AMA RECAP: ByteNext meets the Polygon Community
Guest: Uyen Pham, ByteNext CMO
Host: Aditya of Polygon
Introduction
Aditya: A Warm Welcome to the Polygon community ladies and gentlemen. We’ll be starting an AMA session with Uyen Pham from ByteNext. You’ll get to know everything about the ByteNext and at the end you can ask your questions to her (if you have any) I am sure she’d love to answer those. So without further due let’s welcome her to the Polygon Community
Uyen: Hello everyone, this is ByteNext’s Uyen Pham. It is my pleasure to be here today. I am currently serving as CMO in ByteNext.
Questions from Polygon
Q1
Aditya: Can you please tell us about yourself and also about how ByteNext came into existence…?
Uyen: I first joined the market in 2017 and have been active since then. I love technology & finance and I found myself home in this market.
ByteNext was created by a team of crypto engineering veterans in early 2021, right when the NFT trends started to pick up attention in the blockchain world. After some tweaking and testing, we decided to go full scale of developing Metaverse economic and related utilities.
You can learn more about our project on https://medium.com/bytenext
Q2
Aditya: Amazing! We’ve already got a basic hint about the project. But can you please tell us a bit more about ByteNext, its features, its standout points and everything about it that excites you ?
Uyen: ByteNext is a NFT-centric Metaverse Incubator, a truly decentralized Metaverse.
Our immediate focus is on an ecosystem revolving around NFT, moving towards Metaverse, where we incubate NFT-projects, from arts to games.
Our first take on this approach is AvatarArt, which is an NFT marketplace where physical artworks will be turned into NFT and can be sold or auctioned. After that, the buyer will own both the physical & virtual versions of the artwork.
For more information, you can visit this article on our Medium: https://medium.com/bytenext/bytenext-ecosystem-evolves-building-nft-centric-metaverse-with-ar-and-vr-enhancing-445dc3c47497
Q3
Aditya: I was pretty curious about all the major milestones ByteNext has achieved so far and what can we expect from you guys in the future?
Uyen: We are a young project with a big vision.
Our milestones would be getting more than 100k followers on Twitter, more than 63k members in our Telegram group, BNU got listed on Pancakeswap and MEXC.
Currently we’re working on launching AvatarArt by the end of November, followed by a launchpad and a DEX. A Yield Guild is planned for next year, to support many interesting DAOs to come.
In summary, ByteNext’s go to market is selecting NFT projects with good, long lasting value, supporting DAOs that gain benefit from that interest on them, providing networking, promoting shared values and allowing breakthroughs to happen.
For more information, please take a look at the Roadmap on our website: https://bytenext.io/
Q4
Aditya: I am quite sure that while getting these amazing milestones you might have faced a lot of hurdles… So, What are the Challenges that you faced in your journey?
Uyen: Sure Aditya! ByteNext was first built on BSC, but then we realized we wanted it to have even more accessibility, so we decided to build ByteNext on more than one chain. Polygon has the same programming language as BSC and our developers find it simple to move from BSC to Polygon. We really enjoyed Polygon’s lower fee and depth of decentralization so far.
Q5
Aditya: Let’s move a bit to the tech side… What are the security measures taken by ByteNext?
Uyen: For smart contracts, we already had ByteNext audited by CertiK — one of the best security solutions providers out there. Besides, we have an inhouse security team to prevent us from attacks. So to say, I think we are kinda safe with ByteNext
Q6
Aditya: Definitely agree that Security is one of the major factors for any web3 project and you’ve done an awesome job there!! Can you talk to us about the roadmap of ByteNext and what all can be expected in the long term future?
Uyen: It’s no secret that everyone is raving about Metaverse, especially with that recent Meta announcement. But we would like to stick with a Metaverse vision of our own: Decentralized, Autonomous with participants who can and have the will to bring their own expertise and ideas for a common goal.
Q7
Aditya: How can you own both physical & virtual versions of artwork after buying it on AvatarArt?
Uyen: NFT is a tool to support us in proving ownership of a certain asset which can be digital or physical. Normally, digital assets are prioritized to be listed on NFT exchanges because the process is much simpler. It does not need a storage facility to conduct the due diligence process before listing them on the exchange. We have already settled with depository service where we can store artworks, with insurance service where artworks will be insured, with curator service where artworks will be curated. We choose a more difficult but more potential path for greater opportunities.
Q8
Aditya: What are you gonna do with your launchpad? How are you gonna attract projects to it?
