Rare FND x IM community AMA RECAP
đTELEGRAM AMA: Im Community & Rare FND đ
â° AMA Timing : 21th July 2022 l 01:00 PM UTC l 20:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
đ Reward Pool 100$
âĄď¸ The reward pool for the best 5 questions from Telegram is $50($10 Each) đ¸
âĄď¸ The reward pool for the best 5 questions from Twitter is $50 ($10 Each) đ¸
BĂ Tân | : bắt Äầu ama thui mn
Bà Tân | : Welcome @DubaiRAT from Rare FND ���
Ryan Rare Antiquities : Thank you!
Bà Tân | : Welcome everyone. Today Im Community will host AMA with Rare FND.
Bà Tân | : Today our guest is: @DubaiRAT from Rare FND.
Ryan Rare Antiquities : https://t.me/RareFnd
Ahrix : Welcome @DubaiRAT to the IM community.
Ryan Rare Antiquities : Thank you for having me!
Bà Tân | : Can you introduce yourself to our Im Community?
Ryan Rare Antiquities : Of course!
Ryan Rare Antiquities : Iâm founder of the Rare Antiquities Token which started exactly 12 months ago. We looked at making high valued art accessible to everyone. This was done by not only turning real world art like Picassos into NFTs, but also then fractionalizing those NFTs and distributing the fraction and individual NFTs on our own NFT marketplace at ratbits.com
We are now in a series A funding round for that and in speaking to Venture Capitals found multiple use cases and utilities for our fractionalization and steganography technology.
One of those came as a result of partnering with Binance for a charity government project here in Dubai. Unfortunately the ruler passed away and the new ruler funded the remaining target for the charity. As we had already built the technology for the demo we decided to create a new token and further enhance what we had built. FND was born.
Before this I have 15 years experience working for corporate organisations delivering large scale technology projects as a business analyst and product manager before moving to infosec as an information security manager implementing and auditing ISO27001
Bà Tân | : Thanks for the introduction.
BĂ Tân | : Todayâs AMA will have 3 session
Session 1: Project Introduction
Session 2: Question From Twitter (https://mobile.twitter.com/IM_Communityitw/status/1550071355902930944) (will choose 5 question)
Session 3: Free Asking (will choose 5 question)
Bà Tân | : Start session 1 AMA.
Bà Tân | : Q1.Can you briefly describe what is Rare FND ? We would like to know more about it and how it works. @DubaiRAT
Ryan Rare Antiquities : Rare FND is the first end-to-end platform the allow charities and startups to crowdfund using crypto. Funds raised are done so in $FND and automatically staked helping the charity or startup reach their target quicker.
Upon a successful crowdfund the FND is then vested to ensure there is no negative impact on the chart. When a project signs up to crowdfund they need to provide a detailed schedule of spend. This not only gives contributors confidence that the startup has done enough work to provide a detailed project plan, but it also provides us with a vesting schedule to release the funds to the startup.
As we as platform grow and onboard more and more charities and startups, then any vesting payouts will be mitigated with the ever increasing buys of FND to donate to charity or contribute to startups.
Ahrix : Please â when you have finished the question, thank you.���
Ryan Rare Antiquities : How we differ to mainstream crowdfunding platforms is they take a fee of 2â5% on all funds raised. GoFundMe take 5% whilst Kickstarter take up to 4%. They also take fees from those donating or contributing.
We work on a model whereby we will actually run marketing campaigns in the first 6â12 months where we start a crowdfund off on 10% towards their target. So we pay projects and charities to crowdfund on our platform! Add to that the automated staking then it provides so much more than any of the mainstream platforms!
Another problem with mainstream crowdfunding platforms is issueing rewards and incentives once the crowdfund is complete. 71% of all crowdfunding is rewards based.
Using our fractionalization technology we fractionalize an NFT at the end of a successful crowdfund and distribute those fractions as individual NFTs to donators/contributors.
