Azit X KlayCheck AMA Review
‘azit’ is a blockchain-based, point integration platform for real estate and residential services. ‘azit’ provides a service that allows users to conveniently use points as they see fit for residential services related to real estate or community facilities by integrating points that can be used anywhere.
Welcome to ‘azit’!
We recently had an AMA session with one of the hottest community ‘Klaycheck’. AMA session was held on 27 April, 2022 21:00 KST, and you can find all the question and answers below!
Q1. It looks like the beta test for Azit wallet went well. When do you expect for the public to use the DApp? Additionally, AZIT token is only listed on KLAYswap, do you have any future plans for other listings?
A1. Yes, first of all, testers that participated the beta test was quite proactive and left tons of good feedbacks to improve our DApp. Currently, azit team is adjusting the DApp based on the test feed backs and it’s not fully determined but we are internally discussing about having another test for larger group of people. We are targeting 2nd quarter to officially launch Azit DApp.
Also, AZIT token is currently listed on MEXC in addition to KLAYswap, and above all, in order for users to better use the services of ‘Dabang’ and ‘We Match’ through Azit in Korea, access to AZIT tokens must be higher. Therefore, Korean domestic listing is also very important.
We are continuously discussing with the listing teams on Korean exchanges where as many people as possible can easily obtain or trade AZIT tokens. We ask for your understanding that it is difficult to disclose any information until the listing is finalized due to policy. However, the Azit team is doing our best and putting it to our top priorities.
Regarding the value of AZIT token, after Azit’s service starts, it is expected that the value will increase when it gets more utility, such as exchanging AZIT tokens for points to use at our partner’s services such as ‘Dabang’ and ‘We match’. In addition to our early partners like ‘Dabang’ and ‘We Match’, the value of AZIT tokens is expected to rise continuously as partnerships are added opening new places to use and strengthen Azit’s ecosystem
Q2. As introduced, in order for people to use Azit service,
- Need more well-known partners
- AZIT branding (CEX listing, Ad etc.)
- AZIT TOKEN’s main usage point
I think the above 3 factors are important, please give any information about it.
A2. Many people have asked similar questions about partnerships. First of all, the best way to increase the value of the AZIT token is to continuously secure excellent partners so that the AZIT token can be used many partner’s services.
To that end, the Azit team is discussing collaboration with various companies that you may have heard of, such as cleaning, laundry, interior design, and house insurance, in addition to the ‘Dabang’ and ‘We Match’, which is our early partners.
We are quite careful at the moment, but I think we will be able to disclose one new partnership soon, and when we make decision of a partnership, we review each company’s business direction and whether it is technically possible to join Azit in various ways.
Generally, mass marketing is expected whenever AZIT token gets listed, when Azit app gets launched, or when our NFT project starts. In addition, as partners get interlocked to Azit and services get started, spot events will be held, and if necessary, branding and performance marketing for Azit DApp itself will continue.
And I believe I already answered about our listing status at the above question.
Q3. On the roadmap it says co-marketing with ‘Dabang’ in 3rd quarter, what kind of marketing can we expect? And what kind of collaboration will there be between ‘Dabang’ and ‘We match’.
A3. In Q3, we will launch Azit DApp and at the point when Dabang’s service is interlocked in Q3, there will be promotions to encourage Dabang users to use Azit DApp and vice versa. In a similar way, various cross promotions can be executed between each partner and Azit, and we expect there will be collaborations among partners who have joined Azit. As a simple example, there can be events such as if you sign an electronic contract at a Dabang, then you can get full support to use We Match’s moving service for freely.
The Azit ecosystem that we envision is a where you pay for service fees by exchanging AZIT tokens with each partner’s points and using them for brokerage fees while making electronic contracts at Dabang, when paying moving costs in We Match, and when using cleaning, laundry, and interior services.
Many people have asked about how and where to use AZIT tokens. In the Azit DApp, you can exchange points for residential service companies that you need, and when you exchange points, Azit provides a discount so that you can get a more points.
