NFTmall AMA

we hosted an amazing AMA with NFTmall on the 1st of October

And here we will put some of the best questions:

Q1. Can you introduce yourself to our community?

Hello everyone, glad to be here and I would like to introduce myself, my name is MD Rakib Ahamed, CEO & Founder of NFTmall, I am a PGD in International Business Administration, from Anglia Ruskin University, Cambridge. I have experience in Economics, Business Administration & Management, and passionate about blockchain research and development. I am also a Blockchain & Cryptography enthusiast and a dedicated supporter, I have been an Advisor, Marketing Director and investor previously for Blockchain based projects and my passion for Blockchain & Technology along with my Business expertise motivates me come up with a Crypto start-up call NFTmall

Q2. Can you briefly tell us what is NFTmall ?

Description: www.nftmall.io
NFTmall OÜ
Reg: 16261145
Address: Tornimäe Tallinn, Estonia.

What is NFTmall (GEM)?

NFTmall – is the World’s first Creator centric, Defi & eCommerce powered, Multichain & Standard support Physically redeemable NFTmarketplace.

At the NFTmall, we are creating a Universal ground for various talented artists who can showcase their talent and thus also bridging the gap between Mainstream and niche digital artists. To do so, we offer to our users a super sleek, super easy user interface, state of the art, decentralised, creator centric, cost-efficient, Defi & E-commerce powered, Multi chain & standard support, Universal marketplace. Our marketplace also includes time demanding features like Physically redeemable NFT and futuristic features like NFTmall 3D. We deeply considered different parameters, barriers of entry and limitations of the current Centralised and Decentralised NFT Marketplaces and came up with the solution “ NFTmall.”

Is NFTmall live yet?

Since NFTmall is working on a vast concept to revolutionise NFT Metaverse, www.nftmall.io is constantly updated with new features and different opportunities. Currently, on 29th July 2021, we launched our Mainnet on BSC, and As Multichain interoperable NFTmarketplace, soon other chains to be added.
Currently, NFTmalls AR & Physical NFT verification mobile App on TestFlight both App & Play store.

What’s GEM Tokenomics?

  • Token Info
    Symbol: GEM
    Max Supply: 20 million (deflationary, 10% of the platform is used to buyback and burn)
  • Token Distribution
    5%: Private Sale
    15%: Public Sale
    5%: Exchange Liquidity
    2%: Liquidity Mining
    30%: Marketplace Mining
    15%: Marketing & Educational Program
    5%: Technical Bounty & Hackathon
    5%: Strategic Partnerships
    8%: Team & Advisors
    10%: Foundational Reserve

Investor Pitch Deck:
https://nftmall.docsend.com/view/hv7mx4savkksnqb7

White Paper:
https://nftmall.docsend.com/view/aqitrk9vsfhbahe8

Feature comparison with leading NFT marketplaces:
https://www.notion.so/nftmall/NFTmall-vs-Leading-NFT-Marketplaces-dd20600dfe924c40b5f220bfed7969c2

Audit from CertiK:
https://www.certik.org/projects/nftmall

GEM 💎 Contract

https://bscscan.com/token/0xBaC1df744df160877cDc45E13d0394c06bC388Ff

Our key advantages over the leading NFT marketplaces.

