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AMA RECAP: FAYRE x ONESHOT VENTURES

AMA RECAP: FAYRE x ONESHOT VENTURES

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On 16th December, ONESHOT Ventures has a Telegram AMA with FAYRE.

At the AMA: Luis Carranza – Founder of Fayre, introduced and shared many interesting information about Fayre.

Great, the AMA will be happening as follows:

Part 1 : Introduction
Part 2 : Question from Twitter
Part 3 : Questions In Free Asking

ONESHOT: Alright, for the first time you join with our community,let’s get to know you and a bit about your project, can you tell us where the idea came from for Fayre?

FAYRE: I have a background in marketing, bachelors in Mass Communication (advertising), Masters in brand management. I have been in Crypto since 2013. So Fayre is a combination of everything I’ve been working on for the past 15 years.

In 2008 I came to the UK as a digital strategist to help brands enter web2, social and mobile. I see a lot of similarities with brands entering web3 so it was a natural fit.

I’m also from El Salvador and noticed that crypto adoption is booming. My co-founder Fernando is from Venezuela where crypto adoption is high, so we had to put some attention to Latin America since many other projects focus on traditional markets.

So Fayre is a mix of everything we love. It’s a marketplace, brand dashboard, there will be metaverse and play2earn. It’s a gateway to web3.

ONESHOT: Thank you for your introduction

Could you please tell us the strategy to attract new users, motivation and benefits for traders & investors to hold $FAYRE token for long-term? We’d love to hear more about the utility of the $FAYRE token.

FAYRE: We’re working diligently to bring on board the next 10 million NFT holders. The plan is to work with brands, celebs and sports which have an active fan base. Instead of creating limited amount of expensive NFTS to start we’re asking them to create free or low cost NFTS and operate as NFT fan activators. This puts the value and utility in the hands of the brands and allows for more people to benefit.

So the formula for attracting new NFT holders it to make NFTs from the brands they love

The formula for the market is to keep the fees low and make it more of a community

Fayre will have Social-to-Earn, so you can follow like and do other activities and communities to in Fayre. This is coming in Q2

So we have an ambitious roadmap with a lot of value for $fayre holders and people who own Our FayreCard NFTs

ONESHOT: The NFT market is booming, and its utility is becoming increasingly popular as a result. Only a few platform games, however, can boast of work that includes contest items; is Fayre one of them? How serious are you about creating something that players want?

FAYRE: Gaming and Play-2-Earn are big in Latin America and a big part of our roadmap

We have a few metaverse projects in early development

One is called 0.land, which is a metaverse DAO that starts with the NFT real estate and users determine the future of the project. $Fayre will be required to purchase the real estate and be the currency of this metaverse and holders of Fayre will have first rights to purchase. Land owners can then build games or retail enviroments or just places to hang out…

We also have a Spanish language metaverse which we’ve never really talked about. This is at least a year away. But Microverso, will be more of a playful metaverse focused on gaming. So players and creators can all enjoy, but we also expand the Fayre ecosystem

ONESHOT: And what about tokenomics… could you tell us a little bit more about that?

FAYRE: Our tokenomics have had mixed reviews. When we designed them, we wanted to treat Fayre as a long term project, so the opportunities to speculate on price are reduced, which isn’t ideal for some, but for those looking long term, we think it works.

If we had to start over we would do things maybe a little different, but we are moving forward and making great progress. Already 3.8m raised so they seem to be working ok.

Expect some minor adjustments, but for the most part that’s our Tokenomics. I have a 6 month cliff and 36 month vesting, so I’m in it for the long term

ONESHOT: Is there any bullish information that hasn’t yet been made public that you can share with our community for ‘exclusive’ news before we wrap up and offer the floor to the audience?

FAYRE: So we’re signing a major sports team this week. We’re in talks with a major equestrian racing group, responsible for many large events. We’re talking to major recording artists. So when contracts are signed, we’ll share. The first contract expected this week. And the 0.land and Microverso metaverse concepts are new as well.

So lots of stuff coming. We haven’t full talked about social to earn, but we will soon.

ONESHOT: That was some questions in order to introduce about Fayre

Now, we’ll answer the questions from Twitter for more details

Shall we go ?

FAYRE: OKE

ONESHOT: The first question

I learned that Fayre is an NFT club for creators, so can you tell me some features, benefits and security of users’ information and assets so they can pass it on to you safely?

FAYRE: Safety is important. File storage will be on IPFS, and most of what we do will be protected by CloudFlare to protect against DDos attacks. We’re still working on the Token smart contracts but will share the results of security audits publicly when ready.

