AMA RECAP — POLKAPLAY AND SATOSHI CLUB
On 22nd May, Sugnesh Patel (CEO) and Dzianis Kaplun (CMO) from the PolkaPlay Team joined the Satoshi Club telegram community to share valuable insights on the PolkaPlay project.
The Satoshi Club Community was recently joined by PolkaPlay guests to talk about all things NFTs and DeFi. The AMA consisted of two segments — introduction to the guests followed by them answering twitter and live telegram questions.
Get a quick recap on what transpired here:
Admin: Let’s start!
Introduce yourself, please. How did you get to be involved in crypto and PolkaPlay?
Tell us please also about yourself and your position in PolkaPlay.
Sugnesh: Sure, I’m the CEO at Polkaplay and I have extensive experience in IT & software development with a strong knowledge of Business Architecture.
I have helped multiple fortune 500 companies in building high-performing software development teams that deliver quality software applications in an iterative manner following scrum & agile methodologies.
My crypto journey started in 2017 while working in NYC and attending different crypto meet-ups while networking with some very knowledgeable people within the space.
Dzianis: Myself, with my knowledge and experience in business management and marketing from Odisee, I have also been fortunate enough to take part in the growing industry of equity markets and crypto and specifically partake in the role of CMO in PolkaPlay.
Admin: What is the essence of PolkaPlay?
Dzianis: Polkaplay is a unique platform where users can create images, short videos, and NFTs seamlessly while earning rewards.
An NFT marketplace for creators and users that offers advanced features like, Rewards Hub, Staking, and more to the users for an amazing user experience.
Admin: Tell us about the benefits of your platform. How is it different from others?
Sugnesh: Other NFT focused projects are mainly focusing on artist collabs and collection drops, or they are simply just marketplaces at the moment.
Polkaplay offers both additional social media aspects where users can just choose to share content and explore the platform or they can actually use the platform to mint their content as NFTs. While all the other platforms charge some gas fees for minting NFTs we plan to offer gasless minting on our platform with the help of our ecosystem partners Polkafoundry and Polkadot blockchain.
Admin: Have you created your own NFTs?
Dzianis: We are currently in the process of releasing a custom collection of PolkaPlay NFTs. Our Genesis NFT drop will be announced shortly after our launch.
Admin: Who are your designers?
Sugnesh: In-house team for the genesis drop, but as the BETA launch is announced we will onboard more creators that users can get excited about.
Admin: How long does it take to develop a project?
Sugnesh: We already have our MVP app on Polkaplay.io but yeah, it will take a lot more effort to build the final product. We are continuing iterative development and will launch our BETA app in July.
Admin: We would like to know about your team. Who is on the project team core?
Sugnesh: So the core team has me and Dzianis as we introduced ourselves. We also have Sohrab, our Dev lead. He is also the Founder at Wisemonkeys, Co-founder and CTO at iDigitize Infotech LLP, a Visiting Professor, & the Product/Dev lead at PolkaPlay.
Sohrab is also a “professor by profession & a traveler by passion” and has taught technical subjects to 10,000+ students, published 8 books and 4 research papers in International Scientific Journals.
Telegram User @yellowchamp: With Polkaplay, creators will be able to do exclusive drops for their fans and scale effectively. They can list their NFTs on the marketplace seamlessly. Creators can share content across many platforms to engage fans and more. How to become a creator on your platform? What are the examples of exclusive drops that fans can get from the creators? How will the fans have a chance to be connected with their favorite creators?
Sugnesh: It’s super easy to sign up and become a creator. You can use google sign or create a profile using sign-up. The platform will be very simple to use and our Mission at Polkaplay is to offer a seamless platform where users can convert their content to NFTs.
Creators can choose to release limited art, pics, music and release it to a small group of their followers first. Users staking or willing to pay creators in POLO tokens will have the benefits of early access to this content.
Telegram User @Brainchest: How is the network built? Do I have to pay for CPU, RAM, NETWORK? Is there a limit to the memory size of the content I create?
If yes, how many MB maximum size? Are there any moral limits? Porn, Cruelty. If there is a limit, how is the decision to remove content made?
Sugnesh: No, users don’t have to pay for anything. We are working with decentralized storage and bandwidth providers to make it as price efficient as possible.
We will keep the limits to pictures and 30 seconds short videos to start with and then update as user demand grows.
Dzianis: PolkaPlay platform is free to use for anyone and from anywhere, as well as no restrictions on the content. Nevertheless, we encourage users to follow basic guidelines and respect the community, as well as restrain from using copyrighted material, which can be solved with digital signatures.
Telegram User @Highpee: One way to encourage more users’ interaction with platforms is to have a simplified click-to-solve solution that does not require much technicalities. If I wish to tokenize social content into NFTs, how has Polkaplay simplified this and what are the step-by-step procedures to follow? And since users can only mint 1 free NFT in 24 hours, what additional fees will it cost if a user wishes to mint more than one within 24 hours? Will these NFTs only be available to your marketplace and platform users alone or can users share their creation to their followers on other Web 2 social sites such as Instagram, Facebook, Twitter, and others?
Sugnesh: It will work in simple steps so it’s convenient for non-tech users as well.
- Take a pic/video or upload your content on Polkaplay platform and
- Hold 100 POLO tokens in your wallet so you can mint your content to NFT.
