KuCoin AMA with NFTb (NFTB) — The Complete Multi-Chain NFT and DeFi Platform for Communities
Dear KuCoin Users,
Time: November 12, 2021, 11:00-11:52 (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with Tommy So, Chief Operations Officer at NFTb, in the KuCoin Exchange Group.
NFTb is the complete multi-chain DeFi and NFT platform for communities. Their mission is to help creators get comfortable and love using DeFi dApps. NFTb offers a premium NFT marketplace where users can access buyers from anywhere around the world and multi-chains, a DeFi platform giving users access to yield farming opportunities, and a launchpad created to help creators and projects to build early support. NFTb is backed by the Binance Accelerator Fund, Rarestone Capital, and Spark Digital Capital.
Official Website: https://nftb.io
About NFTb: https://nftb.io/about
Follow NFTb on Twitter and Telegram.
Tommy So — Chief Operations Officer at NFTb
Tommy has over 8 years of experience in leading marketing for Fortune 500 companies and high-growth tech startups. Previously, he held roles at DXC Technology (formerly Hewlett Packard), where he developed an app to distribute content and capture user data. He has also previously worked at a Venture Capital firm, where he advised many blockchain companies.
Q&A from KuCoin
Q: What is NFTb?
Tommy: At NFTb, we are building the Complete Multi-chain DeFi and NFT platform for Communities. Our mission is to help creators get comfortable and love using DeFi dApps.
NFTb originally launched as a Premium NFT Marketplace on BSC. However, after seeing new NFT marketplaces launch every week like the ones offered by Binance and Coinbase, we decided to pivot to build a user-centric platform to help communities access opportunities in DeFi.
Many of our competitors have added NFT Marketplace ad-hoc and have listed all kinds of NFTs to drive crazy valuations. However, this has resulted in a diluted user experience from different communities. NFTb is building purpose-built experiences for each community (Artists, Gamers, and Music Enthusiasts, [and others in the future]).
Each community is supported by NFTb’s Techstack, which includes:
NFTb Market — A premium NFT marketplace where creators can access buyers from anywhere around the world and on multi-chains.
NFTb Earn — A DeFi platform giving users access to yield farming opportunities plus an AMM to become a liquidity provider in a variety of DeFi farms.
NFTb Launch — A first-of-its-kind dual token and NFT launchpad created to help projects and creators launch their projects in a way that is fair for all.
Come check us out - http://nftb.io
Q: What made you decide to build NFTb?
Tommy: The idea for NFTb was born from the frustration of having to pay massive fees to buy, sell and create NFTs. However, in our journey to creating an NFT Marketplace that is accessible to all, we discovered there are many more problems that need to be solved.
Some of these problems include:
- The lack of support for languages other than English on many NFT Marketplaces. NFTs have been an unprecedented source of income for many artists from developing countries. These artists are underserved with the current NFT marketplaces.
We currently have local communities in 9 languages and have launched multi-language support for Chinese and Russian on NFTb.
- Access to buyers (liquidity) from other chains. Creators shouldn’t be restricted when it comes to who they do business with. The NFTb team is adding cross-chain support to enable artists to reach buyers on whatever platform they are on.
We are almost finished developing our bridge that can be used across a few EVM-compatible blockchains.
Although NFTb has evolved over the past few months - our mission to help make users love DeFi still remains. We started off creating a user-centered Premium NFT Marketplace, and now we are working to extend this user-centered approach to additional products, chains, and communities. In the future, we aim to build a platform that will allow users to access the metaverse easily via their NFTs and the value they have accrued on the blockchain.
Q: What milestones have you reached?
Tommy: We’ve made tremendous progress in defining our category of building a DeFi and NFT platform that is differentiated from other Open NFT Marketplaces.
Here are a few examples:
- We have received backing from Binance. https://www.binance.org/en/blog/nftb-secures-investment-under-the-100m-fund-set-up-to-boost-the-bsc-ecosystem
- We have an exclusive partnership with CoinMarketCap to do rare digital art NFT drops.
- We are the only BSC NFT platform to be a part of Adobe's Content Authenticity Initiative (along with OpenSea, Rarible and Known Origin).
- We are the only NFT platform to have a partnership with Binance NFT to enable cross-market liquidity.
- Although we are a curated NFT marketplace that only supports Digital Art, our transaction volume ranks well compared to many other NFT marketplaces.
- NFTb has introduced new innovations in the marketplace such as:
1) A unique dual NFT and token launchpad, which helps projects accelerate their launches and participants to mitigate risk by obtaining 2 different asset types.
