Amasa AMA Summary Recap with Shin Chan Community
We held a live AMA with Core Contributors, Will & Scott from Amasa on 22nd September 6:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Serene: Before AMA start, can you introduce yourselves and the team background?
Scott: Sure! My name is Scott and I fell into the wonderful world of crypto in 2017 along with a few close friends. One of those friends was Will here and we spent a lot of time talking about the challenges and opportunities in the space.
Amasa was born out of the shared view between us that anyone on the internet should have the opportunity to generate value from their time online.
My primary function at Amasa is building and managing relationships with investors and project partners.
Will: Hey I’m Will — founder and core contributor at Amasa, I focus on project management and ecosystem development. I also went down the rabbit hole in 2017 and have been focused on solving what I see as a key problem area to aid mass adoption of Web3 and DeFi.
We have another 3 core contributors and 3 other full time contributors on the team
Serene: Any latest/ update news about Amasa you would like to share with our community?😀
Scott: We have HEAPS of news and updates which we are excited to talk with you about! Firstly, please get across our socials:
Telegram community: https://t.me/amasa_community
Telegram announcements: https://t.me/amasa_updates
Twitter: https://twitter.com/amasa_io
Website: https://www.amasa.io/
Medium: https://amasa.medium.com/
We recently announced our dual IDO starting next week and just yesterday we announced the closure of a private fund raising.
https://t.me/moonwithshinchan/1619
https://t.me/moonwithshinchan/1589
AMA Twitter Section Begins:
Q1. Just a few hours ago you at Amasa announced the closing of a $1.5 million funding from Animoca Brands and other heavyweight investors. What exactly will be the use you will make of this money raised? What will be the main aspects of AMASA that will be improved thanks to this?
Scott: We are super excited about this announcement — for anyone who missed it, you can see it here:
We have three focal points right now: marketing, partnerships and, of course, product development.
Primarily funds will be used to hire key team and developer resources, and expand the reach of the project to grow community and partner ecosystem.
Q2. Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
Scott: Sure, so as briefly mentioned, Amasa currently has a core project team of 8 people — 5 core contributors plus 3 additional staff, plus external agencies, advisors and supporters.
The core contributors are:
- Will — founder, project management and ecosystem development.
- Sylvan — content and analysis
- Scott — investor and partner relationships
- Chirag — tech guru
- James — digital marketing and community
We’re also working closely with a number of agencies and our partner projects, and have 5 advisors on board:
- Sameep Singhania, Co-founder Quickswap
- Reza Naeeni, Co-founder and CEO Swash
- Niki Ariyasinghe, Head of Business Development APAC/MENA, Chainlink Labs
- George Samman, Co-founder Geora.io
- Tim Bass, founder and CEO at Block 8
Will: Regarding qualifications on the development side specifically, we have a Technical Lead, Chirag, in our core team and are working with a couple of very reputable blockchain-dedicated dev teams, our partners (we have a technical partnership with Polygon and a number of other projects) and advisors like Tim Bass from Block 8 and Sameep Singhania from Quickswap/Paraswap.
Everyone involved in Amasa shares the vision of what we’re building and this is a key qualification for being part of the team — as we bring community into our processes with governance, this will continue to be an integral part of what drives the project forward!
Q3. Why was the Amasa platform added to Ethereum’s ERC-20 blockchain? Could you tell us why you decided to use blockchain? Is it possible that the Amasa platform will be integrated into other blockchains in the future?
Scott: That’s a great question. It made the most sense for us to start on Ethereum — the number of quality projects and proven track record is undeniable. But we are chain agnostic and absolutely committed to building out the platform to be able to work on any chain to provide as many opportunities as possible for new users to enter this world.
Polygon was an early supporter and partner of Amasa and we are working closely with them to gain the benefit from their layer 2 solution. Ultimately the goal for everyone is cross chain compatibility and while we start with Ethereum and Polygon for L2, we will be integrating other chains where Web3 projects are being widely built and used to earn micro income streams.
Q4. On your medium this phrase piqued my interest ” With micro income streams, you’re no longer just a product. You’re a producer. ” I’m curious about the meaning of this term. What steps do I need to take to become a producer? And also producer of what?
Will: This is one of our favourite phrases. For Web 2 tech giants — you, me, all of us and our data — we are their products; products that have driven their almost immeasurable wealth.
Web3.0 has the potential to allow anyone with a smartphone that is internet-connected — some 4 billion people — to actually generate value for their time online.
So instead of being the product, you will become a producer of value by doing the things you love to do online — browse the web, play games, create and share content to name just a few.
