Wednesday, 11th August 2021, 1 PM UTC
Hello everyone welcome back again to AMA series FCM. Today we will have an AMA with Duc Luu as Chairman of Spores Network Community
Hello Duc Luu welcome to Forum Crypto MoonLight . Happy to see you here. Thank you for taking your time to be at Forum Crypto Moonlight.
Duc : thanks for having me!
Before we start the AMA,
I’ll explain a little bit about how the AMA will works today
So there will be 3 segment in this AMA
Segment 1: Project Introduction
Segment 2: Question from Twitter
Segment 3: Free Asking
Before we go to segment 1, we want to know more about you
So could you please explain to us a little about your background before entering the cryptocurrency world and why did you finally become Chairman of Spores Network?
Duc : I came from an edtech, proptech, and marketplace POV: Duc built and sold an Edtech startup in Hong Kong, sold it to Bain Capital Private Equity China and then took the parent company public on Nasdaq in 2017 for over $1 billion valuation. I spent the next two years as Chief Strategy Officer looking at Edtech M&A and incubation opportunities worldwide. The last two years I moved back to his homeland of Vietnam to build the country.
I served as COO of Propzy, a proptech play, where I helped raise $25 million from Softbank Ventures Asia, Gaw Capital, and Insignia Ventures. The company currently has over 20 stores in Vietnam. Soon I was poached by One Mount Group’s venture OneHousing to lead strategy and operations as COO, looking to scale another proptech play with backing by Vietnam’s top two billionaires of Real Estate and Banking. I am a contributor writer for Vietcetera, TechinAsia, and keynote speaker in Edtech, Proptech, and now Crypto.
From Eric, “My background is in Investment and Trading, first working on the Trading Desk at the largest Japanese Investment Bank – Nomura in London, trading a book of over 300m USD of high yield and distressed credit for 5 years. Later, I moved to Elliot Management, one of the world largest hedge funds with over $70bn AUM where I was senior investment analyst overseeing a portfolio of over $2bn. I joined the cryptocurrency space in early 2017, and actively invested and advised in many early stage blockchain projects. I was poached by One Mount Group’s venture OneHousing, a venture created by Vietnam’s top two billionaires of Real Estate and Banking to create financial derivatives products for real estate in Vietnam.”
Together we decided to build Spores: Asia’s premier NFT marketplace with supported De-Fi & Interoperability Tools
SESSION PROJECT INTRODUCTION
Q1. Can you explain to us what Spores Network is and what problems you faced that led your team to create this project?
Duc : Spores Network founders deeply believe that a digital “metaverse” is being built today that will revolutionize our thoughts and behavior with respect to living, owning, sharing our physical and digital lives. Spores seeks to empower creators to create, exchange, and communicate their life’s work.
We believe in a future that is creator centricity, frictionless, borderless, community driven and we want to be at the epicenter as an ecosystem with a marketplace, de-fi tools, and venture fund that seeks to create value through project funding and support for our community
An interoperable NFT Defi platform is the foundation of the future of digital “metaverse” that we envision, it allows for frictionless and borderless NFTs economies transaction to take place.
In a nutshell: Spores Network is a blockchain agnostic DeFi-powered NFT marketplace defining decentralized pop culture
Q2. I see that Spores Network will have its own marketplace, so can you explain what kind of mechanism this marketplace offers to the users? And whether in the future there will be other fields besides the ones that have been planned in your website?
Duc : Spores Network explores the extensive nexus between NFTs and DeFi markets. It is necessary to show readers a deeper look at Spores NFT-DeFi model, which basically combines NFT marketplace and DEX. Spores targets to erase the barriers and frictions caused by blockchain technical issues, then help artists, designers, game developers efficiently monetize their works via DeFi space. Furthermore, Spores facilitates DeFi traders with financial gamification in the NFT space, then helps them to enjoy and earn from collectibles, game items, digital cards & other creative content. Spore’s DEX is specialized for the NFT market, roughly speaking, to provide the most optimized liquidity and financialization for all NFTs in accordance with the native governance/utility tokens of NFT platforms. Spores aims to build a marketplace with low and efficient fees (supported by a layer-2 scale solution) which seems now the biggest pain-point of NFT market.