Using our 2nd flagship technology we then encrypt their incentive inside the NFT. So if someone has a monthly pass to London Zoo because they donated $100, or if someone has a season ticket to Chelsea FC because they donated $2000, then that incentive is encrypted inside their NFT. They can then sell their NFTs on our NFT marketplace whereby weâll be adding a section from ratbits.com to the main platform at rarefnd.com
Bà Tân | : Q2.What are the outstanding features of the Rare FND project?
Ryan Rare Antiquities : As mentioned we have automated staking when someone donates to a charity or contributes to a startup. This not only ensure their target is met quicker than any of the mainstream platforms, but if the crowdfund was unsuccessful then users would not only be refunded the amount they donated/contributed, but they would also receive they additional rewards from staking.
Add to that the ease of distribution of rewards and incentives through NFTs, and the model of onboarding new charities and startups, then it only means that the price of FND will increase.
We already have one of the biggest names in crypto on our advisory board in the form of Dr Marwan Alzarouni, who will put us in touch with all the leading charities in Dubai. One of which is a partnership weâre looking to finalize next week which is with Binance.
BĂ Tân | : Please â when you have finished the question, thank you���
Bà Tân | : Q3.What role does the $FND token play in your ecosystem? @DubaiRAT
Ryan Rare Antiquities : $FND is the only way in which users can donate to charity or contribute to a startup.
We do however appreciate that our target audience may not be familiar with crypto. So in our front end we are working with a 3rd party whereby we can accept fiat payments in debit/credit card.
The user journey in the front end is they pay using their credit/debit card. The when the crowdfund successfully hits their target the user receives they NFT and incentive/reward via email.
What actually happens in the back end is they are buying FND with their credit/debit card which is being contributed to the crowdfund. A wallet is also being created for them and is linked to their email. When the NFT is distributed on a successful target being met then the NFT is sent to the wallet and simultaneously emailed to the user.
We also have an FND Dao so if holders of the token donât wish to use the token to donate or contribute then they can vote on other way in which to help their favourite charity or startup. On a quarterly basis weâll be voting on which project should receive additional help towards their goal in the form of FND. And on a monthly basis weâll be voting on which projects could be helped further in terms of marketing and exposure by highlighting them on our homepage or in email campaigns.
Bà Tân | : Q4.How to participate in the purchase of $FND Tokens?
Ryan Rare Antiquities : The easiest way is to win a WL spot with you guys or on our TG https://t.me/RareFnd and buy on PinkSale tomorrow. Once the HC is hit then we will launch on PancakeSwap with a fully functional platform and with 2 projects live for crowdfunding.
https://t.me/imcommunityitw/3117670
The only Official Link: https://www.pinksale.finance/launchpad/0xB56503267B76dF1bb0c7075ce0b9cfbFC5BF5259?chain=BSC
PinkSale starts at 7pm UTC tomorrow.
Bà Tân | : Q5.What is the development plan of the Rare FND project at present and in the future?
Ryan Rare Antiquities : In the short term we are finalizing commercials with some of the biggest named charities in Dubai.
A large part of our fundraise is to be spent on Marketing, and given our audience is mainstream then we will market through a number of strategies such as PPC, SEO, Adwords, Email Campaigns, Magazines, QR codes in conjunction with certain charities and the venues they have (think animals), charitable events, billboards, papers and bringing in key advisors who have expertise in the charity and crowdfunding space to utilize their connections and add to our partnerships.
The roadmap will consist of continuous delivery of improvements and new functionality to the platform.
Over time we will also look at equity based crowdfunding where shared ownership of a startup can be done so using our fractionalization technology.
But ultimately the platform will take care of its self in no time and then startups and charities will be doing their own marketing for their crowdfund which in turn, does all the marketing for us.
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2.