  1. Our marketplace has the lowest fee in the industry! Zero Platform fees to Min NFTs for Creator/Artists and only 2% lowest in the Market for Primary & Secondary sales and only 1% if GEM been used as currency to pay!
  2. Platform fee-sharing & token burning
    60% of the Platform fees is used to distribute to $GEM Stakers, 30% Goes to the Treasury for Project Development, Marketing expenses and other cost involved, 10% is used buyback $GEM and burn.
  3. We are creator-centric
    We don’t charge fees from creators (who mainly mints NFTs)
    Instead, we incentivize creators for minting activity through Marketplace Mining
  4. We are Multichain Marketplace and on BSC, so the gas fee is very cheap
    The majority of creators can’t afford crazy gas fees on Ethereum
  5. Staking
    GEM Stakers receive exclusive benefits like
  • Platform fee sharing
  • Reward in other partnered Project Tokens, currently, $GEM – $BNB LP provider has the opportunity to Stake GEM-BNB LP on one of our many Partnered Farming Project platform and getting rewarded with their Project token. this farm works as Early Farm High APR basis, Stake GEM-BNB LP tokens, earn GEM 💎, BUFF, OLIVE, EROS, FLAT and many more to come! you take on a little more exposure to market fluctuations than with the GEM staking pools but can earn a much higher APR to offset the risk.
  • $GEM Staker has the opportunity to choose to stake in different pools for a different specific periods of time and choice of Tokens to get rewarded with lucrative APR! Currently, GEM staker has the choice to get rewarded with either $GEM or $BLAST (one of our recent partnered project tokens), many more to be added soon. All Stakers will also receive BNB reward on top from our marketplace fee-sharing!
  • Access to exclusive NFT drops
  • Higher rank in the search results of our platform. via our Smart Sorting Engine
  1. On our Marketplace NFTs can be Minted digitally and also can be redeemed into physical assets.This is a brand new concept in the market and we are the very first in space to provide these opportunities to every user and thus we are bringing mass Physical redemption of NFTs through our Marketplace! At present, NFTmarketplaces only offer Digital NFT and cant be redeemed Physically! On NFTmall Digital versions of NFTs can be Minted and Traded along with the opportunity to redeem it Physically on Canvases, frame canvases, Digital frames, clothing etc.
    Physical redemption of NFT is going live very soon, currently, I am in touch with a massive supplier in the industry who has experience in ART Print industry for over 100 years and has facility all around the world and can ship all over the world, currently, I am in the process of receiving sample and test if everything is fine we are fixing them and mass NFT Physical redemption is going live quite soon.
  2. Community-based content curation
    None of the existing marketplaces couldn’t solve the issue of selling fake, stolen, copyright infringed artwork.
    We solve this in an innovative way so all NFTs on our marketplace are authentic and unique.
    Buyers can buy with confidence.
  3. Affiliate program
    Anyone can monetise their social network by promoting our NFT for affiliate commission.
    So creators can focus on content creation instead of marketing.
  4. Using GEM as payment currency
    NFTmall marketplaces’ primary currency is $GEM and others are also supported like BNB or ETH upon integration.
    If the buyer pays in GEM instead of any other coin, there will be a discount on fees. from 2% to 1%
    (similar concept of how BNB works in binance)
  5. GEM based Homepage advertisement auction system.

There will be different “Slots” on our homepage where nfts are featured.
We provide an auction system for users who want to promote their NFTs by paying GEM.
Winners of the weekly auction have the freedom to list one of their NFT in each slot.
Advertisement fees will be distributed to stakers, Buyback & burn GEM & sent to Treasury Fund that will be used for future development & expenses.

Q3. Let’s now talk about the milestones you have achieved so far and about your upcoming plans?

Milestones Achieved:

  • we have successfully finished the presale rounds and listed on pancakeswap & LA token on 8th June later on Bilaxy exchange.
  • We have successfully launch test net on BSC & Polygon network.
  • We have gone to Main net LIVE recently on BSC and soon to be integrated on other chains like Avalanche,Polygon,ethereum etc. https://www.nftmall.io/
  • We have also successfully launched NFTmall mobile AR & Physical NFT verification app Testflight both on the app and play store. Update on - NFTmall AR App
  • Additional features have been added to NFTmalls AR App incuding
  • Different NFT Frames.
  • Different sizes to choose.
  • Digital frame which supports video format of NFTs for Physical redemption.
  • Minor Bug fixed.
  • https://youtu.be/7Y8AF3cJZGM
  • Recently we introduced NFTmallv2 the most recent Updated version of NFTmall marketplace with Beautiful great new design and fresh look. https://app.nftmall.io/
  • Since our NFTmallv2 launch we have been constantly improving and enabling different features of the marketplace. Recently we have enabled the NFT Bidding feature.
  • We have also launched the $GEM Staking & Yield farming platform powered by the Ferrum network. https://www.nftmall.io/stake
  • Reward in other partnered Project Tokens, currently, $GEM – $BNB LP provider has the opportunity to Stake GEM-BNB LP on one of our many Partnered Farming Project platforms and getting rewarded with their Project token. This farm works as Early Farm High APR basis,Stake GEM-BNB LP tokens, Earn GEM 💎, BUFF, OLIVE, EROS, FLAT and many more to come! you take on a little more exposure to market fluctuations then with the GEM staking pools but can earn a much higher APR to offset the risk.
  • We have also launched Staking pool across the platforms and currently $GEM stakers can also stake $GEM at https://www.blastoff.finance/farms and rewarded in $BLAST

