Encentive Metaverse AMA Reached Huge Success
On July 18th, 2022, Superhero NFT Wars (SNW) held another Metaverse MAMA with Encentive, the world’s first Fiat-DeFi integrated Web3 OS. We were honored to have Jacob, the co-founder and global community lead of the Encentive.io protocol, to introduce this more accessible and user-friendly platform.
Preheat part
In the gleam and the preheat part, we have already received 4063 entries from community members who are ready and excited for the upcoming Metaverse AMA (MAMA).
We selected 10 raffle winners and sent 100 $SNGold to each. Congrats to all the winners!
During the MAMA
The community had a great learning experience about the functions and advantages of Encentive as well as having fun exploring the SNW metaverse.
The MAMA consists of 7 deep questions about Encentive.io. For those who want to recap and for those who have missed this great panel, the script is attached in the appendix.
This successful MAMA with Encentive has truly proven that metaverse AMA is a future trend. And we will release more latest details about the collaboration later!
Thank you so much for everyone’s participation, looking forward to seeing you guys again!
About Encentive.io
Encentive is the Web3 OS. Encentive host network, application and business layers enable one-click deployment of Web3 applications including DeFi, NFT, GameFi, and more. Encentive also creates the world’s first Fiat-DeFi payment system while open to third-party integrations of cross-chain bridges, derivatives, and more.
Visit our TG/Discord/Youtube/Medium and more at @Encentive_io | Linktree
About SNW
SNW is a Web 3.0 Social Metaverse Aggregator Platform for all live NFT projects by providing three unified tools, for instance, tokens, avatars, and social space, for all participants, investors, partners, and collaborators. Adhering to the belief of “from the players, by the players and for the players’’, SNW endeavors to become the first and fore-mostly stunning community-driven NFT Infrastructure SocialFi on Web3.0 by empowering all JPGs with more interactive use, application, liquidation, and Social Gaming case scenarios.
SNW — The Layer 0 Metaverse that connects all live Web 3.0 Projects.
Join us
Website | Twitter |Facebook |Discord |Youtube
Appendix
1. Please introduce yourself and Encentive project briefly.
My name is Jacob, co-founder and global community lead of the Encentive.io protocol. A PhD graduate from The University of Gdansk (Poland) with over 10 years of professional experience, I have a proven track record in the blockchain industry since its early days (2013), as well as in the AI/IoT sector since 2014.
I am also former CTO at Fragma Metaverse as well as a Senior Investment Manager at Terminus Technologies, a Senior Business Consultant and a Business Advisor at Blockchain Global.
Encentive.io aspires to become a global Web3 OS. The way we are going to achieve this goal is by introducing different value propositions to different types of users.
The first major feature of the protocol is its cross-chain interoperability. All DAPPs deployed via the Encentive protocol can be accessed and used from different chains, therefore allowing both the migration of users and the TVL they bring over different public blockchains without unnecessary exposure to the systematic risks of using standard bridging solutions.
From a user experience standpoint — it should not matter for you which chain your assets are on, a common and serious obstacle for new users to overcome.
We also strongly believe that what’s needed to make Web3 services more accessible for those new to the space are simplified fiat- cryptocurrency on-ramp/off-ramp channels which we also provide thanks to our strategic partnership with one of the leading fiat-crypto hybrid payment providers — Alchemy Pay.
Thanks to our cooperation, users can now purchase their favorite digital asset from their default blockchain using a variety of more traditional payment methods including Visa, Mastercard and Binance Pay.
We also provide a wide scope of development tools making it easier for 3rd party projects to deploy more advanced solutions which recently have become a standard in DeFi including DEXs, LP pools, single-asset staking pools, NFT marketplaces, and airdrops/bundled on-chain transactions.
Those are especially valuable for new projects emerging in the DeFi/NFT/GameFi space, since they significantly contribute to reducing their overall development expenditures.
2. Please tell us more about the idea behind Encentive and its future development.
The total scale of the Web3 industry is currently very limited. We’re talking about millions of users currently. Taking MetaMask as an example, with around 30 million users, the company still pales in comparison to Web2 projects and technologies.
We want to think in terms of billions, not millions. In order to achieve that, the industry needs to become more scalable. If Web3 is going to be the new internet, then it must be able to scale to billions of users.
Having said all that, it cannot be denied that the growth of Web3 has been rapid, even staggering. We now have access to thousands of apps offering useful products and services.
The issue, though, is that these apps are deployed across hundreds of independent and sometimes barely interoperable blockchains. These same apps often have different user experiences, different user interfaces. It takes being a crypto native to navigate them successfully.
Users need to get familiar with each ecosystem, join the community, keep up to date with project updates, announcements, and issues (such as hacks, maintenance, and system upgrades).
It’s like watching our parent’s generation navigate modern tools and technology. Users need to understand gas fees, setting up a wallet, connecting to Web3 applications, etc.
We aim at making Web3 more accessible to everyone, and this is the direction we have chosen to follow.
3. At this time, Encentive is unique in that it offers B-end users a number of different functions. Could you explain to us why the Encentive team has selected this strategy?
Of course. What would be useful to understand at this point is the overall life cycle of blockchain protocols and how the fierce competition in the space actually impacts them.
Businesses on the blockchain want to provide a service to their users, yet most Web3 companies that already secured their position in the industry as market leaders fail to evolve and develop new products and services that could translate to bigger scalability and adoption of their own protocols and products.
