AMA Recap: CRYPTO MINERS X XFINITE
Xfinite is revolutionising digital media by innovating customer experience, data driven engagement and ecosystem economics for the benefit of our community, built on Algorand. Xfinite aims to revolutionize digital media by bringing forth innovations to customer experience, data driven engagement, and ecosystem economics for the benefit of the community. It is a technology enabled solution to ensure transparency and re-establish trust in the digital world. Xfinite has launched Mzaalo which is a gamified video on demand platform available on iOS, Google Play store and Web. Mzaalo provides free access to premium content, user rewards and a range of fun and interactive features.
We hosted an AMA session with XFINITE on 1st February.
Mr. Ramsy was the host from Crypto Miners and Mr. Santosh and Mr. Vikram was the guests. They shared delightful knowledge and unique features of XFINITE.
Segment 1️⃣: Introduction
Welcome to the special AMA session with XFINITE,
To help us learn more about the featured project of this AMA session, we are lucky to be joined By Mr. Santosh , Mr. Vikram
Hello Crypto Miners!!!!! 🖤
Hello There 👋
Thank you for having us here! Hello everyone! 👋
Excited to be part of this community 🤘
Wolcome here Guys
Thanks for bringing Us Xfinite❤️
Thank you for having us
I'm pretty sure that our AMA participants are very much excited to learn more about Xfinite ✌️
So let's get started 🤝
First of all Please give us a brief explanation about 'Xfinite' .What popped up in your mind to create such a platform in this Space?
Xfinite is a decentralised entertainment ecosystem. We have product lines under two verticals - Streaming (Mzaalo) and NFTs (MzaaloNFT)
We believe content ecosystem needs a web3.0 native model. At Xfinite we are implementing a “watch to earn” model similar to play to earn in gaming ecosystem.
$XET is the native currency of Xfinite ecosystem
Our inspiration for doing this - We believe users time is a valuable asset and they deserve an incentive for participating in content economy
Thanks Santosh For this great start about Xfinite 👌
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?
1) Watch to Earn model differentiates us from Web 2.0 native VOD models such as Netflix
2) Crypto nativity and $XET token design allows us to share skin in the game with users and creators - This differentiates us from all streaming platforms
3) NFTs allow us to share ownership of various media assets/IP with our network
This is the future of how content economy should work 🤘
Q3) How has the experience and background of your team been effective in the success of your project so far?
We have a fairly decent sized team of approximately 50 people and ~25 contractual workers. Most of our team is dedicated to product, tech and blockchain.
Swaneet comes from a predominantly finance / tech background, Santosh is our Chief ecosystem officer and comes from a VC and native blockchain background. I have a media and entertainment background. Our talent pool is a mix from Global Corporations, startups & entrepreneurs making our organization an innovation hub with a rigorous execution culture.
The good thing about our management team is we all come from different backgrounds. Vikram has a media background, santosh has a crypto background and Swaneet has a finance/tech background.
4) Now Share us about your Native tokens, What are the some of utlities of $XET in Your Ecosystem? And if possible share to us the Tokenomics
$XET (Xfinite Entertainment Token) - the native currency of Xfinite powers various utilities in the network
1) $XET powers watch to earn model and used to incentivise users, creators and brands
2) $XET can be used to buy various different NFTs in our marketplace. We specialise in content NFTs, Movie NFTs apart from digital art/collectibles
3) $XET as a staking token - to bootstrap liquidity across DEXs and strengthen economic activity through XSPO (Xfinite Stake Pool Offering)
4) $XET as a medium of exchange across various content economies on Xfinite
In future $XET will pave the way for progressive decentralisation of the network
You can access $XET currently on MEXC, Bitmart and Tinyman(an algorand native DEX)
$XET is an algorand standard asset (ASA) and is supported by some of the largest crypto ecosystem participants. You can find more details on Xfinite.io
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 Xfinite? If possible could you please share road map with us.
Xfinite was launched in summer 2018, basically started from a paper idea. It has been an incredible journey, from the initial funding of the company to scaling it to over 50 employees today.We have launched mzaalo.com, that is already providing FUN & equitable distribution of value to users. Also, the partnerships that we have managed to secure, such as Eros, Microsoft, Daily Hunt, Josh. Merc Daimler and Spice jet that are significantly increasing our reach as well as over 600 + reward partners close the loop in our circular economy.
We are now launching India's largest NFT markletplace mzaalonft.com. We are bringing alive the concept of Content drives Commerce as we continue to innovate and build our decentralized entertainment ecosystem
Thanks Guys for this well detailed introduction about Xfinite:)
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!!
Yes! Let's go
Segment 2️⃣: Twitter Questions
1)I noticed that The #XfiniteOfficial Multiver Founders Token" or MFT is an epic character in game, and a great way to get extra characters. How can we get one of these unique characters? Is it available on the market or only accessible through rewards and prizes
I’m genuinely not sure where he saw this. We have only one token which is $XET and we have recently created a NFT platform in beta version: mzaaloNFT.com
2) How will you manage your platform if there are unexpected problems in the future, especially the hacking problem that causes your platform to have some personal data of some users who violate your platform? Is your platform ready to face this situation?
