AMA June 14th, 2021 | The Gem Hunters x Oraichain

Published in

aiRight

10 min readJun 15, 2021

On 14/06/2021, the Oraichain team held an AMA on The Gem Hunters community with the attendance of our CEO, AI Lead and SamOrai Ambassador. We are glad that new communities are discovering aiRight and Oraichain. Now, we are pleased to recap the main content of the AMA.

1. Oraichain team attendees:

Dr. Chung Dao, CEO of Oraichain
Noah, AI Lead of Oraichain
Tyree Robinson, SamOrai Ambassador of Oraichain

Team Introduction:

[Dr. Chung]: I am Chung. I am the CEO and Co-founder of Oraichain, the world’s first AI-powered oracle and ecosystem for blockchains. I received my Ph.D. from the University of Tokyo in 2017. Recently, I have led the technology of Oraichain to the development of aiRight, a complete system for AI x NFT x DeFi. The aiRight system brings multiple innovations to the NFT market including NFT originality proof platform with AI and NFT tokenization launchpad for artists. I am also a co-founder of Rikkeisoft, a top-10 software development company in Vietnam.

[Noah]: I’m the AI lead of Oraichain. With my strong research background in Artificial Intelligence during and after my Ph.D. I’m very excited to work with the Oraichain team to make blockchains more functional & robust with AI.

[Tyree Robinson]: Hello! I’m Tyree. I am a proud SamOrai Ambassador. I received my BFA from Carnegie Mellon University in 2010. I am a business owner, artist, and writer. As an actor, I have shared the screen with some legends, such as Steve Buscemi, Michael K Williams, and Jeffrey Wright. I have been working closely with the team to connect aiRight and all of the great advantages it has to offer to the many NFT artists and collectors that need it.

Q&A with The Gem Hunter

The Gem Hunter: To start off this AMA we would like to get an introduction of what you guys are trying to achieve over at aiRight, please?

Dr. Chung: aiRight is the world’s first complete system for AI x NFT x DeFi. Users can generate AI NFTs, protect origin with copyright issuance, trade and tokenize unique artworks, taking advantage of our complete royalty mechanism for contributors on-chain.

Oraichain (https://orai.io/) is proud to be the ecosystem provider of aiRight: securing AI functionalities via AI Oracle, accessing Marketplace, organizing Galleries for DeFi, and cross-chain bridging for NFTs.

We launched on May 31 at https://airight.io/

2. The Gem Hunters: One of the main purposes of aiRight is to build a complete copyright & rights management system for AI x NFT x DEFI, we are interested to find out how you guys aim to use AI to add more utility to NFT’s and DEFI. Can we get a better idea of what some of the features, utilities, and use cases the aiRight platform will offer users and investors?

Dr. Chung: We provide AI Oracle services via aiRight:

- NFT database

- Content-based classification

- Similarity calculation

- Originality check

- NFT Origin proof

- NFT price feeds

Link: https://airight.io/original-check. You can try our first AI Oracle service: NFT Originality check above.

We also provide AI-based NFT generation with copyrights and royalty management.

Link: https://airight.io/ai-models

The current running features on aiRight (https://airight.io/) includes:

1. AI Generator: Creating artworks and instantly securing copyrights

2. Marketplace: Selling and collecting NFTs effortlessly on Oraichain

3. Gallery: Showcasing collections and artistic cultures of multiple artists

4. Farming: Tokenizing galleries and facilitating mining pools

5. AI Oracles: Verifying the uniqueness of NFTs with the world’s first largest NFT database and applying for AI Oracle services to integrate into your platforms

3. The Gem Hunters: NFT’s are a hot topic right now, there are many NFT platforms and marketplaces that already exist. What makes aiRight stand out amongst the rest, will you also incorporate a marketplace and how is the progress of the aiRight platform to date?

Noah: There are several features that make aiRight stand out of other projects:

aiRight NFT marketplace ensures the quality of listed NFTs: highly original, not including restricted content such as NSFW. The verification of NFT content is automatically done by AI models.
aiRight supports cross-chain swapping among different blockchain networks.
aiRight NFT Gallery implements NFT tokenization (fractional ownership) by introducing NFT galleries.
aiRight provides farming options for NFT gallery owners and AIRI holders.

We have a packed roadmap for new features for aiRight too.

4. The Gem Hunters: Are you even building a bridge to substrate with $KSM too?

Noah: Yes, we’re implementing it.