Upcoming plans and updates:

  • Since my vision includes Mass NFT Physical redemption, on NFTmall NFTs can be Minted digitally and also can be redeemed into physical assets.This is a brand new concept in the market and we are the very first in space to provide these opportunities to every user and thus we are bringing mass Physical redemption of NFTs through our Marketplace! At present, NFTmarketplaces only offer Digital NFT and cant be redeemed Physically! On NFTmall Digital versions of NFTs can be Minted and Traded along with the opportunity to redeem it Physically on Canvases, frame canvases, Digital frames, clothing etc.
  • Physical redemption of NFT is going live very soon, currently, I am in touch with a massive supplier in the industry who has experience in ART Print industry for over 100 years and has facility all around the world and can ship all over the world, currently, I am in the process of receiving sample and test if everything is fine we are fixing them and mass NFT Physical redemption is going live quite soon.
  • NFTmall marketplace will also support ERC1155 quite soon, beginning next month.
  • Currently we are LIVE on BSC and are currently working on integrating with other chains like Avalanche, Polygon, Ethereum etc. and soon will integrate with one of those chains and the rest will follow in coming days and months.
  • We are also working on Partnerships to launch Farms and pools across the many more other platforms and listing NFTs of different projects and launch NFTprojects on NFTmall.
  • We are also working on the Founder NFT ATM and will be launched quite soon.
  • https://nftmall.medium.com/introducing-nftmall-founder-nft-fd741735c5f7
  • Our Mid term plan also includes offering fractional ownership of NFTs, Lending, Browning etc.
    We also look forward to launching our very own IDO platform called NFTPAD. and NFTmall 3D is due early next year. A Decentraland inspired virtual marketplace for various types of dedicated 3D virtual stores like ART, gaming items, collectable card NFTs, audio NFTs, rare NFTs, physical NFTs, 3D NFT, etc.

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?

Company History / Background:
The initial concept and idea of NFTmall have developed some time ago in Mid 2020, as I have been a crypto investor and researcher and was researching existing NFTmarketplaces and their limitations. I came to realise that monopolies and international entities were taking advantage of creators/Artists for many years by creating a huge barrier of entry! For example, traditionally, Artists have to physically produce a piece of artwork, get it accepted by a gallery,promote the exhibition and sell it. Also, in the case of a verification test, the authenticity of an Art is determined by an Art expert panel by carrying out costly tests! This complex process involves a considerable barrier of entry and hinders creativity; as a result, creators often don’t get enough exposure and have to market their work instead of focusing on creation.
The traditional approach hinders creators, but it also hinders creativity in general since younger artists may not afford the entry requirement to use the various platforms. This problem can be overcome using blockchain technology to synergise Defi and NFTs since It simplifies ART creation in NFTs and logs entry of an ART piece/ NFT in the blockchain, which cant be counterfeit and rewards relatively. It affords artists or creators alike the chance to create and earn royalties in perpetuity. And thus create a level playing field for talented individuals. Since it’s a very new concept and the market for digital items starts to generate. Existing top tier digital items / NFT marketplaces do not fully satisfy the needs of their users. They do not solve the issue by having high platform fees to mint or list, Primary and secondary sells, even royalty fees for creators are not independent usually chosen by Marketplace! Also, most of them are not decentralised and require a KYC process, application, and permission. More importantly, none of them offers or Provides a solution to the Physical redemption of NFTs or Vice versa! Thus, they act as a monopoly for users and possess a high barrier of entry and fail to create a fair & level playing field for their users (creators, collectors and traders).
“ By deeply considering the limitations of existing marketplaces, I was stirring at the market gap and had to pick up the challenge to provide a solution which I called NFTmall.”

“ NFTmall is the answer to the existing limitations of the Traditional Art gallery and NFT marketplaces. It is the world first Creator centric, Defi & E-commerce powered, Multi-chain & standard support, Physically redeemable NFT marketplace.”

