We thought we would use today's blog commentary to answer some standard AMA questions. Questions #1 According to the roadmap, what are your most important next priorities? Does your team have enough funds and a
strong community to achieve those milestones? Answer Let me answer those questions from last to first. We are an extremely well collateralised company/operation, we have assets valued in excess of US$16bn, and very strong partners. We have "gifted" our utility token a ruby with an appraised value of US$290m - I think it's safe to say that no other crypto project in history has shown a commitment anywhere close to that. That's reak skin in the game. We are proud to say our utility token demonstrates what we are going to be doing, it is a clear corroboration of the process we are using to digitalise real-world luxury collectibles, and convey their ownership and value to the virtual world. EVERYTHING is verifiable (via the website and/or the WP appendix). Remember this is not the usual project that promises "if we build it, they will come " because we are supremely confident in the project and the process to put our substantial assets where are mouth is to start the evolution of (F-NFT) platform and new markets we are building. We think our growing community sees our responsibility, professionalism, and adherence to the project. We are methodical and transparent in our process and communication to ensure people have the necessary security and trust. We certainly look forward to increasing our interactions with our growing community as we pass from the utility token issuance to developing the F-NFT project and all the groundbreaking excitement and innovation it heralds.
Marketing is an important part of this process, and we are committing more funds to continue disseminating our information and detailing our journey. There will be some positive landmark announcements post token listing, rewards, and regular updates on the F-NFT platform build-out. We have a strategy to grow our price and MC in the weeks and months and we will be rewarding our holders along the way. These are very exciting times.
Questions #2 "Can I get passive income from your project? Are there staking options available for this? What are the benefits of holding FIX00 token long term" Answer As new communities join our growing family, we will focus our attention on driving our token price whilst hosting fun competitions that offer incredible prizes and utility for holders.
We may look at staking options in the future but our initial priority will be key announcements that differentiate our value proposition from any other in the crypto-verse. In answer to what are the benefits of holding FIX00 - the short answer is it's your key to a unique store of value (a collectible), and to explain we offer up this article: Building Balanced Exposure To The Blockchain Economy (https://www.zerohedge.com/crypto/building-balanced-exposure-blockchain-economy) Here is an outtake from the article: "The Three Key Trends of Blockchain Adoption By cutting out the need for a centralized middleman that facilitates transactions, blockchains can provide more efficient systems to power three key trends of the fintech future:
• Digital hard money and assets
• Decentralized finance (DeFi)
• Digital goods and collectibles
As the first cryptocurrency and deflationary monetary asset, Bitcoin is the ambassador for digital hard money. By having a fixed supply of 21 million bitcoin set in code and a decentralized network powering transactions on the network, Bitcoin provides anyone access to a deflationary digital asset that they can transfer in minutes without having to trust centralized intermediaries. While Bitcoin pioneered the blockchain revolution over the past decade, further functionality built on blockchain technology is enabling digital goods and collectibles with non-fungible tokens (NFTs) along with more equitable and trustless financial systems through decentralized finance." We would, humbly, argue that our forthcoming F-NFTs (whose framework, product, and viability are clearly demonstrated and verifiable in our FIX00 Utility Token) are extraordinary and unique, on many levels, but with regard to the above because they tick 2 of the 3 key trends. If that isn't a value proposition we're not sure what is. (we'll ignore - for today - the ability this methodology has to disrupt existing luxury based auction markets making them public, transparent and efficient - opening up a smorgasbord of financialisation opportunities). To get back on point and to explain why we tick 2 of the 3 key trends. 1) F-NFT's will be a digitalised version of a valuable collectible (Ruby or Rubys - remember we have real-world assets with an assessed value of over US$16bn), making them a deflationary digital asset and a legitimately asset-backed one. A clear and proven store of value in the real world and now in the digital world. Additionally, as our FIX00 UT example demonstrates through fractionalisation we can offer 9.7 billion in fixed supply and at values attainable for ALL. So while our F-NFTs are not cryptocurrency, they have a monetary value (both in the real and crypto worlds), are asset-backed and have the wide base to make them much more a utility in terms of providing a monetary base asset. 2) Obviously, and as already covered in point 1, the forthcoming F-NFTs will tick the digital good/NFT/collectible box too.
