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 OLIVE PROJECT and our guest was . The AMA took place on the 23rd of April.
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&WebSite
Mary | Satoshi Club
Hello Satoshi Club! We are happy to announce our AMA session with OLIVE PROJECT! Welcome to Satoshi Club
Robocop | Satoshi Club
Today our special guests is @art01088909091
Robocop | Satoshi Club
Welcome to Satoshi Club!
It’s looks like our guest have a technical problem, let’s wait a little bit more
Mary | Satoshi Club
@cshct1 welcome to Satoshi Club
Robocop | Satoshi Club
Welcome to Satoshi Club @cshct1
Sunghwan (Olive) Choi
hello
Mary | Satoshi Club
Happy to see you here today
Robocop | Satoshi Club
Hello how are you doing ?
Sunghwan (Olive) Choi
Hello everyone. How are you today?
Robocop | Satoshi Club
We are very great today, so excited to do AMA with Olive Project
Mary | Satoshi Club
And we want to know about your project as much as possible
Robocop | Satoshi Club
Let’s start our AMA
Sunghwan (Olive) Choi
Great
Mary | Satoshi Club
And we will start it with introduction
Sunghwan (Olive) Choi
We’re very excited too!
Mary | Satoshi Club
Sunghwan, could you please introduce yourself and tell your crypto story
How did you get into crypto?
Sunghwan (Olive) Choi
Hello, I’m Choi Sung Hwan, CEO of Olive Corporation. I worked in the F&B industry for more than 10 years in Korea for companies like Pizza Hut and Starbucks. For your information, “F&B” stands for “food and beverage” and refers to a company, facility, or department involved in the food and beverage business.
Mary | Satoshi Club
Oh, Starbucks is my weak spot
Sunghwan (Olive) Choi
I have been in the F&B industry for more than 10 years and got naturally introduced to the crypto industry.
Robocop | Satoshi Club
Thats really impressive ! That’s a great background and experience,
by the way how is the story behind Olive Project ?
Robocop | Satoshi Club
And can you please introduce to us what is Olive Project about ?
Sunghwan (Olive) Choi
Let me introduce our partner company, BBQ
Olive started with partner BBQ’s 3,000 stores in 20 countries, how to take advantage of the customer’s points.
Robocop | Satoshi Club
Cool ! I am from Indonesia, already visit Chicken & Beer , that’s great restaurant
Mary | Satoshi Club
When OLIVE PROJECT was founded?
Sunghwan (Olive) Choi
Olive Project was started about a year ago.
That’s great to hear!
Mary | Satoshi Club
And you achievements are impressive! Great job!
Robocop | Satoshi Club
Thank you for the great introduction Mr Sunghwan Choi
Sunghwan (Olive) Choi
thank you very much!!!
Mary | Satoshi Club
Who help you to develop your project? How big is your team?
Sunghwan (Olive) Choi
We have 25 members working on the project – 10 in the development team and 15 in the operations team.
Mary | Satoshi Club
Great! Big team! Sire you will reach a lot with them!
Sunghwan (Olive) Choi
Thank you
Mary | Satoshi Club
Thank you for awesome intro! We choose 6 questions from our community for the first part of our AMA! Sunghwan, are you ready for them?
Sunghwan (Olive) Choi
ok
Robocop | Satoshi Club
Q1 From Telegram User @Cheriemike
I noticed that Olive Corporation have a “META SCHOOL TOWN” in Korea and because you have recognized the fact that Generation MZ holds the future of the metaverse and that many young person are also familiar with Metaverse you shifted your attention in developing a Metaverse that starts with universities.Since you already have Meta School 1-3 in some Korean Universities.So is this meta school meant for only Korean users?What plans to do you develop Meta Schools in the different countries?Are there some basic requirements/information needed to enroll in the school?Please tell us more the Meta School.Thanks
Sunghwan (Olive) Choi
Robocop | Satoshi Club
Awesome app ! but this is only available for college / university student , right ?
Sunghwan (Olive) Choi
I think the success of Metaverse depends on securing loyal users. What are the most successful meta verse platforms on Web 2.0 today? They are probably the sandbox game Roblox and Naver’s ZEPETO as you think. Most of their users are in their 10s or early 20s of the generation MZ. Our Olive Metaverse starts from schools which are the center of the generation MZ.