We also are whitelisitng creators, so that we don’t get a high volume of fake accounts or NFTs.

ONESHOT: The second one

What do you think about future of NFTs? Will it create a new world or new job for people in future? And what can Fayre do to support it if they really have the potential?

FAYRE: We already see many artists quiting their jobs and making a living with NFTs. People in parts of the world are earning a living with Axies so we know its possible and we believe this should happen. Metaverse jobs are going to be big, which is why we plan on building more than one metaverse project. It’s a big part of our mission.

A lot of people became creators and influencers in Web2 social media. Lots of jobs were create

Web3 is even bigger jobs opportunity

ONESHOT: What is the USP of Fayre that makes is different and special from other projects?

FAYRE: We have a lot of cool features

We are looking at an ecosystem. Our marketplace is cool, but made better by brand dashboard. Our brand dashboard lets you manage NFT communities.

The dashboard is nice, but the Companion App lets you use NFTs in retail and stadiums to do activities. You can even “spend” NFTs

Here’s a demo video of the app. It lets you use NFTs in the real world, giving more life to nfts and new use cases

And that’s nice, but the metaverse elements go well with everything we’re doing.

So we don’t have one USP, we’re doing lots of things different, we see ecosystem as important and that makes us behave different.

ONESHOT: I see you have planned an NFT marketplace with 0% transaction fees. Is the marketplace live yet? Also if you plan on making the marketplace 0% transaction fees, how will you get consistent revenue from the project? How feasible will it be?

FAYRE: The marketplace isn’t live yet. We’re still testing. So the fee structure works like this

We have 1% transaction fees if you want to use the market and buy or sell.

If you buy a FayreCard NFT for $20 you get zero transaction fees up to a certain value. a $2500 Fayrecard will make all transaction fees zero. You can also reduce fees to zero by holding $Fayre

So zero transaction fees are for members. It’s a different business model, so we also have to earn revenue from NFT drops that we do and from other metaverse projects and land nfts in the metaverse

ONESHOT: Last question

We know that the widespread adoption of NFT is revolutionizing the way many systems operate today. So what are the systems #Fayrelab implements in the future that makes them stand out in today’s NFT markets? What are the rewards or advantages we get from your ecosystem?

FAYRE: Our fee structure is competative
Our NFT membership program adds value
We’ll introduce staking in 2022
Fayre will be currency of 2-3 metaverses that we’re building
Fayre will be part of several p2e games

We’re following all the trends and helping to create some. We have some land in Decentraland and Sandbox, so we also plan to play nice with other systems in place. We’re a marketplace like your iPhone is a phone. The phone part is one element of something much more useful. Our marketplace is part of something much bigger. I hope that last part makes sense.

ONESHOT: Ok, thank you for your sharing !

FAYRE: Thank you for having me.

ONESHOT: We have received many question from everybody but we just can answer some of them because of time

Alright, let’s move to last segment of today, everybody will send their question and our guest will freely choose 5 of them to answer.

COMMUNITY: Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?

FAYRE: We’re hoping to have product live soon. We also have brands coming on board. We’re not a high tech protocol or chain. We’re a market with users so a lot less complicated to launch.

COMMUNITY: How does project increase the token’s value, liquidity and utility ? So that it can lead to an increase in token prices ? What is your plan to make your project stable and provide the highest return for investors in the long term ?

FAYRE: Our project aims to build long term utility. It’s useful in the market for fees but will also be default currency in several metaverses over the coming months and years.

COMMUNITY: Many projects start but get stuck along the way, could you tell me if you plan to stay active and offer projects and opportunities to the community in the long term?

FAYRE: Our project mixes brands and celebrities. We plan on having weekly drops from recognized people and brands. This is how we remain relevant in pop culture.

COMMUNITY: What is PROJECT’s revenue model? In which ways do you generate revenue/profit?

FAYRE: We have market fees (very low)
We sell our membership nfts
We sell licensed nfts
We earn commission from brand launches
We will sell metaverse real estate

COMMUNITY: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?

FAYRE: Yes. Some governance and voting will be part of token.

COMMUNITY: Are there any plans to create a token project under the name FAYRE in the future? not only develop the NFT project!

FAYRE: $Fayre token is what we’re launching in 2 months

FAYRE: Please follow us on telegram https://t.me/Fayre

ONESHOT: Thank @FintechUK for sharing with us today!

Ok, chat unmute now guys!

 

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