BlockTalks x DoinGud AMA Transcript!
We recently hosted an AMA with DoinGud, on August 24th at 12 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Ludo, Tech Lead & Co-Founder, Adrien, leading Crypto-Native Comms & Manu, Founder at DoinGud. 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 DoinGud to our community in layman’s term?
Ans — DoinGud is a social media and marketplace platform that’s creating a bridge between the creator and giving economy, powered by NFTs and blockchain technology.
Creators can tokenize their assets and stream money to social causes when their creations get sold in the primary (min 5%) and secondary market (min 2.5%)
Q2. What are the advantages of DoinGud to other alternatives in the Blockchain field?
Ans — There are many aspects in which DoinGud is very unique. I will unpack this here :
1/ The people behind it. We are a team of 40+ professionals, with a leadership team with a proven track record and long term belief in the crypto space. We’ve been around the crypto space for years and we are here to stay. We have a mixed of background including top devs, strong experience in crypto marketing and bizdev. Many of us are deep into DeFi, NFT and started early on financially contributing to projects back in 2015. We know the market and know how to build for that market.
2/ The partners and financial contributors. We have top tier tech partners (i.e. dOrg, Polygon), but also creative partners (i.e. Agora and MOCA), and many more to be announced. We also have top tier financial contributors, over 25 VCs and Angels from our network.
3/ The tech. We love crypto, so we are building using the best practices and tech stacks that will be the foundation of the web of tomorrow. Even though focus on the “now”, we think in terms of years regarding making our ecosytem future-proof. We have decentralize NFTs as a top priority to make crypto-natives confident that their NFT is safe, but we also want to make life easy for newcomers so we have features like credit-card payment on our roadmap too. Another hot topic: our multi-gallery feature, it’s something unlike anyone has seen before. What else? We will have a very “special” staking mechanism that no-one has ever built before, think of it as a combination of the best staking mechanisms you came across in the past. And all this will be with DAO, DeFi, NFTs and community empowerement in mind.
Q3. What are the major milestones DoinGud achieved so far & what are in the future pipeline?
Ans — The highlight: we have already built a major part of our product and are now preparing to launch in the coming weeks.
What happened behind the scene: the leadership team built a team of 40+ experts to make this happen. Across developers, marketers, creators/collectors, community builders, biz devs, video makers, journalists, and so on. We relentlessly worked for months to get where we are today and there was a lot of heavy lifting involved to make sure we keep up with everyone’s expectations and succeed to launch the ecosystem we have been dreaming of.
Questions Asked on Twitter For DoinGud Team!
Q1. DoingDud announced a very important partnership with Agora, a photographic community with more than 3 million members worldwide. What will be the main initiatives that both companies will develop in the near future? How do you expect this to impact your project?
Ans — This Agora-DoinGud partnership is an initial announcement on our long term collaboration in launching drops together. Agora has a large user base of professional-level photographers, they run competitions where thousands of people submit their best pictures. Each time, only a few of the very best are selected, giving an amazing opportunity to run exhibition … or NFT drops💧
Agora is very much align with us on trying to make this world a better place by mixing what they love — photography — with “giving back”. We essentially do the same, but with crypto/nft + art, and “giving back” in a meaningful and transparent way using our team’s expertise in SIO and blockchain development.
We announced the 1st drop with Agora to come soon, very soon after the DoinGud platform launch. And there will be many more drops with Agora (more on our blog).
Q2. I have learned that once an NFT is sold in DoinGud’s marketplace, proceeds will be given to a selected social organization. Who decides on what social group would be selected to have the proceeds? Is it pre-determined by your team or is it based on the NFT creator/minter itself?
Ans — That’s a very good question. Right now, many PFP NFT Drops are claiming to donate part of their proceeds to social causes. But the funny thing is that there is zero transparency, the donation is rarely ever done onchain. So how do you know if the claim of donation is real?
In our case, we have onboarded social impact organizations that are formally and legally registered as 501c3 and non-profit organizations. All of which go through a vetting process, KYB, KYC, etc. So essentially we are building a pool of vetted organizations.
When a creator sells an NFT, she/he selects the organization that resonates most with her/him. And all the money streamed to the organization is via onchain services, via smart contract. So if you are a creator selling an amazing piece for $1M (i.e. worth of USDC) and decides to give 10%, then everyone sees that $100K going to the social cause’s wallet. That lets creators enter a totally other league regarding “giving back”. They can share publicly their whole donation history: who they gave to, when, for what creations, etc. And again, they give on secondary sales too, and it’s also visible onchain too, and via our platform UX.
Q3. It caught my attention that DoinGud will implement “automated collaboration payments”, which is something I’ve never heard of. Can you tell us more about this? What are this automated collaboration payments? How will they exactly work? What benefits do they bring to creators?
Ans — By “automated collaboration payments”, we mean: revenue and royalty split where every single contributor/beneficiary gets directly and automatically rewarded.
