AMA Recap: CRYPTO MINERS X NFTMALL
NFTmall is a next generation, decentralized NFT marketplace for creators/artists and collectors. We are harnessing the potential of DeFi and eCommerce to redefine NFT sharing, creation and ownership. It is designed to empower young talents and allow leading artists and creators bring their dreams to life.
NFTmall Is Where NFT Meets DeFi & eCommerce.
The First Creator-Centric, DeFi-Powered & Physically-Redeemable NFT Marketplace.
We hosted an AMA session with NFTMall on 8th November at 2:00 PM UTC.
Mr. Ramsy was the host from Crypto Miners and Mr. Rakib, CEO of NFTMall was our guest. He shared delightful knowledge and unique features of NFTMall.
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Segment 1️⃣: Introduction
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Ramsy:
Hello everyone 👋 and welcome to the Crypto Miners AMA session with NFTmall
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. Rakib, Welcome to our community 🤝
Rakib:
hello everyone :)
Ramsy:
Glad to see you here ,
Thanks for bringing Us NFTmall❣
I’m pretty sure that our AMA participants are very much excited to learn more about NFTmall, so let’s get started if you’re ready!
Rakib:
Surely, let me first introduce myself, Hello everyone, glad to be here and I would like to introduce myself, my name is MD Rakib Ahamed, CEO & Founder of NFTmall, I am a PGD in International Business Administration, from Anglia Ruskin University, Cambridge. I have experience in Economics, Business Administration & Management, and passionate about blockchain research and development. I am also a Blockchain & Cryptography enthusiast and a dedicated supporter, I have been an Advisor, Marketing Director and investor previously for Blockchain based projects and my passion for Blockchain & Technology along with my Business expertise motivates me come up with a Crypto start-up call NFTmall
Ramsy:
Now shall we begin our question section?
Rakib:
yes please
Ramsy:
Q1) Can you give a brief explanation about 'NFTMall' .What popped up in your mind to create such a platform in this space?
Rakib:
Company History / Background:
The initial concept and idea of NFTmall have developed some time ago in Mid 2020, as I have been a crypto investor and researcher and was researching existing NFTmarketplaces and their limitations. I came to realise that monopolies and international entities were taking advantage of creators/Artists for many years by creating a huge barrier of entry! For example, traditionally, Artists have to physically produce a piece of artwork, get it accepted by a gallery,promote the exhibition and sell it. Also, in the case of a verification test, the authenticity of an Art is determined by an Art expert panel by carrying out costly tests! This complex process involves a considerable barrier of entry and hinders creativity; as a result, creators often don’t get enough exposure and have to market their work instead of focusing on creation.
The traditional approach hinders creators, but it also hinders creativity in general since younger artists may not afford the entry requirement to use the various platforms. This problem can be overcome using blockchain technology to synergise Defi and NFTs since It simplifies ART creation in NFTs and logs entry of an ART piece/ NFT in the blockchain, which cant be counterfeit and rewards relatively. It affords artists or creators alike the chance to create and earn royalties in perpetuity. And thus create a level playing field for talented individuals. Since it’s a very new concept and the market for digital items starts to generate. Existing top tier digital items / NFT marketplaces do not fully satisfy the needs of their users. They do not solve the issue by having high platform fees to mint or list, Primary and secondary sells, even royalty fees for creators are not independent usually chosen by Marketplace! Also, most of them are not decentralised and require a KYC process, application, and permission. More importantly, none of them offers or Provides a solution to the Physical redemption of NFTs or Vice versa! Thus, they act as a monopoly for users and possess a high barrier of entry and fail to create a fair & level playing field for their users (creators, collectors and traders).
“ By deeply considering the limitations of existing marketplaces, I was stirring at the market gap and had to pick up the challenge to provide a solution which I called NFTmall.”“NFTmall is the answer to the existing limitations of the Traditional Art gallery and NFT marketplaces. It is the world first Creator centric, Defi & E-commerce powered, Multi-chain & standard support, Physically redeemable NFT marketplace.”