Let’s take Uniswap as an example — the leading DEX on the market. Uniswap has invented a genius protocol which revolutionized the industry, but what have they ever done to lower the barrier and onboard new non-crypto users to their platform? Most people still don’t know how to provide one-sided liquidity and set limit orders on UniswapV3, and we don’t see that changing anytime soon.
When it comes to smaller projects, teams will deliver an MVP to their users, issue a native token, gain revenue from token sales, transaction fees, and NFTs, but then find that it’s too difficult to compete with the big players in terms of development. Smaller projects can’t keep up with the teams and technologies at the top of the industry.
The development of new protocol features takes both human and financial resources, and you have to act fast before you run out of funds (assuming you managed to secure any funding whatsoever) and develop features that will actually provide you with any sort of external revenue.
This is where Encentive.io comes into play, since we equip protocols at early stages of development with development tools, the use of which minimizes their development expenditures and reduces the time it takes to deploy the most desirable features.
4. Are there any products in the market that offer the same functions as Encentive? What’s the advantage of Encentive?
At the moment of writing, I am actually unaware of any protocols offering competing features, given that the scope of solutions we have been providing since the inception of the protocol has been constantly expanding. I would say that the major advantage of Encentive is its simplicity.
Back in the day you needed (and probably still need to some extent) actual programming language skills to create a good-looking and functional website — these would include HTML, advanced CSS, JS + frameworks (React, Angular, Vue), not to mention other back-end languages and corresponding dedicated frameworks.
As time passed by, companies started to offer solutions for users who are less tech-savvy such as WordPress (in the early days), Wix, and many more.
The counterparts of such services in the Web3 world are still in their infancy, simple because the whole industry is relatively new compared to Web2.
Using Encentive you can actually deploy your own decentralized applications using building blocks just like you would with a website these days.
The entire platform is as easy as it can get to navigate, mostly consists of predefined drop-down options to choose from, and everything else is done for you under the hood.
You choose the type of protocol you want to deploy, type in/choose the crucial parameters, customize the front-end/interface and you should be good to go.
5. All functions provided by Encentive focus on Web 3.0. How does the Encentive team view the development of Web 3.0? What development stage do you think we are now in?
We all consider Web3 to be another milestone and a necessary step in the evolution of modern Web-based services.
People should be granted access to web services without the infringement of their privacy rights and becoming victims of oftentimes questionable practices of big corporations offering products all of us can no longer live without.
Back in the day, opening somebody else’s mail delivered by the postal service used to be a federal crime in the US. These days though countless people read the emails that we send thinking they are private, not to mention trade our web engagement and traffic data for profit which is later fed to advanced AI/Big Data algorithms for the sake of target advertising.
We strongly believe that Web3 is a new paradigm which will set new standards for further development of products in the space. The remaining problem is still the marginal adoption and detachment of Web3 services from retail adoption.
I think these days more and more people are starting to understand what Web3 is as opposed to Web2, and the most recent popular trends such as Metaverse, NFTs, DAOs and GamiFi seem to confirm this thesis. I can easily see more and more projects following the principles of Web3 being developed in the foreseeable future, but the differentiating factor between the solution providers will be the overall efficiency and pace at which certain milestones can be achieved.
At the same time, we don’t want to partake in the tribalism which is so common in the cryptocurrency space these days, therefore we try to come up with blockchain-agnostic solutions which will hopefully prove useful to a larger audience covering different types of projects and communities.
After all, Web3 is a bigger concept which simply cannot be limited to one particular technology provider, let alone the protocol.
6. At present, it is clear that we have entered a bear market. Do you think this will have an impact on the development trajectory of Web 3.0?
The performance of the majority of digital assets is positively correlated to the performance of BTC, the price of which is affected by the wider stock markets.
The overall macroeconomic situation right now is far from ideal, therefore I am expecting the markets to take longer to recover from the current downtrend.
I wouldn’t say the bear market would impact the development trajectory of Web3, but it will definitely slow down the whole process.
That’s not necessarily a bad thing, though. Bear markets are where millionaires are made, and the same rule applies to the protocols and solution providers to some extent.
Even though it is impossible to predict the bottom of the market, bear markets are the best possible time for protocols to focus on building and development instead of marketing and fundraising. It’s also best for protocols to launch at the bottom of the bear market instead of the top of a bull market for obvious reasons.
7. What are some advantages of Encentive defi-fiat on-ramp solution?
xxx project is going to Share the volume and traffic of Binance.
For the otc service, I have noticed that $racefi has been listed on Kucoin and Raydium
And we have got some of our advantages in our fiat-defi payment system:
Compared to other payment service providers
1.We support Binance PAY, so Binance users wouldn’t need to come to solana or Kucoin to buy your tokens, so xxx token is able to share the traffic and volume of Binance in order to greatly raise community awareness.
For gamefi projects:
Even users who are not your players, they just pay attention to gamefi tokens but not games, are still able to buy racefi tokens via binance pay, which is going to greatly drive the mass adoption of your tokens from just blockchain game players to the whole crypto users, and even web2 fiat
3. Thirdly，encentive provides Smooth,fast and friendly UX
(No bridge, no withdrawal from CEX)
Users especially Binance users wouldn’t need to transfer their tokens using cross-chain bridge or withdraw tokens from exchanges, which is complicated and reduce much