Team:
Teams are important because they can accomplish much more than any of the members could achieve individually. The team that functions effectively and efficiently brings together a diverse range of characters, skills, and talents, and is able to realise large, complex projects
I understand the power of team and teamwork, and continuously working on building an efficient, hardworking, talented, passionate team, Team NFTmall.
So far, Team NFTmall consists of 14 different individuals including four core members including engineer and developer.
Our team member profiles and socials can be found on NFTmalls website: https://nftmall.io/team
I am also currently onboarding different individuals, developers, Advisors and Artists. And one of my most recent onboarding is Mr. Tony Ignatious as Director of Creative Arts he is also a Premium Badge Holder Artist.

Bio: Tony Ignatious is a self-taught visual artist and art director who lives and works in Kerala, India. His creations reflect his vision of the future and his wonder of what lies beyond what we know. He has worked with numerous film and TV productions including the Indian Film Project, TED events while also being an active member in the NFT community making his own pieces while also working with leading NFT collectible projects.

Website: https://www.thelonetusker.com

Instagram: www.instagram.com/the.lone.tusker

Twitter: https://twitter.com/thelonetusker?s=21

Q5. DeFi is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on DeFi with us? Do you think DeFi will disrupt the current financial system? What is NFTmall’s approach to the DeFi sector?

Opinion on Defi: Traditional finance system is broken and its proven, we‘ve come to realise the need to create a system that is not based on powerful intermediaries.
Governments took the right to print money and introduced themselves as intermediaries between two parties of trade through the creation of central banks.
As you may know, printing more money makes goods more expensive, but does not change the quantity or quality of goods. If everything is more expensive, you are not any better off, even if your wages increase.
On the flip side, rare assets like gold, rare art and these days Bitcoin become more valuable.
Easy monetary policy and high inflation are two of the leading causes of money depreciation.
There is no need to accuse a specific organisation or group however, due to negligence of duty or maladministration of the central banks and intermediaries who continue to control money, the world has recently experienced severe financial crises. Factories and companies went bankrupt and many people were fired and lost their jobs.

Financial crises have caused people to lose confidence in traditional financial systems. People are waking up to the benefits of an unmediated financial system. – The invention of Bitcoin was one of the first step towards achieving this goal.
With the advent of Bitcoin and cryptocurrencies, finance has entered a new phase. There have been some dramatic changes however, it still cannot be considered as a decentralized finance. Most crypto financial transactions and services are made through centralized exchanges.
To some extent, not much; decentralization can quickly lose its meaning when an intermediary organization plays a large role in a decentralized finance system.
DeFi is a fast-growing sector of the cryptocurrency industry, consisting of thousands of projects on several different blockchains. Most traditional financial services can be facilitated through DeFi but without the interference of a third party like Banks or any other non-banking financial institutions. Eliminating intermediaries is the most prominent feature of DeFi.
This is the new generation of financing.
Where Defi shines:1. Decentralized exchanges (DEX)
Online trading services based on smart contracts. DEXes enable users to perform token exchanges and trading without intermediaries.

