BlockTalks x CoinDogg AMA Transcript!
Hello! BlockTalkers & Blockchain Enthusiastic!
We recently hosted an AMA with CoinDogg, on March 22nd at 11.00 AM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Victor, CEO & Co-Founder & Phillip, COO & Co-Founder at CoinDogg , so here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks
Q1. Could you please introduce CoinDogg to our community in layman’s term?
Ans — Yeah sure no problems. So CoinDogg is a digital rewards platform for content creators and their supporters. Basically we are building an ecosystem around the CoinDogg token that helps support independent content creators online by allowing them to monetize content on any platform and reward their fans with NFTs when they show their support.
Q2. What are the advantages of CoinDogg to other alternatives in the Blockchain field?
Ans — CoinDogg is the first platform to use NFT rewards to incentivize the support for independent content creators. We allow creators to earn in crypto or fiat, while rewarding their fans with NFTs. The CoinDogg token can be use to support creators and also on the CoinDogg NFT marketplace.
Q3. What are the major milestones CoinDogg achieved so far & what are in the future pipeline?
Ans — so far CoinDogg has been focused on making strategic partnerships to enable the transaction of crypto payments for the development of our platform, we currently anticipate releasing our platform to our first users in Q3. we have also partnered with strategic investors to support us and expect to release our other products later in the year.
Questions Asked on Twitter For CoinDogg Team!
Q1. Recently in seen many projects with meme coins , what is the relationship between Coindogg and Dogecoin ? Why is this tendency to follow the Doge ? What approach will Coindogg take to really fulfill its goal “to promote the use and global adoption of digital currency” and not be the meme coin of the day?
Ans — we ❤️ dogecoin just as much as the crypto community. CoinDogg is not directly related to dogecoin but was inspired by the fanfare and it’s strong online community. We hope to also support the growth of dogecoin and all other cryptocurrencies in the future. Unlike other meme coins, we are an actual company building useful products to promote the mainstream adoption of crypto and believe the help and support of online communities will drive this adoption.
Q2. During the build of your project, do you take into account any of the community feedbacks or demands to further expand the new ideas for the proyect?
Ans — Absolutely! Listening to our community and factoring in their voices into our decision making is something we value. We know that our project will only be as strong as the community using it so they are very important to us. This includes a mix of token holders, creators and fans that support creators. That being said, early we are fully committed to executing what is in our whitepaper so that is what the community should expect to see throughout the rest of the year.
Q3. As a content creator who receives donations, how will I reward my followers with NFTs? Do I have to create them or will the platform provide them? Does Coindogg currently have a tool where I can design my own NFTS?
Ans — There are multiple ways you can reward your fans with NFTs and it really depends on the level of involvement you want / what you think your fans will value the most. You should also consider what NFTs will have the longest appeal/value as any NFTs you create you can earn a royalty on in the future.
The options for creators to make NFTs are:
1. Mint your own NFTs using the CoinDogg platform — these can be whatever you like artwork, videos, audio clips, gifs, tickets to an exclusive event etc
2. Use the DOG token to commission an artist to create something for you to mint on the CoinDogg creator marketplace
3.Use one of the CoinDogg created NFTs — we’ll be working on various NFT collectibles that creators can gift to loyal fans if they choose.
The platform will offer a simple way for you to mint your own NFTs by uploading media that you’ve created elsewhere.
Q4. Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?
Ans — Aside from the crypto community, who buy tokens, we’ve got the backing of institutional investors like Antler.co — a global VC fund, and are in ongoing discussions with other VCs.
In terms of generating revenue to sustain the project, this initially will be primarily through commissions on NFTs sold through the platform as well as a small commission on creator earnings. We also plan to add more elements to the ecosystem with additional revenue streams in the future.
Our goals for the end of 2021 and beyond are — by the end of 2021, have completed beta and done the public launch of the platform starting with the donation widget and then NFT marketplace. And then for beyond 2021 one of the first projects will probably be launching our own wallet and exploring more deeply the intersection of DeFi and NFTs — we will keep everyone updated on our roadmap and progress on Twitter.
Q5. You have hosted a very useful Ama session and received lots of questions about vision / mission, technology, utilities, etc. So, What do you want to receive from the community And how can we help with your project?
Ans — Victor — We hope to gain the support of the crypto community, either through the support of our token or through the following of our project on social media (twitter, telegram) etc. In return, we hope to create long term value for our supporters by building a valuable and sustainable platform for our users.
Phillip — I don’t know about Victor but for me, I just want to see people continue to support creators on the web so that the internet stays fun and crazy. I also want to see more people get into crypto and I definitely see CoinDogg as a vehicle for this.
You could all tell your friends, follow us on twitter, share our posts. That would be awesome!
Questions Asked by our BlockTalks Community Members during live Session to CoinDogg Team!!
Q1. What’s Difference between Dogecoin and CoinDogg? Why the logo is almost similar?
