Wolfonaire Chatbox : AMA With NFT STARS (29th May, 2021)
Hello! Wolfonaire Family & Crypto Enthusiasts
We recently hosted an AMA With NFT STARS on 29th May, 2021 at 1.00 PM UTC. This session was phenomenal. If you have missed then here is the precious AMA transcript, for those who missed the live session this will enlighten you for sure…
Guest Speaker :
Mr. Anthony Checo| COO, NFT STARS
(Note: This is the transcription of the event. Please note that the transcript was edited for comprehensibility and coherency, while the content was not changed.)
Wolf : Question : Seems like NFTSTARS is now on fire. We are now wondering, do you have any
significant companies supporting the development of the NFT STARS?
Anthony : Well, absolutely! We have quite a few big crypto-players on the board which might sound familiar to you! Here is the list of our partners:
Pluto Digital Assets
AU 21 Capital
Point three ventures
In addition to them, we really wanted to attract the Chinese community, and we enlisted the support of the largest Chinese funds as well:
By having such big players on board of NFTSTARS we are confident of its outstanding success. Additionally, there were over 50+ big players that were inspired to partner with us, however, we’ve only selected those that were ready to promote the project instead of dumping the project once the NFT STAR token is listed.
Wolf : Appreciate That ❤️
Anthony : No problem at all, will be happy to answer any of the other questions as well ☺️
Wolf : Great Man 👏… Question: We see quite a lot of the NFT Marketplaces nowadays, however, why and how is your Marketplace different to the others?
Anthony : To begin with, NFT Stars is not a general Market Place but the whole ecosystem that consists out of a few products that are playing a role of the solution for the majority of the problems that artists, as well as users, now face.
Recently, NFTs have turned into a speculator, forgetting what creates value — art. Real artists — painters, musicians, and others just don’t know how to differentiate their real art in the current chaotic marketplace. We want to change the NTF market in favour of quality rather than quantity.
We will change the market not only with a high-quality approach to working with art and artists but also with unique features, give me a minute, I’ll write about it.
the features are as follows:
1- AR-layer solution — an opportunity to get into the NFT AR gallery using a mobile application that will be no different to a real-life exhibition.
2- NFT Quests — First quests with the help of NFT in the world, also played a role in creative marketing for us as well as creating a big community for the NFT Stars.
3- Fractional Trading — sale of high-value tokens in parts
4- Initial NFT Offering — Creative Launchpad using unique Shadow Staking system.
5- Pricing Scanner is a unique tool for evaluating NFT in the current market
So yeah, no one elese has it yet 😄
Wolf : MindBlowing 👏.. NFT market of NFT STARS provides artists and digital art lovers with more relaxed creation conditions. Can you briefly introduce it?
Anthony : Well, long story short, We’ve noticed that the current leading NFT marketplaces are like flea markets littered with similar items.
It is quite possible that there are diamonds among them, but among all the variety of goods and the lack of order, it is nearly impossible to find them.
That’s where NFT STARS comes in place — Our platform has a different approach — we are going to focus on quality rather than quantity — no more than 3 auctions per day, each of which is adequately promoted in our channels, exclusive NTF from celebrities, attention and individual work with artists, as well as unique functionality that we have already discussed above — it has no analogues on the market.
Wolf : So what is the NFTSTARS token? And what utility does it have?
Anthony : Thats a good question too! Especially prior to the IDO that is upcoming on 5th of June 😁 there might be some really big multipliers coming 🤭
So the NFTSTARS token which is called “NFTS” is one of the tokens that will be decreasing in its supply within the Platform’s use since the ecosystem is built around its buy-back as well as constant burn.
The utility is simple:
1- A Governance token to create a DAO NFT community (to vote and select artists)
2- Staking NFTS in our vault for a chance to participate in the Initial NFT Offering
3- A Reward token for the most active NFT STARS users
4- Owning a certain amount of NFTS tokens ensures eligibility for NFT discount
5- Ability to participate in NFT MANIA QUESTS with NFTS tokens
6- Platform Liquidity Mining using farming pools and vaults
7- Buy / Sell NFTs with NFTS tokens
8- Lower Fees for artists if they hold NFTS tokens
9- Ability to purchase special status on the platform to enable extra features
Hope i didnt fprget anymore.
So all of these features are assuring of the need for the token as well as giving the promising future of it.
Wolf : Awesome 👌🆒️🙌..So what is a FRACTIONAL TRADING? Could you describe it to our community?
Anthony : Sure thing!
As you know, some NFT cost crazy money nowadays. I am sure that Beeple will go down in history with its record sales of 69 million. And not everyone can afford to touch this history unless having 69 Million Dollars.
Now imagine that the artist has decided to grant the right to touch history? Not everyone will be able to afford to buy a whole artwork, but everyone can get a small piece of it for a symbolic 50–100$ which is when Fractional Trading comes in place.
