At 4:00 pm on December 9, 2020, Terra Virtua CEO Gary bracey and Terra Virtua CTO Jawad ashraf visited the Uniswap Chinese community. Hosted by the co-founder and captain of BlockArk, they conducted a talk on "How does the immersive collection platform Terra Virtua subvert the NFT market?" ” was the subject of the AMA Live. This live broadcast event is supported by BlockArk and BitMax, and supported by ChainNews, Odaily, and BlockBeats media. The content of the live broadcast sharing is organized as follows:
Warren：Hello! Gary and Jawad. How are you doing? Welcome to the Uniswap Chinese community. First of all, would you please do a brief introduction about Terra Virtua? like telling us what you are doing and the vision you want to achieve in the future. If it is convenient, better to introduce your team to our members too.
Warren: Hello Gary and Jawad, welcome to the Uniswap Chinese community for AMA, we would like to ask you two to give a brief introduction to Terra Virtua, telling everyone what they are doing and the vision they want to achieve in the future. If it is convenient, you can also introduce your team to us.
Gary：Terra Virtua is a NFT marketplace and immersive ecosystem, We want to bring multiple genres to the platform - movies, TV, Sports, Comics, Music, art it all started out as an idea in a starbucks! We have managed to raise 2.5m in private round raise with some very big funds like NGC, LD Capital, Woodstock capital and Hashed to name a few! The team is also proud to be supported by valued brands including Unreal, Legendary Entertainment and Paramount Pictures and our great partners at Matic. We have a global team based in London, USA and Dubai. Our team is very rich in the terms of experience we have and the backgrounds range from Ocean games/Microsoft/warner brothers/Sony entertainment and much more!
Gary: Terra Virtua is an ecosystem that integrates the NFT market and immersive experience. We will introduce various forms of film and television, sports, comics, music, art, etc. into Terra Virtua. All these ideas started in a Starbucks of! We've successfully raised $2.5 million in private placements, including some very large funds such as NGC, LD Capital, Woodstock Capital, and Hashed to name a few! The team is also honored to have strong support from brands like Unreal, Legendary Entertainment, and Paramount Pictures, as well as partners on Matic. We have teams in London and Dubai in the United States, and the team's experience is very rich. The background of the team includes Ocean Games, Microsoft, Warner Bros., Sony and so on!
Jawad：Our goal is to make the term digital collectibles synonymous with Terra Virtua Whether you are a collector of art, a fan of sports, an influencer, a movie lover, Terra Virtua will be the place for you to engage with the brands you love
Jawad: Our goal is to make the term "digital collectible" synonymous with Terra Virtua. Whether you're an art collector, sports fan, influencer or movie buff, Terra Virtua will be your place to interact with your favorite brands.
Warren： Terra Virtua defined itself as an immersive collectible platform. Can you give us a detailed introduction to what this “immersive” means, how is this different from other NFT collectible /trading platforms?
Warren: Terra Virtua positions itself as an immersive collection platform, can you give us a detailed introduction to what is immersive? How is this different from other NFT collection/trading platforms?
Gary：Our mass-market NFT ecosystem will allow engagement through interaction across multiple platforms, bringing together Social, Gamification, 3D, AR and the innovations we have seen in the NFT and DeFi spaces. We want people to really truly be able to interact with their digital collectibles which is why we are the first NFT project to develop NFTs in 3D! We really do believe this will be a game changer and something that no one else is doing!
Gary: Our NFT marketplace ecosystem will be able to interact across multiple platforms, bringing together social, gaming, 3D, AR and the innovations we've seen in NFT and DeFi. We want people to be able to actually interact with their digital collectibles, which is why we want to be the first to develop a 3D NFT project, which we believe will definitely be a game-changer!
Warren： In your introduction, it was mentioned that Terra Virtua is cooperating with brands such as Paramount and Legendary. Is that ok to tell us what is the specific form of cooperation? From the perspective of IP, we see that Terra Virtua has signed many well-known brands, so in what ways will these cooperative brands be presented in the platform?
Warren: In your introduction, you mentioned that Terra Virtua has cooperated with Paramont (Paramount Pictures), Legendary (Legendary) and other brands. What is the specific form of cooperation? From the perspective of IP, we can see that Terra Virtua has signed information about many well-known brands. How will these cooperative brands be presented?
