July 21-st FanVerse held an Ask Me Anything session with the ICOSpeaks team at our telegram chat.
1️⃣ Block 1 – self introduction from today’s speaker Before we go to the first set of questions, could you please do a short self-intro?
👨💻 MB | Project Manager | @rockytothemoon I’m the Project Manager for FanVerse and have been in the crypto/Web3 space for about 2 years now. I have a background in the Aerospace industry and have helped manage teams and projects in excess of $600m. I came on board with the FanVerse team back in March of this year, and have been leading the product development of our NFT Marketplace and Coin.
2️⃣ Block 2 – project introduction by speakers
First set of questions to introduce the project! Q: Can you introduce FanVerse to the team? A: FanVerse is the first NFT Social Media Marketplace that provides Creators and Collectors a seamless user experience integrating both social media and Web3 in a decentralized manner. It takes some of the features we all love about social media platforms and integrates those into an NFT marketplace that allows a user to showcase their NFT’s while engaging with their favorite Creators
Q: Who are the founders? A: Mike Vazquez and Dillon Shamoun are the Founders of FanVerse. Both have vast networks in the Music, Social Media and Reality TV industries.
Dillon has started, managed and grown over 13 different music festivals with upwards of 70,000 attendees at a single festival. He also managed multiple of the top DJ’s in the world. He is still closely integrated within the industry and is bringing some of the biggest artists onto the platform. He also owns one of the top agencies for Instagram verifications, and has completed over 500 different verifications for many of the most popular instagram accounts in the world.
Mike is a star on MTV’s Siesta Key Reality TV show. He is closely connected within the reality TV space, and consistently interacts with other big celebrities, billionaires, and some of social media’s biggest influencers.
Each of these networks and industries will bring culture and some of the biggest names to the platform.
Both were also key marketing leads in the explosive success of Kishu Inu last year, proving that when they bring their networks together, they can make a coin with no utility hit over 2B market cap.
Taking their network and followings with them, they decided to start FanVerse. FanVerse caters to those who have never been in web3 crypto and those who are looking for a better, more engaging and user-centric NFT marketplace.
Q: When does the product launch? A: The platform is being released in phases over the next 4 months, with the first Phase launching tomorrow on fan-verse.io which is really exciting.
3️⃣ Block 3 – question from ICO Speaks team
Questions from ICOSpeaks team! Q: Can you talk a little bit about the $FANV coin? It looks like you have already launched it. A: We launched the token on the Ethereum blockchain back in February of this year and hit a $300m market cap within a month. We have also created an ecosystem that includes a Claim Portal, Staking functionalities, and a Swap.
Q: What is the staking functionality you have? A: A user right now can go and stake their $FANV and earn $FANV at very high APYs. We will also be releasing an extremely advanced staking protocol with the Phase 3 Release at the end of August. We call it “ETH on chain” and essentially what it is in simple terms is a user will be able to stake their $FANV and earn Ethereum. All calculations and transactions are done on the blockchain, keeping it completely decentralized with no input from the FanVerse team. This is important because it retains the security and transparency of the blockchain. Other projects have tried to do this, but no one has been able to keep it all on the blockchain which results in security risks and high overhead costs.
Q: Where does the Ethereum come from in this ETH on chain? A: The Ethereum comes directly from the NFT Marketplace. So it gives a $FANV holder who has staked their $FANV direct access to earning profits from the marketplace. The more $FANV a holder stakes and the longer they stake, the higher the rate of ETH they will earn.
Q: Can you tell us a little more about the NFT Social Media Marketplace? A: The marketplace is user-centric with a rich and modern design with the goal to make it as user friendly as possible. We are able to do that by using industry leading integrations like Web3Auth which allows a user to login with their social media login like Facebook, Twitter or Google account which creates a wallet for them automatically upon login. Once the user has logged in for the first time, they can mint new NFT collections on the primary marketplace and buy/sell/auction on the secondary marketplace. What really makes the platform next level is the social media components. Users will be able to take the NFT collections they have minted or bought on the marketplace and showcase them on their public profile pages that include a feed, grid and more. Users will be able to interact with Creators and other Users as well via likes, comments and an internal messaging system.
Q: Will you have an app? A: Yes, we are building an iOS and Android app as well which is forecasted to release in October of this year.
4️⃣ Block 4 – Community Voice. Community asks the questions they are interested in. Q: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities so they can better understand your project?
A:This is a great question, we have multiple International groups that anyone is welcome to join! I’ve added some links below to them.
Q: When will your tokens be listed on the exchange and which exchanges do you plan to list on in the future? A:We have plans to list on a Top 10 exchange in August, with multiple other exchange listings in the following months.
Q: Where can I currently buy Token? A:Right now, you can buy the token on Uniswap.
Q: Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product? A:Great question. Yes we invite the community’s feedback and suggestions, and incorporate those into our strategies and roadmap. We also really appreciate feedback about the designs, and user interfaces as well.
Our target audience are those who have never been in crypto or Web3 before, and also those who are just looking for a much better NFT marketplace where they can share all of their NFTs they have in their own personal collection.
Q: Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place? A:All of our current Smart Contracts have been audited and the NFT Marketplace Smart Contracts and ecosystem are being audited as well by Certik.
Q: Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us? A:We are adding a Resources page to the NFT Marketplace that will have videos, walk-throughs and documentation to help users to better understand the NFT Marketplace, Coin ecosystem, and even just Web3/Crypto in general.
Q: Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness? A:Yes, we have plans in place to reduce the circulating supply of the coin through burn events and other exciting opportunities!
Q: Southeast Asia is a very vibrant market and many project developed here so what do you think about Southeast Asia and do you have any plan to develop here? A:We are working to expand our communities in Southeast Asia and are looking at Exchanges that are popular in that market as well.
ICOSpeaks hosted an AMA Session with the FanVerse Team. That’s all for today.
