AMA Recap: The CryptSpace
Basic information
- Time: September 14th, 2021 at 2PM UTC
- Project name: The CryptSpace
- Host: Kristen from BSC Army
- Guest speakers: Cliff Fettner | CEO & Mechanic | COO
- Main content:
- Part 1: Project overview
- Part 2: Security
- Part 3: Marketing Strategy
- Part 4: Community Q&A
MAIN CONTENT
Part 1: PROJECT OVERVIEW
Would you like to introduce yourself and your positions in the project?
Cliff: Sure, my name is Cliff Fettner, I’m the CEO of The CryptSpace. We came togEther from multiple projects. Mechanic was on another one and Iwas on a project called ‘Asgard’. Mechanic was on the original one called ‘Crypt’ at the time.
Mechanic: It started from a group in discord and we just decided to create our own token which did pretty well but as time passed, obviously, our team started to become less inaccurate, become active. Istarted talking to Cliff, we just gave up an idea to join forces and just create a super project together which should work out quite nicely.
Can you tell me the story behind ‘The CryptSpace’ and what are the visions and missions of this project?
Cliff: Sure. So it’s actually kind of an interesting story and kind of goes back a little ways and from a lot of different angles because we’ve actually merged four different projects into one. With my own path in the story, there was another project called ‘Ragnarok’, ‘Rock’ for short. That was where I Got started in this, got in early with the private sale with that token and unfortunately on their v1 launch there was an issue with the contract and it ended up having to be relaunched again with the v2 and when that happened, prior to launching the new v2 contract, they wanted to test the new contract so they launched two test tokens, one of them was called Valhalla, that was launched first with a particular set of tokenomics and then we launched Asgard, which is the one that Ieventually took over. As the second test token and the actual same contract as Ragnarok did when it launched, so when that one kind of came out I took that over and we started running with that as a new project. Unfortunately the original project Ragnarok didn’t have a really good developer behind it and unfortunately they ended up rug pulling a lot of people so that wasn’t a great situation. But we ended up with Asgard trying to help out that community and we brought all the Rock holders into our Asgard community and then airdropped them and brought them in when we actually relaunched our v2 contract for Asgard to combine them. And then from there we had actually launched on Asgard both on BSC and then another second token on the Ethereum network, and then a while after that happened Mechanic and I had been talking because Mechanic was on crypt and then also who’s not with us today, Elsie, was also with crypt. But we started to think at first it was kind of a kind of jokingly we talked about maybe wouldn’t it be cool to combine the projects and so we ended up bringing both Asgard, the Rock community that had already integrated into Asgard and then crypt and then right before we relaunched together as kind of one super project as Mechanic said earlier, we ended up bringing in a fourth project, Gaia, that kind of was looking for new ownership at the time. So to break down what all four of the projects are and kind of the background, so Rock was developing a launch pad which we had integrated into Asgard and we’re still in the process of developing the launch pad currently, but basically it’s going to be a place for token projects to come to and we’re going to have a vetting system that will vet out other tokens make sure that they’re real that they’re not going to be ruggles and we’ll end up people giving them a rating and putting them on our website. Once they go through the vetting process, we will also be adding them to our rewards program that we’re running now. The rewards program basically often offers a token of the week and what we do with our contract is we offer that particular token as rewards for that week. So we have interchangeable rewards within our contract. As part of the vetting process once they’re vetted, we’ll be doing some advertising for the other tokens, we’ll be giving their tokens away as rewards and we’re trying to develop partnerships with other tokens because honestly partnerships are always good. So that one aspect is the launch pad and rewards program. Asgard had a portfolio tracker so we’ve got an initial product called crypt tracker since we’re now all under the umbrella of the crypt space. We’ve got the portfolio tracker and future plans for that are going to add tax reporting software and obviously additional features. We’ll be always adding features to the software, we’re going to have different tiers for the software. I Think we’ll get to a little bit later on when we talk about the tokenomics and the utility for this but we’ll be using our token for part of the payment for some of the higher features in the software and then and then crypts had an NFT marketplace. We’ve got our version one out right now off the marketplace but we are currently in development of a new revamped marketplace that we’re really excited about. That’ll be coming out in the very near future here. So with crypt then the kind of the claim to fame with them was that they offered really the lowest minting fees for NFTs and large size