AMA Recap: CRYPTO MINERS X PARA FOUNDATION

PARA, a blockchain-based entity, operates with an aim to enable users across the globe a simple and fast use of crypto-currency in their everyday life. A strong network of partners in retail stores, clubs, bars, restaurants, online shopping and many more ensures crypto-admirers to purchase their beloved goods using crypto assets as easily as fiat currencies.

We hosted an AMA session with Para Foundation on 27th November at 5:00 PM UTC.

Mr. Ramsy was the host from Crypto Miners and Mr. Oliver, CEO of Para Foundation was our guest. He shared delightful knowledge and unique features of Para Foundation.

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Segment 1️⃣: Introduction

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Ramsy:
Hello everyone 👋 and welcome to the Crypto Miners AMA session PARA Foundation

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. Oliver, Welcome to our community 🤝

Oliver:
Hello everybody and thanks for having me 😊🤝

Iàm super excited !

Ramsy:
Hello there 👋

Glad to see you here ,
Thanks for bringing Us PARA Foundation❣

Oliver:
That`s what I do for a living 😄

Ramsy:
Haha😸, Cool

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

Oliver:
I am born ready!
Lets go

Ramsy:
🥂🕺

Before We Start Project Introduction, Please Introduce Yourself With Us!

Oliver:
Sure!

My name is Oliver Singer and I am the CEO of PARA.

I am working as a Blockchain strategist for 2 years.

My journey in the Blockcheinmarket started in 2016 as a Blogger and I am very happy, to make my hobby my profession.

Ramsy:
Nice to meet you 🤝

Oliver:
🤝

Ramsy:
Now let's start our project introduction Section...

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

Oliver:
The Para Ecosystem aims to disrupt the show and entertainment industry in a multi-dimensional way. It’s time to bring this industry into a new era. The blockchain era.

In 2021 the popularity of NFTs grew and now the space processes billions of dollars per month in transactions. A few percentages of the transactions always flows back to the initial creator of the NFT which serves as a new sustainable stream of income for artists.dd

Especially in times of lockdowns and quarantines artists are looking into new ways of generating revenue. Especially in the music and entertainment industry this problem grows larger. This means that people with millions of followers have issues monetizing them.

Para wants to take this unique opportunity, create a new lucrative income source for influencers and entertainers and use the publicity to market the whole Para Ecosystem and especially the Ecosystem Token, the Para Token.

Ramsy:
Great Vision 👌

Now let's see our second one....

Q2) So what are your main features and advantages that discern you from other projects?

Oliver:
Paras unfair advantage lies in the way it will launch and go to the public. Due to heavy engagement in the German music industry, which has an audience of +50’000’000 people, by members of the founder team, Para could already secure deals with some of the most influential german speaking artists and athletes.

As of now the first Para NFT drop will have a reach of +15M people and will be the biggest NFT sale the European market has ever seen, drawing lots of attention to Para.
The Para Ecosystem will start as an NFT platform for entertainers, stars and influencers. This will also be the first source of revenue for the Para Team to be able to further develop the ecosystem without having to go through any ICO-style fundraising round.

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

Oliver:
Our Team is the key to our success.

On the one hand, we have programmers with lots of experience with Blockchain programing and on the other hand, we have young designers and programers, that know exactly, what a visionary project is all about.

Some guys studied Blockchain in Switzerland.

A key factor of why we will succeed as a team ist, that we are all located in Switzerland and are able, to work with each other.
This leads to a very good communication and identification with the project.

Of course a key factor of success is our contact with Stars and Influencers.
Without them, the project would not be in the same position, as it is right now.

Ramsy:
Wow, that's be great for PARA Foundation👏

Q4) Now Share us about your utility token, What are the some of utlities of $PARA Token in Your Ecosystem? And if possible share to us the Tokenomics of $PARA

Oliver:
Blockchain,
The Para Token will go live on the Polygon Network which makes sure everyone can participate in NFT sales because of the low Gas Fees. The alternative would’ve been Ethereum but buying an NFT and paying the same amount just for Gas Fees might irritate new users which Para is also targeting.

