March 3-rd held an Ask Me Anything session at ICOSpeaks telegram chat. From the Nitro Network side there was:
Before we go to the first set of questions, could you please do a short self-intro?
👨💻Anoop Vootkuri | CEO of Nitro Network | @anoopvootkuri
I’m Anoop Vootkuri, CEO of Nitro Network. Before this, I was CEO and founder of an IoT enabled micro utilities startup – Jiffy charge. We go acquired by Nitro to take it to the next level
I’ve been a part of the project for the last year and we’ve made some significant progress. I always believed IoT has the potential to change the world and will be a game changer for businesses and practically how we function!
And nitro has this vision and technology to deliver the grand vision for building the infrastructure for IoT to take off!
Let’s get started!
Q: Give us brief intro of Nitro Network?
A: You have been with us on our journey and that’s why you are very much a part of it. We started off by building private communication networks with an overarching agenda to impact every aspect of life. As we moved on we realized that bringing this together meant a whole of new thinking to be added in various fascinating ways. The Nitro ION miner was the first step to go the LoRaWAN way where miners could earn rewards by building and contributing to the network. From here we came up with the brand new vision of Digital Mining which removed the physicality and hurdles of mining, by substituting the Nitro ION miner with NFM – The Non-Fungible Miner.
To this we integrated the concept of Nesting (hosting) where people can become Nesters from anywhere in the world by sampling hosting on the nitro platform from their location. We built a well thought of reward structure placing one Nester in 1 km radius at once solving the problems of network congestion and inequitable distribution of rewards. With the Nitro Platform acting as a go-between between Nesters (hosts) and miners, we are enabling the perfect match for participants to build, grow and monetize the network and earn effortlessly from anywhere in the world!
This path-breaking concept which is well under implementation drives our vision today. Our NFMs are not miners people can buy from the nitro marketplace but also double up as valuable generative art collectible with accelerating value. So you see, all through we have kept our mandate of making everybody on Nitro Network win!
Q: For those who aren’t familiar with Nitro Network, what is your project and can you explain what your project will accomplish in the crypto space?
A:
Nitro Network has a simple yet powerful vision – to create a IoT- Defi hyperconnected world by building the largest private communication network where everybody on it can earn and grow. We are building something amazing and have a suite of initiatives – Digital Mining, N-F-M (Non Fungible miners, a step up from NFTs),. The larger agency is smart cities, Industry 4.0 enabled world where everybody wins!
Q: Why is Nitro Network so innovative? What makes them different from other crypto mining companies in the space?
A: We came up with the idea of Digital Mining. Where people can host / mine on the nitro network and earn effortlessly from their location. We removed the physical barriers to mining and replaced it with what we call an NFM – Non-Fungible miner – that unlocks mining rewards AND is a generative art collectible. So win-win!
We introduced the concept of Nesting – where people can host the network from their location enabled by the NItro platform. Our nesting platform is live and we see many nesters onboarding!
Nitro is always about the community. If you check out our staking, swapping and genesis node initiatives you’ll know how we reimagine everything to give the community the best there is!
Q: What is the ultimate value prop for Nitro Network?
A: A hyperconnected world of private networks where everybody wins!
Q: What are some of the most exciting updates happening in the near future?
Lots actually.
Our marketplace will be launched this month (March)
Our Tier 1 NFMs are already sold out and we are opening up the TIer 2 & Tier 2 NFMs. People are beginning to buy into the idea of a NFM way of mining rewards. Plus, these NFMs are super art pieces, each with its own rarity and value so that’s an added bonus for people to buy!
Our partnership with Avalanche signals our next phase of the growth story. (add details)
We have a new and upgraded smart contract deployment on Avalanche L1. It means a whole lot of advantages to Nitro fans
Our swapping portal will be live today. So people can swap their old NCash tokens for new ones
Our staking program continues to power on. NCash holders can continue to stake and convert to the new AVAX token at the end of the staking program
Like I said, there’s lot happening
Block 3
Q: You mentioned the Avalanche ecosystem. Why did you all ultimately decide to migrate over to Avalanche?
