NFTMart carried out its first AMA on April 24th successfully and lots of community members engaged in the event. The following are all the questions and answers from the AMA.
Q1. Could you introduce NFTMart?
NFTMart is a marketplace for NFTs which is based on blockchain. It is the first fractional trading NFTs marketplace in the Polkadot ecosystem, with its own public blockchain. And we committed to being the most professional NFT decentralised trading market.
Building with Substrate will deliver an accessible, scalable solution that everyone can easily participate in the emerging NFT ecosystem.
Recently, we’ve seen NFT popping up across networks.
With an entire market facing the challenges of persistent congestion and gas fees, we want to build our own independent chain — nftmart.network to solve this problem. It can save up to 90% on gas when minting NFTs. We believe every artist should be creative NFTs, and it shouldn’t be a tradeoff between tech and art.
It’s a cross-chain token highway designed to NFTs on-chain and launch which can save up to 90% on gas when minting NFTs. We believe every artist should be creative NFTs, and it shouldn’t be a tradeoff between tech and art.
Also, we found the existing NFT market is too difficult for casual users to use. We built NFTmart.io to provide a fun, simple, and accessible transaction experience for all. Our users can enjoy the convenient services and trading NFTs more efficiently.
In the content side, digital artwork, fashion collection, music and ACGN culture will be our key categories on our platform. We have cooperated with more than 200+ artists, musicians and designers. Their artworks will become the important NFT assets on our platform.
At the same time, we reached strategic cooperation with Land.art, Prometheus and other art institutions, they have huge potential in art and star IP. In the future, NFTMart will push more cooperation and minting more high-quality NFT assets.
As we know, NFT is “provenance native”, each asset can be tracked on the chain so we can keep these innovative arts, Non-mainstream culture, and Disappearing art forever. we want to break the boundary between virtual and reality; break the gap between online and offline; break the barriers of technology and art.
Q2. Could you give us an introduction on NFTMart team?
John is our CEO. He leads NFTMart’s executive team and drives our overall vision and business strategy. He’s a visionary with 16 years of experience in blockchain, tech， project management, and contributes heavily to our products.
Caos is our CTO. He oversees the company’s tech vision. He led the entire technical team to build the tech architecture and scale real-time infrastructure of NFTMart. Prior to NFTMart, He is ASCH chain’s blockchain engineer and Flow China’s technology ambassador.
Hoo is our COO. and product overseeing our company operations, procedures. He has 16 years of experience in product operation and management and has participated in a number of Internet and blockchain entrepreneurial projects.
I am responsible for global marketing, partnerships, and strategic planning. Prior to NFTMart, I worked many years in the VR/AR area and entertainment area and worked closely with designers, creators and filmmakers.
Q3. Why do we choose Polkadot, and what are the advantages compared to other platforms?
NFTMart is based on Substrate Framework, and in the future, we will use Substrate’s unique cross-chain technology to connect with Polkadot, incorporated in Polkadot’s ecosystem.
We chose Polkadot because of its native cross-chain properties. In the future Polkadot’s infrastructure will connect Ethereum and other public chain NFT assets, and we can also serve these cross-chain assets.
Our big vision is that users can unlimited choose which blockchain platform their digital assets want to go, we want to be such a cross-chain bridge for users.
Q4. What can we do with NMT?
NMT is the native token of NFTMart. It will be used to pay transaction fees, vote in governance events, reward network participants, and maintain the liquidity of NFTs on the network.
The token holders, who include NFT creators and collectors, can vote on platform updates and market moderation.
NMT will also continue to serve its core purpose as a minting resource, used for infusing NFTs on the NFTMarts network.
Q5. What about the allocation of NMT?
NFTMart token economy design :
40% to community rewards; 19% to ecosystem ; 15% to team building; 17% to fundraising; 6% to advisors; the last 3% is liquidity proportion.
Q6. Is there an incentive mechanism for artists and users?
NFTMart adopts the POB mining mechanism to increase the activity of artists and casual users.Token giving back to the community up to 40%, 12% is used to incentivise artists creative high quality NFTs.
If you follow us on TG, twitter or WeChat community , There are plenty of fun giveaways we do, community events, and more and more features coming to NFTMart all the time. From April 22, we will start to drop test tokens for ordinary users for 7 days. and you guys have alre active during our first airdrop.
Q7. May we know when will the test-net and main net be launched?
The test-net will be launched on June
The main-net is launched in September.
Q8. Can you share more information on the funding status and the value of NMT?
NFTMart raised1.5M via a private sales of NMT, supported by respected VCs, companies, and individuals, including OKEx Blockdream Ventures、Bixin Ventures、Spark Digital Capital、Signum、ParticleXYZ、Lancer Capital、BML、PrimeBlock Ventures, and more. This will help propel the NFTMart forward, with a base of solid companies and community behind it.
Q9. Do you have any plan for public sale? If so, any details to share with the community?
We plan to IDO on May and we will announce the time on telegram, Twitter and our community in time. Remember to join us, we welcome the newcomers and free to ask any question.
Questions from community members:
Q10. NFTMart is not the first NFT marketplace. What are the measures put in place making NFTMart stands out? How will NFTMart use polkadot infrastructure as an advantage?
A: We build our own public chain and in the future, we will join the Polkadot ecosystem. With the improvement of the cross-chain network, we will definitely cooperate with more projects on Ethereum as well including DeFi financial projects, NFT projects, or game projects.
Q11. Does NFTMart plan to be a bridge for entertainment companies to involve more in NFT area?
A: Yes! We are pushing on it. Right now, we have cooperated with a lot of entertainment companies, like music, virtual reality IPs and ACGN.
Q12. How fractional NFT is different from others? Is there any specific reason behind it?
A: We are different from others in terms of low gas fee and transactions and our platform works more efficiently.
Q13. NFTMart has joined Twitter two months ago and now the first AMA has been carried out on Telegram. Will you participate big telegram groups for AMAs? How will you continue your marketing strategy?
A: Absolutely, we plan to have more AMA in the future and we will have a long-term channel to introduce our co-artists and their artworks on NFTMart.
Q14. Will be there any plan for a kind of regulation, or “moderation” to manage the seller or the works preventing it from being flooded with inappropriate, horrible, unnecessary “spam” NFTs like the ones of ERC-based NFT marketplaces.
A: Of course we have a whitelist of selected artists, and we also want to minting the high-quality NFTs.
Q15. What is the ultimate goal of NFTMart?
A: We hope NFTMart will bring more casual users in this ecosystem. We want to bridge the gap between virtual and reality, on-chain and off-chain, as well as technology and art.
Q16. What is your cooperation model with NFT artists? Sold-more-paid-more?
A: We will launch NFT Liquidity Pools in the future. It allows collectors to deposit NFTs in exchange for NFTMart governance tokens, and artists can also become collectors.
Q17. How can users mint their own NFTs, what will be the pledge requirements to mint their own NFTs?
A: Requirements are 1. you need to own a digital wallet 2. you can guarantee that the NFTs you provided are your original works, which 3. are not NFTized on other platforms.
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