- Click on sell and list it on our marketplace.
Telegram User @Jonahapagu: Some of the advanced features Polkaplay will be offering its users includes “Rewards hub” which will enable users to track and redeem the tokens earned and “$POLO staking”, can you explain how the Rewards Hub will work, how will users track their earned tokens using it, and apart from tracking rewards does it offer any other function. How will $POLO staking work, and how will users be able to participate in both the rewards hub and $Polo staking.
Dzianis: Staking POLO will allow users to participate in exclusive NFT drops from our collection & creators. Users can also participate in platform governance and earn returns from entry/exit fees. The staking vault will have a 1% entry and a 10% exit fee on each transaction.
These fees will be redistributed to staking, farming, rewards, and marketing funds. As mentioned before, users will be able to mint 1 FREE NFT. However, those active users who intend to mint more than 1 NFTs in 24 hours would have to hold 100 $POLO tokens on their balance. Rewards Hub will enable users to track and redeem their earned tokens without any hassle.
Telegram User @lzamg: PolkaPlay basically works like a social media platform where creators can monetize their art. But with platforms like YouTube or Instagram where people can make enough money to live, how do you plan to attract users to feature their art on your platform? Do you expect PolkaPlay to grow to the point that it becomes a competitor of these big social media platforms?
Dzianis: Platforms such as Twitter, Instagram, and YouTube still don’t have an integrated NFT marketplace, which gives us an opportunity to funnel skilled artists/influencers and provide them with every tool to monetize their talent seamlessly.
It would be incorrect to promise that all users will be able to substitute it with their job and earn a living from it. Nevertheless, it will be a good source of additional income for active/creative users.
Telegram User @NataliyaKil: The Moon Mission Community drop runs until May 26. We need to complete the tasks on gleam to win. As a reward, 50 lucky participants get $ 30 worth of $POLO each at the Public Sale price. I completed all the tasks, but these is only 4 points. Is there a way to get more points and increase your chances of winning? How will the winners be selected, will it be random? And how do you contact the winners, will their names be tweeted with the results of the drop, or will you contact everyone personally?
Dzianis: The winners will be chosen 100% randomly creating an equal opportunity for everyone to obtain $POLO tokens at the presale price. Once the winners will be selected we will make an announcement with a list of winners and ask them to contact us if they see themselves on the list. If certain winners will not show up, we will contact them directly to make sure they claim their winnings.
@Steffiiigray5: You said earlier that Polkaplay is planning to do IDO, with this in mind how do you prevent malicious users or scammers from trying to use your platform?
Dzianis: In case certain users will be reported on PolkPlay as ‘scammers’ or ‘malicious users’ we will take appropriate action. Additionally ID verification will be in place.
@surendra040: One of the main features of PolkaPlay is it allows content creators to cash in on their talent. How can an NFT artist join Polkaplay for it? Are there any requirements like hodling $POLO?
Sugnesh: It’s free to join the platform and share your content. Users can also mint one free NFT in 24hours. They can mint more NFTs if they hold at least 100 POLO tokens and this to prevent spam on the platform.
@Brainchest: Will there be protection against copied, non-original NFTs?
Dzianis: To safeguard our users and creators we will encourage owners of digital items such as short videos, images, and other digital media pieces, to create unique signatures. Each digital asset will contain a unit of data that will represent the asset for which the signature is being created by the creator. Such units cannot be altered and are stored on the blockchain, giving the creator a set of exclusive rights and serve as proof of ownership.
@Denybela: Can you talk a little about your main features?
Sugnesh: We offer features like rewards hub, gasless minting, staking for users, and NFTs for effective monetization.
@Adheera45: What are the marketing strategies of your project? What will you do so that your project will be visible in the crypto field and people come to explore your project?
Dzianis: Part of our marketing campaign involves reaching out to reputable influencers who have built a dedicated social following base and are viewed as experts within the crypto niche to spread awareness. Additionally, platforms such as Twitter and Instagram still don’t have an integrated NFT marketplace, which gives us an opportunity to funnel skilled artists/influencers and provide them with every tool to monetize their talent seamlessly.
@centoscu: Why did you limit users to create 30 sec short videos? In the future can you increase the limit?
Sugnesh: Yes as I said, we will start with short videos and then will increase the limit as the platform grows. It is very important to start with the basics and then study the trend, and enhance as we go.
@Lucky_001: What are the marketing strategies of the $POLO project? What will you do so that your project will be visible in the crypto field and people come to explore your project?
Sugnesh: Through partnerships and co-marketing we believe we can bring great visibility to our platform. Also, we plan to incentivize our early adaptors to refer and help drive growth.
@cindy_crypto: How many tokens do I need for being able to create NFTs in your ecosystem?
Dzianis: You will be able to mint 1 NFT for free in the span of 24 hours however for extra minting of 2 or more you would need to have 100 $POLO tokens on your balance.
Polkaplay is a unique platform where users can create images, short videos, and NFTs seamlessly while earning rewards. It is an NFT Marketplace with social features that enables users to create content, NFTs, and earn rewards with POLO tokens. Users can buy and collect content they like or mint content as an NFT and sell on PolkaPlay.
Telegram Announcements: https://t.me/Polkaplayio
Community Group: https://t.me/Polkaplay