A: It’s again all about ensuring the community gets the best of what’s out there. Avax smart contracts are on and they come with a host of advantages such as high TPS, faster finality, and AVAL safety threshold among others.
Q: We have heard a lot of noise about NFMs, what are these and what are the values of these?
A: Glad you brought that up
NFM or Non Fungible Miners are an integral part of our concept of Digital Mining.
You see, we figured out an innovative way for Nitro miners to earn effortlessly on the NItro ecosystem. The NFM represents a physical miner. The nest part is, people can buy these NFMs from our marketplace and start mining without all the physical barriers and usual mining pitfalls. Also, these NFMs are collectibles – we have 3 TIers of NFMs Iconic, Premium, Top and all of them come with rarity and value so as pieces of valuable art they are worth buy and holding on to!
We believe we are enabling everybody on the Nitro network an opportunity to earn, grow and win!
Q: What are some of the biggest challenges you believe Nitro Network will overcome in the months ahead?
A: I see opportunities ahead, I would say we have overcome the challenges while implementing our vision and building it step by step. We are always ready to take on new challenges in the future as they come but at the moment we are working on very futuristic things which we believe have massive scope to scale. Just to put that in perspective – 5G is going to be a 2 trillion dollar industry and we want to be the fore front players in the space.
Q: What is some information you can tell us about Nitro Network that most people are not privy to?
A: We are building our products in 3 phase • LoRaWAN networks are just the beginning for Nitro.
We have massive plans in place for where Nitro is supposed to go – we already started working on developing 5G technologies.
We have a very unique approach to building a micro real estate marketplace which we have planned for the next phase of growth opening up plenty of opportunities.
We have some of the biggest names partnering with us and we will be announcing starting this week!
Q: Do you have a Token Burning plan to increase Token value and attract Investors to invest?
A: Absolutely – we follow a burn and mint equilibrium token economic model. We are going to be creating the network, drive partnerships, bring revenue and buy NCash off the market with the revenue and burn it off! That would create a lot of sustainable long term value for the holders and build the community. Hope that answers your questions.
Q: Is your project a community only for English speaking an countries or for users not of other languages?
A: We have many languages being welcomed on our discord servers! Please join in
Q: What are the strongest benefits of your project that you think will lead your team to a better market?
A: Our concept of Digital Mining through N-F-M is unique and is an liquid asset which will drive value for the community by giving rewards per epoch. Nests on the other side are locations who will be hosting the miners and creating a uniform coverage. Effortless earning all the way!
Q: Some project coins have their main Utilities & real-life usecase! So, Can you tell us what are the main role of your coin in your ecosystem? Explain it’s Utilities & Real-Life usecases? and Why should i invest in Nitro HQ for long term?
A: We are building and pioneering IoT networks – smart cities, industry 4.0 etc, autonomous cars. We are building the networks for the future
Q: Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?
A: Ambassador project is ON! You should come join our discord channel and you can find the details. Thanks!
Q: Do you have AUDIT certificates?
A: Our smart contracts are audited by HACKEN.
Q: Is This Your project only for elite investors, how about others with small funds, is it open to everyone?
A: Nitro network is for the community where everyone can own, operate and earn from the ecosystem!
Q: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
A:We have some massive partnerships being announced starting this week! So stay tuned and follow our social channels to get all the updates!
Q: Can you address recent elephant in the room about binance delisting NCash
A: YES! Glad you asked. Binance’s announcement of delisting NCash, has not stopped and will not stop us going ahead with our plans! We are going through a smart contract update from an erc 20 token to an AVAX native token, which was not accommodated by binance at the moment. We are not affected our plans in any way and are committed to the project a 100%. We have an amazing team and with the upcoming partnership announcements we are confident to be a real rival of the top projects!
We have a lot of new exchange listings and DEX’s coming up to create liquidity for the new token.
ICOSpeaks hosted an AMA Session with the Nitro Network Team. That’s all for today.
Thanks to all users who participated.
Thanks, Nitro Network for being with us
Thanks, all and see you soon😉
Cheers 🥂
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