Greetings Community!
On Sep 28 2022, we successfully organized an AMA event withMetaBeat, 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 Ms. Stephanie Kim — CEO of MetaBeat , who shared very in-depth knowledge of the project.
In this recap, you will learn more about MetaBeat, a fan community platform powered by music IP backed NFTs and rewards on fans’ contributions.
The AMA included 3 segments:
- Segment 1: Guests and Project Introduction
- Segment 2: Twitter Questions
- Segment 3: Live Community Questions
WINNERS WILL SHARE A PRIZE POOL OF $300!!!
Segment 1: Guests and Project Introduction
Host: Hey Everyone! Please welcome our speakers for today, Ms. Stephanie Kim — CEO of Metabeat! How are you today? Hope you are excited for our AMA session !!
Ms. Stephanie Kim: Warm greetings to everyone here. I am very excited to be here in this AMA
Host: Great! we’re also looking forward to hearing about your project!
Ms. Stephanie Kim: Happy to have the opportunity to talk to amazing people about the things I like the most! Let’s start!
Host: Please share with us the background of the team behind this project. What are your past experiences?
Ms. Stephanie Kim: The MetaBeat project started about a year ago. With the idea of a web3 music community platform, the MetaBeat team developed a NFTFI model with Fan-to-Earn features, which will give the community the autonomous capacity to grow with the success of the artists. MetaBeat team is composed of key players that come from various backgrounds. This variety is what really allows MetaBeat to create a platform that will cater to every fan and artist’s needs. For example, Danny, MetaBeat’s CTO, has extensive knowledge in tech development whilst, I have experience in business development and service modelling. In addition, MetaBeat has team members with expertise in digital design and branding, entertainment marketing, and so much more. The diversity in our team is vital to ensure that we see the different needs of our users and secure a user-friendly environment. And just as important, a fan-friendly and exciting platform.
Host: The second question is Team MetaBeat please have a quick-introduction to the community about your project and what will it serve?
Ms. Stephanie Kim: MetaBeat is a fan community platform powered by music IP backed NFTs and rewards on fans’ contributions. In essence, MetaBeat is a NFTFI platform, NFT + SOCIALFI. Our community NFTs are backed by real assets, music IPs owned by MetaBeat. The music IPs are protected for 70 years from its first release so the fan community or NFT holders receive rewards as long as they hold them. And the SocialFi functions of the app add unique experience and excitements for the users to enjoy. While earning rewards for your fan activities or posts on your social media channels or on MetaBeat platform through our ShoutOut service, you can participate in fan challenges, community privileges and events for your favorite KPOP artists. Eventually, we plan to have each fan community under DAO governance, where the community decides on Shout Out promotions for their artists, events & interactions with their artists, treasury pool allocations, etc.
Host: It’s great! Your project will attract a lot of investors! Can you share more about your roadmap ? What are you aiming to achieve in the 3-months term ?
Ms. Stephanie Kim: MetaBeat team has been preparing for a year now. During the period, we continuously refined our service model, secured partnerships, and developed our app, which is currently under closed Beat Test. In the next 3months, we have a very exciting venture ahead of us. After the IDO, our app will go live when we list our token on CEX, which is coming very soon. Hence, our immediate goal and focus is a successful launch of our app and ICO. We will keep this momentum and continue to move forward fast. In the first phase of our launch, we will increase our brand exposure while stabilizing our platform before we upgrade to a full-scale version. We are planning several collaborations with other nft marketplaces to expand our reach and will also drop concert tickets, exclusive album releases, fan privileges to MetaBeat users. I am confident that our team will pave the path as we grow to be a top global platform for all music communities.
Host: We are looking forward to your upcoming activities! Let’s now proceed to the 2nd segment, the Twitter Questions!
Segment 2: Twitter Questions
Host: A while ago, the team chose five questions from Twitter. Here is the link. The first one from @Caminda88 — A good project always has competition and duplication of ideas. What is the long-term vision of the blockchain NFT market to keep up with the trends with technology, community and related issues?
Ms. Stephanie Kim: Thanks for your exciting question. In the fast paced blockchain market, keeping up and understanding how the market is evolving is important. And the duplications and competitions are inevitable. In a way, the projects should welcome competitions because they help grow the market as a whole, especially when the market is at its infant stage. Then, the remaining task for the project is how to stay competitive and stay ahead of the game. I think what sets a competitive project apart is in the team’s capacity in interpreting these trends and incorporating them into improving their ecosystem or business model. Though they move swiftly with adaptations, they should not lose the core of the business objective. MetaBeat team consists of skilled professionals with extensive experience in various industries and know how to propel through the challenges.
Host: Here’s the 2nd question from @vicky64812448 — These days, NFTs often collaborate with different platforms. Does MetaBeat have plans to collaborate with other projects in the future?
Ms. Stephanie Kim: Yes, we do. Earlier this month, we collaborated with crypto.com NFT and dropped Mamamoo Special Edition as a pre-opening event for MetaBeat. As such, we plan to collaborate with many marketplaces going forward to increase our global exposure. And our collaborations will not be limited to Special Edition NFTs but include other creative projects to add more dynamic experiences for our users. We are actively discussing collaborations and partnerships with various platforms and communities across the region including the U.S., Europe, Latin America, Thailand, Vietnam, and China.
