Blockelite X Babylons AMA Recap

Blockelite X Babylons AMA Recap

Thank you to everyone who joined AMA Blockelite x Babylons on 17th June at 01:30 PM UTC I 08:30 PM (UTC+7). Here is the recap for those who missed this AMA.

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Yuno – Blockelite Host: Hello fellow Eliters and welcome to another Blockelite AMA Series
So ladies and gents, Our special guest today is Egemen Hocaoglu – Community Manager of Babylons
Hello @IKIGAI0112358 , welcome to Blockelite today

Egemen Hocaoglu – Community Manager of Babylons: Hello Blockelite fam!

Yuno – Blockelite Host: Nice too meet you here today!
How are you?

Egemen Hocaoglu – Community Manager of Babylons: It is a pleasure to be here as well
All good today is beautiful

Yuno – Blockelite Host: Great
On to the Segment 1 of our AMA, we hope you’re ready for the next few questions coming at you!

Egemen Hocaoglu – Community Manager of Babylons: yes I am!

Yuno – Blockelite Host: Our guest is ready, we will enter Segment 1 right now !!!
Q1: Can you briefly introduce yourself as well as the Babylons?

Egemen Hocaoglu – Community Manager of Babylons: yes of course
My name is Egemen Hocaoğlu and I am the community manager of Babylons coming from an engineering academic background

My involvement in art started in my own way after absorbing it for years from various artists all over the world while focusing on various aspects of blockchain at the same time. After a few years of friendship with some of my team members, we came up with the idea of creating Babylons.

It is quite hard to narrow down such a project like Babylons.io but let me briefly explain what Babylons is in its essence.

Babylons is the first ‘truly’ community owned NFT marketplace on Binance Smart Chain with low gas fees, fast transactions and easy-to-use minting platform where a user can create green NFTs, collect from amazing artists and trade with others while being involved in a DAO that uses the BABI governance token to operate and also socialize in our colorful community.

You can branch out from our main website babylons.io to see a more detailed explanation of everything 🙂

Thank you, for your introduction, our pleasure to have you join us today

it is a pleasure for me as well

Yuno – Blockelite Host: Next question
Q2: With the introduction “Babylons is the first community owned NFT marketplace built on Binance Smart Chain”, what reasons you choose BSC instead of other blockchains? How does Babylons compare to other NFT marketplace such as OpenSea, Rarible, Superrare?

Egemen Hocaoglu – Community Manager of Babylons: Great questions
We were a part of the community having fun and experimenting in the NFT space. Then, Ethereum gas fees became extremely high which pushed us to think of other solutions for the community that we were involved in and there were no other options than Ethereum marketplaces that satisfied our needs and wishes. Then, we discovered that BSC is a viable network due to its low cost and high speed transactions. We eventually ended up building Babylons on BSC. We have also partnered with PolyNetwork though in order to bring cross chain support in Q3 rather than Q4.

Opensea, Rarible and Superrare all have very different business plans when you look into it. Ours is also quite unique and different from these marketplaces in many aspects.

We have a weekly reward system that financially incentivizes the active users of the platform, both buyers and sellers are eligible to weekly BABI airdrops. Almost half of our total token supply will be distributed to the community via these weekly airdrops.

While doing so, we only take %2 from buyers and sellers which also makes us stand apart in the competition with the lowest commissions as well as lowest gas fees. Revenue that is generated through these %2 commissions are also used for deflationary mechanics like buy & burn programs and some percentage of it goes to the stakeholders like dividends.

Combined with our roadmap and tokenomics, we feel like we have quite a unique stand point in the NFT space.

Oh also most importantly, we care about our community above all. So that we always listen to their feedback and suggestions, which we know that’s not the case with most of the other marketplaces.

Yuno – Blockelite Host: Community is important 🙂 agree
thanks, next question
Q3: Can you explain about Babylons DAO and its mechanics? How can community, creators, artists, collectors, and investors and your project become a win-win?

Egemen Hocaoglu – Community Manager of Babylons: Babylons has quite a unique governance model as a DAO utilizing BABI tokens. Our weekly reward system combined with our profit sharing mechanism as I explained in the previous question creates the base for Babylons DAO. Investors get stake rewards earned from buy-sell commissions. Artists, creators and collectors earn BABI as they participate in the marketplace volume. BABI gets more scarce as burn events take place and everybody wins!

