Blockelite X Unique One Network AMA Recap

Blockelite X Unique One Network AMA Recap

Thank you to everyone who joined AMA Blockelite x Unique One Network on 28th May at 3:00 PM UTC I 10:00 PM (UTC+7). Here is the recap for those who missed this AMA.

Our special guest today is Unique G – Community Manager of Unique One Network

Segment 1: Introduction about Unique One Network and Unique G – Community Manager of Unique One Network

Q1. Can you briefly introduce yourself as well as about Unique One Network?

Unique G – Community Manager of Unique One Network: Hi, I am Unique G and I am the admin for Unique One Network Telegram group. We are a group of crypto purist and we have mainly been investors but also have been involved in crypto projects in this space for several years. We say we are purists in the sense that we abhor any involvement of corporations in this space. The ideal crypto project should belong to the community and not by a handful of people and certainly not profit seeking corporations. We are strong community builders.

Unique One Network is a Polkadot Substrate blockchain project that will host native Unique One NFT marketplaces that includes Unique One for Art, Unique One Photo for Photographs, Unique Fans for NSFW NFTs and future launches of Unique One Love which is charity platform, Unique One Game which is an NFT game marketplace and launch platform and Unique One Finance which is an NFT Fractionalization and swapping protocol.

All decentralised digital art marketplace supports Artists instead of profiting off them. We are non-profit seeking and have a net-zero fee policy to create a vibrant true decentralised marketplace independently operated by the community.

Unique will be governed by a DAO at both the DApp and Appchain level for true decentralisation. In the first phase, we will gather community votes via snapshot. Right now, we have the ratification of the Unique One DAO Governance Proposal. All token holders will be able to vote at governance.unique.one

Q2: How is the Unique One Network different from the current projects on the market? Why people have to choose you?

Unique G – Community Manager of Unique One Network: Unique One Network is a smart contract platform build on Substrate and have EVM for smart contracts. An equivalent will be the Flow, Darwinia and other NFT focussed blockchains that is emerging. The main difference is that we are purely a decentralised community project with no VC or token sales. We do all our distribution through airdrops and we will have live marketplaces (active Dapps) before we launch. A portion of Unique One Network tokens $UNET will be airdropped to existing Unique project token holders on launch.

For Dapp comparison, there are a number of different NFT art platforms, Opensea is more of a general NFT aggregator, the host NFT that is created on other platforms and does not allow creation of NFT on their platform. There is also Superrare which is operated like a gallery where they only allow a limited number of artist to display their works for sale. There is also Rarible where you can create NFT tokens and also buy and sell. The difference is that most of these platforms are corporate and backed by VC and they charge heavy fees which is kept by the company.

Unique.One, Uniqueone.photo and Unique.fans are all non corporate and is a non profit collective. The other key difference is that Unique does not charge creators. We also have a net zero fee. So when a buyer buys a digital art NFT, they are charged a 1% platform fee. Now this fee is collected and goes towards repurchasing $rare, $foto or $fans tokens from the market. And this tokens are redistributed back to circulating supply token holders

The other major problem we solved is with the reward model. For example on Rarible, they reward based on the value of the transaction. So this means the popular artists who have the highest sales will earn the most of the tokens. So they have a big problem with wash trading. On our platform, every artist will get a share of reward for creating an NFT without selling it. If they sell it, then they will get more reward and if the value of their work is high, then they get more rewards.

Q3: UniqueOne Ecosystem has up to 6 tokens including $RARE, $FOTO, $FANS, $LOVE, $UFIN, $GAME. Why do you use so many tokens for your ecosystem instead of using only a governance token?

Unique G – Community Manager of Unique One Network: We have identified a gap in the market where the general marketplaces each NFT marketplace serves a distinctly different community. For example, photographers are looking for a photo centric marketplace which can compete with the likes of istock photos. They also need vastly different resources and the community should decide on the direction of development for each platform.

It is also more efficient for us to deploy such marketplaces as we share marketing and development resources so that these projects can be done with minimal cost. Each of the project have innovation which sometimes can be applied to another project. This is a key pillar of our strategic plan.

Unique One $RARE is a permissionless open net zero fee Art NFT platform and we also have artist incentive where anyone qualified can apply for funding to carry out Art shows. IRL Art is a Denver based art cooperative and they have built VR Art Gallery as well as a real life Art Gallery in real life. It will be unveiled this month. We have 3 marketplaces on ETH app.unique.one on xDai xdai.unique.one and BSC bsc.unique.one

Unique One Photo $FOTO is the first Photography NFT marketplace and give professional photographers the opportunity to showcase their work and also sell it without any charges. The traditional platforms charge as much as 30 to 50% and there is no way to tell how many copies are sold. A lot of professional photographers are excited about this project. You can take a look at bsc.uniqueone.photo

And for Unique Fans $FANS , most of the NSFW artists have their social media and accounts banned or NFT removed. So the marketplace that only caters to them will ensure this does not happen. There are also requirements for age check and we are using a top solutions provider that provides for Pornhub to ensure this is taken care of and their identity is kept confidential and safe. The marketplace is at app.unique.fans

Unique One Love $LOVE is a charity platform which will be launched in June. We will work with registered charities to ensure there is a genuine flow of cases.