#3 Question "What is the main vision and goal of your project and who are your targeted customers?" Answer FIX00 is digitalising real-world assets (gems to start but other luxury items), and then fractionalising them - so F-NFTs. We think such a digital formula presents the best way to disrupt large luxury auction-based markets that have remained unchanged for centuries. The finacialisation angles in such new and open markets could unlock are simply unparalleled. Our digitalisation of gems (F-NFTs), with ownership and benefits, will allow ordinary people to gain exposure to these new assets and stores of value that have until now been the preserve of the wealthy. Power to the people!
#4 Question What should I do to help ETHSHIBA grow and become more popular?" Answer We know a wall of new community holders is coming. We are breaking into new communities every day, growing in numbers and you see how passionate and active our community is becoming. Our special family and community are overwhelmingly positive in their outlook and stand for our common goals. We will be ramping up marketing, listing on multiple CEX’s, gaining support from large influencers, opening our digital collectibles F-NFT platform with huge utility. We offer a unique value proposition and outstanding value. We are, together, digitally disrupting the luxury auction-based markets that turnover close to a trillion dollars per annum. This is a new dawn in the development of the crypto-verse and we have a story you, as our community, can feel proud of telling others. "Come one, come all you're just in time" Our products, our markets, our way! #5 Question "Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users to invest in your platform in the long-term?" Answer Honestly, the story sells itself, the commitment shown in the utility token alone should give everyone the necessary confidence and trust in the project. We are transparent in every way, plus we have nothing to hide and much to share. So let me run you through the basics once again: The project's purpose is to use crypto technology to improve/disrupt the existing multi-billion dollar luxury auction-based markets that cover not only gems but fine art, jewelry, and antiques. Entering or reinventing these markets has been the equivalent of seeking the holy grail for players in the industry and most certainly the financial markets. However, just like the hunt for the grail, it has been a fruitless endeavour. We believe we have the necessary assets and technological methodology to change that. Our goal (within the next few months) is to offer an alternative fully functional, deep, transparent, low cost, and open market instead. How? Firstly, as eBay has shown, auctions are not attractive to the populace, in general, they prefer to receive or purchase something at a fixed, deep discount. This will be our pricing policy/guarantee. You have to leave plenty of money on the table to make a vibrant new market, and that is the bigger goal for us, so we are happy with that value proposition. We are investing and committing our own gems, with an appraised value of US$16bn, to be sold at deeply discounted fixed prices in these new crypto markets. We are more than confident and happy to put our money where our mouth is. Methodology In order to digitalise a real-world asset, you have to lock it away forever securely, insure it and guarantee it can never be sold. The asset can then be reconstituted in the virtual world in the form of an NFT - an asset that can not only be bought and sold but legally owned without regulatory interference in crypto markets. The game-changer is then fractionalising the asset - creating F-NFTs from the one asset. In the same way jewellery is refined from a gemstone (all of which occurs in an unregulated market). Allowing for cheaper and therefore wider access to an asset that has been only available to the super-wealthy until now. Utility Token (UT) We are issuing a utility token to demonstrate, showcase and introduce the crypto-verse to our methodology. A 5.4 kg ruby of 16,200 carats, with an assessed value of US$290m is held in a secure depository in Newport Beach California (Citibank vault to be precise), it is fully insured for its assessed value, and held by FIX00 the company who's Articles of Association details the fact the gem can never be sold. The expenses from insurance to depository costs