Liquidity for Exchanges,
50% of all tokens will be used to provide liquidity on Sushiswap. The 50% will be paired with $250’000 in WETH to ensure there is enough Liquidity for new users to get in. To ensure a perfect balance between security and flexibility, 50% of the initial LP tokens will be burned. The other 50% can be withdrawn from Sushiswap to be able to provide liquidity for other exchanges like Kucoin and Binance.

Dev Team,
10% of all tokens will go to the development team to fund the future development of the Para Ecosystem. The tokens will have a linear vesting period which will take 1 year to complete.

Marketing,
20% of all tokens will be used for marketing. The reason why this pool is larger than the dev pool is because these tokens will be mostly given out to Influencers and Stars to motivate them to talk about the Para Ecosystem and especially about the Para token.

Reserve,
20% of all tokens will be locked in a smart contract as reserves for later use like liquidity mining rewards or other mechanics which might come at a later point in time.

Ramsy:
Let's deal 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 Para Foundation? If possible could you please share road map with us.

Oliver:
The Para NFT platform including the Para Token will go live in December.

In a second step which will follow in Q1 2022 the Para Token can be used to access special giveaways connected to the NFT sales and eventually people will only be able to interact with the Para NFT Marketplace with the Para Token. With this strategy we slowly integrate the Para Token into the platform.

Late Q1 22 - Start of Q2 22, Para will transform from a NFT sales platform for selected artists into a real marketplace. This increases the profit margin of the Para Ecosystem by 5% because there will no longer be a fee paid to Opensea. Additionally the Para Token will now also be used in the secondary market to pay for the NFTs. As soon as this feature goes live, users will be able to stake their Para Tokens and the 5% which now goes to the Ecosystem will be split among the Para Token stakers which adds an additional use-case for people to buy and hold their Para Tokens.

Q2 22, the Para Team will use its extensive network to get the Para Token onboarded in various business related to music and entertainment as a payment method. This will increase the usability of the Token once more since it can from then on be used as a payment token.

Late Q2 22 - Start of Q3 22, Para will open up for any artists to release NFTs. Additionally the category of NFTs will expand. Upcoming artists will be able to do fundraising to be able to afford studio sessions, superstars can sell unreleased tracks and videos as NFTs on Para and Influencers can sell access to exclusive content to their community through NFTs.

Late Q3 22 - Start of Q4 22, Para starts going into the Metaverse. Concerts of Travis Scott and Ariana Grande on Fortnite showed that the world is ready for virtual concerts and shows. Facebook will take this a step further with their Metaverse announcement. The world is ready for real immersive Metaverse experiences and Para with its already big network of Stars and Influencers will be among the first to pioneer in this field. The Para Token will be used to purchase digital tickets to digital events which will happen way more frequently than ever before.

We are working on this project for half a year, but it is very hard to tell a certain period of time, because we already had this Idea like a couple of years ago and then the process just began at some point in time.

When the weel started rolling, nobody was able to stop it .

Ramsy:
Thanks for that well detailed introduction about PARA Foundation🤝
That's the wrap up our the first part of the AMA session✅

Oliver:
Let`s get to the intersting part
The Twitter questions 👍

Ramsy:
Sure, Let’s Go 🏍💨

Segment 2️⃣: Twitter Questions

1) Para — The Community Token! A blockchain-based entity, may i know how you enable users across the globe a simple & fast use of cryptocurrency in their everyday life ?

Oliver:
Thanks for bringing up this important point!
one of our biggest goals is to make it easier for many people to enter the blockchain world.
I won't reveal how we do that for competitive reasons.
But I can tell you how it needs to work.
Through our contacts in the event industry, we will have easy access to it and be able to implement the PARA token as a payment method.
The same goes for bars, restaurants and hotels.

Buying a drink in a restaurant with PARA must become as easy as buying it with dollars.

and it will

2)How PARA seeks to gain an unfair advantage over others through an unique strategies from what i saw from your group It aims to create a platform where artists have an income source through their art and work right ? How do you plan to gain popularity among the content creators?

Oliver:
You are absolutely right.

We already have contracts with many stars of the entertainment, music and sports industry and more and more stars are enthusiastic about our platform.

Our strategy to attract more and more celebrities is simple but effective.

Start with the big ones, then the small ones will come by themselves.

3)What partnerships does para foundation currently have or targeting for the future?What strategy did you use to make the para token more valuable in the market? What are the benefits you offers to the token holders???

