On 22nd of March SOTA conducted an AMA in Crypto Revolution Community. SOTA is one of our TOP Crypto Projects for 2021. Our guests were Thao, CEO of SOTA and Tommy, Co-founder, and Head of Product Development of SOTA. Let’s take a look at most interesting points from our Conversation!
INTRODUCTION
Danny | Crypto Revolution: SOTA AMA is starting now
Welcome Tommy and Thao! Happy to have you with us today ??
Nguyen Thao | SOTA: Hello Danny and everyone??
Tuan Le | SOTA: Hello Danny and everyone!
Nguyen Thao | SOTA: I’m Thao, CEO of SOTA. Very nice to be here today and chat with you.
Tuan Le | SOTA: I’m Tommy, Co-founder, and Head of Product Development of SOTA. Thanks to have chance to see all of you here.
Danny | Crypto Revolution: Could you please tell a bit more about yourselves guys and how did you get involved into Crypto in General and in SOTA after that? ??
Nguyen Thao | SOTA: Sure?? My background was mainly from the Financial Industry, with 14 years experience working in Japan and Europe. In 2018, I made a career move to become the Business Development Director of TomoChain Japan. Observing the movement of NFT market and its potentials, I worked with my co-founder and partners to develop the SOTA NFT platform.
Danny | Crypto Revolution: Wow. That’s impressive experience ??
Tuan Le | SOTA: I started a career in the largest IT company in Vietnam, and later on, became a director. After leaving at the first company, I founded and was the CEO of SotaTek — an IT consulting and development company with 300 employees at this moment, providing services to customers worldwide. I am in the founding team and CEO of SotaNext Corporation, an IT company that specializes in blockchain consulting and development services.
I’m very interested in blockchain and I believe it will soon become a mainstream technology, especially I see very potential of NFT. That why I joined to SOTA team.
Danny | Crypto Revolution: Oh well. Definitely 2021 will be the year of NFTs. As CZ BINANCE said in one his Tweet: “If you are an Artist and you are missing the NFTs you are loosing 1000s of dollars “!
Nguyen Thao | SOTA: Yes that is very true for this year!
Danny | Crypto Revolution:??
Nguyen Thao | SOTA: And more than that, we believe in the long-term development of the NFT market.
Danny | Crypto Revolution: Of course ?? Could you please introduce SOTA in Layman’s term to the Community?
Nguyen Thao | SOTA: SOTA is a multi-chain digital content NFT marketplace where users can create, sell, and buy digital content NFTs easily. The platform’s 1st version was launched on Feb 10th 2021 and is currently running on Binance Smart Chain.
Danny | Crypto Revolution: Why you choose BSC, cause of the low Fees?
Nguyen Thao | SOTA: Yes, that’s is one important reason. Besides, BsC has a big community and a good ecosystem.
Danny | Crypto Revolution: Yeap. And a lot of Hype lately
I personally use the SOTA Marketplace. It’s really great place to sell your NFTs, so easy to use. So definitely my Feedback is totally positive. What exciting features you guys plan to add in the upcoming weeks/months?
Nguyen Thao | SOTA: Yes you have many nice NFTs on SOTA. I like them a lot ??
Danny | Crypto Revolution: Thank you ??
Nguyen Thao | SOTA: Thank you for the positive feedback! Tuan Le will give some update on the coming soon features.
Tuan Le | SOTA: We plan to release some new features in near future:
+ Farming functions (you can stake SOTA to redeem NFT).
+ Make offer (you can send your offer to buy NFT).
+ Social sharing
+ Push NFT on social
+ Send in/ send out NFT to / from sota.finance
+ Support external wallet.
Danny | Crypto Revolution: Exciting ??
TWITTER QUESTIONS
Q1. From Sarath v mohan @Sarathvmohan
For any blockchain token to be truly successful it must have real utility. So what are the uses and functions of $SOTA token what roles will it play in your Ecosystem?
Nguyen Thao | SOTA: SOTA token holders are eligible for the following:
• Stake SOTA to earn limited NFT editions
• Propose/vote for new functionalities or developments of the platform (governance activities) and earn rewards.
The SOTA platform has revenues. Starting from year 3, a portion of platform transaction fees will be used for the governance purpose to reward token holders, which will support the long-term value of the SOTA tokens.
Danny | Crypto Revolution: Thank you Thao. Glad to see you guys plan to stay long term ?? And also I see every day increase of SOTA Token Holders since your TGE on Uniswap. More than 4500 Holders now. So it’s pretty amazing ??
