AMA Recap: InteractWith
Date: March 9th, 2023
Host: Skinny G
Guest: Adam Rozi — CEO
Hello, Raccoon family and crypto enthusiasts!
We recently hosted an AMA with InteractWith. Here’s the AMA transcript for those who missed the live session. We sincerely hope you have as much fun reading it as we did while running the AMA!
Introductory Questions
SkinnyG | DeFiRaccoons: Hope you are all ready #raccoonfam! Today we’re having another educational AMA with Adam Rozichner from InteractWith!
As you know there will be 2 parts, the muted part where me and Adam will be talking about InteractWith in general aswell as the latest news and updates! Then we’ll unmute and have the community ask questions and some winners will be chosen. We’ll also choose some twitter questions while we’re at it. A total prizepool of $100 (2 live chat and 2 twitter qs will be winning $25 each).
So Adam, without further ado, can you please briefly tell us who you are and what your role at InteractWith consists of?
Adam Rozi | InteractWith: So, I’m Adam, a 35-year-old Israeli-American living in Tel Aviv and I’ve been in crypto since 2017. In these past 6 years, I’ve been leading the blockchain department in Deloitte (Big4) Strategy and then was part of a founding team that took a blockchain company public on the Tel Aviv Stock Exchange and today provides fintech solutions for financial institutions in Israel. In the last 8 months, I’ve been working full-time on InteractWith as CEO and It's been such a crazy ride! We’ve managed to accomplish so much in such a short period of time and I couldn’t prouder of our team.
SkinnyG | DeFiRaccoons: Very impressive, always great to see Founders from a traditional finance background make the transition into Web3. I myself come from an accounting background and decided to rather put my efforts into Web3 and building into the future!
So Adam could you give the raccoons the infamous elevator pitch on what InteractWith stands for and what its purpose is in this crypto space?
Adam Rozi | InteractWith: InteractWith is a plug-and-play solution that makes it easy for businesses and individuals to utilize web3 and add blockchain capabilities to their apps. Our mission is to empower people to take control of their digital lives and participate in the emerging crypto economy. Whether you’re a developer looking to integrate blockchain technology into your application, or an everyday user who wants to safely store and manage their crypto assets, InteractWith has you covered.
We stand for accelerating the adoption of web3 technology for web2 brands and apps. And our journey is centered around building a more secure, transparent, and accessible future for all.
SkinnyG | DeFiRaccoons: Seeing my favourite words right there “Bringing adoption”! So could you tell us abit more about where inspiration for your name “InteractWith” came from?
Adam Rozi | InteractWith: It came from the most basic need that we all are looking for our whole lives, Interactions. And our ability to enable app developers and game studios to “Interact with” the blockchain!
SkinnyG | DeFiRaccoons: Absolutely brilliant! Very true especially us early Web3 users love to interact with the blockchain! What are the primary services or products that Interactwith offers?
Adam Rozi | InteractWith: We offer several products and services that help individuals and businesses transition from web2 to web3-based platforms. One of these products is a fiat-to-NFT payment system that allows users to purchase NFTs using traditional payment methods such as credit/debit cards and bank transfers. This system aims to make the purchase of NFTs more accessible to a much wider audience, including those who are not familiar with web3.
Another product is our dashboard which provides app developers and game studios with a one-stop-shop place to get all the data and analytics on their user's web3 behavior. This dashboard simplifies the process of tracking and managing multiple NFTs across different platforms, making it easier for brands to keep track of their activity and users.
In the future, we plan to launch a social wallet that will allow users to store and manage their digital assets, including NFTs, in a user-friendly and secure way. This social wallet will also feature social media integration, allowing users to easily share and trade their NFTs with their friends and followers. Overall, InteractWith’s products and services aim to make the world of web3 and NFTs more accessible and user-friendly to a wider audience.
SkinnyG | DeFiRaccoons: Love to see that the focus really is all about bringing adoption!
So the fiat-to-NFT platform could you touch on this a bit more? How would it work exactly for users who already have wallets etc? Would I for example be able to purchase an NFT with fiat dollars and get it send to my wallet?