Robocop | Satoshi Club
Do you have plan to reach other country outside Korea ?
Mary | Satoshi Club
You are very far-sighted and choose the right development strategy
Sunghwan (Olive) Choi
The first version of Olive Metabus is used only for Korean university students.
Mary | Satoshi Club
How successful is it now? What is your opinion?
Sunghwan (Olive) Choi
It is designed to be compatible with overseas universities in Olive Metabus 2.0.
We plan to expand to countries outside Korea in Olive Metaverse 2.0.
Robocop | Satoshi Club
Can we know which country will you try to expand this program ?
Sunghwan (Olive) Choi
Olive Metabus is currently under development.
Robocop | Satoshi Club
or its still a secret ?
Sunghwan (Olive) Choi
Olive Metabus will release a beta version in the fourth quarter.
Robocop | Satoshi Club
Thank you for the answer , do you want to add something or we can go to next question?
Sunghwan (Olive) Choi
Olive App is currently available.
We’re planning to expand to countries where there are universities affiliated with universities in Korea.
Let’s take Korea as an example. The number of university enrolments every year is about 500,000. Considering the average school year of university students, 2.2 million target customers can be secured at the same. And the number of related occupations alone is about 100,000, which will be the basis for the future expansion into the service sector.
Mary | Satoshi Club
Nice move!
Sunghwan (Olive) Choi
The metaverse, which starts in this school space, can link different schools and even link students with schools across the globe. The future space where these universities can communicate to each other in a virtual space is the beginning of Olive Metaverse.
In Olive Metaverse, schools and students are provided with an optimal digital environment ranging from lectures to academic schedules. Furthermore, you can make new friends with 3D avatars at Olive Meta School and communicate with students of your age from all over the world. Olive tokens can be used in all these school activities. Students can use them in a virtual space for financial activities such as making a payment for their tuition or purchases at convenient stores.
Olive Metaverse is planned from version 1 to version 3. Version 1 will be designed mainly for universities in Korea. Then in version 2, it’ll be linked with overseas universities. Finally in version 3, we plan to connect Olive Metaverse with other social platforms outside universities.
Mary | Satoshi Club
Thank you for your answers, Sunghwan! Ready to proceed?
Sunghwan (Olive) Choi
ok
Robocop | Satoshi Club
Q2 From Telegram User @Chairmanw
As i understand by using Olive application, we can get point for Olive token and use them to buy NFT. I am very interested with Olive NFT which are unique because contain of EGG NFT, Chicken NFT, BBQ NFT but can you explain the detail what are the usecase of NFT from Olive project? Do we possible to stake the NFT and how are the system work for staking inside Olive?
Sunghwan (Olive) Choi
The NFT service is available at Chicken Staking, one of the Olive Wallet App DeFi services. It is a fun defi service that can only be found in Olive.
When you purchase chickens in the Olive Wallet APP, a coupon is automatically issued, which contains ‘eggs’ corresponding to grades of 1-5. This egg has a lottery function which gives you NTF, Olive Tokens, or chicken coupons when you scratch it.
Robocop | Satoshi Club
I love chicken!
Sunghwan (Olive) Choi
You can acquire various NFTs and will be given a membership privileges to engage in various on/offline activities of Olive depending on the membership levels. Also, limited NFT members can join the Olive community and engage in various activities. Different membership levels will let you enjoy monthly BBQ chicken gift vouchers and various activities such as a new menu launch VIP invites.
Olive NTF will be available for purchases through NTF market in the Olive app or OPENSEA, or Olive Metaverse. This service will be provided Olive Wallet App 2.0 in the fourth quarter of 2022.
Mary | Satoshi Club
We will wait for the OpenSea
Thank you for your answers! Ready to go to the next question?
Sunghwan (Olive) Choi
ok
Robocop | Satoshi Club
Thank you for the detail answer !
Q3 From Telegram User @thisistoyin
Hi
I learnt that Olive’s flagship F&B (Food and Beverage) chain partner is BBQ Vietnam, a global chicken brand with more than 3,000 stores in 20 countries, and giving the fact that your platform OLIVE is Global, I would like to know about the numerous Franchise and companies that you’ve been able to sign business agreements with, in other to facilitate the Vision behind your Platform can talk more on your Partnerships? I would like to know more about the Partnerships you’ve being able to establish over time, because giving the fact Partnerships as we all know, plays a vital role in Establishing trust for both the average users and investors in a community, so I would like to know about your associatited partners around the world, do you have any available VCs backing your Project? Thanks
Sunghwan (Olive) Choi
Sure. Let’s move on.
