AMA Session with Mo Komy and Rob from StartFi (STFI)
Guest: Mo Komy, CEO; Rob, CTO of StartFi
Host: Iris of MEXC Global
Iris: Today, we’re honored to have Mo Komy, CEO; Rob, CTO of StartFi, to our community to give us a more intuitive introduction to their unique project.
Mo Komy and Rob, welcome. Would you like to say hello and introduce yourselves?
Mo: I’m the CEO of StartFi, I have more than 17 years experience in the Tech industry, taking it from being a web developer to becoming a serial entrepreneur.
I started mining BTC in 2013, daily crypto trader since 2016, I moved to the blockchain industry as a startup in 2017 with a payment system built on the Stellar network, and funded some startups in blockchain, fintech & ecommerce.
Here I’m giving my all time on StartFi, because I see a brilliant future of NFT in the content creation industry.
Rob: This is Rob, the CTO of StartFi. I have known Mo and worked together in the Blockchain world for almost 3 years now. I live and work full time in Canada. I am an enterprise architect with extensive experience as a software developer and architect. Aside from my job as an enterprise architect, I am very passionate about blockchain. I strongly believe that Blockchain is the future. I am already seeing it disrupting existing solutions in the government of Canada. This is huge if you know how governments work. I believe in two things: Process and distributive technologies. Both put you on the right track to evolve and succeed. That is exactly why I am here today :)
Please stay tuned for more updates on new project updates and community airdrops on our Telegram (https://t.me/StartFiChat) or Twitter account (https://twitter.com/startfinance?s=21)
Questions about the project
Iris: What is StartFi? Can you share with us more in detail?
Mo: StartFi is a content management platform for the general public. StartFi’s mission is providing a platform that can enable content creators (like books, educational series, paintings, stories, and much more) and consumers to effectively and easily manage their content. We are aiming to build a platform that can be easily navigated and utilized by the general public. You really don’t need to be tech savvy to deeply understand how blockchain works.
As you can see just now mentioned the word blockchain. And that was intentional. Now I know our awesome audience today is technical so I will go ahead and say that we are using NFTs as a solution to ultimately digitize and monetize content creators and owners assets globally. StartFi is following an agile process that is driven by the UX/UI design that is developed by a team of designers that are brought from the outside of the blockchain world in order to build a platform that delivers value to users while sending technology complexity to the back of the scene. Also StartFi is working on a blockchain agnostic solution where users can use StartFi platform on any EVM compatible blockchain network of their choice like Ethereum and BSC.
Finally the StartFi platform itself has two solutions, a marketplace for users to buy, sell, and bid on content. The second solution is a Launchpad for approved content creators to run Initial NFT Offering (INO) campaigns to fund their content creation activities.
Iris: What triggers you to launch StartFi? What are some of the real-world problems/ pain points that StartFi aims to solve?
Rob: I will take this one.
Reality is that today’s generation is so innovative and has a genuine entrepreneurship spirit. There are a lot of young content creators who are looking for more control on how they manage and present their content away from too much red taping and slow processes. This is where StartFi comes into play. StartFi is working on a community driven platform where content creators can have real control on not only how they like to monetize their content in terms of auctions and royalty settings, but also full control on the structure of their initial NFT offering (INO) campaign in terms timelines, offered NFT tickets, discounts, exclusive offers, etc.
that’s exactly what the content creators need!
Iris: What are some of the challenges that StartFi currently faces? How do you aim to solve them?
Rob: I will take this question as well
I will be very direct and transparent here, our challenge is not related to the technology or the vision of the product, because we have pretty good handle on that. Our challenge is reaching out to different content creator ecosystems like art, writing, fashion, and education, sports, etc. The marketing team is working hard on onboarding big names from these ecosystems. We are in talks with many starts and influencers, and have great news to release very soon to our faithful community ;)
Iris: That’s true 👍but we believe you’ll handle it well
Iris: Are there any exciting news or updates with regards to StartFi that you would like to share with the users?