Good question! We treat security as a priority.
1. We internally stress test several times before launching
2. Fabulous group of blockchain engineers on our side to address security challenges (current and future)
3. Xfinite is one of the largest projects on Algorand and is supported directly by Algorand team who are among the best teams in the ecosystem to make sure security standards remain top notch
4. Here is the security audit report of our token: https://runtimeverification.com/blog/runtime-verification-audits-xet-token-and-its-deployment-script/
3)Currently metaverse, gameverse and NFT are topping the crypto industry hands down. What are the basic initiatives in place to draw investors to the Xfinite ecosystem and ensure long term growth and sustenance of the platform using this popular feature?
Xfinite is the NFT space and in fact we believe digital art and collectibles are just the start. Every single media asset in our ecosystem can be NFTfied
Xfinite will scale to become a media metaverse for mass adoption. Some major announcements in our roadmap around partnerships around this
Some interesting Investor focused updates
1. Linking $XET to Mzaalo, launching digital avatars, fan tokens for mzaalo users
2. Launch of Mzaalo NFT Marketplace
3. Launch more staking pools as a product and scale it to LP farming on different DEXs across ecosystem. Our initial experiment on LP farming is currently live on Tinyman - an Algorand native DEX. https://app.tinyman.org/#/swap?asset_in=283820866&asset_out=0
11.25% of our $XET total supply is dedicated to all staking efforts.
We believe long term supporters of the network deserves to earn the most skin in the game
Also check yieldly: https://yieldly.medium.com/yieldly-levels-up-xfinite-partnership-with-new-liquidity-pool-january-27-afcefadafdb3
4. Algorand Stateless Proof (allowing interoperability between chains)
4)I read that, Xfinite is leveraging Algorand Blockchain. How Xfinite application "MZAALO" use Algorand’s robust and scalable tech to increase it's adoption? How do #Xfinite team plan to DEMOCRATIZE content consumption at an even faster speed?
Algorand is one of our strongest partners in this journey to bring Mass adoption to crypto and Blockchain.
We have chosen Algorand blockchain for its performance, scalability and pure POS has a philosophical alignment with our mass adoption mission
5) Each project has interesting stories before it is created. So can you tell people about the story that gave you the motivation to build and develop a great project like yours?
Here is our last question from this segment
Our story stems from the problems that exist in the native OTT landscape. We observed that Web2 companies were not bringing community to be part of the ecosystem and in a large market there is room for a model that brings in community to drive adoption of the platform. We are here because of this problem. Mzaalo in hindi is a play on words of Maza Lo which means to have fun!
Thanks 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 Guys?
lets go 🚀
Segment 3️⃣: Live QnA
(In this segment group was opened for 60 seconds and Miners sent hundreds of questions. Guests choose some best to answer)
Partnership and collaboration is essential for the project development and success . Who are your major partners and what plans do you have further. Please share your roadmap if possible?
Our strategic partners Algorand and EROS provide us with great assets and acceleration. Algorand is an amazing technology and team and is significantly accelerating our growth and social reach in the blockchain space. Eros on the other side allows us access to one of the best content libraries in Asia and the ability to be seen by many millions of people and prospective users. We also have many more partnerships such as Microsoft, Dailyhunt, Josh, SpiceJet, Merc Daimler, 25 + key content partners and over 600 + rewards partners that you can already find on our app, Mzaalo.www.mzaalo.com
What network does your project stand on? BSC, ETH, polygon, Others. please tell me which of these??
3) Celin Peter:
Which do you think is more important:
C. Token Price
If all of the above is important to you, whiich should come first??
All of the above are important along with users to scale a network. Users and Community always comes first 🤘if I have pick the most important ones for long term growth
4) ☞মি্ঁষ্টি্ঁ☆ মে্ঁয়ে্ঁর্ঁ➻❥:
Do you have any YouTube channel, or website for this project? From where, we can learn something?
https://youtube.com/c/mzaalo with over 1.9m subscribers already!
5) Shihad K:
Do you consider community feedback/requests during product creation to expand on new ideas for your project? Many projects fail because they do not understand the target audience and customers. So I want to know who is the ideal consumer for your product?
Great question! Our decentralized entertainment ecosytem is built to drive equitable distribution of revenue to all stakeholders. We believe in #fansfirst culture and our platform is designed to reward the community - we are tokenising time and attention. User participation, feedback and requests are critical inputs to build our content and reward recommendation engine
*This segment ends here*
Thankyou so much Guys For your valuable answers and information about Xfinite,
It Was Pleasure Hosting An Ama With You Guys
Follow and support $XET for several prizes and surprises!!!
Time To Conclude Our AMA Section
Thank you Ramsy
Amazing community and people!
Thank you Ramsy for this super interactive session! amazing community
We Wish all the very best for Project
Xfinite And The Entire team behind the project ❤️🤝
Community, if you would like to learn more about The Xfinite, here are some useful links for you:
Medium: Xfinite Official