Wondera x Crypto Challengers AMA Recap from the 3rd of November
Hello, Challengers!
Another AMA took place in Crypto Challengers at our Telegram and we would like to introduce to you the AMA session with our friend from Wondera
The AMA session was divided into 3 parts with a total crypto reward pool of $100
Part 1 — Introduction questions
Alice:
AMA is starting. Chat is closed ❗️
Good day everyone and welcome back to Challengers for another wonderful AMA!
I hope you’re ready for another great AMA :)
Today, we have Bill to share us more about WONDERA !
Bill:
HI Good morning everyone
Federick:
welcome here
Alice:
Good morning! Have a nice day
Bill:
Thanks for inviting me on, love to share some information about our project
Alice:
Thanks for joining 😊
We are all excited to hear from you, so let’s get started?
Bill:
sure, let’s go!
Alice:
Please type DONE After every answer to avoid being interrupted
Federick:
🚀
Alice:
Q1. Could you please provide a quick self-introduction for the community?
Hi I am Bill, co-founder and CEO of the Web3 social entertainment platform WONDERA, which rewards user for singing and creative performances. My personal background has been in investment banking and entrepreneurship. I have been in the crypto/blockchain space since 2018, mainly as an investor and trader.
I am live in New York city where our main office is located
Alice:
Glad to know about you
You are a well experienced person in crypto space👌👌
Bill:
Yes, a bit, I have seen the ups and downs of two cycles
Crypto space is still one of the most exciting industries to work in and the most interesting people to work with
Alice:
Haha I agree. Let’s hear our next question!
Bill:
sure
Alice:
Can you briefly introduce Wondera and what are some of the utilities of : $VOICE & $WONDER ? How do you think you stand out among the competitors if there are any?
Sure!
I think the main difference between us and other similar project is that we are designing our tokenomics to be sustainable, and our product to be ready for mass adoption.
For instance, our app uses a freemium model, new users do not need to buy an NFT to start their journey nor does the app require users to have or create a self-custody wallet to enter
User can start playing, singing and socialize right away and earn their way to free mint an NFT which will allow them to earn token rewards on the platform. They can also buy one to save time and efforts. It’s only when they need to withdraw token rewards, they need to create a wallet which will be integrated within the app.
$WONDER or WDR will be our main utility token. User earn WDR can be spent on buying NFT on Wondera store, to make upgrades and repair, and pay for various fees on the platform and to tip other users for their contents
WDR is also used to pay for advertising on our platform which creates external demand for the token
Alice (NEVER DM FIRST)
Cool👍
Bill:
$VOICE is envisioned to be our governance token which will give user a number of decision powers within the platform, other benefits and will be limited supply. We plan to release more details within the whitepaper before public beta launch
Alice (NEVER DM FIRST):
Thankyou Mr. BILL for the well detailed explaination about $VOICE and $WONDER
Bill:
You are welcome
Alice (NEVER DM FIRST):
Let’s discuss about roadmap
Can you share the achievements the team has made so far ? what are the major achievements that are yet to achieve . If possible also share your roadmap.
Bill:
sure
We started the project in July of this year, have raised pre-seed funding from a number of Wall Street executives, Web3 investors and entrepreneurs who are friends of the founding team. We are completing the MVP product next week and plan to start a small internal testing for the rest of Nov. We are also working on our branding and about to be done soon as well, then our website to be release later this month. Our NFT designs are done as well, and they look amazing. The team has been working tirelessly on product development, designing better and sustainable tokenomics, as well as working with artists and singers to support Wondera. There will be another around of closed product testing which the general public can start participating in Dec
We have kept our public profile low so far because we want to make sure we can develop something really good. We don’t want to promise the moon and then can’t deliver. We don;t want to launch another project to go up and down very fast. We want to build some of an example which is of our best intention and efforts
A product what is fun, open access, rewards its own users for their valuable behavior with real yields and also our early supporters with special rights and advantages
Our public beta launch and testing is planned to be in Q1 next year
Tanmay | CHALLΞNGΞяS:
🚀
Alice (NEVER DM FIRST):
So much progress in just few months
Tanmay | CHALLΞNGΞяS:
Many more things to come 🚀
Alice (NEVER DM FIRST):
Wow
Tanmay | CHALLΞNGΞяS:
I see lots of achievements to come 🔥
Moving on…
Could you share a bit about security and also what benefits you provide to incentives users choosing Wondera?
Bill:
What do you mean by security?
Tanmay | CHALLΞNGΞяS:
like security measures and how secured is Wondera
Bill:
Sure
The Wondera app is centralized, our tech team used to work for centralized crypto exchanges, so we are pretty confident on the centralized part. Our app will integrate a decentralized wallet developed based on the Metamask code, user can use the self-custody wallet to store much of their assets or earnings.
