[RECAP] AMA: Kommunitas x Brickken
Edwin Mata from Brickken shared valuable information about his project during our AMA session. For those who couldn’t attend, you can catch up by reading the recap below.
SEGMENT 1: INTRODUCTION
Question 1: Before we proceed, could you please introduce yourself and provide an overview of the project you are currently working on?
Edwin Mata: Hello everyone, my name is Edwin Mata and I am a Serial entrepreneur (one exit), blockchain lawyer, lecturer in universities and business schools, and advisor for startups in the web3 ecosystem. Keynote speaker. Created the “Master in Blockchain & Crypto” for Binance Academy and Nuclio Digital School for Europe.
Brickken simplifies the creation, sell and management of tokenized digital assets. Much like Shopify streamlined e-commerce, Brickken provides a comprehensive platform with user-friendly tools and features, making it effortless for companies to self-tokenize and self-manage their digital assets:
🔹Reach the Public with Offers: Accept both crypto and fiat currencies, create a dedicated landing page for selling tokens, review investor KYCs, and monitor your campaign’s progress in real-time.
🔹Create Company Digital Assets: Tokenize real-world assets and/or securities, design unique token economy, ensure compliance in any jurisdiction, and deploy digital assets on the blockchain within seconds.
🔹On-Chain Digital Asset Management: Distribute earnings to investors, streamline corporate actions, review analytics to optimize performance, and manage treasuries efficiently.
Question 2: How does Brickken’s Token Suite simplify the process of token creation, selling, and management for businesses?
Edwin Mata: Brickken’s Token Suite streamlines the process of token creation, selling, and management for businesses in several ways:
1. Token Creation: Businesses can create their own digital assets without needing in-depth technical knowledge. Brickken provides a user-friendly interface to design unique token economies, ensure regulatory compliance, and deploy digital assets on the blockchain swiftly.
2. Token Selling: Brickken provides businesses with the tools to easily reach potential investors. They can create dedicated landing pages for their tokens, accept both crypto and fiat currencies, and monitor campaign progress in real time. Brickken’s platform also reviews investor KYCs, simplifying the process and ensuring compliance.
3. Token Management: Post-issuance, Brickken’s platform allows businesses to efficiently manage their tokens. They can distribute earnings, streamline corporate actions, review analytics for performance optimization, and manage their treasuries effectively.
In essence, Brickken’s Token Suite simplifies every step of the tokenization process, providing an end-to-end solution that allows businesses to leverage the benefits of blockchain technology with ease.
Question 3: What key elements does Brickken’s Token Suite comprise, and how do they contribute to the overall solution?
Edwin Mata: Brickken’s Token Suite comprises several key elements that contribute to a comprehensive tokenization solution:
1. Token Creation Module: This allows businesses to tokenize their assets or securities with ease. Users can design unique token economies and deploy them on the blockchain within seconds, ensuring regulatory compliance in any jurisdiction. This contributes by enabling the first step of tokenization — turning real-world assets into digital ones.
2. Token Selling Module: Once the tokens are created, this module aids in their distribution and selling. It provides functionalities like creating a dedicated landing page, accepting both crypto and fiat currencies, reviewing investor KYCs, and real-time campaign progress monitoring. This module simplifies the process of reaching potential investors and managing the crowdfunding campaign.
3. Token Management Module: After the tokens are sold, this module assists businesses in managing their tokens and the funds received. Features include earnings distribution, corporate action streamlining, analytics reviewing, and treasury management. This module contributes by ensuring that businesses can effectively manage their tokenized assets post-issuance.
4. Secondary Market Module: This facilitates trading of the tokens on a peer-to-peer secondary market, providing liquidity and price discovery for the tokens.
5. Integration Features: The suite also offers integration with third-party dApps and protocols through its open API. This allows businesses to extend their token functionality beyond what Brickken natively offers.
Each of these elements plays a crucial role in simplifying the entire process of tokenization, from creation to management, providing a comprehensive solution to businesses interested in tokenizing their assets.
Question 4: And how does Brickken differentiate itself from its competitors in the tokenization market?
