AMA Recap: CRYPTO MINERS X AFOMA
AFOMA is a technology driven organization that leverages a utility token designed and built to drive social impact through an ecosystem that promotes marginalized artists and artisans across the globe. AFOMA fuels a community driven decentralized marketplace for artisan products and collectibles providing a frictionless and trustful experience through rewards, decentralized marketing , smart contract driven business processes and a strong commitment to give back to the community.
We hosted an AMA session with AFOMA on2nd April.
Mr. Ramsy was the host from Crypto Miners and Mr. Baiju and Mr. Mr. Eric was the guests. They shared delightful knowledge and unique features of AFOMA.
Segment 1️⃣: Introduction
Hello everyone 👋 and welcome to the Crypto Miners AMA session With AFOMA
Thank you all for joining us today❣️
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr Eric and Mr Baiju
Hello Everyone! Thanks for having us
Hey guys 👋
Thanks for bringing Us AFOMA ❤️
I’m pretty sure that our Community is very much excited to learn more about AFOMA ✌️
So let’s get started if you guys are ready!!!
We are ready
First of all Please give us a brief explanation about ‘AFOMA’ .What popped up in your mind to create such a platform in this Space?
Afoma enables community of Artisans and Artists through unique combination of rewards, nft marketplace and metaverse
Sure. So Afoma is a social enterprise that is technology driven. We are leveraging a community based utility based token. And yes, I am using both terminologies because we are more we want to be a community based project and we are a community based project. But our token has and that is why we are a utility token. And we are primarily designed or we’ve built our utility token to drive social impact through an ecosystem that revolves around three pillars. Our purpose is primarily to support marginalized artists and artisans across the globe. As we’ve started seeing the impact of covid 19 across the globe, we definitely saw a tremendous impact when it came to the developing world. As businesses and commerce is now primarily moving online, we have now seen a trend where the developing world are severely impacted because they cannot scale beyond their local economy.
So what our former is designed to do is to truly come in to solve real world issues. And what we intend to do is promote these modularized artisans and artists across the globe, where we can offer them a platform where they can trade their product and at the same time where we reduce their barrier of entry and their barrier of operations so that they can earn a decent living. That is what the true purpose of afoma is. So Afoma is truly designed to promote artisans and artists through three pillars within our ecosystem, which is a multi vendor blockchain integrated ecommerce marketplace for the handicraft. We’re going to be leveraging an NFt marketplace, which will truly, truly be designed to promote or preserve culture for the developing world.
And we will also be building our Metaverse, our meta verse world called Afoma Land, that will also primarily promote artists and artisans any of our social impact initiatives that we are looking that align with our vision. We came about afoma primarily based on the lack of appreciation that we see for the developing world when it comes to artisans and artists. So our purpose is truly to solve real world issues and in supporting these artisans and artists and also working with them to alleviate poverty within these same communities that we will be engaging with. So we will definitely be sharing some more insight into what our project is all about. But this is primarily what a former is.
Afoma is a word from the Ebol language in Nigeria. That means goodwill, and that is what we are looking at bringing to the world Afar the goodwill token.
Thanks guys for this dedicated start 👍
Now let’s see our second question from this segment
Q2) So what are your main features and advantages that discern you from other Projects?
We have many features common to other projects, eg: participate and earn rewards similar to P2E, NFT Marketplace and Metaverse. What sets us apart is how we apply it for a larger community and create social impact while rewarding token holders.
Our team is highly experienced with strong expertise not only in technology but also commerce and operation. You can vet all of them in our website.
I’ll add to what Baiju pointed out
What truly sets us apart is in the application of our project towards solving real world issue. For example:
Our project is designed to allow artisans and artists across the globe that lack access to finance and platform to truly afford to start their business online. Our ecosystem allows for the use of crypto as an option of payment and settlement.
Our project allows for the preservation of culture whether in the form of physical products sold in our marketplace or in the form of NFTs.
Our project will provide accessibility to the developing world by projecting our marketplaces in our metaverse world through the use of mobile devices.
Now moving on…
Q3) How has the experience and background of your team been effective in the success of your project so far?
