The original AMA was held with Forum Crypto Moonlight (FCM) on 4/9/2021 at https://t.me/FCMchat.
FCM Host: Joel Natanael
NetVRk, Chief Administrative Officer: Jonathan Wernick
The full AMA recap is below:
Joel Natanael : Hello everyone welcome back again to AMA series FCM. This time we have a special guest, namely Mr. Jonathan Wernick as Chief Administrative Officer at NetVRk
Okay, I’ll explain a little bit about how the AMA will works today
There are 3 segment in this AMA
Segment 1: Project Introduction
Segment 2: Question from Twitter
Segment 3: Free Asking
SESSION PROJECT INTRODUCTION
Joel Natanael Q1. Can you explain to us a little about your background before entering the cryptocurrency world and why did you finally decide to become a part of NetVRk?
Jonathan : Good question.
I’ll start with my generic intro to myself and team
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 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 is 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.
Myself, I got into crypto in time for the last bull run, October 2017, like most around there and still in the game I got a chunk and lost a chunk.
My story with NetVRk is I was an early seed investor in 2018 and have been supporting the team as more of an advisory role, as my crypto experience and connections has increased my involvement has increased. Now I am part of the core team. With my background a key area I contribute is modelling.
VR and crypto has always made sense to me. In a large ecosystem like VR world with broad range of actors and use cases world then there is a need for a non-fiat denominational medium of exchange. For traditional games this might be a centralized token but crypto is superior as the user can properly own and control their in-game wealth.
I have stepped up my involvement as sentiment and opportunity returned to crypto. What really excites me about crypto right now is the explosion of NFTs, DeFi tools tike dexs, NFT exchanges, crypto merchant gateways like depay, split. You don’t have to design all those elements from scratch, greatly reducing those barriers to implementation. Furthermore, you have some many more opportunities for token utility, from staking for token rewards, but there’s a lot more you can do with staking. E.g. mooting whether you stake NTVRK tokens to mint your NFT’s into the NetVRk metaverse.
On NFTs in particular it has greatly increased what people can own from just token wealth. So the obvious one is land. A major focus for us right now is preparing for a land sale. Not just land though; you can NFT avatars, clothing, art, useable objects, ensuring things unique/ rare but also can be owned and controlled by the individual. All this means you can own ‘you’ in the VR world, its an incredibly exciting concept.
Joel Natanael Q2. Can you explain to us what are the things that inspired you and your team to create a project called NetVRk?
Jonathan : The concept originated with VR real estate tool with Mike and Linus’s gaming and graphics backgrounds the VR concept was a natural progression. The focus on land and building has really tied in very nicely with some of the key crypto trends and tech right now. But also VR, VR building is big right now.
Mike and Linus are incredibly creative people. You should see the difference in scope between my regimented ‘square city’ that I used to figure out how land parcels would fit together compared to the thing of beauty that they have mocked up. Its really astounding. Blow you socks off compared to existing approaches.
Mike has an formidable vision about the VR world he wants to create. The breadth in uses and users, the ease in building VR landscapes for ordinary users. The spec of the visual environment that users will be able to engage with.
Please, please, please, everyone if you do one thing, look at the intro video, this was from November, we have come a long way
Joel Natanael : Q3. I see a trailer on your site that this project looks like The Sandbox where user can create their own land with their imagination. So what’s the difference between NetVRk and other similar project, for example The Sandbox?
Jonathan : Yeah, that’s the video I refer to.
You might see similarities. However the NetVRk project has always been user experience first; the tools and the immersion are next level.
Right now we are looking to get our MVP completed, a matter of weeks rather than months. That should really demonstrate the potential of our project compared to the competition.
I’ll put it another way. Have a look at the road map. We have been building since 2016.
In fact we have a little info graphics comparing user experience.
Another major difference is our B2B and what I like to call ‘cross-community’
Regarding the Cross-Community, we have these broad areas:
– Crypto
– Gaming
– Socials
– Education and
– Enterprise
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 those users have engaged with the platform, staying for the socials.
Critical to any VR project will be building user base, by having multiple approaches we greatly increase the speed at which this can be built.
And those users are more likely to be ‘sticky’ as there are additional reasons to keep on using it.
Joel Natanael : Q4. NetVRk seem interesting for me because this token can be used to buy advertising space and generates NFT.
A. Can you explain to us what advertising space is? What are the benefits for the users?
B. How the NetVRk token can be used to generate NFT?
Jonathan : So advertising concept would be non invasive, nothing puts users off more than having to click around adverts. The core concept would be people can own advertising spaces such as graffiti or billboard or the outside of the property you own. Those spaces would have paid for advertisements and the owners would generate an passive income from that.
With all things its an organics process we may have other concepts developed later.
There will also be many other ways to generate income within the ecosystem. whether its merchant of in game assets, building for others.
They will need to be rewards for using the platform as well as its a social platform bring activity should be rewarded.
We have yet to announce details on NFT generation so limited I can say here. The obvious way would be to say stake tokens, pay with tokens or burn tokens when bringing in NFTs, something like that. It’s a balance between access to NFTs and user experience and utility of the NTVRK token. These are concepts in my head, nothing official. It wouldn’t be my final say but I want to give a flavour.
Joel Natanael : Q5. Augmented reality and virtual reality users today are certainly not as many as smartphone users. So what are NetVRk’s steps to reach more users to use your platform? Is there an update in the future so that computer and smartphone users can also experience playing on the NetVRk?
Jonathan : Currently the platform is set to work with VR headset or via PC so it will be accessible to most.
Access via console would be next step.
