AMA with NFTY portal
On the 17th of February, 2022 at 14:00 UTC, Decentralized Club had the honor of hosting Joaquin Bravo and Az from NFTY Portal for an Ask-Me-Anything session on their Telegram page with a community of over 70,000 people. It was hosted by DC Host, Alvíss.
The session was divided into three segments. Introductions were made in Segment 1, questions from the Twitter community were answered in Segment 2, and live questions from the community members in attendance were answered in Segment 3.
If you missed this event and would like to know what NFTY Portal is all about, you can find a recap of the interview here. Information here should be researched and should not be taken as investment or financial advice. Also note that slight edits have been made for clarity, and links in this recap lead to images, documents, or other media.
Segment 1 - Introduction
[Alvíss Andorr]
Hello Everyone!
I'm Alvíss, your host for today's special AMA session. 😉
[Alvíss Andorr]
With us today we have Joaquin and Az from NFTY Portal
[Az]
Hello Alviss
Hi DC
[Alvíss Andorr]
Greetings! Welcome to the Decentralized Club. We are glad to have you guys here. ✨
[Joaquin Bravo]
Hello!
[Alvíss Andorr]
How are you guys doing today?
[Az]
Great thanks. It's 1am for me on Friday so having a Bourbon and Cola after a long days work
[Joaquin Bravo]
I am doing great, thanks! How are you?
[Az]
How are you?
[Joaquin Bravo]
For me it is 9 am but a day before 😅
[Az]
the future looks bright lol
[Alvíss Andorr]
I'm very well, thank you. 😊
Without further ado, let's kick this session off.
We begin with the basic introduction.
[Joaquin Bravo]
Sounds good
[Az]
great let's do this
[Joaquin Bravo]
My name is Joaquin Bravo, and I am the CMO of NFTY Portal. I have been in the crypto industry for over 3 years and have been working with many DeFi projects ever since
I have to say, NFTY is the one with the most potential, for sure
NFTY Portal is a decentralized exchange/platform with its own hybrid (PoW/PoS) blockchain. This allows for instant transactions and extremely low fees. It also supports cross-chain and is fully decentralized
[Az]
I am Arron
Live in Australia
COO of NFTY Portal
Been in crypto for around 5 years and NFTs for 3 years
I am the co-founder of NFTY Portal along with our Lead Dev
[Az]
https://t.me/decentralized_club/729267
[Alvíss Andorr]
Great. Very impressive.
Can you briefly tell what NFTY Portal is about? We would like to know more about it and the inspiration that birthed the project.
[Az]
the project is formed from the problems that we all face in our daily crypto and NFT lives
for years we have had to endure many scenarios where we are at the mercy of centralized exchanges and marketplaces
we created the NFTY Portal to make a Decentralized Exchange and Marketplace for all
with Safety Efficiency and Effectiveness
the code itself was begun in 2016 and has continued to be redeveloped and rewritten to ensure that security is of the highest level
the project was developed over 15 months ago from an idea to the soon to be released product for market
[Alvíss Andorr]
Wonderful
What are the innovative solutions that distinguish NFTY Portal from other NFT based projects and what competitive advantages do you have?
[Joaquin Bravo]
The main solutions for the project are its scalability, instant transactions, multi-chain and mobile compatibility and much more. We drafted a graph compared to other L1s to easily spot the advantages of NFTY over others
[Az]
We have a universal chain that allows us to integrate with any other chain on the market
We have a dynamic chain that does many things including adjust depending on the amount of transactions
We have side chains from tokens or NFT projects that also assist with the transactions load which removes stress from the main chain
The chart Joaquin shares shows some simplified examples of the superiority of our chain compared to others
There are many more features also
Regarding NFT based projects users can mint from their own desktop wallet
Users can also share their tx id on socials which will link directly to their NFT allowing buyers to easily view access for purchase
Plus many more features of the system
[Alvíss Andorr]
This is great. 👏🏾
What is the reason behind the slogan “Space and Time in motion” motto?
[Az]
oh good question
[Joaquin Bravo]
The slogan comprehends our different coins and tokens that the blockchain presents
NFTY Space coin will be used as the payment coin for transaction fees related to coins, tokens and NFTs, and also for mounting NFTs or tokens on the NFTY chain. It can be staked in the NFTY Wallet and will also be used in yield farming.
[Az]
this was created to represent the products and how they are relevant to the blockchain ecosystem
[Joaquin Bravo]
NFTY Time will be used as the reward coin that users earn when they engage in yield farming their NFTY SPACE coin. NFTY TIME coin also acts as a highly collectible, high-demand, low- supply coin that can be traded with other tokens in the NFTY ecosystem.
Lastly, NFTY Motion is the governance coin of the NFTY ecosystem and will be gifted to NFTY TIME holders as a reward, giving them governance rights over the NFTY Portal project’s future decisions.