Oliver:
At the moment I can't tell you much about our partners.

However, we will do that in the next few weeks before the launch, so be curious.

The value of our token stands and falls with the usability and attractiveness of our NFT platform.
For this reason we are working as a team around the clock.
Our goal is not to build the hundredth NFT Platform, but the best.

Another point that naturally affects the value of our token is the demand.

As I mentioned before, we already have contracts with big stars from the entertainment industry.
Their communities will have to buy PARA in order to acquire NFTs from their stars.

4)security of assets is the first thing that comes to me and other Investors when choosing a project, so what are you writing to ensure that the smart contract is free from errors and vulnerabilities?

Oliver:
Our Smart Contract was not only written by experts, but also reviewed by them.
Both internally and externally.

Furthermore, we already have an audit from Hacken and will have other audits in the future.

5)I saw in your twitter that you were running an Airdrop of 1000$ to 10$ as a thanks giving. Can you tell me is it still running? If yes How can i participate in this event? How will you identify the users as early supporters?

Here's our last question from Twitter:)

Oliver:
Unfortunately the airdrop is over and the winners have already been announced.

Maybe, there is going to be another Airdrop at some point in time.
Make sure to follow us on social media to stay informed.

I am very sorry to have to disappoint you right at the last question guys

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?

Oliver:
Yeah let`s 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)’STAKING’ is one of the STRATEGIES to ATTRACT USERS and HOLD Them long term.

Does your GREAT PROJECT have plan about Staking??

Oliver:
Yes we have a plan about staking.

But other then many projects these days, we don`t want to inflate our Token, but strenghten it.

This means, that you will be able to stake your PARA Tokens to gain more of them,
BUT

There is something bigger around the corner.

We are working on a function, that gives you concert tickets for your favourite celebrity instead of tokens and stuff like this, so stay tuned!

2) Can you list 1-3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Oliver:
There are more killer features, i will try to sum them up:

There are hundrets, if not thousands of NFT platforms in the Cryptomarket, but most of them share the same problem.

There is nobody famous willing to launch their NFTs on their platform.

The PARA NFT platform will have the highest concentration of stars of the Sports,- Music-, and Entertainmentindustry.

We have the most recomendet programming Team in Switzerland, if not europe.

Last but most important, our community is growing day by day an will be a huge advantage in bringing PARA to the masses

3) Sir I want to buy your token. is it listed on pancakeswap, Binance, Kucoin, MEXC OR Any Exchanges??

Where can I buy your tokens now?? Can you tell us please?

Oliver:
Everytime, someone calls me Sir , there is one white hair growing on my head 😄

At this point in time, you are not able to buy the PARA Token.

We will launchour Token in December 2021 on Sushiswap and Quickswap.

Stay tuned for morge Information

4) Is your platform suitable for crypto beginners? Or does it only limited for professional users ?

Oliver:
Our platform is especially made for crypto beginners.
It has to.

Many of the celebrities fans never got in touch with crypto before, so it has to be very easy for them to get access.

5) how do you attract investors to be interested in Your project ? because some investors only focus on short-term prices rather than long term?

Oliver:
We are not intrerested in shortterm Inverstors, because they are just parasites of a longterm sustainable project.

There is a reason, why the coins of the dev team are temporary locked.
It`s because we are living this project and everything around it.

Of course we will have a rising price of our token.
It`s a sef fulfilling proffecy, but it is never our main focus to get a bigger and bigger prise.

Our main goal is a great userexperience and happy fans.

*This Segment ends here*

Oliver:
Thank you everybody for listening to me today

I really appreciate every single one, who joins us in our telegram or twitter

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

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

Oliver:
I want to send love to Mr. Richard and all the other people making our Telegram Channel a living planet and I want to say thank you to our german speaking community.

They were the first, that believed in us, when there was nothing.

Thank you

Ramsy:
We Wish all the very best for Project Para Foundation And The Entire team behind the project 🤝❤️

Oliver:
Thank you 🤝❤️

Ramsy:
Once Again Thank you so much for spending time with our community 🥂

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

Telagram: https://t.me/PARAcommunity_en

Twitter : https://twitter.com/para_fd

Website: https://para-foundation.org/

Channel: https://t.me/PARAfoundation_en

Instagram: https://www.instagram.com/para.foundation/