Uyen: Our launchpad focuses mostly on NFT. It is to help investors discover early-stage projects before ICO but they need to stake BNU to get the chance to buy their tokens. Meanwhile, we help projects raise funds & liquidity, help them with strategy, marketing, technology & networking. It’s a true win-win for everyone involved.
Q9
Aditya: If you’re gonna build a DEX then what will you do to incentivize liquidity providers? The main reason why most new projects fail is because they do not have incentives in place for liquidity providers, how will BYTENEXT prevent that from happening?
Uyen: DEX will come later so we have more time to prepare. As of now, we are planning for a Liquidity Provider Reward program where Liquidity Providers will earn rewards based on their maker volume contribution. Other Liquid Provider incentives are also being considered.
Q10
Aditya: Can you reveal a little more about those DAOs
Uyen: Well we can’t announce it yet, but it will be very close to AvatarArt.
Q11
Aditya: AvatarArt is your only project now? Can you be more detailed about it?
Uyen: As mentioned above, AvatarArt is our spearhead, and it will be supported by a Launchpad and DEX by ByteNext. Simply speaking, we will develop and incubate many NFTs or DAOs, and provide them with all necessary utilities in this phase.
Regarding AvatarArt, it’s a physical Fine Art NFT marketplace. ByteNext has partnered with CHỌN, a leading curator and auctioneer in Vietnam contemporary art scene to audit and sourcing. Partners like CHỌN will be selected for other regions.
We would like to think of AvatarArt as a one-stop station for Artists, Patrols, Collectors and Art appreciators for Blockchain economy. One of the most important utilities of AvatarArt is breaking geological barriers with Extended Reality.
Q12
Aditya: Metaverse is mentioned in your ecosystems, can you tell us more about what you’re gonna do with it?
Uyen: We have planned an Auction House and Meta Gallery with extended VR and AR support. And that’s just the first step. You may take a sneak peek here: https://demo3d.avatarart.org/
Q13
Aditya: I guess we’ve covered more or less everything but before we conclude, I think there are many in the community who would love to be a part of ByteNext , and stay up to date with all the news and other developments. What’s the best way to keep in touch?
Uyen: We keep our community engaged and active mainly through 4 platforms. Everyone is welcome to join us and be a part of the ByteNext family:
https://twitter.com/Bytenextio
https://www.facebook.com/ByteNext
Questions from community
Q1
Member: So what’s this AvatarArt thing about?
Uyen: AvatarArt is one of the few physical NFT Fine Art Marketplaces. Here we mint Painting, Songs, Novels into NFTs. Some of them can be tokenized to be launched on our Launchpad.
Q2
Member: I think this is too big for a project. What are you focusing on right now? How can you assure the success of it?
Uyen: Fine Art is a big market. AvatarArt provides a friendly and quick way to sell, collect, and invest in Fine Art assets. With NFT, we broke a lot of traditional barriers compared to the old practice.
Q3
Member: when will AvatarArt be officially launched?
Uyen: It will be on December 2021
Q4
Member: How is it going with the AvatarArt ecosystem? When will there be any opportunities for real art creators?
Uyen: We will have an open application form for all artists, or in fact, anyone who can create, or own art.
Q5
Member: I see you have a really big ecosystem, how big is your team to achieve the completion of it?
Uyen: We focus on uniqueness and real value. For example, AvatarArt tackles the Fine Art business, especially Contemporary Art scene pain points of geological barrier or transparency.
Q6
Member: Could you tell us your vision for the next few years to keep the investors’ trust and support?
Uyen: We will boost our VR and AR application for Metaverse, granting current projects even better and more immersive utilities. Also, we also launched some really quality IGO.
Q7
Member: The project ByteNext aims to build up AvatarArt with a user-friendly interface Well you’re gonna help the artist to turn their artwork into NFT’s but how you gonna make it authentic as there are many copies of one things so how you gonna give that authenticity to that NFT of art which is real?
Uyen: Our partner in art audit and assessment CHON is actually the leading entity in Vietnam. Yes we will have rounds of verification before minting.
Q8
Member: Trust and security is very important in any business , what makes investors , customers and users safe & secure when working with your project?
Uyen: CertiK is our solution for that
Q9
Member: It is known that BNU intends to develop a launchpad for Metaverse and NFT Projects, what advantage does ByteNext have over other launchpads?
Uyen: We support both INO and IGO
Q10
Member: ByteNext is already 1 year old. So, over the past time, what are you proud of most?
Uyen: It must be our team integrity and the will to realize our initial Metaverse vision.
