banksea, and the Co-founder of Banksea as well.
We started up Banksea in the early of last year. We currently have twelve team members in US and China. Including AI algorithm engineers, contract development engineers, front and back-end development engineers, business development and operations personnel, etc. The team has a background in IBM, Tencent, Huawei, and Amazon, and has the development experience of the Defi project.
What is Banksea as you ask? Banskea innovatively combined AI technology to develop a cross-ecological NFT Oracle, committed to building a cross-chain ecosystem with Banksea NFT valuation as the core, providing secure, objective, real-time valuation and NFT data analysis for Solana, Moonbeam, Ethereum, and other ecological NFT.
We will provide users and partners with valuation and data analysis API, help wallet, trading market, lending projects, Gamfi, etc. to provide products and services for their application scenarios!
2. Host Flora @ INV: So Terry, can you tell me and all of the members here, do you have the story behind this project? Or can you explain why you choose this name?
Speaker Terry @Banksea: Yeah! For the name of the project, it will be interesting. In the past two years, the rise of NFT, the new art form, has greatly promoted the art industry. At the beginning of the project, we named the project Banksy in honor of the avant-garde and emerging artists. As you know, Banksy is a world-renowned street artist.
After winning the Solana Asian Hackathon award last year, a lot of fans associated us with the artist Banksy. In honor of Banksy, we upgraded our brand and renamed it Banksea.
We hope Banksea can be like the ocean in promoting NFT liquidity and financialization.
3. Host Flora @ INV: As with many other projects, there always have many challenges! What has been the biggest challenge you have faced in your project development?
Well, That always challenges there.
For us, the one I can mention here is How to let users can understand more about Oracle and NFT valuation, especially our products are to provide partners for specific application scenarios! 🤔 We use AI technology in NFT valuation and data analysis, the whole model is a complex calculation process. It is difficult for users to understand it!
In order to solve this problem, we have also published a series of easy-to-understand explanatory articles and comprehensive technical introductions. We will also strive to develop user-friendly web pages. Hope we can make members understand it as much as we can. That is what I am sharing for the challenge.
4. Host Flora @ INV: I think everything gonna be fine, and all the problems will be solved, Terry. So can you share with us, who are the competitors and what are BankSea’s advantages compared to the competitors?
Speaker Terry @Banksea: So, With the development of the NFT industry, there are also some competitors coming up in this market. We also did a lot of research on projects. But, The concept of AI NFT Oracle was first proposed by Banksea when it was set up last year. And there was no NFT Oracle project on the market yet.
And the good question about our advantage. We use artificial intelligence algorithms to provide NFT valuation and data analysis for each NFT in a more reasonable and real-time manner. And !! This is something none of our competitors have been able to achieve so far!!!
At present, the analysis and calculation of Solana ecological whole chain NFTs have been completed. Oracle is also going online on Solana main net this month. Yes, Just this month July! That will be much more competitive with the Banksea Oracle launch on Solana main net.
5. Host Flora @ INV: Where can we reach you easily? Do you have any social media channels? 🥳
Speaker Terry @Banksea: Yeah, that is what I would like to share with guys.
We have the communities, with tens of thousands of members, welcome to join us, and we have more events for you!
Here are the communities of Banksea:
Twitter: https://twitter.com/banksea_finance
Discord: https://discord.com/invite/NdRGt4BDFe
Telegram: https://t.me/banksea_finance
We have a strong Vietnam channel on the Discord server, welcome to make friends there! Of course, you can also contact us through the official email:
Email: contact@banksea.finance
6. Host Flora @ INV: Okay, so that is the end of our first part! Let’s shout out to Terry and we gonna move to the second part-pre-selected questions on Twitter!! The first question is besides NFT, what is the main part of the BankSea project?
Speaker Terry @Banksea: Thank you @hugo32117 for the question.
NFT CitizenzOne is a credential we give members to join the project.
Our main products are Banksea NFT Oracle, NFT Valuation, and NFT Analysis.
We will support many different application scenarios such as mortgage lending, Wallet, Marketplace, Gamfi, and more, and combine upstream and downstream projects to build an ecosystem with Banksea valuation at its core.
We have gained the full chain NFT data on Solana, and have released a data analysis API of over 700 NFT collections that can be accessed:
https://banksea-finance.gitbook.io/banksea-oracle-api/api/nft-api
7. Host Flora @ INV: The second question, minting NFT is the trend, a lot of projects do that. So what are the cons and pros of this job?
Speaker Terry @Banksea: Good question! Yeah, it has been more and more NFTs come up in the market! I think Minting more new NFT collections means the market is animate and booming. This is a good sign for the NFT market, with new collections coming out all the time to bring new life to the market!!
But a growing number of NFT collections may also affect the investors on the NFT value-effective judgment.
Evaluating the real value among the numerous NFTs will be a very complicated job. They need to consider many aspects of NFT market value, which requires the users to spend a lot of energy collecting information and analyzing data, combined with experience to explore the value of NFT.
Such work is not easy for collectors to complete!!!! Therefore, AI artificial intelligence technology has great advantages!!
It can automatically evaluate and calculate a large number of real-time data and historical data, and evaluate the value of NFT from multiple dimensions, so as to provide real-time and reasonable valuation references for users. This is what we at Banksea NFT Oracle devote to with AI tech! We will help users to make a better investment strategy by themselves with the NFT valuation and NFT analysis.
8. Host Flora @ INV: Let’s move to the third one, what is the uniqueness of Banksea NFT? What is the purpose of these NFTs? What is the purpose of these NFTs?
Speaker Terry @Banksea: OK! So NFT CitizenOne is the genesis collection of Banksea. It is important evidence for members to participate in project and community governance, and holders can also enjoy certain privileges including Whitelist in IDO, Collateral for loans, Staking for mining $KSE, Token Airdrop, copyright royalty, and more privileges in the coming days. We have completed the first phase of staking, and more than 770 NFTs joined.
9. Host Flora @ INV: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
Nice questions that I will share with the partners with you guys.
Banksea has some great partnerships set up like Parrot who is an important investor and liquidity provider. Frakt is the lending scenario partner. Zebec is the multi-sign asset management partner. Certik is our audit partner. Solsea is the marketplace partner.
For more partners, please refer to the following table:
10. Host Flora @ INV: Marketing is a central element of every project so that everyone knows the potential that a project can bring is vital to achieving the goals set. What is your strategy to attract new users and investors to your platform and keep them long-term?
Speaker Terry @Banksea: First of all, We provide the community NFT valuation and data analysis as reference for the NFT investment. It will help members to know what the NFT value is and make the investment plan.
Secondly, We will establish DAO with community members as the core.
Loyal members will be able to influence the community construction. The team will be always open to the opinions and suggestions of members to bring more benefits to everyone!
Thirdly, More community events can make members get more rewards and have fun with friends. Members can always propose what events they prefer. It will be more like a place for you and your friends to chill!!
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