Unique One Game $GAME is an NFT game item marketplace and NFT game launchpad. We have a collaboration with an SDK provides which allows Unity games to be blockchainised. This is exciting because even Axie Infinity is built using HTML/CSS. Unity games will be closer to what everyone is playing.

Unique One Finance $UFIN is an NFT fractionalisation protocol and NFT swap capabilities. We will have unique features here that no one esle have such as partial redemption. This also introduces DeFi capabilities to the Unique One universe. We see this developing into NFT lease and mortgage in the future and perhaps we will have marketplaces that caters to real world assets on our chain in the future.

Every marketplace is unique because the communities are unique but they will all share the Unique One Network substrate blockchain as their home.

Blockelite Host: But UNIQUE only buy $rare, $foto and $fans, why not buy $love, $game ? is there any reason?

Unique G – Community Manager of Unique One Network: LOVE, GAME, UFIN and UNET is not launched. When we launch, we always give airdrop to existing token holders. So when LOVE launches, it will be airdroppped to holders of RARE, FOTO and FANS. Because we have so many projects coming, if you just buy and hold, you will receive more value in new token airdrops.

The other airdrop will be through our Rare Limited Edition NFTs. You can see the cards at app.unique.one

We also welcome other nft projects to deploy on Unique One Network. If you have someone who want to launch, you can contact us. We support anyone who have good reputation and not out there to scam

The unique one marketplaces is only to kick start a bigger ecosystem which anyone can enter. Because of our net zero fee model where token holders benefit, we believe we can compete with any Substrate nft chain.

Blockelite Host: this is great, can be a development motivator of few projects 🙂

Unique G – Community Manager of Unique One Network: Yes.. We are totally open

Q4: Can you share some of the notable partners Unique One Network has? And what can we expect from that partnerships?

Unique G – Community Manager of Unique One Network: Sora community has been especially welcoming of our project and we are in the process of deploying an NFT marketplace on Sora. We intend to keep Polkaswap the main exchange for all our coins. Other partnerships with projects such as Ferrum for staking and FIO Protocol for identifying accounts and NFTs is also essential. At the Dapp level, we partner with existing communities such as IRLArt, NSFW community to develop our community. We welcome other projects to deploy on our substrate blockchains so we expect our partnerships to grow. For media, we have coindesk and cointelegraph partnership. We also have Underscored labs for Gaming SDK and there is an exiciting auction that will be launched in June on Unique One marketplace to celebrate the launch of our auction functionality. This will be the best NFT auction mechanism out there.

Q5: What milestones have Unique One Network achieved and what is the next roadmap for 2021?

Unique G – Community Manager of Unique One Network: The high level roadmap will see us expanding the NFT and DeFi universe on our Unique One network chain.

For this year, we will roll out Unique One Love – a charity platform, Unique One Finance – an NFT fractionalisation and Swap protocol and Unique One Game – which is an NFT game item marketplace and launchpad.

For 2021, we should roll out more real world NFT applications related to real world assets such as in property or rental marketplaces.

In terms of features – governance, decentralised moderation, kyc using a top service provider, we will have a game SDK for Unity games, An address and domain identity for creators and many more to come

All of it is already in development. We will have Unique One Network testnet soon.

Blockelite Host: Who can join the testnet ?

Unique G – Community Manager of Unique One Network: Anyone

Segment 2: Twitter questions

Q1: Why did you come up with the idea to create Unique One – A truly decentralised non-profit platform owned and managed by the Digital Arts community, bringing together Artists, Creators and Collectors as One ? What is the inspiration for you to build Unique One successfully?

Unique G – Community Manager of Unique One Network: To understand our project.. You need to understand our manifesto first..

We are the anti-establishment.

We are the anti-corporation.

We will disrupt all online marketplaces.

We shall create a true decentralised net-zero fees platform for humankind.

We will compete head on with mainstream platforms such as ebay, etsy, stock photos, etc.

We define true success as full handover of governance to the community.

We will embrace the community; and give them wings to fly.

We will together create opportunities for everyone.

This is who we are

This is the Crypto Purist Manifesto

And this is the problem we solve….