Adam Rozi | InteractWith: That's exactly right! Any user will be able to mint in-app items as NFTs directly into his\her wallet. In case that user is new to crypto and doesn’t have a wallet yet, we got him covered with our InteractWallet which will be super easy to understand and highly gamified. In case the user already has a wallet, he can select to send it directly to his MetaMask or another solution.
SkinnyG | DeFiRaccoons: That changes everything, so anybody will be able to use it. I still remember how confusing and intimidating it was when I first started using my own wallet, so stream lining the process into an easy user experience is absolutely great! So with regards to the InteractWallet how many chains will it support at launch or is that Alpha which can not be shared yet?
Adam Rozi | InteractWith: Hahaha we’d prefer to keep it to ourselves at the moment but you can assume support for all the popular chains including all EVM ones, BSC, and honestly whatever the market and our community decide they want to prioritize.
SkinnyG | DeFiRaccoons: Oh yes, I think I may have found a new wallet, looking forward to hearing more about it when you share more details in the future!
Can you describe the range of customers and industries that InteractWith aims to works with, and how does the InteractWith ensure its services and products are customized to meet their specific needs and requirements?
Adam Rozi | InteractWith: InteractWith infrastructure was created to meet the broadest needs of any app developer or game studio. Our platform is flexible and modular in a way that allows us as a company to onboard many different types of customers in a decentralized, SaaS kind of model.
We plan to tackle the games sector first as the use case for minting in-game items is the easiest to understand. Then lifestyle, entertainment and travel, and much more! We have the ability to handle small indie games that only need the support to integrate NFT minting capabilities in their app or big brands that need white-label contracts or marketplaces.
SkinnyG | DeFiRaccoons: How would the onboarding of Indie projects work to use your platform? If the project is focused on collectibles for example and in-game assets?
Adam Rozi | InteractWith: We know that many indie games suffer from relatively small communities so our plan is to create a place for them to get exposure and acquire new users by launching dedicated NFT airdrops in our social wallet feed. Thus becoming a type of web3 Roblox for indie games. It mostly depends on the brand we’re working with as the value accrues in different places in each one of these brands. And we’d like to help them uncover this untapped potential!
SkinnyG | DeFiRaccoons: I think we still have so much to see in Blockchain Tech so the potential is unlimited at this point.
How does Interactwith differentiate itself from its competitors in the market?
Adam Rozi | InteractWith: That's a great question! We separate ourselves in 3 things:
1. Ease of use
2. Gamified UX
3. Strong partnerships!
We’ve established several partnerships and collaborations with leading companies and platforms in the blockchain and crypto space, as well as traditional industries. These partnerships are aimed at expanding the company’s reach, enhancing its product offerings, and providing more value to its users. One of InteractWith’s key partnerships is with Stripe, a leading online payments platform. Through this partnership, InteractWith is able to offer its users a seamless and secure fiat-to-crypto onramp for NFT purchases. This helps to bridge the gap between traditional finance and the blockchain world, making it easier for non-crypto users to get involved in the NFT space.
Another important partner is OKxChain, a global cryptocurrency exchange and blockchain network. InteractWith has integrated with OKxChain, allowing its users to mint NFTs directly from the integrated apps to the OKXChain. This integration partnership includes an introduction to web2 brands that are onboarding to the OKXchain such as Starbucks in Asia.
InteractWith has also partnered with ZKSync, a layer-2 scaling solution for Ethereum. This collaboration helps to reduce gas fees and increase transaction speed for our users.
InteractWith has also partnered with The Graph, a decentralized indexing protocol for querying blockchain data. This partnership allows InteractWith to provide real-time NFT metadata and other blockchain data to its users.
Other notable partnerships and collaborations include NFTrade, a cross-chain NFT marketplace; Poolz, a decentralized cross-chain IDO platform; Gifto, a platform for creating and exchanging virtual gifts using blockchain technology; Unilend, a decentralized lending platform; Biconomy, a platform for simplifying blockchain transactions that we are leveraging to our social wallet; and Aurora, a decentralized finance (DeFi) platform. These partnerships enable InteractWith to offer a wider range of services and enhance the user experience for its customers.
