Ferrum Network / Crypto Eagles AMA
A recap of the recent AMA conducted by Crypto Eagles along with our EVP of Community Relations, Nick Odio.
For those of you who missed the live event, here is a recap of the recent AMA conducted by Crypto Eagles along with Ferrum’s EVP of Community Relations, Nick Odio.
Kamran Akbar ✪:
Welcome to CRYPTO EAGLES Mr.Nick. How are you doing man?
Nick Odio ( Guest):
Hey everyone! It’s a real pleasure to be here. Thanks @kamran503 and the entire Crypto Eagles team for having me! I’m looking forward to talking Ferrum!
I’m doing great! Thanks for asking. How’re you!?
Kamran Akbar ✪:
I am perfect today haha. Shall we start our AMA?
Here is your first question
Q1:First of all, Nick please introduce yourself with me and my community. What’s your role in Ferrum?
Nick Odio ( Guest):
Of course. Hey everyone! My name is Nick Odio and I am the Executive Vice President of Strategic Partnerships and Community Relations at Ferrum Network… and yes, I am aware that that is an extremely long title lol.
Kamran Akbar ✪:
Welcome nick, now let’s move towards the main facet now
Q2: What is the Ferrum Network Ecosystem? Can you give us a brief introduction of Ferrum ecosystem?
Nick Odio ( Guest):
Well I’m not sure if I can be brief but I’ll try… I’m not sure if there is a single project out there that covers the amount of territory that Ferrum does. I think this answer is two fold though and needs to be looked at from two different perspectives. Who is Ferrum to other projects in the space? And who is Ferrum to its community of FRM/FRMx holders?
In terms of who Ferrum is to other projects in the space, Ferrum is best described as a Blockchain as a Service company. Projects are at liberty to use Ferrum’s services in whatever capacity they see fit. What Ferrum provides for the projects it chooses to incubate is unmatched.
However, it goes far beyond the incubation element. Ferrum’s Fair Launch technology is the Industry’s leading anti-bot technology that projects are choosing to use during the DEX listings. Ferrum also has its Staking as a Service product which allows projects an easy to use white label staking solution that can be purchased from Ferrum to provide their token with immediate utility. Ferrum is just days away from launching its white label Token Bridge solution. This will give projects a direct path toward creating liquidity for their token on multiple chains aside from Ethereum. All of these services are all generating their own streams of revenue which all ends up being invested back into the company to ensure the company continues to grow. There are quite a few more products in the pipeline that we are excited to share.
Thats just the project side though. There’s an entirely different ecosystem for our token holders.
Kamran Akbar ✪:
I know very well that one text is not enough to understand Ferrum network but we will try to explore it maximum today
Q3: What is the secret to Ferrum’s success? It seems most if not all of the projects you touch, turns to gold in terms of ROI. Can you share your secret with us?
Nick Odio ( Guest):
Good question! Before I joined the company I used to ask myself this question all the time. After being a part of the initial meetings with the projects that we choose to incubate the answer has become increasingly obvious. The co-founders Ian and the rest of the Ferrum team are geniuses in the realms of fundamental analysis, determining market fit, and understanding the best opportunities for the Ferrum community in terms of token metrics.
The truth is, Ferrum turns down about 10 projects for every 1 that it chooses to incubate. Most of the projects that Ferrum turns down are great projects too. This is just a testament to the standards that Ferrum holds itself to. If the fit isn’t absolutely perfect, we’ve got a dozen more waiting to be vetted out.
Kamran Akbar ✪:
That’s the real thing, you just need to hold Ferrum in UniFyre wallet and that’s all. Personally, I have got some allocations of Ferrum and those were gem for me. Gave me huge profit
Everyone should understand this that risk level is lower than 0 percent and $FRM will never disappoint anyone.
I never expect such good answers from you
Nick Odio ( Guest):
Thanks my man! This is fun!
Kamran Akbar ✪:
Here is the next question
Q4: What are some of Ferrum’s top incubated projects that investors should know about?
Nick Odio ( Guest):
This is tough to answer as all of the projects we choose to work with are phenomenal projects. A few of the projects that Ferrum has incubated through to launch are solving some real pain points in the industry right now. Poolz has proven to be one of the more reliable IDO platforms in the space. Bondly has turned out to be one of the go to NFT platforms. Lastly, one that is just beginning to scratch the surface of its potential is Ureeqa. What they are creating has a really strong chance at becoming the gold standard for copyright and IP protection by validating NFTs.
