AMA Recap with WorldToken 26/05/2022
We are happy to share a text-based AMA with George Connolly, CEO of MoonbaSwap and Ben, the founder of the World Token project.
AMA was divided into 3 sections.
Segment 01 Questions (Introductory Questions)
Segment 02: Questions from the Twitter and Telegram
Segment 03: Live Questions From Community
Segment 01 Questions (Introductory Questions)
Q1: Before we even start talking about the project, can you tell us a bit about your team?
The team and I are several Defi enthusiasts who have been in crypto for various periods of time. I have been in crypto since 2015, but I started Defi involvement later in early 2020. But, been developing projects and smart contracts since Q4 2020!
Q2: Can you tell us about your project?
At its core, World Token is a marketplace for digital goods and services as well as NFTs and will allow users to receive revenue share from sales in the form of World Tokens. We are and have been, the only marketplace in crypto to support escrow payments via smart contract at no additional charge.
Q3: What is the history of your project?
World started in end-January 2021, had some listings, partners that have come and gone, and throughout the bear market, we’re able to further optimize and work on the features we had originally planned, with a lot less pressure of the market and competition. However, throughout our time, we have been partnering with several chains we believe can help foster growth and adoption of the platform.
Q4: What is the future of your project?
We’re actively working right now to customize the NFT portion of our marketplace for OneLedger deployment. We’ve been working to revamp the marketplace entirely but we’ll be debuting it on OneLedger this coming June!
Token supply will remain at 100 million, to be shared among all 5 chains we will be active on (possibly more after as well), and a small tax of 3%, partly offered as revenue sharing to holders. We’ll always be working on adding utility as we continue.
We’ll be having our IDO soon, and launching our new website domain and lite paper shortly before that!
Q5:What is the main advantage for you with our partnership?
We will be the official partner of OneLedger as the NFT marketplace of the chain. This should give us a boost of confidence and exposure from the get-go with these new updates in our roadmap. Sharing partners and resources is absolutely essential in this industry!
Q6: IDO date? IDO price?
IDO is expected around June, details to follow! IDO price at 10 cents, with listing set to be 15 cents
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Segment 02: Questions from the Twitter and Telegram
DID $WRLD IS MULTI-CHAIN?
Yes, we are on ETH and BSC compatible at the moment, working to get more chains added. The next one to be deployed on is OneLedger!
According to the project’s roadmap- what are your most important next priorities
Our next priority is to be able to deploy the native tokens and website’s smart contracts on the OneLedger blockchain, followed by the rest of the revamped marketplace and its new features!
Can you share with us your tokenomics? How much is the total and circulation supply of your tokens? Will there be a buy-back system or token burning in the future?
The total supply among all chains will always be 100,000,000 WORLD. Once the escrow marketplace is live, we will also introduce merchant bonds so anyone can come on the platform to sell their goods/services. This will involve locking up some WORLD tokens, which also adds buy pressure. Plenty of our future features will involve buy pressure similar to this, each becoming more powerful as well as the platform grows.
Are you working to AUDIT your project, so that the security of the project becomes more secure and reliable? @son_fiter
We have existing audits here https://solidity.finance/audits/World/ but new contracts deployed will all also be audited
What are your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?@BerokHerin
Our top priority is getting the IDO and subsequent deployment on the OneLedger chain done, then we will move to finish the rest of the marketplace on the Oneledger chain, and add support and the new token versions on the ETH and BSC blockchains. By the end of the year we hope to have 3–4 more additional features as well as one more chain to deploy on.
Segment 03: Live question from the community
What is the highest nft price sold? ever in your marketplace?
I think around $2500 worth, if memory serves right
What are the security measures taken by your team to protect NFTs and wallet integrations?
All of the actions are done via a smart contract to lower risks for hacks or anything like that. We will be doing verified NFT collections as well to help protect users from fakes
Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
You can see how our current marketplace UI is not a fork of another marketplace. We want the user experience to be as straightforward as possible and we will deliver this
Did you consider community feedback/requests during the creation of your product to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Yes, absolutely, we always listen and respond to our users from our telegram group. We are active there every day!
Almost 80% of investors have just focused on the price of the token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?
The community is what makes up the userbase, which is the biggest advantage of any marketplace online — in or out of crypto. The investors power our incentives — the token price. Merchants are happier to come on to use the platform if they can receive bonus incentives in the form of tokens. More merchants means more options and happier buyers. So the community and holders are our utmost priority. We’ll be introducing additional rewards to holders later on at future features, and part of our ad revenue will go to buying and burning World on each chain it is on, which gives existing holders more % of the supply and higher future rewards. Buying and burning also benefits token price. Once the escrow marketplace is live, we will also introduce merchant bonds so anyone can come on the platform to sell their goods/services. This will involve locking up some WORLD tokens, which also adds buy pressure. Plenty of our future features will involve buy pressure similar to this, each becoming more powerful as well as the platform grows. Loyal investors get to reap the benefits as long as they stick with us!
