Vera x Satoshi Club AMA Recap from 19th of August

Vera x Satoshi Club AMA Recap from 19th of August

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 Vera and our guests were @denis_lam and @jlyn_tan. The AMA took place on 19 August.

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 Vera! Welcome to Satoshi Club😀

Gold Rocket | Satoshi Club: Hello, dear community!

Mary | Satoshi Club: And our guests today are

@denis_lam

@jlyn_tan

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club, guys!😊

Jeralyn T.: Hello everyone in Satoshi, so thrilled to meet with you guys today! My name is Jeralyn, representing Vera. Hope everyone is as excited as I am to have this session going on!

Mary | Satoshi Club: Wow, hello, Jeralyn! Welcome here!

And yes, we are very excited!

Gold Rocket | Satoshi Club: we are very excited and are waiting for you as a long-awaited guest😍

Thanks for joining @jlyn_tan

 [ 👌 Sticker ]

Let’s start!

Introduce yourself please. How did you get to be involved in crypto & Vera? Tell us please about your position in Vera? @jlyn_tan

Mary | Satoshi Club: And tell us more about Vera and it’s mission as well😃

Jeralyn T.: I personally am managing the operations in Vera itself, not something I would call an extremely exciting role, but it’s truly an eye opening experience getting exposed into crypto. Not an easy journey to say the least, but our founder, Denis has been very patient and nurturing in guiding me in all aspects.

Gold Rocket | Satoshi Club: as far as I know you have a really cool project. please tell me more about this

Jeralyn T.:  Vera aims to offer decentralized financing, leasing, lending, and other essential financial services for any NFT marketplace, game, or application.

Gold Rocket | Satoshi Club: in fact, all roles are important when you are part of a grand project

Mary | Satoshi Club: When your project started? How many team members are working on it?

Jeralyn T.: Our project was Founded in 2021. Currently we have our CEO Denis and our CTO spearheading the project.

Mary | Satoshi Club: Gotcha! Jeralyn, thank you for your intro!

We choose 6 questions for the first part of our AMA 😀 are you ready for them?

Q1 from Telegram user @meml97

It has caught my attention that one of the missions Vera Network has set to itself is to “Reinvent the Global Economy”, can you tell us more about this? What plans do you have to reach this goal of yours? How will Vera Network be able as a NFT platform to do that change on the global economy? Also, on what ways do you plan to reinvent the global economy? What problems do you see on it that you feel the need of doing so?

Jeralyn T.: Vera envisions a world where strangers can safely, quickly, and effortlessly perform financial transactions with the property or assets they create and/or own without high transaction costs and dependency on intermediaries.

Vera’s mission is simple: To build open, secure, and powerful NFT financial products that are equally available to everyone everywhere.

To put simply, Vera is here to provide Finance, Rent, Lend, and Verification for NFTs.

Gold Rocket | Satoshi Club: this is a very timely product! 👍

Mary | Satoshi Club: What blockchains will Vera support?

Gold Rocket | Satoshi Club: nft is experiencing its hype and there is a lack of good tools

Jeralyn T.:  These financial services are yet to be available in the crypto world, especially for this hot asset NFTs, which has garnered a lot of interest from traditional finance.

Mary | Satoshi Club: Sure, with Vera everything will be much simplier👍

Jeralyn T.:  Vera is an open financial platform for NFTs, built on Ethereum, Polkadot, Solana, and Polygon

Mary | Satoshi Club: You choose best platforms 👍

Gold Rocket | Satoshi Club: these are top blockchains👍

Mary | Satoshi Club: Thank you for your answers, Jeralyn! Ready to proceed?😀

Jeralyn T.:  *Polygon, sorry

Yes, please do!

Q2 from Telegram user @kimzyemma

Recently, there is scam Vera token going viral in the market where thousands of vera token is given out to the community. And you stated it on twitter that you just finalized your official website and have not generated token to anyone. By the time your token will be released, alot of fake tokens will still be released, how can you protect the community from fake Vera tokens? How can we identify the real token of yours? Concerning the NFT you sold for $130,000,000, is there any plan to supply more NFT to be bought?

