AMA RECAP: GTA Ventures x AFEN Blockchain Group
On May 2nd, Deborah Ojengbede — CEO of AFEN Blockchain Group with GTA Ventures hosted an AMA Zoom live stream session at GTA Community. A lot of questions about AFEN Blockchain core, missions, and plans were sent.
This post includes a recap of the live AMA session and features the questions asked by community members, as well as the answers. You can watch the whole live stream session here.
Part 1: Introduction
1. Would you introduce yourself to the GTA Trading Community? Your background and why do you create Afen?
I’m honored to be here with you today. AFEN is really dear to me and I’m committed to its progress. I’ve always been a lover of futuristic technology and when I got introduced to Crypto, I was elated to be in such a space. Of course, being in such a space made me ask certain questions like, How can this be beneficial to Africa. We indeed need improvement in a lot of sectors and what better way to do it than to leverage on blockchain technology. Yeah, this is the framework that led to the birth of AFEN.
2. Can you describe what Afen is in a sentence?
AFEN is here to provide new opportunities for existing sectors through blockchain technology.
3. What is the vision and mission of Afen?
Revolutionizing Opportunities Through Blockchain Technology
We aim to become a leading hub for African Blockchain-related collaborations with a focus on Decentralized Finance, Arts, Real Estate and Education. AFEN has the objective of combining blockchain’s immutable data structure and the backing of government bodies to provide legitimacy to products.
Part 2: Questions from GTA to Afen
1. What advantages does Afen have to overcome those competitors?
You know AFEN is the first government-backed NFT project in Africa, and we are also the sole market for verified African art. The AFEN model is designed to promote decentralization, this, we take seriously.
2. What markets are you guys focusing on?
We focus on three sectors. Arts, Real estate and Education.
For Arts, we are building a decentralized platform where minting and exchange of Arts will be done using blockchain technology on the Binance smart chain network. For more details you can visit our website at afengroup.com and go through the whitepaper.
In Real estate, what we are doing is a total revolution. Eliminating the traditional middleman culture by reducing transaction costs from 10% to about 1% .
Our Educational program is a form of pseudo-corporate social responsibility. We want all of Africa to be aware and benefit from Defi and cryptocurrency. To this effect, we are creating a platform which will educate users in blockchain technology and digitize their certifications upon course completion. Course curators will be compensated for every verified upload. It will be an educational system so decentralized.
1. Most of the new investors and new joiners in the crypto world, are very interested in big projects because they deliver high and fast. For what reasons can convince investors small and large to trust and invest in AFEN Blockchain?
AFEN’s potential is a no brainer. Our footprints since launch have been fantastic. We are fast developing and we’re sure that we will continue to put Africa on the map. Now why should investors small and large invest in us.
We meet all the requirements that doing your Fundamental Analysis requires. Our comparative advantage of being backed by the authorities in which we operate is another. And lastly, our commitment to the community is situated in the choice to develop the premier platform for the digitization of Arts, revolution of Real estate and introduction of Blockchain technology education to the public.
2. I see in your roadmap that you have planned a marketing improvement in the token list, what do you think are the benefits that this would bring to the community?
Marketing is good for every token. We have taken action by collaborating with so many initiatives that share similar interests. More collaborations are coming. Our team of marketers will continue raging — navigating us to the ‘moon.
3. What is Afen’s ultimate goal?
Strengthening Africa’s institutions through futuristic technology.
4. In protest against Covid-19, many people decided to work from home. How can the community earn passive income with your project? What is the team’s strategy for creating price stability for the future? And how great is the level of development and adoption in this pandemic?
Upon completion of our NFT project, users will earn through uploading their Arts, Real estate listings, and Courses on our platform. Concerning price stability, we have detailed that in our new roadmap set to be announced.
5. Apparently, many blockchain projects are not solving any real problem, they just exist to sell their tokens. What problems exactly is AFEN Blockchain solving, and what solutions are you providing?
In Real estate, our model has reduced the percentage gotten by middlemen from a traditional 10% to 1%. In Education, we are digitally certifying users of our platform and expanding knowledge of blockchain technology across Africa.
6. What are your plans for listing @AFEN on exchanges?
This question seems to be so important to our community. They can be rest assured that we are working tirelessly to list in as many exchanges as possible.
Recently, we announced BitMart and today, Quidax. Top central and decentralized exchanges will follow. Our community will remain excited. This is one of the things we know.
Questions picked from Zoom:
1. What role does the community play in Afen? What have you done and will do to get people to join Afen and build a strong community?
It’s known and should be known that at AFEN, the community is integral to our operations. We continue using our slew of marketing techniques to bring in more people to populate our healthy community.
2. Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like Afen?
I got introduced to cryptocurrency some years back and with time, my love for it grew. I’ve always been the type to want to play rather than being on the sidelines. And this was the thought process that led to AFEN. Although, not exclusively. Like every other African, I recognize the need for stronger institutions, coupled with my desire to cause a change using my newly found enthusiasm about cryptocurrency and futuristic technology, I nursed the idea of a platform for the revitalization of certain African sectors. Today, we have AFEN from these cumulative thought processes.
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