  1. Automated Market Maker (AMM)
    AMMs are the same as DEXes with an important difference. DEX platforms use order books (which contains P2P orders) for pricing, while an AMM platform uses a special mathematical formula to price assets, and the liquidity comes from liquidity providers, who usually earn tokens as a reward, rather than needing people to be on both sides of each trade.
  2. Lending
    The crypto loan business is definitely an attractive alternative for many people. Lenders receive interest payments while borrowers gain access to capital. With DeFi, borrowers can use their funds as collateral and borrow without a credit score.
  3. Staking
    Some blockchains are based on proof-of-work (PoW) like Bitcoin and some other are based on proof of stake(PoS). Staking is a type of activity in which you are rewarded by locking your assets in a PoS based network, in exchanged for providing security and confirming the transactions of a blockchain network.
  4. Non-Fungible Token (NFT)
    NFTs are a new phenomenon in the crypto space which has many uses like identification, arts(digital ownership),gaming, collectibles, sports, media & entertainments, real estate, etc.
  5. No-Loss Games and Lotteries:
    Games and lotteries are another attractive service that are a part of the DeFi space. So called, ‘No-loss’ lotteries seem to be risk-free. In this type of lottery participants get their money back and one lucky participant wins all the profit that has accrued in the shared pot and all these processes are done without intermediaries, just using smart contracts in DeFi space.
    Although there are tons of benefits and Advantages of Defi but still at current state Defi is still experimental and has some limitation to overcome,like
  6. Uncertaintity
    If the blockchain that hosts a DeFi project is unstable, the project spontaneously inherits this instability from the host blockchain. The Ethereum blockchain is still undergoing plenty of changes, for example mistakes made when moving from PoW to new Eth 2.0 PoS system could introduce new risks to DeFi projects.
  7. Scalability
    Another big problem with DeFi projects is scalability of the host blockchain.
    Two major problems arise from the scalability problem:
    a) transactions take a long time to be confirmed b) transaction are extremely expensive at times of congestion
    Ethereum at full capacity, can process about 13 transactions per second, while centralized counterparts can process thousands and thousands of transactions.
  8. Smart Contract Problems
    Smart contract vulnerability is a major source of issues for many DeFi projects. If there is the slightest flaw in the code of a smart contract, it can lead to loss of funds.
  9. Low Liquidity
    Liquidity can be considered as one of the most important factors for DeFi token-based projects and blockchain protocols. The total value locked in DeFi is over $12.5 billion by october 2020. This is a drop in the ocean when compared to the traditional financial systems.
  10. Over-collateralization
    As we previuosly said the crypto loan business is an attractive service in DeFi. But this business suffers from over-collateralization and it occurs when the value of the staked asset (by borrower) is prohibitively high when compared to the loan amount itself. DeFi projects have high collateralization in order to counter the removal of obstacles such as credit ratings.
  11. Low Interoperability
    There are different types of blockchains such as Bitcoin, Ethereum, Binance Smart Chain, each with its own DeFi ecosystem and community. Interoperability enables DeFi platforms, tools, DApps and smart contracts on different blockchains to interact with each other. Until this becomes simpler, many projects are siloed.
  12. Lack of Insurance
    Insurance protects investors in the event of hacks or other fraudulent activities. Insurance plays a very important role in centralized finance while it is much more rare in DeFi.
  13. Centralization
    Creating a decentralized finance is the main purpose of creating bitcoin and blockchain, but sometimes decentralized finance isn’t as decentralized as it should be. Decentralization greatly reduces the possibility of scam.
    “Sushiswap” was a DeFi project. The anonymous founder of Sushiswap has rug pulled the project converting all of his Sushi tokens to ETH on September 5, 2020. The price of SUSHI token went up in value to $10 after forked from the Uniswap protocol, and dropped to $0.6. This was an example of how a single point of failure is possible even within DeFi.
  14. Your Responsibility
    Assuming that DeFi is free of risks and issues, it’s still not responsible for your mistakes. DeFi transfers responsibility from intermediaries to users. If you lose your funds by mistake no one will be responsible, hence, creating some tools to prevent human errors and mistakes is strongly needed in the DeFi space. With freedom comes a lot of responsibility, and many users are not used to having to take care of themselves in this way; which can lead to them losing funds or being scammed.

NFTmalls approach on Defi:

As you know, NFTmall is the world’s first Creator centric, Defi & ecommerce powered,cross-chain and standard support Physically redeemable NFTmarketplace.
We realised the power and potential of Defi as well as NFTs to disrupt the current financial system or I would say modify it for better for safeguarding users’ interest and incentivise them fairly.
NFTmalls native token $GEM tokenomics was developed carefully considering factors like, supply and demand curve,utilities and different use cases within and across different Ecosystems.At one stage of our project we aim to provide fullstack Defi solutions but for now,
NFTmall already offers Defi functionality like:
Staking
Yield farming

Soon we also want to take this stream to NFTs and are currently working on and aim to provide solutions like Fractional NFTs, Lending and browning! By early next year if not early!
And more importantly we are a fully doxxed team which is very important and needed in the Defi sector currently to give the users a sense of security and to avoid a single point of failure.

And here we will put best questions from our members and NFTmall fans:

Q1) What is your most ambitious goal from the NFTmall project? We would really appreciate it if you could share with us the Upcoming Updates?