Nguyen Thao | SOTA: We are glad that SOTA token holders are very enthusiastic about the project and it is a great support for us.
Q2. Cetin @devonelittle36
Sota is a multi-chain digital content NFT platform. For now, i only can see BSC. Do you plan to expand to other blockchains like Avalanche, Solana etc?
Tuan Le | SOTA: Let me answer this question. Yes we will add more chain due to at the beginning we designed to be a multi-chain NFT platform. Firstly we plan to release version to support ETH on Q2–2021. Later on we plan to add other chains gradually. After ETH, what next maybe depending on voting from our community.
And maybe it will be Avalanche or Solana…
Danny | Crypto Revolution: Nice!
Nguyen Thao | SOTA: Yes, at the end the goal is not to add many chains, but to provide the most efficient platform for users.
Danny | Crypto Revolution: Is the BSC Bridge already working or is still in Development?
Tuan Le | SOTA: It ready for release as our plan. We will release it on tomorrow (23-Mar-2021). We done all final steps before release.
Danny | Crypto Revolution: Noiceee. Now this is hot news ??
What to expect from the upcoming SOTA Bridge and Staking launch? Something you can tell us in advance? ??
Tuan Le | SOTA: After launch SOTA Bridge we plan to listing SOTA BEP20 on pancakeswap.
Danny | Crypto Revolution: Lol. Another hot news. ?? Man you are killing us with nice Updates ??
Nguyen Thao | SOTA: Besides, users can stake SOTA BEP20 on our platform to earn rewards.
Q3. Czayn @CzaynCrypt
There are many aspiring artists out there that want to showcase their arts, what are the qualification to put the arts on your platform? Is the price of NFTs is just fair or overprice?
Nguyen Thao | SOTA: We are happy to onboard many artists to the SOTA platform. Please email [email protected] to apply to become a verified creator.
As SOTA is a P2P marketplace, it is up to the NFT owners to set up the prices. So it is a bit difficult for us to comment on whether the prices are fair or overpriced.
What we can tell is that because the costs to create NFTs are low with BsC in our platform, the NFT prices do not need to make up a large portion for these costs.
Danny | Crypto Revolution: ??
UPTRENND QUESTIONS
Q1. From Crypto Investor
With 1000 sota i can stake to earn nft and this is awesome.Sota is only in 1INCH exchange and uniswap. Do you have plans to list sota in more descentralized exchanges ?
Nguyen Thao | SOTA: Great to see a lot of good question. I’m really grad to be here today ??
Danny | Crypto Revolution: Yeah. Community is great ??
Tuan Le | SOTA: As i talked to you before we plan to release sota bridge to swap between SOTA ERC20 and SOTA BEP20. After that we will listing SOTA BEP20 on pancakeswap. We also have plan to listing SOTA on some centralized exchange, please stay tuned for new announcement from us. BTW after consider we decided to remove 1000 SOTA limited of staking and let users can stake as many SOTA token as they want.
Danny | Crypto Revolution: Oh that’s really great. Allowing small Investors to earn Rewards as well. Good work guys!
Q2. From Noufal Basheer
Do you screened all artworks in your platform before allowed to be put up for sale in the marketplace? How do you bring qualified artists to your platform? What requirements do you considered to be an artists?
Nguyen Thao | SOTA: SOTA is a P2P platform so it is rather difficult for us to screen all artworks before allowing posting in the market. Nevertheless, we try to do as much as possible to keep a healthy market.
We require KYC submission to become verified creators and send instructions to them that they can post only the artworks that they own. A reporting function is coming soon which will allow users to report inappropriate content.
Danny | Crypto Revolution: Nice. This will be great :+1
Nguyen Thao | SOTA: In the future, we plan to add AI tools to support more efficient screening of the content.
Danny | Crypto Revolution: Awesome ??
Q3. From STRANGER ?606
Can you tell us about market pie you are trying to conquer, your competitors and your SWOT analysis for your offerings?
Nguyen Thao | SOTA: We aim to become one of the top global NFT platforms. Compared to most available NFT platforms that are running on Ethereum, SOTA platform is running on Binance Smart Chain which is much lower costs and faster for creators and collectors to create and trade NFTs.
Healthy competition is good. On the other hand, we believe that the NFT market is still at beginning stage and there is room for several platforms to grow. We are open for cooperation to raise to overall NFT market.
Danny | Crypto Revolution: What Marketing plans you guys have for the upcoming weeks?
Nguyen Thao | SOTA: We have just announce our SOTA Ambassador — Affiliate program for local influencers. This will help to grow SOTA local communities in different areas.
