Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Clout.art and our guest was @jurez. The AMA took place on 24 September
The AMA session was divided into 3 parts with a total crypto reward pool of 500$
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1 — introduction and questions from the Telegram community
Mary | Satoshi Club: Hello Satoshi Club! We are happy to announce our AMA session with Clout.art! Welcome to Satoshi Club😀
Paul Mont | Satoshi Club: Today’s guest is @jurez! Welcome! Great to have you here!
Jure Z ⛓🚀: Hey, thanks Paul, nice to be here! 👋
Mary | Satoshi Club: Welcome here, Jure! How are you today 😊
Jure Z ⛓🚀: Good, good excited to share more about our project 🙂
Mary | Satoshi Club: Hello, Veronica 👋
That’s great! Let’s start our AMA 🚀
Paul Mont | Satoshi Club: Let’s go @jurez, please introduce yourself and tell us more about Clout Art
Tell us about your background and also the core principles and foundations about the Clout Art project 😉
Jure Z ⛓🚀: So I’ve been in the NFT space from the very early day. I co-founded a company back in 2018 that built the first NFT protocol for NFT validation and authenticity
We also worked directly with the lead author of ERC-721 standard and helped him push that from an EIP to a confirmed ERC
Last 2 years, I was a part of couple ventures around NFTs, but you wouldn’t believe that 2019 no one would invest in an NFT business
Paul Mont | Satoshi Club: That puts you in the league with the early pioneers of the NFT industry 🙂
Jure Z ⛓🚀: That’s true 🙂
I basically know all the guys from the early days… some have really taken off!
Paul Mont | Satoshi Club: As I like to say that is a great business card for an introduction 🔥🔝
Jure Z ⛓🚀: Continuing here… so 2y ago no one would believe you could sell a jpeg for $500 lol
Well now, here we are… Clout.art started in my head a year ago around this idea that ALL THE CONTENT ALREADY EXISTS we just don’t have the right toolset to monetise it
Starting with Instagram, as social media is the content we consum the most, we built a product to do just that
Take valuable content from legacy web 2.0 social platforms and turn it into NFTs — web 3.0
But what Clout.art, as a product does is simple: It takes existing, legacy content and turns it into a liquid asset by making it an NFT
Mary | Satoshi Club: Jpeg😂 i heard some people don’t like this name😂😂😂😂
Paul Mont | Satoshi Club: I feel this is a simple, yet potentially paradigm-changing amazing epiphany. So true indeed 😄
Mary | Satoshi Club: Who are in your team?
You will work only with NFTs? 😀 Any other products?
Jure Z ⛓🚀: NFTs are special because they’re the content layer of the decentralised web (or web 3.0)
when you have that you can do the actual value exchnage without having to involve a middle man or a tech platform
Mary | Satoshi Club: That’s true😀
Jure Z ⛓🚀: I think the real value of NFTs is just surfacing… there’s so much more utility than just collectibles and avatars
but on the platform side, here’s the important part
we are not building a social media platform 😄
a lot of projects are trying to do a social media platform that use NFTs
Mary | Satoshi Club: I know some😀
Jure Z ⛓🚀: speaking to 10+ founders who have tried (and most failed) building social media networks in the past, the learning is: it’s one of the hardest things EVER to build a functional social network
user need a really good reason to abandon what they have and move to something new
so the question is… will they abandon the communities that they’ve build over the last 10y and switch to something novel, just because… it has NFTs? 😄
Probably no.
We’re a monetisation layer that sits on top of Instagram, and later TikTok, YouTube, Twitter.
Mary | Satoshi Club: Yes, i saw a lot of projects trying to build social network on blockchain, but… I can’t see anyone that succeed
Jure Z ⛓🚀: We want our users to use and leverage these communities, and after the engagement is drained, just turn it into an NFT and make money off it
And the more engagement you get initially, the higher score and consequently price you could have
Mary | Satoshi Club: Brilliant idea💎
Jure Z ⛓🚀: Thanks 🙂
Paul Mont | Satoshi Club: I can see how the possibilities are just endless, what Web 2.0 has already is a gold mine for users and on the enterprise side 🔥
Jure Z ⛓🚀: Indeed… and I think despite the space evolving so fast, we’re trying to jump ahead, when real adoption takes time
TikTok is the latest big player on the scene — they knew VERY WELL that they have to integrate connectivity to IG, Messenger, YT, Snap… so instead of shuting those channels out, they’re leveraging them to get new users
Mary | Satoshi Club: Blue ocean strategy?)
