BlockTalks x Futurent AMA Transcript!
We recently hosted an AMA with Futurent, on April 22nd at 2PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Alen Dolsak, Founder & CEO at Futurent . 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 Futurent to our community in layman’s terms?
Ans — Futurent is basically a blockchain based rental & trading platform for NFT real estate & luxury cars, heading into the Metaverse sector as one of the pioneers in the field. We like to say that Futurent is where DeFi meets real world assets.
Our main features are NFT Bricks — fractionalized NFT real estate. This allows the transferring of the ownership rights of real-world assets in a few simple clicks, and allows you to generate instant passive income. This now makes one of the most historically stable investments accessible to anyone. The smallest investment will vary from 500–2000$ and each investor will get a DAO governance vote.
On top of that, Futurent`s marketplace will allow listings & rentals of real world assets, such as luxury cars, boats and of course real estate and another exciting part of Futurent is our NFT Giveaway tickets that will allow participants to win incredible prizes! Prizes include Lamborghinis, Teslas, luxury trips to Dubai, etc.
Q2. What are the advantages of Futurent to the other alternatives in the Blockchain field?
Ans — Actually there isn’t much competition out there, we know of few similar projects, but our model is still kind of unique. Our legal entity will own each property that will be fractionalized into smaller NFT Bricks and we will take care of the management and rentals. This way we have full control and reduce the risk of involving 3rd party owners. Those NFT Bricks will transfer ownership benefits instantly and the holder starts receiving revenue instantly. Those NFTs will also be tradable at any time. On top of that, our platform will support listings of 3rd party real estate for sale or rental and we will support it with escrow service in order to provide a safe and secure process. If someone can name a similar concept out there, we would be glad to take a deep dive 😊
Q3. What are the major milestones Futurent achieved so far & what are in the future pipeline?
Ans — We are very happy with the current stage, although the prior plan was delayed as we didn`t go public at the perfect timing (bad market) situation. Currently we are just ahead of Beta release, launch of the main pre-launch campaign and we are looking forward to launch the platform by the end of the May.
At stage I (launch in 4–6 weeks), we are delivering fractionalized real estate NFTs that are pre-owned by our legal entity and make it easy & simple to invest in different properties, even with small amounts. Our marketplace will also allow listings and rentals for all kinds of luxury assets (regular one piece trading) to anyone.
Our roadmap on the other hand is very extensive and I would rather share a visual, as I have it prepared already. If you allow …
Questions Asked on Twitter for Futurent Team!!
Q1. Although it is important to guarantee security, privacy and decentralization, the project must achieve a comprehensive solution that benefits all parties, so what kind of measures will be implemented that not only secure the platform but also increase its usefulness?
Ans — Since we are using NFT model of economic rights transfer, users security was/is one of the priorities at Futurent. First of all we are acquiring an Auditor, such as Deloitte for example, that would need to approve every sale/transfer of the company’s assets and they will be bound to follow DAO Governance. Without their consent, Futurent won’t be able to trade the properties in any way. In order to make it as transparent as possible, all documentation will be uploaded to the blockchain and always accessible via Futurent dashboard.
We solve a lot of issues with our solutions, but let`s focus on the vision of our main feature. NFT Bricks will allow anyone to invest/purchase in a real estate or Metaverse property in a matter of seconds from the comfort of your home. Instantly after the NFT is transferred to new wallet, it`s eligible to claim passive income from the asset revenue. And the best part of it, you don`t need huge budget, since we fractionalize the properties and a single purchase will be available for as low as $500.
Q2. How traditional real-estate co-investment/syndicate based investment is different from FutuRent? Just the NFT thing?
Ans — Futurent is much more than investment fund. NFT Bricks (fractionalized NFT real estate) is just one feature. First of all, every transaction is instant. The moment an NFT is sent to the wallet, the revenue share is triggered. These NFTs are tradeable at any time and the user can choose between properties, and use the DAO voting system to place properties on the market (and enjoy extra revenue from the sales). NFTs will be able to be used as collateral, and each fraction can be sold/traded at any time (Futurent will even offer a buyback option if someone needs a fast solution). On top of that, there will be a high-end marketplace that will support listing and renting standard (one-piece) properties. The marketplace will be supported by blockchain, cryptocurrency payments, and escrow service for maximum safety and security. Our ecosystem comes with exceptional staking rewards and a yield program which will provide some additional opportunities for even higher passive income.