[Az]
Firstly let me explain the name NFTY Portal
- NFTY or Nifty meaning – ‘skilful or effective, attractive or stylish’
- Portal meaning – ‘a gateway to another dimension, universe’
- NFTY Portal is the gateway to an effective trading universe
Slogan explanation: Space and Time in Motion
Space - the size of the crypto and NFT market is unlimited like Space
Time - an NFT stamps on the blockchain marking the Time
Motion - NFT development is moving forward through space and time opening new portals/ doors, beginnings in constant Motion
[Alvíss Andorr]
That explains it. I find the Space and Time concept intriguing.
How do we acquire your native project tokens and why is it important to hold it from an investment point of view?
[Az]
yes it's very futuristic
[Joaquin Bravo]
We are planning on launching this Q1 2022, launchpad will probably be on BSC
But after public sale, we will probably migrate most liquidity into our own blockchains as people start to adopt the technology
[Az]
NFTY Space will be available on launchpads soon for a public launch
Then after that on the NFTY Portal and other exchanges we choose to list on
There are many benefits to holding NFTY Space including yield farming for NFTY Time which has its own benefits one of which gets you airdropped the NFTY Motion
You can stake NFTY Space for more NFTY Space coins
NFTY Space will be used for transactions and NFT minting fees, rewards for masternodes and many other features
[Alvíss Andorr]
That's wonderful
Moving to the last question for this segment now.
What are the 2021 highlights from NFTY and should we look forward to this year?
[Joaquin Bravo]
2021 represented our period of growth since the conception of the idea and the project
We have also done most of our fundraising
This is how 2022 is looking like for NFTY
[Az]
In 2021 the NFTY Chain genesis event took place
The Desktop wallet and Web Wallets were released
We launched our new website
We secured funding from a number of VCs for further development of the project
Our devs found a number of flaws in the original bitcore code and helped save other projects from being hacked, also rewriting our own code
Our devs developed the new features our code brings to blockchain technology some of which are flash sync and deminodes which allow mobile devices to also act as nodes securing the chain
Wow there is a lot more that happened also but not sure we have time for me to continue on
2022 will be the year the blockchain industry is advanced forward because of the release publicly of the NFTY chain
[Alvíss Andorr]
Very expensive.
[Az]
https://t.me/decentralized_club/729313
[Joaquin Bravo]
Yes, we have many things planned!
[Alvíss Andorr]
That's wonderful
Now it's time to take questions from our twitter community
[Az]
ok great
[Alvíss Andorr]
Here's the first question
Segment 2 - Twitter Questions
[Alvíss Andorr]
Could you briefly explain the most important milestones? What could your project look like in 2022 and beyond?
Twitter Username: @xs_xsikur
[Joaquin Bravo]
Oh, ahah it’s pretty similar to the last question
So we can move on to the next one 🙂
[Alvíss Andorr]
Yes. 😁
I've seen projects using a dual token system, but NFTY chose to adopt 3 different tokens. Can you explain about these 3 Tokens and why you chose to adopt the 3 token system instead of 2 or 1? How can users get each of these 3 tokens?
Twitter Username: @themiracleboy0
[Az]
There are a total of 3 coins in the NFTY ecosystem.
Space is our main coin for fees and transactions, staking and masternodes etc.
Time will be earnt by Space holders in yield farming and is a low supply coin
Motion will be gifted to Time holders as a Dao Governance coin to give the community a vote in how the project moves forward.
If we were to have just one coin we could not give the community more value for their investment in Space coin through yield farming.
We also have more plans with coins and NFTs which will give more use cases to the Time coin.
We didn’t want to use Space or Time as a Dao/ Governance coin which is why we introduced Motion.
All 3 are unique, all 3 play different major roles in the ecosystem and all 3 give extra value to Space investors/ holders.
[Joaquin Bravo]
Next please 🙂
[Alvíss Andorr]
Which aspect do you think will have a larger impact in industry? The DEX or the Marketplace? How will collaboration with artists work?
Twitter Username: @Vicky79583658
[Joaquin Bravo]
Both the DEX and Marketplace will provide solutions to current alternatives
With regards to the DEX: Many issues faced by users of cryptocurrencies on centralized or decentralized exchanges stem from a lack of accessibility to their preferred coin or token, often forcing them into multiple swaps or trades because of chains’ inability to interact with each other just to end up with the coin or token desired in the first place. NFTY chain aims to solve this by having a universal chain that doesn’t care which network or platform it interacts with, giving users the ultimate freedom to trade as they wish in an unrestricted manner.
And regarding the marketplace: The main restrictions that currently surround NFTs stem from the inability of current networks or chains to store data, forcing users to mint on marketplaces which in turn adds costs when wanting to sell on other marketplaces, making the process more costly, inefficient, and unproductive.
[Alvíss Andorr]
A moment for the community to read through
Ok. Moving on now
Regarding your roadmap and the creation of the NFTY Advisory Board that you plan to do this quarter, who will constitute that board and will it be possible for your users to be part of it? If so, how can we apply?