Thank you very much for your question, NFTmalls mission and vision is to include non Crypto Savvy people in Crypto industry and take NFT and its tech to masses which can lead to and unlock so many other benefits can be explored within NFTs and utilising its tech and authentication process. one of my mission includes mass NFT materialisation, to do so we are facilitating mass NFT physical redemption through our platform https://app.nftmall.io/ soon any NFTs can be materialise in Physical objects. currently, I am in touch with a massive supplier in the industry who has experience in ART Print industry for over 100 years and has facility all around the world and can ship all over the world, currently, I am in the process of receiving sample and test if everything is fine we are fixing them and mass NFT Physical redemption is going live quite soon.
Also currently we are working on NFTmall 3D, which is due early next year according to our Road Map. A Decentraland inspired virtual marketplace for various types of dedicated 3D virtual stores like ART, gaming items, collectable card NFTs, audio NFTs, rare NFTs, physical NFTs, 3D NFT, etc. Premium verified Badge holders NFTs will be showcased on these different categorised dedicated stores. Also, third-party individuals or companies will or can have the opportunity to build and trade their brand-named dedicated store to display their NFTs on NFTmall3D Virtual Marketplace). Users create, explore and trade in the first-ever virtual 3D Marketplace owned by its users. Users will be able to immerse themselves in NFTmall 3D with Avatars and will be able to roam around in different stores, make purchases of NFTs displayed on those stores. Such futuristic 3D marketplaces come with so many benefits. Usually, NFTmarketplaces are filled with all different types and sources of NFTs. Among the ocean of this NFT, it’s often hard to find good quality exclusive NFTs unless it was created by popular or renowned artists. Thus the creation of new talented artists often stays hidden in the ocean full of NFTs and seeks its much-needed exposure, same applies to so many existing and new upcoming NFT projects on space there NFTs also seek attention and exposure. On NFTmall 3D any individual or any Third-party company can create their own Branded store and display & trade their NFTs. Having dedicated 3D virtual stores like ART, Gaming items, Collectable card NFTs, Audio NFTs, Rare NFTs, Physical NFTs, 3D NFT, etc. will also help collectors to find their desired digital items segmented in different categories. Which will make the digital items industry more fun and interesting.

Upcoming plans and updates:

  • Since our vision includes Mass NFT Physical redemption, on NFTmall NFTs can be Minted digitally and also can be redeemed into physical assets.This is a brand new concept in the market and we are the very first in space to provide these opportunities to every user and thus we are bringing mass Physical redemption of NFTs through our Marketplace! At present, NFTmarketplaces only offer Digital NFT and cant be redeemed Physically! On NFTmall Digital versions of NFTs can be Minted and Traded along with the opportunity to redeem it Physically on Canvases, frame canvases, Digital frames, clothing etc.
  • Physical redemption of NFT is going live very soon,currently, I am in touch with a massive supplier in the industry who has experience in ART Print industry for over 100 years and has facility all around the world and can ship all over the world, currently, I am in the process of receiving sample and test if everything is fine we are fixing them and mass NFT Physical redemption is going live quite soon.
  • NFTmall marketplace will also support ERC1155 quite soon, beginning next month.
  • Currently we are LIVE on BSC and are currently working on integrating with other chains like Avalanche, Polygon, Ethereum etc. and soon will integrate with one of those chains and the rest will follow in coming days and months.
  • We are also working on Partnerships to launch Farms and pools across the many more other platforms and listing NFTs of different projects and launch NFTprojects on NFTmall.
    We are also working on the Founder NFT ATM and will be launched quite soon.
  • https://nftmall.medium.com/introducing-nftmall-founder-nft-fd741735c5f7
  • Our Mid term plan also includes offering fractional ownership of NFTs, Lending, Browning etc.
  • We also look forward to launching our very own IDO platform called NFTPAD.

Q2) Many people still don’t have much idea of how NFTs work and how to acquire them, is #NFTmall beginner-friendly in the world of NFTs? Do we have to have advanced knowledge/ is #NFTmall intuitive enough for inexperienced users?

yes you are very right saying this, since its very new tech and non crypto savvy people does not understand much its tech and possibility yet! and NFTmalls mission and vision is to include masses into NFT and to do so, we have carried out in depth research and analysis to make NFTmall as user friendly as possible and our most recent updated version NFTmallv2 does just that! it comes with a beautiful great design , fresh look and super easy user interface to Create, buy or sell NFTs at most cheapest rate in the industry, Thanks to NFTmall , creation of NFTs now can be less than a dollar cost! we do so by being on BSC using cheapest gas cost and Zero platform fees for minting NFTs, https://app.nftmall.io/. It also provides opportunity to Materialise any NFT into physical form and vice versa which is due go live very soon. so we built our platform in such a way so that most novice users can operate and understand its features and what it has to offer. we are also taking initiative to educating peoples in NFT and crypto in general and we aim to do that through Partnership with third party providers in such relative to field they operate on.