In addition to staking and earning commission paybacks from the generated revenue, token holders will have voting rights to be involved in the decision making process for the future of Babylons. These voting rights will be in effect for various decisions including marketing, management, design, business development and so on.

Of course, there will also be a store value as well because of the deflationary mechanics that BABI has.

Possibilities are endless, we plan to give more and more utility to the BABI token and its holders via our both existing and future partnerships to be announced.

We have plans for crowdfunding through NFTs like launchpads but selling non fungible tokens instead of fungible ones. We have plans for a tier-based API data usage system. We have plans for in-game advantages for BABI holders via partnerships and much more! Stay tuned to learn more about these in detail as we announce new partnerships, publish community updates, and release articles explaining these utilities.

Yuno – Blockelite Host: Perfect, it’s so detailed
Continue with Q4
Q4: Safety and security are always a top priority currently. What security mechanisms do Babylons have to ensure users’ assets do not become targets for hackers?

Egemen Hocaoglu – Community Manager of Babylons: Yeah I always would like to mention details because they make the big difference 🙂
We are in the process of getting audited by Certik, which is one of the most respected audit companies in the blockchain space, and we will prove how secure we are.

Additionally, we don’t hold users’ money and NFTs on our wallets, they stay on yours. People can easily connect their wallet and use our marketplace without depositing funds to our website but only to their own wallets where they have full control.

Also Certik Audit should finalize very soon 🙂

Yuno – Blockelite Host: wait for it
Last question in segment 1
Q5: What milestones have Babylons achieved and what is the next roadmap for 2021?

Egemen Hocaoglu – Community Manager of Babylons: There have been quite a lot! I think the first major milestone for us was to take app.babylons.io online on Binance Smart Chain Mainnet as a functional NFT marketplace.

I believe we can also consider the partnerships that we have made as major achievements because they play a key factor from A to Z.

Our first partner is Ferrum Advisory Services and our relationship has been extremely fruitful since the beginning and continues to deepen day by day. We also partnered with Vapor95.com, a vaporwave aesthetic apparel brand from LA, CA to combine physical and digital worlds together through NFTs and fashion. Additionally, partnered with Noft Games listing their in-game items on our marketplace available to trade.

One of our latest partners is NETVRK which is a social VR platform on blockchain where we will have our virtual HQ. Last but not least, our latest official partnership with PolyNetwork is going to enable us to bring forward cross-chain support in Babylons!

Auction system will also be enabled this month before we go public with BABI. Right after the IDO, BABI will be listed on PancakeSwap and pre-defined liquidity will be provided. As BABI comes to life, weekly rewards for active users will start to be distributed according to again predefined conditions and limitations. You can find the exact numbers for these conditions and airdrops in our website and relative blog posts as well.

Profit sharing mechanism will also start immediately after token launch, earning interest for stakeholders.

we have a lot more planned for Q3 and Q4, i can mention those as well but those all are on our roadmap published on blog.babylons.io

If we have time, I would be happy talk more on those too 🙂

Yuno – Blockelite Host: Everyone can join: @babylonsnft and talk about it with you =))

Egemen Hocaoglu – Community Manager of Babylons: Yes, it is a great idea!

Yuno – Blockelite Host: We wrapped up nicely the first part.
Are you ready for Segment 2 (5 best questions from twitter)?

Egemen Hocaoglu – Community Manager of Babylons: yes lets go

Yuno – Blockelite Host: Our guest is ready, we will start Segment 2 right now !!!
Q1: Is it possible to import other NFTs from other platforms and renew them within the Babylon ecosystem? Can special features be added to each NFT?

Egemen Hocaoglu – Community Manager of Babylons: We developed our infrastructure to show all NFTs minted on Binance Smart Chain. You can import your NFTs from any platform operating on BSC to Babylons. We have traits section on our NFTs, you can use it to give special features to NFTs. We are also developing cross-chain compatibility for the near future.

Yuno – Blockelite Host: Next question
Q2: On your website it says “Weekly reward mechanism for active users” how is the reward mechanism given? Then how do I become Active, do I have to do a lot of transactions or is there another assessment?

Egemen Hocaoglu – Community Manager of Babylons: We will distribute weekly 227500 $BABI tokens as airdrops to active creators and collectors in accordance with their volume on Babylons marketplace. For instance if a collector makes 1% of that week’s total volume, he/she will get 2275 $BABI tokens. Besides, we will give back 30% of our weekly income to $BABI token holders.