Jawad：Paramount - we have access to multiple movies in their portfolio, and the rights to review all movie archives and make great content. We have chosen the top 10 movies we feel are interesting to the mass market. These include new movies and classic. Legendary is a similar arrangement and we have some really new great IP coming through them.
Jawad: Paramount - We have access to multiple films in their portfolio and have the right to review all film archives and produce great content. We've rounded up the top 10 most popular movies. These include new and classic movies. Legends is a similar arrangement, and we've got some really new great IP coming through them.
Jawad：We have marketing commitments from them to promote Terra Virtua into mainstream media channels in the west.
Jawad: We got a marketing commitment from them to bring Terra Virtua to mainstream media outlets in the West.
Warren： How do you plan to attract more artists to your platform? And if it’s possible for you to shed some insights on your current user stats and transaction data?
In what way will you attract more artists to publish their works on your platform? In other words, what do you use to attract users? Can you tell us about your current user data and transaction data?
Gary：We have engaged with a number of comic book artists - well-known in the West - who are creating works specifically for the Terra Virtua platform.Nick Percival (artist for Judge Dredd) was the first but we have more coming in the new year
Gary: We've reached out to some comic book artists -- well known in the West -- who are creating work for the Terra Virtua platform. Nick Percival (Judge Dredd's artist) is the first, but we'll have more in the new year.
Jawad：We are onboarding multiple crypto artists, who are very excited about working with us, because their work can be seen in 3d and also in VR and Mobile. We have some of the top artists in crypto going live in the next 2 months.
Jawad: We are recruiting multiple crypto artists who are very excited to work with us because their work can be seen in 3d, VR and mobile devices. We have some top notch crypto art going live in the next 2 months.
Jawad：Also we are working with international artists and creating new digitaql versions of their work, such as Amrita who is from the middle east.
Jawad: Also, we are working with international artists and creating new digital versions of their work, like Amrita from the Middle East.
Gary：We also have a great collection of movie posters which we promote in the Art section too.
Gary: We also have a large collection of movie posters, which we also promote in the artwork section.
Jawad：We have over 20k registered users and have seen a steady growth in daily transactions, as of now we have been in beta, but now our marketing is going to kick in harder.
Jawad: We have more than 20,000 registered users, and the daily transaction volume is also growing steadily. We are still in the beta stage, but now we are working harder on marketing.
Warren：There are more and more “GameFi” projects in the NFT sectors. Have you considered combining games with NFT? or Is there a better way for users to participate in and interact with the Terra Virtua ecosystem?
Warren: There are more and more GameFi projects in the NFT+ game sector. Have you considered combining games with NFT? This seems to fit your concept of VR very well. Is there a better way for users to participate?
Gary：We have already explored a plethora of DeFi elements behind the scenes that will make their way into the Terra platform. Some of these ideas absolutely include gamification around our own IP, as well as opens the door for future collaboration with both crypto and traditional gaming entities. In early 2021 there will be updates on the platform that will allow users to further engage with one another, including more features to interact with their collectibles and Fancaves.
Gary: We have explored many DeFi elements, and these elements will be added to the Terra platform. For example, Terra will gamify users’ IP, which will open the door for cooperation between cryptocurrencies and traditional gaming entities in the future. In early 2021, the Terra platform will be updated, and more functions will be added to the Terra module to allow users to experience a deeper level of interaction.
Warren：We can see from the token economics that you started the first round of financing in 2018, and then conducted another round of financing in 2020. Can you tell us what you have done in the past two years? As we know, 2020 is the year of DeFi and NFT, so what impact will this have on your products？
Warren: We can see from the token information you disclosed that you started the first round of financing in 2018, and then increased token financing in 2020. Can you tell us something about what you have been working on over the past two years? 2020 is the year when DeFi and NFT exploded. What impact does this have on your products?
Jawad：The past two years were heavily development based. We are now live in beta, with a fully functional marketplace, fan cave, terra dome, and art gallery. We have built out our tech team to over 30 people, and have added talent in the growth, marketing, and community aspects of the company. As mentioned in the previous question, we plan on implementing several DeFi and staking elements around Terra Virtua collectibles. We have been sharing insights on some of these features on our Twitter account. I would highly recommend to follow us there, or join our Discord/Telegram channels as more detailed information gets released.