Jeralyn T.: Fake tokens are commonplace in the space, unfortunately. As of now, the token has not been released and any token that claims to be from Vera is a scam. Please be aware!

By the time the token is released, the contract address will be provided to the community, so please watch out for our social media and official channels.

Mary | Satoshi Club: Could you tell us if you’re planning any token sales?😀

Jeralyn T.:  About the token sale, YES. We are anticipating an IDO in the near future. You will have to keep close watch on the Vera community to get the first dibs!

Gold Rocket | Satoshi Club: Oh yeah! early birds do all the grain…😁

Mary | Satoshi Club: Yes, we will for sure! 👍

Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question or want to add something?

Jeralyn T.: Let’s move on to the next question😊

Q3 from Telegram user  @Jmagsss

I saw in one of your blogs that one of Vera Labs investors is Animoca Brands, a global leader in branded mobile blockchain gaming who recently raised $88 million at a $1 billion valuation to capitalize on game NFTs. Vera is venturing with Animoca Brands to provide DeFi engines that allows in-game items for lending and leasing between players. May I know, what blockchain games will Vera implement its product and protocols with and would Vera consider integrating directly within the game itself so players won’t have to use third-party apps while playing?

Mary | Satoshi Club: https://link.medium.com/673cpMbWQib

Btw, very interesting article on this topic 🙂

Jeralyn T.: There are many things still under wraps. But what we CAN say is that the future users can expect direct integration with our partners. Players can interact with Vera portal to process their mortgages, in later phases it will be completely integrated and users will not know that there is Vera in the backend.

At the moment there are developments still being worked on and negotiated, so we won’t be able to disclose anything specific just yet. However, we of course appreciate the amount of attention we have gained and the support from the community, old and new. Please stay tuned to our channels for the latest news.

With Animoca Brands as one of our major supporters, we are in discussions to push out exciting developments once they are ready.

Gold Rocket | Satoshi Club: Thanks for your answers

Ready for the next question?

Mary | Satoshi Club: Can’t wait to see what we will get👍

Jeralyn T.: Yup, let’s go on!

Q4 from Telegram user @KathDM

I did read that Vera offers a wonderful opportunity when users decide to take a break from the game. Vera will allow us to rent out our game account or specific in-game items to another player so we can generate income from all the hard work we have put into the game while we take a break from playing. Can we decide for how long we rent our account? What happens if the person to whom we rent our account does not respect the agreed time? How do we protect the security of our account while it is rented? Will that user have access to our private information?

Jeralyn T.: Vera is simply a tool. It is up to the seller or owner to decide their desired rental terms.

Mary | Satoshi Club: But this idea is brilliant 😃

When do you plan this feature to go live?

Jeralyn T.: We are actively building and integrating our financing and rent products into customers/partners now. Will be live before end of year in their games or apps.

Gold Rocket | Satoshi Club: brevity is the sister of talent😊👍 thanks for your answers! Ready to proceed to the next question?

Jeralyn T.: 👍

Q5 from Telegram user @DK177

You have instructed users to make sure that their assets are authentic. Do you have a mechanism to check the authenticity? Currently, there are NFT assets related to Music, Gaming and Movies. How do you react if you find any copywrite issue related to this kind of asset? Further, for making the assets affordable to everyone, have you implemented a maximum price for an asset? Currently, NFT has become a trend. Did you design your project just to follow that trend or do you have specific reasons to choose this field?

Jeralyn T.: The authenticity issue is a problem with many assets before NFTs existed. While its not our core focus to attack this issue, we do have some solutions that can help. We have a product called Verify that makes it much more user friendly for buyers to know the NFT is authentic and certified by the seller or a specific brand or organization.

Gold Rocket | Satoshi Club: Do your users need to pass KYC?