Please apply at at https://forms.gle/tvaKfbyYUZYPrdcc7
Danny | Crypto Revolution: ??
Btw Suggestion from one of your Community Members guys. He just PMed me ?? “Just tell them to activate their youtube channel and educate people about NFTs”
Any plans here? ??
Nguyen Thao | SOTA: Thank you this is a great idea.
Danny | Crypto Revolution:
Btw people love the AMA already ??
Nguyen Thao | SOTA: Thank you!
QUIZ PART
Question: What do you earn by staking $SOTA on the SOTA platform?
Answer: Limited NFT
Question: How much fees does SOTA charge users for creating an NFT?
Answer: Zero fees
Question: Which one is closest to the current cost to create an NFT on SOTA Platform: a)1 USD, b)10 USD, c) 50 USD
Answer: A/1 USD
TELEGRAM QUESTIONS
Telegram User:
What other wallets can be compatible and support token $SOTA?
Tuan Le | SOTA: Any wallet that support token ERC20 will support token $SOTA. You can add $SOTA to most of current wallet (meta mask, trust wallet…)
Telegram User:
In order to be able to call it community driven? Which members of the community can participate in the decision making?
Nguyen Thao | SOTA: We consider feedback and comments from community for our further developments. When it comes to decision making, it will be voted by SOTA token holders.
Telegram User:
Are developers still building on your project? It seems there was a Request fund set up a while back and a few apps were built, is there still any interest or new dApps being built on your project?
Tuan Le | SOTA: Our team about more than 20 developers still continue to develop. You see there are many features we want to add to our platform.
Telegram User:
So far, what major achievements has Your Project achieved? What difficulties and risks did you encounter in the process of project implementation, and what factors prompted you to overcome the difficulties?
Nguyen Thao | SOTA: We launched our platform and number of users are growing fast. Our SOTA token attracted 12x pledges at the pre-sale and is doing well. These are the major achievement so far. We believe in the long-term potential of NFT market and are working hard to bring it to mass users.
Danny | Crypto Revolution: Yeap. So far great Achievements from SOTA Team ??
Telegram User:
Will you also focus more on Asian market as it arbors a very strong based for crypto currency projects ?
Nguyen Thao | SOTA: We target the global market, not only Asian market.
Telegram User:
Token burn is important for investors, do you have any plan burn or buy pack?
Nguyen Thao | SOTA: A portion of platform revenues will be used to reward token holders. Reward method may include token burn or buy back, depending on the market and business situation.
CONCLUSION
Danny | Crypto Revolution: Thank you for your Valuable time Thao and Tuan! Any Final Words for Community?
Nguyen Thao | SOTA: Thank you very much for having us today.
Sorry that we could not answer all the questions.
Tuan Le | SOTA: Thank you very much!
Nguyen Thao | SOTA: For more information about SOTA, please follow us at:
Website: https://sota.finance/
Landing Page: https://landing.sota.finance/
Telegram group: https://t.me/sotaNFTer
Telegram channel: https://t.me/sotaen
Twitter: https://twitter.com/sotaNFTs
Medium Blog: https://medium.com/@sota01
Facebook: https://www.facebook.com/sota.finance
CRYPTO REVOLUTION SOCIAL MEDIAS:
- Telegram group — http://t.me/crypto_revolution1
A/ Telegram Announcement Channel — https://t.me/cryptorevolution11
B/ Telegram News Channel — https://t.me/crypto_revolutionnews
2. Twitter — https://twitter.com/revolut20
3. Medium — https://medium.com/@cryptorevolution
4. Uptrennd — https://www.uptrennd.com/user/MTQ0ODA2
5. Facebook — https://www.facebook.com/CryptoRevolution1
6. PUBLISH0X — https://www.publish0x.com/@Danail-Stefanov
7. Discord — https://discord.gg/GNTTm6zf2s
8. Linkedin — https://www.linkedin.com/in/crypto-revolution-73ba111a0/
9. Reddit — https://www.reddit.com/user/CryptoRevolution11
10. Bitclout — https://bitclout.com/u/Crypto_Revolution?tab=creator-coin
Website: https://crypto-revolution.io/
OUR PARTNER:
Website: https://sota.finance/
Landing Page: https://landing.sota.finance/
Telegram group: https://t.me/sotaNFTer
Telegram channel: https://t.me/sotaen
Twitter: https://twitter.com/sotaNFTs
Medium Blog: https://medium.com/@sota01
Facebook: https://www.facebook.com/sota.finance