Robocop | Satoshi Club
Some already covered at the beginning, but i believe you still have something to add here
Sunghwan (Olive) Choi
Olive’s biggest F&B chain partner is BBQ Vietnam, a global chicken brand that operates over 3,000 stores in 20 countries. It is an overseas branch of BBQ that is engaged in global sales activities.
Other VC partners include AC CAPITAL and 5 overseas VCs. We’re in discussion with about 100 famous F&B franchise companies to sign verseiness agreements by this year. Furthermore, we’re also planning to meet with large global hotel companies.
Olive aims to create a global app that can be used anywhere in the world by connecting global franchises which are the potential partners such as F&B, travel, and hotel companies.
Robocop | Satoshi Club
I like Olive Project ambitious goals.
And also a very clear implementation!
Sunghwan (Olive) Choi
Glad to hear that!
Mary | Satoshi Club
How many users do you have now? And which number of users will satisfy you in the nearest future?
Robocop | Satoshi Club
Can you please share Roadmap from Olive Project ?
Sunghwan (Olive) Choi
Currently, we have about 50,000 BBQ members in Korea.
Robocop | Satoshi Club
Thank you for sharing this
Sunghwan (Olive) Choi
Please refer to the roadmap in the slide below.
Mary | Satoshi Club
Sunghwan, thank you for your answers! Ready for the next question?
Sunghwan (Olive) Choi
ok
Robocop | Satoshi Club
Q4 from Telegram User @Highpee
Within Olive platform Metaverse, users will be able to create a 3D Avatar which serve as a core element of the Metaverse platform. Can you explain the process of 3D Avatar creation and how it is used to meet with friend, play with them, study and perform economics activities? How will a user decorate his 3D-Avatar and what opportunity does a decorated avatar gives more than an undecorated one? How does your 3D-Avatar bridge the world together and real world together? How is it used in the playground to discover and complete hidden quests and what other metaverse game will Avatars be able to compete in?
Sunghwan (Olive) Choi
In Olive Metaverse, users can show their own image by uploading their photos or create new ones. You can also choose a body type and personality. The Olive Metaverse platform will be serviced at universities for the first time, and it will make up the metaverse world based on university life. You can attend lectures and hold club meetings in the metaverse.
Mary | Satoshi Club
Will your Avatars have tattoos, for example?
Sunghwan (Olive) Choi
You can order food in Metaverse and the order will be reflected in the offline store in the real world, so you can go to the store in the real world to eat. These real-world activities are reflected back in the metaverse as my avatar. At this time, if I ate BBQ chicken, my metaverse avatar is also eating BBQ, and the BBQ chicken logo is displayed at this time to indicate the advertising effect. Economic activities in the real world are also implemented in the metaverse, creating synergy with each other.
Robocop | Satoshi Club
Its look so realistic , by the way what is the requirement to create avatar? do we need to have Olive Token?
Sunghwan (Olive) Choi
Sorry, tatoos are not yet available. But we’ll certainly consider!
We want to give you more opportunities when decorating your avatar. Each partner will do a quest based on the partner’s product, and purchasing related products in the real world or metaverse will make it easier to discover and complete the quest. And we plan to integrate it into other metaverses as Olive Avatar in the future.
Mary | Satoshi Club
I remember i read article about such Metaverse’s features, but i thought we are still far away from this. I see that i was wrong
Sunghwan (Olive) Choi
Avatars are available to users by default. Olive Tokens can be used to purchase costumes and accessories.
Mary | Satoshi Club
Your Avatars will belong only persons or enterprises will participate in this as well?
Sunghwan (Olive) Choi
Metaverse technologies in Korea are very well deveoped.
You can expect many great things in the near future. :
Robocop | Satoshi Club
That’s great utility ! can you mention other use from Olive Token?
Sunghwan (Olive) Choi
Enterprises will be able to participate in Olive Metaverse too.
Mary | Satoshi Club
Incredible! Real Metaverse
Sunghwan (Olive) Choi
You can use Olive Tokes to pay for tuitions, purchase F&B gift vouchers, and buy NFTs in Olive Metaverse.
