AMA with NFTGo
Introduction with NFTGo
Riswan Rasheed:
Q1. What is NFTGO about and what specific problem is it solving in the NFT trading space
?
｜ NFTGO Simon:
NFTGO is the CoinMarketCap of NFTs. NFTGO is a data aggregator where users can find information about NFT, including market data, transaction data, coin data, and many more! This is our website: https://nftgo.io/
NFTGO currently serves users in the digital currency community, and will extend to traditional industries in the future by empowering the digital transformation of pan-entertainment industries such as traditional art, games, and fan economy.
NFTGO has developed a high-performance NFT cross-chain data acquisition engine, using real-time monitoring on blockchain and multi-level solutions, which can automatically parse the NFT metadata based on mainstream standards, and solve the problem of on-chain data parsing, stable performance and the problem of poor liquidity.🔥🔥
Riswan Rasheed:
Q2. Can you shed some light on the categories of NFTs currently available in NFTGO?
｜ NFTGO Simon:
For sure!
In NFTGO, there’re 9 different categories of NFTs available now, including
1⃣️Game
2⃣️Collectibles
3⃣️Art
4⃣️Metaverse
5⃣️DeFi
6⃣️IP
7⃣️Social
8⃣️Music
9⃣️Utility
And these category labels have been strictly reviewed by NFTGO😊
Riswan Rasheed:
Q3. Can you tell us about some of the ongoing major developments that will come to fruition
before the year ends?
｜ NFTGO Simon:
yea👍🏻In the late 2021, NFTGO will launch more powerful whale tracking analysis, more scientific Rarity evaluation model, MarketPlace data analysis, NFT Drop Calendar and other functions.
Besides, NFTGO will connect more blockchains and collect more comprehensive NFT project data before the year ends
Riswan Rasheed:
Q4:Could you please provide some progress on your Roadmap and what results NFTGO
has achieved so far? And any sneak peek into 2021 plans for NFTGO ?
｜ NFTGO Simon:
NFTGO was officially released last month, and by now we have made so many progress.🚀🔥
For example, our twitter just hit 10k followers last week and we also attract many users joining our communities. We have communities on Telegram as well as Discord.
Besides, NFTGO has already reached an agreement in partnership with imToken as a strategic partner to establish NFT ecosystem together. This will be a great opportunity for users with interests and demands in exploring NFT market and managing NFT assets.
For 2021, We have lots of plans. Most importantly, NFTGO will open higher-end data services for users to help users better obtain the latest NFT market trends;
And we are 100% confident that we have the best tech, best team and one of the best traction in terms of celebs signing. You know, more players in this market = more users = bigger market size, NFTGO will dominate market with no doubt.🔥
Riswan Rasheed:
Thanks for the Wonderfully Detailed answers😍
Community ask questions from Twitter
Riswan Rasheed:
Q1: （From twitter：@g76974594）
Each project has interesting stories before it is created. So can you tell people about the story
that gave you the motivation to build and develop a great project like yours?
That's a good thing.
｜ NFTGO Simon:
The exact problem we are trying to solve is the main reason why we are in this business. The current NFT market lacks transparency and has a completely avoidable complexity. The market is extremely fast moving and volatile. So when there is a lack of sufficient data to refer to, buyers are more likely to lose money on their investments and novices will have a strong wait-and-see mentality.
This problem prevents many potential NFT investors from properly participating in the market. Holding NFT can be not only a hobby, but also an investment, such as art, real estate and others. Currently, the NFT market lacks a complete and reliable data platform to provide reference to NFT players.
Data issues have been causing a psychological barrier for a long time, so I think NFTGO is very well positioned to provide a solution to a large gap in the market.
Riswan Rasheed:
Q2：（From twitter：@AbayomiNathani2）
What is the competitive advantage of your project? Can you point out the strengths of your project that
other projects do not have to attract investors?
｜ NFTGO Simon:
ok this one will be a big answer lol
NFTGO has always maintained the determination to develop and iterate simultaneously with the market, which is very important. Today's NFT market is changing rapidly, and no fixed product architecture can permanently adapt to it.
NFTGO's products are iteratively fast: We always pay attention to industry development, dig deep into industry hot needs, and then put it into our products.
This shows that we will not just stay in the current NFTGO framework for repairs, we will always adjust our product framework according to the industry.
So for our strengths👇
1⃣️More in-depth and scientific index design👍🏻provide deeper industry/project insight;
2⃣️Faster and more continuous project access process —— maintain the access speed of about fifty high-quality projects per month;
3⃣️ Always maintain the determination to develop and iterate synchronously with the market ——continuous product optimization based on changes in market conditions.
4⃣️last one😊NFTGO is completely free
Riswan Rasheed:
Community Take your time ⌚ to read this.
Q3：（From twitter：@0JeanWayne）
I've learned that in order for a certain NFT project to be featured on your platform, the project
must first apply for listing. May I know, what are your requirements for accepting NFT
projects? Do you turn down sketchy projects and those that might show signs of scams and
frauds?
｜ NFTGO Simon:
NFTGO has strict standards for the listing of NFT projects to ensure that the data provided by NFTGO is a factual and accurate reflection of mainstream NFT market trends. 😊The Assessment Framework includes NFT Protocol Standards、Contract Validation、Activeness & Industry Reputation、Team、Project Impact and Life cycle。
You can check details here 👉 https://app.gitbook.com/@byterum-1/s/nft-go/v/chinese/jie-ru-zhi-nan/listing-criteria
Riswan Rasheed:
Community pls check it ☑
Well done
WE will see a good future
｜ NFTGO Simon:
Haha many thx!
Community ask questions from Website
Riswan Rasheed:
Q1:Do you plan on expanding your project beyond non English speaking countries to make
sure your project go as far as beyond the expected end? And briefly discuss the marketing
strategies of the NFTGO?
