BlockTalks x VERA Network AMA Transcript!
We recently hosted an AMA with VERA Network, on September 9th at 2.00 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 Jason Lee, marketing Director at Vera. 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 Vera to our community in layman’s term?
Ans — The NFT industry does not currently have any DeFi financial products or services. Vera is the first project that we know that is providing open-source, secure, trustworthy and reliable essential financial services for NFT apps or games equally available to all developers. The initial services we are currently building are: Finance, Rent, Lend, and Verify
We believe our services will give NFTs more utility and creative business use cases beyond just buying and selling which is all that’s possible in the ecosystems out there today. This will accelerate widespread massive adoption of NFTs to be the next trillion dollar industry. Ultimately we want to ensure everyone can secure their universal right to ownership and have the ability to transact with their assets in the free market.
Imagine now being able to rent out an NFT you own and earn an income on it. Your imagination is the limit, it could be a special weapon in a metaverse game you want to loan to other players, or perhaps a virtual house you own on a second version of our planet.
Q2. What are the advantages of Vera to other alternatives in the Blockchain field?
Ans — Vera does not really have any known competitors in the space. NFT is really new and we are one of the fist projects to be doing what we are doing. We have done extensive market research, no one in the space has built a proper secure NFT DeFi network on a cross chain infrastructure. You can not lend or lease your NFT assets on any platform today.
We are the first mover and our investors and clients are early adopters, very excited about our future. We are also the first mover to bring real world assets to our NFT network. Finally, we’re really excited about something we’re working on called Metaverse mortgages. As you know, the metaverse is growing rapidly, soon you’ll be able to throw on a headset and sit in your virtual mansion on miami beach and it will likely be an NFT in some instances.
Metaverse mortgages will mimic real world real estate transactions in the metaverse and allow for renting, leasing, and financing of virtual real estate in any ecosystem. NFTs are still far from mainstream adoption — which creates a lot more opportunity for our project as a first mover in the space.
Our top strategic backer is the #1 NFT company in the world, Animoca Brands. With their support and partnership with have business insights and adoption opportunities many other projects do not have.
Q3. What are the major milestones Vera achieved so far & what are in the future pipeline?
Ans — We’re go for launch on Polkastarter IDO on 9/21 at 1pm UTC. $500K allocation at $0.05 per token.
After Polkastarter, we’ll be also launching on Polystarter, still lining up dates for this but in talks with their team. We’ve attained new partnerships as well: totem.earth, obtainable.io, highstreet metaverse, and famecast.
Finally we’ve grown our team significantly and are looking for Solidity and Rust devs, a Sr. Product Designer and Social Media person. From a product perspective, we are working on Solana implementation of our smart contracts, and have upcoming initial releases: Finance and Rent smart contracts for Ethereum, NFT marketplace with Finance and Rent integration, NFT wallet web application.
Questions Asked on Twitter For VERA Team!
Q1. Currently, there is an audience that is hundreds of times larger than the user base involved in crypto, and most projects ignore this large audience. Do you plan to make this large audience a part of VERA, do you have a strategy for this?
Ans — Vera logistically has two “customers” per say. One is the developers that build the ecosystems we operate in.
The other would be those involved in the ecosystem iteself looking to buy/sell (and now rent, lend, finance and verify) NFTs (let’s use metaverse games as an example). By focusing on widespread adoption in gaming to start with we anticipate reaching this audience in short order. It’s more of a B2B strategy to begin with as the ecosystems we integrate our utility token with will bring the widespread adoption of the product.
This is also we we’ve chosen to start with the gaming industry, as it dwarfs other industries in terms of size and does not appear to be slowing down. One day it wouldn’t surprise me if people spend as much time in the metaverse than they do in the real world.
Q2. I read that they will be conducting an IDO with the Polkastarter team in a few days. My question is, why they have chosen Polkastarter to hold this powerful event and how will users be able to access the whitelist? How will you avoid being affected by bots or whales?
Ans — As you know, polkastarter allows launching interoperable token pools.They’re very user friendly and make it easy to move assets between blockchains.
There’s a number of benefits with them: cross chain swaps, anti scam features, full KYC integration, governance modeling, etc. you can join our Discord for announcements and details like accessing whitelist: https://vera.financial/discord
As for bots and whales that’s a real problem, We’re currently vetting out 3rd party solutions to protect from whale bots that want to pump and dump our token we also hired a consulting company that specializes in these launches they’ve done over 80 of them and this is nothing new to them.
Q3. Could you tell us which userbase is Vera Labs’ main target? Do you focus only on big Investors or small retail Investors also can be a big role in your project?
Ans — metaverse games are our main client base we are seeking for the reasons i mentioned earlier: growth, current user base, and adoption use cases of NFTs. we work with all sorts, we don’t discriminate.
Q4. Many investors only care about the value of the coin. However, when most projects start listing, the value often drops seriously. Investors often have to discharge losses and suffer heavy losses. How do you prepare for this situation? What benefits will investors get whn hldng?
Ans — one, we are going to implement staking. there’s also a monetization lock period to prevent investors from dumping all their shares. Our investors and early adopters though are amazing and many are doubling down on us.
Additionally, as i mentioned we hired one of the best consulting companies in the world when it comes to launches. MagicFew, great team.
Q5. In the growing Blockchain ecosystem there are very good projects that have created several novel products around NFTs. What new use cases does plan to integrate? Is it really possible to Lend, lease or exchange this type of asset as easily as “sending a text message”?
Ans — Yes there are some great projects out there. None are doing what we are though. Being able to rent, lend, finance, and verify NFT transactions is going to open a universe of options for developers and ecosystems. Yes it will be very simple to do. our dev team works with each platform to integrate our technology seemlessly so the user experience in each platform is not disrupted.
Questions Asked by our BlockTalks Community Members during live Session to Vera Team!!
Q1. 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 — The benefits: The Vera token serves as a cornerstone to the Vera Network to properly incentivize good behavior from network participants and to enable reliable and trustworthy DeFi services for NFTs.
Lots of use cases i won’t go into othem all, but spend VERA to purchase ecosystem products and services, get discounts or favorable interest rates when paying in VERA, monetize locked VERA, etc.
Q2. I have seen that you have done many AMAs, my question is, what do you expect to get from so many AMAs and what are your goals with the community? Do you consider the community to be a fundamental role in the project?
Ans — To spread the word about us, build the VERA community, and create a win-win where VERA holders benefit and our successful launch continues to help us grow our team and infrastructure. We have big plans in the future that will honestly require lots of people to execute on.
Q3. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Ans — Our Discord channel was built to help support these other markets. There is a Vietnamese channel in there, and other foreign markets we are gaining traction in. https://vera.financial/discord
Q4. When an investor invests for profit, do you motivate investors to invest? Have you won the trust of investors?
Ans — Obviously investors want a return on their investment, however, many of our investors bought in because they caught onto the vision of where we are headed with our technology. They see us as the future defi “bank” essentially of all NFT transactions. Let that sink in. Here are some: Animoca Brands (leader in blockchain gaming and NFTs; key investor in Axie Infinity, Open Sea, Dapper Labs, CryptoKitties, and much more) and the Web3 Foundation.
Q5. STAKING is really consider very important, Can we STAKE OR FARM. ?
Ans — Yes, we are working on a staking program. Stay tuned for farming, not certain yet although we are discussing.