entities up to 200 megabytes. So they’re they’re offering basically NFT minting for 30 percents which is if you go to a lot of the other other NFT marketplaces out there like opensea or any of the others you’re paying a lot more to to miniature your NFTs there so we’re really kind of geared toward and giving place because a lot of the artists are starting out they’re struggling,, they don’t have a lot of funds, they’re trying to make something of their artwork, so we’re really offering them a place to come and not have to spend a lot of money to be able to promote their artwork. So that’s where the NFT marketplace comes in with what crypt had and then the last project that we had integrated into this was Gaia that has a staking platform. In the future, we are now revamping the staking platform that they had and we will be offering that as Crypt staking and basically we will have our own staking platform, which will also tie into the launch pad, so as we vet and we bring tokens on and we put them into the rewards program we will also have a program to offer to those tokens the ability to stake their tokens and create staking pools with us so that people can invest in. So you can see from beginning to end we’re going all the way from a launch pad to launching your token we will help tokens actually plan their launch, we’ve got actually a whole program that we’ve actually used multiple times now that will calculate everything you need from your total supply to token price to market cap,.. all of that information so we have a program that we can offer to them to help them launch their token. And then have a place for them to launch and then it goes from there to tracking your portfolio and being able to see what all of your investments are in with Crypt tracker to have NFT marketplace and then even with the NFC marketplace. that’s also going to tie back into the whole promotion and promoting of these tokens that we’re going to be working with and partnering with on our website as part of the promotions and giveaways we’ll be minting NFTs for them to give as part of their week of promotion that we will be doing with them to get them some extra exposure. And then obviously once you’re on our platform and you’ve either launched a token or you’re investing through our program in other tokens that are or have been vetted then you will also be able to stake in some of those tokens on our staking platform. So that’s kind of the long and the short of it Ican share my screen to show you guys the initial.
[SHARING THE WEBSITE]
So this is the version one of our NFT marketplace. We are going through right now as I Mentioned before and we’re rebranding this and we’ve got a whole new platform we’re going to be rolling out in the near future here but you can see there’s a bunch of NFTs minted and and on the site we have some some artists that are with us that have been promoting with us some of their artwork and we’re gonna be doing some other promotions here coming up real soon that we’re working on with some other artists. We’re hoping to plan those promotions as we roll out the new website for the marketplace. But the first version is here you can use it. I guess at the end of this we can share links if you come to our actual telegram community or our website which is thecripspace.com, you can get a lot of these links to be able to get to all of our products. That’s one thing on the marketplace and the other thing that Iwas mentioning earlier was also a crypt tracker. Crypt tracker allows you to track your portfolios in both BSC or Ethereum networks, you basically put in your wallet address and hit track and it pulls back what’s in your wallet and it shows you everything in there you can hide certain tokens because as we all know we all get things that are honey pots or have been rug poles and they were involved with. So any of those things that are in your wallet you can click the little box and it’ll hide them and take that out of your balance because otherwise sometimes when you don’t do that you get excited because you see things like this where you have lots of money and you don’t really because one of those scam tokens that are around, so you can hide those and it’ll show you your actual balances. We try to design this so that you have access to everything in one spot, so you can click on the name of the token and it’ll take you to BSC scan or Etherscan.io to the database that token and then over to the far right side you can click on charts you can go to a coin chart or you can go to a bug finance chart, dex tools is on Etherscan or the Ethere network side of it shows the number of tokens you hold and the value and total percentage of your portfolio. And one of the things that we’re doing here and we’re going to be integrating with all of the products is ads space, so we’ve got ads space at the top and the bottom. As we talked about before with our rewards program as we’re promoting other tokens we’ll be placing ads in here for them as well during that week of promotion to get them some more exposure to their projects
Part 2: SECURITY
As you mentioned earlier that you had the face of rockpool from one of your past projects before so how do you improve from that and take lessons and can I say maybe equip a much better security system for the Crypts space so that it won’t happen again. Can you share some details about that?