will be covered by FIX00 in perpetuity. Future offerings in NFT format will likely have a legally binding trust structure to ensure no sale can happen, and again all costs will be borne by FIX00. As an example, the UT will be offered at 1/3 the appraised valuation (US$97m) and an affordable fixed price of 0.01 per token. Leaving plenty of meat on the bone for crypto investors to enjoy (hopefully ensuring a vibrant market as a result). Regulatory gymnastics FIX00 utility token is not asset-backed, by design and regulatory requirements, however, the ruby is clearly tied to the token in perpetuity, and as specified clearly in our WP, it is being used to exhibit how we will offer F-NFTs from our forthcoming platform. The UT will also be used to give access to our forthcoming platform and pay for some of its services - as per the UT norm and requirement (from a regulatory standpoint) Outlook The forthcoming platform will be a boon to both buyers, sellers, and indeed lenders, bringing them closer together and offering a realistic manner with which to assess demand and value at any given time. Importantly this will be achieved through a transparent and reliable B2C and C2C platform, offering both depth, and disintermediation. There is plenty of value left to be unlocked in the UT and likewise given our discounting policy, so too with forthcoming F-NFTs This is a gamechanger not just for the closed auction-based luxury markets, but for investors previously excluded from these markets and unique products (they are natural and portable hedges/stores of value against inflation, crisis, financial repression, etc) While the UT has to be deemed not asset-backed (or it would be a security token and of no use to the crypto-verse since they are only traded on regulated markets and sparsely traded as a result) - it carries no voting or ownership rights - it's nevertheless very clearly an asset tied to the token. The ultimate irony is you can buy collectibles in unregulated real-world markets using cryptocurrencies BUT you cannot buy them in crypto markets because that would be classified as a security to the SEC! Risk mitigation care of our offering 1) High costs and fees are a real financial onus when retaining a ruby of this size, insurance being a major one and the other being the annual depository fees. Neither is applicable to buyers of our token OR in our forthcoming NFT issuance. Simply put, we FIX00, wear those expenses in perpetuity for you. 2) Counterfeits and frauds - The ruby ownership and existence can be verified at any time using the links on our website and will be independently valued and audited annually. 3) Security & breakage - By securing the asset in a depository with full insurance in perpetuity, at our and not your expense, and where all of this is verifiable clearly negatives this cost and risk. 4) Lack of liquidity, market & volatility. Selling collectibles can be challenging because it’s often difficult to find a buyer. As above we defeat that concern by ensuring the underlying asset can never be sold in real-world markets. In order to digitalise a real-world asset it has to be locked away securely forever - it can never be sold - as such it cannot damage, say through forced sale or break-up for jewelry purposes, the real-world equilibrium of demand and supply and thus price stability. By bringing the collectible into the digital world we IMPROVE the inadequate auction-based markets by fractionalising the asset in the form of NFTs and offering them at discounted, affordable prices. This allows more people to participate and diversify ownership of these assets as never before. That brings the opportunity for the first time ever in such assets to create a functioning, deep, market - one that can reflect the value, through the transparency of an open market system for both purchasers and asset sellers. A quantum leap forward from current real-world practises of the opaque closed-end markets that cater only to the elite, but actually, work against them given the ever-escalating costs and the complete lack of transparency. Our crypto-based solution is an immeasurable improvement of existing practises, with open not closed markets, and access to all - take that imperfect real world! We have absolute faith in the crypto-verse being able to manage and value assets via its own means and markets. Our products, our markets, our way!
