Greetings Community!
On MAR 3 2022, we successfully organized an AMA event with NAFFITI, 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 guest Mr. Vincent — Co-Founder of NAFFITI , who shared very in-depth knowledge of the project.
In this recap, you will learn more about NAFFITI, a DAO-governed gasless NFT marketplace where the team aims to build an integrated ecosystem for NFT lovers.
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 WORTH $NAFF!!!
Segment 1: Guests and Project Introduction
Host: Please welcome our speakers for today! Mr. Vincent — Co-Founder of NAFFITI!
Mr. Vincent: Hi everyone, nice to meet you all!!
Host: How are you today? We’re so excited to have your participation today.
Mr. Vincent: I am doing very well. Thanks for having me.
Host: Can you briefly introduce yourself to us and share the background of the team behind this project. What are your past experiences?
Mr. Vincent: The executive team of NAFFITI came from strong backgrounds in blockchain and technology. Let me introduce myself, I worked as the Managing Director, Huobi Global. During my time with Huobi, I was responsible for Huobi Global’s international expansion, strategic development, and local operations across more than 20 markets, across Southeast Asia, the Middle East, the Commonwealth of Independent States, Latin America, Africa, and the European Union.
I am also an investor and partner of WiseVenture.io , mainly focusing on discovering, incubating, and investing in numerous aspects, including WEB 3.0 infrastructure, DeFi, NFT, GameFi, and Metaverse. The objective of the fund is to promote fairness and humanity so as to improve inequality by means of blockchain technology.
Before being MD, Huobi Global and as a project investor and incubator, previously led global business development and operations at several major crypto exchanges such as OKEx, Bitfinex. Before diving into crypto, I worked for global corporations including online marketplace Groupon and online marketing firm iClick Interactive. I strongly believe that NFT is the trend and as a bridge with the traditional market. I devoted myself and co-founded NAFFITI.
And our other co-founder Anthony is also CTO of NAFFITI, he is an influential industry leader in the blockchain, fintech, and e-commerce space in Hong Kong. He is one of the brains behind the digital transformation in Hong Kong and he also promotes that across East Asia. I couldn’t describe how solid his background is, so please allow me to list out some of his titles:
- Co-Founder of NAFFITI
- Founding Member of Blockchain Technology Assurance Institution
- Certified Member of FinTech Club Hong Kong
- Founding Director of Hong Kong General Chamber of Cross Border e-Commerce
- Founding Member and Executive VP of Hong Kong O2O e-Commerce Industries Federation
- Advisor of The Chamber of Hong Kong Logistics Industry and Hengqin FTZ (Hong Kong) Representative Office
Host: You have a very dynamic team as well. Here is the second question: Can you give us a brief introduction of NAFFITI ? What is the meaning of the name NAFFITI and what is the story behind the name?
Mr. Vincent: Sure thing. This should be our first time to talk about our name. Apparently, the name NAFFITI is a combination of NFT + Graffiti. Graffiti is words or pictures that are written or drawn in public places. In the Web3 space, the blockchain and internet have become our public space. “NFTing ‘’ is the words, pictures, and many other art forms that anyone can express on the internet. NAFFITI carries the vision of enabling everyone to freely express themselves with NFTs. We are focusing on NFTs related to art and entertainment industries.
Simply put, NAFFITI is here to build an integrated ecosystem for NFT lovers. We currently have an NFT launchpad and a marketplace launching imminently and an accelerator in the pipeline.
“Giving the power back to NFT lovers” is the motto of NAFFITI. We are here to help creators, entrepreneurs and license owners, especially those whose businesses require financing to grow but are yet suitable for an IPO (Initial public offering) or are not ready for an IDO/IEO. Financing through NFT collections could be a way out. However, creating NFT collections somehow remains a complicated undertaking for most, especially for those without coding knowledge. Our mission is to help the creators, businesses and license owners finance through NFTs with minimum technical know-how and raise the income floor for them.
Host: You have a superb concept of your project! What are NAFFITI tokens, how do they work?
Mr. Vincent: We are quite unique when compared to the other NFT projects.
There are two tokens in the NAFFITI ecosystem, namely $NAFF and $NAO .$NAFF is our utility token. It grants holders exclusive access to a number of benefits at NAFFITI like:
- Buy and sell NFT collections
- Discounted exchange commission fee rate on NAFFITI
- VIP access to different groups as well as physical and online community events
- Whitelisting for exclusive IP minting
- High yield APY staking
$NAO is the governance token of NAFFITI. As we run as a DAO, $NAO enables holders to determine the direction and development of our NFT marketplace, which is the first of its kind in the NFT space.
