AMA Recap: CRYPTO MINERS X FAYRE

Fayre provides a comprehensive suite of tools for brands to participate and engage with their current and future audiences in real life and across the Metaverse. It is a gateway to web3, a multichain NFT marketplace, Metaverse commerce and companion app. All these modules are wrapped in a friendly UX that hides the underlying complexity of smart contracts.

We hosted an AMA session with FAYRE on 22nd December at 11:00 AM UTC.

Mr. Ramsy was the host from Crypto Miners and Mr. Luis was our guest. He shared delightful knowledge and unique features of FAYRE.

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Segment 1️⃣: Introduction

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Ramsy:
Hello everyone 👋 and welcome to the Crypto Miners AMA session With FYRE

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. Luis , Welcome to our community 🤝

Luis:
Thanks for having me

Ramsy:
Hello there 👋

Wolcome here
Thanks for bringing Us FYRE ❤️

Luis:
Great to be here.

And great security in the group... I noticed it would be difficult for a bot to join, so glad to be in a group with real people

Ramsy:
I'm pretty sure that our AMA participants are very much excited to learn more about FYRE, so let's get started if you're ready!!

Luis:
All ready to go

Ramsy:
So here's our first question from this segment....

Q1) Can you give a brief explanation about 'FYRE' .What popped up in your mind to create such a platform in this Space?

Luis:
I’m a marketing professional with a bachelors in advertising and masters in brand management.

I use to help brands get onto web2 (social and mobile). An I’ve been in crypto since 2012.

Here’s a tweet from 2014, where had worked with the Chancellor of the UK make a bitcoin ATM withdraw. You can see me in the back.

https://twitter.com/innfin/status/496936705820467201

So I’m a marketing OG and Crypto OG and fayre is made for brands to enter web3.

Fayre mixes 2 things in my professional life into a unique product.

While heading up marketing at Boson Protocol, I got really into NFTs an alternative use cases and saw that brands will be coming on board in mass very soon

as soon as I completed my contract, I set up Fayre and got moving to create something that was missing

A place for brands to manage NFT communities like they do social media

So Fayre was born out of all the work I've been doing for the past 15 years

Ramsy:
Thanks Luic For this great 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?

Luis:
We have lots of features in Fayre, A marketplace, a brand dashboard, a companion app and even some metaverses coming into the mix.

The marketplace is has 1% transaction fees (lower than most)

We also have a Fayrecard Membership NFT that can reduce transaction fees further to zero

We can’t do much about gas fees on ETH, but we will add other lower gas chains

The brand dashboard is also unique

It allows brand and IP owners to manage NFT drops like the would manage communities

It works with existing drops like apes or punks

but also for new brand drops

This makes it easier to manage NFT fan clubs or create decentralised loyalty programs

And it gives the brands the ability to add utlity to NFTs in a much easier way

The companion app takes things a bit further

It allows the NFTs to work in retail or stadiums or anywhere in the real world

Users can have their NFTs in a wallet and QR Code or FRID in a store and earn points for activity or unlock NFTs in the real world

Users can even "spend" nft vouchers by using RFID

Lots of useful ways to make NFTs more useful

spendable NFTs on their own are a big deal

Lastly we are planning a few metaverse projects in 2022

A spanish language metaverse and portugues language metavers

+ a Metaverse Dao called 0.land

So lots of things in our ecosystem roadmap

Ramsy:
Q3) How has the experience and background of your team been effective in the success of your project so far?

Luis:
I mentioned earlier about my marketing and crypto background. That has been very helpful in this project

Our CMO fernando has 20 years of dev experience and 7 in crypto

We're both from Latin America and see the rapid adoption of crypto and the lack of large companies catering to the space

so LATAM is an area we wanted to pay special attention to.

We're putting all of our experience in marketing, branding and even life experience in Latin America into the project

Its a very personal project and there are lots of motivating factors beyond just business success

Ramsy:
Wow, great experience team 👏👏

4) Now Share us about your Native token, What are the some of utlities of $FYRE Token in Your Ecosystem? And if possible share to us the Tokenomics

Luis:
$FAYRE token has several uses

If you hold Fayre, you can reduce transactions fees to zero on the marketplace

We will introduce staking and governance in 2022

On the community side, we're exploring the mechanics of allowing users to earn fayre by being active in brand pages

Social-to-Earn

So users will be able to earn small amounts of fayre by liking, commenting, sharing etc...

Fayre holders will also get first dibs on drops and project access

when we launch the metaverse real estate in 2022, $fayre holders will get first access

and $fayre will be the currency of these metaverses

So it’s baked into the ecosystem

The tokenomics favour long term

My vesting is 36 months after a 6 month cliff

so vesting is longer than other projects

Ramsy:
5) So how long did it take to develop this project? What plans do you have for the future? And what can we expect from Fyre? If possible could you please share road map with us.

Here's our last question from this segment

Luis:
We've been working since May and the soft launch of the marketplace will be in a few days.