Host: Here’s the 3rd question from @PriceH23390084 — Currently many projects are moving towards the adoption of NFTs, however, @MetaBeatOffl has many types of NFTs, what is the advantage of having different NFTs, and is there one in particular that appeals to the project developers?
Ms. Stephanie Kim: Our unique selling point is that our NFTs are backed by real assets, music IP. Music IPs are protected for 70 years from its first release, this means that NFT holders will receive monthly rewards as long as they hold them while this protection period is valid. Also, we are a NFT + SOCIAL FI platform. Users’ fan posts on their social media channels and on MetaBeat platform earn rewards. Basically, shout out your love for the artists and earn rewards!! And you can take your rewards to purchase more NFT or stake your $BEAT and accumulate even more rewards while supporting your artists and growing the fan community.
Host: Here is the 4th question from @Bitcoin_lavers — I would like to know more about the #Metabeat NFT Marketplace. What are the requirements to list an NFT? Is there a fee for listing? And does it have to be an NFT created on Metabeat or can we list NFTs already made on an external platform?
Ms. Stephanie Kim: At Beta service stage, users can trade NFTs purchased on MetaBeat platform or MetaBeat published NFTs purchased on other platforms. And there will be a small fee charged when the trades are made. However, in the future, we plan to expand to more active contents such as fan arts. Users will be able to mint their own fan arts, and showcase them on marketplace, and trade with other fans.
Host: Here is the last question from @kirmdom — What is your plan about globalization? Do you have local Communities for those user who don’t understand English well?What can we expect to see from your platform in the short-term (at some point in 2022) & 2023?And beyond (long-term goals)?
Ms. Stephanie Kim: We plan to go beyond KPOP and expand to other music catalogs to bring diverse music communities onboard. Our long-term goal is to become a top web3 music community platform for all music fans worldwide. With the listing of our $BEAT token, our Beta version app will be launched in English and Korean. However, more languages will be available later as we upgrade. Our app will have four main services, Drops for NFT purchasing, Mingles for $BEAT staking, ShoutOut for Fan-to-Earn incentive program, and marketplace for NFT secondary trading. In Q1 of 2023, our app will be upgraded to full-scale version with more refined functions and services. For example, fan community membership system and DAO governance integration will be adopted in phases on multilateral layers.
Host: Thank you so much for answering questions from the Twitter community! We truly appreciate your time and participation today!
Segment 3: Live Community Questions
1. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Ms. Stephanie Kim: Yes they do. We plan to have the fan communities under DAO governance so they have the power to decide how they want to be involved with the artists. And we will do this in multilateral layers meaning it will be done in phases. It will first start with easy voting on promotions, fan challenges, and missions then develop into more governance. This is because we plan to onboard a non crypto music fan community and it will take a learning process for how to incorporate the DAO governance.
2. Do you guys feel satisfied by seeing your progress and achievements till now, when you look back to the day when you have started this project?
Ms. Stephanie Kim: Interesting question. I have never received such a question from the community. Are we satisfied? Yes and no. As we all know, the market situation is not good and it made our journey quite difficult to propel through. However, thanks to our excellent team, we have made notable achievements even in this very bear market and was recognized by top tier funds and investors. With their support, we are able to move forward as planned. So, looking back to when we started this project, yes we are hitting the milestones we planned and hope to continue the pace with the support of the RedKite community.
3. On your website you don’t mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven’t, would you plan to perform any review of your smart contract in the near future?
Ms. Stephanie Kim: Yes, we have an external audit report from SLOWMIST since our token is Polygon. And also we have full legal assessment on our token as utility token and that our nft is not a violation of SEC. We have thoroughly prepared our project and put in measures to prevent any potential risks.
4. How are you planning to attract the non-Crypto Users to your platform? Can you talk about the UI/UX. Is it easy to use even for users who are unaware of blockchain ?
Ms. Stephanie Kim: Since we work with KPOP label companies and entertainment companies with affiliated artists, we do have KPOP fandoms that we can reach out. In fact, we have already gotten their feedback on our app under closed Beta test and modelled our service according to the fan community’s feedback. So, our UI/UX is very intuitive and easy to use for even non crypto users.
5. Staking program very important for any project? Can I stake your token? Do you have any plan of starting a staking programme?Staking programme is very important for any project? Can I stake your token? Do you have any plan of starting a staking programme?
Ms. Stephanie Kim: Yes we do have a staking program called Mingle. Different mingle pots will be opened and each mingle pot is backed by music IP. Users can stake $BEAT tokens and enjoy the monthly rewards. Our staking has very minimal conditions so users can freely go in and out of mingle pots and create their own portfolio of Mingles while supporting the artists and enjoying privileges. Also, there will be many fun features added to the Mingle such as raffles, missions, etc. We want to make this a fun playground for our users.
MetaBeat’s Official Channels:
Website | Twitter | Discord | Telegram Channel | Telegram Global Community | Medium | Github
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