Ramsy:
Alright, So Let's deal our second one...
Q2) So what are your main features and advantages that discern you from other projects? and Also Share a Overview About Your Marketplace ?
Rakib:
Description: www.nftmall.io
NFTmall OÜ
Reg: 16261145
Address: Tornimäe Tallinn, Estonia.What is NFTmall (GEM)?
NFTmall - is the World's first Creator centric, Defi & eCommerce powered, Multichain & Standard support Physically redeemable NFTmarketplace.
At the NFTmall, we are creating a Universal ground for various talented artists who can showcase their talent and thus also bridging the gap between Mainstream and niche digital artists. To do so, we offer to our users a super sleek, super easy user interface, state of the art, decentralised, creator centric, cost-efficient, Defi & E-commerce powered, Multi chain & standard support, Universal marketplace. Our marketplace also includes time demanding features like Physically redeemable NFT and futuristic features like NFTmall 3D. We deeply considered different parameters, barriers of entry and limitations of the current Centralised and Decentralised NFT Marketplaces and came up with the solution “ NFTmall.”
Is NFTmall live yet?
Since NFTmall is working on a vast concept to revolutionise NFT Metaverse, NFTMall is constantly updated with new features and different opportunities. Currently, on 29th July 2021, we launched our Mainnet on BSC, and As Multichain interoperable NFTmarketplace, soon other chains to be added.
Currently, NFTmalls AR & Physical NFT verification mobile App on TestFlight both App & Play store.What's GEM Tokenomics?
- Token Info
Symbol: GEM
Max Supply: 20 million (deflationary, 10% of the platform is used to buyback and burn)
- Token Distribution
5%: Private Sale
15%: Public Sale
5%: Exchange Liquidity
2%: Liquidity Mining
30%: Marketplace Mining
15%: Marketing & Educational Program
5%: Technical Bounty & Hackathon
5%: Strategic Partnerships
8%: Team & Advisors
10%: Foundational ReserveInvestor Pitch Deck:
https://nftmall.docsend.com/view/hv7mx4savkksnqb7White Paper:
https://nftmall.docsend.com/view/aqitrk9vsfhbahe8Feature comparison with leading NFT marketplaces:
https://www.notion.so/nftmall/NFTmall-vs-Leading-NFT-Marketplaces-dd20600dfe924c40b5f220bfed7969c2Audit from CertiK:
https://www.certik.org/projects/nftmallGEM 💎 Contract
https://bscscan.com/token/0xBaC1df744df160877cDc45E13d0394c06bC388Ff
Ramsy:
Q3) How has the experience and background of your team been effective in the success of your project so far?
Rakib:
Teams are important because they can accomplish much more than any of the members could achieve individually. The team that functions effectively and efficiently brings together a diverse range of characters, skills, and talents, and is able to realise large, complex projects
I understand the power of team and teamwork, and continuously working on building an efficient, hardworking, talented, passionate team, Team NFTmall.
So far, Team NFTmall consists of 14 different individuals including four core members including engineers and developers.
Our team member profiles and socials can be found on NFTmalls website: https://nftmall.io/team
I am also currently onboarding different individuals, developers, Advisors and Artists. And one of my most recent onboarding is Utkarsh Baviskar as Chief Marketing Officer.
Bio: Utkarsh has worked in the Blockchain industry for 3 years, gaining experience in Research, NFT, DEFI and Blockchain. As a seasoned Chief Marketing Officer, he is passionate about Leadership, Team Management and Achieving Goals. In addition to Blockchain, he is also involved in Organizing meetups with developers to exchange knowledge and build a community.
Ramsy:
👏👏
Q4)Now Share us about your token, What are the some of utlities of $GEM Token in Your Ecosystem? And if possible share to us the Tokenomics of $GEM
Rakib:
Our key advantages over the leading NFT marketplaces:1. Our marketplace has the lowest fee in the industry! Zero Platform fees to Min NFTs for Creator/Artists and only 2% lowest in the Market for Primary & Secondary sales and only 1% if GEM been used as currency to pay!