Mainly ETH with traditional features

Other chains and features will follow

The brand dashboard should be ready before the end of Jan

And early metaverse elements are in planning stage

We've already signed our first major brand contract with a Spanish La Liga Team, so announcement coming soon

We’re in talks with several sports francises, Celebs and brands so lots of news on that in the coming months

We see ourselves more as a pop culture brand so plan to have 1 new drop per week of a recognised brand, celeb or known entity

We have a lot of work to do still, but moving at a good rate

Ramsy:
Thanks for this well detailed introduction about FYRE:)

And that's the wrap up of our the first part of the AMA session ✅

Luis:
🤟

Ramsy:
Let’s now proceed to our Twitter Questions section

i hope you're ready for that!!

Luis:
ready

Segment 2️⃣: Twitter Questions

Ramsy:
1)I like that Fayre promises to make it easier for brands to take better advantage of NFTs and for fans to acquire them, could you tell us how you plan to achieve this goal and thus attract more users to Fayre?

Luis:
Wer'e working with brands on a strategy that allows them to drop high volume NFTs for free or low costs

This allows the brands to build a community that they can add value to

The lower price point means that more people can enter the nft space

Brands get more fans, we get more users

We help brands activate the fans with our app and other tech

so its a win win all around

Ramsy:
2)What are the risk management policies that project uses to safeguard the investments and credits granted by its platform? How do you really ensure that there is a backup base to rely on in the face of any situation or sudden change in the commercial markets?

Luis:
Most of the transactions and credits will be on chain

so we'll ensure we audit our contracts with companies like Cetek and share the results of the security audit

We'll also have tutorials to help new users navigate the world of NFTs

Our files are stored on IPFS so they are also on chain.

We can't change things like crypto markets crashing or new trends in NFTs, but we can secure all the contracts and content on our network

Ramsy:
3) Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnership??

Luis:
I mentioned a bit about this earlier.

One of our first brand collab is with ALLKING VEGAN shoes

we're scanning thier shoe selection and making digital twins of their products for the metaverse

Users who buy the shoes can rfid scan the little ice cream on the shoe and unlock the NFT version

We can also start the sale in a metaverse store. A user can buy the shoe in the metaverse. and connect to the shopify or magento inventory and purchase the real shoe

So this is an example of what we can do

We're working on activating NFTs inside a stadium for a football match

Holders of the NFT can earn rewards or benefits by being at the match with their NFTs

so we have lots of partnerships in the pipeline and plan on releasing more announcements as they happen

Lots of cool things planned. Partners are at the heart of our launch plans

Ramsy:
4)As we know, So many NFT Marketplace & platform projects at this moment.Could you give me 2 or 3 key points to convince me and other angel investors invest in FayreLads project for the long-term ?

Luis:
1. We're giving NFTs new utility with the brand dashboard, which allows brands to add value and manage utility easier

2. Our App allows NFTs to be used in retail, festival or stadiums. This makes them easy to use as vouchers, or tickets

3. Our platform can be used for decentralised loyalty programs and there's a lot possible when web3 meets loyalty

Ramsy:
Let's hear our last question from twitter...

5)Not all NFTs offered in the marketplace are valuable, so how does Fayre ensure that the NFTs produced, published and traded on its platform are valuable & successful? What strategies will be used to make it competitive in this market?

Luis:
We're whitelisting projects and creators before they can mint on Fayre

So you have to be approved in order to create NFTs

We can't ensure that all NFTs will have value, but we can add a quality check which is what we're doing

Even brands need to apply before they can mint so there's a curation element build into Fayre

Ramsy:
Thanks Luis for Your Valuable Answers❣
And that's the end of our twitter question segment

Now Moving on to our last segment - Live Q&A

Shall we go?

Luis:
lets go

Ramsy:
Here we go,

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)

1)How can I buy tokens from your project? Will you have a program to sell tokens to users in the near future?

Luis:
To get tokens you need to whitelist for public sale at fayre.com and we’ll announce full details soon

2) Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?

Luis:
Yes, voting will be part of token

3) Will your team capable to do the great things about Fayre?

Luis:
We’re a real team on LinkedIn and you can see our backgroud

*This segment ends here*

Ramsy:
Thankyou so much For your valuable answers and information about FYRE,
It Was Pleasure Hosting An Ama With You

Is there anything else you would like to share or you want us to know ?

Luis:
Just please follow us on telegram

https://t.me/Fayre

And linkedin

We'd love your support in spreading the word

That is all

Thank you for having us

Ramsy:
Time To Conclude Our AMA Section
Best of luck for the future 🚀🚀

Community, if you would like to learn more about FYRE, here are some useful links for you:

Website: https://www.fayre.com/

Twitter: https://twitter.com/FayreLabs

Telagram: https://t.me/Fayre

Channel: https://t.me/FayreAnnouncements

LinkedIn: https://www.linkedin.com/company/fayre/