September 29-th held an Ask Me Anything session at ICO Speaks telegram chat. From the GoFungibles side there was : Majita Rosovic | CEO | @MatijaRosovic
Hello everyone, My name is Matija Rosovic, and I am the CEO of GoFugibles. I have worked in the real commodity trading and financial world for the past 11 years. I graduated from law school, building my thesis on commercial law and finance instruments.
I worked for the LME stock exchange and was an advisor for some of the top EU metals suppliers. I turned my focus on crypto in the last year as, in my opinion, this technology will be the future of finance and trade. The form it has and the instruments that are available to us will be noticed in our idea and project that is the GoFungibles project. The future is now..
Let’s get started!
Q:Can you give us an overview of GoFungibles? What is your vision and mission for this project?
A: GoFungibles is a Platform that will accommodate an NFT marketplace, a play-to-earn multiplayer mobile runner game, and a blend of new and existing DeFi features to bring added liquidity and utility to otherwise idle NFTs. We aim to launch a one-stop solution for users to mint, trade, and earn NFTs and platform tokens with an intuitive front end-user experience.
Gofungibles will also enable its users to earn a passive income by playing the mobile endless runner game with NFT assets and stunning visuals while enhancing user experience by eliminating the auto-battle system and encouraging user interaction, a desired feature for blockchain games. We will initially deploy the marketplace on Polygon(Matic) and adopt the Lazy minting feature to combat high gas fees issues on Ethereum.
Q: What are your most noticeable and new DeFi features?
A: Alongside conventional Staking and Yield farming, GoFungibles will open up a whole new avenue of leveraging the NFTs to create an income source that is still largely unexplored by adopting features such as:
NFT Staking and Farming
GoFungibles aims to provide an intuitive and user-friendly staking portal making NFT staking and farming easily accessible for the masses. To get started with NFT farming, owners will have to lock their approved NFTs into the platform’s staking pool to begin earning rewards in the form of $GFTS and limited edition NFTs. GoFungibles will also enable users to easily port their compatible NFTs from other major platforms for Staking/Farming. Eligible NFTs will have to be listed on the GoFungibles platform first.
NFT Collateralized Lending and Borrowing
GoFungibles aims to bring NFT collateralized lending and borrowing portal through which users can borrow against NFT tokens, use NFTs for loans, and turn idle NFTs into active yield. NFT loan and leasing marketplace will allow users to earn passive income and, more importantly, lead to more accurate valuations of these assets.Furthermore, GoFungibles will bring liquidity and adoption to NFTs by using a community-run decentralized NFT valuation process leveraging a user-friendly interface. GoFungibles will use APIs and voting systems to determine the efficient price discovery of an NFT.
Gamified NFT and Yield Farming
GoFungibles users can utilize this feature by playing the platform’s native play-to-earn endless mobile runner game. Additionally, players will be able to earn in-game currency and NFTs from within the game.Accumulated yield and NFTs can either be traded on the platform or utilized to upgrade your NFT characters, boosting their powers and maximizing earning potential.
Game NFT Leasing
GoFungibles will adopt NFT leasing, a unique revolutionary way to capitalize on your game NFTs inducing further liquidity and utility. This feature will allow owners to lease out their in-game character NFTs for a fixed time while claiming back a percentage of the earnings. Additionally, GoFungibles will utilize smart contracts to ensure the process is seamless and decentralized.
Q: Do you have a plan to include staking in your ecosystem? If yes, when will the staking program be launched?
A: Yes, we have a staking plan alongside the NFT staking/farming; we will create our own smart contract for Staking and NFT farming. For liquidity farming, we have made an exclusive partnership with the Tosdis platform, which provides the decentralized features in which yield farming/liquidity farming is one of those.
Once the Token Generation event is completed (TGE), we will open the Staking and Liquidity farming for the Gofungibles community.
Q: Can you give us an overview of the platform’s runner game?
A: GoFungibles game is a feature-packed endless runner game with both single and multiplayer modes. In addition, players can earn in-game currency, utilized for several upgrades such as abilities, powers, weapons, speed, shield, etc.
The environment is detailed and full of interactive items. Each game level is carefully crafted to offer unique visual styles that are pleasing to the eye. In addition, levels have diversified obstacles that the characters must jump over, slide under or dodge to survive.
Game levels have various artifacts in abundance that players can collect. These can be later combined to accumulate a unique NFT. Each NFT will have distinct characteristics, some are wearables such as upgradeable skins (which can also be bought in the marketplace), and some offer limited-time boosts. The in-game currency will be exchangeable with $GFTS using price oracles.
Q: What does your roadmap look like? What milestones have you achieved?
A: We have been able to achieve considerable success in terms of kickstarting the project. We have released our website and a first version of the whitepaper to help users find more information about the project. The development stage is also initiated, and we plan to launch a base marketplace on Polygon (Matic) in the coming weeks. A prototype demo of our mobile game is also ready and undergoing performance and visual upgrades.
Some of the expansion features on the roadmap will include deploying our marketplace on Ethereum main-net, partnerships with leading artists and creators, a closed beta launch of the mobile game to our community for feedback, a DAO governance system, conventional payment methods integration, expanding our DeFi features, and token listing on various exchanges.
Q: What role does the $GFTS token play in all of this? Can we have more details about tokenomics, supply, and allocation?