Our token will also be supported on multiple chain, user will be able withdraw to multiple different chains similar to a centralised exchange’s account wallet
We also have very experienced smart contract developer within the team who had built large defi projects in the past. All contracts will also be reviewed by securities agencies prior to launch. Since we don’t do decentralized bridge that also avoids a lot of risks
Wondera plans to rewards it’s early community and users in many ways. For instance we have some special NFTs planned for early community to free-mint (rules to be revealed soon) and to free mint a number of NFT microphones by singing in the private beta testing
Early users will also be able to help vote on many early decision for Wondera within the community
and help shape our path and to be rewarded NFT, tokens and others for their participations
Tanmay | CHALLΞNGΞяS:
I see
there are many benefits for early users
cmon guys, don’t miss it :)
Lastly, What’s the total supply of $VOICE & $WONDER ? Could you share a detailed tokenomics of mainnet token’s supply distribution?
Bill:
The utility token will not have a supply cap but it inflate progressively based on platform revenue generation and user growth. Since we use reward pool model, user competes to get bigger share of a fixed pool which replenished periodically, it is not possible to hyperinflate. It is our intention to keep the value to the utility token fairly stable even with appreciation over time, rather than the big pump and dumps which are rampant in the industry. The trick to this is external revenue or demand for the token, in a super simplified model, let’s there are two users each purchased our NFT microphone for 100 dollars then there are 200 rewards, but since their are other revenue such as advertising, fees and user social spending, the pod will be $300, everyone can makes more rewards then they put in. Obviously there is also user growth, but it’s an oversimplified explanation that our model can provide real yields, it’s not a zero sum or negative sum game between users
Regarding the governance token, we will released more details in the future since it won’t be launched right away. We want to get the app and economy well tested first. But I can say that it will be of industry best practice, most will be reserved for protocol development.
Tanmay | CHALLΞNGΞяS:
Awesome! That’s the end of our introduction segment :)
🗣 Introduction segment — END
Few questions will be asked by the host.
✍️ Twitter segment — LIVE
Few questions from the Twitter post.
💬 Live segment —
People will ask their questions on live and 5 questions will be selected by the guest.
It’s time for our Twitter segment. @Wondera001. So, are you ready for the Twitter segment?
Bill:
sure
Tanmay | CHALLΞNGΞяS:
COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Are you still on track to achieve your goals or are you planning a new development?
Bill:
COVID 19 has accelerated crypto adoption imo, I think it has been overall non-negative for the crypto industry
We are on track in our development. That said, it’s much easier to copy past than it is to innovate even small amount, so I hope that community can be patient with us.
Tanmay | CHALLΞNGΞяS:
yeah, it was positive for most of them I guess
many users got the opportunity to enter crypto in the covid
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the wondera official competitive advantage your project has that you feel most confident about wondera official?
Bill:
(1) Our freemium model: we have two types of NFT microphones, one called Mockphone which is freely airdropped to every new users, and Wonderphone which users can buy or earn with lots of efforts. This allows us to keep lost barrier to entry and accommodate web2 users to join, and to allow users who can’t afford an NFT right away to play and progress based on merits, (2) singing is fun and produces lots of contents which allows our platform to sell advertising to generate external demand for its tokens, (3) Wondera has a very well round team, from crypto exchange Huobi, top music industry veteran in Asia, ex-executive of Tiktok and a strong and fast tech team
In terms of features, user will discover lots of new music from quests and challenges, and be able to make friends and get fans and be rewarded in social settings
We are releasing the first iteration of our Litepaper as well, more features will on there
Tanmay | CHALLΞNGΞяS:
That’s great that you are allowing web2 users to join your platform with no investment :)
Bill:
Our goal is to onboard the next millions to web3
Tanmay | CHALLΞNGΞяS:
HUGE!!!
Bill:
And the platform should be a meritocracy
Tanmay | CHALLΞNGΞяS:
The name “Wondera” Sounds interesting
Bill:
It is a combination of wonderful, wonderland and pandora
Tanmay | CHALLΞNGΞяS:
So, Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
Bill:
We want the platform to have broad audience, to be come a leading social entertainment platform, and to represent something
a new world, an ideal
We say Walala for hi, and we call our users Wonderans
To sing in front of others, one needs some confidence, because no one is good from the beginning, so to be a singer is also to be shameless, like Elvis Presley
As mentioned earlier, Wondera is composed of a well round team from Web3 industry, the music entertainment industry and social media companies such as Meta and Tiktok
We are geographically located in the US, Singapore/KL, and Lisbon
Tanmay | CHALLΞNGΞяS:
Wolala haha funny one
yeah that’s true
moving on…
Tanmay | CHALLΞNGΞяS:
How does the project increase the value, liquidity and usability of tokens? So that it can increase the price of tokens? What are your klong-term plans with tokens to stabilize your project?