2. Platform fee-sharing & token burning
60% of the Platform fees is used to distribute to $GEM Stakers, 30% Goes to the Treasury for Project Development, Marketing expenses and other cost involved, 10% is used buyback $GEM and burn.3. We are creator-centric
We don’t charge fees from creators (who mainly mints NFTs)
Instead, we incentivize creators for minting activity through Marketplace Mining4. We are Multichain Marketplace and on BSC, so the gas fee is very cheap
The majority of creators can’t afford crazy gas fees on Ethereum5. Staking
GEM Stakers receive exclusive benefits like- Platform fee sharing
- Reward in other partnered Project Tokens, currently, $GEM - $BNB LP provider has the opportunity to Stake GEM-BNB LP on one of our many Partnered Farming Project platform and getting rewarded with their Project token. this farm works as Early Farm High APR basis, Stake GEM-BNB LP tokens, earn GEM 💎, BUFF, OLIVE, EROS, FLAT and many more to come! you take on a little more exposure to market fluctuations than with the GEM staking pools but can earn a much higher APR to offset the risk.
- $GEM Staker has the opportunity to choose to stake in different pools for a different specific periods of time and choice of Tokens to get rewarded with lucrative APR! Currently, GEM staker has the choice to get rewarded with either $GEM or $BLAST (one of our recent partnered project tokens), many more to be added soon. All Stakers will also receive BNB reward on top from our marketplace fee-sharing!
- Access to exclusive NFT drops
- Higher rank in the search results of our platform. via our Smart Sorting Engine
6. On our Marketplace NFTs can be Minted digitally and also can be redeemed into physical assets.This is a brand new concept in the market and we are the very first in space to provide these opportunities to every user and thus we are bringing mass Physical redemption of NFTs through our Marketplace! At present, NFTmarketplaces only offer Digital NFT and cant be redeemed Physically! On NFTmall Digital versions of NFTs can be Minted and Traded along with the opportunity to redeem it Physically on Canvases, frame canvases, Digital frames, clothing etc.
Physical redemption of NFT is going live very soon, currently, I am in touch with a massive supplier in the industry who has experience in ART Print industry for over 100 years and has facility all around the world and can ship all over the world, currently, I am in the process of receiving sample and test if everything is fine we are fixing them and mass NFT Physical redemption is going live quite soon.7. Community-based content curation
None of the existing marketplaces couldn't solve the issue of selling fake, stolen, copyright infringed artwork.
We solve this in an innovative way so all NFTs on our marketplace are authentic and unique.
Buyers can buy with confidence.8. Affiliate program
Anyone can monetise their social network by promoting our NFT for affiliate commission.
So creators can focus on content creation instead of marketing.9. Using GEM as payment currency
NFTmall marketplaces' primary currency is $GEM and others are also supported like BNB or ETH upon integration.
If the buyer pays in GEM instead of any other coin, there will be a discount on fees. from 2% to 1%
(similar concept of how BNB works in binance)
10. GEM based Homepage advertisement auction system.There will be different "Slots" on our homepage where nfts are featured.
We provide an auction system for users who want to promote their NFTs by paying GEM.
Winners of the weekly auction have the freedom to list one of their NFT in each slot.
Advertisement fees will be distributed to stakers, Buyback & burn GEM & sent to Treasury Fund that will be used for future development & expenses.$GEM Token Use Case & Utilities :
Marketplace Mining.
Liquidity Mining.
Stake GEM for Governance.
Stake GEM gets NFT Drop.
Stake GEM to rank higher on Smart Sorting Engine.
GEM is the currency that will be used in Auctioning of NFTs and for the Auction of advertisement slots at NFTmall.
GEM Native currency of NFTmall, also used for listing, Buy & sell of Digital items at NFTmall
Deflationary token model, automated Buyback & burn.
Ramsy:
Wow, Lot of Usecases 👌 GEM 💎
Rakib:
yes GEM token is Packed with utility and use cases and many more to be added in coming days.