Ans — As you may be aware dogecoin was an abandoned project, we pay tribute to doge by being founded in the same birthplace as dogecoin (Sydney, Australia), hence the inspiration and similarity. As mentioned before, we are more than a meme coin, we are building an actual platform and hope to add more products and services in the future to benefit and grow the crypto community.
Q2. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Ans — good question re the rug pulling. Rug pullers suck and really destroy our community. I have no time for those scammers. You can be assured that CoinDogg is not a rug pull for many reasons, the first is the commitment of our team and the transparency we operate with, the second is our partners including institutional investors like Antler who 100% cant risk being affiliated with a rug pull..
Q3. Is there a marketplace for your NFTs and can individuals create their own NFTs?
Ans — Yes, part of the platform is a marketplace where ANY creator can list NFTs. You don’t need to be a YouTuber with a following, just create an account and mint your NFT token
Q4. Why you doing IEO on exmarket? Who can participate your IDO? Kyc required?
Ans — We are debuting on exmarkets as a strategic launch, anyone can participate in our IEO with KYC required as long as they are not in the restricted regions defined in the disclaimer of our whitepaper.
Q5. How do you incentivize independent content creators who support your project? And what are the utilities of the CoinDogg token?
Ans — Independent content creators get supported by unlocking new ways to monetize their audience. No longer do they have to rely on advertising revenue on it own. Now they can accept donations in any currency and earn commission on NFTs.
Q6. While looking through your tokenomics I noticed that you didn’t allocate any % of tokens to your ecosystem which I think is the heart of CoinDogg, and its maintenance, So please tell us What plans do you have to maintain it alive? Where the revenues for it will come from?
Ans —Our tokenomics describes how we intend on allocating tokens, a core part of our ecosystem is onboarding creators and influencers who will play a vital part in the growth of the DOG token. Our revenues as previously answered will initially be through commision on NFTs and earnings from creators
Q7. What makes you feel confident about the survival & sustainable success of Your project in the near future?While you build your project, do you take into account community feedbacks and demands?.
Ans —We’re confident about the future of our project for a bunch of reasons. Firstly, crypto is going from strength to strength and gets stronger every cycle. Secondly, NFTs are rapidly growing in fact the total market cap of NFTs last year has almost been surpassed by NBA Top Shot Moments alone. Finally, the creator community is enormous and only growing as more and more people look for side hustles to monetise.
100% we take into account community feedback. Our project is only as strong as the community behind it so value the common opinions and these will be factored into our roadmap. That being said, for the next few months expect what we’ve got in our whitepaper. 😊
Quite a lot of questions here about ETH scaling and gas prices. This is a big question that the ENTIRE Ethereum community is dealing with at the moment. While we can’t give an exact timeline on when L1 and L2 solutions are going to be implemented we expect these will happen in the coming months (Vitalic suggested on Tim Ferriss’ podcast that he expects solutions in the next couple of months). Once L1/L2 solutions are in place, our project will be way way stronger and more valuable so will the ETH community as a whole. Until then, it means that NFTs will still be traded like on any other exchange but with the expectation of a increase sometime in the future.
Q8. How Do you planning to promote your project in different countries, wherein English is not spoken well? Do you have a local communities for them to better understand your project?
Ans — Hi Aurelia, good question. The great thing about CoinDogg is that it is the content creators who are the ambassadors for our platform so they are helping build the community in the language that they speak. For instance, a Spanish speaking podcaster/streamer/etc will engage their audience (presumably mostly spanish speaking) and bring them into our ecosystem that way. In terms of how we engage content creators in the first place, this will be done via strategic outreach to begin with and we have plans underway to partner with some reasonably well known YouTubers.
Q9. What other benefits besides getting NFTs do you offer users for donating with the $Dogg token ? In addition to this I would like to know what unique utility these NFTs will have on the platform to encourage users to donate or do these currently only represent a monetary value ?
Ans — we will add more functionality to the DOG token on our platform in the future and also hope to add gamification aspects to our NFTs in the future,
Q10. Can you tell us about your partners And what advantages they things in partnership?
Ans — I hope I understood your question correctly! We have a bunch of different partners — some of these are technology partners like Coinmarketcap, Onramper, Moonpay etc they all offer functionality to our platform through their plugin services.
On the investor/business side we’re working with two main partners Antler.co (a global VC fund) and Token Minds a Singapore based blockchain advisory. Each of the partners bring their own advantages but on the business side the main advantages are funding, industry connections, and in the case of token minds deep blockchain expertise.
Q11. Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?
Ans — I fully agree that only getting users/holders is not everything and you need to solve real problems and I 100% believe that CoinDogg is doing that. The traditional ad revenue model for content creators is BROKEN. YouTubers get a ~40% clip of advertising revenue when somebody watches the ads on their video. If the person clicks skip ad or uses adblock then that YouTuber gets ZERO. How many times has each of us used YouTube to get some crypto insight? I’ve done it loads, listening to Andreas Antonopolous and others — and it’s those kind of people we’re helping out.