Jawad: Over the past two years, Terra has focused on development. Now we can see a fully functional trading market, fan cave, terra dome and gallery in the Beta test version. We have a technical team of more than 30 people and many team members responsible for marketing. As mentioned in a previous question, we plan to implement several DeFi and staking elements in Terra Virtua collectibles. We'll be sharing insights into some of these features on our official Twitter account all the time. It is strongly recommended that you pay attention to our Discord / Telegram channel so that you can keep abreast of the details of newly released information.
Warren：The last question is,what are the functions of Terra Virtua's token (TVK)? How does TVK holders participate in the entire platform? How does it capture value?
Warren: Okay, the last question is, what is the function of Terra Virtua's token TVK? How does TVK organically participate in the entire NFT platform? What is its appreciation logic?
Gary：We have a number of key value elements for holders of $TVK and we felt that it was important for users to be able to really benefit from this. We will be rolling out a number of benefits for $TVK holders such as priority access to NFTs, Staking, exclusive access to limited NFTs and becoming a member of Terra Virtua Prestige which is an exclusive $TVK club!
【Free question and answer session】
【Free question and answer session】
Warren: Okay, thanks a lot Gary and Jawad for their answers! That concludes the first phase of our AMA. Now we enter the second stage. You are free to ask questions to the guests, and the guests will choose a part of the questions to answer.
@Shorttail Cat:
If it's true as you think, digital art will have a great impact on some museums in the future. However, there are still many people who like to have physical collections. If you can buy digital art here and have it in real life, it would be great. What's your opinion on this.
If it is as you imagined, it will have a great impact on some museums in the future, but there are still many people who like to have physical collections. If you can buy digital artwork here and have it in real life Artwork couldn't be better, what do you think about that.
Jawad：Having a physical item should always be an option, but imagine if you have a samsung frame TV for example, you can see the art on your wall. A dynamic digital frame will probabloy be how people consume their art in the future, as technology makes the image more realistic.
Having a physical piece of art sounds great, but imagine having a Samsung TV screen where you could see moving art directly through it. In the future, it is very likely that people will consume artworks through a dynamic digital screen, because technology makes images more real.
@Sona Lee：
I saw that the auction cost you wrote is 0.012. Actually, the cost is 0.015. This price is already three times the price of the seed round. Will it be smashed when it goes online?
I saw that the auction cost you wrote is 0.012, but the actual cost is 0.015. This price is already three times the price of the seed round. Will it be smashed when it goes online?
A: Actually only a small part of the tokens was unlocked in the seed round, so it is far from the payback, and the amount of seed round is small. It mainly depends on private equity. The cost basis of private equity is actually less than twice the difference between public equity. This is a normal token economics.
In fact, you can see that the unlocked tokens of the seed round are only a small part, which is far from the payback, and the seed amount itself is not large. It mainly depends on private placements. The cost basis of private placements is actually less than twice that of public placements. This belongs to normal token economics.
@Jimmy:
As you mentioned earlier, Terra will introduce a variety of art forms, including art, movies, music, games, etc., but in fact, any form that is exquisite enough will be very valuable. Among the various digital art forms mentioned above, which one do you think is most likely to land and can continuously attract enough users to use Terra?
You mentioned just now that terra will introduce a variety of art forms, including art, movies, music, games, etc., but in fact, any form that is refined enough will be very valuable. Among the various digital art forms you mentioned above, which one do you think is most likely to land and can continue to attract enough users to use terra?
Gary：We plan on hosting a very diverse range of items. Sports, movies, tv, comics, music, etc. We expect different demographics to come, explore and become part of the community. We don't expect many people to just make a one-off purchase which is why we built an entire platform.We expect longterm engagement and hope everyone will find something to enjoy on Terra Virtua.
We plan to host various events such as sports, film, TV, comics, music, etc. We look forward to users with different interests to explore Terra and become part of the community. We don't expect users to use Terra just once, which is why we built an entire platform. Because we expect everyone to be involved for the long term and to find something they love on Terra Virtua.
@Roy：
How to buy it? Can individual investors buy it?
how to buy? Can retail investors grab it?
Jawad：You can buy on Bitmax from the 11th od December. There is an auction tomorrow as well.
You can buy it on Bitmax starting December 11th. There is another auction tomorrow.
@zh：
What do Gary and Jaward think of the liquidity problem that may exist in the NFT market? And is the current transaction type of Terra Virtua platform focused on C2C or B2C?