We are focusing on 5 main verticals that you can find our website: www.spores.app
4. Digital Arts
Within these 5 verticals we are working hard to bring amazing IPs and contents into the NFT space. Please stay tuned as there are many exciting announcements coming!
Gamified royalty sharing: Royalty sharing for NFT creators, incentives for users & traders with transaction mining
T-DeFi: Fractionalizing multiple NFTs, utilizing LP mining on DEXes, lending & staking, to improve overall liquidity
Batch minting & transfer: Bundles of NFTs can be minted and transferred with minimal fees
Cross-chain trading: NFT swaps & wrapping across major blockchains (Ethereum, BSC, Polkadot) — erasing market fragmentations
User friendly: Everyone can create NFTs without coding skills and trade without underlying blockchain knowledge
NFT drops: Free NFT drops from notable & exclusive creators to users and LPs.
Q3. Can you explain in detail what are the features offered by Spores Network and what are the benefits for users?
Duc : Great question. We have secured a large pipeline of creators, some are super exciting, we can’t wait to share more about them. From next week we will start announcing artists, creators, studios that are joining us. In term of digital artists, we are working with the top, many of them have works sold for 5-6 digits on Nifty and Open Sea. We actually have a few amazing artists and creators specially from China (with a billion views reached). I think that is as much as I can share at this moment, but please stay tuned, I am sure you will be thrilled when you see the line up!
Did you see that we signed legendary game designer American McGee? https://twitter.com/Spores_Network/status/1424233938407546882?s=20
Q4. Please tell us more all details about SPO tokens, such as tokenomics of SPO, their uses, where we can buy them, etc?
Duc : Our full tokenomics are disclosed on our website: spores.app, please feel free to check it out. Our spoken is available on uniswap with prices showing on coinmarketcap and coingecko!
We had an awesome IDO last week!
Q5. What are your ways to attract more people to be involved in your project and what are your future plans to develop this project further?
Duc : its new – called “That Nifty Show” where i host top NFT guests to talk about all all things defi and nft
currently we have almost 10 local group with 500-1000 members each in different languages including Vietnamese, Chinese, Korean, Japanese, Portugese, Spainish, Turkish, Philippino… We also aim to have great plan to grow these local communities to great size with great tailored program for local communities
We also have many major partnerships that we have secured that we will be announcing in the coming days. We have announced our partnership with SparkPoint – Defi/NFT gaming project that is amongst the largest in Philippines with a large communities. We signed partnership with Chainguardian – an NFT gaming project that will do cross listing of their in-game item on our marketplace. We also signed a major partnership with a top manga publisher in the US that will be releasing NFTs on our platform. We will soon announce more in detail. In addition to that we have many major partnerships with both blockchain projects and traditional companies that we have secured and will be announcing in the coming days.
SESSION QUESTION FROM TWITTER
Q1. From @annamuskto For a successful project, you mus have a real-world problem-solving plan between the project owner and the investor. So can you share that plan?
Duc : we’re building a metaverse and we’re supporting all new metaverses, nft games, nft art, and play to earn game economies. join us.
Q2. From @WhiteGianmarco Do you intend to bring in non-crypto investors to the Spores Network? Because the success of a project attracts more new investors to the cryptocurrency industry. What plans do you have to raise awareness outside of cryptospace?
Duc : inherent in our business model is bringing on incredible talent from the physical world – world class musicians, film/tv actors,fine artists, blockchain games, anime/animation – all these branded IP and talents will bring with them their non-crypto fans who will buy more and more NFTs
please ask your favorite Indonesian/Malay stars to contact us!