@Yomcy01
｜ NFTGO Simon:
Yea sure. NFTGO is a global team. Our members are distributed in the United States, South Korea, China and other places. Currently we plan to reach out to communities in many different regions, such as China, South Korea, the United States, the Middle East, and Eastern Europe through our existing partners. In the near future, it will include Africa and Southeast Asia😊
We are currently working with some local community managers to help us build local communities and promote localization. At the same time, the NFTGO official website is also planning to launch a multilingual version to facilitate more users.
For marketing strategies, we have reached out some KOLs around the world to promote NFTGO. At the same time, NFTGO will actively expand brand cooperation with other NFT projects to boost the development of the NFT ecosystem.🔥
Riswan Rasheed:
Q2:In the world of blockchain, whether as an investor or a beginner, you can rely on data to stay
away from “hearsay” and decide which #NFT to buy. What are the metrics available on the
NFTGO platform to help the investor choose the correct NFT?
@Lestmarisv13
｜ NFTGO Simon:
There’re two main categories of data: basic metrics and advanced metrics.
NFTGO has provided a detailed definition and description of the data indicators and calculation of the NFT market. Basic metrics include price, market cap, transfers, volume, liquidity, trader, holder.
And in order to present the development trends of the NFT market more accurately , NFTGO has specified and developed some advanced data metrics: collection popularity index, collection value index and NFT popularity index.
Take the project popularity index for example, it is a relative indicator that measures the popularity of a project. Its calculation metrics partially refer to NFTGO's internal data. It can be used in scenarios such as recommendations, activity rankings, etc.
We will adjust the calculation formulas of existing metrics based on market development and user feedback, and continue to develop more metrics to assist users in making NFT purchase or investment decisions.
Riswan Rasheed:
Q3:I am amazed that NFT can relay data and information about NFTs from different sources.
Can you explain your data collecting technology/mechanism? How did you manage to collect
these data and converge it into your platform? @Jmagsss
｜ NFTGO Simon:
Comprehensiveness and visualization are two main features of NFTGO. NFTGO uses a self-developed stable blockchain data collection engine to obtain the latest on-chain transaction data from the blockchain and parses it into readable NFT transaction and market data.
Users can gain a comprehensive understanding of NFT market trends, and optimize their NFT purchase and investment decisions through the NFTGO platform. The latest data on NFT Markets, including Market Cap, Total Volume, Total Transaction, and the number of NFTs and their holders, especially, the respective trends in the past 24 hours, will all be presented to users in the form of easy-to-read charts.
Live Questions answered by NFTGo
1)M Sky:
How do you plan to do some outreach in countries where English is not good? Do you have a local community to make them better aware of NFTGO?
｜ NFTGO Simon:
NFTGO has its own Twitter account, and has also established its own community. Following our social accounts and joining our community are both great ways to learn about and participate in our project. We welcome users to follow our social media accounts, where the latest news about NFT, special articles and news of benefits will be posted in real time. Users will not only be able to get a comprehensive understanding of our product, but will also have a deep and unique insight into the NFT market.
We are big believers in the community, I think in the NFT market if you want to succeed, you have to make sure your community is strong, active and vibrant. We have our own community and multiple media channels, hoping to attract new users and participants constantly.
2)Nestor Zao:
The low liquidity of the NFT market has been seen as a challenge that many projects have been trying to address. Does NFTGO have any insight into this problem?
｜ NFTGO Simon:
The liquidity of the NFT market is a key data metric that NFTGO has been working on and trying to reasonably quantify. Due to the uniqueness of each NFT asset, we are unable to quantify the liquidity of NFT assets by continuous trading patterns.
In the stock market, the turnover rate is commonly used to measure the liquidity of a stock. The higher the turnover rate, the more active the trading of the stock. Calculation formula: stock turnover rate = volume in a given time period / total number of shares issued 100%.
Building on this, we define the NFT liquidity indicator as follows: NFT asset liquidity in a specific category = number of NFT transactions in that category / total NFT liquidity in that category 100%.
Our calculation and presentation would be effective reference to users.
3)Miko Yan:
What do you think of the future of NFTGO ? Do you believe it will become a thriving project 5 years later? If so, what are the steps you are going to take to make this happen?
｜ NFTGO Simon:
The NFTGO team believes that we will not only be around for a long period of time, but that we will be quite successful in our mission. We have a long term plan and as long as NFTs exist, we plan to be the leaders of this industry.
First of all, we rely heavily on the product itself because we believe that if we can solve the problems which the market has we will be able to gain many users and generate great traction. Since our product will be able to solve the essential problems related to liquidity, price discovery, issuance, and overall transparency —— we will effectively find our spot under the Sun! Having a quality product is our main priority, and we believe it should be first for all founders as well.
Second, the community ecosystem is a major point in our mission and equally as important as the product itself. When building a product, you must make sure that you have a loyal community and core user base. This core group provides valuable feedback, and gives voice to things that should be done and changed within the product's workings. We are big believers in a community driven product, so we want every member of the community to become a user of the product at hand. NFTGO will be open minded, generous in terms of rewards for active participation, and most importantly will be implementing those changes and new features depending on popular demand.
4)James:
What is the listing criteria to include ones project in NFTGO platform?
｜ NFTGO Simon:
The projects must issue their NFT using a mainstream NFT protocol.
We currently support the following blockchains and protocols. Ethernet: ERC721, ERC1155😊 Projects must pass the contract source code of etherscan.io and ABI validation.
If your project has a self-built NFT transaction function, please also go through the above contract validation.
NFT asset contracts should pass the code audit by a third party security agency. And We prefer projects that adhere to long term framework and grows with NFT ecosystem.