HypeX x IM community AMA RECAP
TELEGRAM AMA: Im Community & HypeX 🐋
⏰ AMA Timing : 20 November 2021 l 02:00 PM UTC l 21:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw
🎁 Reward Pool 100 USDT
Bà Tân | : Welcome @Ianwang666 from HypeX.
Bà Tân | : Welcome everyone. Today Im Community will host AMA with HypeX
Bà Tân | : Today our guest is: @Ianwang666 from HypeX
Yuecheng (Ian) Wang : Thanks, I am happy to be hear to share our project with you guys!
Ahrix : Welcome @Ianwang666 to the IM community.
Yuecheng (Ian) Wang : Sure
My name is Ian, CMO at HypeX. I graduated as a communication master from the University of Southern California. I used to be a sneaker influencer on Tiktok with 1.4 million followers. But I switched to the crypto industry last year.
Bà Tân | : Thanks for the introduction.
Bà Tân | : Today’s AMA will have 3 sessions
Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team HypeX
Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1461556576297259010).
Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.
Bà Tân | : Requirements:
���Im Community (https://t.me/imcommunityitw)
���HypeX Announcement (https://t.me/HypeX_Annoucement)
���Twitter HypeX In the Metaverse (https://twitter.com/HypeX_io)
���More information about HypeX :
Bà Tân | : Start session 1 AMA
Yuecheng (Ian) Wang : Let’s go
Bà Tân | : Q1. Can you briefly describe what is HypeX ? We would like to know more about it and how it works.
Yuecheng (Ian) Wang : HypeX is the first metaverse for sneaker lovers. We have been backed by some top-tier VCs in crypto space like Polygon Ventures, Skyvision Capital, JumpCapital, SevenX Ventures, Polkastarter, L|D Capital, Magnus Capital, Faculty Group, NewTribe Capital, GHAF Capital, AU21 Capital, and big players in sneaker space like Complex, SneakerCon, Nicekicks
We have confirmed with Polkastarter and Dao Maker to do IDO for our token in late December 2021. We will also do a Token whitelist presale.
HypeX will use sneakers as an entry point to attract the coolest hypebeasts to join the community to collect, play, and socialize. We build a bottom-up fashion circle to help brands enter into the world of Web 3.0, and change the game of virtual consumption. Each NFT in HypeX will have a physical object in the real world. We will increase the liquidity of the transactions through fractionalized NFT and mortgage lending, thus creating a sustainable Hypeverse ecosystem.
Bà Tân | : Q2. Please tell us what led you to the Blockchain industry and the idea of this HypeX project.
Yuecheng (Ian) Wang : CEO Stark started doing smart contract development in 2017. He is also a sneaker expert.
CTO Xin has been working in silicon valley for more than 10 years in companies like Amazon and eBay. He always keeps track of the technology of blockchain.
I have been working as a sneaker influencer since 2019. Half a year ago, I happened to talk with Stark about how blockchain can be used in the sneaker industry. We realized NFT can be used to increase the liquidity of the sneaker market. Based on that, we brainstormed more features and discussed with a lot of VCs and OGs in the crypto and sneaker industry. Finally, we formed the idea of HypeX in July 2021.
Ahrix : @Ianwang666 Please say “Done” when you have finished the question, thank you.
Yuecheng (Ian) Wang : Done
Bà Tân | : Q3.What products are the HypeX team developing?
Yuecheng (Ian) Wang : We will launch the beta version in the first quarter of 2022. In the beta version, HypeX will have NFT mystery boxes, a marketplace, and an achievement system like NBA Top Shot.
However, our mystery boxes are profit guaranteed. For example, each box sells for $30. A pair of Air Jordan 1 Travis Scott is $2000. A 5% NFT of it is $100. It means users can get a $100 NFT from a $30 mystery box, which is the same logic of copping rare sneakers in the real world. Of course, we will limit the number of mystery boxes for each drop.
When users get the NFT, they can trade it on our marketplace. They can collect NFT to unlock achievements and get access to better mystery boxes. They can also forge fractionalized NFT into 100% and redeem a physical product.
In phase 2, users can stake NFTs to mine our token, get collateral loans with their NFTs, upgrade their NFTs with our token.
In phase 3, HypeX will launch a fitness play-to-earn game. Users can get daily rewards by running or coming to a certain spot, like Pokemon Go. HypeX will collaborate with other open-world metaverse games to provide a more immersive experience for our users such as virtual shopping.
Bà Tân | : Q4. What strengths does HypeX have over its competitors?
Yuecheng (Ian) Wang : We have 3 main competitors, Shoefy, 4k, Realy. That said, HypeX has gathered all their positive aspects and features and combined them to achieve a killing product.
Shoefy has many downsides, their sneakers are algorithmically generated with no physical asset backing them up as collateral. This opens the door to volatility, while HypeX’s prices are based on limited real-world assets, which stabilizes their value as well as brings the non-crypto users on board, creating a massive new market. They lack Defi services, apart from staking, plus they don’t have their own marketplace and no partnerships with sneaker brands, which really puts them at a disadvantage since they have to create a luxury brand of their own from scratch.
