Recap of AMA of Avalanche with NFT Stars
On the 20th of October 2021 @ 9:00 AM ET, An AMA session was held on Avalanche official Telegram group with special guest Dan Khomenko from NFT Stars. Below we present to you an excerpt from AMA with questions and answers. It was wonderful and very informative, Enjoy reading :)
Andrea ∀argas | Avalanche
Welcome Dan Komsky
Dan Khom | NFT Stars
Hello guys
thanks for having me today=)
Andrea ∀argas | Avalanche
Thank you for being here! Before we dive into the questions, can you briefly introduce yourself to the Avalanche community and share some background on your journey to founding NFT STARS?
Dan Khom | NFT Stars
Before getting into NFT, I worked in FinTech, banking, property development, blockchain and crypto. At the same time, I was advising several IT companies and thus how I’ve met a lot of great experts in the field. Eventually, together with some partners, we founded one of the biggest blockchain consulting and software development companies in the crypto industry. We work on a variety of challenging and exciting projects that shape the development of the blockchain industry as a whole.
I keep up with the upcoming trends and it was natural for me to get into NFT. The first of our own projects was spaceswap.app and then after testing all nfts there we decided to launch the NFT marketplace — NFT STARS in July 2021. At the same time, our team started to work on our own NFT game and collection — SIDUS: the city of thousand heroes
Andrea ∀argas | Avalanche
Thats amazing, lets dive into the questions. Question #1 by dodoavax on Twitter: What differences are there between your NFT market and other NFT markets?
Dan Khom | NFT Stars
The biggest difference between NFT STARS and other NFT marketplaces is our strict selection of artists. NFT STARS was created with the aim of shifting the market’s focus from NFT speculation to NFT art appreciation — and this is how we do it.
Thus, by applying to become an artist on NFT STARS, creators can be sure that their works won’t get lost among the millions of trash tokens and NFTs created for no other reason than to join the trend. And collectors know that with us, they will find only the best of what the NFT market has to offer.
Another key difference is that NFT STARS is constantly evolving and introducing new NFT products and services. Our team has launched its NFT collection (https://opensea.io/collection/sidus-nft-heroes) and is now working on NFT-Radio.com and the AR Gallery (https://www.youtube.com/watch?v=_7QsOo2LE9k) , which will change how people interact with NFT art and music. We’re also working on our own blockchain game, the demo of which you will be able to see on the 26th of october nftheroes.app as well as a new website with all game details.
In addition, we are selecting the best business partners from the art industry such as https://medium.com/nft-stars/nft-stars-signs-a-business-partnership-agreement-with-double-trouble-creatives-463d1667a505 to work on some cool art projects together that you will be able to enjoy very soon.
it hasnt been announced yet but you can check how AR looks via this link: https://www.youtube.com/watch?v=_7QsOo2LE9k
Andrea ∀argas | Avalanche
Question #2 by andre_shifu on Twitter: What is the main reason that NFT STARS choose #Avalanche Network as one of the new supported networks on your NFT platform? What plans does NFT STARS have next for this integration?
Dan Khom | NFT Stars
The NFT market is growing at a rapid pace: more and more artists are coming to the marketplace and more and more users want to buy their first token. That’s when the question of network congestion and the cost of operating on the Ethereum blockchain becomes a big block to further development.
The NFT STARS team decided on the Avalanche integration for various reasons. Firstly, the Avalanche network processes thousands of transactions per second and represents a massively scalable and secure platform for NFT STARS users.
The second reason is that the Avalanche consensus mechanism and technical characteristics enable fast and low-cost transactions. Thus, by minting, buying and transferring NFTs minted on the Avalanche network for NFT STARS, users will pay only a fraction of the cost that they would on Ethereum. It opens up the NFT market to artists and digital collectors who, till now, have been repelled by the high costs.
Lastly, we see big potential in the Avalanche community. We’d like to support users who want to stay true to their beloved network but also want the chance to interact with the NFT market.
Andrea ∀argas | Avalanche
Great! Question #3 by Resuleren67 on Twitter: Why was NFTStars founded? What future do you think NFT has?
Dan Khom | NFT Stars
Since the beginning of 2021, the NFT market has been growing at a fast pace. Auctions of Beeple’s ‘Everydays’, CryptoPunks and other famous artwork has attracted a lot of attention to the market. Artists who’ve never been interested in NFT art, tokenization of their works or the digital space, have started to get into NFT in search of big and quick money. NFT marketplaces were flooded with shit tokens and collectors speculating on them. Artists who had sincere intentions got lost in the chaos. We wanted to create a marketplace that valued talent more than anything else. This is how the story of NFT STARS begins.
We handpick every artist and limit the number of auctions we hold per month. Since the selection procedure is so strict, we are able to provide special treatment to the chosen NFT stars. On NFT STARS, celebrity artists have personalized pages with no limits on how they can express themselves. Our team puts a lot of effort into promoting their art and helps artists prior, during and after the auction.
