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Satoshi_storyteller

Jan 18, 2022

15 min read

NFTY Portal x Satoshi Club AMA Recap from the 7th of January

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from NFTY Portal and our guest was . The AMA took place on the 7th of January

The AMA session was divided into 3 parts with a total crypto reward pool of $500

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Hello Satoshi Clubber, today we will have AMA with NFTY Portal session

And our guest are @Thecryptomarketing and @Hazadus01

Thank you

Nice to be here in your famous group

Pleasure to be here!

Nice to meet both of you how was your day?

Good, just started. It’s 8am where I am at

Great day thank you

how was your day?

Hello @Thecryptomarketing @Hazadus01 Nice to e-meet you all

Yes its great day, we are so excited to doing AMA with NFTY Portal

Hi mate nice to e-meet you also

Let’s start our AMA and make this session an exciting one

Yes, please introduce about yourself and what is NFTY Portal?

Sounds good!

My name is Joaquin Bravo and I am the CMO of the Project. I have been in the Crypto industry for +3 years, helping many projects succeed!

Nfty-portal.io is a decentralized exchange/platform with its own hybrid (PoW/PoS) blockchain, which allows for millions of transactions to be done per second. Their own high-speed and easily scalable blockchain makes it possible to create super-fast bridges for any existing native coins, tokens, and NFT assets created on the main existing blockchains. This also provides the opportunity to create a new generation of decentralized exchanges.

My name is Az, I have been in crypto for about 4.5 years and NFT for about 2 years

I am COO of NFTY Portal, COO of our Swiss Tech company DexTech AG

and very excited to talk to you all about NFTY

Wow both of you have great experience in cryptoworld

Great background guys, how many members are currently on your team?

We have around 20 in the company and 9 on the NFTY Portal team not including TG and Discord mods

That’s an Impressive number, how did the project start and how long did it take you to get to this stage?

Thats really great team , do your team anonymous or its public?

The devs have been writing this code since 2017.We have been working on the NFTY Portal for near 12 months

some public, some anonymous

Thank you for the introduction we will like to proceed to community questions are you ready for them?

I see , ok then lets continue to community question?

Thank you for the great intro

Lets do it

Q1 From Telegram User @Modrumz120

From your white paper, you mentioned that your ability to store data on-chain will have numerous positive effects on the industry providing a much needed highlevel of Safety,increased Efciency and overall allowing blockchain to operate more Efectively. All operations,from trading to minting will be conveniently executed in the safe and powerful,decentralized environment of our revolutionary,proprietary NFTY Portal. Can you explain the process of storing data on-chain and how it will be done? You mentioned that there will be high level of security, I’m curious to know,with the rate of smart cyber attackers on the rise today, What are your anti-cyber attack measures you’ve put in place to counter them and how will they work to provide safety to the users of the NFTY Portal?

Storing Data on chain is done with the NFTY code and the ability to string data together

Data can be anything from words, to pictures and even high res videos

Another cool addition is the transaction id for a mint can be used directly on social media like Twitter and others can see the NFT info linked straight to the NFTY Portal marketplace

With regards to the security, we are working with a company to have our smart contracts undergo an audit to assure there are no risks for the users. We aim on completing this prior to our launch.

We also have a heap of new code like the VRX Velocity system and the new Deminodes to help our chain which can adapt and is a truely smart chain to potential attacks

Will you be able to share the company with us or till the audit is. Completed?

We are planning on doing it with Hacken, as they are top in the industry.

We are also considering doing multiple audits to provide extra security to our investors.

Hacken is indeed one of the most reliable audit companies in this space

Impressive

Great company for an audit

Thank you for your Answers

Ready for next question?

Yes please

that was a good question

Yes

Q2 From Telegram User @Rozielyna

You mentioned that One of the issues of crypto and NFT minters is that NFT minters pay a third party /marketplace to store their data used in initial mint transaction, and then also pay external marketplaces to gain access to their own data to trade on those external marketplaces. NFT minters then post a link to their data in socials, and interested buyers click the link, and are taken to the marketplace to view the artists work, then pay the marketplace a fee to purchase, but still do not take control of the stored data. Can you highlight more on how NFTY platform tend to solve this issue? How can NFT minters take control of stored data on your platform? What are the various features made available to Solving this issue on your platform?

