On April 19, BitCountry participated in the AMA with PolkaWarriors to introduce and answer questions of the community about their project - A metaverse portal on Polkadot.
Bit.Country is a metaverse and NFTs platform allowing all KOLs (Key opinion leaders) and influencers to create their own community to interact with followers and fans, moreover, Bit.Country's decentralized network makes it possible for them to operate, build their own economic model, govern and decide the development of their bit countries.
The AMA session was held in PolkaWarriors Telegram Channel, with the participation of Shannon Christie - Cofounder & Head of Game Development and Justin Pham - Cofounder & Head of Blockchain. Many interesting questions about topics such as: products’ features, their working process, their upcoming listing, etc were answered by their core team.
Below is the recap of the AMA session.
1. How was the idea to create this project born? It is very interesting. What do you want to achieve? What are your expectations?
Shannon:
In short, Bit.Country is a metaverse and NFT platform for community owners and opinion leaders to create their own space and legacy perpetually for their fans.
The idea starts from the lack of a go-to decentralized network that allows influencers to create their own virtual world for their fans with governance, assets and economy. We thought it’s the missing piece to bring traditional Web 2.0 users to Web 3.0 through the Decentralized World.
With a number of innovative features on Bit.Country, for example, a home for NFTs, Decentralized Marketplace, Continuum Map and Virtual DApp Store, we believe Bit.Country will become the go-to decentralized metaverse for all opinion leaders and influencers.
2. NFT is considered the next trend of the crypto industry after DeFi. Can BitCountry share your opinion about NFT? Where do you see the future evolution of NFT features and capabilities over the next few years?
Justin:
As Bit.Country is a virtual world parachain with NFTs, we strongly believe that NFTs will add a lot of value to artists, and creators through digital artwork, music, game assets, and authenticity tracking.
However, NFTs should not just be in the wallet, only visible when traded on the marketplace. NFTs deserve to be on display somewhere special for your fans, your community to interact with.
With regard to the evolution of NFTs, we expect that NFTs will be widely adopted in the future, and that it is an area for innovation. This is why we are a member of the NFT strategy for Polkadot and why the Bit.Country protocol provides a number of extensions to NFTs, such as executing code/function as a time capsule, shared ownership, generating revenue for owners, etc.
3. Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?
Shannon:
Most of our core team members/founders are currently living in New Zealand, and have an extensive background and experience in the Startups Incubation process. We have successfully launched 2 businesses from inception to multi-million dollar businesses in SaaS and EdTech.
Industry Connect (EdTech) that is currently running the world's first and largest international Substrate Runtime Academy program endorsed by Gavin Wood and other programs as well e.g Software Development, Automation Quality Assurance and Data Analysis.
Aimy (SaaS) is a childcare management platform with annual booking transactions over 100 million dollars.
Moreover, we are backed by a group of business and tech advisors from our strategic partners (such as Acala’s founding team).
4. Currently the NFT tokens are in full swing, so all the projects seek to implement their NFT tokens but all very similar, if BitCountry unlocks the full potential of NFT, does that mean that we will see totally new features of NFT and its trade?
Justin:
Bit.Country believes that NFTs should not just be in your wallet or traded on the marketplace.
We embrace the idea of extending the full potential of NFT from day one, so we not only allow NFTs minted from Bit.Country Protocol to be displayed on the world but also NFTs from other chains (e.g Polkadot/Kusama Parachains, Ethereum etc).
Moreover, the Bit.Country Protocol has a number of extra features for NFTs that will be available after launch (e.g execute code/function as a time capsule, shared ownership, generate revenue for owners etc.
5. Why do you think Polkadot Chain has the right infrastructure for this kind of project? Why did you choose this blockchain & what's the advantages using Polkadot? Do you plan to add more chains in future?
Shannon:
We believe in Gavin Wood’s vision of interoperability, highly scalable, highly secured blockchain infrastructure and that is what the Bit.Country Protocol needed for our vision.
Moreover, the entire ecosystem on Polkadot allows us to interoperate with other parachains and utilize their chain’s features. Recently our team has successfully implemented cross-chain token transactions between Bit.Country and Acala.
Bit.Country token will be composable with other chains and in the near future, we will support cross-chain NFTs and other cross-chain functionality.
In our roadmap, once we have successfully launched on Kusama/Polkadot, we will start work on supporting the Ethereum chain through bridges and, later, other chains.
In the live questions sections, their team did answer several short questions from the Polka Warriors community.
1. What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
Justin:
We have partners with some of our strategic investors and KOL who own more than 30 millions fans and they are so really interested in becoming the early user of Bit.Country.
We also get invited to Parity & Friends events to share about Bit.Country, but in the future, there will be a number of AMA events and Crowdcast to give the community the update on our roadmap.
2. What are your major goals to achieve in the next 3-4 years? What are your plans to expand and gain more adoption? How do BitCountry elevate crypto participants’ understanding about projects?
Shannon:
Our major goals for the next 3-4 years include getting ourselves onto Kusama as a parachain and to have our bridges set up to support Ethereum and other chains. We will also look at adding more ways to experience Bit.Country without going into too much detail, supporting other devices.
Currently, we already have more than 10k people on the waiting list with a number of important KOLs with over 40 million followers combined. We will be onboarding them into the community along with our partners.
For the project, we are designing it so that it’s easy for people to get started. We want to ensure that it's easy for people from a web 2.0 background to get involved in a lot of the experience. But it is important for people to understand it further for the more complex use cases.
3. All project coins have their main Utilities & real-life use case! So, Can you tell us what are the main roles of your coin are in your ecosystem? Explain it's Utilities & Real-Life use cases? and Why should i invest in your coin for the long term?
Shannon:
For our native currency, it is used for multiple parts in the platform. It is used for the governance of the platform (giving the community the ability to have their say in many aspects, like the direction of the project, how the protocols behave, runtime upgrades and even things like maintaining a good community on the platform, like slashing bad bit countries).
Also used for most fees and payments on the platform. Used to provide backing to NFTs and other assets created and for staking (a fund that is held to ensure that a user follows the community guidelines and more).
As part of the platform, user's will be able to stake their currency into the platform through bit countries so that they can receive interest on their staked funds. This'll give many users a way to utilize their held funds to achieve growth and encourage the development of a good community on Bit.Country.
4. Do the token holders have the right to participate in the governance of the project? On what kind of decisions can they vote on about the project?
Justin:
Yes, Bit.Country token holders can cast the vote to shape the future of Bit.Country, token holders can make the proposals and if they gain enough support it will become a referendum and executed.
The Bit.Country Council will be responsible for any critical updates / proposal and they will also need to pass the voting process.
Read more articles about Bit Country here:
https://api.dotmarketcap.com/blog-detail/104/a-deep-dive-into-bitcountry