Moving forward, we look for more partnership opportunities with different creators, collectors, game developers, and other platforms as the NAFFITI NFT platform expands. You can expect more exciting perks to being offered to both $NAFF and $NAO holders in the future.
Host: What makes NAFFITI so unique from other NFT marketplaces?
Mr. Vincent: This is a very good question. NAFFITI is unique in the way that it is a DAO-governed, gasless NFT launchpad plus marketplace.
Compared to our peers, NAFFITI operates in a decentralized manner and is governed by all $NAO holders. Many key decisions, such as our roadmap and marketing plans, are decided in the DAO, ensuring the best interest of our users, supporters, and token holders.
As a DAO, we also value transparency which, we believe, brings trust to our users and supporters. Therefore, you can find our key information like team wallet addresses and our code audit report on our social media available for everyone to check.
In order to support, nurture, incubate potential creators, our accelerator is underway. For updates on our plans, please stay tuned to our social media.
Host: Can you share more about your roadmap? What are you aiming to achieve in the 3-months term?
Mr. Vincent: Sure. There are 4 phases in our roadmap. A few months after our core team was formed, we already achieved the targets in phase 1, which includes seed investments, strategic partnerships, wallet integration, etc.
Now, we are halfway through our phase 2. $NAFF ecosystem building and the launch of our launchpad and marketplace are the keys in this phase. We are running the IDO of $NAFF on Mar 7. After that, launchpad and marketplace will follow to meet everyone by Q2 2002.
Phase 3 will be about expanding partnerships with different parties like creators, artists as well as GameFi, NFT, and metaverse projects to explore more exciting collections and benefits and investment opportunities to our users. Actually, Naffiit is an accelerator in Cyberport Hong Kong, the biggest tech community supported by the Hong Kong Government. Besides, we will also launch our go-to-market strategy advisory services to our partners in need. Basically, the fundamentals of the NAFFITI ecosystem will be all set in this phase.
In the longer run, phase 4 will be the time for us to further expand upon the infrastructure we build in the previous 3 phases. Plans include deploying an auto NFT generator, new chain integration, building the NAFFITI financial ecosystem, and forming partnerships of wider diversity.
According to the current progress, the auto NFT generators will be able to row out in Q2 2022 such that more creators, entrepreneurs, and license owners can be benefited.
Segment 2: Twitter Questions
Host: A while ago, the team chose five questions from Twitter. Here is the link. The first one from @ashikur44811186
Since the majority of NFT’s have little or no value, it is difficult to survive liquidity because people do not constantly trade them in pairs, so it is difficult to liquidate NFT. Can you tell me how the NFTDAOfficial plans to solve this big problem?
Mr. Vincent: This is a good question. Unlike cryptocurrencies, there are different kinds of liquidity for NFTs, depending on the need of an individual owner. Some people might want to swap an NFT for another, some to stake it in a liquidity pool for returns, and some to trade it for cash. I think the most important thing for a collection is to create value. We have a NAFFITI Valuation System (NVS) evaluating the value of the collection. Every collection applying for our launchpad requires going through the NVS. Our team and NAO holders will vote and choose which collections to be launched at Naffit launchpad as a marketplace.
Let alone the quality and utility of the collection itself, as an NFT marketplace, what we do contribute in the first place is to provide a platform to attract enough exposure to the market. It takes solid infrastructure like multi-chain support, wallets integration, a high level of security, multiple payment system support, a collection deployment system, and an ecosystem for creators and collections to strive. We are on the right track to do so to find one of the best primary and secondary NFT markets for NFT creators, owners, and buyers to trade.
Beyond trades, another way to liquidate NFTs is through financing. Just like how physical artworks have been used as collaterals for centuries, NFTs are a logical extension in the DeFi space. We call it NFT-Fi. The goal is to enable NFT owners to leverage the monetary and financial value of their collections to collateralize them and get financed. This is the key part of phase 4 of our roadmap. The development of our NFT-Fi ecosystem is underway. We will bring some exciting updates about it very soon.
Host: Here’s the 2nd question from @Mikamina89
Things are heating up in NFT space. Most new projects are springing up, however the majority of them do not have what it takes to successfully run a project, they are just in it for the hype and money. How can we know that truly #NFTDAO is in for technology and not the hype nor the money?
Mr. Vincent: This is why I am here to answer questions for everyone. I think transparency matters for people to assess if a project is really doing real work or just came for quick money.