Edwin Mata: Our competitors in the blockchain space include platforms such as Polymath, Securitize, and Tokeny. These platforms also offer tokenization services, but there are key factors that set Brickken apart:
1. Comprehensive Solution: Brickken provides an all-in-one solution, covering all aspects of the token lifecycle — creation, issuance, management, and trading. Many competitors only focus on one or two aspects, requiring users to rely on multiple platforms.
2. User-Friendly Interface: We have designed our platform to be intuitive and easy to use, even for those without a deep understanding of blockchain technology.
3. Flexibility: Brickken’s platform is asset-agnostic, which means it can tokenize a variety of assets, including real estate, securities, intellectual property, etc. Many competitors have a more limited scope.
4. Regulatory Compliance: We have a strong emphasis on ensuring that all token transactions are compliant with relevant regulations, reducing the risk for issuers and investors. We help our clients be compliant in the jurisdiction of their choosing.
5. Community Building: Brickken assists in not just tokenization, but also in building and engaging a community around the tokenized asset, a service not typically offered by competitors.
6. Affordability: Brickken operates with a competitive fee structure, making it more accessible for a wide range of potential users.
7. In summary, our comprehensive, user-friendly, and compliant approach, combined with our ability to tokenize a wide variety of assets, sets us apart in the competitive landscape of blockchain-based tokenization platforms.
Question 5: Who are the target customers of Brickken, and what opportunities do they represent in terms of capital raising and asset digitization?
Edwin Mata: Brickken’s target customers include a wide range of entities, such as:
Startups and SMEs: These businesses can use tokenization to raise capital in a novel way, accessing a global pool of investors. It can also be a more efficient alternative to traditional fundraising methods, such as venture capital.
Real Estate Developers/Owners: Tokenization allows real estate entities to break down high-value properties into smaller, more affordable units, which can be sold to a broader investor base. This not only raises capital but also potentially increases liquidity of these traditionally illiquid assets.
Financial Institutions: Banks, hedge funds, and other financial institutions can tokenize their assets or funds, offering a new form of investment to their clients and opening up new revenue streams.
Art and Collectible Owners: Tokenization enables the division of high-value art or collectibles into affordable fractions, providing a new way to monetize these assets and offering investment opportunities to a wider audience.
IP Holders: Entities holding valuable intellectual property can tokenize their IP rights, allowing them to monetize these assets and provide investment opportunities.
These target customers represent vast opportunities in terms of capital raising and asset digitization. By providing an efficient, transparent, and globally accessible platform for asset tokenization, Brickken allows these entities to unlock liquidity, democratize investment, and access global markets in ways not possible with traditional methods.
Question 6: Can you provide some statistics or traction indicators that demonstrate Brickken’s success in the market?
Edwin Mata:
🔹Current board: Varys Capital, OxCapital, Psalion
🔹Programs: Part of BUILD by Chainlink and the acceleration program by Cointelegraph,
🔹Key milestones: 27 signed clients since the dApp launch (February 2023), 210 clients in the pipeline, $2500M tokenization value in the pipeline, 81 partnerships agreements signed
🔹Marketing key metrics: 100k total community members, 43k total CRM contracts, 60+ average leads per month.
SEGMENT: LIVE QUESTION
Question 1: Have Brickken carried out any security audits . What security systems are in place to prevent malicious activity ?
Edwin Mata: Yes we have. Our token has been audited by Omniscia (https://omniscia.io/brickken-protocol-token-implementation/) and our dApp by CERTIK (https://skynet.certik.com/projects/brickken). We have an internal security team continuously auditing against breaches as part of our Information Security Management System
Question 2: Can you briefly explain the role of Security Token Offerings (STOs) and the role they play in RWA tokenization on your platform?”
Edwin Mata: Security Token Offerings (STOs) and their role in Real World Asset (RWA) tokenization is significant in the context of Brickken’s platform.
Security Token Offerings (STOs): STOs are the process of issuing digital tokens on a blockchain, where each token represents a share in an underlying asset or company and carries with it certain rights such as voting or profit-sharing. Unlike Initial Coin Offerings (ICOs), which may not offer any rights or might be purely speculative, STOs are backed by tangible assets and are subject to securities regulations, which helps to protect investors.