Chung will tell you more about the concept.

Dr. Chung: Yes, we are developing an AI Oracle protocol between Oraichain and Substrate-based networks. It will help to bridge data and tokens to Polkadot blockchains.

In June, we are about to introduce a price feed oracle from Oraichain to Polkadot blockchains as a showcase of the protocol we’re aiming for many other oracle services. Beyond Polkadot, we intend to expand our AI Oracle services to all widely available networks that include CosmosSDK-based, Ethereum, BSC, Substrate-based, and Polygon as well. We’re eagerly looking forward to Q3 to improve our technology further.

It is our plan. It is coming.

5. The Gem Hunters: Farming is also trending right now and you’re incorporating farms and NFT’s into the aiRight ecosystem!? This is where a whole other token $SamORAI comes into play. Can you tell us more about why this token is so important and what role and use case it will have within the aiRight ecosystem?

Tyree Robinson: SamORAI token or any future tokenizable gallery tokens is a way to make non-fungible assets (NFTs) into fungible ones. Gallery token holders can use the tokens to obtain ownerships of non-fungible assets again. The easiest way to understand this is to think of aiRight’s Gallery and Farming as a “Launchpad for NFT artists”.

Since each gallery showcases a different artistic culture, the tokenization of the gallery into a different token than ORAI or AIRI is necessary. The monetary value of the gallery token will be decided by its creator, its reputation via fundraising, and liquidity providing, not via ORAI or AIRI tokens.

Each gallery is tokenized into a fixed supply of 10,000 gallery tokens, and its creator decides how much the initial value of the gallery token is worth, then creates a proper liquidity pool.

Oraichain team tokenizes the first gallery and creates a pool of SamORAI/BNB for it. Other users can fully use the Gallery and Farming functions later in June to create their own galleries and farming strategies. “The Warrior” gallery is the first gallery created by Oraichain team, and Oraichain team will assign extra benefits to the NFT holders: a lifetime discount (up to 100%) when using aiRight and AI requests, better APR of AIRI rewards for farming when the AIRI is listed.

Dr. Chung: There are many benefits for NFT holders in “The Warrior” gallery. Please have a look: https://airight.io/nft-gallery/0xE65B9e5fd7029169a81F13910F49c174d851f393

Noah: It’s our first gallery and it marks our relationship with our community. So we’ll make sure NFT holders from that gallery will always be special 🙂

Tyree Robinson: This is also a great example of how many businesses could use aiRight Galleries to offer exclusive opportunities to NFT holders. A grea Marketing tool.

6. The Gem Hunters: When can users delegate to the mainnet?

Dr. Chung: The Oraichain mainnet and the bridge are ready. We are working on delegating the backend and the ORAI wallet. We plan to open delegating next week.

7. The Gem Hunters: We just mentioned farming, the TGH community is heavily into farming right now, what can you tell us about your upcoming farming program, how much APR will it offer and how can people start farming?

Dr. Chung: Farming on aiRight will start 2 hours after AIRI listing, meaning at 17:00 UTC June 17.

There will be several farming options as following:

- AIRI/BNB: >=300% APR

- ORAI/BNB: >=100% APR

- SamORAI/BNB: TBA when the current farming finishes

- AIRI: >=50% APR

- ORAI: >=30% APR

Moreover, when each gallery is opened, you can farm as well. aiRight’s Gallery and Farming as a “Launchpad for NFT artists”.

8. The Gem Hunters: You mentioned $AIRI, which is the multi-purpose token of aiRight. When will it be available and what is the initial price?

Dr. Chung: $AIRI will be listed on PancakeSwap on June 17 at 15:00 UTC.

The initial price is $0.0025 per AIRI token. The initial market cap is $350,000.

Note that: there is no pre-sale and no private sale.

9. The Gem Hunters: To finish off could you share more details about AIRI tokenomics?

Dr. Chung: AIRI token will be used for governance, farming, and utility purposes.

Above is a summarized infographic.

For more information, please check out: https://blog.orai.io/airi-token-4cb47fe1f7a6

Note that:

- The initial market cap is $350,000

- The initial circulating supply is 140,000,000 AIRI (7%)

Q&A with Community

Most of the farm coins suffer from high APY and are constantly printing new tokens. For example, I farm $AIRI, receive more $AIRI and throw away my extra tokens. Most of the farm coins have failed and will fail on Token Metrics only. How do you offset the selling pressure?