Some of the projects on Ferrum’s current roadmap that I am really excited about are…
Babylon — Its the first community driven NFT marketplace on BSC which is huge because fees on OpenSea and the like are outrageous. They’re stacked with incredible artists as well.
IBETYOU — I think this one will surprise a lot of people. The team is incredibly hard working and they are about to be announcing some cross chain partnerships that will blow some minds.
NetVRk- Soon to be launched NetVRk, I believe will prove to be the most sophisticated VR play in the space. I don’t think any other platform in the space even comes close to competing with what these guys have created.
Kamran Akbar ✪:
Here is the next question.It’s time to talk about boss
Q5: What are the use cases of Ferrum token and how is it different from other tokens? Nick Odio ( Guest):
Ferrum tries not to do anything that doesn’t add value to the FRM token and the Ferrum Community. I think it’s important to include FRMx in the conversation here as we created FRMx to encourage the incentive and reward based aspects of the ecosystem while maintaining a deflationary nature to FRM. With all of the hype around private sales and launchpads, the most obvious utility lately has been that by holding both tokens you are granted access to incredibly lucrative early stage investment opportunities. However, there are so many aspects that are being overlooked which really put Ferrum in a league of its own. The private sale aspect is just one element of the ecosystem whereas most projects that provide this service don’t do much outside of that.
- FRM is used as gas fees for token bridge swaps between Ethereum and BSC
- FRM is stakeable through our web based staking platform and Unifyre wallet
- By holding FRM in your Unifyre wallet you are entitled to monthly FRMx rewards
- Fees that projects pay for staking go toward FRM buybacks.
I love that question by the way! We’ve got so much more in the works in terms of utility!
Kamran Akbar ✪:
Gradually up,up and up! It was Life changing for many people in past and I know it is going to change life of thousands more in coming times.
Q6: How does Ferrum’s guaranteed allocations work and how can people like myself participate if I want to get guaranteed allocations in the future?
Nick Odio ( Guest):
We just recently announced that we have dropped our guaranteed access tier from 50K FRM to just 25k FRM. The barrier to entry is far lower than most launchpads in the space. You can find out more about that here.
One of the things that sets us apart is how stress free our whole private sale process is. No gas wars, no FCFS and theres plenty of time to get your allocations in. Basically, all you have to do is hold the minimum amount of FRM/FRMx in your Unifyre wallet and you will receive guaranteed allocations. We also have a lottery system for our smaller holders as well though and from what I’ve seen the chances are much higher than what you often see with launchpads…
Kamran Akbar ✪:
25k FRM and guaranteed allocation. You don’t need to run behind Presales full of risks. Be patience and check it out guys
@cryptodio here is your next question
Q7: It seems Ferrum’s staking model is one of the most used and highly revered in the crypto space. What makes Ferrum’s staking technology so sought after and special?
Nick Odio ( Guest):
Good question! Apart from being extremely user friendly and offering some of the best annualized returns in the industry, Ferrum’s staking technology is also a white label staking solution. White label means that instead of each projects community members coming to Ferrum to use staking, each project can integrate Ferrum’s Staking technology directly into their own website and market with their own branding.
Kamran Akbar ✪:
Ahmmm here is question no. 8 for you
Q8: I heard you guys are coming out with a “token bridge”. Can you tell me about that? Nick Odio ( Guest):
Yes! This ones exciting! As with our Staking as a Service solution, our Token Bridge aims to be a white label solution as well. It’s no secret that projects are aiming to have cross chain liquidity especially with the rapid rise of BSC. Therefore, in V1 of the bridge, projects will have the capability to bridge ERC-20 to BEP-20 or vice versa with many more integrated chains on the roadmap. Not to mention projects can brand it as their own and have it live on their own website. Our Token Bridge is fully functional and we are about to start offering the service to other projects very soon!
Kamran Akbar ✪:
I am looking forward to it .Here is the 2nd last question from my side
Q9: Congratulations on Ferrum’s very 1st Client NFT drop on Opensea! I heard from across the grape vines of how successful it was and all of the crazy utility that comes with Ferrum’s NFT projects. Can you remind us what makes these NFTs so special, and can we look forward to any new drops in the future?
