we hosted an amazing AMA with Avatu on the 23rd of February
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as Avatu ?
My name is Paul Angerame
I’m the founder and CEO of AVATU
My background has been working as an Energy and Telecom Infrastructure Executive of multiple energy infrastructure enterprises ranging from a $35MUSD start up that was successfully sold to running Project operations at a $400M operating unit of a publicly traded company.
First, let me start by saying thank you to you and to your amazing community. I really appreciate everyone who is here today or who may read this session in the future.
My team and advisors are Infrastructure and Blockchain experts with engineering and business knowledge capable of guiding AVATU as we rocket forward!
Avatu is a blockchain based based energy company focused on solving the transition to renewable energy by providing grid support through distributed energy storage
We are beginning an exciting journey together and i cant wait to tell you more! Thank you! DONE
Q2. What are the advantages of Your project ?
I think the main advantage is that we are combining energy, blockchain, IoT and Token mining to create one of the most exciting projects ever. We are also helping to solve the real world problem of how to transition to renewable energy while helping to mitigate the issues confronting the electrical grid infrastructure globally. Its a very collaborative and transparent program and one where we will involve the whole community!
Its the power of community working together to solve a real world issue.
Q3. please tell us about the goal you want to achieve in this year.
This year we will continue to expand our team, complete fabrication of production level prototypes and begin accepting pre-orders of the first 5000 Avatu’s Magic Box, the groundbreaking product at the heart of our project and launch $AVATU!
We will continue to make new and bold announcements as we continue to advance our project based on a sound business model.
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Very happy to answer this question! We have been incubating this project through multiple iterations for the bast 4 years.
The story is all about how to protect the electrical energy grid and help to mitigate the climate crisis by providing a path to renewable energy. All while empowering our users to participate individually but have a tangible collective impact on the future of energy.
We intend to Decentralise, Democratise and Decarbonize the electrical grid by creating the “People’s Utility”.
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
We are a global team of electrical, blockchain and product engineers as well as marketing and project management experts, with team members from Asia, the Middle East, Europe and North America
Although we are focused on $AVATU as our project we are considering a Utility NFT that will allow holders advanced access to the first run of Magic Boxes and possibly some special edition devices that will be theme oriented and or collaborations with our favourite artists, partners and causes.
NFT’s are a store of value that will continue to grow with the most successful projects building strong communities, increasing holder value and growing utility.
And here we will put best questions from our members and Avatu fans:
Q1) What makes the Avatu ecosystem valuable? How do they manage to scale with global demand with their grid and be able to function anywhere electricity is generated and consumed? How will you improve demand-driven power requirements at any point in time?
The issues of the existing power grid are local but the issues impacting electrical grids everywhere is a global challenge.
and get a little deeper into what AVATU is about
The Avatu Magic boxes will be hosted by individuals around the world. The uses will vary depending on the location. The grid connected IoT device is a decentralized Magic box that can be used in a load zone as an aggregated energy asset on the Avatu platform.
The platform or “power bank” can be used as a demand response asset, time of use grid stabilizing asset, energy arbitrage and community and local resilience. The host will then be rewarded through the PoP (Proof of Power Algorithm) with the utility token $AVATU.
The Magic Box is versatile and adaptive to the needs of a particular geography.
At Avatu we see the benefits of the platform in any grid environment
and at any stage of the grids development in a particular location
Q2) You say Magic Box owners will derive a consistent revenue stream from their deployment, while at the same time, contributing to the needs of a municipal or regional power grid. Can you talk about the revenue that Magic Box generates? Will it be infinite or will there be a limit?
Like any asset the value of $AVATU will be subject to the market. The strong utility component, we believe, will add robustness to the project. All Magic Box hosts will be rewarded through proof of availability and PoP algorithms that will be transparent and consistent.
The future is bright and the need is great AVATU can be an important piece of the electrical energy future.
Q3) Non-crypto user is very important for mainstream adoption.
How you are planning to attract non-crypto users towards your project?
Is there any upcoming partnership that will brings non-crypto user and real-use case?
We are looking to create a platform that is profitable as well as supporting the planet as we transition to a more renewable future!
Anyone interested in energy, the environment and the climate crisis will be a potential candidate to become an early adopter of the magic box and holder of the native coin $AVATU.
I think the fact that we are addressing a real world issue will instantly bring in aspirational community members.
I also we have seen the success of Helium and HNT and I think the same forces that drove that success will drive ours at AVATU!
Q4) I found that with Magic Box it allows its owner to do energy mining to earn tokens. Can you talk about the processes and features that make Magic Box profitable for owners? In what ways will the Magic Box harness energy? Does Magic Box work as a miner?
The mining component will be related to the Proof of Availability and Proof of Power algorithm. These will determine the rewards for hosting the Magic Box ….Mining the $AVATU token.
Q5) Avatu works with three main products: The Magic Box, $AVATU Token and AVATUC Chain. My question is, what are the functionalities that each of these pillars of Avatu fulfill and how does this combination redefine the way users interact with the power grid?
The Magic Box is the real world IoT device that is connected to the local grid through a standard plug connection. It is by making this device available to the AVATU platform that hosts earn $AVATU based on the transparent algorithm. $AVATU is the native utility token of the platform. Avatu Chain is the transactive energy ecosystem. The Magic Box is the beginning the future is AVATU as the platform for all energy related!
The future is Avatu as the platform for all interactive energy related transactions like EV charging and smart electrical infrastructure.
Wow, those were really good questions. Please also look at avatu.io for more details.
Q6) What is Avatu long-term development plan? How do you make users believe that Avatu is a long-term high-quality project?
Please visit avatu.io we have been incubating this idea for years. We believe the impact will be long lasting as the grid transitions to renewable energy and as blockchain adoption in the real world continues. AVATU is a global project that has momentum and longevity as core principles.
Q7) We know the importance of community support for the growth of a project. How does Avatu bond with its community supporters, and how will we contribute to your growth?
I think this is a really important question. Community is the foundation of any projects success. We want involvement and feedback from the community because we know it will only help the advancement of our brand and platform. Thank you and please be in touch and stay involved!
Q8) The DeFi space is very young and changing rapidly. I have a question: how flexible is Avatu design and tools for adapting to changes in the Decentralized Finance ?
Defi and Web 3 are revolutionary concepts that AVATU embraces. Our transactional energy platform will include a web 3 interface. The decentralized democratized energy world is where we are heading and we look forward to building it with you!!!!!❤️❤️
Q9) Do you have audit certificates? Are you auditing your project, becoming the security of that project? Please tell me sir
Hello, This is similar to many others. So I will answer this one. YES, we have a team of blockchain engineers and the project will be audited and transparent. We are here to make a difference in the world and be a positive contributor to the environment while desiring our brand to grow and benefit our users and supporters in a meaningful way. Thank you!!!!!!
Q10) I am an investor. I want to invest in your project, how do I do?
Lots of people are interested in the project. There are many questions related to this. To be clear we are at the informational stage building community and awareness. My suggestion is to continue to watch our socials for up to date information on product release and other important details!
And this was the end of our AMA with Avatu.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://avatu.io/
Medium :- https://medium.com/@avatu_io
Twitter :- https://twitter.com/Avatu_io