Mo: Well, We are working closely with super stars (Football Players) to start selling their NFT on our platform.
The names will be announced to the public on time.
Also, a partnership with two big networks on the way, once we finished the development of integration.
Iris: Wow exciting stuff 🔥looking forward to it!
Mo: There’s so more partnerships under the hood but will be announced on time
Iris: If you were to summarize your project in ONE word, what would it be? Why?
Mo: UTILITY, StartFi platform is built to solve real world problems in a practical way. This means users will have a real use case that will incentivise them to adopt StartFi’s content management platform. Even StartFi’s token (STFI) was designed to have a real world use case. STFI is not only the fuel of StartFi’s platform to buy and sell content, it is also used as a governance tool on the platform.
For example, users can mint their NFT with saving their royalty shares.
Also, users can get passive income from staking their token while using our service, or get rewarded with each successful operation.
Q1: What is the background of the your project team? Do you think the team’s qualifications and experience are able to support the long-term developments of the project?
Mo: Yes of course, we have a lot of talents from blockchain & crypto industry & from outside the industry to give our users a different experience. because NFt is something for everything digital in our life not only collectable things inside crypto community
Q2. How do you plan to spread awareness about your project in different countries where English is not the primary language? Do you plan to expand into other communities such as Vietnam, Indonesia, Korea etc so that they can easily communicate and understand your project?
Rob: Great question. Marketing and reaching out to different communities is a core competitive advantage to our platform. W are working on reaching out to diverse communities in different geographical regions by making sure of:
1. Support different languages in our platform out of the box.
2. Hiring marketing team members from different geographical communities.
3. Signing exclusive contracts with super stars and popular content creators known globally. We have already locked in ;)
Q3. 𝐇𝐞𝐥𝐥𝐨 𝐬𝐢𝐫🥰🥰𝐃𝐨 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 any upcoming 𝐚𝐢𝐫𝐝𝐫𝐨𝐩 𝐞𝐯𝐞𝐧𝐭s?
Rob: Yes!! Stay tuned for an announcement in the coming days on our Telegram channel (https://t.me/StartFiChat) or Twitter account (https://twitter.com/startfinance)
Q4. What is the incentive for users to engage in p2p commerce on Startfi compared to a more organic platform like Craigslist or Facebook Marketplace that relies on friends/family and the local community to source goods for cash or material exchange? (Is it all competitive or its appeal is just that cryptocurrency itself is an alternative medium of exchange). How does Origin handle the “mutual trust” aspect of the exchange?
Mo: It is the same thing when users go to many different platforms out there for food, perfumes, shoes… The simplicity to use, the unique products you want to buy, the community support who delist the bad & fake contents, plus all decentralized features that not ready integrated in such big platforms.
In simple words, It’s the same story of Nokia, Blackberry, Apple, Android.. the world is changing very fast
Q5. How do you feel or do you feel satisfied, when you look back to the day when you have started this project?
Rob: We feel so satisfied and privileged looking back at where we were 6–8 months ago. We started with a real world problem that we wanted to solve late in 2020. 8 months after, we have awesome investors, faithful community and followers, raised funds that will allow us to work and grow our team, and a a product MVP. This is just the start of something amazing :)
Q6. Does your project support staking program? If yes, how does your stake system work, what is the requirement for user if they want to stake in your platform?
Mo: Yes, mainly ton allow users to buy rare & unique NFT. then applying stake into our governance voting, so you will be able to vote for Launchpad listing & earn some profit as well..
Q7. For any Crypto/blockchain projects /platforms, security, scalability and interoperability are the most important factors. So, can you explain what technologies uses in its project to make StartFi extensible and interoperable?
Mo: Yes, & because of this we just signed with one security company, & the second one on the way, they will work with us all the time to audit codes, bugs, issues….
More? yes, there will be abounty program for bug hunting as well, should start next week
Q8. What is project’s revenue model? In which ways do you generate revenue/profit?
Mo: Mainly from transaction fees, percentage from NFT seles & INO
MEXC Global: https://www.mexc.com/