Q3. From @quachthingoc96 : Reading about Spores I could see a really cool feature, easy minting and managing NFTs on multiple chains, but there is not much information about it. Could you explain the benefit this has to the interests of the artists and how it benefits the Spores ecosystem in general?
Duc : yeah for sure. we always wanted to be cross chain so we’re looking for ways to innovate that process – NFT wrapping, NFT20 liquidity pools, NFT price indexes, fractionalization
Q4. From @Aravind75154890 Despite being a new network Cardano has been a great success. Can you tell us about the benefits Cardano brings to the SPORES ecosystem and users?Do you have plans for HACKATHON to check the security of your ecosystem regularly and also invite developers to build your project?
Duc : Cardano is bringing smart contracts to its blockchain, we’re their first nft marketplace through our cardstarter launch. so we’re going to be very important to their roadmap
https://vietcetera.com/en/profile/duc-luu, please read my articles on vietcetera and Tech in Asia!
and join our bug bounty now and help us improve spores!
Q5. From @KiyokoSumaru On your whitepaper, I read that Spores Network is equipped with an AI assistant for checking and tracking, can you please tell me how this AI assistant can fulfill both functions of checking and tracking? Besides, how did you combine Artificial Intelligence for its development?
Duc : we actually use a special backend CRM/SAAS tool that allows us to monitor, track, and act upon all social media activity around the world. it’s a company i personally invested in as an angel investor. www.xperx.ai. it allows us to hear and see everything that’s talking about spores and nfts in all languages. we then have ai to reply and respond accordingly.
SESSION FREE ASKING
Q1. Nur Mohammad : Currently, Binance smart ,Binance exchange ,MXC exchange ,Bityard exchange
Biki exchange,Bitget exchange trending topic and It’s having high transaction speed and cheap gas fees, Are you planning to Moved other blockchain or launch your mainet in the future?
Duc : we are going to be on: ethereum, BSC, cardano, polygon, wax in that order. for CEX we going to work on getting listed on gate, mxc, kucoin, Binance, coinbase…
Q2. Lenora French : Trust is very important in business, what makes investors, customers and users feel safe when working with your project ?
Duc : Eric used to run $2 billion USD in hedge fund portfolio for elliot management, one of the largest hedge funds in the world.
i built a startup which I sold and took the parent company public on nasdaq for $1B USD valuation. I have raised tens of millions in funds for my startups and they are are successful.
my CXO team are made of the top CXOs in their own industries of entertainment, games, art, etc. and we’re working to build Spores to be a monster.
if you can’t trust us, then what is there left to trust?
Q3 .Mark Liu : Can you list 1-3 killer features of your project that makes it ahead of competitors? What is the competitive advantanges your platform has that you feel most confident about??
Duc : we have a physical art gallery to support our virtual art gallery. our physical gallery is in shanghai and we will have traveling physical shows in HK/China, Vietnam, Taiwan, Korea, and more.
We will launch a XR/VR gallery so that top artists can permanently display their top collections.
we have the best business development team in all of NFTs
Q4. Nikky 2 : Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Duc :yes, staking is coming very very soon. join our Telegram to find out more!
Q5. Matthew Wilcox : Do Token holders have right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Duc : be a part of the #sporesarmy! we have an ambassador program that we just opened up for applications. https://twitter.com/Spores_Network/status/1424743607622266888?s=20
- Website : https://spores.app
- Medium : https://spores.medium.com/
- YouTube : https://youtube.com/channel/UC9pgjF_aWprnVodvxO7OPkA
- Linkedin : https://www.linkedin.com/company/sporesnetwork/
- Instagram: https://www.instagram.com/SporesNetwork/
- Facebook : https://www.facebook.com/SporesNetwork/
- Pinterest : https://pinterest.com/SporesNetwork/
- Telegram Group : https://t.me/sporeseng
- Telegram Channel : https://t.me/sporesofficial
- Twitter : https://twitter.com/Spores_Network