Q3. I read that Futurent is not currently building its own Metaverse, although there are some ideas for the future. But, Futurent’s marketplace focuses on real-world asset rentals, such as luxury cars, boats, and of course real estate. would this be a conflict for a metaverse?
Ans — There are, but our prior concept is already pretty wide and we need to approach it step by step. We are all headed to the mass adoption and we strongly believe that bridging traditional market and DeFi/Blockchain space is a key. Futurent is here to fill that gap and we actually see a great opportunity, more than a conflict. The NFT Bricks model can be easily adopted to any kind of assets and the opportunity to offer real world assets and Metaverse properties at one place, was just too good to refuse. Both worlds consist of amazing investment opportunities and why would anyone miss on any of them…
Q4. I understand that the Futurent developer team has a fairly broad expertise since they were part of other ecosystems such as Defi11, NiftPays, Synapse Network, Hololoot, TrustSwap, etc. So why did they decide that the real estate industry has exquisite potential for NFTs?
Ans —During the last summer and bad market period we had a lot of different ideas on the table. Basically the passion was present from the first mention of the idea and we all saw »the next hype« opportunity right away. After one key partner joined, he owns one of the biggest construction/real estate companies in the region with 30+ years of expertise, it was basically inevitable.
The team simulated and evaluated a lot of different approaches and models, before settling the final concept. After many hours of brainstorming and research we came to 2 basic conclusions — Real estate sector needs blockchain investment platfrom and Metaverse properties need one-stop-shop Our idea was to cover both segments at once and by the feedbacks we truly believe that we are on the right track!
Q5. I saw that you have an escrow service and platform fee distribution. Do you mean that all the deposits that enter your platform are fully guaranteed and protected? What are the fees that users have to cover when carrying out any type of transaction on your platform? And how are these fees distributed?
Ans —There are different platform fees over the ecosystem of Futurent, so let me use the list here:
▪️ Transaction/withdrawal fees
▪️ Purchase fees
▪️ Escrow fees
▪️ Trading fees
▪️ Managing fees (those will be calculated into the price upfront)
It varies on the type of the fee and also on the status of the user (higher tier holders/stakers will always enjoy greater discounts), but in general they are between 1% (zero in some cases) and 8%. We are just preparing the final table of all the fees to make it understandable and easy to read. This collateral will be shared shortly.
The Important part to keep in mind is, most of the fees will be shared among the community, as an additional yield/revenue for the holders and stakers on top of the regular staking rewards allocation.
Questions Asked by our BlockTalks Community Members during live Session to Futurent Team!!
Q1. When and where can I join Whitelist?
Ans — We are not using any WL, but we have a dedicated space in the presales for small investors as well. You can always reach out to our team about it. Public sale will be in hands of the launchpad(s) and all the details about that will be announced soon.
Q2. I read that Fururent offers NFT Giveaway tickets that will allow participants to win amazing prizes, how can I purchase my NFT Giveaway ticket? What are the potential prizes to be won?
Ans — The first batch (pre-launch) will be given away through our community promotions, after the launch it will be available to purchase on our platform. Prices will be Luxury trip to Dubai, brand new Tesla car and similar.
Q3. Is your project a community only for English speaking an countries or for users not of other languages?Is your project a community only for English speaking an countries or for users not of other languages?
Ans — We are very soon adding Turkish, Russian and Chinesse speaking communities. Please follow our channels for announcements.
Q4. I Am Interested to Know the FUTURENT TOKEN FEATURES, Is $FUTR TOKEN has Lot of Feature and Utilities of the $FUTR TOKEN ?