Q3) What role does community play at NFTmall? What have you done and will do to attract people to join NFTmall and build thriving community?And what do you think of a virtual reality NFT, DeFi services, and cross-platform compatibility?Can all of these be combined into one ecosystem?

Community plays a very important role in success of any project, people invest in a project which they believed in, in its mission and vision. they also support the project by advertising/shilling in different mediums, word of mouth, in different crypto groups, writing Article or create video etc. by doing so they also helps their investment and incorporates into a shared mission and vision. we have taken numerous action to energise and engaseing community in to different activity like MEME competition, Quiz , raffles etc. and planned to engaese more in coming days through NFT competition, running educational program and rewarding them for their activity. I clearly understand the power of masses therefore community is one of the biggest and important factor for any project success or price appreciation of Token.

And what do I think of a virtual reality NFT, DeFi services, and cross-platform compatibility?Can all of these be combined into one ecosystem? answer to that question is quite simple and “NFTmall is the answer to the limitations of Current traditional ART gallery & NFTmarketplaces, It is the world first Creator centric, Defi & E-commerce powered, Multichain & standard support, Physically redeemable NFT marketplace with futuristic features like NFTmall 3D.
I highy recommend read of this Article of mine, https://nftmall.medium.com/introducing-nftmall-where-nft-meets-defi-and-ecommerce-507fa8319544

Q4) Binance smart Chain blockchain is having high transaction speed and cheap gas fees, Are you planning to launch your mainet or switch to other blockchains in the future?

Absolutely, we recognised the high tx speed and cheap Gas fees Binance ecosystem has to offer and we utilised that opportunity and $GEM 💎 NFTmalls native token is a BEP20 token and built on Binance smart chain, hence we are cross chained and multi standard support marketplace, thus we reduced Huge barrier of entry and minimised it close to zero by offering Zero platform fees for Creator/artist or Mint any NFTs and low Gas fees of BSC chain facilitate this process and Minting an NFT is not a big deal anymore and any person can take this opportunity by minting an NFT less than a dollar cost! thus we encourage creativity which always been our top priority, talented newcomer Artists in general by providing them with a level playing ground. we are currently live on Binance smart chain Mainnet and soon to be integrated on other chains like Avalanche, polygon, ethereum etc. since we want to provide materialisation of NFTs regardless of chains.

Q5) I read that #NFTmall has launched the #NFTmall Bounty program to identify critical bugs and vulnerabilities. But if they have been audited by CERTIK, by offering this, does that mean the audit reveals that contracts and protocols pose a risk?

we take security of our contracts as main priority to secure our community and investors, we are audited by Certik foundation on of the best in the market, https://www.certik.org/projects/nftmall the audit shows how secure the contracts are but does not fully eliminate the external risk or it cant be since no body can control that situation. to provide extra and best possible layer of security for our Users and investors ,we also got Bug bounty programme live to scrutiny any potential risk and 5% of the token is dedicated to reward Bug bounty program and any white collar hackers to find the vulnerability https://www.nftmall.io/security This can help to find and solve or take protection against any potential unknown or unnoticed risk and gives a sense of security among users and mainly investors.

If you have any other questions you can ask here:

ℹ️ℹ️ Useful links ℹ️ℹ️

Website :- https://nftmall.io/

Medium :- https://medium.com/@nftmall

Twitter :- https://twitter.com/NFTmall

Linked :- https://www.linkedin.com/company/nftmall

Reddit :- https://www.reddit.com/user/NFTmallOfficial

Discord :- https://discord.com/invite/SG4GGYMXvJ

Facebook :- https://www.facebook.com/NFTmall-101972288642593

YouTube :- https://www.youtube.com/channel/UCF563MOQhJYfWgW1L9TDEHQ

Instagram :- https://instagram.com/nftmall?igshid=19rw5m3uq46td