We believe NFTs will take over all creative domains — visual art, music, photography, even sculpting. The non-fungible token standard is a solution to the many issues that musicians and other creators currently face — it’s only a matter of time before more and more musicians start to tokenize their compositions and program their NFTs to collect royalties with every resale of their tracks.
Andrea ∀argas | Avalanche
Question #4 by theofobos on Twitter: In general, we read that there are vulnerabilities in NFT codes. Do you have any precautions for this?
Dan Khom | NFT Stars
The auditing firm CertiK, one of the most renowned and trusted audit companies out there, confirmed that NFT STARS’ smart contract functions properly and is safe. They found no vulnerabilities in the system. Each and every piece of code was checked for errors. However, it would be fair to acknowledge the fact that no system is a 100% secure one, — I believe that the team is experienced and professional enough to detect and minimize any security breaches early on that might occur along the way.
Besides, no NFT can be minted on NFT STARS without pre-moderation. Thus, we ensure the security of our platform and follow a strict copyright policy.
It’s important to say that many things that we are planning to use in nftstars.app platform have already been tested on our other product www.spaceswap.app which is a DEFI project.
Andrea ∀argas | Avalanche
Auditing is very important! I’m glad to know you did. Lets go with question #5 by kipo_opik on Twitter: Does NFT STARS have its own governance token?
Dan Khom | NFT Stars
Yes, the NFT STARS project’s native token is NFTS which will soon be launched on avax chain as well and will operate via our cross chain bridge. The NFTS token will perform a number of important functions, some of which are still under development. In the future, users with NFTS on their balance will be able to: participate in the DAO voting system, purchase NFTs using NFTS tokens, buy tickets to the www.nftmaniaquest.com buy special art tickets to be presented at our AR gallery mobile application and get access to upcoming products and services on special terms.
Andrea ∀argas | Avalanche
Question #6 by alicancaliskan: What innovations do you have planned for your NFTs? Will you make a difference in the market?
Dan Khom | NFT Stars
love this question, its going to be a big answer=)
Sure, we intend to make a difference! Right now we are working on NFT Radio, the first ever blockchain-based radio station that will stream unique content 24/7. It will also include an NFT marketplace where we will sell all our original audio content. Powered by NFT and blockchain technologies, the new service addresses many of the issues that creators and musicians currently face and is poised to change the music industry once and for all.
NFT Radio addresses the copyright issues that many artists face and makes the industry more transparent. NFT also changes the way musicians promote and monetize their tracks. It cuts out all intermediaries from the process, so the musicians, DJs or other content creators are paid directly for their original productions. Besides that, NFTs can be programmed to collect royalties from all secondary resales and credit it to the creator of the content.
Our team is also working on an AR Gallery, a virtual space that’s powered by Augmented Reality technology. From the screens of their smartphones, users will be able to explore and enjoy exclusive NFT artwork, immerse themselves in NFT art and have the ability to examine every little detail that artists put into their work.
We are launching a massive NFT quest soon via www.nftmaniaquest.com, where ppl will be able to play in teams solving amazing puzzles and winning awesome prizes. First launch was in the beginning of this year and it was a super success.
Game NFT p2e project is also going to make a big splash in the gaming industry but all secret details will be revealed on the 26th of october =) We made our favourite AVAX founder as heroes in this game as well: https://opensea.io/assets/0x0ffa87cd27ae121b10b3f044dda4d28f9fb8f079/3558?ref=0x5c5321ae45550685308a405827575e3d6b4a84aa
There is an extensive list of things that make us quite innovative for sure:
Careful Selection
Artists featured on the marketplace first go through the executive board’s screening process, after which the active users of the platform participate in their own selection process. That way, the marketplace isn’t flooded with creators speculating on the growing interest — each creator is the true star.
Gas-free NFT Minting
NFT STARS establishes favorable conditions that enable artists to create and evolve. The marketplace frees creators from the burden of fees. NFTs are minted at the time of sale and the purchaser pays the Gas expenses for the minting process. The artist doesn’t pay Gas fees while minting their work.
Collaborative NFT Creation
Furthermore, the platform facilitates projects between its artists and enables joint NFT ownership. A group of artists can create an NFT as a team and the proceeds from its sale will be redistributed among all the team members.
Augmented Reality Gallery
To bring art closer to the audience, NFT STARS allows artists to create their own personalized 3D galleries on the screen of smartphones. The gallery is powered by AR technology and will walk users through the artists’ exhibitions, displaying their best works from the comfort of their homes.
NFT Pricing Scanner
If an artist is new to the NFT space and is struggling to put a price on their artwork, NFT STARS runs the NFT Pricing scanner which analyses works in other marketplaces. It goes through art that is similar by theme and style, providing artists with a suitable price guide.
Fractional Trading and User Inclusion
Users are a big part of the platform’s operations and development. With NFTS tokens, art lovers will be eligible for NFT discounts, platform liquidity mining and other extras. NFTS holders can buy works of art for NFTS and participate in platform governance. Active participants will be rewarded with tokens and will be included in the artist selection process. NFT STARS opens the NFT world to everyone. Now, users who have been priced out of the market can participate in fractional NFT trading and even add high price-tag works from the biggest names to their collection.
