KuCoin AMA With XCAD Network (XCAD) — The #Watch2Earn Revolution
Dear KuCoin Users,
Time: July 28, 2022, 10:00 AM - 10:43 AM (UTC)
Official Website: https://xcadnetwork.com
Oly — CEO of XCAD Network
Oliver Bell is XCAD Network's CEO, the world's first Watch2Earn platform backed by YouTubers with over 500,000 subscribers. Oliver is also an advisor at OPUL, Step App & Blockasset.
Q&A from KuCoin
Q: Kindly introduce the XCAD Network project to us.
Oly: XCAD Network is a fan token and NFT platform for some of the biggest YouTubers in the world. With an element of Watch2Earn, fans can earn fan tokens directly on YouTube via our Google Chrome Plug-In without any changes to their existing workflow. These fan tokens can be used to vote on certain creators' decisions or unlock special perks such as early ticket access for events, Merch, NFT drops, etc. Think of it like CHZ but instead of for football clubs, it's for content creators who will actively promote the fan tokens and the XCAD Google Chrome Plug-In. We have seen a huge attraction to the Play2Earn movement and the Move2earn movement. Now it's time for Watch2earn!
Q: Which factors will make the Watch2earn by XCAD heavily adopted, especially if the target audience is retail users with a limited understanding of cryptocurrency?
Oly: XCAD is more targeted at the retail market than just the 'crypto community. So we're in a unique position. A lot of projects in this space tried to reinvent Web 2.0 products. For example, you've seen people try to build a new decentralized Youtube. For me, this will never take off. You will never compete with YouTube. But why not add value to something that already exists? This is what XCAD does. It works directly on YouTube without changing any user's workflow. Users already watch YouTube, so why not earn while watching by downloading a plug-in? Each creator has a fan token, which they will promote to their audience. These tokens can be used to access special perks around the creator, such as event tickets, merchandise, involvement in videos, and more.
Q: What does the XCAD Ecosystem look like?
Oly: 1. XCAD Plug-In & Mobile App - Google Chrome Plug-In is used to reward users who watch creators' content.
2. dXCAD DEX - Somewhere in which users can trade the fan tokens. The only suitable space and only tradable against XCAD.
3. Governance Portal - This is where XCAD holders can vote on who can become tokenized & where fans of creators can vote on decisions around the creators.
4. Influencer Market Cap - Track all creators & their stats here.
5. NFT Moments - An NFT Marketplace where users can open packs to pack the most iconic moments in a Creator's career in the form of NFTs. They can compete to collect Creator collections and trade NFTs.
6. Launchpad (CLOs) - Similar to launch pads like DAO maker, it allows you to provide liquidity to creator tokens at the CLO price before they list on exchanges against XCAD, and you get Creator tokens in return for contributing towards a CLO.
Q: Who is XCAD backed by, and who is issuing fan tokens?
Oly: XCAD has received investment from a few known parties such as Mr. Beast & KSI. Recently. We have completed a Series A funding from "Jump Crypto/Jump Trading," which I'm sure most of you have heard of. The Series A gives us enough runway for the next 5-6 years, so we are in a good place even if crypto winter lasts a while. Regarding the creators issuing fan tokens, we have announced YouTubers with 500m + Followers issuing them. You can find the complete list here: although we have many more to announce. Kucoin also invested in XCAD!
Q: When would the platform go live?
Oly: Most of the ecosystem, besides the NFT moments, is now live. We expect NFT moments to be live within the next few weeks.
As for the Plug-In and fan token rollout, we have taken a progressive approach to roll the Plug-in out. It already has more than 10,000 downloads without any marketing from YouTubers yet. All YouTubers issuing fan tokens will promote the product and their fan token to millions of followers.
The rollout approach slowly enables more and more users to get feedback. However, because of the names involved with XCAD, we need to ensure everything is perfect. So we are rolling out things feature by feature too. You can read more on our rollout plan here.
For those interested in the Plug-In, check this out!
Q: What does the XCAD token do?
Oly: The XCAD token powers the whole XCAD Ecosystem, and you need XCAD to do anything there. Here are some of the XCAD's use cases:
1. Powers the launchpad, similar to DAO maker. For example, you must stake XCADs to access CLOs (Creator Liquidity Offerings). If you win in XCADs, you invest with USDC. We buy XCAD off the market and pair it with the creator token. In return, you receive a certain % of the creator tokens up for grabs.
2. Needed to use the Plug-In - The more XCADs you stake in the Plug-In, the more creator tokens you earn when watching content.
3. Governance - Vote on decisions around the ecosystem.
4. NFT Marketplace - Used to by NFT moments. Along with creator tokens, XCAD is needed to purchase the creator tokens. Users can purchase XCAD via the fiat gateway, which buys XCAD off the exchanges Kucoin and swap them for creator tokens.
Free-Ask from KuCoin Community
Q: Are you guys planning to add more social media platforms other than Youtube? For example, Facebook Gaming, Twitch, or even a TV channel.
Oly: We have already announced Twitch which is coming this Q4. We plan to expand to other platforms, too. However, we need to walk before we can run!
Q: What is the difference between the XACD network and the Verasity?
Oly: Verasity is solving a very different problem in space. Adfruad, we focus on bridging the gap between the creator and the fan while adding further financial value to the creators and fans. I'm sure there are many ways XCAD and Verasity can work together. But we are not rivals and not targeting the same market.
Anyway, the requirement of watching 80% or more of a creator's video also helps the creator as it pushes them into the YouTube algorithm to aid their growth.
Q: The Watch2Earn mechanism is commonly compared with Play2Earn and Move2Earn. What is your take on that, and how do you think Watch2Earn will evolve against these two?
Oly: Watch2Earn, in theory, should be bigger, right? For example, more people watch YouTube than do fitness. YouTube is the second biggest Website in the world.
Q: Where can I get the latest updates or more information about the project?
Oly: Come and visit some of our sites!
Official Website: https://xcadnetwork.com
Telegram Group: https://t.me/xcademy
Q: Are you afraid that someday, there will be another project with more innovative technology that can replace your project?
Oly: Not really. All the creators have non-compete contracts, and it would be pretty hard to compete with us at this stage.
Q: Many projects have problems with UI/UX, and this one turns off new users. How do you plan to improve the interaction with new users and users outside the crypto space?
Oly: Download the Plug-In and take a look for yourself; it feels more like a Web 2.0 product than web 3.0. And it is very user-friendly.
KuCoin and XCAD Network (XCAD) have prepared a total of 1,250 XCAD to give away to AMA participants.
1. Free-ask section: 50 XCAD
2. AMA activity: 1,200 XCAD
Quiz: 900 XCAD
Price Guess: 210 XCAD
Participation Rewards: 90 XCAD
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