Robocop | Satoshi Club
That’s great! Thank you for the answer
Sunghwan (Olive) Choi
You’re welcome.
Mary | Satoshi Club
Ready for the next question?
Robocop | Satoshi Club
Are you ready for the next question ?
Sunghwan (Olive) Choi
I’ll upload a great video about Olive Metaverse for your reference.
Yes, let’s move on to the next question.
Mary | Satoshi Club
Sure! I love your visualization! It always works!
Robocop | Satoshi Club
Great ! hope there is an English sub on this video
Robocop | Satoshi Club
Q5 from Telegram User @Rotoxy
You have a rewarding system that reward all activities within your metaverse using a point based system and these points are exchangeable to your native token. I saw that these points will be given according to grades based on each activities. Can you tell us how the activities that users do in your metaverse are graded and the point range for the various grading? Also, you said users must complete KYC before they will be able to exchange and withdraw their points. Why is this necessary and what are the procedure to follow in order to complete identify verification for point exchange? At what ratio do POINTS exchange for OLIVE and what are the fees that apply?
Sunghwan (Olive) Choi
Certainly, we’ll add an English subtitle soon!
Robocop | Satoshi Club
Thank you
Sunghwan (Olive) Choi
KYC Verification, which is an increasingly important part of the blockchain, is a system to prevent criminal acts or hacking incidents in cryptocurrency. We are also working hard to get Olive to be KYC certified as soon as possible. Various criminal acts are taking place in Metaverse, where there are many users now, so it is crucial to get the KYC Verification. Furthermore, since Olive Metaverse is a school-based virtual space, KYC Verification is even more important.
Metaverse provides all environments from lectures to academic calendar connections so that offline school life and virtual school life are the same. Students can enjoy their school lives using their avatars. In addition, various economic activities can be carried out within the Metaverse through partnerships with various F&B and e-commerce business partners. Points obtained through quests are stored as olives, and olives store the points requested by the customer in a 1:1 ratio. Points can be freely exchanged for Olive Tokens.
Robocop | Satoshi Club
Speak of security, do Olive Project already do audit for smart contract?
Mary | Satoshi Club
So, all your users from all countries will need to go through KYC verification in the future?
Sunghwan (Olive) Choi
The audit is already in progres. KYC vertification is not required for all countries but depends on the local policies. It is required in Korea.
Mary | Satoshi Club
Completely clear! Thank you!
Robocop | Satoshi Club
Thank you for the clarification
Sunghwan (Olive) Choi
You’re welcome!
Robocop | Satoshi Club
Let’s continue to last question from part 1 ?
Sunghwan (Olive) Choi
ok
Robocop | Satoshi Club
Q6 from Telegram user @jameslekan664
Under the Playground feature, I observed OLIVE STAR. With OLIVE Metaverse; Fan-meeting, autograph events, concerts, previews are held in OLIVE metaverse with celebrities. Please further exoantiate on OLIVE STAR.. How are all these events coordinated? What fees will users be charged to access these events? Do you have partnerships with celebrities to further enhance the overall performance of OLIVE STAR? Will these events be opened only to Koreans or can users from other parts of the world join up?
Sunghwan (Olive) Choi
We think content is the key to Metaverse’ success. If the content is good, many users will enter the Metaverse, and we think it will be a virtuous cycle and good content will occur again.
we wants Korean universities to adopt Olive Meta-school and build a good ecosystem based on the secured users. a university festival is a big event during my college life, and we plan to hold a fan signing concert in Metaverse. we think tickets can be sold on Metaverse because tickets are already purchased to see famous singers perform at university festivals in Korea. we going to sign a contract with celebrities for each performance.Users from other parts of the world can also participate in these events.
Mary | Satoshi Club
Thank you for detailed answer! Could you please share your social media links before live part will start?
Sunghwan (Olive) Choi
1. Homepage : http://oliveco.biz/
2. Community
– Telegram : https://t.me/OLIVE_PROJECT
– Twitter : https://twitter.com/olivemetaverse
– Medium : https://medium.com/@oliveproject
3. White paper: https://drive.google.com/file/d/1nregqKdP4cKLHIUHGJNlxfqaU09qC2jL/view
Robocop | Satoshi Club
Thank you for the detail answer! it has been an amazing time in this first part of the AMA Mr Sunghwan
Now is time to proceed with the second part, the live segment part 2, are you ready for the storm of question?
