Ask Me Anything with Meloot token at ICOSpeaks
February 21-th held an Ask Me Anything session at ICOSpeaks telegram chat. From the Meloot token side there was:
Before we go to the first set of questions, could you please do a short self-intro?
👨💻Ivan Milutinovic – @m1lut Chief Executive Officer
I am Ivan, and I am the CEO of meloot, glad to see all of you join our AMA
Long story short, I have been into crypto for a few years now, starting in 2016 when I first got interested in Bitcoin. Building the meloot platform became a dream of mine and with our team we have been working on meloot for over a year now. The project has gotten great response with VC and Launchpad backing. The meloot app is already live at https://meloot.com
👨💻Adrian Poznic – @A_meloottoken Chief Operating Officer
Hello everyone,as mentioned earlier, I’m the COO of meloot. We’re looking forward to answering your questions!
Let’s get started!
Q: What is meloot?
A: Meloot is a social commerce platform that runs on the meloot token (LADA). We are a video and live commerce platform that converts visitors into buyers more effectively than any other e-commerce platform out there. You can think of us as a combination of TikTok and Amazon, combining TikTok’s user interface with Amazon’s e-commerce capabilities – connecting people with products they like through videos and live streams. Video commerce amounts to 10% of Chinese e-commerce and is in process of coming to the west which means that there is a potential 700 billion dollar market that we are creating!
Q: What is meloot token?
A: Meloot token (LADA) powers the first ecosystem of social e-commerce on Cardano. It can be used for buying physical and digital products, when spending meloot on platform you get cashback and discounts, you can also use LADA for promoting content, for staking, and for governing. It can be earned by selling products on-site or via affiliate marketing products both on and off-site. And this is just the beginning!
Q: Why now is the right time for video commerce?
A: Well, there are a couple of things that make “now” the perfect time. The first one is definitely the effects of Covid 19. Covid-19 rapidly transitioned people to online shopping and laid a foundation that online shopping is in a way an improvement over brick and mortar stores. Aside from this, the wide implementation of 4G and 5G technologies finally enabled features like video commerce and live online shopping. Prior to this, video commerce just wasn’t enjoyable. It was practically impossible to create a pleasant user experience due to poor internet connections and the quality of hardware that we had for this type of ordeal. Today we can stream and watch videos on our phones and enjoy them as we did with pictures 15 years ago!
Q: What’s the main idea behind the meloot app?
A: The idea behind the meloot platform originated from the lack of video content in e-commerce and the complexity of the affiliate marketing system. In order to affiliate market anything before meloot, you needed at least two platforms – one from which you get the products and another one on which you advertise them. Why not do everything on the same platform? That is where meloot comes in, we are living in a world where a lot of high-quality products go unsold while their lower-class competitors are breaching sales through the roof. We are also faced with a significant number of influencers who possess photo and video editing skills and are also a great conduit for relaying various messages to their followers but dont have a way to monetise that. These two are made for one another and our mission is to bring them together. Influencers are the sales team of the future that will drive the next generation of e-commerce by advertising and direct selling and there is no better place for them to do so than on meloot.
Q: Who are our partners?
A: We have lots of partners, the most notable being KICK.IO the biggest Cardano launchpad, on which our seed sale is currently live. We also have VC backing from Fil Rouge Capital, the biggest venture capital fund in Croatia. Well that is just the start, business wise we have partnerships with L’Oréal, Infobip and Amazon. We are going to start selling L’Oréal products on site in the coming weeks. We are part of the Amazon Web Services Activate program which accelerates high promising startups. And gives us both development and business support
Q: How to get Meloot token (LADA)?
A: You can currently get meloot token (LADA) in one of two ways. If you want to invest between $50 and $100k you have to: 1. Go to https://kick.io/launchpad/lada-ada 2. Register on KICK 3. Send ADA to KICK 4. Buy LADA. On the other hand if you want to invest $100k or more you have to go to token.meloot.com and fill in the private sale whitelist after which someone from our team will get in touch with you!
Q: What makes the meloot platform innovative?