Nick Odio ( Guest):
Thank you! Yeah this was honestly way too much fun. BK The Artist and the folks at Vapor95 are not only extremely talented but they were also a real joy to work with. NetVRk providing these artists with virtual art galleries coupled with the fact that these were the very first Responsibly Minted NFTs that came with a robust Package of Proof from UREEQA is absolutely historical.
As far as the utility goes, Ferrum once again found itself in a position to add tons of value to its community. In this case I don’t think there was another project in the space that is better suited to provide the level of service and utility that Ferrum brought to its clients and community.
These NFTs, outside of being incredible works of art, had a tremendous amount of utility packed into them. These NFTs came with a total of 10,000 $NTVRK and 400 $URQA airdropped tokens. But that wasn’t all, any owner of this NFT is now entitled to 0.1 allocations worth of airdropped private sale tokens for every project that Ferrum Advisory Services launches. In PERPETUITY! To qualify for that same allocation, one would need to hold 10,000 $FRM. So when these things went for up to over 9 ETH, we weren’t exactly surprised but it further validated the notion that everything Ferrum touches turns to gold.
As far as what we can expect for future drops, Ferrum is not done making a name for itself in the NFT space. One thing we will always try to do in conjunction with adding value to the community is add utility to FRM and FRMx themselves. We’ve already got some ideas as to how we will be able to do even more the next time around. Stay tuned!
Kamran Akbar ✪:
I want to repeat my words again. Just be with $FRM and $FRM will never disappoint you in any way. Here is the last question from my side and then flood of questions is waiting for you @cryptodio
Q10: What are some of the future plans for Ferrum? Is there anything your project is working on under the radar that our viewers should be prepared for? Is there anything we should be excited about?
Nick Odio ( Guest):
Oh man! There is so much happening at Ferrum it’s literally insane. It’s to the point that we’re hiring like crazy so that we can keep up with the amount of products, ideas and initiatives that we have in the pipeline. It’s funny, when we huddle as a team in the morning its a running joke that “Crypto moves quickly, but we move at Ferrum Speed. Precise, calculated and twice as fast”.
We’ve discussed the token bridge already. We also have a dashboard for the community to view all of their Ferrum related needs in one location. I don’t want to say too much but we have some massive products in the works for Ferrum Advisory Services. I’ll drop a little easter egg that the community should be on the lookout for some industry changing staking updates
Here some Questions from crypto Eagle community
Nick Odio ( Guest) and Taha Abbasi (Guest) received more than 3800+ Questions from the community.They answered a lot of questions. But main question here from community !!
1. Do your team have a professional background and sufficient experience in different fields? As the project develops, will new members from different sectors be added to your Team?
Nick Odio ( Guest)
Yes! This is one of the most professional teams that I’ve ever worked with. There are folks on the team that have worked with NASA, National Geographic, fortune 500 companies, given TedX Talks, we even have lawyers on the team. We are working on hiring even more rockstars as we scale.
2. Most of projects that come under Ferrum Advisory Services easily touch 20x after presale, what is the hidden secret behind that? I mean what are major things that Ferrum team adopt for the success of that project?
Taha Abbasi (Guest)
We believe in Value Investing. We evaluate more than just the projects idea. We look into the team, their ability to present and articulate their idea, their ability to handle obstacles, and then we evaluate the idea, it’s market fit.
A lot of what Ferrum does from an incubation standpoint is inspired by the leading incubators in the world such as YC and Techstars.
We also provide resources and support in addition to simply incubating a project. We assess the gaps in the project / team and use our resources to help fill those gaps to ensure the projects succeed well beyond our incubation.
3. We have witnessed that many projects initiated with inexperienced team members fail due to easily preventable and simple mistakes. Are the experience and career of your team enough to avoid simple mistakes? What are the data that will make us trust your team?
Taha Abbasi (Guest)
Great question!
In addition to a team who has extensive crypto experience, our team is comprised of experts from the traditional business space as well. We continue to hire sought after industry experts to continuously increase the talent and skill level that is helping build Ferrum.
