BlockTalks x Jigen App AMA Transcript!
We recently hosted an AMA with Jigen App, on January 13th 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 Filippo Ricci, Founder & Senior Operation Advisor at Jigen 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 Jigen to our community in layman’s term?
Ans —Jigen is a unique project of its kind, that aims to be the first NFT gateway for fashion and luxury items in the metaverse.
We want to deliver a unique experience for our users, offering them asset-backed NFTs as representation of physical goods that they can also bring to different metaverses as wearables.
We focus on solving typical problems for brands through the use of blockchain technology such as counterfeiting, while allowing different players in the fashion and luxury items industry to venture into new ways of sharing unique designs of their products using NFTs.
Moreover, we are unlocking a new potential market for luxury items on the blockchain, where users can also enjoy a wide range of defi applications, if we think for example to the fractionalization of expensive luxury goods that can finally become accessible to the masses or even the collateralization of expensive NFTs to get a loan in stablecoin!
Q2. What are the advantages of Jigen to the other alternatives in the Blockchain field?
Ans — Few protocols are already exploring the merge between physical and digital, thinking for example to RTFKT which is a digital brand itself, but actually there are no solutions for traditional brands that want to approach the blockchain and the NFT space.
I really believe that Jigen can be a game changer for all those brands that want to approach the web3 without having infrastructure and connections required to have a successful launch of their products. We’re giving them support in all fields, from the creation of smart contracts to the marketing exposure in the nft communities.
Items connected to our digital identities will acquire an ever-greater importance, especially for the new generations, and we are already seeing it on twitter with the huge interest for the pfp. Jigen offers for the first time a complete solution to get ownership of items while flexing them in the metaverse.
Q3. What are the major milestones Jigen achieved so far & what are in the future pipeline?
Ans — We’re very proud of what we’ve built so far, in terms of development but especially in terms of strategic partnerships with the major backers in the industry (X21, Magnus Capital, Oddiyana, AU21 just to name a few) as you can see from our website and social channels.
In the last weeks we’ve been focused on building our community, involving it in different activities and airdrops and there is still a lot of work to be done in this direction to reach a wider audience target.
During this month we’re announcing also other strategic partnerships with institutions as well as NFT and metaverse projects that will enrich the Jigen ecosystem. Our IDO is planned for this month and we’ll make sure that the NFT space will know about us. The platform launch is also planned for the first quarter of 2022 and our goal is to go live with the first NFT drop as soon as possible. After that, our main objective will be integrating most of the famous EVM compatible chains.
Questions Asked on Twitter For Jigen Team!
Q1. Jigen’s goals include creating a launch pad for NFT. Since Jigen provides a different market, can you tell us what types of NFTs will be released here? Will they just be well-known fashion brands? What will be the requirements to participate? Will it work through the levels?
Ans —We want to launch NFT drops connected to different type of products, ranging from fashion items like t-shirt or sneakers to luxury goods like watches potentially. Fashion brands are definitely the target for our ecosystem and we’re already working with some well known names in the industry that we’ll share in due time.
Lastly, holders can participate in the NFT drops and purchase our exclusive items depending on how many JIG tokens they have. Another very cool thing is that users in the highest tiers will have a big chance to obtain rare NFTs with special features.
Q2. A few days ago you at Jigen announced that your smart contracts had been audited by QuillAudits, excellent! But I would like to know: why did you choose to work specifically with this company instead of another company in the market? What were the results of this audit?
Ans — We’ve decided to work with Quill Audit because it’s one of the leader Smart contract audit platform in the market and also our backers gave us positive feedback regarding this option. The process was smooth and the result has been definitely positive for us. We’re ready to launch our token as planned 😊
Q3. We are aware that today it is a great limit to be present in a single chain of blocks. Is the Jigen ecosystem designed to be cross-chain and cross-metaverse? Will you implement it in which EVM solutions?
Ans — Yes, our main goal from the beginning has been to develop a cross-chain ecosystem and we’ll deploy on the major EVM solutions like Binance Smart Chain, Polygon or Avalanche in the first half of the year. We also settled a crucial partnership with Scotty Beam in order to ensure a seamless experience for our users, that will be able to teleport their NFTS on multiple chain and potentially use their wearable in our metaverse partners!
Q4. I got to know that, JIGEN’s first ever NFT Influencer Campaign is currently on going & is gaining great responses form the community. So,could u tell us, how I can particiapte in ths campaign? What are the criterias,and how will the winners be incentivised?
Ans — Thank you for asking, the NFT influencer campaign is still active but will end soon. Winners will get a whitelist spot in the upcoming IDO on Enjinstarter. I’ll drop here the link for major info 😊
Q5. I read that the physical NFT equivalent product can be ordered on the Jigen platform. So, when the physical equivalent of a digital asset is requested, what happens to these two assets, which one will be burned or destroyed? How do you make the change from web 3.0 to physical?
Ans — Once the NFTs are claimed on the Jigen platform, our smart contract changes the metadata associated with the ERC721, making the NFT dynamic. This gives a lot of advantages compared to the traditional method of burning the token, because the holders of a certain collection can be made eligible for airdrops, special discounts and more.
Questions Asked by our BlockTalks Community Members during live Session to Jigen Team!!
Q1. Can you tell us about the functionality, benefits and Utilities of the $JIG Token? Thank you.
Ans — Yes! Our $JIG token will be native on BSC and it will have mainly three functions: exclusive access to our NFTs and privileges within the platform, staking and governance. Holders will be eligible to purchase our exclusive items depending on how many JIG tokens they have and users in the highest tiers will have a big chance to obtain rare NFTs with special traits. One feature to be stressed out is that 60% of all fees collected from each NFT trade on the secondary market will be used for $JIG buybacks and burns.
Q2. Can you tell us more about one of Jigen’s aims, which is to develop its own brand? What advancements have you made in terms of your personal brand?
Ans — Jigen brand building is one of our main goal for the future. Actually there are almost no competitors in this field because fashion brands haven’t explored yet the metaverse. So we can leverage “Jigen” starting with co-branding strategies and gradually expand our reach in several ways. We believe that NFT merch is definitely on the biggest trend for the upcoming years !
Q3. Jigen recently announced that it will be conducting its IDO with some of the biggest launch pads in the industry. So can you give us some details about the IDO and give us an overview of the launch pads that Jigen has partnered with?
Ans — We’ll release tomorrow an IDO recap to help users on this matter. We have 4 confirmed launchpad: Enjinstarter, Gamestation, Oxbull and Astronaut. In our offical announcement channels you can find the details for each of them: https://t.me/jigenapp_announcements
Q4. We are really impressed with Jigen so can you tell me the meaning of this cool name? What was your wish when choosing a name for this project?Jigen plan in the near future?
Ans — Jigen means “dimension” in Japanese and the name was given because the project itself is focused on bridging the real and the virtual dimension. And if you look at the logo design, “IO” calls to the binary code as connection point to the two worlds! Just a bit of storytelling :)
Q5. I am very impressed with your project, can you and the team tell us more about Jigen the idea how it started and especially why it is needed? Where did the inspiration when you picked that idea come from?
Ans — Well, the first time we thought about Jigen was back in February 2021, when NFTs started to get recognized at least from an artistic point of view. In that moment we understood that the entire movement would have assumed a big relevance also in other fields shortly thereafter. And we realized the potential of fashion in web3, so that we started to work on Jigen :)