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Introduction AMA

Q1. Johnny: Please introduce yourselves and tell us what you did before crypto?

Henry Joo: I’m the COO at DigiCol. I’m deeply familiar with launching emerging decentralized products into the Japanese and South Korean markets. These markets are extremely important for cryptocurrency projects given the extremely high level of activity from retail investors in these markets. I was also directly involved with the incubation and launch of Pokemon Go in the Japanese market. Pokemon Go quickly became a viral phenomenon in the Japanese market and I played a key role in ensuring that the application was optimized for the domestic market. Now I’m ready to bring DigiCol into the Korean and Japanese Market.

Eric Shim: I’m the CEO at DigiCol. I have vast expertise in guiding the implementation of blockchain infrastructure within enterprises. I spent the past three years at Hanwha Group helping financial enterprises optimize their digital strategy. With my track record of guiding leading enterprises to successfully deploy various digital businesses, I’m prepared to lead the efforts to design and deploy DigiCol.

David Lee: I’m the CMO at DigiCol. I have experience designing and delivering startups in both the Western and Asian markets. My exceptional ability has been recognized in even the world’s epicentre of startup activity. In 2017, I was awarded first place in the Silicon Valley startup competition at San Jose University. The calibre of my startup was further rewarded with a seed round investment from the Korean government and he also received accolades from Korea’s Minister of Education. Now I’m ready to make DigiCol a success.

Andy Cheung: I’m Andy Cheung. Advisor of DigiCol. Founder of ACDX, the world’s first crypto derivatives exchange offering structured products. Also Co-founder of BitWork, OKEx; Former OKEx COO. Before crypto, I was the CEO of Groupon Hong Kong; also worked in Alibaba Group at the early stage.

Johnny: Thanks, guys. What a great team and background!

Q2. Adouble212: What is the aim for DigiCol since there are many NFT marketplace out there?

Eric Shim: DigiCol basically aims to offer one-click NFT creation with no coding required, which lowers the entry barrier for normal users. So, users can create their own digital collectibles and earn rewards (DGCL) by launching them into a liquid NFT marketplace.

Adouble212: One click and boom! My own NFT 😊

Eric Shim: Also, NFT owners can unlock liquidity in ETH, USDT, or DGCL by locking their NFTs as collateral. Yes, more important to User eXperience

Johnny: Definitely makes it easy for anyone to get involved! We can make some Spectre NFTs easily 😁 I’m looking forward to testing it out. I will as soon as possible and after I buy bags of DGCL! Speaking of DGCL.

Q3. Johnny: Is there any way that I get DGCL without buying from exchanges?

Eric Shim: Yes, $DGCL is used to reward digital collectible creators every time their collectible is being traded. $DGCL should be earned by active participation on the platform. We reserved a certain number of tokens to be issued every week, with 50% reserved for buyers, and 50% for sellers.
Details will be provided when our beta platform launches at the end of Q1 2021.

Adouble212: Real utility!

Johnny: Awesome I can’t wait for the platform to go live and earn some DGCL from my Spectre NFTs!

Eric Shim: I think it will be really useful!

Q4. Adouble212: How does the collateralized loan work, can you explain a bit more?

Eric Shim: You know, there are two parts, the borrower part, and the lender part. A Borrower can put any NFT up for collateralization. Other users can offer a loan. If the borrower accepts the offered loan, the ETH, USDT, or DGCL gets paid out from the lender’s account to the borrower and the borrower’s NFT gets locked in the DigiCol smart contract. Once the borrower repays the loan the asset will be transferred back to the borrower. If the borrower doesn’t pay back the total repayment amount before the due date, the asset will be transferred to the lender. Now, it is a lender part. A lender can browse his favorite NFTs like domain names, decentraland assets, crypto kitties, or any other NFT and offer loans on assets he’s happy to back.

Johnny: This is great, this is a feature I didn’t even realize was coming!

Eric Shim: In case the borrower doesn’t pay back the loan the lender gets the asset. Small, short term loans to other people can offer attractive returns.

Adouble212: Well thought out system!

Eric Shim: My philosophy is to make it more practical than before.

Q5. Johnny: Will there be a burning mechanism for the token?🔥

Eric Shim: 🔥 It will be integrated in the future.🔥 We will consider a small fee whenever creating or trading an NFT. This fee will then go to a wallet connected to a smart contract that buys up DGCL tokens from the market with the generated fees and then burns these tokens.

Johnny: That will help bring more value to the DGCL token. 🔥🔥🔥🔥

Q6. Adouble212: You’ve been often compared with Rarible, what are the differences, and what gives you an edge?

Eric Shim: It’s a quite boring question to me haha. DigiCol’s token — DGCL has several distinct use cases which makes it unique. With DGCL tokens it becomes possible to have fractional ownership in NFT assets for example. The most valuable assets in any investment niche are often unavailable to the majority as they require high levels of wealth to purchase. This phenomenon was also accurate in the past NFT hype with some assets selling for over $100,000. DGCL tokens enable holders to acquire fractional ownership in an NFT. This removes the barriers to entry for acquiring some of the most valuable NFTs. Also, DigiCol incorporates DeFi functionality in its platform.

