AMA Luis Carranza and Titans Ventures

Part 1. Overview questions with Maru Nguyen of Titans Ventures

Q 1. First, please give us a brief introduction about yourself and the Fayre project.

Luis: My name is Luis Carranza. I was born in El Salvador, grew up in the US and moved to London 13 years ago. I came to the UK to help brands navigate the new world of digital, which at the time included mobile and social media.
I also started running crypto and Fintech events in 2014. I ran over three dozen crypto events in 12 different cities from 2014–2019. In 2019 I sold the events business and soon after got involved in crypto exchanges.

In the earlier part of last year I was Head of Marketing at Boson Protocol, and just after finishing my contract I decided to launch Fayre. The company brings together my background in brands and crypto.
Fayre is an old English spelling of “fair” or “fare”. It’s a place where people buy, sell and trade, and there is also entertainment. I thought it would be a good name since we’re creating a marketplace and also exploring metaverse and P2E.

Q 2. Could you explain some of the notable features that make Fayre competitive with other NFT gaming platforms?

Luis: Fayre has several elements that make it distinctive.

1. The marketplace with 1% fees. These can be further reduced to zero with the FayreCard NFT or by holding $FAYRE tokens.
2. We’re creating a brand dashboard so that NFT drops can be managed like brand pages. Brand owners can communicate and offer exclusives.
3. We have a companion app that lets you take the NFTs out on the road. You can verify them in retail outlets or stadiums, and also unlock benefits or other NFTs.
4. We have some metaverse opportunities in our longer-term roadmap: Spanish-language metaverse and a Portuguese-language metaverse.
5. We’re going big on eSports activations. We see NFTs, metaverse and esports as technologies will which converge in the future, so we’re exploring this space.

Lots to unpack here, but then that’s what makes Fayre unique.

Q 3. Is there any hot news or big events that Fayre is planning to use in order to achieve mass adoption, both locally and globally?

Luis: We have our token launch coming up in a few weeks and our market MVP launching shortly, so we will have lots of exciting developments to announce in the near future.

We’re in discussion with major sports teams and leagues, various racing entities, celebrities and brands. Expect a series of announcements soon!

Part 2. Pre-collected questions from Twitter

PQ 1. Fayre’s long-term goal is to build Web3 modular components. But the most important thing is the widespread adoption of the concept. How do you plan to attract fans and, most importantly, content creators to Fayre? What are the different ways you plan to achieve this adoption?

Luis: We’re in discussion only with entities that already have an established fan base. Currently, we are trying to close at least three league-level deals. Signing a team is great, and securing a league deal gives you scale. For this reason, every organisation we talk to about NFT drops should have fans already. Our job is to engage them.

So Fayre will always be paired with someone or something famous. This is effective in PR terms, but also a great way to scale.

PQ 2. Can you tell me about the use cases of NFTs in the Fayre metaverse — how can users generate profits from them? Please share your upcoming plans to unlock the market’s full potential, to compete with other NFT marketplaces.

Luis: Our first competitive offering is 1% standard fees, which can be lowered to zero for members. Once we launch our metaverse offering, $FAYRE will be the native currency and Fayre token holders will receive early access and discounts.

We can generate profits from percentage of partner drops, our own NFT sales, and virtual meta real estate sales. As an ecosystem, we have multiple ways to generate value for the ecosystem, and produce revenue.

PQ 3. One of the limitations of some P2E games is that they require a high initial investment to start playing. Can we start playing #FayreLabs with a small investment? Will there be any discounts or benefits for early adopters?

Luis: Yes, discounts and exclusive early access will be offered. We have a few P2E projects in the Fayre ecosystem at the planning stage. One is an avatar fighting game and others include esports racing. The starting point will be accessible to more people.

The initial market that we’re launching at MVP will be the traditional ETH/MetaMask setup, since most blue chip NFTs follow this format.
Our phase 2 will introduce low gas chains and bridging between chains. This is a product for the near future.

At the moment, there is plenty of volume on OpenSea that can be brought our way. So, easy access is coming soon. But the first product is aimed at traditional NFT buyers.

PQ 4. Many people still don’t have much idea of how NFTs work and how to acquire them. Is Fayre beginner-friendly in the world of NFTs? Are there other ways for fans and brands to earn more NFTs or airdrops from Fayre?

Luis: We’re planning to make it easier for people to buy NFTs on Fayre, but this takes more time. We will use MoonPay, so you won’t need crypto to buy, and we’re exploring different mobile-first methods of custody to make it easier to buy NFTs from anywhere in the world.

PQ 5. We know that the widespread use of NFTs is changing the way many systems work today. So, what mechanisms will #Fayrelab install in the future that will set them apart in today’s NFT markets? What benefits or advantages do we gain from your ecosystem?

Luis: We’re moving into a world of utility NFTs, where brands can offer NFTs value by engaging communities with exclusive content and benefits. In the new world, NFTs will be easier to buy, and even to trade or exchange for other NFTs more often.

We’re building a more inclusive market, with lower fees and enhanced features offline. So it’s a vastly different proposition.

Part 3. Questions from the live Telegram chat

LQ 1. Partners are the most important elements that strengthen the ecosystems of all projects. Could you tell us about your project partners and the partnership strategy you have adopted?

Luis: We’re focusing on brands, sports and celeb partnerships that believe we can add value to their NFTs, and they can add value to us by making Fayre a household name.

LQ 2: Have you been audited? Every investor craves security of funds, and plans to escape in case of insecurity of funds, scams and rug pulls. How strong are your security measures?

Luis: We have had one token audit and are currently working on a second one. We’ll share the results in our Medium.

LQ 3: What achievements have been obtained during the project? Are there any unfulfilled achievements from the past year?

Luis: We’ve raised $3.8m and we joined Outlier Ventures. We have been building and planning, so the only thing I wish we had achieved already is the MVP, and that is weeks away.

LQ 4: Many projects promise magic, but never release any working product or show any revenue within a short/long time of launch. Is your project like this? If not, can you tell us what makes your project different from others?

Luis: We do have a lot of magic planned, and we plan to deliver as much as possible. We have a strong tech team and we’re working hard to deliver.

LQ 5:Staking NFTs is very hot right now. Do you think you will apply NFT technology to your products in the future?

Luis: We would only do this with a staking partner at this point. We want to focus on engagement, but staking NFTs is something that could be possible in the future, with the right partner.

Maru Nguyen, Titans Ventures:
Luis — it was a pleasure having you to share this detailed information about Fayre, as well as some key products and the future roadmap.

Thank you so much for spending time with our community and we wish you all the very best for Fayre. We really appreciate the keen participation of our great community as well.

To learn more, visit our website and follow us on our social media channels:

· Join our Telegram community to see our whitepaper (updated version, 1.6) and real-time news

· Subscribe to our Telegram announcements channel

· Follow us on Twitter @FayreLabs.