A: $GFTS is a governance and utility token with multiple purposes that range from running the GoFungibles economy to voting rights through a decentralized governance system. Additionally, $GFTS will be utilized to upgrade in-game characters and staked for competing against other players in Multiplayer mode.
The supply will be limited to 1 billion tokens. It will be allocated logically distributed across different sections, such as the ecosystem (21 million $GFTS), openly available for the public to buy (3 million $GFTS), and other various purposes. A complete tokenomics model with allocation can be found on our website.
However, the GoFungibles Platform has the potential to grow on a large scale. This could potentially create a need to mint additional tokens for sustaining the ecosystem. The minting mechanism will be decentralized by using smart contracts and constructed to reduce the impact on the token price to a minimum, exclude the risk of exploits and hacks, and add an adequate number of tokens to circulation. The platform will also adopt a deflation system to limit the number of tokens in circulation, thus maintaining a healthy value.
Q: What future plans do you have for your community?
A: GoFungibles has a lot of new features which could help and support the community in different ways, such as:
Artist donations:
Supporting your favorite artists in the form of donations produces a fantastic incentive for creators to generate more quality art. This feature exists outside the blockchain ecosystem; however, it is not adopted in NFT marketplaces. GoFungibles aims to highlight and promote talent while enabling them to earn more for their assets. A simple interface for the community to donate to their favorite artists and NFTs. The donated amount will be paid to the artist and also added to the value of NFT.
Community chat rooms:
GoFungibles is more than just a marketplace. It is a whole social system with friends, acquaintances, and other people of similar interests. You will be able to communicate with other users and find like-minded people, commission artists for customized NFTs and even start groups to buy and invest as teams Or you can just come online and socialize with people from all over the world.
DAO governance systems:
A genuinely democratic society creation is our target, where the individuals and users can participate in the decision-making on GoFungibles features. For example, the $GFTS token holders can vote on new FUNGIBLES services remodeling existing ones or determining the value of an NFT when required. The DAO methodology encourages users to be more active, as their actions will directly affect the platform’s outcome and future.Secured and Verified NFTS (DAO). GoFungbiles will employ the DAO voting system to approve credible stores. Once verified, a checkmark will appear next to the store name, its collections, and NFTs. This will bring credibility and an extra layer of security to the platform.
Q: Who are GoFungibles’ current partners and backers?
A: Yes, fairly, we can say that the whole project is self-funded. We have few exclusive partnerships related to platform development, game development, business development, and marketing activities. The platform development is under the umbrella of a company that has years of experience in the field of Cryptocurrency, smart contracts, and blockchain.
Apar from this, we have partnered with top tier VC, Projects and service providers to smoothly execute our financial, business and go-to market strategy. Details of all our partners will be disclosed over the course of next few weeks as we continue our journey in the crypto industry. So stay tuned for our future AMAs and project updates.
Q:Do Token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
A: The $GFTS token holders can take part through voting on new services, remodeling existing ones, or determining the value of an NFT when required. The DAO methodology encourages users to be more active, as their actions will directly affect the platform’s outcome and future.
Q:There are so many investors just focus on the price of token in the short term period instead of real technology of the project. Can you tell us the motivation and benefits for investors of your project to long term?
A: We have a very robust designed revenue model, which we will highlight in the next version of WP, but a few significant figures are below:
Platform
■ An equal standard fee applies to every sale for both buyers and sellers (2 to 3 %):
a. Fee for $GFTS holders and utilizing $GFTS to buy NFTs = 2%
b. Fee in other crypto = 3%
■ A steady stream of revenue from Sellers using $GFTS to feature their NFTs on the platform
■ Exclusive artists/influencers partnerships and platform’s elite NFT drops 1
Game
■ A 3-5% conversion fee for exchanging GT( in-game virtual currency ) to $GFTS, distributed to the ecosystem, rewards pool, and a percentage will be burned for deflation
■ Revenue from the sale of character skins, boosts, and Gems as NFTs for mobile game
■ A fixed percentage from PVP match fees
Q:What is the Best way to follow All your Upcoming news and updates? What are your plans in coming Future?
A: Everyone can follow our project via the website and other social media, links of which will be available at the end of this AMA session. We are adopting a lot of exciting features such as Fractionlized NFTs, NFT staking and farming, Gamified yield farming, Creator royalty rewards, play-to-earn mechanism and much more
Q: Where can I buy your tokens now,, what are your current contracts and how can I buy them and what are the benefits?
A: Our token is not listed on any Exchange as of yet, we are in middle of completing our private rounds
Q: Too many projects promise magic but never to release any working product more prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
A: am 100% agree with you, but we are far different from the others. We have developed a game already, and the demo will be available very soon alongside the platform is in the development phase, and it will be released very soon even before the TGE that represents the team credibility and performance and rest you can read on our whitepaper
Q: Can you tell me more details on the IDO? The schedule and contribution for each?
A: I am hoping that I have covered everything regarding our project. Seeing as there are so many questions and interests from this lovely community, I would be happy to answer them in the GoFungibles social media, including the official Telegram group
ICOSpeaks hosted an AMA Session with the GoFungibles Team. That’s all for today.
Thanks to all users who participated.
Thanks, GoFungibles for being with us
Thanks, all and see you soon😉
Cheers 🥂
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