Twitter Username: @molestika
[Joaquin Bravo]
Our Advisory board was created to bring in important partners to the project
We already have 4 people in our board who help our project grow
And they are all related to the project since its inception
So people could in theory apply, but we cannot assure anything
[Alvíss Andorr]
Great
Last question for this round.
Does the NFTY PORTAL development team have future plans to provide more options to users by accepting cryptos, tokens and NFT's minted on chains other than NFTY or will they simply limit themselves to only accepting those minted on the NFTY chain?
Twitter Username: @sik7311
[Joaquin Bravo]
Yes, NFTY has compatibility with multi-chain
And thanks to the way that it is coded, it allows for cross-chain without the need for bridges
Making transactions between blockchains faster and cheaper!
[Alvíss Andorr]
Thanks for answering our community questions! 🙏🏾😊
[Joaquin Bravo]
Of course 🙂
[Alvíss Andorr]
Now it's time for the live questions segment.
[Joaquin Bravo]
Sounds good
[Alvíss Andorr]
I'll open the chat for 120 seconds
[Joaquin Bravo]
sounds good
[Alvíss Andorr]
After which you can now select 5 original questions.
[Az]
Lets Go
[Alvíss Andorr]
Try to ignore generic, vague, and copy-paste questions 😊
Unmuting in
Gooooo
---Chat was then opened for the live community to send in their questions---
[Alvíss Andorr]
Group muted.
Guests, you can go ahead now.
[Joaquin Bravo]
Oof, lemme check ahah
[Alvíss Andorr]
A lot of questions right? 😊
[Joaquin Bravo]
yep
don't know which to choose ahha
Segment 3 - Live Questions
[Exyn Triarky]
What wallets can currently support your tokens? Are there plans to add extra features in NFTY Portal in the near future? What plans do you have on your roadmap for 2022, in the short term and long term?
[Joaquin Bravo]
As of right now, you can download your NFTY wallet from our website: https://www.nfty-portal.io/
[Temitope Awoyinka]
🔥
What are the use case of NFTY token
How do token holders benefit? ?can we STAKE and FARM to earn passively
🔥
[Joaquin Bravo]
Yes, you can Stake your NFTY Space tokens to earn NFTY Time
Website: https://www.nfty-portal.io/
Twitter: https://twitter.com/NFTYPortal
Telegram: https://t.me/NFTY_Portal
Telegram Announcement: https://t.me/NFTY_News
Discord: https://discord.gg/tPUxwfDAA4
Medium: https://medium.com/@NFTYportal
Instagram: https://www.instagram.com/nftyportal/?hl=en
[pappaji]
What are the competitive advantages of your project? What advantages do you have over competitors? What would be your project's most similar contender in the market today in terms of scalability, security, features, and adaptability?
[Joaquin Bravo]
Here our the main competitive advantages
[Yani Channn- Baa 🌛]
Regarding the safety and security of your platform, what are the security measures adopted and have you done any audit of smart contracts?
[Joaquin Bravo]
We are yet to audit our contracts but are already in talks with some top companies. We plan on having that finalized within Q1 and Q2
[Ariana🌷]
Soon the launch of your NFTYVerse will arrive and I would like you to tell us about what will be the content that this long-awaited update will have?
[Joaquin Bravo]
This is still in development, and we won’t see NFTY joining the metaverse until probably Q3
[Baxy *LOVE CRYPTO 69]
Could you please tell me just a little more about the NFTY Portal team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
[Joaquin Bravo]
Team:
-Arron Brown COO
-Joaquin (myself) CMO
- Gabriel CFO
- CryptoCoderz Lead Dev
- Marketing Teams including writers, publishers, graphics
- Social Media Teams including Telegram admins like our great Dan, Twitter, Discord
admins.
[Joaquin Bravo]
Those are the best ones I could find
Is that good?
[Alvíss Andorr]
That's great…
[Az]
https://t.me/decentralized_club/729492
[Joaquin Bravo]
Great!
[Alvíss Andorr]
Thank you so much for taking out time to answer our questions.
[Joaquin Bravo]
Of course 🙂
[Alvíss Andorr]
And thank you to our community for providing them.
This brings us to the end of this AMA session.
Guests, any closing remarks for the community?
[Az]
thank you for having us in your wonderful community
[Joaquin Bravo]
Please join our chat if you have any other questions
[Az]
please feel free to join our telegram group and ask further questions if you have any
[Joaquin Bravo]
[Az]
https://t.me/decentralized_club/729515
[Joaquin Bravo]
We will welcome everyone with open hands
https://t.me/addstickers/NFTYPORTAL
[Alvíss Andorr]
That's great. Thank you guys once again.
[Joaquin Bravo]
Of course
Thank you all for having us!
[Alvíss Andorr]
The AMA has officially ended. ✨