This days everyone is interested in having total control of their data

NFTY chain solves issues around data storage by allowing data to be stored on the blockchain at time of minting. This streamlined process allows anyone minting NFTs to do so now in a more cost effective and time efficient manner from the safety of your NFTY Portal.

The main features that NFTY presents are:

– Hybrid Blockchain

– Instant Transactions

– Super Low Fees

– Dynamic Block size

– Efficient, Secure, and Infinitely Scalable.

– Demi-nodes Introduction (allowing for mobile devices to help secure the network)

– Greenest and cheapest blockchain of all

In other words this means users have more control, safety and lesser fees

The NFT is obviously controlled by the person who owns the data, so when someone mints an NFT they can sell it on to others like a normal NFT however with more upgraded features than the current basic NFTs on the market today.

The features we have mean it is truely decentralized therefor no need for centralized third parties to control anyones data

I’m particularly interested in the idea of Demi-nodes , how do users get to participate and what will be the rewards?

Yes safer, efficient, effective

Demi-nodes are not like masternodes, while we will have masternodes and community masternodes, demi-nodes allows data to be transferred using very minimal cpu allowing peoples phones and tablets to help provide nodes and secure the system

This

Do users need to download any mobile app for this?

We will have a mobile app for both iOS and Android

This is interesting

Thank you for your superb answers

yw

Ready for the next question?

great questions

This really great, thank you for the answer

Thank you

Yeah, awesome questions!

You will get to see more when the gates are opened

For now let’s move to the next question

I’m ready for that

Q3 from Telegram User @iceVermithraxx

Talking about Technical point of view of the NFTY project, while a single blockchain is quite capable of processing large amounts of information, newer methods where a blockchain system will use smaller blockchain reliant on parent chain known sidechains were created and NFTY’s approach is to have these sidechains remain capable of functioning completely independently. Can you elaborate more on NFTY’s approach to have sidechains function complete independently instead of relying on its parent chain and how this approach is going to work? Can you explain on why you choose to use this particular approach? What are the advantages of sidechains working independently going to bring to the NFTY ecosystem?

By having our own blockchain, we are allowing projects to build up from it. We provide them with benefits unlike any others. It being a hybrid blockchain, it provides users with extremely low fees and instant transactions. This gives the blockchain more uses and higher adoption, allowing it to grow further. The scalability options of the blockchain are endless!

Are there projects currently making use of your Blockchain?

The advantages of sidechains operating simultaneously allow for the parent chain to remain uncongested.

sidechains can assist in sharing the work load of block verification.

The code also has scalable blocks that increase or decrease in size depending on the traffic.

The NFTY code is also part of a bigger network utilising the Fractal Engine.

Each project from the devs at Uunigate that operate using the Fractal Engine can assist with data sharing and block confirmations.

The end result is an extremely fast near instant, while being extremely secure, transaction speed.

We are about to launch the NFTY Portal project roughly late January

At that point others can create tokens on the chain and/ or mint NFTs

We will be looking forward to the launch

Thank you for your answers

Ready for next question?

Yeah!!

Q4 telegram user @Rotoxy

NFTY System have three coins: NFTY Space, NFTY Time and NFTY Motion. Of these, NFTY Motion is going to be the governance token. NFTY Motion will be given to holders of NFTY Time as a reward. Can you tell us why these three tokens are necessary and how your platform will utilise them? What format will you use to share NFTY Motion to NFTY Time holders? Since NFTY Motion can serve governance purpose, is there an amount of NFTY Motion that a user should have before before partaking in governance?

NFTY Space coin will be used as the payment coin for transaction fees related to coins, tokens and NFTs, and also for minting NFTs or tokens on the NFTY chain. It can be staked in the NFTY Wallet and will also be used in yield farming.