Thank you all three for sharing! I would like to ask two small questions: How do Gary and Jaward view the possible lack of liquidity in the NFT market? And is the current transaction type of the TV platform focused on C2C or B2C?
Gary：Within the platform itself, we see the focus currently on B2C. However, this will evolve as we begin offering marketing opportunities for large companies/brands to leverage the popularity of the platform
At present, the main types of transactions within the platform are B2C. However, as we start to provide marketing opportunities for well-known companies or brands, the popularity of the platform increases, and we will continue to improve this part of the transaction.
Jawad：We think like all crypto projects today, liquidity increases where people ahve interest. The only way to really increase liquidity and keep it high, its better to add NEW users into crypto who havbe interests in NFTs and rewards. This is why we aim to bring in 1 million new users into NFTs from the mass market.
We think that like every other crypto project right now, as liquidity increases, interest increases. The only way to really increase liquidity and keep it high is to recommend new users the cryptocurrencies he is interested in, such as specific NFTs and additional cryptocurrency rewards. That's why our goal is to bring 1 million new users from the mass market to the NFT market.
@小仙女:
What equipment can I use to see your VR products? Have you considered cooperating with projects like Decentraland($MANA)?
What equipment can I use to see your VR products? Have you considered cooperating with projects in the VR sector like Decentraland?
Gary：We are devloping our VR tech priimarily for Oculus Quest (and Quest 2). However, if there is a different set of hardware popular in China or another territory then we will certainly look to support those.
We mainly use VR technology developed by Oculus Quest. However, if there is a different set of hardware that becomes popular in China or elsewhere, then we will definitely support that as well.
Gary：At the moment we are not compatible with the likes of Decentraland as this is a technical issue but I foresee a lot more interoperability between companies in the future as the market evolves.
Currently, we are not compatible with similar decentralized systems because this is a technical issue. But I expect interoperability between companies will increase significantly in the future as the market develops.
@miserable and innocuous, unforgettable:
What are the similarities and differences between TVK and other NFT project tokens on the market? What are the rights and interests of currency holders? What is the current yield of TVK? What asset classes are covered?
What are the commonalities and differences between TVK and other NFT project tokens on the market? What are the benefits for currency holders? What is the current yield of TVK? Which asset classes are covered?
Gary：This a token that you use in the ecosystem and some of the cool features we will have include Terra Virtua Prestige a loyalty scheme for users as well as staking elements, farming, and a whole host of rewards! Its coming soon and we will release more details soon!
This is a token that you use in the ecosystem, and it will have some cool features like Terra Virtua priority, staking earnings, mining, as rewards for the whole system! TVK will be launched soon, we will announce more details as soon as possible!
Jawad：We will offer similar concepts as some other projects, but also we have a lot of rewards which we can provide because we own the rights to make some NFTS which others cannot, and also incentives such as VIP passes, premeires as part of our reward structure for staking our token and joining our prestige program.
We will provide a concept similar to other projects, but we will also provide a lot of rewards because we have the right to make some unique NFTS. We also designed incentive layers, such as VIP passes, premeire as part of staking rewards and joining the prestige program.
@Luilui：
Now many musicians make music in their bedrooms and computers. Is it easier for musicians to produce and distribute digital collections in the form of music? Is the process simple for publishing music works as digital collections? Do I need to understand development or code?
Nowadays, many musicians make music works in bedrooms and computers. Is it easier for musicians to create and distribute digital collectibles in the form of music? Is it an easy process to distribute musical works as digital collectibles? Need to understand development?
Gary：We are currently working with a number of major music publishing groups to figure out the best way of tokenising music. It's not a simple solution but we have a number of really creative ways we can leverage NFTs in that genre.It's going to take a little while but please watch this space!
We are currently working with some major music publishing groups to figure out the best way to tokenize music. It's not an easy solution, but there are many creative ways we can utilize NFTs. This will take a while, but please stay tuned to this board!
Jawad：Also the musician doesnt need to understand code, just send the final file.
And musicians don't need to understand the code, just send the final file.
Warren: That concludes our AMA for today, thanks to @Gary Bracey and @Jawad ashraf for sharing. Thanks again everyone! In the future, BlockArk will bring you more high-quality projects and content sharing. Just keep following the Uniswap Chinese community, or follow @BlockArk on Weibo to get relevant information as soon as possible.