My partner/NAFFITI Co-founder, Anthony, is also serving as CTO. He is a blockchain industry icon in Hong Kong and is passionate about NFTs, blockchain, and Web3. With his expertise, experience, and network, we are determined to build NAFFITI into one of the largest NFT marketplaces in Asia.
As I have mentioned previously, we provide our key information such as the team’s wallet addresses and code audit report on our social media for everyone to check. On a regular basis, we also provide updates as frequently as possible to make sure users are on the same page with us during the development and operation process.
Another point to note is that NAFFITI is operated as a DAO. So, we welcome interested parties in NAFFITI to hold some $NAO and join our DAO to run and monitor NAFFITI with us, and most importantly, strive with us.
Host: Here’s the 3rd question @Zcrylic
I like that NFTDAOfficial promises to make it easier for brands to take better advantage of NFTs and for fans to acquire them, could you tell us how you plan to achieve this goal and thus attract more users to NFTDAOfficial?
Mr. Vincent: Yes, that’s our goal!
Synergy is the key. This is how we will help creators and artists tap into different new communities and markets to get the most exposure for them. You may have read on our social media that we have finalized a number of partnerships that will help to bring NAFFITI and our listings to more parts of the world and key NFT communities. Our core team members are from the international team of Huobi Global. They will be capable of providing support and guidance for social media traction and operation of social media, such as Twitter, telegram, discord, and medium.
Besides, it’s also about how to attract people to our marketplace. While some viral NFT collections are also ready to list on our marketplace once everything is set, we are also in discussion with some more big names the community would be excited about. So, please stay tuned.
Host: Here is the 4th question from @Singup_12
A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is #NFTDAOfficial planning to build its community? And is there a plan to recruit people with Blockchain experience to the #NFTDAOfficial team?
Mr. Vincent: Yes, community support is always the key to success. I think our strong community is supporting us by actions NOW! (buying NAO!).
We have been indeed spending efforts on building our community. You may have noted on our social media that we have recently launched the NAFFITI VIP NFT Pass. The pass grants holders access to our exclusive benefits, including guaranteed whitelists to selected NFT sales, members-only events, exclusive airdrops, and limited-edition merchandise. This is a must-have for true NFT lovers.
We are also on Telegram (t.me/NFTDAOfficial) and Discord (discord.io/NFTDAOfficial) to meet and greet everyone. There are games, giveaways, airdrops, and many kinds of exclusive promotions happening from time to time on these two channels. Welcome to mingle and have fun with us!
As for recruitment, we are always open to hiring people with relevant experience to grow and strive with us. If you are interested in joining NAFFITI, please don’t hesitate to talk to us in the community or email marketing@NAFFITI.com.
Host: Here is the last question @nivallena
As I know, strong backing and partnerships in the crypto market might bring huge benefits to new projects. During this point, can you tell us about the investors and partners of your project? What benefits do the “NFTDAOfficial” ecosystem do you expect from them?
Mr. Vincent: As I have mentioned, synergy is the fuel for every project to strive. We have investors and strategic partners from venture capitals, top-tier media group, crypto exchanges, and entertainment companies, just to name a few. Our partners will bring us all the resources we need to stand out in the market. You may also expect some exciting collaborations with viral IPs to come in the coming months.
For example:
- Blackpine, DWeb3, and BSI are the tech VCs to support early blockchain projects and bring partnerships connections.
- Cream Solutions is an entertainment company with an exclusive partnership with Sony Entertainment Asia and bring IP connections
- QuantBlock is the Founding team of Linear (LINA) and Convergence (CONV). Provide IT support on NAFFITI infrastructure and tokenomics.
- Golden Shovel is one of the biggest community agencies in China to provide marketing and KOLs coverage in China.
- SnoopDogg and 9gag committed to working with NAFFITI to provide exclusive NFT sales.
More partnerships will be announced on our social media, stay tuned! Your suggestion is always welcomed!
Host: That is a fantastic idea. Thank you so much for answering questions from the Twitter community! We have truly learned about NAFFITI through this AMA session!
Segment 3: Live Community Quiz
The winner will be participants with their fastest correct answer to the host’s questions.
1. Who are the co-founders of NAFFITI?
Anthony and Vincent
2. What is the meaning of NAFFITI?
NFT+graffiti.
3. What is the governance token of the NAFFITI ecosystem?
$NAO
4. What is the utility token of the NAFFITI ecosystem?
$NAFF
5. Which of the following is not one of the benefits of NAFFITI?
Mining Bitcoin with your NFTs