Looking to the future, we plan to continue to build strategic partnerships and collaborations with companies and platforms that align with its mission and values. By working with these partners, InteractWith aims to create a more seamless and accessible blockchain and NFT ecosystem for users around the world.
SkinnyG | DeFiRaccoons: So InteractWith really is paving a new standard for the entire industry! ZKSync is a really great solution, fantastic to see you partnered with them! InteractWith has been praised for its plug-and-play solution that simplifies the integration of blockchain technology into games. Can you explain how this solution works and how it can contribute to the wider adoption of blockchain in the gaming industry?
Adam Rozi | InteractWith: Firstly, our solution makes it significantly easier for game developers to integrate blockchain technology into their games. Traditionally, integrating blockchain into games has been a complex and time-consuming process, requiring developers to have a deep understanding of blockchain technology and its underlying protocols. With InteractWith’s plug-and-play solution, developers can easily integrate blockchain functionality into their games with just a few lines of code, without needing to have any understanding of blockchain technology.
Secondly, our solution helps to solve the problem of user adoption of web3-based games. Many users are hesitant to use blockchain-based games because they are unfamiliar with the technology and find it difficult to use. InteractWith’s solution addresses this issue by providing a seamless and familiar user experience, making it easy for users to interact with blockchain-based games without needing to understand the underlying technology.
Thirdly, our solution helps to increase the overall adoption of blockchain technology in gaming by making it more accessible to a wider range of developers and gamers. This will help to grow the ecosystem and encourage more developers to build web3-based games, leading to a wider range of innovative and engaging games for users to enjoy.
Overall I’d like to believe we’re making it significantly easier for developers to integrate blockchain technology into their games, solving the problem of user adoption, and making blockchain more accessible to a wider range of developers and gamers.
SkinnyG | DeFiRaccoons: An easy to use UX is absolutely vital, especially for adoption. Just to ask an open question do you think that the Call of Duty franchise would ever consider going on chain with its in game assets?
Adam Rozi | InteractWith: Honestly I think they’re crazy not to consider it.
They have one of the most loyal communities out there and could easily create additional user experiences and monetization mechanisms that will provide their users with enjoyable digital experiences.
SkinnyG | DeFiRaccoons: It would be amazing to see these AAA platforms make the transiton then I wont feel bad for all the money I spent on in-game skins in the past.
As InteractWith offers game developers a user-friendly and cost-effective solution to integrate blockchain into their games without requiring coding expertise. Can you elaborate on how the plug-and-play solution functions and what advantages it presents to game developers?
Adam Rozi | InteractWith: Basically we offer a plug-and-play solution for game developers to easily integrate web3 into their games without requiring any coding knowledge or upfront costs. This solution works by providing a set of APIs, SDKs, a dashboard, and a wallet that developers can easily integrate into any game or app. The platform is designed to provide a seamless experience for both game developers and players, allowing for easy integration of blockchain functionality without disrupting the overall gameplay experience.
One of the key benefits of our solution is that it allows game developers to take advantage of the benefits of web3 without having to invest significant time or resources into developing their own blockchain infrastructure. This makes it easier for smaller game developers to compete with larger companies in the industry, as they can quickly and easily create innovative business models and monetization channels.
Another benefit of our solution is that it allows game developers to offer new and innovative game mechanics that are not possible with traditional, centralized gaming systems. For example, blockchain technology can enable true ownership of in-game items, allowing players to buy, sell, and trade items without the need for a centralized marketplace or middleman. This can lead to more engaging gameplay experiences and a stronger sense of community among players.
SkinnyG | DeFiRaccoons: Making it easy to implement is absolutely brilliant, we here at DeFi Raccoons love any project which focuses on adoption! Looking at the company’s roadmap, what are the key priorities for InteractWith in the near future? Additionally, how is the company ensuring that it has adequate funding and a strong community to achieve these objectives?
Adam Rozi | InteractWith: The next priority is the development and launch of our social wallet, which is a unique product that will allow users to easily manage, send and receive NFTs and crypto while having many social features such as group and community chats, news feed, airdrop feed and more. This is an important step for the company, as it represents a significant move towards setting the stage for mainstream adoption of NFTs.
