Date : 21st July 2021
Host : HunterX & GemFlair
Guest: Spores Team (Duc — Co Founder)
Hello! Spykefastians & Blockchain Enthusiastic!
We recently hosted an AMA with Spores, on 21 July at 11:30 AM UTC. So here we are up with the AMA transcript, for those who missed the live session, this post will be a saver & a feeder of knowledge for them.
INTRODUCTORY QUESTIONS — BY SPYKEFAST TEAM.
HunterX | Spykefast (@realsch1- twitter):
Q1. Kindly give brief introduction about yourself, Crypto experience and your role at #Spores Project Project?
Duc:
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 am a contributor writer for Vietcetera, TechinAsia, and keynote speaker in Edtech, Proptech, and now Crypto.
I’m co-founder and chairman of Spores Network.
I’m a late joiner to crypto but happy to be building here!
HunterX | Spykefast (@realsch1- twitter):
Q2. Let’s talk in detail about #Spores project What are the main features of the project? How does Spores Project bring out the best of NFT & DeFi space?
Duc:
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.
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.
As for biz strategy, Spores Network is 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.
HunterX | Spykefast (@realsch1- twitter):
Q3. What are the major utilities of holding the #Spores native token $SPO? How does team plan to enhance its further value so as to attract users onboard?
Duc:
$SPO www.spores.app, Spores Token holders will receive special promotions and discounts on NFT drops, lootboxes, and other cool events we are building.
we’re also building a full loyalty system to reward our $SPO holders! think AMEX, but for Spores!
HunterX | Spykefast (@realsch1- twitter):
Q4. What are the major partnerships done so far? How have these played a major role in Spores project development?
Duc:
We have announced our partnership with SparkPoint — Defi/NFT gaming project that is amongst the largest in Philippines with a large communities.
We signed partnership with Chainguardian — an NFT gaming project that will do cross listing of their in-game item on our marketplace.
We also signed a major partnership with a top manga publisher in the US that will be releasing NFTs on our platform. We will soon announced more in detail. In addition to that we have many major partnerships with both blockchain projects and traditional companies that we have secured and will be announcing in the coming days.
HunterX | Spykefast (@realsch1- twitter):
Q5. How is #spores project different from other NFT based competitors like Enjin, OpenSea, Seascape?
Duc:
I am sure the communities have seen a fair number of NFT marketplace around. We believe one of the key differentiator will be content, “content is king”. Our strengths come from our business network that enables us to bring large mainstream IP to our platform. Especially from the NFT side, content like digital art, gaming, animation, celebrity, and e-sports are fertile ground that NFTs haven’t really scratched the surface yet. With major hire like Allen, our chief Content Officer who is also a hollywood movie producer of major hits who will put us in close conversation with many major IP/Franchises to bring onto our platform as NFTs
Second is our techstack that allow for Defi tool and cross chain trading mechanism that create a full stack platform for both creators and users
HunterX | Spykefast (@realsch1- twitter):
Any details regarding public sale? When we can expect it?
Duc:
IDO with Cardstarter on July 28th!
LIVE AMA QUESTIONS
Sun:
Spores want to change the NTF market in favour of quality rather than quantity, what does this mean and why does the current NFT market need a change? Changing a market is not easy, how will Spores change the NFT market? And what great features will Spores bring to the market?
Duc:
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.
Amid Yazdi:
Hi Duc,
Anime and Manga plays a big role in digital art community. What is Spores plan to use this in the NFT space, given that your focus is primarily Asian market?
Duc:
good question: in the coming weeks, we’ll announce major colloborations with fine artists, animation studios, manga and wuxia studios, and anime studios. we deeply care about this vertical and are going to bring great content!
Mangekyou Sharingan:
The “COPYRIGHT” issue is the main problem of NFT marketplaces? How will Spores control the owners of the NFTs entering your Marketplace?
Duc:
we 100% vet all our NFTs and the creators. All our work with be original and from the real creator or publishers. We don’t want to rip off our artist’s work like other NFT marketplaces.
Amina Peter:
Community plays a major roles in the success of every projects. The bigger and loyal the community the greater the project and vice versa. So how are you carrying your community along in the growth and Development of your project? What are your planned for the continue expansion of your community and doing what will make them become loyal investors.
Duc:
we deeply care about our community and are working hard to grow our community. in fact we’re going to invest in marketing and building our community, one country at a time. expect us to push into China, Korea, Japan, and Southeast Asia over the next year.
Jeje:
Reading about Spores I could see a really cool feature, easy minting and managing NFTs on multiple chains, but there is not much information about it. Could you explain the benefit this has to the interests of the artists and how it benefits the Spores ecosystem in general?
Duc:
obviously chains with lower gas fees are beneficial for all NFT minting. so we’re going on polygon asap. in fact, expect an announcement soon about such a partnership.
furthermore, we want to make sure NFTs can be traded between chains. so we’re building on as many chains as possible to facilitate cross chain operability
CLOSING REMARKS
HunterX | Spykefast (@realsch1- twitter):
Thanks for your presence
During the AMA..
And letting us know more about Spores project.
Duc:
really much thanks for having me
Legendary-Guy🔥:
Great AMA session from a great project, looking forward to the future with spores NFT
Hulk:
Nice ama
HunterX | Spykefast (@realsch1- twitter):
Best wishes to you and Team for a highly successful launch. 😇
IMPORTANT LINKS
📌 Telegram: @sporeseng
📌 Twitter: https://twitter.com/spores_network
📌 SpykeFast Telegram — @spykefastofficial
Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!