Cliff: Ithink one of the things as we’ve kind of gone along just with going through this whole process and our community getting to really know us. That was part of the reason that Iwent ahead and I dozed and that’s why I’m out in the open. My information is on Linkedin, i’ve got my Linkedin information posted right on our contract in BSCscan. We’ve been very transparent with everything that we’re doing within the community so I think that’s gained us a lot of trust over the whole period of time through everything. When Rock had the problems we didn’t have to airdrop them and bring them in. They were basically lost almost everything they had at the time we brought them in, when we relaunched our v2 contract and we airdropped them to basically give them a chance to recoup their losses so Ithink just in a lot of what we’ve already done we’ve kind of proven to the community that that we’re here we’re here to stay we’re not going anywhere and just the fact that we’ve got all these different products that we’re really bringing together now and Ithink it says a lot for what we’re trying to do here.
Part 3: MARKETING STRATEGY
How have you been coming up with a marketing strategy for your project? How do you guys plan on expanding it maybe globally?
Cliff: I’m gonna be honest with you, that’s always a tough one. We talk about this all the time. We spend lots of money on marketing some things don’t pan out, some things work better than others this is this is a frustration and a challenge that I think a lot of tokens kind of go through is how do you get your name out there and you actually spend money that you get really because what it really comes down to is you need holders in return you want to spend money to do marketing and then in return you want to get more holders I mean that’s what every token project really wants. It’s tough sometimes but as we all know there’s lots of scammers that are out there in crypto today and it’s tough navigating. I can tell you right now I’ve been scammed multiple times myself, thinking that it was something real and it sounded really good but just in the end it didn’t work out, so it’s always a tough thing to try to navigate that and then even when there are ones that are real and they do something they do what they say they’re going to do, they don’t always necessarily show results and that’s the challenging part. So we do spend a lot of money on marketing and development wallets as part of our contract so part of the taxes and the tokenomics does go back to that that we use for digital marketing and development of our products. We’ve done this with you because you guys are more reputable and trying to use you as one way to promote. We’ve used multiple other influencers on Youtube, on Twitter and tried all kinds of different things and we’ll continue to do that. But what we’re trying to do actually with our own platform is give other people a great way to advertise and help get holders into their projects. So part of the whole thing with our rewards program is that we are advertising and it’s kind of like what happens is you’ve seen a lot of these projects out there that offer air drops they do these little airdrops to people you give them so many tokens and you pay them to so much money to do the airdrops and they go out and air drop your token to a bunch of random addresses, well we’ve really with our rewards program we’ve really taken that to a whole different level we’re not really we’re not really just doing an air drop we’re really creating real buy and sell volume for other tokens that we are promoting so what we are doing is with our contract it’s an interchangeable reward so our current token of the week. When we set it we actually buy that token’s reward or that token from them and then we distribute those to our holders of our token. so we’re actually giving you real buy volume. you’re not having to provide us with tokens, we’re doing all of this advertising. We’re actually doing live AMAs with people that are promoting with us to promote their project, so we’re trying to as part of what we’re doing with this we’re creating this whole ecosystem and in within the ecosystem, we’re giving people a safe place to launch your token to promote their token to gain holders kind of the whole nine yards. All the things that we hate that we struggle with trying to do ourselves we’re trying to make a safer place in the crypto sphere for other tokens to be able to come and promote themselves.
What can you say to convince the investors or like new users in the space to invest in your project for the long term and like the whole Crypt for a really good purpose?
Cliff: I mean as I mentioned earlier we’re definitely here for the long haul. We’ve got lots of plans. I mean you’ve heard me kind of saying we’re just right now still scratching the surface of what we’re doing. we’ve got a lot more yet to implement and put in place. With the portfolio tracker we’re already on both binance smart chain and ethereum network we do plan to take a lot of everything that we’re developing and be able to take it across multiple different networks, the market, the NFT marketplace, the portfolio tracker, launch pad, we really want to be able to expand even in the future our past finance smart chain and ethereum and go to other networks like Polygon and ADA and some of the others as we continue to grow. Right now, I think we’re focused on trying to firm up a lot of our software and get more functionality built into our software right now, so we’ll probably maintain the BSC network and Ethereum for the near future. But as we start to grow that out, we’ll start to take that over to some of the other networks as well. Part of the concept behind what we have a lot of our software is free at the base level whether it be the portfolio tracker access obviously to the marketplace you pay just for fermenting. There’ll be some features of the launchpad that will be free to be able to check tokens, some statistics and information about tokens and then there’ll be other parts that if you’re coming in to launch with us and use our services, we will be using for all of those things. Our token is a form of payment, so it is a utility token on top of everything else. so you get the utility token to use to pay for services you’re getting all of the products and the services some of them are free some of the advanced tiers are going to be paid for and then you’re getting rewards on top of that promotions for tokens. It’s really like I said earlier it’s your one-stop shop for all your crypto needs. We’ve really developed a full ecosystem around our token.