Jure Z ⛓🚀: and imo, that’s the right way to do it nowadays
Paul Mont | Satoshi Club: Also leveraging on the rooted communities of the actual dominant social platforms is a paving-way strategy for taking care of the mass adoption issue – I gotta agree, it’s truly brilliant 😁
Paul Mont | Satoshi Club: As @madamlobster asked you earlier, how many core members are actually working on the development of Clout Art?
Jure Z ⛓🚀: Oh right, I almost answered that 🙂
Our Slack is growing on a daily basis, the total number of people involved with the project is not 30+, the core team however is the product and marketing — that’s 11 people that are doing their best to get this out there
Ofcourse after the recent raise, we want to hire more
Mary | Satoshi Club: Quite big team 👍
Paul Mont | Satoshi Club: And I can see that they’re all public on the website – you definitely have my praise. We, at Satoshi Club, love the transparency 😉
Mary | Satoshi Club: Congratulations, you got excellent investors!
Jure Z ⛓🚀: I honestly don’t get anonymous projects, lol
Mary | Satoshi Club: Lol, there are thousands around😀
Jure Z ⛓🚀: Put your money and reputation where your mouth is, right? 😄
Mary | Satoshi Club: Golden words!
Paul Mont | Satoshi Club: Ok @jurez, thank you very much for the stunning, in-depth intro 🔥
Jure Z ⛓🚀: Happy to 🙂
Paul Mont | Satoshi Club: We’ve selected some questions from the community, which we’d love you to answer in order to get to know more about Art Clout!
Mary | Satoshi Club: Jure, thank you for your intro! After it i am even more excited to see your answers 😀
Jure Z ⛓🚀: Sure, let’s do it
Paul Mont | Satoshi Club: Haha ditto! 🙌🔥🔝
Q1 from Telegram user @splend6ty
I read that cloud.art can possibly turn my most valuable content such as most successful Instagram post into NFTs.
How does Clout.art turns people’s most valuable content, such as most successful Instagram posts, into unique NFTs?
How will my content become part of a valuable collection of assets and a source of income?
What do I need to do as a cloud.art user to achieve this amazing opportunity?
Jure Z ⛓🚀: Yes, this is true. Clout.art started with Instagram, but eventually any content (or social media content) will be available for minting as an NFT
We have a secret — we figured out how to do the minting bit in a way where most value is perserved
Mary | Satoshi Club: So, how?😀
Jure Z ⛓🚀: So we look at not only the picture, if you want to mint a picture just use OpenSea 😄
We have developed a proprietary algorithm that takes into account everything around the post
Likes, comments, sentiment, followers, different ratios… even time component! The older the post, the more valuable it is.
And when we mint, we make sure all of that gets recorded and stored on-chain.
We are obsessed with value transfer from web2 —> web3
Mary | Satoshi Club: Can you show us how this NFT can look like?😀
Jure Z ⛓🚀: And we figured out that, in order to keep the value, you have to delete the original post 😉 Burn it!
Paul Mont | Satoshi Club: A crystallized, on-chain piece of history 💎
Jure Z ⛓🚀: BURN. MINT. EARN.
Check out the minting process here 😉
Mary | Satoshi Club: Haha, that’s cool slogan 👍
I can do this only with my own posts, right?
Jure Z ⛓🚀: Yes, only your posts.
After you get verified
Paul Mont | Satoshi Club: The process design seems very simple and intuitive – easy-peasy 👍
Mary | Satoshi Club: Ok, i need to think how i can get million likes😂
Jure Z ⛓🚀: True 🙂
Mary | Satoshi Club: Nice beginning)
Thank you Jure for your answers! Ready to proceed?