Mary | Satoshi Club: So, we will be able to verify all types of content? I mean Music, Gaming and Movies?

Jeralyn T.: Using Vera, the assurance of authenticity is there with immutable records of the artwork’s identity, certification, verification method, and other related information on the blockchain. This information is publicly accessible to anyone using a blockchain explorer.

Vera’s on-chain registries will support existing universal unique identification methodologies and wireless communication protocols such as AI computer vision object scans, NFC smart tags, and RFID sensors.

We are a DECENTRALIZED protocol. So no KYC.

Gold Rocket | Satoshi Club: Thanks for your answers

Jeralyn T.: We can work with our clients on those industries to implement their desired compliance/authenticity protocols.

Mary | Satoshi Club: Fantastic 👍

Jeralyn T.: Each asset type is different. Vera is just a framework or canvas, but we can accommodate most processes.

Mary | Satoshi Club: Got it! Jeralyn, thank you for your answers! Ready for the next question?😃

Jeralyn T.: 👌

Q6 from Telegram User @igervacio

I like to learn a bit about coding and your platform offers an empowerment for developers, I went to your road map looking for a date related to an important event for dApps developers and I observed that you had a goal planned called “Code Sandboxing” What do you mean by “code sandboxing” and why fulfillment of this objective is vital for the development of Vera Network? What facilities does this update offer for the growth of dApps developers in Vera Network?

Jeralyn T.: Code Sandboxing gives devs the ability to simulate production code without going to production. This helps with product acceptance testing for clients that use our products.

Vera is focused to make developers happy when it comes to enabling DeFI for NFTs… so we will build tools to make integration easier over time.

Mary | Satoshi Club: Sure, you will attract a lot of developers!

Gold Rocket | Satoshi Club: thanks a lot for the answers. and now, before moving on to the live part of the AMA, you can share useful links with Satoshi Clubbers😊

Jeralyn T.: Social media handles and official links:

Website: https://vera.financial/

Medium: https://blog.vera.financial/

Twitter: https://twitter.com/veradefi

Telegram: https://t.me/veranetwork 

Github: https://github.com/veradefi

💬 Chat with us on Telegram — @veranetwork

Part 2 — live questions from the Telegram community

Q1  from telegram username @ashwini_Crypto

As It is Predicted that NFT industry can be next Trillion dollar industry,

& Also lot of NFT project are launching with Artist, Musician, Artists,

Don’t you think with launch of so many NFT projects, there will be no rarity & it will loose its value?

 Jeralyn T.: We are not another NFT project.  We provide financial services for any NFT project and as of now I do not know of any competitors.  So regardless which NFT game or marketplace wins or loses we have market demand. Our customer traction right now is super high and thats why we are actively hiring talent so we can meet the demand.

Q2  from telegram username @Gemshunter22

Does vera network has any plan to support more blochchains in the future? what are your cross chain integration plans to gain mass adoption?

Jeralyn T.: We are currently working on supporting Ethereum NFTs and soon Solana, Polygon, BSC as well. Vera ultimately can support NFTs from any credible blockchain.

Q3  from telegram username @Kabirkapoor9

Will Vera in future be partnering with DeFi Insurance projects to protect their users from volatility in maket? What are your plans for offering Insurance product to provide all the Borrowing, lending, and insuring the product under one roof?

Jeralyn T.: We currently dont work with any insurance project but open to explore if you know any. We are a DeFI service layer for NFT assets so in theory we can work with any project or app that uses NFTs.

Q4  from telegram username @Kushal85127939

Can you please name few strategic partners who are contributing materially in Vera’s venture? What kind of Resources, Tech they are providing to Vera?

Jeralyn T.: Our lead strategic backer is Animoca Brands. They are the largest NFT gaming company in the world that invested in many of the big names you heard of like Axie Infinity, Open Sea, CryptoKitties and so much more. Our backers do not only commit resources but help with partnerships to existing apps games or metaverses so Vera can have mass adoption quickly.

