The original AMA was held with A&Q Community on 4/1/2021 at https://t.me/AQCommunityChatRoom.

A&Q Communtiy Hosts: Robert Smith and Faizal K.
NetVRk, Chief Administrative Officer: Jonathan Wernick

The full AMA recap is below:

First segment : Introduce

• Questions :

Can you Introduce yourself @OneBonk To our community?

Jonathan :

Hi I’m Jonathan Wernick. I’m the Chief Administrative Officer for NetVRk. I’ve been active in crypto since 2017. My professional Background is I’m a Chartered Accountant that also has a legal background. I’ve been a involved in the project since Q3 2018, primarily as an investor and later joined the core team.

Our team is comprised of Michael Katseli, our CEO. His background is in engineering and game and tech development. Our COO Linus Chee, has a background in graphics and game design, and is a gifted artist. Our CMO Daniel Kennedy, has a background in marketing and real estate.

You can view our entire team at https://netvrk.co

Our team consists of over 10 people at the moment, with varying areas of expertise.

Second segment : Questions from AMA hosts

• Questions 1 :

Could you explain a little about NetVRk and what Is make it different From another Project?

Jonathan :

NetVRk is a social VR platform with powerful creation tools to easily create, share experience and monetize VR.

For me, NetVRk’s major advantage is the approach. NetVRk’s primary focus has been building the User Experience. We are incredibly close to releasing an MVP. The Dev’s have a very high standard so its not a normal MVP.

To give a taste, please do watch this video https://www.youtube.com/watch?v=riubQ5vTO7c .

It gives a better feel what’s being done than any words I write. This video is actually from November and we have progressed a lot.

This question wouldn’t be complete without some competitor analysis.

The part that excites me the most is the B2B aspect. The wider user base that comes with B2B and education. Opening up a much wider user base.

Take the education concept. Universities have been shutdown. Some courses are de factor distance learning. By engaging universities we can bring in users through the courses. Then, once those users have engaged with the platform, they stay for the socials.

• Questions 2 :

Could you please provide some info about your Roadmap and how NetVRk is progressing so far?

Jonathan :

ofc, please see our roadmap from our whitepaper

This is the high level road map, it really shows just how far we have come. This project started off in 2016 and has been building since. This ties back to the user experience first approach mentioned above.

The immediate Road map is concerned with Token Launch, NFT based Land Sale, MVP (minimum viable product) release. Then there will be bringing in Art based object NFTs. Later we will see useable objects as well as Avatars. There is so much scope. After that will be pushing all the elements of the platform through to finished/ feature level.

• Questions 3 :

Are there other functions of $ntvrk apart from Trading?

Jonathan :

Trading is very much a by-product of having a token rather than a function.

The NTVRK token will have several functions
Principal function is an in-game currency. That means included in:
• Buying Land
• Buying Assets
o From NetVRk
o From Third Parties

• Staking
• Involved in the generation of NFTs

This is not an exhaustive list. The platform and therefore the token will develop and progress with time. Likewise the utility needed from the token will also develop and progress with the platform and users.

• Questions 4 :

What are the present and future goals of NetVRk?

Jonathan :

Present goals will be meeting those roadmap targets and more immediate targets from Q2. Land Sale, token TGE. Its the MVP that excites me though.

Medium term goals is utilise the current funding to take the product from MVP through to Feature Level. This is where Mike and Linus’ dream really takes shape.

In terms of long terms goal. Long term goal is to be the number 1 VR social platform. For this, the single most important factor is userbase. That is why user experience is at the core of our project. We believe focusing on multiple users from different demographics will help give us a major edge.

• Questions 5 :

How do you keep the ecosystem going in your project? and what are your plans for future innovations?

Jonathan :

Well we are very lucky in regards to our timing regarding VR. We don’t have ongoing ecosystem costs.

I’d say the most important thing with a new area of tech is you need a burgeoning market. You come too early you’re funding runs out of steam. You come too late and communities are elsewhere. Now is perfect imo. The pandemic has had a horrible effect on so many. However, we have seen a major shift to digital communication, e.g. zoom, teams, house party, google meet. The 2D interaction through single portal, point of interface is very dissatisfactory for socials especially when you compare it to immersive VR. For example at a party you don’t want to talk to everyone at once. At a business meeting you may want a side bar with one person. Simply VR allows those critical soft elements whilst 2D doesn’t.

This is the reason I’ve pushed to become more involved in the project

regarding crypto ecosystem. The NTVRK token is core to the platform, its the key ‘working capital’ within the system for all the users with scope to improve and expand the token’s utility with the platform.

Third segment : Questions From Twitter

• Questions 1 :

From @Fadilatun17

I hear NetVRk can be used to buy advertising space, well how does it work? Will we as $NetVRk holders benefit from the purchase of advertising space?

Jonathan :

Thanks for the question. Yes, the plan is for people to be able to buy advertising space using NTVRK tokens. The critical thing with game-based advertising is for it not to interfere with the game play, not in your face where you need to actively ‘click’ round it. The core concept is billboards where people can own and lease those billboards. One concept that excites me is more subtle like graffiti.

