Greetings Community!
On Feb 22, 2022, we successfully organized an AMA event with FAITH TRIBE, on Red Kite’s Telegram Channel. We’d like to give a massive thanks to all of our audiences who joined us and our special guests Mr. Wahid Chammas-Founder of FAITH TRIBE, who shared very in-depth knowledge of the project.
In this recap, you will learn more about FAITH TRIBE, which is an open-source platform for the creation, design, minting, customization, and distribution of digital and physical fashion items. The team provided information about the project’s features, special insight into the project vision, upcoming plans, etc.
The AMA included 3 segments:
- Segment 1: Guests and Project Introduction
- Segment 2: Twitter Questions
- Segment 3: Live Community Quiz
WINNERS WILL SHARE A PRIZE POOL OF $500
Segment 1: Guests and Project Introduction
Host: Hey Everyone! We are going to have an AMA with FAITH TRIBE which is going to start now! Let me introduce our guests today! Please welcome Mr. Wahid Chammas, Founder of Faith Tribe & Mr. Tarek Hourie — Head of Marketing of Faith Tribe.
Mr. Wahid: Hello hello nice to be here!
Mr.Tarek: Hello, glad to be here!
Host: Great, so let’s start with Segment 1: Project and Guest Introduction.
Mr. Wahid: Sure! Let’s start!!!
Host: Here’s the first question: Please share with us the background of the team behind this project. What are your past experiences?
Mr. Wahid: So, we are an eclectic group! I personally am one of the owners of faith but from the financial side. I own a private equity firm with 37 companies, a third of which are in fashion and fashion tech. The rest of the team is very large, for we have been in business for 21 years building Faith Connexion into a global, powerful brand. Most of the people on the team are designers, marketers, or in logistics, managing our factories and production. We also have a 10 person team now from the blockchain side. As for me, my fund backs some of the biggest names in fashion and fashion tech, many of whom are backing Faith Tribe today
Host: You have a very awesome background and strong experience when it comes to this industry. You have a very dynamic team as well. The second question is Can you give us a brief introduction of Faith Tribe? What is the meaning of the name Faith Tribe and what is the story behind the name?
Mr. Wahid: This is interesting. So since inception, we always had something truly unique that other big brands, like Gucci and Prada, didn’t have. These other brands are amazing, luxurious, but they always boast about being ultra-exclusive. We on the other hand have embraced inclusivity while remaining very high-end. We are the only brand that brings so many independent artists and designers into our ecosystem. And we have for decades called it the Faith Tribe. Today we are tokenizing Faith Tribe. Faith Tribe is an open-source platform for the creation, design, minting, customization, and distribution of digital and physical fashion items. The platform will boast a design studio with a set of innovative tools to allow our community to create physical or digital assets, and an NFT marketplace to connect them to buyers.
The native brand of our project, as I mentioned, is Faith Connexion, a high-end fashion house based in Paris. What always made our brand special is that we were very inclusive in the creative process. Again, unlike other projects that have Whitepaper, many stay as Whitepapers. We on the other hand are already in business and have always had a creative tribe of young designers participating in our collection, and the idea of Faith Tribe is to leverage the opportunities delivered by the blockchain to build a global community out of it. That’s also where our name comes from.
Host: The 3rd question is Can you share more about your roadmap? What are you aiming to achieve in the 3-months term?
Mr. Wahid: As a fashion brand, we have a lot of fun! Every few weeks we have a big show somewhere around the world or a big party sponsorship.
Specifically, over the next 3 months, we will be super busy! We are very soon, on the 24th on AscendEx and 28th on BitMart, launching $FTRB, and of course in partnership with Red Kite on the dex side. The full utility coin will stand as a unified currency between our community and various components of the ecosystem.
Next month we will host our show in Paris fashion week. This is the annual pilgrimage of the entire fashion industry, and having been shut in our homes for two years because of covid, we are excited !!! A week later we are doing a big show in Puerto Rico for Miss universe. Then we repeat our fashion show with our mega rave with Blondish (our famous brand ambassador DJ) on Decentraland for Meta fashion week.
In the upcoming 3 months, we will be focusing on launching the product and gradually implementing every pillar of our ecosystem. We will also have a strong presence in a couple of events, including sponsoring the NFT Day in Paris, AIBC in Dubai, and Edge of NFT in Los Angeles.
Host: Looking forward to your upcoming activities! Thank you so much for introducing your project to the community! We will now proceed to our 2nd segment, the Twitter Questions!
Segment 2: Twitter Questions
Host: A while ago the team chose 5 questions from Twitter Announcement. Here is the announcement link. The first one from @Cryptodilatory
What problems will the Faith Tribe project solve in the fashion sector, which has become even more inefficient due to the pandemic, and will it gain an indispensable place in this sector?
Mr. Wahid: Faith Tribe’s mission is to empower, reward & unlock new opportunities for every creative voice. We believe a global pool of talented creators is still facing so many challenges to stand out, due to fierce competition, lack of resources, and headwinds in business environments. Faith Tribe’s aim is to eliminate these barriers and wishes to disrupt the future of fashion through this powerful hub of open creativity.
