Hello everyone. This is the ‘Fancy’est blockchain platform FNCY.
Last night, we had an AMA with Coinone — one of the major crypto exchanges in South Korea. It was a priceless moment to have the opportunity to communicate with Korean users after being rebranded as FNCY.
The AMA was done in Coinone Telegram channel. We asked for questions about FNCY in advance and we answered some of the questions. We were amazed by the number of questions gathered and the quality of those.
We would like to thank you once again for having so much interest in our project.
Here is to those who missed last night’s AMA.
Introduce FNCY Project
The vision that FNCY seeks to achieve is the realization of blockchain in daily life. We are building a Web3 ecosystem where allows anyone to be part of it without deeply knowing blockchain knowledge.
You can enjoy all forms of entertainment like games, NFT, metaverse and more under a same roof of FNCY which is built for scalability and accessiibility with flexible side chain solution.
Q1) Introduce FNCY Team
FNCY is the name of the platform as well as that of it’s own mainnet. Over 200 members divided into many teams like wallet and blockchain infrastructure developement team, metaverse contents team, business deveopment teams and so many more. FNCY platform is offering not only gaming, but also web-toon, web-novel, NFT, e-commerce, social, metaverse and more to enjoy within the one platform. We are creating a complete ecosystem where all values across from Web2 to Web3 through collaboration with multiple brands connect to our daily lives.
Q2) Cube has rebranded as FNCY, why did you make the change?
The big difference between CUBE and FNCY is the own mainnet. With our own system, it is the foundation for providing not just a blockchain gaming platform, but a wide range of our services across online and offline.
Rebranding was necessary since we made a big decision to reduce the total supply. We sought after the name that resonates with the public. We wanted to be a place where users feel attracted to visit. So we grab the word ‘Fancy’ which has a meaning ‘a feeling of attraction’ as well as to tribute to our parent company Netmarble F&C, we decided FNCY by dropping ‘A’.
Q2) Why did you choose to build your own mainnet rather than using other blockchain network?
What’s behind building our own mainnet is to create a room for simple and intuitive user experience.
For example, when we launched a P2E game with $ITAMCUBE, earning rewards and transferring NFT into one’s wallet and more everything was full of hassles. Also users were forced to get extra crypto currency for gas fee. However all the hassles are gone with our own mainnet. We can minimize the complex process and at the same time we can deduct or exempt from gas fee by the number of transactions.
Offering user friendly service along with providing a pleasant blockchain environment and more was one of our key reasons to build our own mainnet. Thus $FNCY plays a diverse role and values as the platform coin.
Q4) It caught my attention because it is a project where easily accessible without blockchain knowledge. How do you explain FNCY to a friends who is not familiar with the blockchain terms even ‘Web3’.
FNCY platform aims to offer various and joyful entertainment without the border between Web2 and Web3. This means that we have an easy environment where there is no need for forcing users to learn blockchain knowledge.
Creating wallet in FNCY platform is as easy and natural as creating account. Also, Earning and consuming rewards while enjoying various entertainment is designed to be as same experience as Web2 platforms. You can use FNCY coin like using coupon points when buying something online and all the digital assets can be tradable peer-to-peer.
Q5) What are the short and long term goals of FNCY?
Still the majority of people have no crypto wallet and experiencing blockchain service without knowledge is difficult for the public. But our aim is to maximize user convenience for the realization of bringing blockchain in daily life. WIth FNCY PC launcher or App, you can enjoy all: crypto wallet, transaction, social, metaverse and so on. We designed the process of registration, verification, and payment method to look like Web2 service. This way, we can bring mass adoption without having to realize that it’s a blockchain service.
Ultimately we try to become a blockchain platform that sticks to daily life activities like spending digital assets across on and offline as well as p2p trading.
Q6) Please explain the tokenomics of FNCY
$FNCY is a Native Asset in FNCY Blockchain and it is what user pays the fee to the node that handles requested transaction.
1 billion of $FNCY issued at Genesis Block(Epoch 0) is for swapping $ITAMCUBE that exists on Ethereum and BSC Chain. The reward distribution will be automatically distributed to the predefined address in onchain governance.