What really excites me is the Google cardboard concept. phone are constantly getting better and better. I can envisage a day where something like this becomes reality.
essentially, yes VR will give best experience but the platform is highly accessible.
That’s just me being geeky btw, I haven’t asked how far off something like that would be for NetVRk.
great questions btw, really on point
SESSION TWITTER QUESTION
Joel Natanael: Q1. From @Obung98 What is the main vision that your project wants to achieve in the cryptocurrency market? Obviously the entire space is going to experience huge growth in the coming years, but what role do you want your project to play in this?
Jonathan : Its an incredibly exciting time in crypto and functionality has exploded.
What we want to achieve is to use all of it. we want to be a use case for novel and innovative things.
I touched upon it earlier, you have dex, merchant gateways, social tokens, NFT marketplaces. we want to see all of it useable within NetVRK.
We are VR using crypto rather than crypto using VR.
Joel Natanael : Q2. From @Jonising_x Wat strategy will you implement to bring non-crypto-natives into your ecosystem? How do you keep a balance between developing the technology and also improving the value of your token?
Jonathan : Headline is, we get the MVP and then we start showing it off to users
Looking in a bit more detail, the overarching vision is the cross — community concept.
Regarding socials and gaming, we have linked up with pure VR groups, albeit nothing announced yet.
Regarding Enterprise and Education we have a partnership with Versoview, a Rewards and engagement platform — Versoview will enhance socials across gaming, education and enterprise.
Furthermore we are working with Playcent. Playcent is a Decentralized WIX for creating and remixing dApps — a key element within NetVRk is gaming and in particular mini-games and dapps which people will be able to list on our in world dapp centre.
Joel Natanael : Q3. From @Tasfiya43
1. Token price
2. Make Token Valuable
3. Building Community Trust
From 3 aspects above,. I want to ask. Which one the most important for you?? If all above are important for you. Which one that Will you do first??
Jonathan : community and Userbase are the single most important thing next to user experience. That’s not to say token price etc aren’t important, but they are important by virtue of the community impact.
In terms of utility there are many uses, staking, land purchase, in game currency. the in game currency is huge as this will be a market place open to third parties. via NFTs, VR dapps, mini games etc.
As NetVRk develops so will the token tokens utility, that’s the great thing about an in game crypto token and the scope of VR.
Re value, we have experienced crypto people in the core team and we have hugely experience Ferrum team advising us, with an amazing success rate in terms of token launch. We do get token utility and token value
Joel Natanael : Q4. From @Plevnes Which area are you focusing on at the moment? (DeFi, Stake,Dapps..) and what is your goals in this year ?In how many ways or what are the ways your project generate revenue? What is the revenue model? How it can be beneficial for both investors and for project itself?
Jonathan : doesn’t quite apply, as we are utilizing crypto tech.
Right now we are going through token launch and NFT Land sale. this is to generate funds to take the MVP through to the Feature level/ finished version open the current set of priority in game functions.
Revenue will be generated through in game purchases e.g. ‘hurry ups’, in game transactional fees, B2B services such as training or meeting environments.
In terms of investors working capital will drive demand for NTVRK tokens but there are other things for example many projects have a burn on a portion of transactional fees making the coin deflationary. This is an example concept, not a specific plan.
Joel Natanael : Q5. From @AbMahmudddDeFi, Staking and Yield Farming are hot topics right now in our Crypto Space, My question is, did you make this project only for the short term because of these hot topics? Do you have a long term plan for this project?
Jonathan : we aren’t a defi, staking, yield project, so a simple no on that one.
yes we plan to use Ferrum’s staking mechanism as staking is an important make up of initial utility
SESSION FREE ASKING
Naxmi : NetVRk is out on the market now with the most advanced VR creation tools. can you explain in detail about this unique feature?
Jonathan : Good to clarify this. NetVRk, is not out on the market quite yet, however we are set to release our Minimum Viable Product very soon. and then people can gauge for themselves if its the most advance.
MIO : Given that games are a key element for NetVRk, I wonder, what impact can NetVRk have on gamers and users?
Jonathan : Its three elements in VR. its a new way of playing games, there is the opportunity to build VR games and monetize them and then there is the social aspect to not just play but the social aspect of comparing discussing and building a community around them in the VR space. I lot more engaging environment compared to text etc.
No luck : Token burning is the best way in order to control token emissions and price. Do you support token burning?
Jonathan : Token burning is ok, its a bit 2017. There are a lot better ways of building narrative, generating utility and developing a token
Moonlight : During the 2020 I got scammed a few times, rugs, exit scams etc. — how can we investors be sure that this will not be similar, are your contracts public & somewhere to be seen?
Jonathan : I think we’ve all be rugged at least a couple of times.
The key thing to avoid scams is a real demonstrable product and a dox’d team.
Out leadership team is dox’d and you can see we have product just look at the intro video
Krystal Rippin : I still haven’t found a market exchange that trades NTVRK token, or NTVRK token sale, how do we get NTVRK token / coin?
Jonathan : Good question, its not currently listed. NTVRK is currently undergoing Presale via Ferrum, snapshot was taken on Sunday. Next will be a Launchpad IDO e.g. Poolz. Then we will list on Uniswap. This should all happen in fairly quick succession.
VR is a burgeoning market. The critical thing is timing. Too early and you run out of steam. Too late and the communities are elsewhere. In the last year we have seen digital communications come to the fore, teams, zoom etc. VR is next gen, and we are seeing it just getting started. now is the perfect time to launch a VR project…. just saying. thanks guys
About Forum Crypto Moonlight
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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