Bà Tân | : Session 2: Question From Twitter (https://mobile.twitter.com/IM_Communityitw/status/1550071355902930944) (will choose 5 question)
Bà Tân | : Question1. Do the #FND holders have the right to participate in the governance of the project? On what kind of decisions can they vote on about the project? AND Do you have any plan to create other features? Maybe yield farm, stake, or NFT project? Can you explain in more detail? @TonySta6879648
Ryan Rare Antiquities : FND holders can vote to support their favourite project. On a quarterly basis weâll provide additional FND to help the communities favourite project hit their goal. On a monthly basis the community can vote which project gets additional exposure such as being highlighted on our homepage or in our email campaigns.
We already utilize NFTs and use them to distribute incentives and rewards as per the projects crowdfund tier. And we already implement automated staking as an incentive to onboard more and more charities and startups to use our platform to crowdfund. The more projects that use our platform to crowdfund the high the price of the token will go.
Bà Tân | : Question2. Do you consider community feedback/requests during the creation process to expand on new ideas for your project? Many projects fail because they do not understand the target audience and customers. So I want to know who is the ideal consumer for your product?
Ryan Rare Antiquities : Yes of course. We have already listened to our community on a number of aspects.
We will also be incentivizing improvements and feedback through our socials for ways in which to improve the user experience. Something Iâve seen successfully done at previous places Iâve worked is a suggestions board where suggestions can be voted on. The suggestion with the highest number of votes is then added to the roadmap. WooCommerce is a good example of a company that implements this.
The ideal consumer of our project are charities and startups and we are perfectly located in Dubai to have 100s of these on our doorstep. We will also be adding more team members who have expertise in this area as well as adding to our advisory board to further ensure we have the monopoly on this market as a first mover in the crowdfunding crypto space.
Bà Tân | : Question3. A lot of instances where investors are just after the short term profit instead of the real purpose of a token. What have you done to prevent such a scenario to the favour of a startups? Also, how would you prevent a startups from mishandling and going away with funds invested? @Spectrum_Px
Ryan Rare Antiquities : When a startup signs up to start a crowdfunding campaign they must provide a thorough business plan with a schedule of spend.
This schedule of spend forms their vesting schedule. Once a project hits their target they must evidence that each milestone has been hit on their project plan before the next trough of vesting is released.
We also conduct thorough due diligence, so a startup must complete full KYB before being approved to start their crowdfunding campaign on our platform.
As regards to short term profit, people are welcome to day/swing trade as they wish, and I fully expect people to do so with our PinkSale mcap at $175k and 0% taxes, but in the long term if they donât hold the token they may miss out on a huge partnership announcement which could see the price of the token rocket overnight.
When we have 100s of projects using our platform to crowdfund then itâs inevitable that the price of $FND will be many 100s of xâs more than the price we launch at.
Bà Tân | : Question4. Pump and dump schemes are becoming a major problem in the crypto space especially, Investors hard earned money going down the drain. Could you please tell how you will prevent whales manipulation and make price appreciate and reach for the moon? @Hk25801
Ryan Rare Antiquities : This is a long term project targeting the mainstream.
There will be inevitable volatility in the short term but long term as long as we succeed with our business plan in onboarding charities and project to use our platform to crowdfund, then there will only ever be a pump on the weekly/monthly charts. And I can assure you those onboarding plans are already off to a good start in the biggest possible form!
Bà Tân | : Question5. I read that Rare Fnd makes crowdfunding for charities and projects easy through innovative NFT auctions and fractionalization technology. Can you share you how to combine NFT with crowdfunding? How unique will your NFT be? How will it help projects? @JimmyLanister1
Ryan Rare Antiquities : NFTs can be used for so much more than just art.
