Ask Me Anything with ICO Speaks: Summary
From the Faith Tribe side there was:
Tarek | Marketing & Community Development | @RealTH5
I’m Tarek, Head of Marketing & Community Development at Faith Tribe. I’ll be happy to answer all of your questions today.
Simon | Digital Assets & NFT Strategy | @SimonAbb
Simon Abboud here! Head of Digital Assets at Faith Connexion. Mostly in charge of all NFT collection and drops.
Let’s get started!
Q: What is the sole purpose of Faith Tribe ?
A: The sole purpose of Faith Tribe is to build an ecosystem where fashion becomes democratized in order to unlock major new opportunities for creators, artists, and fashion businesses everywhere in the world.
Q: Explain some of the on-chain and off-chain tools that are available through the platform.
A: After working and partnering up with DefineLabs, DressX, PlatformE and Legitimate, a large set of on-chain and off-chain tools have been decided such as integrating our looks in other blockchains with endless possibilities. Such as wearing our looks in other metaverse games, on social media filters and on numerous available or upcoming meta projects.
Q: Who is Faith Tribe’s purpose working for?
A: Our main target in creating this DAO is, of course, all the fashion oriented people such as designers, producers, artists and so on. In that, our aim is to decentralize the production process so that everyone, known or unknown, can have their work and voice reach the entire world and get credit for their efforts along the way.
Q: What will be the utility of having a Faith Tribe coin?
A: 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. Please note that Faith Tribe coin will be available for public trading in January under $FTRB.
Q: Is there a tokenomics?
A: Yes of course. Token distribution will be the following : 75% for the community (artists, designers, small brands…), 17% to the core team and finally 8% to private investors.The coin will be launched at 0.01$The project benefits of strong support from venture capitalists, and famous personalities in crypto space such as Brock Pierce.
Q: Please tell us more about the virtual designer studio.
A: The designer studio is the core product experience for our community, and will boast the latest tools and technologies for garment creation such as 3D. The designer studio will support the end-to-end experience of our creative tribe. It is where every designer will be able to:
1. Collaborate & Create clothes or outfits.
2. Mint your design as a digital or physical asset. You can set price, distribution rights, royalty feels…
3. Fund & Manufacture
4. Track the sales & distribution of assets.
Q: How does your NFT Marketplace work, and will your NFTs only be virtual?
A: Absolutely not! It is up to every creator when he mints it, to choose whether his NFTs will be sold fully digital, or be linked to physical clothes. You can get both, meaning the NFT you purchase can also be tangible clothes to wear. The NFT Marketplace connects the creative tribe to the population of buyers using Web3 Tech. It enables the sale of digital & physical NFTs. It will also host occasionally limited editions drops from our designers.
Q: While you build your project, do you take into account community feedbacks and demands? While you build your project, do you take into account community feedbacks and demands?
A: Our community is what makes us strong. their feedback is the most valuable and important to us. every feedback is taken very seriously for us to follow up on the communities desires and needs
Q: Do you have a whitepaper? If yes, please share it with us and secondly are you working to AUDIT your project, to make it more secure and reliable?
A: Yes, a whitepaper is available and should be pinned on all our groups. We will send everything in the end today so you can check it out. We are working with Certik for our auditing.
Q: Can you briefly describe your partnership so far and upcoming partnerships?
A: Our main partnership helps us bring platform to platform utility with our NFT looks such as using our looks in other games or networks. Knowing the metaverse is a infinite world these partnerships make us stronger in different aspects
Q: Can you List 1–3 Killer features of your PROJECT that makes it ahead of Competitors? What is the Competitive Advantages your platform has that you feel most confident about?
A: First, at the end of the production process, you can actually get a tangible look or dress and wear it in real life. our looks are availble for the whole world to purchase and own rights to. hence decentralizing the whole idea of fashion. owning our looks will permit you to access exclusive events or deals along the way knowing you hold Faith Tribe material
Q:1-Increasing Token Price, 2- Make Token Valuable, 3-Building Community Trust From. I want to ask,. Which one the most important for you? If all above are important for you, which one that will you do first?
A: Community trust is the most important increasing token price is the least important our goal is not to make profit, its to create a revolutionizing platform that changes the fashion industry
Q: Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.
A: We are indeed putting a big focus on fashion community as they are the heart of our project. Our platform is tailored to help them unlock their creative voice and therefore they will be at the heart of our marketing strategy. We will have a presence at Fashion Weeks and major Art Fairs, and catch their attention through fashion influencers. We are also backed by major advisors and investors in fashion space.
ICOSpeaks hosted an AMA Session with the Faith Tribe Team. That’s all for today. Thanks to all users who participated. Thanks, Faith Tribe for being with us. Thanks, all and see you soon! Cheers