Marketplace – We saw that most of the NFT Art marketplaces are run as a business and not as a community. They are also charging artists and charging big platform fees. Others are not so open to new artists and run more like a traditional art gallery. We also have a lot of censorship and bans because the administrators of the platform feels like it and this is done without reason. We see it is the worse combination possible, a dictatorship and a corporation. Unique One is the purist response that a pure community run platform can succeed.

Blockchain – The gas fees on Ethereum is exorbitant to the point which renders it unusable for normal users. We have also deployed on other blockchains which has lower fees, however, it is not sustainable for a DApp to continue to pay other platforms for any transaction or computation that is done. It will also be good for DApps to have the flexibility to influence the roll out of run time upgrades on their own native blockchain. Therefore, we have chosen to deploy our own Substrate blockchain which will be able to connect to Polkadot/Kusama/Cosmos/Octopus relay networks.

All of them are interoperable protocols. The newest one and most exciting is oct.network. It has not launched yet.

Q2: How can Unique One Network be a viable network option to artistically flourish given the confined conditions many of us still reside in due to COVID-19? And above all, how to indoctrinate museums and exhibitions of physical art under these new bullish technologies such as NFTs?

Unique G – Community Manager of Unique One Network: NFT Art has been a boon for artists who are hampered by COVID-19 situation where they cannot access the market the traditional way. We are working with IRL Art which is a Denver based non profit art cooperative with more than 70 artists and our community funded them to build a VR Art gallery in Crypto Voxels as well as a real life Art Gallery which is almost ready. The concept is to provide the bridge between the physical and digital world.

We can see more museums and art exhibitions adopting this approach. It also transforms how people buy and collect art in the future. You can have both a physical and digital copy. The artist selling via NFT can also apply royalty which was not possible before. We believe this will change the entire industry. And NFT fractionalisation also makes it possible for normal people to own a piece of a very valuable art work. We are happy to do our part for artists without taking money from them and be part of the Web 3.0 revolution for all creators.

Q3: When will presale start?
Where it will listing soon?
What is this your strategy to attract the investors?

Unique G – Community Manager of Unique One Network: For our DApps which is our NFT marketplaces, we use a FAIR LAUNCH mechanism, which means all tokens are airdropped, some by direct airdrop to Unique token holders so we can have more token holders for new projects. Some are airdropped by our special Rare Limited Edition NFTs. The team does not have any token allocation for all our marketplaces.

This is our typical DApp tokenomics, below is summary

  1. No private or public sales
  2. All tokens are distributed using airdrops
  3. Tokens are airdroppped to other Unique project token holders (this will always happen)
  4. Tokens are also airdropped to those who buy our special Rare Limited Edition NFTs
  5. Team gets NO TOKENS (this is to prevent dump and team members have to buy like everyone else and this is called FAIR LAUNCH)
  6. The DAO gets 20% of tokens
  7. The rest is for incentives to bootstrap the various activites that is important
  8. There are two factors – internal platform and external factors
  9. Platform related has to do with NFT sales and volume generated because this generates revenue
  10. We dont charge sellers (creators) and only charge buyers
  11. Buyers fee of between 2 to 2.5% goes to buy back and burn RARE/FOTO/FANS tokens
  12. For $RARE tokens – so far 2% of circulating supply has been burned in 5 months time
  13. We expect a healthy level of activity to generate about 5 to 10% circulating supply burn a year
  14. This means supply will be drastically reduced in 3 to 5 years time
  15. Increased scarcity will have positive impact on price and all token holders benefit
  16. Token holders have a say in governance
  17. The other token allocation is to bring more users in aka marketing

This is the Tokenomics for DApps

Now for Blockchain Tokenomics

This is a preview but it is not finalised

  1. We have 50% allocation for internal – Team, DAO and Early supporters
  2. We have 50% allocation for external – Community, Validators, Marketing, Bounty, etc
  3. We plan to be connected to either Kusama as parachain or Octopus Network as appchain
  4. The testnet will be launched in End June or Early July
  5. Full blockchain should launchin August/Sept

Please watch out for new project announcements in our Telegram as we give priority to our community.

Blockelite Host: No private, no public sales 🙂

Unique G – Community Manager of Unique One Network: nope. no VC getting cheap coins to dump on community. all team members have to buy

Blockelite Host: And the team don’t have token, lol
a great team 🙂

Unique G – Community Manager of Unique One Network: Thanks. We like this concept

Q4: What is the strongest advantage that you think will make this team lead the market? in contrast, what weaknesses do you have and how does the team plan to overcome them?

Unique G – Community Manager of Unique One Network: Our strongest advantage is in the nature of the founding team, we are all passionate volunteers who saw the problem with for profit company owned marketplaces such as Opensea or Rarible. Some of them might say they are community owned but they have a company who takes profits from the platform.

