Can you please introduce yourself? What is your background? When did you start crypto and for how long you know the rest of team?
My name is Benjamin, my main background is a mix of retail, finance, and ecommerce cybersecurity. I’ve been around crypto since mid 2015, stopped for a bit after 2018 like most, then restarted again in early 2020!
I’ve known the team for different amounts of time with the core team and lead dev the longest followed by the additional devs who are fairly new to me (just this year) but the lead dev has vouched for them. All of us are publicly anonymous.
Is this your first project together with the core team?
Yup this is my first project with the core team, going well and seems like we have good dynamics :)
Are you guys located in the same time zone?
yes we are, all in GMT +8
How about chat moderators? Do you have ppl from different time zones? I see the chat is pretty active no matter what time it is
yes, we have moderators from UK, USA, and PH so we have pretty much the 24 hours covered
How many people are part of the team at the moment? Did you expand from the last time we spoke?
no expansion here since May, the team itself still has 3 core team members, and 5 total devs
Are you looking to hire? Or every subject is covered already?
we’re now actually open to hiring for solidity devs as there’s some features I’ve been eyeing that my lead dev doesn’t quite know yet, and I’d rather compartmentalize than leave it all up to him
Excuse my ignorance on dev side, but why do you need solidity devs now?
there’s a lot of features, for example I did initially want lottery listings, but my lead dev doesn’t know how to work with oracles just yet, but if we can get another dev to make the code for that part, we can easily add it as a module to the marketplace contracts (which are made in 12 files so we can easily add/remove features in the future)
things like that :)
What is your main goal for this project? In few words please…
I know it’s a very generalized question but I’d like to have your honest opinion
at its heart, World is meant to be a safer crypto-based marketplace for decentralized finance, hence the escrow sales.
There’s some p2p projects out there too but if you get scammed, that’s the end of it. If we want crypto to gain legs for mass adoption safety and convenience both have to thrive, so we started with the safety aspects
So, basically you are trying to do a one-stop-shop for purchasing digital goods online
goods, services, nfts alike!
I saw that the marketplace is up and running. Great job by the way! I really liked the UI, simple and easy to navigate. How hard is to become a merchant? Do you do any vetting or anyone can try?
for now contacting us directly and we’ll go through a short process of questions and data gathering about a vendor, but once that’s done we would add their address as a merchant on the contracts and the website so they can start listing items! We make it as easy as possible for the merchants and it is free at this stage. We check for things like existing sales, webshops, other existing methods they use to sell and have a customer base.
Later on, we’ll be introducing a way for anyone to become a merchant, but still maintaining a low risk profile for the platform
The way I see it, the more traction you gain and the more people who are attracted to transact on your platform — the higher your risk exposure which can result in a fall in consumer base as illicit vendors seek to abuse the platform for personal gain — on the back of this, I’d expect to see a more serious vetting method as your consumer base increases to prevent this happening. I’d love to know if you have considered this and what you’re looking to implement, or if not is this something you’d consider.
i’ll expound more on that upcoming feature where anyone can be a merchant then. Vendor bonds will be introduced where an interested party can lock up WORLD and DAI/BUSD to become a vendor. If any fraud or similar activities are found, the vendor loses merchant status, any victims are compensated from that bond, and the WORLD is burned if any is left. Of course if enough time passes with proper sales and audience growth, and a merchant has proven to be of good status, the DAI/BUSD is withdrawable and they can continue to be a merchant on the platform. The WORLD locked up must remain so until they stop being a merchant, then it would be withdrawable also.
I’d look to automate as much of that process as possible in the future of course
I wouldn’t think what is essentially a vesting period would put off someone malicious making mad gains that outweigh the negativity of the vesting itself. But that would depends on the value of the transactions, I myself have toyed with the this idea but I can’t seem to see how it can logically be applied effectively
yeah at implementation I’ll still be looking to limit the number of or total amount in transactions that can be open at once to limit any abuse, but I don’t have an exact system for it yet at this point :)
What do you provide for NFT artists? Do you have any partnership at the moment with any big artist?
Yes, we’re partnered with the NFT Agency, (you can find them here, https://www.thenftagency.com/)
we’re looking to do 1–2 auctions from their artists, exclusively on the WORLD platform every month. We’ve had one recently and are setting up the next one!
We’re also talking to other NFT artists but nothing set in stone just yet
Are you looking to add more features in marketplace
Yes, we’re nowhere near done, just some complications thanks to lockdowns and other factors atm. We have a full list of features still pending such as USD pricing, adding other tokens to payment method (but merchants will always receive WORLD), etc. There’s still a lot of things in store as well as research being done on implementation and what other feasible features can be added
$WORLD is being traded in 2 chains right now, right? BSC and ERC….Are you looking to expand on any other chain anytime soon?
Yes, we’re partnered with LGCY network recently, and they’re about to go for their mainnet launch as well as DEX launch. We’ll be on that network soon and if any major chains gain massive traction similar to what BSC achieved, we’ll consider adding a marketplace on that network too, as long as the token supply and budgets can support it.
According to your roadmap at the moment we are at phase 2. Can you please explain to us shortly what does this phase include in few words?
phase 2 means that the marketplace is up and running but it’s only in its initial stages, while we add more features and get more merchants bit by bit. We build a lot here and get more partners in the form of projects and NFT artists/games. The next phase would be us focusing on scaling and growth of the userbase/community again where the product is mostly completed
How is World different other from other projects? What is your edge?
There isn’t actually many other P2P marketplaces in defi at the moment, but we’re also the only one trying to focus on things like escrow and safety. Everyone else seems to be hyperfocused on fees reduction or not even having a unique selling proposition.
I heard you’re in the planning phase of a new governance token for world
Would you care to elaborate a little bit more about this?
we have a few things currently in development and we’re setting up a new governance token as well so the community can make feature suggestions, protocol change requests, etc. This will be in tandem with us reaching out to VC’s to get additional funding for the project too for all the maintenance, development, market making charges, cex listings, and more. Progress is good on this front and I’m very excited, looking to get that new token out possibly by the end of August if things go smoothly!
For anyone interested we do have some part of the private sale open to individuals, so feel free to send me a DM about it.
Do you have any tokenomics available for this?
about 10% will be for sale, we won’t go for a presale anymore after. Just straight to Uniswap listing after as well as some other CEX’s I’ve been eyeing.
We have some reserves set aside for future fundraising, marketing, etc.
I’ll upload the full whitepaper on it here at the end of the AMA
What are you doing to attract more people to use your platform? Marketplace or the app(farms)
Right now we’re waiting for the best time but we’re ready to ramp up the influencers on both twitter and youtube. We’re going more for people using the platform or focus on the NFT auctions rather than “shill this token” style. So expect to see that hopefully within the month if the market allows
Who are your biggest partners at the moment? Do you have any new partnership coming up?
Not sure about biggest but you’ll hear of more artists from the NFT agency soon from us, as well as LGCY’s mainnet (we’re actually having our weekly game night joint with their community this friday, so come check that out and win some WORLD and LGCY tokens)
We’re in talks with a couple nft hubs and projects currently but we’ll see how everything pans out first. Keep an eye on https://t.me/worldtokenann for any official partnership announcements!
Everyone wants to know about your short-term Marketing Plans. Can you share with us your marketing strategy?
our main one for now will be getting more auctions and content onto the marketplace, but we are eyeing some heavy influencer marketing once the market euphoria starts once again. We’re in a good spot right now and people are getting excited again. Our partner projects will help us getting the proper influencers as these networks are incredibly valuable, so soon it’ll be clear why all these partnerships matter so much too