NFTY Time will be used as the reward coin that users earn when they engage in yield farming their NFTY SPACE coin. NFTY TIME coin also acts as a highly collectible, high-demand, low- supply coin that can be traded with other tokens in the NFTY ecosystem.

NFTY Motion is the governance coin of the NFTY ecosystem and will be gifted to NFTY TIME hodlers as a reward, giving them governance rights over the NFTY Portal project’s future decisions.

Can you please share the tokenomics from NFTY Portal token?

all Motion holders will have a say in the governance, there are no minimum amounts required to have a vote

NFTY Motion will be airdropped to NFTY Time hodlers after a given period

Here are the Tokenomics of the project

Can you share details of how NFTY space coin can be staked using your wallet?

NFTY Space farming for the NFTY time will be done through the NFTY Portal DeFi section, which is connected to your wallet.

By holding NFTY space, you can stake for more NFTY Space straight from your wallet

Earning rewards passively

This is a great opportunity Guys

Thank you for your answers

Ready for next question

yw and yes lets do it

Q5 telegram user @Cheriemike

NFTY Portal is the gateway to an effective trading universe and what caught my attention is your slogan “Space and Time in Motion”.So can you tell us what your slogan entails?And I noticed that your ecosystem coins are attached to your slogan,NFTY Space,NFTY Time and NFTY Motion.So can you tell us what direct bearing those your slogan have on your token?So far have you been living to your slogan,like doing as your slogan says knowing quite well that nothing come easy?Please explain Thanks

An interesting question

good question

Slogan explanation: Space and Time in Motion

Space — the size of the crypto and NFT market is unlimited like Space

Time — a transaction stamps on the blockchain marking the Time

Motion — crypto and NFT development is moving forward through space and time opening new portals/ doors, beginnings in constant Motion

What a great Slogan you have

thank you

its very science based

a little bit philosophical also

And covers interesting aspects of this space as well

agreed

Great Job Guys

Let’s proceed to the last question for this part

Do you want to add something or we can go to last question?

can go to next

We can go to the last question

Q6 telegram user @nhairym

What characteristics does NFTY Portal have that makes it better than other DEXs, a few months ago they mentioned about a new updated code to cover the latest security concerns for Bitcoin and bitcore projects and that they are coming. More great features on the way, how much have evolved in these aspects, what milestones have you set out to achieve to start this new year, why should we trust and invest in your platform?

NFTY Portal offers trading for coins/ tokens and NFTs

We will also allow atomic swaps cross chain trading etc

It is also far more scalable and efficient that the other DEXs

And can do thousands of transactions in seconds

some of the great features are the Demi-Nodes which have been completed and also the upgrades to NFT storage and viewing capabilities

Oh new feature , btw can you please share the roadmap from NFTY Portal?

To answer the last part of the question, always DYOR then choose whether you invest or not

Thank you for sharing

our Roadmap is currently being updated by the website devs

A new version will be released soon showing some of the upcoming features and milestones to reach for this year

Thank you Guys for your Aming answers in this first part

Thank you for clear and detail answer

yw they were very good questions

We will now like to proceed to the second part of our AMA, our members are super ready to get this chat flooded with their wonderful questions

Are you ready for storm of question from our community?

We will open chat for 120 seconds and when the chat is closed you will select 10 questions of your choice

Yes bring on the storm

Opening chat now

Part 2 — live questions from the Telegram community

Q1 from Telegram user @Josegamboac

To provide users with maximum convenience, NFTY Portal has created a DEX where users can exchange and store coins, tokens, and NFTs in one place. What are the assets that can be traded in NFTY? What are the advantages of having assets in NFTY? How is NFTY different from other DEXs?

NFTY will feature a DEX, where you can trade tokens, a Marketplace for NFT, with the incorporation of Metaverse projects in the future. The advantage to other blokchains is that it is highly scalable and efficient, with super low fees and instant transactions.

Q2 from Telegram user @Meta_ji

How can we Mint NFT’s on NFTY portal and what Token do we need for this?

