BlockTalks x Farastarter AMA Transcript!
We recently hosted an AMA with Farastarter, on February 11th at 1 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 Mr. Son Ho, CEO at Farastarter. 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. Can you briefly describe what is Farastarter?
Ans — Faraststarter is a project developed by Moonknight Labs - the team behind Faraland to support Gamefi-related projects. Farastarter forms partnerships, do strategic investment, advise, incubate and bring projects to the Farastarter launchpad.
All of our team members have got experienced with crypto projects in different areas: tech, marketing, operation, product development, legeal, etc. The members all have background from reputable projects, such as Faraland, Kyber Network, Bemil, etc.
Q2. Can you introduce what makes you better than your competitors what different you are offering and what’s the competitive advantage that stands you unique in the market?
Ans — The first thing is the token usecase. We use $FARA instead of making a new token, that’s why the token growth is ensured with the growth of Faraland also, not just Farastarter.
Therefore, Farastarter is not under the pressure of launching a lot of projects to keep the token price. Instead, we focus on a small number of projects, but high-quality ones. You can think of this as a decentralized Coinlist haha.
Another thing is, unlike other launchpads, instead of only launching & marketing, we provide strategic, investment, in-game cross-over, advisory, and even incubation also. This doesn’t 100% require the project to launch on Farastarter though. In a long-term view, we’ll create a metaverse (I know this phrase has been used a lot recently) where all players can use their NFT for all of the games within our ecosystem.
Q3. Can you share the achievements the team has made so far? What are the major achievement target Farastarter is yet to achieve and your next 3 months strategy.
Ans — We successfully launched 2 projects: Bemil and Islander. There are many more projects waiting to be launched, however, the market is now violating. Therefore, we need more time to incubate these projects to maximize the profits to users. So you can be sure that projects in FaraStarter are NEVER scam.
Questions Asked on Twitter for Farastarter Team!!
Q1. I see that FaraStarter provides a secure platform for investors, allowing them to gain early attention and access to vetted token sales at a lower price. So,how do you take responsibility if ever the project you cater will be going to scam after hitting to market?
Ans — You can see that this market is risky, but FaraStarter is here to guarantee the high-quality projects. We only work with projects which have experienced founders. as i once said in an interview: “When we incubated projects, we care for them like our own offsprings.”
Although we guarantee the projects, we recommend that you should also investigate the projects by reading the white paper, roadmap, etc, to better your understanding.
To summerize, the price is dependent on the market; however, our incubated projects won’t scam.
Q2. I read on the web that FaraStarter is part of their ecosystem and uses the platform's native FARA as a utility token. What do investors require to participate in the project? and Why Projects to be launched on FaraStarter must be incubated or associated with Moon Knight Labs?
Ans — Moon Knight Labs can be considered as our mother company. So to make sure we deeply understand the projects which we bring to our users, it is evident that projects should be incubted or associated with MKL.
To participate in the project, first you have to kyc, and then apply whitelist to guarantee your tiers,... For more info, you can read more on our Medium https://medium.com/@FaraStarter or follo our official channels to be fully supported.
Q3. Its sad that most launchpads are only Profit oriented, giving little to no regards to the quality of projects being developed on their platfroms or the performance of these projects once they enter the market. How is FaraStarter going to ensure it helps any lauched project through all plase of its development to enable it blossom into a successful platform?
Ans — First, you can see that we don’t launch tons of projects at a time. In fact, we only launch 1 in a month. So there is a sign that the projects are carefully checked.
Second, as i said before, projects launched on FaraStarter are often incubated or associated by MKL or Faraland - our ecosystem. Therefore, we care for this projects to make sure them guaranteed projects.
Q4. FaraStarter supports BSC groups so far. What will be the next blockchain you will support within your platform and based on what criteria will you select them? What do you still need to develop in your platform to make it multi-chain?
Ans — You can see that FS is newly born and we have more to achieve. We can select the blockchain based on the convenience of both us and the users.
Q5. Reading your documents I saw that users will have 4 tiers to choose from within their platform (ORC, FAIRI, DRAGRONBORN and ANGEL), so what are the differences between these tiers? What are the allocations and chances (%) of winning an allocation? Will the users have to do a KYC?
Ans — You only have to do the KYC once for all projects.
Each tier has different allocations. Only Orc has the lottery. Others are guaranteed.
https://medium.com/@FaraStarter/farastarter-tier-policy-announcement-39324174ade6
You can read more here.
Questions Asked by our BlockTalks Community Members during live Session to Farastarter Team!!
Q1. For a project, community factors contribute significantly to the success of the project, so does your project have any plans for long-term community development?
Ans — Yes we do, In a long-term view, we’ll create a metaverse (I know this phrase has been used a lot recently) where all players can freely use their NFT for all of the games within our ecosystem.
Q2. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Ans — Yes of course, "You can visit these channels:
- Website: https://farastarter.com/
- Twitter: https://twitter.com/FaraStarter
- Telegram Announcement Channel: https://t.me/FaraStarterNews
- Telegram Group Chat: https://t.me/FaraStarter_Global"
There are CMs who can support you immediately.
Q3. Can you briefly describe your partnership so far and upcoming partnerships?
Ans — I can tell you that there are at least 3 projects waiting to be launched. So please stay tuned and follow the channels to take part in the projects.
Q4. Staking programme is very important for any project, Can I stake your token? Do you have any plan of starting staking programme?
Ans — https://medium.com/@FaraStarter/farastarter-staking-guidelines-a5620aacf619 here is the full guideline that can help you to stake $FARA.
Q5. Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
Ans — You can address https://coinmarketcap.com/currencies/faraland/ and buy FARA, then stake FARA to take part in projects.