Sunghwan (Olive) Choi
thank you !!
It’s been amazing. Let’s move on!
Robocop | Satoshi Club
We will open chat for 120 second, after that please choose 10 best question and answer them
Mary | Satoshi Club
Let’s go
Part 2 — live questions from the Telegram community
Q1 from Telegram user @Camila571
Let us know how many peeps are there currently working in OLIVE. Where can we find the team? Do you have plans to increase the team members?
Sunghwan (Olive) Choi
Please refer to the homepage~~
Homepage : http://oliveco.biz/
Q2 from Telegram user Air Jordan
NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is olive’s approach to the NFT sector?
Sunghwan (Olive) Choi
The most important part is that NFTs are non-fungible. Currently, NFT is mainly used as content such as copyright or art. However, if the blockchain technology is further developed in the future and the blockchain starts to be used in a wider field, I think the scope of use of this NFT will also expand. In addition, since NFT will be essential in metaverse, which will become a key business field in the future, it is only a matter of time for NFT and metaverse to develop together.
Metaverse of Olive Business will also create a new paradigm in the NFT market through collaboration with several NFT companies in addition to its own NFT.
Q3 from Telegram user @Kargil1999
You Said that Olive Metaverse is Mainky targeting the Universities students,
How are you trying to approach these students to use your platform?
Sunghwan (Olive) Choi
The Korean government sent an official letter to the university to use the metabus platform. We’re working on a contract with the schools
Q4 from Telegram user Cerant
Where I can get the latest updates or more information about the project??
Sunghwan (Olive) Choi
Please refer to the homepage And you can communicate through email.
- Homepage : http://oliveco.biz/
- Community
- Telegram : https://t.me/OLIVE_PROJECT
- Twitter : https://twitter.com/olivemetaverse
- Medium : https://medium.com/@oliveproject
Q5 from Telegram user @burshanggal
You mentioned that we might swap these membership points for the OLIVE token; and what was the point-to-OLIVE-token conversion ratio?
Sunghwan (Olive) Choi
It’s 1:1 according to policy. However, there may be changes in contracts with companies.
Q6 from Telegram user @Rakshhit
What is KIP-7, KIP-17 and KAIKAS? Can you give us some introduction about this?
Sunghwan (Olive) Choi
Kaikas is a Clayton-based wallet. The tokens used there are kip-7, kip-17.
kip-7 replaceable token / kip-17 irreplaceable token.
Q7 from Telegram user @Murthy_Rajpaksha
I Read that users can Use Their Points to Buy Defi Services,
What Defi Services is provided to them?
Sunghwan (Olive) Choi
Q8 from Telegram user @Top1crypto2
Is there any information about your platform that hasn’t come up in recent times? Your platform participants do not know about that information. Can you tell us some information that is unknown to us?
Sunghwan (Olive) Choi
You can find out the latest information through the website and the community. If you continue to visit our community, you can see a lot of information.
Q9 from Telegram user @Fatima6734
Will All the Stores Be integrated on Your Platform,
& Users have to use your Platform to buy from those stores?
Sunghwan (Olive) Choi
You need to purchase through Olive App to earn points. All users must join Olive, and the goal is to increase usability through collaboration with many countries and franchise companies.
Q10 from Telegram user @EdgarCNova
What inspired you to create this project and why did you decide to use the name OLIVE in your project? is OLIVE a project based on a business model and created in a point integration system? can you give a brief summary of how the points integration system works in the OLIVE metaverse?
Sunghwan (Olive) Choi
Olive started with Olive Oil, the signature of its partner BBQ Chicken. It is an integrated platform that can be used for various purposes on Olive Metabus and Olive Wallet Apps as a point obtained after purchasing food from Olive Partners after signing up for Olive App
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.
For more information and future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club/
Russian Telegram group: https://t.me/satoshi_club_ru/
Spanish Telegram group: https://t.me/satoshi_club_spanish/
Telegram Channel: https://t.me/satoshi_club_channel/
Twitter: https://twitter.com/realsatoshiclub/
Website: https://esatoshi.club/
Our partners:
– Telegram : https://t.me/OLIVE_PROJECT
– Twitter : https://twitter.com/olivemetaverse
– Medium : https://medium.com/@oliveproject