AMA Recap: The Crypto Blade x HundredDAO
Host: Hello HundredDAO team
Welcome to The Crypto Blade Community
CMO Sharon: Hi guys, this is Sharon, CMO for HundredDAO, nice to meet you all.
CEO Federick: Hi, this is Federick, CEO of HundredDAO.
The HundredDAO is the first NFT-based decentralized DAO organization in the world. HundredDAO is a completely open and transparent DAO organization with autonomy and continuous growth.
Host: Let’s start the AMA session, Are you ready?
Federick: Sure, Let’s the go-ahead
First Segment: Introduction:
Host: 1: Will you first briefly introduce HundredDAO? How is it different from other DAO organizations?
Please write “done” once you complete your answer!
Federick: HundredDAO is the first and only NFT-based DAO organization in the world.
For the differences, firstly, from the perspective of manifestation and entry mechanism:
HundredDAO takes the highest-class NFT(SSR- especially Super Rare) of Hundred NFT as the threshold, rather than direct capital or token. Anyway, holding an SSR NFT also does not mean that you have always enjoyed all the rights and interests of HundredDAO. We have a competitive mechanism to be a member of HundredDAO. At last, 100 members will be selected due to their contribution to the organization and they will obtain corresponding rights and interests in the next tenure cycle.
Secondly, the distribution of revenue is different:
HundredDAO is a fully distributed collaborating company. We work together to create wealth and share all the revenue. In the early stage, a series of functions and businesses including Hundred NFT, NFT Market, and Hundred Guild will be launched, and all the profits generated by them will be shared among the members of HundredDAO organization.
In the distribution of profits, HundredDAO will set up two fund pools, one is the reward pool for 100 members’ sharing, and the other is the fund pool for investment. For the funds in the reward pool, the profits will be distributed to the members by a strict mechanism whose purpose is to reward those who really contribute to the organization.
Thirdly, from the perspective of vision:
HundredDAO is not just a DAO organization created for one business sector or a single objective. Instead, we are looking for a better rule and mechanism, which will build a system with effective cooperation and continuous growth, so we can serve better for NFT fields including games, and art creation.
To sum up, we can see that HundredDAO is more like a distributed company structure system, organizing a group of talents with consensus to constantly create higher value for HundredDAO. Therefore, HundredDAO will flourish and evolve naturally by itself.
Host: 2: I heard you repeatedly mention “Hundred NFT “as the threshold of HundredDAO, instead of a token. May I know Why this idea came to you and how you think it’s wonderful?
Federick: Yes, our R&D team is originally a distributed organization. When our founder proposed this idea, we immediately reached a consensus and decided to promote it, which is developed into the current form of HundredDAO.
So, the next question is, how we can find our 100 DAO members and raise the start-up capital?
The first thing that came into our minds is NFT. And finally, we decided our organization would be carried out by NFT but not token in the consideration of the following reasons:
As I mentioned earlier, our DAO hopes to select members with consensus among the participants, so these members should not be measured only by the amount of money they invest. In the real centralized corporation system, the investors will make final decisions and enjoy the most profits according to their investment amount. It’s kind of unfair for those who really make a contribution. Especially in the blockchain world, where we are aiming to pursuit complete fairness and decentralization, if we still talk about the size of rights and interests in terms of the amount of money when implementing DAO here, how ironic it will be!
Therefore, we choose NFT as the threshold while raising funds. We will give a Growth value for each NFT, which indicates the contribution to the platform and how much work the members do. Through the level-up and cultivating process of Hundred NFT, the value will help the organization to screen truly valuable partners. You know, more pay for more work.
Host: 3: NFT has a level-up and cultivating process? It sounds interesting! It is different from what we traditionally suppose for an NFT. So how can NFT change?
Federick: FYes, NFT can also change.
As a non-fungible token, we know NFT is special and unique, but that’s too boring. Therefore, we don’t think NFT should always stay the same, NFT should also have a chance to evolve along with the organization.