4K offers a variety of assets, from watches to graphic cards to sneakers, therefore they cannot deliver the same value to sneakerheads and might create confusion among the community. Also, since they don’t have Defi services, nor have games, users’ average usage time could be minimum and opens the door to a high churn rate. In addition, they don’t offer fractional NFTs, which again creates low liquidity since it is a one-time exchange.
Realy Their main focus right now is the Chinese market. While targeting Chinese consumers is a smart move, they are leaving behind the largest sneaker market, the US, as well as also not focusing on a strong niche. But the biggest downside here is that they have professional physical custody of their physical assets, which translates to high costs, plus delivery hustle and time, which HypeX doesn’t have since we rely on 3rd parties and prioritize NFT transactions over physical assets.
Therefore, the main advantage we have over our competition are:
- High liquidity by offering fractional NFTs. This allows many users to own fractions of assets.
- NFT cards backed up by physical assets working as collateral and stabilizing prices.
- Offering Defy services such as loans and staking.
- Gamifying the whole process by making a mystery box game to unveil NFT cards, in addition to Play-2-earn games. This reduces the churn rate and creates high user retention.
- Focusing on one of the stronger niches out there, the sneaker market. And creating a massive new market bringing the sneaker community, many of them non-crypto users, into the crypto world.
- Developing our own marketplace allows us to operate with lower costs than Shoefy, and the fact of having partnerships with top sneaker brands creates trust, increases our brand’s value, and therefore positions our project far ahead of Shoefy and 4K.
Our indirect competition is Decentraland and RTFKT. However we see them more as partners since we can build the metaverse together instead of everyone going separately. The sneaker and metaverse industries rely on collaborations, and this is what we plan to do, contributing to Decentraland’s metaverse and eventually partnering with RTFKT in upcoming drops.
Bà Tân | : Q5.What is the development roadmap of the HypeX project at present and in the future?
Yuecheng (Ian) Wang : For Q4 2021, we finished:
The new landing page
Alpha version of the product and are developing the Beta version now
We have also confirmed with Polkastarter and Dao Maker to do IDO for our token in late December 2021. We will do a Token presale whitelist.
For Q1 2022, we will keep developing the product and launch the public beta version by March 2022.
Please join our community, Let’s go HypeX!!!!
Bà Tân | : End of session 1
Bà Tân | : We will move on to session 2
Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1461556576297259010).
Bà Tân | : Question1. @LinhHong211 (https://twitter.com/LinhHong211)
The holder of NFT Sneakers will become the owner of the Sports Shoes in the form of NFT and also of the physical pair. So how do you determine the value of an NFT Sneakers? Will the NFT value 1:1 with the physical value? If I buy NFT Sneakers, how do I get the physical shoes?
Yuecheng (Ian) Wang : We will use a price feed created by Polygon to get the average price of sneakers among other big sneaker trading platforms like StockX, Goat, Stadium Goods.
When you want to redeem a physical pair, our partner sneaker store will ship the product to you. We will not touch the product.
Bà Tân | : Question2. @BietNe (https://twitter.com/BietNe)
Can you please tell us the motivation and benefits for traders/ investors to hold “HypeX “ token in a long term investment? I’m quite curious about your plans to help drive demand and scarcity for the token in circulation.
Yuecheng (Ian) Wang : Motivation and benefits of holding $HYPEX:
Get discounts when you shop physical sneakers and mystery boxes on HypeX.
2. Free Sneaker
Eligible for getting monthly free sneaker NFTs and/or mystery boxes.
Participate in DAO where you can vote on HypeX’s future regarding merchandise
selection, event hosting, and new features.
Participate in offline events hosted by HypeX.
These events can vary from concerts to parties for sneaker lovers.
Bà Tân | : Question3. @tuan_iker (https://twitter.com/tuan_iker)
Non-crypto users are very important for mainstream adoption. Does HypeX have any plan to attract non-crypto users towards it? Is there any upcoming partnership that will bring non-crypto user and real-use cases?
Yuecheng (Ian) Wang : We will use profit guaranteed mystery boxes to attract non-crypto sneaker lovers. For example, each bos sells for $30.A pair of Air Jordan 1 Travis Scott is $2000. A 5% NFT of it is $100. It means users can get a $100 NFT from a $30 mystery box, which is the same logic of copping rare sneakers in the real world. Of course, we will limit the number of mystery boxes for each drop.
This is actually a play-to-earn mode, but we make it more accessible for non-crypto sneaker lovers.
Also, we have already partnered with big players in the sneaker space like Complex(biggest hip hop culture media in the world) SneakerCon(biggest sneaker event in the world). They both have a huge customer base.
Bà Tân | : Question4.@XacKhong (https://twitter.com/XacKhong)
To increase the value of tokens, it is necessary to use certain mechanisms, everyone calls them differently: buyback, burning of tokens, and some project even call it Black Hole! So, what mechanisms do you use for increasing the value of your token? can you tell us about them?
