KuCoin AMA With MetaBeat (BEAT) — A Vision Embarked on a Value-Sharing Economy

Dear KuCoin Users,

Time: November 16, 2022, 10:30 AM - 11:41 AM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the CEO of MetaBeat, Stephanie Kim, in the KuCoin Exchange Group.

Official Website: https://metabeat.foundation/

Whitepaper: https://metabeat.gitbook.io/metabeat-whitepaper_ver2.1/

Follow MetaBeat on Telegram and Twitter.

Project Introduction

Geared up with 4,000 KPOP music IPs, global top tier investors, and industry partners, MetaBeat is a new Fan-to-Earn music NFTFI platform powered by rewards and social engagements. Shout Out your artists, hold Community NFTs, or stake BEAT to receive rewards and grow with the success of your artists. MetaBeat's innovative NFT model of using real assets, music IP, emerges a new paradigm of fan community, as they are enriched with rewards for their contributions in fanning out to the music.

Guest

Stephanie Kim — CEO of MetaBeat

Stephanie Kim is CEO of MetaBeat. She has extensive experience in business development and service modeling from her previous career in business consulting and management. Her expertise is well paired up with MetaBeat CTO Danny Jeong, who specializes in software development and blockchain technology. In addition, MetaBeat has team members with expertise in digital design and branding, entertainment marketing, and so much more. This variety is what really allows MetaBeat to create a platform that will cater to every fan and artist’s needs.

Q&A from KuCoin

Q: Please introduce the MetaBeat project.

Stephanie: MetaBeat is a new Fan-to-Earn music NFTFI platform powered by rewards and social engagements. MetaBeat has two distinctive features. One is our innovative NFT model of using real assets, music IP. Each NFT is backed by different catalogs of music IP that NFT holders receive monthly rewards as long as they hold the NFT with ownership of the community to grow with their favorite artists. We have access to 4,000 music IPs in KPOP, the largest IP pool ever for the web3 music platform.

Second is our social-fi feature. Shout out your artists and music on your social media networks or MetaBeat platform and receive rewards based on the FANomance Index. This is a unique service of MetaBeat to reward the fans for their contributions to celebrating their fanship and creating buzz for the artists and music.

I will quickly go into what the FANomance Index is. FANomance Index is a unique index created by MetaBeat that tracks data based on the following:

1. The performance of music catalogs backing the Mingle or Community NFT
2. The broad social media footprint of any relevant underlying assets on and off the platform; and
3. User's contributions to the social media footprint. The monthly rewards are allocated based on this index.

Q: Tell us about the MetaBeat project team.

Stephanie: The MetaBeat project team started about a year ago. Our team is composed of key players that come from various backgrounds. This variety is what really allows MetaBeat to create a platform that will cater to every fan and artist's needs. For example, Danny, MetaBeat's CTO, has extensive tech development knowledge, while I have experience in business development and service modeling. In addition, MetaBeat has team members with expertise in digital design and branding, entertainment marketing, and so much more. We will continue to grow our team to ensure that we can secure a fan-friendly and exciting platform.

Q: It is always helpful to tell the community about the project's background and the pain points it solves. Tell us more about that.

Stephanie: Web3 has opened up a great possibility for the music industry, with various use cases piling up. It mainly focused on providing solutions to empower artists to connect directly with fans and give fans more creative ways to consume their favorite music. The core of web3 is about putting the power in the hands of the public and how we interpret that into real use cases. Our services are founded on the value-sharing economy. Recognize the value of contributions made by the music fandoms, and reward them so the fans can grow with the success of the artists. Fans' word-of-mouth marketing is the most powerful tool for artists, and the artist's success depends on the fans listening to the music, watching music videos, etc.

We are happy to share that our vision has been recognized by top-tier global investors and received investments from Kucoin Labs, NGC, GSR, GBIC, AC Capital, Alchemic Investments, and more to venture into becoming a top web3 music platform.

Q: What service will the app offer to its users?

Stephanie: Our app has four (4) services: Drops, Mingle, Shoutout, and Marketplace. We have completed our development, and our Beta version will open very soon. Drops are for NFT auctions and Mingle for staking BEAT. Like our NFT, each of our Mingle is also backed by music IP. So, by staking BEAT, you will also enjoy additional fan privileges as a part of the community. Shoutout is the Fan-to-Earn feature. Shoutout to your artists and earn rewards. And lastly, the marketplace is a p2p trading place for the users to buy & sell our NFTs.

Q: Tell us more about BEAT utilities.

Stephanie: BEAT has many utilities. Fans can use BEAT tokens to purchase NFT on our platform and become owners of their communities. As mentioned above, NFT holders earn BEAT token rewards on a monthly basis. Fans can also stake BEAT tokens in Mingle, backed by music IP, and receive monthly rewards. Fan communities will have fan privileges, exclusive access to goods, concerts, and so much more. In addition, fan community members play a huge role as they'll have voting rights to community governance and other exciting opportunities such as WL access. Essentially, the BEAT token will allow music fans to grow with the community and their favorite artist. And In the long run, you will enjoy the boosted utilities of BEAT tokens as we further expand our content and ecosystem.