The Growth value of Hundred NFT enables the flexibility of the members of HundredDAO. Any technological innovation comes from the thinking of the actual form in life. We are more convinced that HundredDAO can grow into an excellent organization in this way.
Host: 4: Well, I know DAO is an organizational structure, and you mentioned your product layout just now. Can you explain it in detail?
Federick: Just talked about our organization structure and the operation mechanism. Now let me introduce you to our business sectors. The initial planning of our business is divided into 4 sectors: Hundred NFT, NFT market, Hundred Guild, and Hundred Funds.
As we have just mentioned, Hundred NFT is a functional and governance NFT issued by HundredDAO. It is not only a practical NFT for platform functions but also an identity and equity certificate of HundredDAO organization. We set up NFT into three levels: R, SR, SSR(the rarest). Users holding SSR NFT will be qualified to enter the DAO organization. R and SR NFT will be inherited a Growth value and a Lucky number. They can be leveled up to SSR NFT in multiple ways.
Hundred Market: It is a secondary trading market for NFT. It can be used to freely trade both Hundred NFT and other NFTs issued by our partners.
Hundred Guild will be one of our main businesses. It is a blockchain game integration platform, providing players with a unified game gateway and a strong service system so that players can really enjoy a ” play to earn” experience.
Hundred Funds use smart contracts to manage the funds of HundredDAO, so as to truly make the funds transparent and credible.
Host: 5: Blockchain game is a hot topic recently, and it is also regarded as the earliest form of the metaverse. I am curious about how does your Hundred Guild works?
Federick: Before answering this question, I’d like to share with you the characteristics of present blockchain games.
1) High cost
As more and more blockchain games are developed, the choice for users and the cost of games are getting higher and higher. When you find a blockchain game, you need to hold the corresponding NFT to participate in the game, as well as some game tokens as a value circulation in the game. People need to purchase a variety of NFTs, making them suffer from the high cost of both funds and management.
2) Holding risk
The NFT market changes fast. People buy NFT to enter the game, but after a period of time, they may face the situation that the price of NFT falls below the launch price. Sometimes, as the game progresses, more and more NFTs are minted, causing their price keeps going down or the NFTs cannot be sold.
Taking the above problems into consideration, Hundred Guild has designed a sophisticated mechanic for these pain points in blockchain games. The guild will build a dedicated game NFT staking-rental sector. Users simply need to hold Hundred NFTs as stakes to get a variety of game NFTs in the guild and play without worrying about the value risks of NFTs. The guild will set up a dedicated fund pool and risk control system to stabilize the value of NFT and ensure that players can truly PLAY TO EARN.
2nd Segment: Questions from the Twitter announcement:
6: One of the greatest aspects of project success is community support. And most of the big projects have programs that interact with their users. Do you have any specific plans to attract & expand your community and improve the user experience?
Question by SubahanAllah09
Sharon: it’s quite right. Great projects need a strong community to support and they are also aiming to serve as many users as they can. For hundredDAO, although we only have 100 seats for DAO members, everyone else can also enjoy our service. Now we will adopt 3 ways to attract and expand our community, and improve our user experience continuously:
1)Now our airdrop event is ongoing and everyone can join, lucky users can directly be one of our DAO members and others also can level up by the ways we mentioned before.
2)We will announce cooperation with several reputational games in the coming month, their users can also join our guild and use our lending service to make profits even they don’t have our Hundred NFT.
3)Our Hundred Market will also be launched soon, it will be an important part of our ecosystem, then users can exchange NFT on our platform with a very low transaction fee.
When Hundred Fund launches, we will announce more ways of interacting with our community, like voting, staking, proposing partners, etc, and if you have any good ideas, we are also open to discussing.
7: The staking program is very important for any project, Can I stake your token? Do you have any plan of starting a staking program?
Question by SubahanAllah09
Sharon: good question.
About staking, we provide 2 ways at the present platform:
Firstly, in our Hundred Guild, we will collaborate with other game studios and if users have Hundred NFT, they can easily exchange for their original token and play the game. And users with the original token of the game can also stake (for lending) them on our platform for profits.