Tyree Robinson: Unlike many projects conducting yield farming, we have a working product ready to go. We will actively work on B2B sales to bring adoption of aiRight and its products.

2. You offer airless transactions for NFT owners and many possibilities for NFT owners, NFT scores, trustless NFT loans, and NFT income vault. But, how much does it cost on your platform?

Noah: Currently the service fee is free for June and July. From August, the fee will be charged but cheap.

3. Current NFT is a hot topic but is NFT not just for art. Do you think that more real-world use cases will emerge for NFTs as time goes on, why should we take NFTs seriously?

Dr. Chung: We are taking NFT seriously, not only for art but also applies to music, video, and more.

Our AI Oracle services could serve many types of content.

NFT is changing the way we manage copyright and patents. And we are bringing them to mass adoption.

4. One of the problems users experience with this type of NFT ecosystem is their design plagiarism. So, what actions does aiRight have to verify NFT ownership? And how do I know that I bought the original NFT and not a plagiarized design?

Dr. Chung: We have a database of 2.5M NFTs from different marketplaces that we use to check the originality. All must pass our AI Oracle engine first. We are also providing that service for other marketplaces.

Have a look at our database here: https://airight.io/original-check

Noah: We’ve built the largest NFT database for NFTs across chains. AI algorithms will help us verify the originality of an NFT.

Our AI team is developing many new AI models especially for plagiarism detection, including partial plagiarism (e.g., photomontage), and other purposes.

Processing content is exactly where AI will thrive.

5. It is known lately that “artists” steal intellectual property and upload music as their own, when in fact it is plagiarism from other musicians who are sometimes less well known. On the aiRight platform, do you review content before publishing? How do you ensure that quality content is published and comes from artists? And how does the system work? Does the AI GENERATOR secure it?

Tyree Robinson: Users can access a number of AI models, customize their input and mint AI-Generated artwork as an NFT (OW721). The AI Oracle is constantly scanning across multiple blockchains, indexing NFTs to generate a reliable database by which originality can be measured. These oracle services are already being adopted and deployed by our partners at Fomo Lab and Drops; we are dedicated to bringing our NFT verification AI Oracles to as many projects as possible in the future, promoting a layer of security for non-fungible assets that the sector currently lacks. This will eventually ensure that only original work is minted.

6. Is aiRight primarily for enterprises alone, or is there a possibility to expand to individual users who want to invest crypto assets in a much more secure environment?

Noah: Yes, it’s for both enterprises and individuals, both artist groups and independent artists.

Please check out the airight.io.

7. How will you ensure the world knows about aiRight apart from AMA’s?

Noah: We’re executing many marketing campaigns as well as participating in conferences to promote aiRight and its features.

We’re hiring a CMO at the moment too. Please have a look: https://twitter.com/aiRight_io/status/1403386301752041473

8. How did aiRight manage to survive as many projects disappeared in hard market conditions? What is your survival strategy?

Noah: Continuously BUILD and DELIVER strong technology. We’re here building and delivering no matter what condition the market is.

About aiRight

aiRight is the world’s first complete system for AI x NFT x DeFi. Users can generate AI NFTs, protect origin with copyright issuance, trade and tokenize unique artworks, taking advantage of our complete royalty mechanism for contributors on-chain.

Oraichain is proud to be the ecosystem provider of aiRight: securing AI functionalities via AI Oracle, accessing Marketplace, organizing Galleries for DeFi, and cross-chain bridging for NFTs.

Website | Twitter | Telegram

About Oraichain

Oraichain is a data oracle platform that aggregates and connects Artificial Intelligence APIs to smart contracts, serving as a foundational base for the creation of new Dapps leveraging AI technologies. Oraichain is the world’s first AI-powered oracle aiming to revolutionize the AI, DeFi, and Blockchain industries.

Unlike regular oracles that use raw data, Oraichain’s AI oracle uniquely uses AI APIs to consume or create data on-the-fly via virtual machines on smart contracts. Data quality, reliability and security are enhanced by using test cases, which help to avoid intermediaries, increase trust and open up unprecedented application functionalities. AI-powered oracles create a new generation of smart contracts.

Beyond data oracles, Oraichain interconnects Artificial Intelligence and Blockchain technologies. With AI as the cornerstone, the Oraichain ecosystem contains an AI API marketplace, a Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.

Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop-shop for Artificial Intelligence services.