A: The meloot app is innovative because of it’s key features which are The Creator’s marketplace, The Merchant’s marketplace, Live online shopping, Video-based interface i.e. Video commerce, and the above-mentioned Integrated affiliate system – currently, there is not a single platform on the market that has integrated the advertising and buying process. Although the main thing we would like to point out is selling products with video.
Q: The site has 2 marketplaces, one for creators and one for merchants, could you explain them a little bit further?
A: Of course! As you mentioned, there are 2 marketplaces on the platform: The Creators marketplace and The Merchants marketplace. The Creator’s marketplaces will enable any user to become an influencer and access products that they wouldn’t be able to affiliate with otherwise. We’re switching it up, why would firms find influencers, why not let the market sell your products for you! The reward is given in meloot token. The Merchant marketplace enables anyone to put their products up on the site and sell them via video. The only difference is that now they have the sales force of the future, The Creator’s marketplace to sell their products for them free of charge, a self-sustaining system both supply and demand wise!
Q: Could you explain how the creators on the site are rewarded?
A: Creators receive rewards for every product they sell via videos. Reward amounts are determined in meloot tokens (LADA). Influencers will receive a certain percentage of total sales made through their content. The percentage received will vary from seven different variables which we will use to measure the success rate of both the video and the influencer. Our goal is to:
1. award and encourage content quality,
2. incentivize video creating – bridging the gap in supply and demand between certain videos and categories,
3. encourage relationships formed between influencers and their followers,
4. strengthen relationships formed between influencers and merchants.
The variables we use to determine the affiliate video’s success are the number of views, engagement rate, growth rate, merchant deficiency, product deficiency, view length, and conversion rate.
Q: Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
A: Thank you for your question. As we mentioned, what makes us different is our features. The 3 features we would like to point out are the Video-based commerce interface, The Creator’s marketplace, and the integrated affiliate one app system.
Q:How can we trust YOUR project will not rug pull later and how safe is your smart contracts?
A: Our Tokenomics are made in such way that no single entity can rug pull the project, the project tokens are vested longer then the investors tokens and the same thing is true for the team and advisors tokens (12 month cliff) so there is no possibility for a rug pull. Our whole team has shared their personal info publicly and we are trying to be as transparent as possible! The token contract has not currently been audited, but it will be and we plan on listing on centralized exchanges which also require audits.
Q: Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
A: Meloot token is a utility token that powers the meloot platform. The value of the coin is correlated with the success of the features like The Creator’s marketplace, and the most important thing is to keep in mind if the meloot platform grows, so does the value of the meloot token. If you have a bullish perspective on the Creator’s economy, you have a long-term perspective to hold the meloot token.
Q:What is your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
A: Currently, we’re focused on the development of the iOS and Android apps are in full swing. We started the development of The Creator’s marketplace and live-streaming feature which are the two features we are looking to launch first. The Merchant marketplace development is set to start in Q3 this year. There are two big things set to launch later this week, we will be deploying the finished desktop user interface/application together with the whole Loreal catalog. For a more detailed overview of the development goals, we encourage you to look at The meloot Roadmap and follow our Medium where we go more in-depth.
Q:Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
A: I could write an essay about our teams qualifications but I dont have the time so I will give you just snippet of what our team can do and you can check all members of our team and their backgrounds in detail on LinkedIn. Our VP of Engineering Iva is currently finishing her PhD in Computer Science and has previous experiences in the crypto world. She helped develop the blockhain in e-government project for Ericsson Nikola Tesla. Our Chief Technical Officer Jurica Papak has been working in automation and web development for years and has numerous awards to show for, we developed the meloot app which is currently live in record time and I think that the fact the app is live is one of our greates strengths.
Q:Can you share some Details about Recent Major Achievements done by your project? Also, what are the Future Roadmap & Targets of your project?
A: Of course, we are very proud of our partnership with Loreal and are eager to start selling their products via video. We’re launching the meloot desktop app together with the Loreal catalog later this week.
ICOSpeaks hosted an AMA Session with the Meloot token Team. That’s all for today.
Thanks to all users who participated.
Thanks, Meloot token for being with us
Thanks, all and see you soon😉
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