Ramsy:
Let's hear 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 NFTMall? If possible could you please share road map with us.
Rakib:
We have constantly been building since Mid 2020 and current development is ongoing with even greater force.
Milestones Achieved:- we have successfully finished the presale rounds and listed on pancakeswap & LA token on 8th June later on Bilaxy exchange.
- We have successfully launched test net on BSC & Polygon network.
- We have gone to Main net LIVE recently on BSC and soon to be integrated on other chains like Avalanche, Polygon,ethereum etc.
- We have also successfully launched NFTmall mobile AR & Physical NFT verification app Testflight both on the app and play store.Update on
- NFTmall AR App
- Additional features have been added to NFTmalls AR App, including- Different NFT Frames.
- Different sizes to choose from.
- Digital frame which supports video format of NFTs for Physical redemption.
- Minor Bug fixed.
- https://youtu.be/7Y8AF3cJZGM- Recently we introduced NFTmallv2 the most recent Updated version of NFTmall marketplace with Beautiful great new design and fresh look. https://app.nftmall.io/
- Since our NFTmallv2 launch we have been constantly improving and enabling different features of the marketplace. Recently we have enabled the NFT Bidding feature.
- We have also launched the $GEM Staking & Yield farming platform powered by the Ferrum network. https://www.nftmall.io/stake
- Reward in other partnered Project Tokens, currently, $GEM - $BNB LP provider has the opportunity to Stake GEM-BNB LP on one of our many Partnered Farming Project platforms and getting rewarded with their Project token. This farm works as Early Farm High APR basis,Stake GEM-BNB LP tokens, Earn GEM 💎, BUFF, OLIVE, EROS, FLAT and many more to come! you take on a little more exposure to market fluctuations than with the GEM staking pools but can earn a much higher APR to offset the risk.
- We have also launched Staking pool across the platforms and currently $GEM stakers can also stake $GEM at https://www.blastoff.finance/farms and be rewarded in $BLASTUpcoming plans and updates:
- Since my vision includes Mass NFT Physical redemption, on NFTmall NFTs can be Minted digitally and also can be redeemed into physical assets. This is a brand new concept in the market and we are the very first in space to provide these opportunities to every user and thus we are bringing mass Physical redemption of NFTs through our Marketplace! At present, NFTmarketplaces only offer Digital NFT and cant be redeemed Physically! On NFTmall Digital versions of NFTs can be Minted and Traded along with the opportunity to redeem it Physically on Canvases, frame canvases, Digital frames, clothing etc.
- Physical redemption of NFT is going live very soon, currently, we are collaborating with a supplier in the ART industry who has experience in the ART Print industry for over 100 years and has facilities all around the world and can ship all over the world, we are done with the sample test and currently, sorting out the Paper works and integration process and mass NFT Physical redemption is going live quite soon.
- Currently, we are LIVE on BSC and are currently working on integrating with the Ethereum chain which is due to be finished very soon and other chains like Avalanche, Polygon, Sol etc. will follow in the coming days and months.
- We are also working on Partnerships to launch Farms and pools across the many other platforms and listing NFTs of different projects and launching NFTprojects on NFTmall.
- We also look forward to launching our very own IDO platform called NFTPAD by mid-November 2021 for NFT Projects launch, fundraising & incubation.
- We are also working on the Founder NFT ATM and will be launched quite soon.
https://nftmall.medium.com/introducing-nftmall-founder-nft-fd741735c5f7
- Our Midterm plan also includes offering fractional ownership of NFTs, Lending, Browning etc.
and NFTmall 3D is due early next year. A Decentraland inspired virtual marketplace for various types of dedicated 3D virtual stores like ART, gaming items, collectable card NFTs, audio NFTs, rare NFTs, physical NFTs, 3D NFT, etc.
Ramsy:
Thanks for that well detailed introduction about NFTmall🤝
That wraps up the first part of the AMA session✅
Let’s now proceed to the Twitter Questions section,
I hope you’re ready for that!
