Web3Space NFT Marketplace

TRON Hackathon Hackathon Season 5
41

Thank you for taking out time and providing more insights into the role and use of the token in the Web3Space platform. It appears that the token will primarily serve as a means for covering operational costs, and it will be periodically sold to fund the platform’s needs. Additionally, the token is envisioned to have various functionalities, including stake mechanisms, partnership with loan platforms, buybacks, and being used as a form of payment for event access NFTs. Moving forward, for a better understanding, I’ve just a question;

How does the platform plan to balance token sales for operational costs while ensuring that the supply and demand dynamics are managed effectively to maintain token value stability?

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42

Thats great, you have done a great presentation and quick to answer all the questions asked, that wonderful and keep it up. Are you a Ghanaian by any means. Your name Kojopapo sounds like a Ghanaian.

Inasmuch as i love NFTs, the inability to trade it of for cash has really been a stumbling block for most of us already looking for liquid assets.

I currently have NFTs listed on other platforms and for years, no buyers whatsoever, i dont even think people visit that marketplace again.

What measures are you going to use to ensure your marketplace stands out to drive the needed volume.
I need a place where i can buy and sell with ease and not a place where u can buy but no one will be willing to buyback from you for even a cent.

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43

@Nana66419 nft marketplaces serve more then just selling art music etc.

NFT Marketplace can be used to hold auctions, for office eq, cars and houses.

I think for art one would need to create an NFT staking platform or use a dex swap that allow V3 lp staking.

And at some point it would depend on the uniqueness of the art, most people want nfts that offer something in return :thinking: like using a local clothing brands to sell a unique designs that other designers can buy and they get royalties too.

And its Kojo means boy born on a Monday in Ghana,
Papo is my surname, so thats why kojopapo

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44

Welcome once again Kojo, i am also Nana Kwame by the way.

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45

@Nana66419

Pleasure meeting you, Where are you from? If you don’t mind me asking.

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from Ghana, residing in Kumasi. Santasi to be precise

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47

@Nana66419

Never been,

48

@manfred_jr

If you operational cost are at $2500 Up-front for the 1st 5 years term and any additional costs at $200 year per year mid operation, then we have have 5 years to recover $3500 investors funds, with additional buy backs coming from outsource and not the platform itself,

Now assuring a stabile value for the token wouldn’t be realistic in the 1st 5 years as one could buy with 5% price impact and some sell at 6%, not saying liquidation would low but based on what it would be, but the will be those who would sell for profit, so creating buy back on in-between and increase liquidation pools to reduce price impact something that would be done.

Buying out holder’s in a low value, and increasing liquidation in the process,

Creating outsource income for the platform to be self sustainable in the process of growth and marketing,

Creating way to prevent selling the W3S, apart from team funds being splited, would the best way to go.

The platform is a larger business plan cut into a small idea, to start small and work its way up. We look more towards a future that offers digital accessibility, and digital memberships, screenshot being disabled on most platforms, creating content money that will offer discounts if used, then eventually having a commodity that people can use for loans outside decentralized systems,

Might be far reaching but have to start somewhere, looking at what the future will hold for the digital industry and starting while cost are low, also gaining experience and exposure.

I might have over stepped my reply, sorry.

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49

I have been reading this discussion for a bit now , interesting you guys wanting to create a NFT market on BTT especially seeing the NFT market / sales on tron are so tiny .

What will the platform do to attract both sellers and buyers of said NFTs especially as you be the first on BTT were currently nearly no users reside?

Secondly the tokens , kinda have to say red flags already pop up for me when you say

" So the token, will be for operation costs
And yes that will mean that it will be sold from time to time "

It does not want to make me invest in such token , what other utility will the token be in combination with the platform beside a way for the platform to have a liquidation pool? Will people mine the token through buys and sales on the platform or how is this envisioned ?

What will the tokenomic split look like as in supply etc and especially how much % of that supply will the team hold ?

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50

Thank you for providing more details about the operational costs, buyback strategy, and long-term vision of the Web3Space platform. It’s clear that the platform aims to start small, self-sustaining through outsourcing income, and gradually expand to offer digital accessibility, digital memberships, and even potential loan services in the future. I got just one question bordering on your response;

Could you elaborate on the process of preventing excessive selling of W3S tokens? What mechanisms or incentives will be in place to encourage token holders to hold and participate in the platform’s long-term vision?

I mean asides maybe staking with a possibly high apr, cause we Africans love a good stake, @Nana66419, @Prince-Onscolo and @Nweke-nature1.com etc I bet would agree

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51

perfect we love to see our money working for us

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52

@Dendorion team 3%

Well an NFT Marketplace can be used for alot and not jus art,

I guess the red flag would that and team selling, but honestly would better an investor knowing then a sudden dump of 5%, in which operations would be development in which that would be from upgrading the platform, not really selling to for the platform to keep run,

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53

The advantages of using we especially include:
Decentralization: which means that is not controlled by any single entity. This make it more secure and resistant to censorehip.

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54

Will projects that wants to list on your platform be vetted before given access? Most marketplace these days are flooded with shits. Everyone is creating and yet no one is buying.

So it is better to set out parameters for the creators. If they dont meet the predefined rules. They cant list. They have to atleast list an NFT that has a use case.

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55

Thanks for your answer .

How is the token structure will people mine it by for example buying / selling stuff on your platform? And how much % of the token will be in the team their controll ?

Correct this is a big red flag and i could guess many would agree with that . At the point at the end of the hackathon you will deliver an already funtional dapp , say in case you win the 1st price . There will be plenty of funds for you available + the fees you could generate with a well promoted/running platform to keep your platform updated and developed. Specially seeing you will deliver a ready product by then.

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@Nana66419

True, also no outlining free saving/downloads.

And i wasn’t sure if a vetted platform would work then realized of scams etc.

Ideally getting people to tokenize their work would be a good idea,

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57

@Dendorion

The token wont be mined per say, unless you accept it as payment, or through lp mining.

The token is mainly an addition to the platform, like using it to governor the platform, structured to give investors as might use of their funds but only if they agree, (DAO)

Now saying one does win 1st or 2nd place :thinking:, the platform cost would be used on a 5 year planing, so any additional cost be used if a new nft contract code comes up,

Should investors decide in a DAO that the token must restructured then thats what will happen, tokenomics are there to give an idea what and how we’ll use your investment should we need to, its not we are going to use it, without you agreeing to it 1st.

So yeah the token is really for public engagement, using it for the public to make decisions on the platform with, Could have done 90% liquidation and the would still be red flagged.

Public opinion would be great for the platform,

7% in total but it might be reduced,

Followed by marketing and development at 13%

79% goes to liquidation, staking, cex, and 1% airdrop n community incentives.

All token restructuring will be open to a DAO.

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58

@Okorie

The decentralized become a norm, the more plans of censorship start to come in plan

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@manfred_jr i doubt the will be high apr as its a capped supply,

Actually getting holder’s to sell for gains in a short-term would appreciated,

Im not finding the right way to answer, :thinking: how about i just say this, creating opportunities of Blockchain, the would lead to on chain development

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60

Ok buddy, I’ll have to draw the curtains here on the questions but would be monitoring keenly as hackathon advances, ty.

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