Q: Share more about your roadmap.

Stephanie: We are very excited to have our first listing on Kucoin. Kucoin has an excellent community, and with your support, we will kick off a successful path for MetaBeat. Next week, we will participate in byvote, a competition for listing on Bybit. So, for those who are also Bybit users, please support us by voting for the successful listing of MetaBeat.

As mentioned, our app will go live very soon. It is most important for the projects to make careful planning and commit to fulfilling those plans. We need to continue to develop and build, especially in times like this, to build trust with our investors and community. We will expand our utilities and user base, focusing on the core for the further growth of the project.

In the Beta phase of our launch, we will increase our brand exposure while stabilizing our platform before we upgrade to a full-scale version. We are planning several collaborations with other NFT marketplaces to expand our reach. We will also drop concert tickets, exclusive album releases, and fan privileges to MetaBeat users. I am confident that our team will pave the path as we become a top global platform for all music communities.

Free-Ask from KuCoin Community

Q: What is the most ambitious goal of your project?

Stephanie: Our most ambitious goal is our ultimate goal to be a top web3 music platform for all music fans. Though we start with KPOP, we intend and plan to expand to other genres of music and absorb global music IP and fans. We are currently speaking with many entertainment and label companies in the US, Vietnam, Thailand, and Latin America. It will not happen fast, but we will take one step at a time.

Q: Is your project a community only for English-speaking countries or for users not of other languages?

Stephanie: Our Beta app will open in English and Korean. But, when we open full-scale, we plan to add more languages since KPOP fandoms are truly global, and we hope to reach out to them.

Q: Do you feel satisfied by seeing your progress and achievements until now, when you look back to the day you started this project?

Stephanie: The journey up to now has not been easy, to be honest. But, it has been very fulfilling in that though it was not easy to overcome the hurdle each time, we did it one by one as a team. We are here today because of our project team. Our team members, as one, have made MetaBeat.

Q: Are you currently focused on the community, market, or products?

Stephanie: All of them. I have learned that we have to focus on all of them for the project to perform successfully.

Q: Please describe your partnership so far and upcoming strategic collaborations.

Stephanie: Please visit our website!

Q: Do you consider community feedback?

Stephanie: Yes, we are considering and will continue to do so during our Beta service open period. Our services took in the feedback from fan clubs' KPOP when designed. However, business aspects also need to be considered for the project. The key is in the fine balance between how we can answer the needs of our audience in the best way we can while keeping the business sustainable.

Q: Do you have enough funds for your project's development?

Stephanie: For the development of the project, we were well supported by our shareholders. One of our shareholders is RBW, a top 5 music IP holder and entertainment company in Korea and a listed company in Korea. And moving forward, we were fortunate to have support from top-tier investors who joined as our partners. But, more importantly, the project has six revenue sources from the transactions on our platform. And with the growth of the user base, the project will continue to expand.

Q: Where can I buy your tokens now?

Stephanie: We are currently listed on KuCoin as our world premiere! Trade BEAT/USDT on the KuCoin Spot Market now!

Q: What is the minimum staking amount to stake BEAT?

Stephanie: There is no minimum staking amount at Mingle. (a unit of pcs, a very small amount of BEAT). We want Mingle to be for all users to participate. So, even with a little BEAT, you can stake!

Q: Do you have any plans to attract non-crypto investors to join your project?

Stephanie: Yes, this is another very important goal for us. We want to attract fandoms of KPOP who are not crying or experienced. So, our app UI/UX is very easy to use and intuitive for retail users. Also, when we go full-scale service, we plan on making live marketing to attract the KPOP fandoms to come on board.

Q: Tell us more about the Ambassador Program and in what ways we can participate.

Stephanie: The ambassadors were for those who bought our 1st Special MAMAMOO Edition drop at Cryptocom NFT. However, do look out for our launch! We have a special program lined up for our 1st comers!

Q: Do the token holders have the right to participate in the governance of the project?

Stephanie: The NFT holders or Mingle stakers will have the right to vote for the community. First, the voting will start with Shout out missions or challenges the community wants to release. But, eventually, we want each community to be under DAO governance. Then, they can decide on the treasury allocation to support their artists and projects to get involved.

KuCoin Post AMA Activity — MetaBeat (BEAT)

🎁 Participate on the MetaBeat AMA quiz now for a chance to win $10 in BEAT!

The form will remain open for five days from publishing this AMA recap.

Giveaway Section

KuCoin and MetaBeat have prepared a total of $2,000 in BEAT to give away to AMA participants.

1. Pre-AMA activity: $400 in BEAT

2. Free-ask section: $50 in BEAT

3. Flash mini-game: $400 in BEAT

4. Post-AMA quiz: $1,150 in BEAT

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