Rakib:
ok
Ramsy:
Let's go...
Segment 2️⃣: Twitter Questions
Q1)With NFTmall, creators can receive the full price and ongoing royalties of their artwork while paying ZERO fees. Why you are not charging fee for creators for the royalties of their artwork?If the fee is zero,is there no other hidden charges with regards in claiming royalties?
Rakib:
since NFTmall believes in Creativity and innovation and NFTmall is the worlds first Creator centric, Physically redeemable NFTmarketplace and we prioritise NFT creators/artists, unlike any other top tire NFTmarketplace! And we allow creators to set the Royalty percentage as they like between (1-30%) and also allow the Royalties distributed instantly with every sale! Also to facilitate the NFTcreators unlike other marketplaces, we charge Zero minting/Platform fees.
Q2) it is interesting to know, why NFT MALL, decided to develop in such powerful ecosystems as BSC and POLYGON? these ecosystems had what they needed to link digital and real assets, providing security? Polkadot and ETH could not serve as well?
Rakib:
As I envisioned, NFTmall as the multi-model NFTHub, anything related to NFTs and support and bringing all different major chains under one hood. Therefore NFTmall users have the opportunity to explore the benefits of the different chains under one unique platform called NFTmall. We have chosen BSC & Polygon network for the same reasons why there has been a mass exodus from ETH to BSC. The high gas fees and slow transaction speeds were a crippling hurdle that drove many investors and creators in search of better alternatives. It was only logical to bring the power of NFT’s to the BSC & Polygon where users could mint for free and experience the lowest fees in the industry.
And as NFTmall is the unique platform that brings all the benefits and opportunities that all different chains have to offer, we are currently integrating to ethereum chain due to finish very soon, and other chains like Avalanche, Polygon etc. will follow. And we look forward to launching our own blockchain in the near future as well.
Q3)About your token, its motive is to make it happend, NFT Meets DeFi & eCommerce. Can u explain how Nftmall connected with E-commerce field? Also how we can redeem NFT physically from market place? Is it some specific area oriented?
Rakib:
NFTmall is connected to the e-commerce field in many different ways like - Business-to-Business (B2B)
Business-to-Consumer (B2C)
Consumer-to-Consumer (C2C) etc.
Currently, we are integrating the Process with our Partnered supplier, and soon, users will be able to claim any NFTs into physical objects like Canvases or canvas frames etc.Users will be able to redeem NFTs into Physical objects from website, they can also have Preview the Physical NFTs in website and in AR through NFTmall AR App before Physical redemption, First they have to select the format and size then click Buy Now and then Buy now page layout will be like Ebay or shopify store, where users have to include their personal details like email, phone number and the delivery address , upon providing this information, it will calculate the total price including VAT due to pay & request user to pay with Cryptocurrency(stables) or Fiat through NFT prepaid visa card( this feature of paying option with fiat still under discussion with 3rd party provider)
So you order physical redeemtion of NFTs in the format you like and it comes as physical NFT as claimed like on canvas or framed canvas. The packaging box also includes a sticker, a business card, an instruction Manual and a Brand styling guide etc. :)
4)From my research, i found that NFTmall is the most creator-friendly NFT marketplace built for mainstream digital artists. So i want to ask you fhat as a creator how can i participate in your project? Currently is there any criteria to be a creator in the nftmall space?
Rakib:
As an NFT creator/ Artist, there is different opportunities to participate, www.nftmall.io platform is open to anybody and everyone is welcome, especially for up and coming talents to showcase their ART work by Minting an NFT at most reasonable cost!also for renowned creator/Artist and Up and coming talents our NFTmall Premium badge Innovative creators program is ongoing!
Apply as an artist
https://docs.google.com/forms/d/1k1HVZsRRvKF4xaEJTprEfzFFw1e37HOh9qhvXLs3Tlg
5) In my opinion most of the nfts don’t have real life use don’t be fair They are just made with intention to earn profits !,but no real life usecase or being beneficial to our ecosystem ! Do NFTMall have any thing unique regarding this?