AZIT tokens and points can be exchanged directly in the Azit DApp, which functions as a wallet, and in the DApp, you can also send and receive Azit NFTs. For the time being, the Azit wallet will only handle AZIT tokens, and as well for NFTs we also will need support from certain projects to bring their Klaytn-based projects to our wallet. In the Azit DApp, in addition to the wallet function, new functions suitable for Azit are being developed.
Q4. I understand that Azit is a service where you exchange proptech companies’ points. To be a sustainable service you need a strong business model, how does the team make profit?
A4. Yes, there are several business models that we established, the Azit DApp receives a small fee when exchanging AZIT tokens against partner companies’ points and vice versa. So, as the number of interlocked partner services increases, and the number of transactions exchanging points for AZIT tokens to use partner services increases, that is where our income is generated.
In addition, when the Azit ecosystem grows and users of a certain size gather, partner companies can conduct various marketing activities within the Azit DApp, and when using our DApp as a marketing platform the partner companies pay marketing costs.
Third, the Azit NFT project will also generate revenue. But at this stage, we are focusing on figuring out what value and benefits we can provide to NFT holders rather than revenue.
Oh, and among the questions, there were people who wonder how the service cycle will go since house renting and moving occurs once every few years or at least once every few months. We want to create the Azit ecosystem by combining services with long repurchase cycle, such as house renting, moving, house designing and services with short repurchase cycles, such as general cleaning, laundry, early morning delivery, and companion animal service. In other words, after signing a house contract, moving, and interior design, you will gradually use cleaning, laundry, and delivery services during some period of time and the eventually meet the point where you have to move again. And we expect cycle to repeat.
There were significant effects from the pandemic in recent years, a lot of residential services emerged above. And we think that any residential-related services can be included in the Azit ecosystem, which means there are plenty of potential for expanding our service.
Q5. Real estate is subject to a lot of attention and regulation from the government. Regarding this, is it possible to connect nft to the business without crossing the line? Is it possible to do business in the direction you want? Have you done a legal review?
A5. I know that there are many issues about segmented investing in intellectual property and real estate recently. However, our Azit NFT is not in a form of selling land or selling real-life property in exchange of NFTs for proof. In our case, as you asked, the legal risk factor is not likely to be large. Of course, apart from the question, all of our businesses are legally reviewed.
The NFT that the Azit team is preparing is partially related to the Azit service, but while maintaining the concept of Azit, we are thinking more about what benefits it can provide to NFT holders while the NFT itself holds strong value.
There are people that see NFTs for investment purposes, but we want to make a project that becomes more valuable as time passed rather than the NFT that you can sell at the time of launch and make a profit in a short period of time. As more concrete issues emerge, we will disclose about our NFT step by step. As a small start, we are preparing our first event soon, so please stayed tuned!
Q6. When recruiting Azit supporters, the reward was not specific, is there any reason?
A6. There is an internal table of compensation for supporters. Since it is currently in its early stage, we will start with a small group of people in order to establish a more systemized program as we go along. We expect the community to be more active through supporters, and supporters will receive appropriate rewards in AZIT tokens according to their activities that are related to Azit.
Q7. Klaytn-based NFT bubble seems to have blown out quite a bit, don’t you think it’s a bit late for NFT?
A7. As you said, there seems to be a lot of projects that arose and disappeared like a spark during the recent bubble.
Our Azit team is not only looking at NFT as a temporary investment value but is aiming for a project that can share value over a long period of time. Rather, I think surviving in a bubble-free situation is more meaningful.
Q8. Why did you name the project Azit?
A8. When you hear the word Azit, the thoughts that come to mind are the place where you always gather with your friends when you were young, a place where there is vague excitement that something interesting is going to happen, and just a comfortable space to crash. But as a grownup I wondered where my Azit would be, it came to a conclusion that it was a space called home.
Your own precious space becomes the Azit, and our goal is to provide a variety of services with various benefits so that everyone’s precious Azit can become a comfortable space as much as possible.