Jure Z ⛓🚀: Let’s go
Q2 from Telegram user @DK177
It caught my attention that you are planning to integrate with TikTok in the next quarter. Partnerships can determine the direction of a project. Can you please let me know what are the mutual benefits of this collaboration between CloutArt and TikTok? How does TikTok impact on the future developments of your project? Further, your roadmap ends from the first quarter of 2022. You have planned to begin accepting voting proposals from token holders within that quarter. It indicates that you have more future goals. What is your ultimate target? Please explain about your future plans to achieve that target because they are not included in the roadmap.
Jure Z ⛓🚀: It’s a good question with a complicated answer incoming 🙂
So yes, TikTok is on our todo with an actual mobile app by the end of this year.
And that one is pretty obvious — TikTok is the leading social media platform now
Governance beginning of next year is basically the introduction to how we want to position and build the $SWAY ecosystem
Mary | Satoshi Club: Yes😀 btw, do you have acc there?
Jure Z ⛓🚀: Keep in mind that Sway is a protocol that powers Clout.art and the token we’re selling now
But also a standalone product that now interacts with Clout.art, but could later work with OpenSea, Rarible, etc.
The idea behind SWAY is in helping creators establish web3 enabled creator economies
Clout.art is just the first product… which is actually funny, because projects usually build a protocol and then try to find a use case. We did the product first and the figured out that we need a underlying blockchain tech to support it 😄
I think we don’t have time to dwell deep into Sway, but read more here https://swaysocial.org
Paul Mont | Satoshi Club: So you’re saying that future partnerships will be influenced/decided via the protocol governance?
Mary | Satoshi Club: Yes, i already started 😀 it is worth exploring
Jure Z ⛓🚀: The goal is to have the decentralized layer really decentralized as in — we shouldn’t be callng the shots that influence the token or how and where it is integrated
So yes, we’re all about decentralization and DAOs 🙂
Mary | Satoshi Club: What kind of governance system will you have?
How your users will vote?
Jure Z ⛓🚀: I don’t think we’ve decided on the details yet, but we’re starting of with a council and ending with a equal distribution of voting power among token holders with a council veto option
But that’s still to be figured out, bigger fish to fry atm
Mary | Satoshi Club: Gotcha! We will follow your updates 😀
Mary | Satoshi Club: Thank you for your answers! Ready to go to the next question?🚀
Jure Z ⛓🚀: Let’s go 🚀
Q3 from Telegram user @Cheriemike
Clout is working on market verticals such as mainstream and extreme sports, influencers’ moments, and popular culture, and you seek only a limited number of these one that you can manage. My question is, how many of these market verticals do you currently have on your platform? Does that also mean that you will allow anyone to absolutely own and monetize any content they put up online that falls within these verticals?
Jure Z ⛓🚀: Yes, these are the verticals we want to start with. A lot of this space is still unexplored and it’s not only about the people we’re trying to get, but also about how crypto-savvy they are (at least in the early stages)
We’re happy to welcome anyone — we don’t have to manage anybody, they can all do it themselves
the platform — these verticals were described as a go-to-market approach
And yes, what you mint is your — we don’t even touch it
Mary | Satoshi Club: But how you will control content?
Jure Z ⛓🚀: It goes straigth to you wallet 😉
Mary | Satoshi Club: If it is something unacceptable?
Jure Z ⛓🚀: We can’t control all the content, but will have an editorial function to feature the best ones out
If an NFT is inappropriate/gets flagged, we remove it, and disable it treadeability — the minter will also get free lifetime permaban 😄
Mary | Satoshi Club: Understand 😀
Paul Mont | Satoshi Club: No second chance ☝️
Jure Z ⛓🚀: Think of it this way: we’re the tool that helps you turn what you already have into something you can earn money of directly
Q4 from Telegram user @Jmagsss
Can you tell us your policies to what will happen if a user’s social media account got deleted/reported/banned from the social platform itself? Will the minted NFT degrade/decrease its value and price? Will the NFT be burned also together with the deleted social media account? How does Clout Art deal with these scenarios?
Jure Z ⛓🚀: Amazing question!
