Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with FAITH TRIBE — 18 February, 2022. This guest star,
- Elisha Patel — Project Manager, Faith Tribe, Luna PR
Hey guys, I’m Elisha and I’m Faith Tribe’s Project Manager
What is Faith Tribe? What was purpose built Faith Tribe? Give us a simple overview vision and mission?
Faith Tribe is an open-source platform for the creation, design, minting, customisation and distribution of digital and physical fashion items. We are decentralising fashion in the metaverse, but NOT putting a hold on our focus in the physical world, Faith Tribe’s mission is to empower, reward & unlock new opportunities for every creative voice. We believe a global pool of talented creators are still facing so many challenges to stand out, due to fierce competition, lack of resources and headwinds in business environments. Faith Tribe’s aim is to eliminate these barriers and wishes to disrupt the future of fashion through this powerful hub of open creativity. The project was launched by the famous luxury fashion brand, Faith Connexion, and is built with the latest blockchain, Web3 and NFT Technologies. In addition, we are launching a $FTRB token that will stand as a unified currency for the community and various components of the ecosystem.
What are some problems/pain points that Faith Tribe aims to solve? What solutions are offered?
So we are the only player that is doing both physical and digital because all our physical competitors don’t do open source and don’t allow collaboration or other designers and independence to come into their ecosystem.
In the metaverse, yes there are many other digital studios, but we are the only ones who are also making noise in the physical world and opening this up to our community. We have used our native brand as inspiration — we have the factories, the sourcing of leather, tweed, knitwear, relationships with ecommerce sites and fashion tech companies, the best guys that do NFT and NFC minting, the on demand manufacturing. That’s the entire ecosystem and that’s the opportunity. Think of all the designers around the world that are able to be part of our ecosystem and put them into the business of high end fashion in a matter of weeks. We want to showcase to the entire world that existing fashion companies ARE able to pivot into the world of Web3, and, very successfully.
Without us, where can independent designers who don’t have the tools and connections go? THAT’S the problem we are solving. Designers can come to us to collaborate with us, or if they want their own brand, we will take royalties from their profits!
Could you share a bit about tokenomics, utility and distribution $FTRB Token?
In terms of tokenomics, 75% of all the tokens in circulation over the next 10 years is going back to the community. It’s going to designers, artists, influencers, bloggers. It’s going to people who are going to be part of the community doing the whole governance structure, of voting of which products are the most worthy in terms of us wanting to promote. It will go into our e-commerce marketplace that will be truly unique for Faith Tribers. So holders of $FTRB will have the right to participate in product strategy and leadership decisions. The bigger purpose of FTRB is to reward every active creative voice participating in our community, by allowing them to mint, join our NFT Marketplace to sell their work and earn royalties. $FTRB will also allow staking to enable designers to borrow tokens for usage in the ecosystem. Finally, it’s going to give access to our own fashion shows, our own pop ups all over the world. Again, all about empowering the independent designer and the independent artist.
In terms of distribution, our launching price is 0.01 usdt and we will be staggering the exchanges that we will be on. However, I’ll say 2 for now; AscendEx and Bitmart, but keep your eyes peeled for a Press Release on Monday announcing all platforms that we will be on!
Who are Faith Tribe current partners and backers?
So of course, our brand partner is Faith Connexion, but we also have a number of partner funds; Tyregate Capital, NFT Tech, TLF Ventures and The Luxury Fund. Our Technology Partners include Define Labs, as previously mentioned, and also DressX, Platform and Legitmate. Our backers are a Private Equity Firm and major blockchain VC’s.
Can you share about Faith Tribe roadmap? What is the strategic plan in the future?
I’m going to share a screenshot of our roadmap as its more visual but our next major thing is our IDO next week!
You can start trading 24th February and we’re already seeing amazing results in our launchpools .We are then going to enter the world of fashion. We will hopefully be involved in the Miss Universe in Puerto Rico, Ms Mundo, followed by Paris Fashion Week, followed by Meta Paris Fashion Week and various conferences all over the world, including Paris and Dubai. Finally, we’re going to be doing a huge roadshow for all the universities and fashion institutes around the world in order to onboard some of the greatest designer minds into our ecosystem. So there’s A LOT to look forward to!
It seems Faith Tribe can link fashion design and production with NFT and blockchain. My question is very simple, revolutionary style as you apply to this concept? And can you tell us how you’re going to get decentralization into the real world?
So we are an open-source platform for the creation, design, minting, customisation and distribution of digital and physical fashion items. As I said earlier, we are the first fashion company to be entering the physical and digital world. Something really cool about Faith is that the physical Faith Connexion clothes are going to be priced in $FTRB, so you can actually buy real clothing with your tokens. The tokens used to buy then be burnt, which creates a deflationary effect. This is ultimately a benefit for ALL token holders!! And so given Faith’s application, this brings crypto a step closer for people around the world to using CRYPTO for their daily needs in the real world. This will allow for more mass adoption, as we are backing crypto with real world assets and utility.
