Welcome everyone! The time for the Xverse X COINKO Interview has finally come!
COINKO:
Hello, I’m Jerome Kim, and I will conduct today’s interview!
Today Brian Park, Marketing Director for XVerse, will talk about the Metaverse with blockchain and the intrinsic value of the NFT ecosystem.
And before we begin, Brian, please introduce yourself!
Xverse:
My name is Brian ,and I am the Global Marketing Director for Xverse. I have been working in the crypto industry since 2017 and have led marketing for numerous projects and exchanges, and am excited to be working with the Xverse team. My role is to plan and execute the global marketing strategy, and ensure steady long term growth of our project, sharing the news and updates to the community, and finding new opportunities to grow our business!
COINKO:
Your record is very interesting! I guess this is why people from our community are interested in your project.
Could you please introduce Xverse briefly for users who meet your project first?
Xverse:
XVERSE is a social metaverse ecosystem being built on the Solana network.
To put it simply, we are building the tools and foundations for a metaverse platform allowing users to interact and connect with each other.
Currently our ecosystem revolves around two core services, MyPick and RO:Mong.
MyPick is our NFT collection platform, allowing users to purchase rare and exclusive NFTs commissioned on behalf of our partners.
In addition users will be able to generate their own personal avatar, and customize their avatar using NFT cosmetics.
Within the platform will be a social community where users can discuss and share their NFT collections, and also minigames including MyGround (decentralized board game), that allows users to bring their unique avatars into online multiplayer games!
MyPick will also feature a marketplace, allowing users to buy, sell, and trade their NFT items with other users!
Ro:Mong is our upcoming virtual world, where users will be able to freely roam around and explore various environments using their MyPick avatars.
Some things that you can expect in Ro:Mong, would be to go shopping at a virtual mall , going on virtual dates with other users, going skydiving off of mountains, anything that the user can imagine, will be available to do.
This is in part due to our SDK that will allow developers to create their own virtual environments on top of the Ro:Mong platform.
COINKO:
Great!
Now, let me ask you a few questions from COINKO about the Metaverse with blockchain and the NFT ecosystem.
Agenda Q&A with COINKO
COINKO:
First of all, In Korea, the government held an event at Minecraft to commemorate Children’s Day, and Zepeto, a metaverse platform of Naver, has more than 200 million subscribers. Likewise, After the Corona season, the importance of metaverse has emerged not only in the blockchain industry but also in various industries. Btw, The metaverse platforms described above were not built based on blockchain.
What are the strengths of Xverse by adopting blockchain technology in Metaverse and Why do you think blockchain is very important to metaverse ecosystem
Xverse:
Great question.At a lower level, we can see that there are benefits to both decentralization and centralization when it comes to a metaverse. I think the importance lies in the ultimate vision of the metaverse being created. For example, if we are to truly seek a metaverse as an alternative to current reality, with a thriving economy and constant user transactions, utilizing blockchain technology to bring transparency and openness in terms of transaction history and ownership rights is crucial.
COINKO:
Yeah, sometimes basic narrative is very important to explain one’s own identity. We all know the movie ‘Ready Player one’ which explains the metaverse. After the movie, we all know blockchain technology is very important on metaverse, and opens the new world.
Second, There are various perspectives on NFT. Some say it’s just a collection, and others say it can be another identity. But everyone above believes that NFT has its own intrinsic value. Likewise, The Bank of Korea also recognized the intrinsic value of NFT, and active research is being conducted from the private sector to government ministries.
<Source> http://news.heraldcorp.com/view.php?ud=20210603000717
Explain the use case of NFT on your platform, and explain what intrinsic value it has and what benefits users have when they own it.
Xverse:
The value of NFTs within the Xverse ecosystem can be based on scarcity in regards to a supply and demand foundation. The idea is that by creating scarcity in regards to a number of items available, the demand for the benefits that come with holding that item can bring forth intrinsic value. For example, if a Land Plot NFT is required for one to be a landlord in the Xverse metaverse, and there is a limited supply available, then user demand for that item will allow the market to settle at an equilibrium price.
With that said, as user-generated items will be represented by NFTs as well, users will be able to buy and sell user-generated items within our marketplace.
Just as in the real world, A fake Rolex is worth a lot less than a real Rolex, but that does not mean that there is no market for fake rolexs. It’s just a lot cheaper.
In that sense, while users are incentivized to create high quality NFTs with true value, we believe it is a self fulfilling cycle creating intrinsic value through demand.
COINKO:
From now on, everyone knows well that NFT can be a variety of use cases on your platform, but most importantly, the value will shine more with the growth of your metaverse itself.
Last, Please describe your strategy to grow the whole metaverse & NFT market and describe your eagerness for the users who don’t know why they should select you.
Xverse:
Please describe your plan / strategy and Aspirations. It will be better to add infographics.
Our goal is to build a completely new metaverse relative to the others in development. In order to do so, our focus is on building something that users want. Sure, some may downplay the metaverse hype as temporary, but we truly believe in the future of the metaverse.