So, the one thing we can do is freeze an NFT and ban/remove the user from platform. Other than that, there’s not really a lot of options. Once the NFT is in the wild, it goes around. It’s the same with other NFTs to. That’s why I think it will be important to check the validity on our site before buying
Mary | Satoshi Club: Are you always agree with social platform decisions? When they ban users?😀
Jure Z ⛓🚀: That’s what the decentralized layer should be solving, right? I think it’s not in our capacity initially to moderate content, but we will have a kill-switch if something like that is required
Paul Mont | Satoshi Club: So, to be clear, if I create an NFT out of, let’s say, an old Instagram post of mine, the NFT belongs to me. Then if my account gets banned for whatever reason, how will other users be able to buy it if they wanted to? Will it be lost forever since the owner (me) doesn’t own anymore the NFT equivalent (as I understand it) ?
It’s a very curious scenario to me 😄
Jure Z ⛓🚀: No, if you delete it it’s still there. But if it gets banned or removed and reported to us, we will permaban you as well.
You’re free to mint all your posts into NFTs and delete your IG, lol 😄
Mary | Satoshi Club: 100% guarantee 😂
Paul Mont | Satoshi Club: I see, clear now, thank you 😊
Mary | Satoshi Club: Thank you for your answers! Ready for the next question?
Jure Z ⛓🚀: Sure thing
`Q5 from Telegram user @Orlemys
According to your roadmap, in July, you launched the first version of your platform to investors and early adopters. Would you tell us what were some of the benefits you gave the early investor in particular? How many people participated? Are there any special airdrops coming soon? What would be the requirements?
Jure Z ⛓🚀: That’s true, we’ve been busy over summer onboarding early token buyers and users into the platform. We also had an airdrop campaign where over 100k people signed up to get in.
We plan to do another airdrop in the next couple months and that will mostly depend on the activity of users in the platform. So the more NFTs you mint, the better chances you have to get in 😉
Mary | Satoshi Club: Is this Ethereum chain?
Btw, how many NFTs were already minted?
Jure Z ⛓🚀: I can’t tell from the top of my mind… probably 100+
But you can find them all on OpenSea already 🙂
(if you’re a bit resourceful)
Mary | Satoshi Club: Do you charge additional fee for minting? Or it’s just gas cost?
I will😀
Jure Z ⛓🚀: No fee, not even gas… we pay for the gas 😉
Paul Mont | Satoshi Club: This is cool ✨🙌
By the way, safety is so important for the users as well, have you been audited or are audit plans in the works yet?
Mary | Satoshi Club: Wow, this is so sweet 🔥🔥🔥
Jure Z ⛓🚀: So it’s actually the easiset way to get your own NFTs — everybody has an IG account
We are just finalizing an audit with a third-party auditor and will be releasing a report beginning of next week 👍
Paul Mont | Satoshi Club: Great news! Gotcha! 🙌🙌
Mary | Satoshi Club: Super! Don’t forget to share results with us 😀
Thank you for your answers! Ready for the 6th and last question from this part?
Jure Z ⛓🚀: Haha, make sure to join our Tg and we will 😉
Let’s go
Q6 from Telegram user @Rotoxy
Some posts especially videos on social media already have ads embedded in them because the owners of such accounts had accepted for their accounts to be monetized.
Most of this post usually have large amount of engagement on social media. Will there not be a legal tussle between Clout and the social media companies if such posts are minted?
Do you have any agreement in place with social media companies since they are the ones providing the platform to make posts viral?
Jure Z ⛓🚀: Great question!
Yes, some posts are already ads and have made money to creators.
But our role here is very minimum, so there is very little legal liability in terms of what happens with the content.
When a users decides to mint with us, he fully undersands and adheres to the terms where we are a technology provider
By providing technology we can’t be hold responsible for what end-users do. It’s like holding Adobe responsible for when users use Photoshop to modify images 🙂
Mary | Satoshi Club: May be in the future big companies will mint NFTs with ads on your platform themselves 😉
Jure Z ⛓🚀: Think of us as Craig’s list — we give you the tools, how you use the tools is up to you. But we do verify the creator and monitor the content to the best of our ability.
Paul Mont | Satoshi Club: Very fitting analogy, very clear 😁
Mary | Satoshi Club: Jure, thank you for this informative first part!