A brief overview of some of the latest additions to our team:
Business and Technological Strategy
We are proud to have team members on board with educational backgrounds from prestigious universities, including Harvard, MIT Sloan, and more. Members of our team have helped contribute to the MARS 2020 and Europa Missions at JPL Labs with NASA, advised and led as the Project CTO for National Geographic Channel SG, and built large-scale applications that serve millions of users worldwide. We also have highly sought-after industry experts who have helped strategize, create, launch and manage the auction of NFTs that have grossed over $5 million in sales thus far.
Entertainment, Influencers, Brands
Members of our team in this sector have worked with or have connections in the entertainment industry, high-profile athletes, celebrities, brands, and influencers. Some of these team members have personally recorded music for a few Grammy award-winning artists, including Rick Ross, Chris Brown, Scott Storch, and Mario.
Members of our team in this sector bring tremendous depth of relationships and connections with relevant industries that are essential to ensure a successful NFT drop.
Brand and Asset Protection
Members of our team in this sector bring over 10 years of industry expertise to the table. These team members have spent the last decade helping manage digital brand assets and providing brand advisory services at CSC (Corporation Service Company). CSC manages the incorporation of 90% of Fortune 500 companies. It’s quite possible some of your business portfolios are managed by them.
4. What are the long term visions of your project? why you choose blockchain and what problems do you intend to solve?
Nick Odio ( Guest)
Ferrum’s mission from day one has been to remove the barriers to mass adoption. Ferrum is well on its way to becoming a one stop DeFi shop. From staking to bridging to early investment opportunities, Ferrum aims to be one of the most user friendly and rewarding companies in the industry. From where we started with Kudi Exchange to the Unifyre wallet to many of our main focuses today, its apparent that Ferrum’s goal is to bring decentralized financial services and products to the masses!
5. What where some challenges faced by the team from the Project concept to execution and how were able to properly manage and overcome them?
Taha Abbasi (Guest)
We were born in the bear market.
Our name Ferrum comes from the latin variation of the word Iron. There is a lot of corelation with why we picked our name and how we managed to thrive in the bear market. As you know the process of forming Iron is quite intense, this is exactly how Ferrum was formed and managed to thrive in the bear market. The team and our organization improves when it faces obstacles, we figure out pioneering solutions instead of succumbing to the problems ahead of us.
We faced a multitude of unforseen obstacles during the bear market, but focued on building new products and finding a product-market fit. This led to us developing products that solve real world problems that many crypto projects face. This is why we have over 50 projects currently using our staking services and growing by the day. More projects are utilizing our anti-bot services to protect their communities and we’re announcing products in this quarter that almost every cross chain project will use.
We are now solving problems that come with scaling a company quickly. As we grow from a small but high qualified team to a larger and extremely talented and diverse team, we are implementing principles of scale that have worked at organizaitons like Amazon, Apple, Facebook and Google.
We are bringing those real world scaling principles to crypto so we can position appropriately to be an eventual resident of the Top 50 coin club.
By implementing these approaches designed to help companies scale, we’re enabling the organization to hire hundreds and eventually thousands of new team members effectively and grow our product development and community servicing ability and speed.
These are the same principles that allowed companies like Amazon to hire over 500,000 new team members in one year and still scale effectively. One example is the 2 Pizza Team approach, i.e. as we grow our company size, we segregate teams into dozens of smaller teams with 8 to 10 people who build, deploye, and manage their own products in a decentralized manner. We put in KPI controls that allow us to manage and keep a pulse on our company through a centralized dashboard.
I’m really excited about what we are building and the value we’ll be able to bring to the crypto community as a result of these important evolutionary steps Ferum is taking.
6. Which one of these aspects is important for you?
i-Increasing Token Price & Value
ii-Empowering Platform Development
iii-Building Community Trust
iv-Expanding Partnership Globally V- IN what order?
Taha Abbasi (Guest)
This is a great question.
We believe in creating value through product development, community empowerment, and strategic partnerships.
Which means the order in which we create value is as follows:
1-Build Great Products/Empowering Platform Development
2-Involve the community
Get community feedback and buy in during product development to gain trust, then execute on deliverables — Building Community Trust
3-Strategic Partnerships
Establish strategic partnerships to promote, and expanding the products reach and adoption — Expanding Partnership Globally
All of these setups will result in a sustained increase in Token Price & Value instead of short-term pump and dumps.
Ferrum Network Social Media
Ferrum Website: https://ferrum.network/
Telegram: http://telegram.ferrum.network
Twitter: http://twitter.ferrum.network