Secondly, Hundred Fund is an important part of HundredDAO, which determines the profits of 100 members. They can propose projects in which the fund can invest to maximize profits. DAO members need to stake their NFTs in HundredDAO platform to get the profits.
8: Who are the 10000 people holding these nfts? Does that mean now one else can buy in? What are the requirements for becoming a part of?
Sharon: Our total issuance of Hundred NFT is 10000, and 500 of it will be used in this airdrop event. The remaining NFTs will be distributed in the form of white list discount sales and public sales. Please pay attention to our recent announcement. All users joining in the airdrop event will automatically in our white list.
Hundred NFT has 3 levels, R(Rare), SR(Super Rare), and SSR(Specially Super Rare. Only users with SSR NFT are eligible for the rights and interests of Dao organization. The initial level is randomly assigned at the beginning of the period, and the rest needs to be obtained through composition and level-up.
3rd Segment: Community round
Q1: Hi HundredDAO team, can I know why are you called HundredDAO? Is there any special meaning?
Question by yhl37
Federick: This is a very good and interesting question. We will answer this question first.
First of all, the name of HundredDAO really reflects the essence of our project. The whole project is a DAO organization and will be established by 100 core members who all dedicate to it.
DAO members come from all over the world. They finally get together to create such a meaningful project. Why 100? We are not looking for everyone, but we need like-minded representatives to promote the HundredDAO and make it grow healthily.
This is also our product concept, one in a hundred, achieving 100% career.
Q2: What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
Question by clementina_gann
Sharon: Here I’d like to share our vision: We hope that by establishing HundredDAO, we can find members with common goals to jointly build the community, and share all the profits we make. This will also help the industry growth. We hope to lower the barriers to enter the NFT market, fund management and chain games, allowing more people to participate in with a low-cost and entertaining way. This is a brand new attempt. We get rid of the constraints of traditional companies in geography and profit distribution, and provide a brand new paradigm for the practice of DAO.
For the upcoming updates, 1) we will We will announce cooperation with several reputational games in the coming month 2) we will launch our Hundred Market and Hundred Fund in the time showed on our roadmap.
Q3: How we use level 2 and level 3 NFTs? And what are the specific differences between them?
Question by pricehsu
Federick: First, as the threshold of high-level functions of the platform, level 2（R） and level 3（SR） NFTs can enjoy many privileged services of HundredDAO platform, which will be announced step by step with the progress of HundredDAO platform.
Furthermore, HundredDAO provides several ways for R and SR NFT to be leveled up to SSR. Having SSR NFT is the only way to join the DAO organization.
NFTs can be leveled up to SSR by the ways below:
Natural growth (by Growth value);
Merging (by Lucky number);
On the basis of ensuring fairness, we add more playability and fun in the level up process. The difficulty and probability for R and SR NFT to be SSR NFT is different.
Q4: Dao is one of the hottest topics at present. How you positioned your HundredDAO?
Question by liyong998
Sharon: yes, every project will definitely be affected by the market. In the opportunity for a variety of Dao organizations entering the market, HundredDAO is based on NFT which is from a distinctive perspective. In addition, adhering to the representative system, Hundred Dao shares all interests and authorities. In order to ensure the quality of its core members, also the flexibility, HundredDAO will make the real contributors be the actual owner.
Q5: Except for selling directly in the secondary market, do you provide other ways to protect NFTs’ value?
Question by MRLSSong
Federick: To protect the value of Hundred NFT, HundredDAO endows Hundred NFT with two dimensional characteristics: function and governance. The most important way is, we will take out part of the funds in the revenue pool and set up a special fund to buy back Hundred NFT, providing a fixed exit mechanism. Then Hundred NFT holders will have more choice in deciding how to do with the NFT, and by this way, HundredDAO protects everyone’s interests to the greatest extent.
Host: Thank you so much @liontome, @yan_Metaverse for the very detailed answers!
I would recommend to our community please join HundredDAO social media channels for more updates