2) We have pioneered the charity income split feature, which allows users to donate a portion of sales to a selected charity; and
3) Provided substantial cost savings for creators and collectors who have been using the ETH network to transact and create NFTs.
Q: Tell us about your partners.
Tommy: We’ve been building a huge ecosystem of partners to help us drive value to our NFTs and supported communities.
Besides the ones I have just mentioned previously. Here are a few more of interest:
- Our partnership with Watsi (a Tencent-backed charity) empowers creators to be able to donate to their charity.
- Our investment in CryptoTycoon, a P2E game built by a team who have worked for Tencent who will be integrating the $NFTB token into their games; and
- Division Network, who we are working closely with to ensure that our NFTs can be used in the metaverse.
Q: Tell us about your recently announced launchpad.
Tommy: NFTb Launch is a first of its kind dual token and NFT launchpad created to help projects and creators launch their projects in a way that is fair for all.
With NFTb Launch, creators and projects can build early support from communities through an Initial NFT Offering (INO) or IDO. For creators and projects, this represents a unique opportunity to accelerate lower the risk of entry for creating resource-intensive projects.
We also offer our DeFi platform, NFTb Earn, and NFT Marketplace to projects that launch with NFTb. This enables projects to focus on building and use NFTb as a one-stop-shop for launching projects and building community.
One example of this is ArtWallet, which completed an IDO with NFTb in October and reached an ATH ROI of 8,600% on its first day. Two weeks ago, we helped CryptoTycoon, a game founded by a Tencent team, raise 400 BNB+ worth of NFTs in an hour.
We have about 15+ more projects lined up to use our launchpad for the rest of 2021.
Q: What are your plans for the future?
Tommy: Our focus in the short to medium term is to continue to deliver on our roadmap and expand our platform to other blockchain ecosystems.
We have grown our team substantially in October. I am personally very excited to share more of what we have planned for NFTb Gaming and NFTb Stars. And a couple of surprises in November/December.
Free-Ask from KuCoin Community
Q: Will NFTb follow the trend of NFT in other networks such as SOL, LUNA, MATIC, and others? And are you going to launch the game? Can you tell the high level for the NFTb project?
Tommy: That's a great question.
Our focus is to build a user-centered platform. Part of this is to enable owners of NFTs with access to greater market liquidity. This is why we partnered with Binance NFT to enable this.
We are building NFTb natively on a few other blockchain ecosystems.
NFTb won't be having its own game. Instead, we're launching NFTb Gaming which is created to help GameFi projects thrive. We are working with a few GameFi projects to integrate the $NFTB token.
Q: Who is the main competitor of NFTb? What are your strategies to face competition?
Tommy: NFTb offers many solutions: an NFT marketplace, a DeFi platform, and a launchpad.
In that sense, OpenSea, BakerSwap, and Polkastarter are all competitors.
However, nobody has taken a community-driven approach to unlocking the value of DeFi like NFTb has. We are actively differentiating ourselves and creating our own category.
Q: Metaverse projects are on the agenda these days. Does NFTb have a project about the metaverse?
Tommy: NFTb currently is not a metaverse project. However, we have partnerships with both Netvrk and Division Network to enable the use of NFTs in the metaverse.
We are excited to see metaverse projects thrive as this adds value to all the NFTs that NFTb offers!
Q: Do we need to hold NFTB to take part in the launchpad?
Tommy: Yes, NFTb offers a tiered staking model where, if you stake NFTB, you are eligible to participate in NFTb's launchpad. The more you stake, the more you can participate in IDOs and INOs.
Q: NFT is gaining a lot of popularity and growing rapidly. But individual artists and promising new NFT projects still don't get the attention they deserve. What can NFTb do for them? What are the benefits you provide for them to be successful?
Tommy: That is a problem that many NFT marketplaces are facing! We are trying to rebuild our platform experience so more NFTs can be shown and highlighted.
The explosion in interest in NFTs has exceeded the dev of good user experiences on many platforms.
Q: Is there anything else you would like to share or you want us to know?
Tommy: Thanks to everyone that tuned in today! We are so glad to be now part of the KuCoin community.
If you liked what you saw, come join us:
KuCoin and NFTb have prepared a total of 4,000 NFTB to give away to AMA participants.
1. Free-ask section: 150 NFTB
2. AMA activity: 3,850 NFTB
Activity 1 — Quiz: 3,000 NFTB
Activity 2 — Price Guess: 600 NFTB
Participation Rewards: 250 NFTB
. . .
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