Bill:
I think the key is to build a great app that user loves to use with or without the rewards, many projects in gamefi and socialfi focuses solely on the earning aspects, rather than core experiences. I think to be successful, we need to provide users with great experiences first. Our goal is to control inflation in a way that is below the rate of user and token spending growth, so that it can slowly appreciate in value
We will provide use cases for the token especially within social settings and with third parties, and provide liquidity incentives to liquidity providers. One of our co-founder was from the listing team of major exchange, so we have that part covered with lots of industry connections as well
Tanmay | CHALLΞNGΞяS:
that’s right
Great! So, the tokens will be listing on major exchanges as well 🤩
Bill:
Potentially
Tanmay | CHALLΞNGΞяS:
I read that Wondera aspires to become an industry leader taking advantage of the most popular forms of entertainment around the world: singing and karaoke, but how can it really compete with so many singing and karaoke projects and applications that we find on the market?
Bill:
Great question. we are very happy there are many projects in this space. it really shows that there’s great potential.
Our team are very experience and very well rounded. We are international and well connected in the music/entertainment space. There would be many exciting news/collabs and exclusive music and contents coming up. Also we want to build a sustainable model which many of the other competitor projects are not thinking about. I think we will be here to stay while many won’t be here for long.
That’s end of our Twitter segment
Thanks for answering all the questions from Twitter!
Bill:
Thanks
🗣 Introduction segment — END
Few questions will be asked by the host.
✍️ Twitter segment — END
Few questions from the Twitter post.
💬 Live segment — LIVE
People will ask their questions on live and 5 questions will be selected by the guest.
Part 3: live questions from the Telegram community
Q1 from Telegram user — @laaf0
Can you tell us a bit about private beta test eligibility and genesis NFT mints? will we really even have a chance to participate in it? Or are their test versions really available and operational?
Bill:
We are currently designing a system where we will rewards points for any community contribution and the points will grant you free mint access to exclusive NFT which then you will get beta test whitelist spot to win real reward pool and airdrop, in app benifits etc. We will be releasing the rule in our group in the coming days. stay tune!
Q2 from Telegram user — @Lyf_Seeker
Bill:
Because of the nature of our product — An entertainment platform. If the product is fun people will sing through bull and bear market, with some countries still in covid lockdown. I think wondera will be a good platform for these people to play, have fun while making cash. It will help us expand on the adoption.
Q3 from Telegram user — @alice_wonderland12
⚡️⚡️ WONDERA is an ecosystem that offers events to the community. What are the events that you hold? and how do you participate in them?
Currently there are two events we are currently hosting. first one is the singing contest which we will select the wondera idol and winner wins $500 rewards plus access to beta test. Second is that we just release our litepaper and have a quiz gleam campaign for reward. We also have a lot of exciting events to come
Q4 from Telegram user — @Shakil2799
How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
We have a very diverse team. We have serial founder. Another founder has 20 years music entertainment experience in the industry and another seasoned founder from crypto exchange background plus many advisors, Including wall street exc, major star music producer, high level partner from tiktok, marketing director from famous film etc
Q5 from Telegram user — @john561
Does your platform only reward English Singers? Can a local singers of different languages get reward too?
We will support many languages
We currently have a music library of over 100K songs and has song tracks in English, Mandarin, Korean, Thai, French and spanish
Tanmay | CHALLΞNGΞяS:
5/5 ✅
And that’s the end of our Live segment! Thank you for those enlightening answers for the community ❤️
It’s time for Wrapping Up, any other things you want to share with the community? Bill :)
Bill:
Thank you for listening, please check out more information about our project in our community chat. We will release more details going forward including how to get access to our early supporter NFTs and how to participate in private beta
we are not setting a specific date yet, but currently shooting for Dec and Jan, there may be two rounds of beta event
there will be token rewards as well as NFT drops to top users on the leaderboards
thank you all for your time, feel free to contact us for more information
Tanmay | CHALLΞNGΞяS:
Thanks for attending the AMA ❤️
Chat if you still have some doubt or questions please head to Wondera’s Telegram Community to ask questions:
On behalf of the Crypto Challengers Community, we would like to thank you Bill :)
Thank you so much for spending time with our community & all the very best for “Wondera”! 🚀🚀🚀
Thank you so much! Goodluck to Wondera 🚀
AMA Concluded.