Faith Tribe is an open source platform for the creation, design and distribution of physical and digital fashion items. How will you address security if an open source system compromises data security? Do you have measures in place to protect the security of your data?
We have had 2 external audits of our smart contract; Certik and Amnesia. You can see this all on our website! We know how important it is to be audited by the creme de la creme of companies. We are a 21 year old brand, and we cannot be sacrificed. We want the best of security and the best of privacy. We are fully regulated! We’re a French company — we have to follow the GDPR rules of Europe! Everything we’re doing is really aimed at being secure and Grade A. We’re a long term, established company coming onto the blockchain so we know the importance of these sorts of things.
I see that the “Creative Tribe” will get royalties from the sales of each fashion NFTs within your platform. Who are the members of this Creative Tribe? What is their role into your ecosystem?
The Creative Tribe involves the whole community of fashion designers, artists, micro influencers, small brands — anyone who will be part of our platform and will be able to create, mint NFT’s and sell to a population of buyers on the marketplace.
Designers and artists can work collaboratively or independently through the platform to create their own designs or customize existing Faith Community designs. But exactly what requirements does an artist need to meet in order to join the Faith Tribe platform?
Very simple! There’s no criteria, we’re open to anyone who would like to express their creativity and become a fashion designer!
$FTRB token will be launched on February 24th, can you share about upcoming public sale? About initial price that will be offered at public sale, how much allocation tokens sale, whitelist period and which platform is holding it?
Yes! Trading starts 24th Feb and we will be staggering the platforms that are holding it. Our launching price is 0.01 usd. As mentioned earlier, AscendEx and Bitmart are 2 of the platforms that will hold $FTRB, but keep your eyes peeled for a Press Release on Monday announcing all platforms that we will be on!
Can you share your social media links so we can keep ourselves updated???
Please everyone join our telegram — we have some great competitions and airdrops coming up and this is the first place that you will hear about them. VERY soon, we will be announcing a competition that could win you a trip to Paris Fashion Week, fully paid for by our team!!! — https://t.me/faithtribe/
Then Instagram — https://www.instagram.com/faithconnexion/
Twitter — https://twitter.com/RealFaithTribe
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?
This is a great question! As well as COVID, it’s no secret that the crypto markets are also really not in our favour. But we are getting a lot of demand for our product because of this unique characteristics and because of its defensive characteristics. People have been telling us that is the ‘worst time’ to enter the crypto world, but we actually don’t see a better time! Our Founder, Wahid Chammas has been investing for nearly 30 years so has been through SO many market cycles and knows what works and what doesn’t. We have a sustainable business model where we are creating profits and economic values, and giving people a change to not just create beautiful things that they can flaunt in real life, but also in the Metaverse and gaming! With the market that COVID created, and the current market, this is a really cool thing to do! You can peacefully sleep each day because you know that value is always being created!!
We are in the business of creating ever more productive assets!
This project is a great idea, because audits can be expensive. But in terms of Marketing, how do you plan to make FaithTribe known globally? How do you convince users and projects that they feel safer with regular audits?
We know how important marketing is and we are working with more than one firm to ensure that our marketing is on top form!! With constant articles, Medium blogs, social media posts and campaigns happening, we KNOW that Faith Tribe will be known globally. We have something HUGE happening on Monday, so I would definitely say to keep an eye on our social media…unless you’re in a particular US city👀 As I mentioned, we are always holding global competitions to increase awareness of the project, but most importantly, we have to link back to Faith Connexion. We have SUCH a successful clothing brand that has been worn by Rihanna, Gigi Hadid, Kanye West, Off Set, Jaden Smith (just to name a few), so if you are interested in their fashion and follow our instagram, you will automatically be drawn to find out more about Faith Tribe!!
Where i can get all the latest news about ? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?
As well as our social media pages which I have already shared, you can follow/subscribe to our Medium page, which is how we properly like to update our community and just inform you guys in more detail! It’s great because it will email you when we upload a new one so you can read it on the go whenever you have time! — https://medium.com/@FaithTribe
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?l
Faith Connexion is a 21 year old company, so we have been in the business of fashion for a very long time. We have pioneered open source fashion as we are very inclusive, unlike other big high end brands, which promote themselves as being exclusive. We allow designers and collaborators from all walks of life to be able to contribute to our design, our fashion, and individualised different items. We are allowing designers to come onto our platform and give them the tools to design clothing, followed by our ability to mint their NFTs, physically and digitally. We will then manufacture the item, and then market their product and sell it on our e-commerce marketplaces and also on the Metaverse/in-gaming. NO other luxury fashion brand has entered the digital world as well as the physical in the way we are, and NO other brand offers the level of inclusivity that we do! All other luxury fashion brands brand themselves as ‘exclusive’, and we totally disagree! We are so proud to include all walks of life and THAT’S how we stand out above everyone else
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