Rakib:
Thanks very much for asking this question and noticing that!
Yes as you know, NFTmall is the worlds first physically redeemable NFT marketplace powered by defi & e-commerce and our vision includes creating real world use cases and utilities for any NFTs and NFTmall platform is taking NFT mainstream and creating use cases for any NFTs listed on NFTmall by facilitating the process and users being able to redeem/ order NFTs into physical products like Canvases or framed canvas, digital frame etc. and get it delivered on their doorsteps.
Ramsy:
Thanks 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?
Rakib:
yes please , lets go for it
Ramsy:
Here we go
Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and miners sent hundreds of questions. Mr. Rakib choose some best to answer)
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?
Rakib:
Yes as correctly mentioned most of the investors does not focus on fundamentals or base of the project and looses exponential gains by selling early or while project is in developing stage and yet to be deliver or launch product.I have realised that and also offer tons of utility/usecase or incentive for them to hold the GEM token for longer, like, Staking, Farming, NFTdrop etc are few.
2) Can you list 1-3 killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Rakib:
1. Opportunity to redeem NFTs into materialise objects. 2. Multichain & Standard support also becomes the NFThub for anything to do with NFT, idea is all major different chains under one Unique platform called NFTmall. 3. Creator centric, recognise innovation and creativity and facilitates creators in many different ways discussed here on earlier questions.
3) On your Roadmap Q1-Q2, you plan to launch a Borrowing & lending NFTs. So,can you give us an overview about this Borrowing & lending NFTs in your platform? How it will be implemented within NFTmall? Through borrowing and lending NFTs,do you accept collateral for this?
Rakib:
we are currently developing the mechanics of Fractional ownership, lending and borrowing of NFTs, and its in development stage currently, since we aim to go live with this feature in early next year and cant share since its confidential for now, hope you understand.
4) Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable ?
Rakib:
we take security of our contracts as main priority to secure our community and investors, we are audited by Certik foundation on of the best in the market, https://www.certik.org/projects/nftmall the audit shows how secure the contracts are but does not fully eliminate the external risk or it cant be since no body can control that situation. to provide extra and best possible layer of security for our Users and investors ,we also got Bug bounty programme live to scrutiny any potential risk and 5% of the token is dedicated to reward Bug bounty program and any white collar hackers to find the vulnerability https://www.nftmall.io/security This can help to find and solve or take protection against any potential unknown or unnoticed risk and gives a sense of security among users and mainly investors.
*This segment ends here*
Ramsy:
Thankyou so much For your valuable answers and information about NFTmall,
It Was Pleasure Hosting An Ama With You.
Is there anything else you would like to share or you want us to know ?
Rakib:
Thank you very much for inviting me here, I am truly grateful to my community for thir beloved support and trust in us, we build around 10K community in short period of 3 months time and counting and i invite everyone from CryptoTitans community to join NFTmall and explore its benefits and ask any question they might have in my telegram group.Thank you very much for the invite and if you allow me I would like to share some infographics and stickers :)
Ramsy:
Once Again Thank you so much for spending time with our community & Wish all the very best for "NFTmall"
Rakib:
Thank you very much for inviting me here, I am truly grateful.
Ramsy:
🤝❤️
Community, if you want to gain more knowledge, here are useful links for you;
Website : https://nftmall.io/
Telegram : https://t.me/nftmall
News channel : https://t.me/NFTmall_newsOfficial
NFTmall Artists : https://t.me/nftmallartists
Medium : NFTmall
Discord : https://discord.com/invite/SG4GGYMXvJ
Twitter : https://twitter.com/NFTmall
FB : https://www.facebook.com/NFTmall-101972288642593
Reddit : https://www.reddit.com/user/NFTmallOfficial
Instagram : https://instagram.com/nftmall?igshid=19rw5m3uq46td
LinkedIn: https://www.linkedin.com/company/nftmall
YouTube : https://www.youtube.com/channel/UCF563MOQhJYfWgW1L9TDEHQ