Johnny: Wow so basically the NFT gets sharded into many parts so anyone can be a partial owner?

Eric Shim: Yes it is. Those that own NFTs on the DigiCol platform utilizes the tokens as collateral to borrow assets like Ethereum and USDT. DigiCol will operate a liquidity pool to facilitate this DeFi functionality. Those that provide liquidity to the pool will also be rewarded.

Johnny: Sounds like you will have much more features than the competition

Eric Shim: I don’t want to compare it to the existing common platforms.

Johnny: Understood you guys are doing your own thing and it looks impressive!

Q7. Johnny: What do you think is the biggest merit of NFT as an investment asset?

Eric Shim: The Non Fungible Token market seems to have ended with the creation of CrytoKitties, but they are witnessing a new NFT age like BTC. A lot of projects and marketplaces are emerging also thanks to the explosion of DeFi and decentralized exchanges.

Adouble212: DigiCol > CryptoKitties thats for sure!

Eric Shim: NFT has a lot of values like cars or house, cause the tokens are unique and indivisible. So, it will take time, but I’m pretty sure there will be more worthwhile NFTs trading in the future. Maybe you know, I watched a news

Johnny: No doubt that NFT’s are going to be a giant market 🚀

Eric Shim: In fact, on the 14th of December, a work of art produced by digital artist ‘Beeple’ on the NFT trading platform ‘Nifty Gateway’ and published on the NFT was sold for $777,777 (worth of 120 ETH). Could you feel the value going up?

Johnny: 👀 I hope my Spectre NFT sells for this! 😄 That’s unbelievable

Eric Shim: Welcome to DigiCol!

Q8. Johnny: What is your ultimate vision for the NFT and DigiCol?

Eric Shim: Umm. Firstly, you know that we are really working hard to make DigiCol a success. So, we want to be a unique platform in the world.
About NFT market, I think DeFi using virtual assets and blockchain emerged as a keyword to lead the blockchain industry in 2020, and the industry is paying attention to NFT as the next keyword that will lead the market. NFT is issued based on a variety of real assets ranging from game items, intellectual property rights, real estate, and fashion, and is expected to exert synergy as it is combined with new technologies such as DeFi and virtual reality. DigiCol, with the slogan of “One-Click NFT Creation,” is gradually changing the NFT environment so that users can easily enter it and will provide a complete infrastructure for next-generation NFT adoption.

Johnny: 100 percent agree with this

Eric Shim: We will be the center of the NFT megatrend!

Johnny: NFT market is going to be huge and I think Digicol is going to be a big part of it. Very impressive guys. I’m looking forward to the launch

Eric Shim: There are still few well-built platforms like the institutional market. We can change it!

Adouble212: You guys were awesome! One of the most if not the most professional team.

Johnny: Thank you so much for doing the AMA with us

Johnny: Let’s do one more question and then open it up for general questions from the community!

Community AMA

Q1. What are the requirements for DigiCol users to create NFT? all users can make it?

Eric Shim: Sure. Anyone can join our platform and use One-Click service like using Google. The most important point on our platform is easy and convenient.

Q2. For a successful project, a strong technical team is very important! What do you think is the biggest advantage that enables the team to lead the market? Apart from your weakness, how do you plan to overcome it?

Eric Shim: We have the higher competitiveness than other tokens as we do IEO on ACDX exchange. Also, we really focus not only about the platform, but the quality of the artworks. I think our weakness is only that it is still less famous than the existing platform. We have a lot of plans to run various marketing promotions with experts.

Q3. Can you tell us some of your partners in Digicol, what type of partners do you plan to work with in the near future?

Eric Shim: Actually, it’s still a secret. However, to inform only those involved here, we will announce partnerships with renowned companies having a lot of great arts soon.

Q4. What are the ways that generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and Digicol ?

Eric Shim: Revenue is generated through our marketing collaborations with well known collectible producers. Whenever their digital collectibles are traded we do receive a fee. The long term vision is that each of their physical goods comes with a digital one too.

Q5. What are the differences between DigiCol 1.0 and DigiCol 2.0 Beta ? When will it fully released ? Will you only offer your own NFT solution or will you offer access to established NFT applications as well via your Mobile app?

Eric Shim: Anyone interested in DigiCol probably knows it. The difference in between this stages are the physical collectible producer who are on boarded at these moments.

We will release first a NFT wallet for IOS and Android, later the creation will be possible through a mobile application. With the motto of One-Click, we will implement an environment that can be accessed from any user interface.

Adouble212: Thanks Eric! You guys have been great!

Eric Shim: Cool. I really appreciate guys attentions.
Andy Cheung: Thanks guys!
Henry Joo: Thank you!
David Lee: Thank you for attention! It’s an honor to be able to do AMA on the best crypto channel.
Johnny: Thank you all! It was pleasure having you

Follow Us

Twitter: https://twitter.com/DigiColofficial

Medium: https://medium.com/@digicol

Substack: https://digicol.substack.com/

Telegram: https://t.me/digicolofficial

Telegram News Announcement: https://t.me/digicolnews



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“One Click Create” your own digital collectibles