The AMA Room
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The AMA Room

DigiCol AMA with Eric Shim

Brief Information

DigiCol aims to offer one-click NFT creation with no coding required. Users can create own digital collectibles and earn rewards by launching them into a liquid NFT marketplace.

Introduction AMA

Eric: Hi @ericshim77!

Eric Shim: Hi there! Glad to meet you guys!

Eric: Welcome to the AMA room! From which city are you guys logging in?

Eric Shim: I’m from Seoul! How about you?

Eric: From a secret location! So we would like to know more about the founder of this intriguing project. Tell us a bit about your background and how you came about to discovering crypto?

Eric Shim: Yes. I’m the CEO at DigiCol. I have expertise adopting the implementation of blockchain infrastructure within enterprises. I spent the past three years at Hanwha Group helping financial enterprises optimise their digital strategy.

With my track record of guiding leading enterprises to successfully deploy various digital businesses, I’m prepared to lead the efforts to design and deploy DigiCol. Crypto came to me like fate!

Eric: What was your first crypto purchase? Hope it wasnt XRP!

Eric Shim: Haha, Ye, I think it was started from 2017. At that time, Bitcoin was less than $10,000.

Eric: Interesting. So in your own words, what is Digicol?

Eric Shim: DigiCol is One-click NFT Platform with no coding required, that lowers the entry barrier to create something for normal users. Users can create their own digital collectibles and earn rewards (DGCL) by launching them into a liquid NFT marketplace.

Eric: So it is its own NFT marketplace too? like opensea or rarible?

Eric Shim: You can think so. We will be the platform that provides the most seamless user experience in the NFT world. Also, unique artworks

Eric: and you can also lend stable out of your nft on digicol?

Eric Shim: Yes. There have the loan system. I can explain it. There are two parts, the borrower part, and the lender part.

A Borrower can put any NFT up for collateralization. Other users can offer a loan. If the borrower accepts the offered loan, the ETH, USDT or DGCL gets paid out from the lenders account to the borrower and the borrower’s NFT gets locked in the DigiCol smart contract.

Once the borrower repays the loan the asset will be transferred back to the borrower. If the borrower doesn’t pay back the total repayment amount before the due date, the asset will be transferred to the lender.

A Lender can browse his favourite NFTs like domain names, decentraland assets, cryptokitties or any other NFT and offer loans on assets he’s happy to back.

In case the borrower doesn’t pay back the loan the lender gets the asset. Small, short term loans to other people can offer attractive returns.

Eric: wow. everything is here. so lets back up a bit. What are NFTs and why are they important?

Eric Shim: Maybe you know well what it is. However, I think NFT has a lot of value that means the tokens are unique and indivisible.

NFT is issued based on a variety of real assets ranging from game items, intellectual property rights, real estate, and fashion, and is expected to exert synergy as it is combined with new technologies such as DeFi and virtual reality.

Eric: What is your projection about NFTs for 2021?

Eric Shim: With DeFi, NFT is expected to be a hot keyword next year. DigiCol will also launch a beta version of the platform after IEO.

Eric: When is the IEO?

Eric Shim: Probabl I hope all member know the time. The IEO has already been carried out, and the listing will take place soon.

DGCL/USDT spot trading pair will be available on ACDX on 29th December 2020.

*DGCL will also be listed on Uniswap against ETH on 29th December 2020.

Eric: What is the token and what are the uses of it?

Eric Shim: DGCL is based on ERC21, so NFT can be traded fractionally. DGCL have a role of our tokenomics with liquidity.

DGCL is used to reward digital collectible creators every time their collectible is being traded. DGCL should be earned by active participation on the platform. We reserved a certain number of tokens to be issued every week, with 50% reserved for buyers, and 50% for sellers.

Eric: wow.

Community AMA

Q: User interface is highly essential when developing a platform as yours. Is DigiCol user-friendly? What effort are you making to help ensure you continually improve on your UX service so as to help you onboard real life users?

Eric Shim: I think DigiCol will be the best user-friendly platform. Even I hate using when it is difficult. What I have felt in developing many services so far is that it should be convenient and useful for end users.
We are get together with UI/UX experts to design it with fiting the concept. Onboarding is also trying to make it more convenient than any other blockchain service.

Q: How will freelancer artists benefit from one-click solution for NFTs on Digicol? Are you an enemy or friend for them?

Eric Shim: Artists can increase the value of their work through participation in our NFT platform. You can be rewarded with material value as well as recognition. Also, we plan to provide various promotions for talented artists.
We are currently in partnership with famous artists, and we still want to provide many opportunities for artists to participate. So, if there are artists here, please wait a bit.

Q: I’ve seen a lot of defi projects pop up recently, and die from a lack of liquidity and confidence in the dev. question how do you convince investors because of this problem?

Eric Shim: We know it well, and we have grown up from many failures. Currently, we are discussing with various experts to solve the pain points of new coins.

And we are doing an IEO alone on the ever-growing ACDX exchange to convince investors. ACDX will be one of the pillars of trust as an exchange, and DigiCol will also contribute.

Q: How do holders of the token benefit in the ecosystem? Why should people care to own a Digicol.io?

Eric Shim: DGCL is used to reward digital collectible creators every time their collectible is being traded. So, Artists, Buyers, Sellers, Liquidity providers can get revenue through participation in the platform.

Q: Can you tell us about some of the partners Digicol is currently working with?Can you expand on Digicol’s recent focus on DeFi?

Eric Shim: We are currently receiving advice from various angel investors. In particular, our core advisor, Andy of ACDX is helping us a lot.

DigiCol is an NFT platform that inherits the concept of DeFi. Therefore, our Tokenomics has a lot of DeFi functions such as liquidity mining.

Q: How do you plan to promote Digicol NFTs? and Are there any certain requirements for users who want to buy and sell their NFTs in that marketplace?

Eric Shim: First of all, DigiCol does not have any barriers to participation.

DigiCol will show a gradual expansion rather than a radical expansion. In particular, the NFT platform needs to create an economical structure to generate network effects between participants and sellers. To this end, we will expand the market through collaboration with unique artworks.

Closing Remarks

Eric Shim: I think that’s it

Eric: Thats a wrap! @ericshim77 pleaes invite people where to follow the project and also where and when they can buy the token.

Eric Shim: This will be guided by our cool CMO, David.

Our IEO has ended successfully! Please look forward to listings that will take place tomorrow. :)

Eric: Thank you everyone!

Eric Shim: Thank you so much!

To join in on the discussion feel free to join our group @amaroom

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