#6 Question "What strategies have the team put in place to have very solid support for the price FIX00 or how do you prevent early investors from selling their tokens and see reasons why they have to hold for the long term?" Rather than give another lengthy response, I would simply say the value proposition, the industry-changing opportunity, and the clear store of value/collectible (finite issuance) argument. All issues we have touched on above, so we need not repeat again. What we will tease, in the words of Bachman–Turner Overdrive, "you ain't see nothing yet"! Watch for announcements post listing ...... #7 Question "With so many projects being rug pulls and exit scams happening nowadays. What would you offer to the users of your platform to earn their trust and how would it make you different from others projects alike?" Answer We are proud to say our utility token demonstrates what we are going to be doing, it is a clear corroboration of the process we are using to digitalise real-world luxury collectibles, and convey their ownership and value to the virtual world. We have nothing to hide, our companies are set up in the UK, not in low jurisdiction countries/islands, and we have much to share - transparency is thus vital to us and our community. Most importantly we have effectively gifted a Ruby with an appraised value of US$290m to the process, it is tied in perpetuity to the utility token, and importantly should be proof positive of our full commitment to this project. We can safely say we have more skin in the game than any other project in the crypto-verse. From the collectible to the appraisal to how the gem is held - EVERYTHING is verifiable (via the website and/or the WP appendix). Given this colossal commitment and complete transparency with regard to our process to digitalise collectibles, we hope there are no doubts that we are in this for the long haul and dedicated to creating our F-NFT platform for future offerings. Remember this is not a case of "if you build it, they will come " but rather we are not only building our F-NFT platform but we are also supremely confident in our vision and adherence to the project that will be putting our assets (with an appraised value of US$16bn) where are mouth is to start the evolution of platform and new markets. We think our growing community sees our responsibility and obligation and derives the necessary security and trust in the project. We certainly look forward to increasing our interactions as we pass from the utility token issuance to developing the F-NFT project and all the groundbreaking excitement and innovation it heralds. A fllippant tweet might best sum this up: Back to the Cointelegraph article:
Moving forward, projects will not only have a roadmap, they’re also going to have utility beyond the artwork. We’re already starting to see NFTs with better capabilities than the first generations. For instance, the concept of how NFTs fit into the metaverse has caught on. They’re going to be more than a profile picture, which a lot of NFT projects have been." Again we agree with that premise and partially answered it in a blog commentary: "F-NFT's will be a digitalised version of a valuable collectible (Ruby or Rubys - remember we have real-world assets with an assessed value of over US$16bn), making them a deflationary digital asset and a legitimately asset-backed one. A clear and proven store of value in the real world and now in the digital world. Additionally, as our FIX00 UT example demonstrates through fractionalisation we can offer 9.7 billion in fixed supply and at values attainable for ALL. So while our F-NFTs are not a cryptocurrency, they have a monetary value (both in the real and crypto worlds), are asset-backed, and have the wide base to make them much more a utility in terms of providing a monetary base asset. The other angle: "As we have belaboured in our WP, website and blogs one of our major goals is to solve the problem of breaking down centuries-old business practises, grossly inefficient auction-based markets/cartels catering to the few. This can only be done, as it has throughout history, by employing the time-honored solution that is fractionalisation (that's all a share of a company is in actuality). # Question 8 "A strong community not only brings interesting ideas to the project but also attracts larger partners. So how does your project plan to build its community? And is there a plan to recruit people with Blockchain experience to the team?" Answer We could not agree more our community is indeed full of great ideas and we love hearing what they think as our plans literally develop in front of them. We actively seek their advice and interplay with our core ideas. It's truly refreshing and insightful, and we are honoured by the number of people who contribute and share our dream. We will continue to develop our new platform and grow its offering, as we keep saying this truly is a gamechanger for both real-world and virtual worlds. The utilities both on- and off-chain are enticing, as are the levels of innovation and new products coming. All these developments and growth will help continue to grow our community and attract potential partners. For now, we are very happy steering the ship with our community and working in parallel with our project partners - of course, any true value-adding proposition for the project and future business expansion that is presented to us will be looked at and assessed on its own merits. For a short overview of the FIX00 project 🙂 please use this link: The Start of something new
If you still have questions, we are happy to have you join us. We take great pride in our company and the revolutionary change it heralds. Please feel free to contact us if you need further information or have further questions:: Contact Us
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