Anyone can mint NFTs using NFTY Space! NFTY chain solves issues around data storage by allowing data to be stored on the blockchain at time of minting. This groundbreaking discovery allows for many options to flow from the new features now available to blockchain technology such as direct NFT advertising for example. Instead of posting a link to a marketplace on social media, sending interested parties in that particular NFT to a site where they can then view the NFT and choose whether to interact, you can now post a link to your NFT directly to the chain it was minted on.

Q3 from Telegram user @razraz_hardbass

I have a question about platform vulnerabilities: Did platform take place some penetration tests or may be tested inside devs community?

The platform is undergoing several tests while on the testnet, and will be audited prior to launch. Our devs are working hard to assure that there are no bugs within the contract

Q4 from Telegram user @cryptoeclipse

Will there be an ability to delete an NFT or an NFT collection/project instead of sending it to a burn address?

Hello,

Thank you for your question.Since NFTs are minted on the blockchain they cannot simply just be deleted.As we will be a Decentralized Platform we will not be removing NFT projects like the centralized exchanges currently do.
However if there is something minted which does not meet the guidelines due to extreme violence, hatred, harassment, slurs etc then that project will be banned from the Portal.

Q5 from Telegram user @Rinhere

For new users, Various kinds of rewards are very attractive,
How can users earn rewards while trading on NFTY Portal Platform?

The NFTY token is used for the following:
Commission when issuing NFT
Commission when buying or selling NFT
Commission when donating or transferring NFT
Commission when creating tokens on the NFTY blockchain
Masternode fees commission

You can also stake and farm NFTY to earn rewards passively

Q6 from Telegram user @Fatima6734

On Your website, I came across NFTNauts,
What is NFTYnauts, Please tell us about that?

Hi,
Thank you for your question.NFTYnauts are the NFTY Portal mascots. These mascots will be used for marketing, NFT drops to Time holders and numerous other rewards, maybe even some IRL rewards.Stay tuned for more info as we launch…

Q7 from Telegram user @Arisabela

Compared to your direct competitors, NFTY uses a consensus mechanism that can be considered “hybrid” and, according to statistics, transactions are carried out completely instantaneously. I would like to know who is part of the operation of this mechanism, how do you keep it free of errors and how expensive is it for the maintenance of the ecosystem? What is the role of real users in all this?

The blockchain is hybrid, which means that it combines PoS and PoW. By doing so, the multi-chain system that can generate side-chains for any depth of features allowing the system to scale data processing capabilities exponentially.

Q8 from Telegram user @vector_190

What is the difference between NFTY Desktop wallet and NFTY Web wallet and when are You going to launch your mobile wallet?

Hi,

Thank you for your question.
Desktop wallet is currently available for Windows and will soon be released for Mac.
Desktop wallet has full functions such as minting, staking, encrypted IM and more

Webwallet is created for people who do not have a desktop pc or laptop and can be used on portable devices though a browser
This does not have full functions like the desktop wallet.Mobile wallets will be launched in early to mid 2022 and will have similar functions to desktop wallet.

Q9 from Telegram user @Pokerlight

The majority of crypto projects are focused on English communities, so do you have any particular plans to expand to communities with other languages? Like Spanish, Russian or Indonesian?

We do have a massive following from Russian, Spanish, and Indonesian communities. As we grow, we will be able to create TG groups for everyone to participate. Moreover, we have different channels on our Discord (https://discord.gg/7MnrhQwPTv) that allow members to talk about the project in their native language.

Q10 from Telegram user @Akira236

I have heard about proof of work and proof of stake, What is PoW/PoS Hybrid?
Please brief us about that

Hi,
Thank you for your question.
Hybrid takes the best features of PoW and PoS and utilizes them in an efficient and effective way while maintaining ultimate safety.This also makes us one of the greenest chains on the plane

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/

Telegram –https://t.me/NFTY_Portal
Medium –https://medium.com/@NFTYportal
WebSite — https://www.nfty-portal.io/
Twitter-https://twitter.com/NFTYPortal

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Storyteller for Telegram community @satoshi_club

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