With the NFTs in the Xverse ecosystem, our main competitive advantage would be our partners. For example, we are currently working with Korean rapper DOK2 on creating fan-based NFTs.
https://en.wikipedia.org/wiki/Dok2
By working with famous artists and celebrities, we solve the issue of mass adoption of NFTs as well, as many of these artists hold large fanbases, ensuring a healthy demand for rare and exclusive items of their favorite artist.
DOK2 is just the start, we have many famous brands and artists in the works (will be announced very soon! I promise!), and by creating these limited edition NFTs we believe that there is true value to be found within our ecosystem.
In addition, as users are able to create their own NFTs and sell them to other users, users will be incentivized to create high quality NFTs with demand, rather than just minting low-effort NFTs.In order to bring new users onboard, we plan to offer dynamic events, along with exclusive NFTs in collaboration with famous brands and artists.
The bottom line is that the service has to be very fun & easy to play. Then we believe new users will increase rapidly, not to mention we have a long term strategy in place to bring new users onto our platform.
Currently we expect to launch our initial round of NFTs featuring famous KPOP artists, and we expect that their fans will be interested even though they are not traditional crypto investors.
This is just an example of some of the bigger things we have planned.
COINKO:
Thank you for your detailed answers. Now, it’s time for the users’ questions! All the winners will get 10 $50 USDC each from this session! Are you ready to go brian?
Xverse:
Let’s go.
User Q&A
COINKO:
Q1 @hyejung947
Most investors are only interested in the immediate benefits rather than the real long-term value of the project. How can you convince investors to invest in your platform over the long term?
Xverse:
First, we have closed our Seed and Private rounds and raised over $2.7 Million dollars, from major investors including Animoca Brands, Vestigium, Genesis Block Ventures and many other great firms. We’re very thankful for the support from our early investors, and are constantly working together to ensure long-term success.
https://www.prnewswire.com/news-releases/xverse-completes-strategic-investment-round-to-debut-metaverse-nft-marketplace-301313461.html?tc=eml_cleartime
Funds are not an issue, as our investors truly believe in what we’re building and have pledged their support. In addition, we have set aside our budget for years of runway and complete development of everything we’re planning.
COINKO:
Q2 @Zipponcrush
How strong is this platform against competition & how to attract recruit members or customers
Xverse:
Of course, our view on this is that the more users we bring into our ecosystem, the more added value that is created.
In order to bring new users onboard, we plan to offer dynamic events, along with exclusive NFTs in collaboration with famous brands and artists.
The bottom line is that the service has to be very fun & easy to play. Then we believe new users will increase rapidly, not to mention we have a long term strategy in place to bring new users onto our platform.
Currently we expect to launch our initial round of NFTs featuring famous KPOP artists, and we expect that their fans will be interested even though they are not traditional crypto investors.
This is just an example of some of the bigger things we have planned.
Having these strategic partners, and strong backing from our early supporters I think is what puts us above our competitors. These days its really easy for anyone to start a project or mint an NFT, but its hard to get people interested. On the other hand, the strong support we have from our backers, shows that not only do they believe in our team, but also have strong faith in the metaverse that we’re building.
COINKO:
Q3 @VadaYoung
How many communities do you have now ? What kinds of support wants from the community?
Xverse:
So currently we are working with global partners , and developing strong loyal communities across different countries including Vietnam, Indonesia and Korea (where we’re from!) is a major priority for us. We have a large network of global partners who are excited for the $XVC metaverse, and are working with us to ensure that we grow strong communities across various regions.
We understand that English is not the first language for most of the people globally, and as a result within our Xverse metaverse, users will be able to form their own communities based on their own interests, experiences, and interact in a language that is native too them!
In addition our reputation system will incentivize high quality work, and by constantly providing good content and showing yourself as a good contributor to the community, on top of personal fame, we think that users will have many opportunities to grow their own personal goals.
We’re all moving to the metaverse, and the community has a chance to mark their spot!
COINKO:
Q4 @TereasaRidgeway
Please tell us the Main Role of tokens in the Ecosystem? How can the Community earn passive income with tokens? How many Incentives does token offer to the community?
Xverse:
XVC is the main currency within the Xverse ecosystem and is used across all platform services.
Passive income is a bit tricky to answer because as the XVC token is made to be a currency, its designed to be spent.
One way for users to make money is to offer artwork / contents (NFTs) to other users across our marketplace.
I would like to mention that as the ecosystem grows further, we expect to see user-created income opportunities arrive. For example a user may choose to offer an in-game concert and earn income from ticket sales. Or a creator might create an amusement park and charge an entrance fee. As the boundaries are limitless, I think just like the real world, the opportunities to earn income derive from a users own imagination.
COINKO:
Q5 @TamioStep
As a community based project, How can I support for Xverse’s success? Do you have a Global Ambassador Program or a Referral Rewards System?
Xverse:
First, we would like to thank you for your support. Both of the things you have mentioned including an ambassador program, along with a referral system are in the works and are planned to be incorporated into the Xverse ecosystem in the near future. For our project to succeed we understand we need a strong and loyal user base, and we are constantly working to create new avenues and channels to bring users into the Xverse world.