We encrypt the crowdfunding incentive inside each NFT. When a project starts a crowdfunding campaign they create an NFT, this is then fractionalized and distributed to all unique contributors based on their contribution e.g. 1000eth target, someone contributes 100eth then they would get a 10% NFT fraction vs someone who contributed 10eth who would receive a 1% fraction, with all fractions distributed as individual NFTs. Encrypted inside each NFT is the persons ticket, barcode, qr code or other means in which to claim their incentive. These NFTs can then be traded on our NFT marketplace whereby weâre incorporating ratbits.com into rarefnd.com e.g. If someone has a season ticket for Chelsea FC they could sell it half way through the season on the NFT marketplace that we already have in place.
Bà Tân | : Congratulations to the winners of session 2.
@TonySta6879648
@Sarika_4088
@Spectrum_Px
@Hk25801
@JimmyLanister1
Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @DubaiRAT ���
Bà Tân | : End of session 2
BĂ Tân | : Weâll move on to session 3
Bà Tân | : Session 3: Free Asking (will choose 5 question)
BĂ Tân | : Donât forget to join the group https://t.me/RareFnd
Bà Tân | : Group will unmute now so everyone can ask questions.
Bà Tân | : Thanks for the questions from the community.
Ahrix : Now letâs give our dear guest @DubaiRAT some time to go through them.
BĂ Tân | : Donât forget to join the group https://t.me/RareFnd
Q1. Regulations are very important. Many projects are closed in many countries due to improper use of regulations and permits. How does your team address these issues?
Ryan Rare Antiquities : You can see on our litepaper a larger than normal % is for spend on legal. Not only is crypto highly regulated in Dubai but so is charity and crowdfunding
Q2. QuestionâŚ
Do you have AUDIT certificates?
or,
Are you working to AUDIT your project,
to make it more secure, trustworthy and reliable?
Ryan Rare Antiquities : We have partnered with Hacken for our Dex and had our FND and KYC with them also
Q3. Is your project a community only for English speaking an countries or for users not of other languages?
Ryan Rare Antiquities : We will have worldwide as we grow and work with more governments and charities globally
Q4. Do token holders have the right to participate in the management of other projects? Will they be able to vote on a new decision about the project?
Ryan Rare Antiquities : Yes already answered thereâs a DAO
Q5. My importen questionâŚ
What do you have?
1- Telegram Groupâď¸
2-YouTube Channelâď¸
3- Tik-Tok channelâď¸
4- Websiteâď¸
5- Twitterâď¸
For this project, Where can I get the latest information and what is the latest plan for your project?
Ryan Rare Antiquities : Please join https://t.me/RareFnd
Q6. Is your project suitable to those who are willing to invest with small amount or are you only for elite investors?
Ryan Rare Antiquities : Of course you can buy and amount.
The main buy during presale on Pinksale is 0.1BNB which could easily turn into 10BNB in a few weeks
Q7. Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?âď¸ďż˝ďż˝ďż˝ď¸ďż˝ďż˝ďż˝ďż˝ďż˝ďż˝
Ryan Rare Antiquities : Pinksale tomorrow at 7pm UTC
Q8. How strong is your team? Many projects starts with good impression and later abandoned the project. What makes your project different than others?please answering my questions sir������
Ryan Rare Antiquities : We have 2 members of Dubai government on our advisory board and a key crypto influencer in the form of Sonny Vereuco
Q9. I am interested to invest in your project. When and where can I buy your tokens Is it already listed exchanges?
Ryan Rare Antiquities : Pinksale tomorrow 7pm UTC
Bà Tân | : Thanks for the useful information from @DubaiRAT
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @RareFnd for answers.
Bà Tân | : IM Community, if you would like to know more about Rare FND ! here are some useful links for you:
Official Website: https://rarefnd.com
Telegram: https://t.me/RareFnd
Bà Tân | : Allright, I declare the Im Community AMA with Rare FND has ended.
Thanks to @DubaiRAT | Rare FND joined us and provided us with Rare FND information, we hope that this knowledge makes us understand more about https://rarefnd.com (https://rarefnd.com/)
To the members, thank you for following this event to the end. winners will be announced soon.
