AMA RECAP : CRYPTO CHALLENGERS x TRACE NETWORK
Venue : CRYPTO CHALLENGERS
Date : 03 NOV 2021
Time : 02:00 PM UTC.
Guest : Lokesh Rao
They shared detailed information and his opinions about the project TRACE NETWORK.
🔴 SEGMENT 1 INTRODUCTION
1. Could you please provide a quick self-introduction for the community?
I’m CEO n CoFounder of Trace Network Labs . I have been working for over 12 years in enterprise technology space helping companies acquire and implement technology across more than 20+ countries. I have been actively building solutions for enterprises using DLT and Blockchain technology since 2017. Now, with Trace network Labs , the vision is to build a technology platform that will enable lifestyle brands to launch multichain & multiverse products for the 'digital twin' a.k.a. Avatars of the resident of a metaverse.
2.Can you briefly introduce the project TRACE NETWORK what are some of utlities of $TRACE ? How do you think you stand out among the competitors if there are any?
Trace Network Labs is going to enabling next era of Luxury Lifestyle in Metaverses powered by NFTs & Digital Fashion. We are working towards enabling your style statement in your digital life across metaverses and other digital interacts beyond your physical life.
Basically, the vision is to becoming a de-facto gateway for lifestyle brands to launch a new set of lifestyle & fashion products for digital #Avatars of Metaverse users across multiple chains and Metaverses.
There are many good competitors , but thats always good for any project to continue thriving to give something valuable to the community. We are standingout from any competitions by enabling people to create avatars and buy wearable digital products from our NFT marketplace BLING, and they can carry it to any metaverse
3. Can you share the achievements the team has made so far ? what are the major achievement target TRACE NETWORK is yet to achieve . If possible also share your roadmap.
Team has been successfully able to onboard couple dozen brands already, and we working with them to build wearable products exclusive for metaverse residents.We have recently announced 883 Police brand, who are bringing quirky collection , which shall be launched on BLING.
As part of our roadmap, we are currently building two products simultaneously , one is MetaBuddy, which will allow people to create their personalized avatars. An, we will be soon launching our NFT Marketplace BLING, which will enable people to buy wearable NFTs , which they can wear on their Avatars and carry them in ANY metaverse
4) Could you share a bit about security and also what benefits you provide as incentives to users choosing your platform?
Since we will be using standard ERC 721 contracts for minting NFTs, and we are not changing anything in that, so it most secured thing . And once the user would buy NFT, it will directly reach to their wallets.
Yes, there are various incentiviation programs we have planned , which shall be unlocked with the progressing roadmap. So stay tuned on our official channel to get all latest announcement about the community programs.
Trace Official Channel: https://t.me/tracenetwork
5.What’s the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution
Total Supply of tokens is 100 Million.
The most important part of tokenomics has a substantial share in it for the community , which shall be used to incentivize the community to support the project during the journey.
Also, we have kept a good share of tokens for the developers who would be able to contribute a lot in supporting the vision of the project to improve the overall experience of metaverse residents.
🟡 SEGMENT2 TWITTER QUESTIONS.
Many projects promise a long-term plan, big mission and great success in future but never release any working product or revenue. What makes your project diferent with these projects? Could you share some big achievements that you get in 2021?
We are a experienced team who have delivered many successful projects in past. And, currently we are easily able to onboard various luxury brand like 883 Police etc, just because of the our credibility.
We are a project who would be Launching our first product, BLING a limited edition luxury marketplace for wearable NFTs, just after our token launch. I think that would be enough to prove that we are here to deliver .
As informed above, the immediate plan is to launch our NFT marketplace for wearable limited edition Digital products and MetaBuddy which will enable users to create their avatars. Also, we have started working with metaverse project to setup integration, so that users can experience their movement into any metaverse seamlessly .
Trace Network plans to reach businesses, but it has to reach users first. Could you give us more details about the marketing and advertising strategies carried out by the project to reach a greater number of users?
Trace Network team is continuously connecting with new communities to educate them about the project. And we are onboarding KOls, which would help us to extend our reach to the audiences. Rest, we are closely working with our abled advisors to grow our loyal community base. Plus, we are releasing our project achievements via global media outlets, which are bring attention of millions of users
Why do you think we should hold $TRACE tokens? What are the advantages of holding $TRACE tokens? On which exchange is $TRACE already listed and planned to be listed soon??
Trace token will be launched soon. Connect on our official announcement channel , will release this info .
Trace token has multiple use cases. Some key use cases are :
Trace token is going to be acting as a key governance attribute to be used by token holders for voting and enabling various protocol parameters especially in the brand selection, etc.
Further, trace token will be used as fuel for minting NFTs for the millions of merchandise every year.
Plus, token will be used for various community incentivization programs and other market outreach programs.
Plus , the token holders will also be given opportunity to buy some RARE NFTs from our brands.
More such important utilities are being worked upon, which makes it ideal for communities to hold the token.
For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it is development? Can you tell us that how your project generate the profit?
We have raised funds, which is good enough to support the project till it starts generating revenue. The revenue generation will start immediately from the platform fees on buy/sell of these limited edition NFTs on BLING platform.
Every year, companies lose billions of dollars due to counterfeit products, can they really cut the losses of so much money using the Trace Network platform?
That's the power NFTs gives to the brands and their buyers via provenance on chain. So,the counterfeit has a solution now, which is why brands are so keen to step up to use this infrastructure.
🟢 SEGMENT 3 TELEGRAM LIVE
I can't understand the meaning of the logo .. is it the statue of liberty?
No this resembles Fearless girl, which means to empower community to fearlessly move in ANY metaverse while carrying their lifestyle.
Primarily the revenue will be generated from BLING NFT marketplace on buy sell of limited edition wearable NFTs coming from luxury brands.
Q2-S ♥️ T. ♥️ A ♥️ R 🍄:
🌾 Can you give an overview of your Tokenomics, and the UTILITY of Token?
Could you give us some reason why we have to choose than other projects out there??🍁
There is substantial percentage of token allocated for community incentivization., Secondly, with our decade old relation with brands, will help us bring all these brands on BLING NFT Marketplace, which shall offer best of exclusive products for metaverse residents.
Do you have any
For this project? From where we Can learn Something? Please share with us link???
Join us on our official channel https://t.me/tracenetwork.
We will make you look good. Imagine yourself in a metaverse attending concert wearing limited edition products from one of these luxury bands..or imaging yourself attending the virtual meeting wearing a formal dress. And, since most of us have already living our second life in some form of metaverse, you would need good wearable digital products to carry your style statement into these metaverses
We are partnering with various metaverse projects like gaming metaverse or social interaction metaverse like decentraland, sandbox etc to enable movement of our avatars and digital wearable products into their metaverses. The partnership announcements are on the way. Stay tuned!
We are here to make you look good in metaverse. Our products BLING, METABuddy will be launched soon. So stay tuned for more news & updates and join our official group. You can also follow us on Twitter.
Thanks for having me here. Nice connecting with you all.