Part 2 — live questions from the Telegram community
Q1 from telegram username @Orlemys
What are the minimum engagement numbers needed to convert our posts into NFTs? Do you have plans for partnerships with celebrities? Wouldn’t their NFT posts be extremely great in value?
Jure Z ⛓🚀: Minimum is 150 followers and account that is at least a couple months old. Yes, we are talking to some celebrities, but it is possible that your old post will be more valuable than their superpopular post from yesterday. That’s how the algorithm works.
Q2 from telegram username @superhero_898
We have seen in past the viral images & memes have turned in to costly NFT’s, But it happens rarely, Do you think platform will have bigger opportunitues for users?
Jure Z ⛓🚀: Yes! And not only for super viral memes, but also everyday users. Our plan is to support the microcreators in building and monetising his community with his/her content.
Q3 from telegram username @doithay1617
It seems that Cloud Art is only for celebrities, right? Because no one will buy the average person’s NFT, they have no fans!
Jure Z ⛓🚀: Not true at all. You have numerous microinfluencers (some we even talk to) that have devoted and loyal small communities. We’re pretty sure they’ll be able to sell their NFTs.
Q4 from telegram username @K2ice
What will be the percentage of Clout art in whatever NFT I mint?
Jure Z ⛓🚀: 0% 🙂
We’re free to use, we don’t take a cut because of a different business and economic model 🚀
Q5 from telegram username @esrarengizbtc
Now that you’re inviting users to convert their content into NFTs and sell them to their followers or wider audience by highlighting them in your collection drops, is converting content to NFT simple enough for users of all levels to do? What conditions must a content meet in order to be included in your NFT collection?
Jure Z ⛓🚀: That’s what we’re trying to improve on a daily basis. We need to have a super simple onboarding experience, and for now, crypto people understand it easily. However we’re still far from mainstream and plan to put a lot of R&D into that in the future.
The content must be from someone with at least 150 followers and a non-new account.
Q6 from telegram username @Ajpaa
Hello Jure
The initial issuance of SWAY is 100 million with a further 100 million to be distributed as incentives for platform adoption. This means that there will be continuous issuance of new tokens, up until the 200 million cap. Since content creators join the platform and create pools while users stake $SWAY into the pools, who gets the platform adoption token/incentive among the two adopters? If the two platform adopters gets the token/incentive, how is the token allocated/split to them? Is there anything a content creator or SWAY token staker do to increase his allocation if the incentive?
Jure Z ⛓🚀: Hi Ayuba Peter, love this one!
The way additional supply gets distributed is not through an inflation curve but by new creators joining the platform and establishing new creator pools. The newly issued SWAY then gets distributed based on a number of factors and to everyone in the ecosystem based on different ratios.
So the creators as well as stakers would get that. Hope that answers the question. But I love that you’re interested in that so send me a dm and we can discuss more 👍
Q7 from telegram username @Rakshhitx5
Private Sale waitlist of cloud. art is open. So what are the conditions to get selected in the private sale waitlist?
Jure Z ⛓: It’s very simple. We look at who could add value to the project in any capacity. If you can get us an intro to Donald Trump so he would mint a few posts… you’re in 😄
Q8 from telegram username @My1queen
Hi
⛵️⛵️
You said that “once NFT is in the wild, it goes around” what does this mean and what is the process of checking the validity of a NFT in CLOUT ART website.
Jure Z ⛓🚀: Yes, that means that once the NFT is minted, you can’t really stop it or withdraw it. There are ways to freeze it, but the idea behind decentralization is just that — not getting banned by some centralised entity.
Q9 from telegram username @nguyenben
What determines the value of NFT after Posts into NFT ? @jurez
Jure Z ⛓🚀: We don’t give the value as in monetary value in $$$ or MATIC. We only provide an index that helps you decide. And that index is based on likes, shares, comments, sentiment, different ratios, age…
The market has to decide on the value and price 🙂
Q10 from telegram username @King_Raja
I missed the Airdrop that was Given to early adopters in July Month, Do You plan to launch any airdrop program any time soon?
Jure Z ⛓🚀: Like mentioned above… yes, another airdrop is happenning! So stay tuned, mint at least one NFT and stick around for when the magic starts to happen 😉
Part 3 – Quiz Results
As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.
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