Let me expand on this with an example.
Right now, if you are creating an artwork with a collective (i.e. 5 creators get together to create a complex piece), then only one of them will sign up to an NFT platform and take care of the sale. Then every proceed from the sale that happens on the primary AND secondary market should go to all the creators. But only 1 receives the proceeds in her/his wallet, and must do tremendous amount of work to split the proceeds.
On DoinGud platform, all the creators of that collective can sign up to our platform and the proceeds are split automatically, onchain (via smart contract), and directly to their wallet. No intermediary, trustless. No loss of time, no headache, no cold sweat 😉 “Convenience” is probably the best word to summarize this feature.
Last but not least: we’re expanding this feature to other actors of the platform. But the above is probably already enough to digest for now.
Q4. How would DoinGud differ from other NFT trading platforms? What are the problems that DoinGub solves to offer a better experience and quality to all its users? They really have total transparency with each transaction that is made, where can I check this?
Ans — DoinGud is focused on enabling all forms of creation to generate impact. Creations are often a way to express ideas, opinions or visions. They inspire, question, amuse.
DoinGud focuses on bringing a seamless experience to all creators, coming with crypto knowledge or not. For those reasons, the entire team has put incredible efforts into making DoinGud experience as close as possible to traditional marketplaces, or even better in some areas.
Another main focus of DoinGud is enabling constant quality content. As quality is also an opinion, and as DoinGud is a community, we choose to bring new layers of incentives by enabling individuals, organisations and communities to engage in curation of creations.
Q5. Feature is the most vital thing in building project growth, a product will not develop without good feature and promotion, whatever it is good. Can you provide a list of killer features that scare your competitors over your project?
Ans — Well, first we’ve been preparing a very special staking module as mentioned earlier. So that comes baked in with some strong tokenomics (allocations, distribution schedule, token utility, and so on).
As also previously mentioned, we’re building on a super strong tech stack. We chose Polygon to launch our platform first, but hey, we’re aiming for being multi-chain very soon, and we’re EVM compatible 😉
The multi-gallery and self-drop mechanism are 2 killer features in themselves. We address both bigger players who want to curate galleries (i.e. a physical gallerist want to expand to the NFT space) and still provide a space for the smaller ones to release their artwork via self-drops (i.e. your super-cool designer friend who works in a hype startup and he wants to launch a side project to kickstart his career in the NFT space).
Questions Asked by our BlockTalks Community Members during live Session to DoinGud Team!!
Q1. Is DoinGud limited to supporting and generating value for both creators and marketers of a specific type of NFT theme? Or do they really have totally free content regardless of whether it may be harmful to some type of public?
Ans — DoinGud will open to different communities that can curate in their own way so to adress different themes according to the audience and market that they seek. And the community will moderate/curate according to some core values that they share within DoinGud.
Q2. You say that anyone can send their work of art to a group to be represented by a community gallery, but really what benefits will the creators have if they send their art to these “community groups”? And also what use will these groups have?
Ans — The “community groups” can be galleries, museums, communities, with their unique network, audience and marketing promotion setup. Creators will be able to reach markets that are otherwise not so accesible to them.
Q3. Can you tell us about the minting fees on your platform? Will i be able to mint confidently without incurring insane charges?
Ans — We operate lazy minting, that means that fees will be covered at buy time by the buyer. We also launch first on Polygon, which have really cheap gas price.
Q4. You hope to build a NFT marketplace like opensea, Rarible etc. To reach that level, what kind of marketing strategies & enhancements will you integrate in to DoinGud ecosystem? Will you take advices from Crypto veterans & enthusiasts?
Ans — DoinGud is very fortunate to count with advise of many key players in the space. They share our values of a true decentralized platform and governance. The advisors role is a very important and valued role within our community and shared knowledge benefits all of us.
Q5. DoinGud have top tier tech partners like dOrg, Polygon but also creative partners Agora and MOCA and many more to be announced.
can you explain how much they contribute to stand up YOUR project?
Ans — dOrg is contributing on a daily basis as they are working together with us. Polygon is providing with tech and also with connections in the space, also sandeep is one of the financial contributors to the project. Agora is launching their drops together with us and will be working very closely (they have over 3M users)
Q6. Can you list killer features of Your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
Ans — We have many difference when it comes to our technology.
- Our platform is initially closed to creators that are working closely with us, but it will be an open platform for anyone; also, it won’t be needed to have any crypto knowledge (neither wallets) to open an account and to publish.
- We are initially launching on Polygon and will be expanding to other EVM compatible chains. We believe that we should give the voice to collectors to decide where they want their asset to be hosted.
- Our platform allows collaboration and split of royalties with +30 creators in the primary market but also in the secondary market
- There is resilience when it comes to the data as we plan to be redundant in the way that we store it by having it on Arweave, IPFS, Filecoin and more to come.
- every transaction is completely transparent, including the donations to social causes.