Our team has a good balance of experienced and young professionals and is 20 member strong
It is fully doxxed
So our team is comprised of experts in India, various forms. So if you look at the composition of our ecosystem, it revolves around, e-commerce, blockchain cryptocurrency and other aspects of whether around finance and business, and sales. So our team is definitely tapped across different expertise within the professional space. So we have people who have built e-commerce platform. The exited e-commerce platforms. We are working with people who are currently listing managers within exchanges in the crypto space. We are leveraging with experts advisors who are knowledgeable, who are respected in the blockchain within the blockchain community. So we are specific in the exact skill that I bring it in towards the success of this project. And each of these skills are truly effective towards what we are trying to achieve. This project has is less than a year old. And the Milestones that we’ve achieved so far, truly shows that we have the right skill. We have already successfully demonstrated. Literally phase, one of our marketplace and that truly shows that we are making strides and we are successfully delivering in what were designed to do. And we’ve got about as far as you pointed out, 20 strong people within the professional fields, which everyone can met within LinkedIn today. So if you go on our website you can truly see everyone that’s currently taking part with this project. So we have tremendously made strides based on our what we delivered so far within within our project.
4) Now Share us about your Native token, What are the some of utlities of $OMA in Your Ecosystem? And if possible share to us the Tokenomics
$OMA is a fixed supply token with 1B tokens
It is used for rewards incentives and referrals within our marketplaces and partner programs
It gives early access to NFTs
And unlocks many features in our metaverse
Additionally there will be Staking and LP rewards for those planning to hold tokens long term
Additionally tokenholders will also be part of the governance. This is part of our community focus
Artisans, artists and their supporters are part of our community which makes our community potential really large and global
Let’s move to our last question from this segment
Q5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from AFOMA If possible could you please share road map with us.
Forgot To add on tokenomics, our initial market cap is projected at just below 1M with fully diluted at 10M which keeps us in the category of low market cap. Our programs have significant upside potential to drive the demand of our tokens. You will get a full account in our channels
We are currently almost a year old with our First marketplace for Artisans SELLITIC already in Beta which you can visit
We are taking established components of crypto to sustainable real world model which experts predict as the next wave of crypto.
Unlocking functionalities around communities and causes in a decentralized manner
This is a project that we’ve been working on for less than a year now. For about 7 to 8months.
The future for AFOMA is very bright. We are excited about what we are building and how we can use our ecosystem to improve lives and promote artisans and artists across the globe. The potential we have to offer is unlimited. Through our partners and community, we can unlock a lot of opportunities for artisans and artists. Imagine today, what’s truly happening in the world where we have millions displayed by war and poverty, this is where we can step in. By taking a fraction of these people who possess handicraft skills, we can onboard them and enable them without hang significant cost to them to start a business. This is the future we see for AFOMA.
We are looking at launch the 2nd phase of our Beta Platform for SELLITIC, our multi-vendor handicraft marketplace in April (if all goes well), and then we fully launch by 4th quarter of this year.
ORUVAN, our NFT marketplace will be looking at launching in 4th quarter of this year also.
AFOMALAND, our metaverse world will have its prototype launched around 2nd quarter of 2023.
You can view our handicraft marketplace by visiting our website www.sellitic.com. As we move on to Phase 2, we have disabled all functions for now. So it’s in Demo mode.
In a few weeks, we will be releasing more video commercials that expands on our vision and ecosystem.
Please don’t forget to join our community to get opportunities to win rewards through Airdrops.
Thanks guys for this well detailed introduction about AFOMA:)
And that’s the wrap up of our the first part of the AMA session ✅
Let’s now proceed to our Twitter Questions section
i hope you guys are ready for that!!
So let’s hear our first question from twitter
Segment 2️⃣: Twitter Questions
1) The AFOMA Ecosystem will consist of three components: SELLITIC, ORUVAN, and AFOMALAND. It interests me that SELLITIC and ORUVAN are both marketplaces which rises confusion to me. Can you tell us what is the main difference between these two marketplace in AFOMA?