Yuno – Blockelite Host: Perfect
buy $BABI
Next question
Q3: NFT is considered the next trend of the crypto industry after DeFi. Could you share your opinion about NFT? Where do you see the future evolution of NFT features and capabilities in the next few years?

Egemen Hocaoglu – Community Manager of Babylons: Today NFTs seem to be only related with art and artworks. It is the result of COVID, we believe. Most artists lost their jobs during the pandemic and NFT technology helped them to show their art to the public a lot. We are planning to expand the usage of NFTs in such industries; real estate, media and sports. Also we aim to create a bridge between NFT space and physical arts. There will be lots of partnerships ahead.

Yuno – Blockelite Host: I hate COVID
Next question
Q4: Projects that are not traded on major exchanges remain unnoticed. What do you think about listing the token on the leading exchanges?

Egemen Hocaoglu – Community Manager of Babylons: We are aware of this fact. Firstly, $BABI token will be listed on PancakeSwap. Then, in the upcoming weeks, $BABI will be listed in at least 2 of the top 10 exchanges 😉

Yuno – Blockelite Host: PancakeSwap, sure , $BABI runs on BSC

Egemen Hocaoglu – Community Manager of Babylons: Yep, also interesting insight is that Pancakeswap volume exceeded Uniswap in March I think

Yuno – Blockelite Host: Ok, last question of this segment, everyone please prepare good questions for segment 3.
Q5: Do you have any plans to do airdrops and bounties to the users? How can we join them?

Egemen Hocaoglu – Community Manager of Babylons: We are going to start a new bounty hunter program very soon. We are expanding our team on the marketing side. Also we will start a weekly airdrop rewards program next week. With this program, all buyers and sellers on Babylons will get their respective BABI tokens in the 1st week after TGE according to their volume made until TGE. Program will continue after TGE as we indicated on our litepaper.

Yuno – Blockelite Host: You are awesome, thanks for answer all 5 best questions from twitter of my community.
Last Segment for AMA today, The guests will select 5 best questions from the community.

Blockelite Community:
Is it difficult to use BABYLONS in an existing infrastructure, do you have to follow certain rules to be able to use it?

Egemen Hocaoglu – Community Manager of Babylons: Our platform app.babylons.io is very user-friendly and gets better continuously. You can follow simple steps in Babylons NFT marketplace tutorial in our Youtube channel

https://www.youtube.com/channel/UCIn3zZbUSYgt0rdJS8AnWkg

Blockelite Community:
Do you have a whitepaper if yes please share in with us and secondly how to plan to increase your community and promote them to hold your tokens in the long run?? Also have you planned in your tokenomics at present??

Egemen Hocaoglu – Community Manager of Babylons: Our litepaper is in babylons.io and also a detailed version is available at blog.babylons.io We have staking also deflationary buyback and burn mechanism to increase store value continuously. Tokenomics are also available on our both website and blog.

Blockelite Community:
Do you take into account community feedback and requests while creating your project?

Egemen Hocaoglu – Community Manager of Babylons: YES! We listen to our community through various channels like @BabylonsNFT and Discord and more. Also we are very hands-on so that each community member’s problems get solved immediately. I believe anyone can vouche for our close relationship as Babylons team and with Babylons community

Blockelite Community:
Today on how many social media platforms are you going to rock, how and where and can I join you??

Egemen Hocaoglu – Community Manager of Babylons:
our landing page: https://babylons.io
our marketplace: https://app.babylons.io
our Instagram: https://www.instagram.com/babylonsnft/
our blog: https://blog.babylons.io/
our telegram: https://t.me/babylonsnft
our discord: https://discord.com/invite/3URxf7Syfd
our twitter: https://twitter.com/BabylonsNFT
our youtube: https://www.youtube.com/channel/UCIn3zZbUSYgt0rdJS8AnWkg

we have plans for tiktok as well 🙂

also we are open to dapps and developing social blockchain projects so we can be active on many other mediums too

Blockelite Community:
Is Your project a Global project ?
Is any of the local communities restricted from contributing to the project ?

Egemen Hocaoglu – Community Manager of Babylons: no one is restricted, we welcome everybody from all over the world and beyond 😉 We have artists from over 40 or most probably more countries on the marketplace right now. We will also activate a Babylons Artist Fund to support emerging artists with the help of our Ambassador Artists from all over the globe in various art disciplines

Yuno – Blockelite Host: Thank you for joining today AMA! It was awesome!
Our AMA session is now over !!!

Egemen Hocaoglu – Community Manager of Babylons: It was a big pleasure!