We also have a telegram channel where we can talk more about it https://t.me/NFT_STARS
Andrea ∀argas | Avalanche
[Replying to Dan]
Pretty interesting what you’ll be doing with NFT Radio, AR Gallery, Gaming and all what’s coming. Looking forward to it.
Question #7 by novo biotech on Twitter: Welcome to @avalancheavax ! This is probably the best place for DeFi including NFTs. I am interested in NFTs with augmented reality. Will you support this feature on #Avalanche ?
Dan Khom | NFT Stars
[Replying to Andrea]
I cant wait for it myself ahah =)
Yes, the AR Gallery application we are working on will also display NFTs minted on the Avalanche network.
This is going to be the biggest AR in the nft art space with an amazing quality and awesome art effects
Andrea ∀argas | Avalanche
[Replying to Dan]
I already can imagine myself walking through those rooms! Amazing
Question #8 by tbY5ob3KEDJrkOk on Twitter: With the Avalanche network integration, how does the NFT STARS team want to ensure the free flow of #NFT liquidity? Will there be any famous artists involved?
Dan Khom | NFT Stars
We’re planning several exclusive drops to celebrate the launch of NFT STARS on the Avalanche network. We want to prepare a big surprise for the community — that’s why I don’t want to name-drop at the moment. We also believe that fast and low-cost transactions will attract many artists who might previously have hesitated about getting into NFT. We expect to have a positive effect on liquidity flow and the NFT STARS community will hear many new names.
Andrea ∀argas | Avalanche
Question #9 by Ray230521 on Twitter: Do you have an Ambassador Program available? If yes, how can I join it? And can you tell us what benefits the Ambassador gets?
Dan Khom | NFT Stars
this is coming next once we launch a marketplace mining , where for certain actions that benefit the entire nftstars community you will get NFTS tokens
this token will also be launched on avax soon
currently its on eth and bsc
Andrea ∀argas | Avalanche
And the last question from Twitter is from FabianRizalez asking: What would be the conditions for exhibiting digital works in some of the blockchains supported by this platform, can any user do it?
Dan Khom | NFT Stars
we are very supportive to all artists and try to help everyone as much as we can. Besides listing with us you get many other benefits including free publication in the top media around the world, ability to participate in our own exhibitions like this: https://sidusnft.com/ and a lot of other great things
every artists get a special page designed for them
with an ability to share a story of their art for auctions etc.
Andrea ∀argas | Avalanche
Amazing! for anyone interested, what’s way to get listed with you?
Dan Khom | NFT Stars
great question , process is very simple : Step 1 register an account with us by connecting your avax wallet
fill in all info and wait for verification
then you can either select which nft you want to make :
on avax or any other chain
Andrea ∀argas | Avalanche
Great and illustrative explanation :) Thank you for answering all these questions from Twitter @dankom ! Now, we will unmute the channel and take the community’s questions.
Dan Khom | NFT Stars
Do you have any Grants program for creators ? Who can access it? And how won can apply for it?
what is strategy will NFTStars use in educating and assisting newbie in NFT? — this is a good question, we are proud to be super supportive and helpful to all beginners , we have 24–7 customer service support that is ready to answer all of your questions and help you to make the entire nft art creating process as smooth as possible. Simply either join our telegram or discord and our customer support will help you with everything , or select 24–7 support on the website that looks like this :
Community Round
Ivani Wu
Partnership is an important thing for all project.
So could you tell about the partnership in NFTStars?
What are the benefits that NFTStars get from those partnership program?
Dan Khom | NFT Stars
this is a good question , let me show you some of our partnerships : https://twitter.com/ReefDeFi/status/1408048001856200705
https://twitter.com/nftstars1/status/1414967767653093377
https://twitter.com/chainlink/status/1402989988698935316?s=21
A k 🔺
Do you have any Staking Mechanism for your NFTs ? This an bring huge Adoption if people can also earn by NFTs without selling them ?
Dan Khom | NFT Stars
yes the most important staking pool is coming in few weeks and will have a great apy on the nftstars.app website , but right now you can already stake your nfts on spaceswap.app
I think it was a great AMA session Andrea !
We had lots of good questions , loving it !
Andrea ∀argas | Avalanche
Thank you so much for taking the time to answer these questions @dankom. It was great to have you here!
Dan Khom | NFT Stars
You are more than welcome to join our Telegram we can help you with all questions
About NFT STARS
NFT STARS is a new NFT marketplace that enables NFT liquidity flow on multiple blockchains. The project is pursuing the goal of introducing more market actors to the world of non-fungible tokens and to the benefits they present. The platform has accumulated a unique suite of products and services aimed at digital art lovers, creators, investors and startup founders.
Follow NFT STARS’ social media channels to learn more about the project and to stay in the loop about its development: Twitter, Instagram, Facebook & Telegram Chat.
About Avalanche
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
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