Sellitic is a real world marketplace where OMA drives rewards and incentives
ORUVAN is an NFT market place for collectible art and music focused on artisans and artists
In the future we will also tie these up where you can buy an NFT in ORUVAN and redeem the physical art if it exists from SELLITIC
They are kept separate because of the nature of operations
2) I see that AFOMA has a series “AFOMAlearn”, can you explain to us about this series and how it works? What benefits do users get with “AFOMAlearn”?
We are trying to reach beyond existing crypto community as you can see from our programs
Education is key and Afomalearn is part of it
We are also partnering with crypto educators like TECHONOMYAFRICA where you can earn $OMA rewards by taking lessons.There is a registration of 16k students for those programs
3)Thinking about the security of Afoma, what security protocols do you offer to be a reliable and secure platform? Have your codes already passed audits?
We follow strict guidelines on security. It includes fully audited smart contracts multi sig wallets for funds , liquidity locks and transparency in fund movement for token holders
4) Partnerships really have a big role here, so may we know about your relationship with others? Are you currently on the talk for some businesses & projects to get them involved with #Afoma? Are there any huge collaborations coming on the way?
We mentioned about TECHONOMY which is one of them. We have community partnerships and Tech partnerships. Each of the partners being selected are reputed in their field. You will be seeing press releases on closure of each partnerships. Follow us to keep upto date
We also have operational partnership contracts when it comes to ecommerce with the likes of DHL etc
5) What will be the unique opportunities that AFOMA will offer to artists and artisans around the world, it is known that there is competition in the market, then, why would you describe AFOMA as the best option among all, what are those benefits that only you will provide?
Here is our last question from twitter
A lot of opportunities. If you are an Artisan you can list your products at minimum cost.
If you are an artist struggling to get into NFT we partner you with digital experts to get you there so that you are not left behind
If you are just a fan of arts or handicrafts we provide you access to it and an immersive experience
What is unique is the decentralized model which brings together a lot of elements which currently is not existing
And it is the future of commerce
Ubers and AirBnBs were just the beginning. Now we have tech to make it happen in more decentralized way
Crypto has matured enough to take on some of these areas
Since starting with crypto back in 2017, I am fully confident that the time is now.
We have everything in place to do more than meme coins
And everyone should benefit being part of it.
In addition, when we look at the business models of other platforms especially on the e-commerce space you can see that their model is designed to be very profit driven.
Small and Medium sized businesses can not build a scalable business on their platform.
The barrier of entry is very high and the cost of operations especially as they leverage legacy technology will make their revenue diminished.
In addition, other platforms don’t recognize the skills and abilities of artisans and artists. Our purpose is to incentive leveraging our utility token which will also add a supplemental income for them
When you look at the likes of ETSY and others, their model is to make money on the backs of artisans. A small scale artisan in Nigeria or India can’t afford to list in these platforms.
So this is how we set ourselves apart from the rest
We will be looking at different ways across our ecosystem to make sure we are more artisan and artists centric. That’s how we intend to build our community through them and our token holders.
If we don’t remain focused on artisans and artists across our ecosystem and focus on remaining socially impacting, we lose our purpose and values. AFOMA allows us to do this and we cannot achieve this vision with legacy technologies that we see today.
AFOMA will empower. That’s it’s true purpose of the purpose of technologies like this.
As long as our token holders and communities contribute, they benefit. Everyone wins within our ecosystem. So it is truly decentralized.
In regards to partnerships, I want to add to this
As Baiju pointed out, we are looking at key partnerships that will enable our vision. We are not in the business of adopting partnerships that will not benefit us or our community.
We are in final talks with DHL now. Which will allow us scale across sub-Saharan Africa and eventually across other developing regions. Why are we doing this?
This is purely because we see a trend in poorer countries where artisans and artists are demanded to make upfront costs for shipping. We will eliminate that. We want to reduce their operational costs to an are minimal
In additions, why did we go with Techonomy Africa? Again, this is because we know the adoption of these technologies are still at a low scale. Doesn’t it make sense we partner with organizations where artisans and artists who are not knowledgeable of these technologies can learn and truly benefit from its potential?
So you see, everything we do is focused on artisans and artists. We are passionate about this and we believe in the end, it will be beneficial to our community (tokenholders) as well. These are people that are their neighbours, friends and families.