This feature shreds the NFT (let’s imagine if it’s Beeple) into 100,000 pieces. That would mean that every piece will now cost 690$- which most of the community will be able to afford!
Finalizing, Fractional trading will be useful for those who cannot afford to purchase the full history as well as for those who are trying to sell expensive works on the secondary market.
Wolf : Interesting,Amazing Concept 👏. Initial NFT offering is a completely new public offering method, can you briefly explain the whole process?
Anthony : This can be simply called a creative launchpad — an opportunity to make fundraising for a project in an unusual, creative way — by selling NTF tokens, which will bring you the tokens of this project.
At the end of the NFT pharming period, the token will remain with the buyer as collectable and he can even sell it on the secondary market, if he wishes, or keep it as a souvenir.
We’ve also implied the “Shadow Staking” technology from the SpaceSwap project to assure of avoiding the Pool Rugs when staking your NFT (crypto guys know ;) )
Wolf : Your product already had a lot of partners in a short period of time, and declared yourself loudly through powerful promotional activities。 What is the secret of your success?
Anthony : We believe that we will measure the success of the project already after at least a few months after the launch. At the same time, we are aware of the strengths of the product, the presence of strong partners and are even more active for our community.
You shouldn’t think that we did everything quickly — our team employs more than 50 people, and we started development back in December 2020. Only after making sure that we are ready to provide the perfect technical solution, and having completed 90% of the work (Unlike most of the other crypto-projects) we’ve only then announced our product to partners and the community.
We are very glad that everyone is now very warmly received and excited about such expectations.
Sorry if it takes a bit long, yakes time to fully put the idea i to my message 😄
Wolf : This is really important,Proves that you guys are Damm serious for the mass adoption. So what are the plans and expectations after launching the product?
Anthony : Well, we are not just the dreamers that hover in clouds.
We are acting realistically: our program is the minimum — to get into the Top 8 largest NTF platforms, while settling in our unique niche — exclusive work with the world’s best artists, brands and celebrities.
On the other side, we are also planning on making first on the world NFT Exhibition in Australia now, and once it goes successfully, we will further start opening Exhibitions in Moscow and Dubai.
As for now, we are already negotiating with major world stars and are preparing several exclusive drops, which we will announce in the near future. I am sure most of you will enjoy the NFTSTARS.app once it comes out at the beginning of June.
And once again, we have an IDO coming up on the 5th of June that I’d highly recommend checking out!
Wolf : Thanks For The Details. Lets Move For The Community Round.
Now Community Question & Answer Session Began
Q1. Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
Anthony : You could check the team in here, just scroll down https://nftstars.app/en/artist/
Q2. Do you have any weakness in your project? How do you ensure community that your team is strong and will move ahead of those problems?
Anthony : Good one, we have a very unique tokenomics that is made around the constant buy back of our token as well as the constant burn.
Any fees from the marketplace comission will go towards the NFTS token buyback and then burn.
Which means that it will lower the total supply as well as increase the demand as well as the price of yhe token.
On the other hand, we have a marketplace mining system that will bring the use of the platform in the form of rewards in NFTS tokens which will make extra dand.
All of these as well as many additionaly features will be waiting for you on the nftstars.app 🔥🔥🔥.
Q3. Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake?
Anthony : It does support staking, especially in the Initial nft offering.
It will also be using the shadow staking system made by our spaceswap team for the safe staking process and avoiding pool rugs 💪.
Q4. As a new project, which is not known by many in the crypto space, for your project to go global, good marketing campaign and promotion must be carry out. How can we be assure that you will surpass our expectation term of marketing?
Anthony : Good one, we’ve contacted many marketing agencies as well as made a lot of connections with VSs and KOLs which are doing marketing for our project 🔥
We have gained the partnerships by many different countries as well
On the other hand, big players like Maker Dao are also helping us with that.
Q5. Raising funds for surviving is the most important key for any projects, so I am curious about that and background of Your Team team to drive project in long road as well as motivation to build TOKEN?
Anthony : Our project is actually self-funded mostly and is about tp get finished.
So when we are talking about investments — we are mostly looking for the marketing connections and nothing else.
We are not the typical crypto project with only an Idea- nope.
We have the functioning product that will soon be released, which is uncommon for tge crytpo community.
Q6. Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
Anthony : We have a huge background with a SpaceSwap project behind our back with no security issues which means that we have alrwady gained trust previously.
Furthermore, we also have the best It specialists as well as the legal team on board ensuring we are on the right track 💪.
Thank you guys for your questions!!! You’ve gotten some heat commin’ 🔥🔥🔥🔥
For any additional questions, please visit our group https://t.me/NFT_STARS and our support team or eve I will answer them all!
Now the session ends with lots of thanks to our Guest Speaker…
Here are some important links of NFT STARS
Website | Telegram | Twitter | Wolfonaire Family Chatbox | Wolf