40% of the number of minted per block(2 FNCY) will be used for Ecosystem Fund to maintain sustainable ecosystem of FNCY network, Ecosystem Fund will be used for the following:
- Fund for $FNCY Single Staking Services for Initial Critical Mass Acquisition for Minimum Sustainable Economy (MSE)
- Fund to build a healthy and virtuous DeFi ecosystem of FNCY networks
- Used for marketing (Airdrop) to secure initial users using FNCY networks (game services, content services, NFTs, etc.)
You can check all the details of TRS, allocation and more about FNCY in the whitepaper: https://whitepaper.fncy.world/
Q7) Could you share the milestone, roadmap of FNCY?
We are discussing with lots of brands at the moment. Not only our own games but also 3rd party games will be onboarded to FNCY.
We plan to complete the system structure based on membership and rewards. Also a user-created web-novel and web-comics blockchain platform, music metaverse where songwriters and users can interact, social & e-commerce and collaborative NFT projects with various IP.
One of the biggest projects is metaverse content and we will release a teaser soon.
Q8) There are many games displayed in FNCY website. Is NFT necessary to enjoy the game, or are they free to play?
Every games on FNCY do not require NFT. Most of them are free-to-play, but some are sold as package like ones in Steam. Games in traditional PC, mobile, console, web will be provided as intertwined with blockchain based membership and rewards through FNCY. We intend not to onboard simple mining play-to-earn games to the platform.
Q9) I know IRRIS NFT Minting has started. Please explain how I can get one.
The free NFT airdrop event of IRRIS, new K-pop girl group presented by TAEWON Entertainment, is now on going. You can apply for the NFT here in FNCY website https://fncy.world/nfts/irris before 15th of December. Holder of the NFT will enjoy discount benefits to new NFT and merch related to IRRIS. We have more NFT project coming.
Q10) Please explain the partnership plans.
Up until now, we have signed strategic partnerships with several corporations from different industries and we are communicating with brands from Web2 to Web3 for collaborative projects. We will soon release new announcements like games, digital contents, e-commerce. Very soon, you will find collaborative partnership announcements with Sunmiya Club presented by FSN which has the most NFT fandom in South Korea ,and BAGC with an official BAYC IP.
Extra Question
Q1) Investors are eyeing on the number of supply of each project’s token/coin due to the recent Wemix issue. Is FNCY open information like this to the public transparently?
FNCY: Yes, transparency is one of our core values. So all information, transactions are open to the public and you can check them in the FNCY Scan. Addition to that, we publicize the circulation supply and tokenomics in Xangle!
FNCY Scan: https://fncyscan.fncy.world/
Xangle: https://xangle.io/project/FNCY/key-info
Q2) It would hit the jackpot if we could bring Web2 users to Web3. Do you have plans to grab Web2 users?
FNCY: We believe FNCY can appeal to Web2 users by offering digital ownership and p2p digital asset trading through blockchain. So we are actively communicating with game publishers to intertwine traditional game IP with FNCY reward system. With the system, we were able to create simple user flow that allows users to enjoy without actually knowing the technology. Also through collaboration with different kinds of brands and IPs, we are planning blockchain based benefit programs for both previous customers and FNCY.
Q3) Many other big companies are expected to join the Web3 industry, how do you plan to stand out and expand the business?
Collaboration with lots of corporations is the key pillar of FNCY since the beginning. Our biggest advantage is that we have casual and accessible entertainment with our gaming background. We are not just planning collaborative NFT, but also an environment where holders can enjoy the benefits in both reality and digital world. In addition, there will be promotional halls and brands space in our own metaverse , providing true Web3 onboarding merits.
It was a delightful moment because it was our first time to officially talk to Korean users after the mainnet launch. We were overwhelmed by the number of questions you wanted to know about FNCY. We wish we had more time to answer every question.However we all know that this is just a beginning. Thank you all for supporting FNCY and we will be communicating with you more frequently.
Please look forward to where FNCY is going next.
Thank you.
⭐New FNCY Channels⭐
▶️ FNCY Telegram: https://t.me/FNCY_Official
▶️️ FNCY Twitter: https://twitter.com/FNCYofficial
▶ FNCY Facebook: https://www.facebook.com/fncy.official/
▶ FNCY Youtube: https://bit.ly/3faQbQj
▶ FNCY Medium: https://medium.com/fncy
⭐App Download⭐
[Android] Go to GOOGLE PLAY STORE
[IOS] Go to APPLE APP STORE