Part 4: COMMUNITY Q&A
Recently we witnessed a lot of scams in multiple NFC marketplace which is bad for energy reputation. How do you prevent it from happening in The CryptSpace?
Cliff: Well I had a little more information as to what kind of scams they were seeing. I guess I will say that with our marketplace, the way that we do it currently today is that when you mint an NFT, you’re kind of doing it from the whole process you connect your wallet, you mint it and then you have the ability to list it on our web, on our marketplace. If you want to sell it, or once you can either leave it or if you want you can de-list it and then it goes right into your metamask wallet and then you have the ability to take it, transfer it and do what you want with it. So it’s really under your control the whole time. so it’s not like at any point that we really have your nft and somebody can run away with your NFT. So I think from a security standpoint you maintain ownership and control of your NFT throughout the entire process. hoping that that kind of answers what he was getting at
Currently the cash flow is being distributed according to trend. What are your plans in the meantime to attract more investors interested in $CRYPT token?
Cliff: So again I think a lot of that is going to be based on the launch pad concept and the rewards program concept. One of the things that everybody I think likes is that everybody gets excited about a new launch. When a new token launches everybody wants to jump in and they want to ape into the project. So part of our whole concept is that we’re always going to be surrounded by new launches. We’re going to be working with these token projects helping them launch, giving them a safe place to launch promoting their token and then if you buy our token you get their token. I don’t think I mentioned that earlier but with the rewards program the more crypt that you hold, the more of the reward token that you own or you earn. So it’s based on how much of the reward token you get so how much token and trading we do and then also the amount you hold. So it’s proportional to the amount of crypt that you hold, the more of our token you hold, the more you get on the reward token. But that’s all about just launching these tokens. That always gets people excited and keeps them coming in and because we’re going to be changing every week and we’ll have new tokens every week. That’s one thing that we’re really thinking is going to help bring in new investors all the time and then obviously our products. I mean having the NFT marketplace and having the portfolio tracker and in the future, we’ll have the tax reporting software. It is really like I said earlier. It’s that ecosystem that we’re creating to give everybody one place to go to kind of do everything the whole concept with us. Everything is kind of right at your fingertips, you don’t have to go to 18 different places to do this or to do that. That’s one of the things that I know I struggled with originally before we started this project was that from everything I would do with my crypto portfolio I was going to a bunch of different sites to be able to do everything. It’s a pain so we’re trying to make it easy we’re trying to simplify it we’re trying to bring get give everybody one place to go to to do things make it easy for them
What measures will the crypt space take to safeguard the artist’s copyright?
Mechanic: It’s difficult. It is a difficult question. I mean what we will plan to do on the new NFT marketplace is basically get them to sign up with their own accounts. There’s one particular artist that we’ve got signed up, Caroline, where basically she would have her own space on the marketplace so everything will be obviously copyrighted to hers. All the artwork that she’s uploaded is actually copyrighted. Anyway so people obviously take it from the site or whatever see that’s it’d be illegal anyway but…
Cliff: I don’t think I mean there’s no there’s no way for somebody to just copy it from the website. I mean obviously you could screenshot the preview. I guess something we could look at maybe is watermarking them as they’re on. That might be a possibility. It’s something that maybe we could take a look at if there’s concerns about screenshotting things to copy and free post on the marketplace. But I mean again it goes back to what I said earlier, from the beginning to the end of the process the artist maintains the NFT the whole time so outside of possibly watermarking the screen where it’s displayed. It never would be the exact original that’s possibly something we can look into .
Most of the marketplace at the moment supports multi-chain so in the future how many chains is the Crypt space going to score?