And in so doing promote the value of token through these initiatives and model
Thanks guys for Your Valuable Answers❣️
And that’s the end of our twitter question segment
Thank you for having us. Please don’t forget to be a part of our community on Twitter and Telegram
Now Moving on to our last segment — Live Q&A
Shall We Go guys?
Yes. It will be a pleasure
Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guest choose some best to answer)
𝗱𝗼 𝘆𝗼𝘂 𝗵𝗮𝘃𝗲 𝗮 𝗿𝗲𝗳𝗲𝗿𝗿𝗮𝗹 𝗽𝗿𝗼𝗴𝗿𝗮𝗺 𝗼𝗿 𝘁𝗼 𝗮𝘁𝘁𝗿𝗮𝗰𝘁 𝗺𝗼𝗿𝗲 𝘂𝘀𝗲𝗿𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗰𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 ??
So AFOMA rewards on the SELLITIC platform will incentive our community that offer referrals. For example, if you are a SELLITIC customer and obviously a token holder, and you refer someone who buys a product on the SELLITIC platform and becomes a token holder through that purchase, you will be incentivized for that referral.
Details will be made available eventually through our social media channels.
Is your project only for elite investors, what about others with small funds, is it open to everyone?
Our vision is to be a truly decentralized community project. Everyone will have access to our token. Maximizing the number of holders is key for our token value. We will have a public sale of our token. In addition our program rewards are open to everyone. For eg: if you buy something from SELLITIC you will get cashback in tokens. If you participate in partner program you can earn tokens. As we build out our metaverse you can also earn tokens if you contribute through our open source programs
3) Ama 1:
Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
This is a great question.
1. From our projections based on the demand and supply mechanics of the AFOMA token, we see a potential of our token value going up. We do understand the risks with crypto based on their volatility, but the pillars within our ecosystem will definitely drive the demand of our tokens compared to its limited supply. So the potential is there baed on its utility. So our investors can use as a store of value.
2. We will have features that exists across our ecosystem that will give early access to our tokenholders/investors. So holding our token will provide the benefits of being a long term holder. Our ecosystem will factor in the benefits to our tokenholders.
3. We will offer staking and liquidity pool rewards programs that will also create APY for our tokenholders too. And we will work and consult with AMMs to ensure that the benefits are truly rewarding.
Thanks for asking this question.
4) Shihad K:
Marketing is a central element for every project. so that everyone knows the potential that a project, can bring is vital to achieve the goals set. What is your strategy to attract new users and Investor, to your project and keep them long term?
Regarding marketing of our token itself we are investing in community outreach PR and Events which is funded by successful pre seed round.
Regarding marketing of our programs we are leveraging the power of crypto to incentivise along with traditional marketing spend. We slso have a highly experienced team of marketing professionals guiding us in our team. Kindly check website for details
5) Ha Quang:
What makes you feel confident about the survival & sustainable success of the project in the near future? While you build your project, do you take into account community feedback and demands?
We continue to monitor and nurture our program. We could bring together a great team passionate in our vision. Our fund raising is on track. We are getting great feedback for our vision and continuing to improve. Our project plan is on track. We expect to continue building our community and continuously create value of our tokens as we achieve our milestones in our plan
*This segment ends here*
Thank You all for a great session. You have a great community. Keep the flag of crypto flying high. We haven’t even witnessed 5% of the benefits it can bring. We look forward to your kind support.
Guys, I truly wished I could answer all questions as we’ve seen a lot of great questions. But I have picked two that I wanted to address. I will let @baijac pick the remaining.
Thank you all.
You can reach me on Twitter or Telegram using the handle @eosuorah if you need any of your questions answered.
I would love to hear from you. And also have some ideas we could bring towards our project. Thank you
Thankyou so much guys For your valuable answers and information about AFOMA,
It Was Pleasure Hosting An Ama With You guys
Time To Conclude Our AMA Session
We Wish all the very best for Project
AFOMA And The Entire team behind the project ❤️🤝
Thank you for your support. If you have an artisan or artist in your community who needs support think AFOMA. We are determined to bring them to the world of Web3 of course powered by crypto
Community, if you would like to learn more about AFOMA, here are some useful links for you: