we hosted an amazing AMA with SPORES on the 19th of July
And here we will put some of the best questions:
Q1) Can you please introduce yourself as well as SPORES ?
I come from an edtech, proptech, and marketplace POV: I built and sold an Edtech startup in Hong Kong, sold it to Bain Capital Private Equity China and then took the parent company public on Nasdaq in 2017 for over $1 billion valuation. I spent the next two years as Chief Strategy Officer looking at Edtech M&A and incubation opportunities worldwide.
The last two years I moved back to my homeland of Vietnam to build the country. I served as COO of Propzy, a proptech play, where I helped raise $25 million from Softbank Ventures Asia, Gaw Capital, and Insignia Ventures. The company currently has over 20 stores in Vietnam. Soon I was poached by One Mount Group’s venture OneHousing to lead strategy and operations as COO, looking to scale another proptech play with backing by Vietnam’s top two billionaires of Real Estate and Banking. I’m a contributor writer for Vietcetera, TechinAsia, and keynote speaker in Edtech, Proptech, and now Crypto.
Q2) What are the advantages of Your project ?
Spores is an Asia-premier NFT marketplace with supported De-Fi & Interoperability Tools
Spores Network founders deeply believe that a digital “metaverse” is being built today that will revolutionize our thoughts and behavior with respect to living, owning, sharing our physical and digital lives. Spores seeks to empower creators to create, exchange, and communicate their life’s work.
We believe in a future that is creator centricity, frictionless, borderless, community driven and we want to be at the epicenter as an ecosystem with a marketplace, de-fi tools, and venture fund that seeks to create value through project funding and support for our community
An interoperable NFT Defi platform is the foundation of the future of digital “metaverse” that we envision, it allows for frictionless and borderless NFTs economies transaction to take place.
Spores Network explores the extensive nexus between NFTs and DeFi markets. It is necessary to show readers a deeper look at Spores NFT-DeFi model, which basically combines NFT marketplace and DEX. Spores targets to erase the barriers and frictions caused by blockchain technical issues, then help artists, designers, game developers efficiently monetize their works via DeFi space. Furthermore, Spores facilitates DeFi traders with financial gamification in the NFT space, then helps them to enjoy and earn from collectibles, game items, digital cards & other creative content. Spore’s DEX is specialized for the NFT market, roughly speaking, to provide the most optimized liquidity and financialization for all NFTs in accordance with the native governance/utility tokens of NFT platforms. Spores aims to build a marketplace with low and efficient fees (supported by a layer-2 scale solution) which seems now the biggest pain-point of NFT market.
We are focusing on 5 main verticals that you can find our website: spores.app
- Digital Arts
Within these 5 verticals we are working hard to bring amazing IPs and contents into the NFT space. Please stay tuned as there are many exciting announcements coming!
Gamified royalty sharing: Royalty sharing for NFT creators, incentives for users & traders with transaction mining
T-DeFi: Fractionalizing multiple NFTs, utilizing LP mining on DEXes, lending & staking, to improve overall liquidity
Batch minting & transfer: Bundles of NFTs can be minted and transferred with minimal fees
Cross-chain trading: NFT swaps & wrapping across major blockchains (Ethereum, BSC, Polkadot) — erasing market fragmentations
User friendly: Everyone can create NFTs without coding skills and trade without underlying blockchain knowledge
NFT drops: Free NFT drops from notable & exclusive creators to users and LPs.
Q3) please tell us about the goal you want to achieve in this year?
MVP Alpha (UI/UX): Spores have already completed its system architecture design, user flow, and part of the UI.
MVP Beta (Public): in development — projected to release in August 2021.
We have announced a new Chief Content Officer – Mr. Allen Dam. Allen is a veteran Hollywood producer that has over 20 years track records and extensive network in the entertainment industry. Allen is the executive producer of the upcoming major AAA movie titles including Expendable 4, Rambo 5 featuring Sylvester Stallone and Lamborghini the Legend featuring Alec Baldwin. With Allen onboard, we aim to bring major title content and IPs to the NFT world.
We also have many major partnerships that we have secured that we will be announcing in the coming days.
Q4) Every project has a story behind their name, Can you tell us more about the story?
Both me and Eric, my co-founder, share the vision of the future of the digital metaverse so think of The Matrix meet Ready Player One, we believe that will be the world 15-20 years from now people will spend a large part of their time in. And NFTs are simply digital ownership, a digital world needs digital ownership. All goods and services sold to us are essentially all selling “human experience”, that digital world for us is also human experience. As we live and spend more time in those digital worlds, digital ownership will be very important, and will be as important as owning physical houses or cars today. And that is how we both came together and founded Spores, we hope this is a small beginning for something much bigger. And in terms of passion and enthusiasm, I can tell you that everyday coming into work is fun and exciting for us, we work like 15-18 hours per day, I would not trade this for anything else in the world.
And here we will put best questions from our members and SPORES fans:
Q1) What is #Spores revenue model? In which ways do you generate revenue/profit?So many projects just like to speak about the “”long term vision and mission”” but what are your short terms objectives? What are you focusing right now?
revenue model: we charge fees to list NFTs in primary and secondary transactions. Short term: bring super high quality NFTs to our marketplace. We don’t believe in crappy random NFTs. We believe in high art. And we expect to work with the top film stars, musicians, fine artists to present these works of arts and collectibles to you.
Q2) SPO token is the native token of Spores Platform and it’s designed with NFT-creator-centricity, I would like to know, what are the main benefits SPO brings to creators, and how can they obtain them?
If you’re a creator with great vision and creativity, we want to celebrate your work. We want to work with you to mint your dream NFTs and share them with the world. Of course with our commission model more of the profits come back to you!
Q3) Security and privacy are the most important issues. Can Your project users be confident about security?Where can I buy your tokens right now what is your current contract and how can I buy them?Will you have any other DeFI feature like staking, yield farm or NFT in the future?
Many security issues will arise over time, we’re dedicated to protecting our community against hacking and other fraud. we of course go through a code audit before IDO, and plan to make fraud & risk a primary concern. the last two marketplaces I was COO for, I personally ran the fraud and risk team and designed the governance mechanisms to seek, fix, and prevent such detrimental behavior.
- we’re committed to De-Fi tools to improve NFT liquidity, staking, liquidity pools, lending, escrow, NFT dex/ETF, and token backed NFTs are all under consideration or being built by our finance and tech teams.
- We’ll definitely follow the law as its being defined by countries and legal systems. At the same time, we’re already aware of licensing laws and have a legal team based in China and the US that specializes in branding/IP/licensing to support our creators.
- Interoperability is our major priority on the tech side. we believe that NFTs should be freely exchanged on any blockchain. As a result, our tech roadmap is focused on expanding on as many chains and gaming systems as possible.
Q4) What makes you feel confident about the survival & sustainable success of #SporesNetwofk in the near future? While you build your project, do you take into account community feedbacks and demands ?
Actually, we’re looking for large communities to support us. While we fully appreciate the name branded VCs that have invested in our cause, from day 1 we believe that we need to get as many smaller investors and NFT users as possible into our project to really support the artists and creative projects we plan to bring on. Just as fans are the lifeblood of traditional entertainment, so too are retail investors to our cause. without them our community would not exist. we honestly answer all our community’s questions and look to take their ideas into account when biz developing.
Q5) I read that the Spores Network will be focused on creators and collectors across China, Vietnam, Korea, Japan, Indonesia, Thailand, India, Philippines, and the rest of Asia. Are you planning to extend Spores to other continents?
we actually bring work from around the world to asia and vice versa so yes!
we’re announcing soon some major artists from the west and east into our first drops.
Q6) PARTNERSHIP & COLLABORATIONS are the backbone in making every project more widespread. Can you list some of your upcoming partners and collaborations?
if you follow our channel, you’ll hear about a BUNCH of partnership and collaborations we are doing with the TOP tokens. For one, we’re the first NFT marketplace on Cardano! Two, we’re planning to announce a partnership with another major blockchain! Three, we have invested in a major wuxia, chinese kung fu legend, and plan to release NFTs for the project! In fact, we have so many collaborations coming that we’re going to have a dedicated Spores Network Youtube Show to invite guests on to chat about how they are working with us every week!
Q7) Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
https://spores.app/ check out our page for full tokenomics!
Q8) What activities do you plan to do in the field of business development and marketing in the coming period? Grid, community, collaboration, list, etc. What are your priorities in matters of topic?
we are focused on deepening our country outreach. so we really want to tackle china where we actually have a physical art gallery in Shanghai to show off our work! Same with Hanoi, Vietnam, and Los Angeles, USA. We also have a XR/VR art gallery where buyers can see the work beforehand and talk to the artists in person or live online!
Q9) I’m still new to crypto, how do you make Your project easy for anyone? Including those who don’t understand crypto will also use Your project?
Spores Network: A blockchain agnostic DeFi-powered NFT marketplace defining decentralized pop culture
It chooses to be primarily Asian-centric and is willing to focus on and promote industries with heavy Asian participation such as:
Digital Fine Art – we are bringing back elements of the gallery experience and focusing on upper-midend to high end price points. Our curated artists will have had solid reputation in the digital art or commercial art world.
Gaming – we want to be the number one marketplace for in-game items and digital art for blockchain and traditional games, where gamers of all games can trade their collectibles.
Animation/Anime – we are huge fans of animation and anime and look to work with legends and top animators to NFT publish their archives, new work, or even commission work/projects that Spores will own and self-publish.
Celebrity – Film/TV/Music are a culture intersection that NFTs will revolutionize. We will work with celebrities, influencers, musicians, movie studios and music publishers to NFT archival music as well as the newest releases. Hollywood, Bollywood, China Media, K-Pop, we’re all in.
e-Sports – We believe that e-sports is hottest new arena of sports and we’re excited to support stars and team in this field through special NFT collaborations as well as sponsorships of new blockchain games.
How Spores measures up to some of its closest competitors: differentiating through creator vertical expertise, De-Fi solutions, and cross-chain interoperability.
Q10) Please provide me all Your project social media link for announcements so that I may not get scam from fake channels?What are you upcoming updates? Can you please give me more details?
📣We are thrilled to announce that Spores Network has successfully secured $2.3 million in new funding to become the first full-stack non-fungible token (NFT) and decentralized finance (DeFi) from many investors like NGC Venture, SVC, ExNetwork, SL2, Twin Apex, Maven Capital, OIG, and Vivian Capital.
“We at Spores Network are incredibly excited to launch our vision of NFTs and De-Fi with the support of world-class crypto VCs and KOLs who see a future that is frictionless, borderless, creator-centric, and community-driven to create, exchange, and communicate our physical and digital life’s work.”, said Duc Luu, Spores Network Executive Chairman.
And this was the end of our AMA with SPORES.
If you have any other questions you can ask here:
ℹ️ℹ️ Useful links ℹ️ℹ️
Website :- https://spores.app/
Medium :- https://spores.medium.com/
Twitter :- https://twitter.com/Spores_Network
Facebook :- https://www.facebook.com/SporesNetwork
Instagram :- https://www.instagram.com/SporesNetwork/
Tiktok :- https://vm.tiktok.com/ZMebCJ64d/