Real World Asset (RWA) Tokenization: This is the process of representing real-world assets, like real estate, art, or company shares, as digital tokens on the blockchain. These tokens can represent ownership or a claim against the underlying asset. RWA tokenization has the potential to democratize access to investments, as these tokens can be divided into small fractions, allowing more people to invest with smaller amounts of money. It can also increase liquidity for traditionally illiquid assets, as these tokens can be easily bought and sold.
On Brickken’s platform, STOs play a crucial role as the mechanism for RWA tokenization. When a company wants to raise capital, they can use Brickken’s platform to tokenize their real-world assets through an STO. This means the company can issue tokens, which represent shares or ownership of an asset, to investors. These tokens are then subject to securities regulations, which provide transparency and protection for investors, while also allowing the company to raise funds.
By combining STOs and RWA tokenization, Brickken’s platform allows for a more efficient and accessible way to raise capital, while also providing an additional level of security and regulatory compliance.
Question 3: Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto
Edwin Mata: Yes we do and our whole strategy falls under the following pillars:
Education: The key barrier to entry for many non-crypto investors is a lack of understanding about blockchain technology and how it works. Conducting workshops, webinars, or creating easy-to-understand content can help educate potential investors about blockchain, tokenization, and their benefits.
Partnerships: Collaborating with established financial institutions or companies can help the project gain credibility and exposure to non-crypto audiences.
User-friendly Platform: Ensuring that the platform is easy to use for people without any prior knowledge of cryptocurrencies is crucial. This might involve a simplified signup process, clear guidance on navigating the platform, and readily available customer support.
Marketing and PR: Traditional marketing and public relations strategies, such as press releases, social media marketing, and influencer endorsements can be used to raise awareness about the project among non-crypto audiences.
Regulatory Compliance: Compliance with local regulations and obtaining necessary licenses can provide additional assurance for non-crypto investors, making the project seem safer and more trustworthy.
Fiat On-Ramps: Providing easy ways for investors to buy tokens with fiat currencies (like USD, EUR, etc.) is another essential step towards attracting non-crypto investors.
Question 4: Can I tokenize a collection of different assets on the blockchain? Are there any particular conditions that must be met before I may tokenize a group of assets, and are there any restrictions on the kind of assets I can tokenized?
Edwin Mata: Yes, it’s typically possible to tokenize a collection of different assets on the blockchain. This process, sometimes referred to as “bundling” or creating a “portfolio” of assets, essentially means that one digital token represents a fraction of ownership in multiple underlying assets.
However, there can be various conditions and restrictions depending on jurisdictional regulations, the specific platform being used for tokenization, and the nature of the assets themselves.
Regulatory Compliance: All tokenized assets, especially if they’re classified as securities, must comply with the respective regulations in the jurisdictions where they are issued and sold. This might include certain disclosure requirements, registration with financial authorities, and restrictions on who can purchase the tokens.
Due Diligence: Before any asset can be tokenized, there typically needs to be a thorough due diligence process to verify the legitimacy of the asset, its value, and the rights associated with it.
Asset Type: While theoretically any type of asset can be tokenized, in practice, it can be more straightforward with some types of assets than others. Real estate, company shares, and commodities like gold or art are commonly tokenized. Intangible assets or assets with complex ownership structures might be more challenging to tokenize.
Tokenization Structure: When tokenizing a bundle of assets, there needs to be a clear structure for how the rights and profits associated with each asset are divided among token holders.
Liquidity: While tokenization can increase liquidity, there’s no guarantee there will be a market for certain types of tokenized assets. Therefore, the potential liquidity of the tokenized asset should be considered.
Question 5: I read your listing will be on July 20th can you tell us about some of the preparations you have inline prior to the launch that ensures a smooth launch of $BKN token, will you have more opportunities for the community to buy token before the final launch or no more opportunities
Edwin Mata: We have been deploying our marketing strategies for weeks now, and gathering a lot of interests, and being considered one of the top ICOs for July https://www.bitcoininsider.org/article/210329/initial-coin-offerings-ico-2023-what-are-best-crypto-icos-buy-now
If you want to buy our token, buy through @Kommunitas and helps us in tokenizing the world