We’re convinced our project can become an important actor in the sector, as we’re offering a full-stack solution to the struggle for millions of creators. We also have solid foundations, thanks to the brand equity of faith connexion and the huge partnerships we signed in both fashion and blockchain communities.
Host: Here’s the 2nd question from @OpuGhosh2
You said that the core of the Faith Tribe project ecosystem is the $FTRB token, does this mean in every transaction be it NFT or physical products will use the $FTRB token? And do creators or designers have the opportunity to earn passive income here? Please explain how?
Mr. Wahid: Yes, to use the facilities of our platform and sell/purchase clothes, you will need to use $FTRB. The creators of course will get benefits out of it, as every time their items are sold on the marketplace, they will get the royalty fee they initially set up. The royalty is in tokens. Also staking, investors can stake their tokens to earn income because the staked tokens can be borrowed by designers to use our tools; similar to peer-to-peer lending, as many designers can’t afford the start-up capital.
Host: Here’s the 3rd question @xsikur2
Faith Tribe offers to reward independent creators in the metaverse and physical realm, my question is, how exactly will they reward in the physical realm? What will be the real-life products that a creator will be able to get in Faith Tribe?
Mr. Wahid: First I want to emphasize we don’t have competitors. All those doing “open source fashion” are digital-only studios — they don’t produce physically …they don’t have our factories, sourcing, production, and logistics. Also, our physical world competitors (Balmain, Gucci, etc ) don’t do “open-source”.
We will be the first ecosystem that allows designers to design and produce both physical and digital products.
The creators will have the opportunity to create their physical and digital fashion in our design studio, mint them as NFT and sell them on our marketplace. It’s an easy and supportive user experience.
The NFTs can be tied to real-life items, through NFC Tags. That’s what makes us unique: the possibility to create tangible physical content in addition to digital fashion.
Host: Here is the 4th question from @Vicky79583658
I read that Faith Tribe is an open-source platform for the creation, design, minting, customization, and distribution of digital and physical fashion items. What are the opportunities available for creators on Faith Tribe? Will it be possible to swap your NFT for real-life items in a fashion store in the future? What are the future possibilities on your platform?
Mr. Wahid: Hi, so I think we answered that. Indeed you can swap the NFT for faith Connexion clothes. We will then burn those tokens to create a deflationary effect on supply so the whole ecosystem benefits. If you go to www.FaithTribe.io and check out our NFT drops you will see we already do this
Host: Here is the last question @Icegram3
There are two things that interest me and intrigue me about a project, the first is “team expansion”. The second is the “marketing strategy and adoption plan.” Can you give us more details on these two aspects of #RealfaithTribe? In which work areas do you plan to expand?
Mr. Wahid: The team is super focused on making this project successful, we don’t count our hours, and we’re sure that we will soon need to recruit a lot of people to support us. This could quickly become a very large project. The good news is we have been in business for ages, and have done the difficult stuff already ….built a brand, logistics, global marketplace, partners, and have phenomenal designers, studios, factories, and production.
The marketing strategy we’re implementing is very aggressive. It is supported by both our partners Luna PR and IBC Group.
We’re doing a lot of community outreach and boost, but also are very active on the PR side with regular podcasts and articles out in the press. Finally, we’re currently on billboards in Times Square and Miami and running a strong digital ads campaign. Last but not least, we are planning to have a presence at major events. Art Basel Miami, Paris Fashion Week, Metaverse FW, AIBC Dubai conference, Paris NFT Day, Miss World in Puerto Rico… Decentraland and other Metaverse platforms ….and that’s just the beginning. Stay tuned for more.
Host: Sure! We are looking forward for your upcoming activities. Thank you for answering the questions from the Twitter Community! Let’s move on to the last segment, the Live Telegram Questions, Mr. Wahid. Be ready!!!
Segment 3: Live Telegram Questions
Question 1: When will your tokens be listed on the exchange and which exchanges do you plan to list in the future?
Mr. Wahid: 24th on AscendEx, 28th on BitMart… we are also in discussions with many other top-tier exchanges.
Question 2: Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buyback system or token burning in the future?
Mr. Wahid: 75% of the tokens go back to the community ….designers, artists, influencers, etc. 5bn tokens minted, to be released over 10 years. A fixed supply, but we will burn tokens when tokens are exchanged for faith Connexion clothing. So yes deflationary on supply.
Question 3: Are you a global project or a local project? At present, which market are you focused on, or is it focused on building and growing to gain customers, users, and partners?
Mr. Wahid: We are GLOBAL GLOBAL and GLOBAL. It’s open to literally anyone who wants to create and design, regardless of the resources or geographic constraints of where he is.
Question 4: Token Burn or BuyBack program play an important role in increasing Token value Do you have a token burn or buyback program plan to attract investors?
Mr. Wahid: Yes we plan to do burning in the future. Albeit our program will be far more organic than what you see in the marketplace today. In the future, every piece of clothing sold for tokens will render the tokens deposited at Faith Connexion and subsequently burned.
Question 5: Can you tell me more details on the IDO? The schedule and contribution for each?
Mr. Wahid: 0.01$/FTRB is IDO Price. The ido will take place on Thursday 24th on AscendEx, and Monday 28th on Bitmart. We have had a 5Bn Token supply over 10 years.