COINKO:
Q6 @BethanySlone
Blockchain has many disadvantages as well, How do you plan to merge blockchain as well as existing technology to make it more secure?
Xverse:
Sure, I think it’s a good time to mention that blockchain technology is still relatively new, and as a result there are a lot of functions that might be more efficient in a centralized manner. As a blockchain project, In the long-term full decentralization is our ultimate goal. Yet we understand that with the current limitations of blockchain technology it is difficult to fully decentralize every aspect of a metaverse. As a result, we’ve put important details (user data, NFTs, transactions) on the blockchain, while also putting our metaverse servers and marketplace services onto a private server where we are able to ensure efficiency.
COINKO:
Q7 @nairaymond
Please explain your plans on global expansion, Q1) is it only market you are focusing All the time? Q2) Or you focus on building or developing and getting customers and users, or partnerships?
Xverse:
We believe that our metaverse has global appeal, and as a result our long-term goal is to have a presence and community across ever region. With that said, while we understand the importance of Marketing, we are working hard to ensure that we have a working product and use case before heavy marketing exposure. Too many projects these days make promises, and build up large communities, raise a huge amount then slowly fade out of existence. We do not want to be like those projects.
As a result, our team is constantly focused on growth, in terms of users, but also in terms of market placement and partnerships, as we understand the role that our metaverse will play in the long-term.
COINKO:
Q8 @bhlee4980
If “XBlock,” is launched, applications using metabus are expected to increase explosively. I would like to know the progress of the development of “XBlock” and the official platform launch schedule.
Xverse:
Xblock is referring to our blockchain integration of the XVerse services. Currently, our MyPick service has entered beta, and we’re planning on opening the marketplace very shortly. Next in the works is our MyGround game, allowing users to bring their MyPick NFT avatars in a real online PVP game.
Finally, our Ro:Mong metaverse will also feature Xblock integration, and items within the metaverse will be transacted utilizing blockchain technology.
COINKO:
Q9 @jlaudybell
Users can create their digital identity in the #Xverse.How can the users create their digital identity on the platform? Will you be using a biometrics system in creating the digital identity? And how will the platform ensure the identity, safety and uniqueness of each user?
Xverse:
Our concept of a digital identity refers to the actions and results of each user within our metaverse.
Similar to how your customization choices in real life, the places you go, the people you meet define your identity, within the Xverse ecosystem your digital identity is crafted in the same way.
Users can differentiate themselves from other users through deep customization of their avatars. Users will be able to outfit their avatar with a wide variety of items to ensure that their “identity” is unique.
In addition, within the Ro:mong service, each user will only be allowed to create one login account. Users will shape their digital identity within Ro:Mong by customizing their avatars and creating their own virtual environment and space.
As users interact with the platform and other users, these interactions are recorded by our service algorithm (in case of abusers, trolling).
The use of facial recognition (biometrics) to create an unique avatar, while not required, is an additional option as well to help define your digital identity even further.
COINKO:
Q10 @ushinoyume
Just receiving investment from the Anymoca brands is very interesting. I wonder what are the rare things you are confident in in the metabus market.
Xverse:
We are very grateful to have Animoca Brands as a partner, as we are well aware of their prowess within the Metaverse industry. We believe that the future of the internet lies in the metaverse and are confident that the industry will grow massively over the next few years.
Already, we can see large corporations venturing into the metaverse, and as we are already connected 24/7 digitally to the internet, it’s a natural progression for us to move into a digital world as well.
Closing
COINKO:
Thank you for your detailed replies! I’m sure that users were able to learn a lot from this interview. In particular, among the questions and answers from the users, the perspective of the use case of NFTs on your metaverse is very interesting. I can’t wait to see when we can acquire virtual identity through avatars. Brian, anything to say last?
Xverse:
Thank you for your time. I invite everyone that is interested to join our telegram https://t.me/xversecommunity for the latest updates on the metaverse that we are building.
We have big things planned for the next few months, and are excited for everyone to join us on the journey.
I hope to meet each and everyone of you in the Metaverse.
Thank you
COINKO:
Thank you for your participation, again :) Hope this interview is a good opportunity for all users to know more about xverse.
Xverse
DECORATE THE WORLD WITH YOUR IMAGINATION
Xverse is an open blockchain platform for real-time metaverse and digital twins. Users can freely create and work on Metaverse content using studio functions and VR/AR SDK on Xverse platform in the near future. Xverse opened Mypick service, a solar chain-based fan service community, and successfully conducted Genesis NFT DROP, and announced the issuance of NFTs by first-generation rappers Axe and Double K, leading the community’s response. Xverse investors include Solana Capital, Animoca Brands, GBV, CMS Holdings, Vestigium, and Blocore.
📖 Related Link
Website: https://xverse.ai/
Telegram: https://t.me/xversecommunity
Medium: https://xverse-official.medium.com/
Twitter: https://twitter.com/Xverseofficial