Yuecheng (Ian) Wang : 1.Our tokenomics is deflation: For each transaction, we will burn 20% and add 10% into the liquidity pool.
2.Our lock-up period is long: We have 5 years vesting schedule for team with 1 year cliff
3.Buy back: We will always buy back our token with the revenue we get from transaction
4.New users: we will use a play-to-earn mode(profit-guaranteed mystery box) to attract more non-crypto sneaker lovers to play our game, buy our box. In order to better play our game, they have to purchase our token.
Bà Tân | : Question5.@thichandau (https://twitter.com/thichandau)
Trust is very important in business. So, what makes investors, customers and users feel safe when working with “HypeX “ ? And how will you get the trust of many users that have negative thoughts about Blockchain and DeFi?
Yuecheng (Ian) Wang : 1.Each of us has a linkedin page with a real photo and experience linked on our landing page.
2.We are backed by some top-tier VCs in crypto space like Polygon Ventures, Skyvision Capital, JumpCapital, SevenX Ventures, Polkastarter, L|D Capital, Magnus Capital, Faculty Group, NewTribe Capital, GHAF Capital, AU21 Capital, and big players in sneaker space like Complex, SneakerCon, Nicekicks.
3.3 Co-founders are USC alumni and family (University of Southern California, Top 20 University in the US). We are now working in the USC incubator office in Los Angeles. You are welcome to have a coffee with us~
Bà Tân | : Congratulations to the winners of session 2.
Bà Tân | : Alright, Session 2 has finished perfectly. Appreciate your detailed responses @Ianwang666 ���
Bà Tân | : You are welcome!
Bà Tân | : End of session 2
Bà Tân | : We’ll move on to session 3
Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.
���Jőhn L��� : go go
Bà Tân | : Don’t forget to join the group https://t.me/HypeX_Official
Bà Tân | : Group will unmute now so everyone can ask questions.
Bà Tân | : Thanks for the questions from the community.
Bà Tân | : Now let’s give our dear guest @Ianwang666 some time to go through them.
Bà Tân | : @Ianwang666 Please choose the best 5 questions and answer it for session 3, thank you.
Q1. Currently a lot of people are looking at NFTs, metaverse, and games. Can you tell me what advantages will you have in this field future?
Yuecheng (Ian) Wang : 1. We focus on building a community for non-crypto sneaker lovers with the thing they are familiar with such as rare sneakers and mystery box. We do not compete with mature metaverse project like Decentraland or Sandbox. Instead, we will partner with them to have our land in their open world
2. we have already partnered with big players in the sneaker space like Complex(biggest hip hop culture media in the world) SneakerCon(biggest sneaker event in the world). They both have a huge customer base.
Q2. STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have plan about to Staking?
Yuecheng (Ian) Wang : Sure, we will launch the staking feature in Q2 2022. 30% of our token would be in the pool. Users can even stake their NFT to earn our token or more sneaker NFT mystery box as a reward.
IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
Yuecheng (Ian) Wang : We will do IDO on Polkastarter and Dao Maker in the late December, 2021. We will also do whitelist presale of the token. Please join our telegram and stayed tune!!
Q4. Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the well major exchanges?
Yuecheng (Ian) Wang : We have confirmed to list on Gate.io and Bitmart after IDO. We are also talking to more exchanges now
Q5. Community support is one of the biggest aspects of a project?s success. Most projects have programs that interact with their users. Does you have any special plans to attract and expand the community and improve the user experience?????
Yuecheng (Ian) Wang : Yeah! we are preparing for a virtual 3D character to make videos, and a series of IP based original virtual sneaker showcase to post on social media to attract more members into our community.
Yuecheng (Ian) Wang : Done, thanks for your great questions!
Yuecheng (Ian) Wang : Thank you @AhrizVN for hosting such a wonderful AMA. We are very glad to be here and answer questions. I know many people will have more questions. If you have any questions please join our telegram group!
Enjoy the weekend guys
��� Website (https://www.hypex.io/)
��� Telegram (https://t.me/HypeX_Official
|��� Twitter (https://twitter.com/HypeX_io)
��� Discord (https://discord.com/invite/hypeX)
Ⓜ️ Medium (https://medium.com/hypex-nft)
Bà Tân | : Thanks for the useful information from @Ianwang666
Bà Tân | : End of session 3
Bà Tân | : For questions that have not been answered today, you can send them to @HypeX_Official for answers.
Bà Tân | : IM Community, if you would like to know more about HypeX ! here are some useful links for you:
Official Website: https://www.hypex.io
Yuecheng (Ian) Wang : Sure! we are willing to answer all the questions you ask
Bà Tân | : Allright, I declare the Im Community AMA with HypeX has ended.
Thanks to @Ianwang666 | HypeX joined us and provided us with HypeX information, we hope that this knowledge makes us understand more about https://www.hypex.io (https://www.hypex.io/)
To the members, thank you for following this event to the end. winners will be announced soon.