There are currently no plans for token holders to get passive income from advertising revenue by simply holding the token or from others purchasing advertising space.

There will be lots of ways to earn through NetVRk though.

• Questions 2 :

From @naurakasihan

What are the solutions and advantages of the VR Platform? How do we contribute to the VR App Store?

Jonathan :

Regarding the solutions and advantages, it depends on the context of what you are comparing it to.

Compared to 2D digital socials, VR is immersive and offers an additional dimension making that interaction a richer experience.

Compared to other VR platforms. I think its our focus on user experience and our timing to market is perfect.

Again the intro video really gives a flavour of what we are offering compared to other VR https://www.youtube.com/watch?v=riubQ5vTO7c

Re: the VR app store. You will be able to build dapp and mini games and then list these in the VR app store. You will be able to sell access to these minigames either via purchased or with the inclusion of advertising like standard app stores.

We envisage a lot of similarities to existing app stores except it will have a location in a VR world.

• Questions 3 :

From @Ardhi05775405

What is the connection between VR and Crypto? How does this work and what is the function of your project in Crypto currency development?

Jonathan :

Crypto is incredibly important for the NetVRk concept. We will use NFTs and standard tokens so people can own their VR assets, not NetVRk but the user like they do in real life.

So land, Avatars, useable objects, art and of course your token balance. You can own all these things in this VR world, you are in control of your avatar and thereby projected self.

Regarding Crypto Development I’d say, we are more utilizers of advances in crypto.

One area where we are at the forefront is land.

Land is a hugely exciting area right now, with NFT land’s making it into mainstream media and a very buoyant market. People understand land, ‘I own this patch’ and its mine and it has value. The easier concepts translate to real life the more accessible the market to a wider audience.

• Questions 4 :

From @B35839173

NetVRk is proud to announce our partnership with Playcent, My question is, why did you choose Playcent as your partner to play Playcent Dapps and Games in the virtual world of NetVRk? And what benefits will NetVRK get with this partnership?

Jonathan :

Playcent is a natural partner for NetVRk. Games are a major use case and NetVRk is a platform on which people will be able to develop their own mini games. Playcent has the scope to bring in additional socials, enhancing each others (Nervrk & playcent) user experience.

It would be great to see playcent’s games on NetVRk’s platform in the future.

This is a particular point to highlight from the medium article

‘Playcent will be a featured addition to the NetVRk virtual world, with the Playcent Arcade being a hot spot for users to browse and engage an ever expanding platform of game titles from the Playcent lineup.’

https://netvrk.medium.com/netvrk-partners-with-playcent-d3835d6a1c20

• Questions 5 :

From @ZamoraJoana

NetVRk works with NFTs without problems, but I just realized that apart of them you also have your Native token called “NTVRk”, so can you explain us what are the usage of these tokens? Why do we need the NTVRk token?

Jonathan :

A lot covered in the answer linked.

https://t.me/AQCommunityChatRoom/241238

But an interesting aspect is ‘need’. For many users they won’t be experienced in crypto. They might think the token is a simple medium of exchange used by others on the platform. If they paid on card for example it might be converted into NTVRK, subsequently being received by the merchant without them even realising they needed it.

fourth segment : Questions From member

• Questions 1 :

From @CzAriiF

How does NetVRk plan to create an inclusive space for everyone in the creative world of gaming?

If NetVRk creates creative virtual space, What will NetVRk do to keep the space open for everyone, regardless of race, sexual orientation, religion, etc. So that everyone can transform creatively?

Jonathan :

a very good question. VR should be an open space inclusive for everyone. Its worth noting with VR you can project whatever avatar you want.

• Questions 2 :

From @prince_opu

Your project has great features. There must be an experienced team behind. Can you tell some about your team and their experiences in the market?

Jonathan :

The origin of the project actually has its routes in VR real estate tool. The team have had land and builder concept at the core from the very start.

• Questions 3 :

From @hangamak

How do you plan to increase the demand and scarcity of the Token? Do you have token burn or buy-back plan?

Jonathan :

This is an ongoing question. Driving scarcity is a complex question and needs to be got right. A good way would be removing NetVRk as a portion of any on platform transactional charge. Rest assured we do have a crypto background and the importance is understood.

• Questions 4 :

From @banhmikhong

Only getting investors and holders is not enough. A project needs to solve a real world issue or a real world problem. What plans do you have plans with them?

Jonathan :

💯 our whitepaper sets out many of these

https://whitepaper.netvrk.co/

• Questions 5 :

From @sakibahamed59

Do you have a strategy to reach big offline commerce industries? Considering that even with the exponential growth of e-commerce most of the transactions worldwide involve those industries. Are you already partnering with one?

Jonathan :

Definitely, B2B is a key area. Our partnership with VVT (versoview) is just the start.

About Netvrk

Netvrk is an immersive metaverse that empowers users with robust creation tools and a versatile infrastructure, enabling them to seamlessly craft, share, engage with, and monetize their digital masterpieces. Anchored in the realms of gaming, education, and virtual workplaces, Netvrk fosters a vibrant ecosystem centered on the ownership and exchange of virtual land and assets.

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