We would like to thank MrBusinessTG of SPECTRE GRP | CHAT for holding such an inspiring AMA session with us. Here are the highlights of the AMA just in case you missed it.
Mr.Business: We welcome Nikita Nguyen from NFTIFY!!! Thanks for being here! Before we start, can you please tell us about your background?
Nikita Ngan Nguyen: Hi everyone!!! Thank you for having me here today. My name is Nikita Ngan Nguyen. I was born and raised in the suburb of Hanoi, Vietnam. After college, thanks to my Japanese language skills, I landed a job in Tokyo, my dreamland. That was with a non-governmental organization, where I had the chance to interpret for all the top Vietnamese politicians who visited Japan for labor collaboration. I stayed with them for over a year until I decided to switch to the largest Vietnamese IT company in Japan, for a younger and more dynamic environment. Ever since I’ve spent over the last 12 years in the IT industry.
Mr.Business: IT nerd like me 🤓
Nikita Ngan Nguyen: Haha. I was in charge of business development for their Japan and US branches until we founded Ekoios, our Blockchain development house in Vietnam in 2015. At Ekoios, we get to engage and provide business & tech consulting, development services to hundreds of Blockchain startups all over the world.
That definitely gives us a general picture of the Blockchain ecosystem, and helps us come up with the idea of creating NFTify, a platform that we’re confident will become very impactful that is lacking out there. And here I am! :) Wow, I just spoke my resume out didn’t I LOL.
Mr.Business: What is NFTIFY?
Nikita Ngan Nguyen: Well, first of all, NFTify is a platform where people can create an NFT store without coding.
Anyone can start a store, tokenize & sell NFTs right away instead of spending months and hundreds of thousands of USD to develop something like Opensea, Niftygateway…. This is actually the problem that we wanted to tackle when Ekoios got so many requests to develop NFT marketplaces over the last 1 year. With NFTify, we will be able to lower the bar for everyone to join the NFT space.
Let me give you an example: So let’s say you are an artist. You want to create your own brand, your own store, but you don’t have the money and time to build your own platform. You also don’t want to sell your arts on some messy NFT marketplaces out there, then NFTify is the perfect solution for you.
That’s not everything, of course. The platform will also provide built-in AI services for copyright protection purposes, which is probably what people are concerned about the most when it comes to digital content.
Mr.Business: So NFTIFY is at the top of the NFT pyramid. You guys are basically a one-stop-shop for all your NFT needs.
Nikita Ngan Nguyen: Yes, with these 2 basic features, we provide the top layer for artists and small businesses to create their own brand. Then we will create a secondary marketplace for people to trade NFT without having to go to another marketplace. Other Defi features are also in our roadmap.
You can also check out our whitepaper which is available on the website https://nftify.network/ for more details.
JohnnyZ: So you kind of went into some of this but why would NFTIFY be different from other NFT Projects
Nikita Ngan Nguyen: We have our own great AI team with a proven engine that has been deployed in many healthcare and transportation, asset management systems. Check out our AI team! NFTify is the only platform to allow people to create an NFT store without coding and customizing it to make it their own brand. We are also the only platform to provide Copyright protection.
We build NFTify on the substrate and will provide a bridge to exchange NFT on parachains or external chains such as ETH, BSC. That means the digital asset will have a larger ecosystem to interchange and trade.
Mr.Business: Why build on Substrate?
Nikita Ngan Nguyen: Great question and thank you for addressing that again! NFTify is a solution built on Polkafoundry, a substrate on Polkadot. This will give us:
- Better performance: Polkafoundry enables NFTify to process from 100 thousand up to 1 million transactions per second.
- Low network fees: Everyone is already aware of the ETH gas fees increasing day by day. Polkafoundry offers a much lower cost for executing transactions, offering higher profit to all stakeholders.
- Cross-chain interoperability: Different from other blockchain designs, Polkadot introduces relay chain and parachains structure to allow communication among substrates on the Polkadot ecosystem to happen in an efficient and secure way. Therefore, it also allows transactions of assets on NFTify across different chains to happen in a seamless and secure way.
JohnnyZ: Talk to us about the utility of the token.
Nikita Ngan Nguyen: Sure, JohnnyZ.
Users will use our token, which is N1, to set up a store, purchase plugins and customize the store, etc.,
N1 will also be used to buy and sell NFT on NFTify.
We will have reward & promotion events too.
And the last thing, N1 will be used for the platform governance, which is very important to keep it fair and safe for all our users.
JohnnyZ: So the cash tag will be $N1?
Nikita Ngan Nguyen: N1 is the token symbol. But we use cash tag $NFTify which is the platform’s name.
Mr.Business: let's talk more about Polkafoundry. What is your relationship to it?
Nikita Ngan Nguyen: Well, on a personal level, I and my CTO, Dylan have known Thi, the founder of Pokafoundry for over a decade, since we all worked together at FPT. This time we build NFTify on Polkafoundry with the trust and confidence of a decade-long friendship.
JohnnyZ: When is your TGE and what platforms will you launch on?
We are confirmed to launch on Ignition and Redkite. The date is TBD, but very soon!
Please be sure to follow our Telegram and Twitter for official announcements.
Mr.Business: So many projects now lose steam post TGE. What do you have planned so people say interested after your token sale?
Nikita Ngan Nguyen: We’re very fortunate to have a well-rounded and experienced team of both technical and business people.
On the development side, we’re backed by Ekoios with a team of over 120 Blockchain & AI engineers. On the strategy and network aspect, we are backed by many of the top Tier1 VCs and well-known advisors such as Thi from Polkafoundry, Kyle from Master Ventures, Garlam from M6, Dr. Deeban from GD10. etc., They will make sure we have all the connections, strategies we need to succeed.
Lots of exciting discussions to build the ecosystem and partnerships are already going on before the launch of the platform. You should expect some major announcements soon.
And the bottom line is, we believe in the mission of NFTify to be the captain NFT, to lower the barrier for everyone to join the NFT space.
What was the biggest hurdle you saw in the development of the project and how do you see positioning your project in the NFT space?
Nikita Ngan Nguyen: Fortunately, our development team has all the experience needed from defining specifications, business architecture and flow to development management, etc., So I think a major pressure is a time. BA, Design, and Dev teams have to collaborate in real-time all the time to make sure everyone is on the same page. And we want to have our Beta version out as planned.
Hi NFTify Team! I saw you have awesome partners currently, all kinds of partners. Any new ones coming up? Which of your current partners bring NFTify the most benefits, why? Also, a great aspect to think at is, what do you wish from your future partners?
Really great question. Yes, we’ve had tech, business, marketing, funding partners. All are the top Tier1 and every partner has their own value proposition.
Next step we are going to focus on building partners for the ecosystems, to bring in the first users to the platform.
We already secured a great partnership that will bring in some of the best artists. I’m sure everybody will recognize the name when the announcement is out. I am also meeting with a great artist agency in Hollywood after this AMA.
We are looking for utility applications to create more ways of use for NFTs owners. The next partners should contribute to building an exciting NFT economy.
Mr.Business: @NikitaNguyen thank you for your 90 minutes!!! We will end the AMA now so as to not keep you from other duties 😄
Nikita Ngan Nguyen: Thank you @MrBusinessTG and your community for all the great questions.
Go ahead & open your NFT stores via: https://nftify.network/