In order to achieve this goal, we will need to ensure that we have enough funds and a strong community to support the development and launch of our social wallet. The company has recently completed a successful seed and private funding rounds, and with the public round next week should provide sufficient funds to carry out this development. Additionally, InteractWith has been actively building its community through various marketing and outreach efforts, such as attending blockchain conferences and events, partnering with other blockchain projects, and engaging with its users through social media and community channels.
Furthermore, the company is also exploring potential partnerships with social media platforms in order to increase the visibility and accessibility of the social wallet. By integrating with popular social media platforms, we can tap into a much wider audience of non-crypto users, which is critical for driving mainstream adoption of our platform. With sufficient funds and a strong community, and potential partnerships with social media platforms, the company is well positioned to achieve this goal and drive mainstream adoption of our product.
SkinnyG | DeFiRaccoons: Are we still able to take part in the public round next week? And I have to agree with you community plays a vital role in ensuring a project thrives! The team at InteractWith has nothing to worry about basically all current users are pushing for adoption, so I am sure they will be supporting your cause to making Blockchain accessible to the masses!
Adam Rozi | InteractWith: Yes! You can participate via one of our launchpads :)
SkinnyG | DeFiRaccoons: Which launchpads will the public round be on?
Adam Rozi | InteractWith: Poolz, Enjinstarter, Bullperks, GamesPad and Bybit are our launchpad partners.
SkinnyG | DeFiRaccoons: To achieve mainstream adoption, it is vital to attract non-crypto users. Does InteractWith have any strategies in place to appeal to non-crypto users? Are there any upcoming collaborations that could help bring real-use cases and non-crypto users to the platform?
Adam Rozi | InteractWith: Yes, attracting non-crypto users is a critical part of our strategy for mainstream adoption. We believe that in order for blockchain and web3 to truly become mainstream, it needs to be accessible to a wider audience beyond the current crypto-twitter community.
To that end, we have several initiatives in place to attract non-crypto users to our platform. One of our key offerings is our fiat-to-crypto onramp, which allows users to easily purchase NFTs using their credit or debit cards, without the need for any prior knowledge or experience with crypto. This helps to lower the barrier to entry and make it more accessible to a wider audience.
Additionally, we are actively seeking partnerships with companies and platforms that have a large non-crypto user base. By integrating our technology with these platforms, we can introduce blockchain and web3 to their user base in a way that is seamless and user-friendly.
In terms of upcoming partnerships, we are currently in talks with several companies that have large non-crypto user bases, including gaming platforms, social media platforms and outlets, and e-commerce marketplaces. By partnering with these companies, we can introduce our technology to their user base and create real-world use cases for blockchain and NFTs in particular.
Our thesis is that by making blockchain and NFTs more accessible to non-crypto users and creating real-world use cases, we can help drive mainstream adoption and unlock the full potential of this amazing technology.
SkinnyG | DeFiRaccoons: InteractWith has demonstrated success in the market, but what are the plans for global expansion? Is the company focusing more on building and developing its technology, acquiring new customers and users, or forming strategic partnerships to expand its reach and impact on the market?
Adam Rozi | InteractWith: We’re focused on a balanced approach to global expansion, with a strong emphasis on both building and developing our technology and forming strategic partnerships to expand our reach and impact on the market.
On the technology front, We’re continually working to improve our products and services, including the fiat to NFT payment system, dashboard, and social wallet (in the near future). The company is committed to staying at the forefront of web3 technology and is constantly exploring new ways to enhance its offerings and make them more user-friendly.
At the same time, we are actively seeking out partnerships with other companies and organizations in the crypto and non-crypto space. By collaborating with like-minded companies, we aim to create a stronger and more robust ecosystem that can benefit all participants. These partnerships may take the form of joint ventures, strategic investments, or other types of collaborations.
In addition, we are also focused on acquiring new customers and users, both in existing markets and in new territories. By building strong relationships with customers and providing them with valuable products and services, our aim is to continue growing our user base and expanding our reach around the world.
