AMA Recap: Faith Tribe with Crypto Library
On 28th December 2021, Faith Tribe conducted an AMA in the Crypto Library Community. The Faith Tribe team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community.
If you missed the AMA in person, read this recap for a deeper insight into Faith Tribe.
Let’s take a look at the most interesting points of our conversation.
Crypto Library Team: So, before we start the AMA could you please introduce yourself to our community?
Faith Tribe: Sure! I’m Tarek, head of marketing at Faith Tribe. I will be happy to introduce you to our new project and answer all of your questions today.
FIRST SEGMENT (HOST)
Crypto Library Team: What is Faith Tribe? And what is your vision, mission, and motivation to create this project?
Faith Tribe: Faith Tribe is an open-source platform for the creation, design, minting, customization and distribution of digital and physical fashion items. 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 the business environment. 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 is launched by famous fashion brand Faith Connexion and is built with the latest blockchain, Web3 and NFT Technologies. In addition, we are launching a FTRB coin that will stand as a unified currency for the community and various components of the ecosystem.
Crypto Library Team: What services and features are/would be available on Faith Tribe?
Faith Tribe: Faith Tribe is a digital creative platform boasting a virtual designer studio and an NFT Marketplace. The virtual designer studio will be at the core of the experience and will gather the most innovative features such as 3D to allow creatives a great user experience. On the designer studio, anyone will be able to :
- Create & collaborate on outfits
- Mint design NFTs on physical or digital assets you create, and set prices, royalty fees, distribution rights
- Manufacture & Fund
- Track sales & distribution of assets
The NFT Marketplace will be connecting this creative tribe to a population of buyers. It is where our creators will be able to sell their masterpieces and feel rewarded by earning royalties.
Crypto Library Team: Please tell us about $FTRB token! What are the token use-case, distribution, and how to buy/get it?
Faith Tribe: The Faith Tribe coin will stand as a unified currency to bring our community together, and confers every holder the right to participate in product strategy and leadership decisions. Yet, its bigger purpose is to reward every active creative voice participating in our community, by allowing them to join our NFT Marketplace to sell their work and earn royalties. Last but not least, you will be given the right to purchase digital or physical assets at a discount rate from both our NFT Marketplace and Faith Connexion brand store. Faith Tribe coin is in short a real utility coin which collateral can be physical fashion. The coin is mainly dedicated to our community, as they will benefit of 75% of the total token allocation. Please note that Faith Tribe coin is being audited by Certik, and will be available for public trading in January under $FTRB, on different launchpads.
Crypto Library Team: Could you give us some information about your roadmap, your milestones, and also your future plans?
Faith Tribe: We are currently building awareness through the Faith tribe launch and of course, community outreach (which includes the launch at soft launch event we did at Art Basel Miami and the token mainnet). Part 2 is Q1 2022, which includes the product launch with platform development and DAO activity. Part 3 for now is from 2022 to 2023. It’s more about integration and scaling with designer studio development, third party marketplace integration, and liquidity pool launch for crowdfunding. In the meantime, Faith Tribe will benefit of a strong presence in every major fashion events such as Paris Fashion Week.
SECOND SEGMENT (TWITTER)
Crypto Library Team: In phase 2 of your project roadmap, support the staking program. how does your stake system work, what are the requirements for users if they want to stake on your platform?
Faith Tribe: As the token is a full utility token, where creatives and designers interact with the ecosystem to design, manufacture and sell digital and physical fashion assets, there will be a meaningful opportunity to stake both short term and long term, with guarantees to be provided by Faith Tribe the company. These details will be shared around April/May.
Crypto Library Team: Can you tell us about the role of the $FTRB token across your project ecosystem? Will it act as a simple payment currency on all your products? And do the holders have some sort of advantage or voting rights in project decisions?
Faith Tribe: FTRB is the community coin that unifies all the components of the ecosystem. The coin holders will benefits of several advantages :
=> Governance rights, participation in product strategy, treasury fund allocation…
=> Purchase of clothes at a discount rate from NFT Marketplace & Faith Connexion brand store
=> Value of merchandise is pegged, meaning regardless of value fluctuation the price will not change.
The coin is audited by Certik, it also benefits of the support of major personalities in the crypto space such as Brock Pierce
THIRD SEGMENT (LIVE QUESTIONS)
Crypto Library Team: The greatest concern of artists is knowing that thier creations will be 100% protected from plagiarism, could you tell us how Faith solves the copyright problem?
Faith Tribe: NFT are the big answer. Minting your NFT makes it impossible to reproduce it. You are holding the rights on your work, and you will be the one getting royalties for it.
Crypto Library Team : Without a working products any idea has zero value. We see many projects are on paper only and no product. So, kindly ensure us that your project is just not an idea and it’s already has a working products or practical use cases?
Faith Tribe: Our native brand Faith Connexion is in the luxury fashion industry since 21 years. We have among our clients to greatest celebrities in art, music or fashion. Having a creative tribe is part of our DNA, and we want to move it onto blockchain. Our use case is definitely the history of our brand, and the fact that we are doing in the blockchain, we were already doing it since the existence of faith connexion.
Crypto Library Team: Faith Tribe aims to develop an open environment for the successful monetization of user-generated designs of fashion items. Is Fashion Tribe a Slow Fashion project? How is it friendly with the environment and workers?
Faith Tribe: We are aware fashion industry is one of the most polluting industries, and therefore we believe our solution can inspire a positive change. We are having a strong focus on digital fashion and we are giving back life to older looks! Meaning less physical production and making fashionable again what was already past in the archives.
Crypto Library Team: What do you think about this project’s target market, are you more focused on big brands or a creator? and are creators/designer with novice experience allowed to join your project?
Faith Tribe: Our project is FOR new creators/designers. Anyone is welcome to join! Our DNA and Mission is to help small brands and new creative people to become recognized for their talent.
Crypto Library Team:What strategy will you implement to bring non-crypto natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of $FTRB?
Faith Tribe: Attracting artists & designers is our main focus, and therefore we will indeed need to convert them to crypto. We already benefit of the support of major partners in fashion industry to help us achieve that. Also, we will be joining active artistic communities. We will also be present in every major fashion event, organize a huge digital ads campaign in business & fashion medias and finally bring a famous brand ambassador for both Faith Connexion and Faith Tribe.