Ans — Sure, please let me use the template list we are using, since the list is quite long …
We could basically break it down to three main categories as it follows:
▪️ Acquiring and trading of NFT Bricks
▪️ Escrow service and platform fees
▪️ Dashboard access for assets management
▪️ Custom revenue claim system
▪️ Amazing Staking & LM programs
▪️ Lower fees using $FUTR token
▪️ Rewards and revenue shares payouts
▪️ Platform fees distribution
▪️ Staking tiers for more benefits
▪️ Early bird access for new listings
▪️ Exclusive Airdrops and Giveaways
▪️ Exclusive discount deals with our partners
▪️ Higher NFT Bricks „allocations“
▪️ Lower fees using Futurent platform
NFT Bricks owners
▪️ Free trading of NFT Bricks
▪️ Economic rights (revenue/sale profit share)
▪️ Portfolio pool fees distribution
▪️ User dashboard for assets management
▪️ DAO Voting rights on the portfolio
▪️ NFT Giveaway tickets Airdrops
▪️ Mobile app for accessible portfolio management
Q5. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Ans — Each NFT Brick holder gets a DAO Vote about the management of the property they are holding and there will be voting on portofolio management in the future too.
Q6. Can you briefly describe your PARTNERSHIP so far and upcoming partnerships?
Ans — Currently our investors/partners lineup looks something like that:
DCI — Dutch Crypto Investors
Chainlink — VRF and price-feed protocols
GSR — Market making
Hacken — Audit provider and long-term partnership
Luna PR — Marketing & PR agency
Pangolin — SuperFarm and investor
Platinum fund — Technical advisory
TokenSuite — Marketing agency
XP Network — NFT Bridge integration
I would love to reveal some big names that are in play, but we are still finalizing a lot of deals and I can’t talk about them at this point. But let me just say that we currently have around 35–40 VCs and strategic partners that are in the final stage … basically we are all waiting for better market situation for some relief
Q7. Can you explain what you mean by “Fractionalized NFT Real Estate” and how revenue is also genarated from it???
Ans — Each NFT Brick present part of the specific Real estate or Metaverse property. Revenue is generated through rentals income and it can go up to 60 or even 80% yearly, by some special commercial estates. NFT can also be traded at anytime on our marketplace, which can also generate additional revenue, due to value growth.
Q8. The ecosystem of Futurent is deployed on the Avalanche chain ecosystem, this Chain is good, but a project cannot be limited to just one chain, so do you have plans to integrate more chains soon?
Ans — Actually Avalanche was our priority choice and we decide to launch on it for various reasons. At the moment we are in talks we many additional options and in the future we are definitely adding other networks. It depends on one particular (potential) partnership to be honest, but there is also an option we add other network on the launch already.
Q9. Can you tell us why you choose this name for your project? Is there any meaning behind it? How can we take part in your private sale? Or is it over already?
Ans — It’s a mix of “Future” and “Rent” and those explain our vision the best. We believe engaging NFTs and real world assets into the blockchain is the next big hype and it will last. We decided to start with the safest and most secure model, which means owning a real estate and renting it out for stable and regular income. That is actually a basic feature in the shortest version and the name caught up real fast, so it’s kind of a part of us already.
Presales are still open and we are always glad to explore all the good options. Actually we are not doing it the traditional (FCFS) way, which means we individually consider each proposal and confirming round allocations, based on ticket size, added value, investor rating etc. Saying that, we are keeping space in mostly every round and we are very flexible for strong backers that would like to join Futurent
IDO launchpad(s) and final date will be announced soon, we need to settle the priority deal. We are in final stage with one of the top tier launchpad and it all depends on it right now. As soon as we have confirmation it will be announced in our channels, please follow us:
Here are some important links of Futurent👇🏻
▪️ Website: https://www.futurent.io/
▪️ Twitter: https://twitter.com/futurentIO
▪️ Telegram Official Group: https://t.me/futurentIO
▪️ Telegram Announcement Channel: https://t.me/futurentIOann
▪️ Medium: https://futurentio.medium.com/
▪️ Reddit: https://www.reddit.com/r/futurentIO