Twitter Questions
Q1: I see “InteractWith Dashboard” as a reliable and easy-to-use tool to integrate web3 technologies into their gaming applications. So, what level of knowledge should they have to use this dashboard tool? What features and tools does InteractWith Dashboard offer to facilitate this?
Adam Rozi | InteractWith: Great question — so we’ve built the dashboard to be the most intuitive platform in the market for integrating web3 technology. Meaning that we have many resources, tutorials, and even live customer support team to ensure smooth onboarding and seamless integration for our app developers and game studios. So the app developers don’t really need to know anything before coming. We’ve got all the info and support they will ever need!
Q2: I understand that InteractWith offers excellent tools to application developers, but if I’m not one of those developers, then can’t I use your technology somehow? Could you only participate as an investor of your native token and that’s it?
Adam Rozi | InteractWith: There are many ways to participate in our project as a user — the first example is simply to mint an In-game item as an NFT using our payment system that supports Fiat. Once the wallet will be ready, in about 4–5 months, any user will be able to download our wallet and use it to store and manage his\her NFTs and digital assets. At the moment the easiest way is to become part of our community and to join our socials channels and engage with us.
Q3: I read about InteractWallet in your whitepaper and am interested in learning more about how it will integrate with web3 gaming. Can you explain how InteractWallet will improve users’ gaming experiences and what types of assets and games it will support?
Adam Rozi | InteractWith: Our strategy is to create the most simple and easy to use digital asset wallet, so that any game could integrate it, no matter the level of sophistication of the developers. InteractWith was founded on the belief that web3 has the potential to elevate and improve the gaming experience. This is because of the financial aspect that is added to the experience, creating higher Dopamine release in our brain, for a more engaging and capturing user experience.
Q4: How many monetization tools does InteractWith offer game and app developers to maximize their revenue potential? What opportunities do you see for game and app developers to monetize their work through the use of blockchain technology?
Adam Rozi | InteractWith: Our offering currently includes a main monetization tools in the shape of a Fiat to NFT payment system for apps. our business model is to charge $3–5 from the user for minting an In-game item as NFT. We split the revenue with the app developers so that they make revenue from day1 of integration. In the future we see much more possibilities to monetize by utilizing web3 ,the use cases are becoming clearer as the industry matures.
Live Audience Questions
Q1: One of the core products of InteractWith is “The Minter” which has a unique Checkout system as a key feature. Can you talk about the Checkout system of The Minter product? How does this checkout system work and what’s special about it? Finally, for users interested in minting assets using InteractWith’s API, are fees going to be in FIAT or crypto?
Adam Rozi | InteractWith: Sure — the checkout system allows you to select an item from the app you’d like to mint as an NFT, then you choose to what blockchain you’d like to mint it to, then you are queried if like to pay in crypto or fiat, if you choose Fiat you are requested to insert credit card number. A few seconds after payment is confirmed the NFT is created, and sent directly to your wallet.
Q2: I was able to notice that all the products and services offered by InteratWith are completely free and without any kind of limitations. Can you explain to us how the central team is financed to continue building then? Will the capital come from the pocket of the team or the partners? Do you plan to charge for your services at some point?
Adam Rozi | InteractWith: Thanks for this question — We offer our core features for free to the app devs and game studios, meaning as a freemium plan. Our main source of income is the $3–5 we charge from the users for minting in-game items as NFTs to a blockchain of their choice. We also offer white-label marketplaces services which is a separate source of income for the company.
Q3: How important is the community to you? and how can we collaborate or help you for the development of the project?
Adam Rozi | InteractWith: The community is everything to us! We are nothing without you all supporting us to build the future of web3 adoption!
Q4: Do you have Whitepaper if yes, please share it with as secondly do you have plans for pre-sale? Now where can we join it?
Adam Rozi | InteractWith: We are conducting our IDO next week on the 15,16,17 of March of tier1 launchpads: Poolz, Enjinstarter, Bullperks and Bybit. This will be the only public sale we do of our token so don’t miss out on the opportunity to participate! https://docs.interactwith.com/docs/whitepaper/intro
InteractWith
Telegram: https://t.me/Interactwithofficial
Twitter: https://twitter.com/_InteractWith
Website: https://interactwith.com/
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