Another up and coming game we will partner with is Highstreet. I cannot say more for now but they’re an exciting VR metaverse with real world customers like luxury and fashion brands that want to get into NFTs.

https://cointelegraph.com/press-releases/htc-backed-vr-metaverse-highstreet-raises-5m-in-its-latest-funding-round

Our strategy is to work with some of the best grassroots communities in the crypto space such as Satoshi club! 😉

Q5  from telegram username @jirencrypto

❎ By this point in 2021 no one is surprised at all the things that can be tokenized in the form of an NFT, however I would like to know what types of assets/products/artwork Vera is thinking for. Do they have the tools to tokenize literally anything? No scalability issues in that matter?

Jeralyn T.: It is NOT up to Vera to decide what assets should be tokenized as NFTs. We are just a financial or banking platform for NFTs regardless what asset class they represent. Its up to our customers/partners to figure that out.

Vera is building steering wheels and brakes… our partners are the ones using us to build their dream car!

Q6  from telegram username @Shakil10000

🔥🔥🔥What are your key features that you are very proud of and feel very confident about that makes you ahead over any project out there?

Jeralyn T.: 1. First mover advantages:  No project we know of is currently offering our financial products and services. We talked to several games and nft apps and none know of a solution provider they are forced to consider building these services on their own. If you were a game its not smart or strategic to build your own bank or financial platform.

2. Seller or custodian protection: NFTs like crypto, once sent to someone you may never get it back. Good luck with disputes. Our products have seller protection built into our smart contracts so if a customer does not pay rent or make monthly payments by an agreed upon deadline they will lose the NFT and itll go back to the right owner. This feature does not exist right now in NFT world.

3. Product Market Fit – App or games selling NFTs already making revenue all tell us its a no brainer to use Vera to increase their revenues and give their user community more amazing experiences with stuff their own and love.

4. Rewards! Passive income! Play to earn is a big deal because we all love making money when we play our favorite game. We will +1 Play to Earn to next level by letting you stake your game nfts and make passive income regardless if someone rents your nft or not!

Q7  from telegram username @KhaleesiTheCryptoLady

VERA is currently looking for an ambitious and experienced talent, so what exactly talent are you looking for? What positions are available at VERA?

Jeralyn T.: We are looking for a wide range of talent to join us, you’ll be able to see more details about the job positions at https://angel.co/company/vera-labs/jobs

Feel free to reach out to us even if you don’t fit the specific roles – we thrive on our community and we are open to listening to what you have to offer

Q8  from telegram username @KeymerS

If really the largest number of NFT art producers are the ETH and BSC chains, then why develop your project aimed at improving NFT markets in a chain other than these like Polkadot?

 Jeralyn T.: The future of NFTs will be on multiple chains. Substrate and Polkadot has tools to help us make bridges to work with NFTs on any chain so we actually can work with NFTs on those chains you mentioned about. Most of our clients are on Ethereum NFTs which is the biggest NFT market and we are integrating with them.

Q9  from telegram username @coinresearcher

I’ve seen a product of you named Verify. What is Verify and what properties does it have?

Jeralyn T.: Verify is a product we are building to simplify the user experience for buyers to buy authentic NFTs and let sellers or brands protect their IP no matter which marketplace or game the NFT is sold on. It is an NFT asset identity management solution.

Q10   from telegram username @habibi_ve

✅ I could see in your roadmap that by Q3 (very soon) you plan to start the global partner and customer acquisition campaign for the launch pad. Can you describe what your plans are for that? Can you mention some potential partners and customers that are interested already?

 Jeralyn T.: Our roadmap is available at https://vera.financial/ and the latest updates will be posted on all of our social media channels, so make sure you follow them all!

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:

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Website: https://esatoshi.club/

Our partners:

Telegram:  : https://t.me/veranetwork 

Twitter: https://twitter.com/veradefi

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