Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with nOFTEN 28 March, 2022. This guest star,
- Nipoon Agarwal — Project Advisor
nOften started with the initiative of the team to capitalize on their strengths and years of experience in the entertainment industry.
The team wanted to create a solution that helps fans connect closely with their favorite celebrities.
Thus, they started with the NFT Marketplace which is designed for Premium exclusive NFTs and will also launch the nOften Land which will be a Virtual universe bridging the gap between their vision and reality.
I just got into cypto since 2019.
What kind of income model and profit mechanisms do you have for Celebrities, Artists and Creators in the nOFTEN? Can you talk about nOFTEN ecosystem, do you have the features that can attract users and invest, can you talk about your differences that allow you to stay in this market for a long time?
nOften is made for the community Celebrities, Artists, Brands and their followers/users alike. It has a standard 5% platform fee for everyone. Land sales are a whole different concept though and will be introduced soon. nOften is not just another NFT Marketplace.
It started off as a goal to help merge the massive gaps between celebrities and their followers but is already doing very well. nOften will push out Phase 1 of the nOften Metaverse for its massive community and allow them to create a universe for themselves with their favorite brands.
What is the nOFTEN token? What are the use cases in your ecosystem? What are the benefits of holding your token as long term investment? Also share with us about your tokenomics?
NOF is the ticker for the Native token of the nOften platform.
Although people can buy assets on the nOften ecosystem using ETH, BNB and USDT, NOF provides exclusive discounts for the same assets thus creating an intrinsic value.
With nOften Land Launching Phase 1 soon, NOF’s utility is only going to increase and with only 500Mn tokens in overall supply, the demand is going to surpass the supply thus inflating the cost per token.
nOften is a heavily self-funded platform and thus only a marginal percentage has been diluted till now which protects the project dump and is currently maintaining the token value of around 0.4 USD.
For more detailed tokenomics, please check out: noften.com
Who are nOFTEN current partners and backers? What’s role of your partner? What kind of partner is suitable for nOFTEN?
nOften has made some exclusive content partnerships with Celebrities around the world.
Singers, Rappers, Models and Artists have provided exclusive rights to their Content to nOften which has then been converted into Exclusive Art by the nOften team.
We have a few partnership models, from Growth Partners which helps with Partnerships and Collaborations for attracting new Buyers and Artists, Brand Ambassadors who are influencers with a strong follower base who will speak at public events and be the face of the Project.
Please inform nOFTEN roadmap and also what phase is currently taking place? What will happen in near future?
nOften has launched everything before the targeted timeline, just like the estimated platform launch and even exchange listings.
nOften will be launching their own Metaverse very soon and have been aiming to get a Tier 1 listing closed by the end of next month.
Lots to look forward to including onboarding new artists, brands and building their universes in the Virtual world.
You can check the latest updates on the nOften Communities and Social Channels.
I understand that nOFTEN brings a platform for artists & celebrities. So, new artists who don’t yet have a huge following, will there be any chance to show off their art on nOFTEN? As artists, what requirements do they need to meet to be able to create good NFTs in your platform?
While initially, we did have a very strong requirement before we release any NFTs of any artists. But that was prelaunch but at the moment our Platform is open. Still curated but open.
Artists and celebrities with little or no following can also join the nOFTEN family and promote their NFTs.
They simply need to visit the website or if they need help, our communities are very active!
Why is nOFTEN relying on the Etherlite blockchain? What are the benefits it will bring to the ecosystem? Why didn’t you rely on Solana Polygon or BSC? Or do you intend in the future to include them?
We evaluated a lot of them at the start and Etherlite has very strong support, really fast transactions and the lowest transaction fees.
We wanted our users to have that leverage from the very start. Solana is not EVM Compatible and while the others are popular, they are still slower with higher transaction fees as compared to ETL so the choice was pretty logical.
In the future, we may add bridges for liquidity migration from other chains. It is a part of our roadmap.
The nOFTEN Foundation will receive 10% of your token supply. Can you tell us what this foundation’s role is in your ecosystem and overall project?
The idea of the foundation is to act as an Incubator on the nOFTEN land. To support and enable new partnerships and collaborations to grow the entire ecosystem. At the moment, the team is sourcing for these key foundation members (Industry experts) who will play a critical role in the future of the project.
The problem with the NFT platform is that artist/creators work is often stolen/copied. What do you do at nOFTEN to ensure that the work of artists and actors is not stolen and copied? And what will nOFTEN do to help artists sell their NFTs for real value?
Plus, we also have an internal screening committee that is very diligent and keeps the NFTs listed in check.
A few days ago nOFTEN NFT launched its ambassador program. What is the profile I should have if I want to be part of your amazing team? What qualities are you looking for in an ambassador of your project?
Oh yes.. Like I mentioned earlier..
People who have been in the space and have a strong follower base. Basically, we want people who know what nOFTEN is and can actually contribute to it as a part of the team.
We want strong personalities who can represent the Project at public events when hosted or invited to.
This art will be sold on Crypto, and I don’t want to keep Crypto. I want money in my local currency. Therefore, can I trade it on an exchange and convert my crypto earnings into my real currency?
Yes sure you can. Check your local laws.
nOFTEN is a celebrity fan-centric NFT marketplace to cater to both established and rising artists. is it open to Celebrities of all fields? What are the artist requirements to be part of the nOFTEN platform? and What benefits do Artists get from the nOFTEN platform?
Yes they can. Anyone from any space. Although the platform curators do check the quality of NFT but it is open to all.
Today the NFT market is growing with celebrity themes celebrating freedom of expression for artists and turning them into valuable digital assets. So, how does nOFTEN allow artists and celebrities to show their individuality & share it with their fans via NFT Celebrity?
Excellent Question.. Yes by all means. While the whole NFT Market isnt doing exceptionally well. It is going to be a huge boom with Metaverse Integrations. Thats the plan.
What does an artist gain from this? What’s in it for NOFTEN? How much will the creator charge? And How do I know how much of my art has been sold?
Platform fees are 5% so the creator get 95 and all the stats and updates are available on your profile on the Noften website.
As a new small investor on cryptocurrency market and projects I would like to know if your project is just for elite investors or is it for almost anyone to join in ??
Anyone can join.. Noften is a community-driven project.. You can buy NOF from Lbank directly at the moment.
Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching to this name?
The idea was to showcase something that you don’t see very often.. Thus Not so Often. Noften. These exclusive curated NFTs on Noften are very limited edition and not available anywhere around the world.
Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about nOFTEN.
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