Our projects are a collaboration with various individuals who have been in crypto a long time and love and support our ideas. Some projects are collaborations between projects. This is why we can do so much in such a short span of time with such a small budget. We would not do this any other way because the less we spend, the more value is left for the community.

All our projects will be built with shared resources in marketing and development. As you can see in Marketing we have spent on all the top class marketing with Cointelegraph and Coindesk. We also sponsored ETHDenver and Consensus 2021 which has just ended. We are also spending on AMAs such as this one and this week we have one AMA per week.

Even in the winter, our project will continue to be developed and will survive the test of time. We believe people will understand the value of our project and come to join our community.

In terms of weakness, we want more community members to come and play an active part. So RARE, FOTO and FANS all have a core community. The challenge is to identify and promote to team level within this year before we move to DAO governance next year.

Q5: As an artist, how possible is it for me to participate in the ETHDenver Auction? What are the requirements and benefits of participating in the auction?

Unique G – Community Manager of Unique One Network: ETH Denver was done in Feb 2021. We will have a new auction event but for this event, you need to contact the ETHDenver team to participate. We only provide the auction marketplace with the rollout of Unique One v2 Interface.

If you are not only an artist but a curator or want to host art shows, you can approach our team and if you are qualified, then we will have a community vote for funding for your idea. I dont think any other NFT platform have this.

Segment 3: Live questions

Q1. By implementing multi-chain support between Polkadot and ETH, does it allow to support ETH’s own tokens like erc721 or erc1515 in NFT?

Unique G – Community Manager of Unique One Network: We are implementing EVM on our substrate chain so yes we will have support for ERC721 and ERC1155. In terms of bridge solutions, only ERC721 is available at the moment. There are other interesting standards that we can implement. If you have been following NFT development on Kusama, we can also deploy RMRK NFT pallet on our chain so we can support Kusama standard NFT. They are different in structure, more capable but also more centralised. We will let the community decide whether they would like this on Unique One Network. We are totally agnostic, is there is a better NFT standard out there, we will consider to implement it.

Q2. About your ecosystem, can you tell me what security system do you have to guarantee privacy and protection to your users?

Unique G – Community Manager of Unique One Network: All our current platform is open and permissionless so anyone with metamask can create or transact on our platform. The only platform right now that needs age verification is Unique Fans as this is for NSFW NFTs. So we need to ensure they are real person and above 18. For this we use the same KYC system as Pornhub which protect the artist privacy which getting the age verified. We do not keep database of our users.

Q3. Do you have a Global ambassadorial Program or Referral Reward System? Do I get any benefit from holding $Unique in long-term ?

Unique G – Community Manager of Unique One Network: Yes we have a bounty allocation so anyone who wants to come in and contribute to the project will be able to earn the bounties. The bounties is not limited, it can be for finding bug, or starting a community, or translation or help hold event. Basically, you can come to propose and the team evaluates it and agrees. As for tokens, holding the tokens means you have a say in governance, that is a basic right as a community member in the Unique ecosystem. The tokens are deflationary meaning all the fees generated from the marketplace will be burned. So far for Unique One we have burned 2% of circulating supply over 5 months and we expect about 5 to 10% burn over one year. From year 3, we expect the value to increase as the rate of emission slows down but the burn rate will increase. Keep hodling. And also you can earn LP rewards on Polkaswap where you can also earn PSWAP and our tokens. Or you can provide LP to Uniswap to earn LP rewards.

Our marketcap is extremely low now and you also benefit form airdrop of new tokens when launched.

Q4. The principal characteristic of NFTs is that them cant be divided in parts. But, considering that UniqueOne allows this to happen by placing these tokens in an NFT vault, I want to know, what do you wanna achieve by fractionacing for example, an NFT image, if it has to be complete to have real value?

Unique G – Community Manager of Unique One Network: NFT fractionalisation is an extremely important technology but it is not applicable in every case. For an NFT to be fractionalised, most of the time, we need to ensure that this NFT is really worth a lot. The other thing to understand is that the real revolution of NFT will be when it becomes the on chain representation of real world assets, such as a house, land, car, lease, mortgage, etc. Going back into the Art world, we can for example represent the Monalisa as an NFT but not many people can buy it, so we split it into a million shares represented by erc20 tokens. By doing that, now more people can purchase it. Also, if the tokens are listed, then there will be liquidity in the system which leads to a more efficient price discovery mechanism. We can potentailly release trillions of dollars in this manner and bring this value on chain. This is why NFT and DeFi is closely related and we are working hard to innovate in this area.

Q5. What is your plan about globalization? Do you have local Communities for those user who don’t understand English well?

Unique G – Community Manager of Unique One Network: We have communities in Japan, China, Spain and Indonesia. We have just started a VN community at https://t.me/UniqueOneVIETNAM