Cliff: Well again as I mentioned earlier I don’t think that’s limitless. I think as we continue to grow we will try to branch out to as many chains as we possibly can. Obviously that will take time and I can’t really give you right now an exact timeline for when we will start branching out to others as I mentioned earlier. Right now our goal is to perfect all of our products or well I say perfect software development’s. It’s always ever changing but at least get to where we feel really comfortable with our initial products before we jump to additional networks like BSC and Ethereum. But the plan is there’s really no end to where we will try to move to as far as other networks are concerned.
Kristen: Do you have any chain that you’re targeting right now first?
Cliff: I mean well I can say me personally I don’t know. Mechanic if you’ve got ones that you’re thinking about. But I know myself, I’m kind of interested with ADA and Polygon
Mechanic: I was gonna say polygon. I like polygon
Kristen: How so do you have anything in mind like maybe three key points that make you guys interested in that?
Cliff: I think I’ve been watching it and I think just watching how it’s progressing and how it’s starting to grow and the popularity of it and more and more projects starting to list on it. I think it’s got a really strong future at this point so obviously as we’re starting to evaluate different networks to go on to, that’s going to be an important part of it, is to look to see obviously where people are kind of migrating to and that’s why I say I don’t really even want to throw out a timeline yet until we get a little further with our our final products because it’s hard to say everybody knows how crypto is. Things change so fast in this market. We’re interested in Polygon and Ada now but months from now it could be totally different than we may. When we’re ready to actually move into another network, the best possible chain and again I think we’re gonna try to conquer as many as we can but obviously we’ll look at which ones make sense to do first, which ones have bigger popularity probably.
Metaverse trend is gradually blossoming and being implemented by many projects. Will it affect the business in general and the crypt space in specific in 2022?
Cliff: I think I think that’s a great concept and it really does have a lot of potential. I mean it’s kind of going. I remember years ago when you first started seeing some of these sci-fi movies come out and you really saw the 3d\D and people walking around in 3D space and doing things. We’re really at the point now today we’re able to do that and I think it could really open up a whole world of changes because I look at it like this is that even as we’re dealing today. You have some of your main platforms so we deal with a lot of Telegram and obviously a lot of Twitter, but you’re meeting and you’re talking with and you’re dealing with people from all over the world. Even though our team is very diverse, we have 26 people on our team and we’re from all over the planet so what would be really cool about it is being able to have that 3D reality. We all talk to each other we struggle with obviously the different time zones and when people can cross you’ll still have that even with a 3D reality but you go from being able to just talk to somebody to now being able to interact with somebody and then taking everything that we’re doing from a software standpoint and instead of it just necessarily being on a web browser or a mobile app now you can actually develop that software into the 3D space. So when you’re inside the 3D space you can actually go in and do and use the functionalities of the software. So I think it’s a really cool concept. Obviously I don’t think I’ve seen anybody that’s actually there yet, but it’s definitely something we probably we will definitely keep our eye on and if things start to head that way, it may be one of those things that we want to try to get in front of and get out early on but I can’t say right now it’s definitely on our roadmap yet we’re still trying to get I think the rest of our product based out but it is something that maybe in the future we’ll keep our eye on that one.
Kristen: because I did some research on the white paper of The CryptSpace and I saw the section which talked about the VR gallery or like the NFT museum, so I thought you guys liked the idea of it already. So I was kind of surprised that you didn’t see this coming.
Cliff: Well we do actually. For the marketplace, we have the concept of being able to go in and just walk around so you have like a gallery where you show the artwork on the walls and things like that and be able to walk around and see them, but I think I take this question a little bit more than just that. I think it’s kind of taking everything to that to that next level with being able to use a software interact with people in the whole virtual reality space and actually it just gave me a great idea for it because our whole our whole concept being that the crypt is with the pyramid so maybe we make our whole a pyramid that we go in and we interact with everybody and you can use our software and you look at your NFTs and so that actually may be a really cool idea.
CONCLUSION
Up to now, The CryptSpace has had outstanding growth with an ever-expanding ecosystem, promising to thrive in the near future.
Disclaimers: Writers’ opinions are solely their own, and do not constitute any financial advice, investment advice, or trading advice.
BSC Army strongly recommends that you do your own research, and seek professional advice from a financial advisor where appropriate.