Q5. I read Amasa will have a Dual IDO on Sept 28, could you give us more details about it? Why did you decide to have a DUAL IDO? What do investors need to do if they want to participate? Is there any whitelist they can join in? Once this event is done, what should we expect next?
Scott: Yep! We have our IDO coming up on Chainboost and Trustpad and from September 28 to September 30. We also have a pre-IDO NFT release on Genesis Shards’ Genpad today, September 22 (whitelist for the Genpad closed yesterday).
Those launches are our main focus right now, making sure the community has the information they need and everything goes smoothly. See here for more details:
https://amasa.medium.com/how-to-participate-in-amasas-dual-ido-and-pre-ido-nft-launch-39e9066ffa2c
After that, we will focus on product development of the Amasa app, which we’re aiming to get to market by Q2 2022. And from that point on, we will aim to:
- Expanding micro income, stabilise and DeFi integrations with the Amasa app and generally improving the app
- Growing the user base and community
- Generally making the Amasa experience as great as it can be.
Our plans are to grow our ecosystem and develop the Amasa platform into an integral part of Web3.0 and DeFi worldwide. We really want to help drive adoption and growth of both Web3.0 and DeFi.
Please make sure you follow our socials to keep up with announcements!
- Telegram community: https://t.me/amasa_community
- Telegram announcements: https://t.me/amasa_updates
- Twitter: https://twitter.com/amasa_io
Telegram Live AMA Begins:
Q6. Could you explain why you have decided to name the project “AMASA” ? What is the meaning of “AMASA”? what is the context or the story behind it ?
Scott: It’s a pretty simple story really! When we first started talking about the project, we were thinking a lot about the potential for web 3.0 to help people amass wealth in new ways. It occurred to us that our project would be the “amasser” of this wealth, which we tweaked to Amasa.
Q7. Can You tell about the “Micro Income Stream Providers” that You are working Closely With? Who are your Ideal Customers?
Scott：
Some ways you can generate micro income streams today…
Q8. As i went through the @Amasa_io website,i could find a page for joining the waitlist.
This made me curious to know about the incentives amd benefits for the early adopters of the project.
Can you briefly describe on the benefits of joining the waitlist?
Will: Hope you joined it! The benefit of joining the waitlist first of all is to stay updated with progress, news and events, and it’s the best way to be involved in any kinds of promotions that we may run — and being on the waitlist primarily means you will be among the first to get the chance to use the platform when it is built, either in testing or initial live phase.
Q9. The NFT space is really exploding in popularity right now. What are Amasa’s plans to continue reaching out to NFT based ecosystems?
Will: It is, and we see the most exciting part of NFTs as being the innovation happening around composability, utility and yield generation. The potential for NFTs to deliver micro income streams to people is huge, and there are so many possibilities. Imagine owning part of an NFT which is an advertising space within a game play field or race track in the metaverse, and real world advertising dollars are going into this NFT space — so ownership of this derives the holders an income stream.
Our lead backer Animoca Brands is doing a lot of amazing work in this space, and we currently are expanding our ecosystem of others working on driving innovation in NFT based ecosystems, metaverse projects and similar.
Q10. How will Amasa Give opportunities to users to Amplify their Income from Micro income Streams?
Scott: “Amplify” is the third phase of the Amasa platform where users will have options to increase the value of their combined and stabilised income streams by selecting non custodial DeFi investment integrations. The platform is designed to make it as easy as possible for the everyday user so all of these value-creating functions can be happening in the background of everyday life
Q11. please share us $AMAS tokenomics and public offering metrics
Scott:
Q13. I was looking at your website and there is a part where you have Axie Infinity in the Gaming tab and I would like you to tell us if only blockchain games will be reflected in this section, or else we will have traditional games like League of Legend?
Will: We’re focused on play to earn games as providers of micro income streams — games like Axie Infinity enable people to earn value playing — which traditional games like League of Legends currently do not do. However, it is only a matter of time. These traditional games and the companies that make them will need to evolve to also incorporate play to earn, or be outcompeted as Web3 gaming projects grow and expand. Polygon Studios is working to bring traditional gaming studios across to Web3, and this whole area is shifting to be better for gaming communities which is great
Q14. What other features does amasa plan to integrate in the future? Do you plan to have staking services so that users can earn additional passive income?
Will: Staking within Amasa, and directly accessible through Amasa, is definitely in our plans as part of the Amplify component. After our IDO we will be implementing the option for AMAS holders to stake and earn APY on their tokens in the short term as well.
Q15. From what Platforms do You build the Wealth?
Do You think Amasa will make an impact in developing Countries as well?
Scott: We really see this shift from Web2 to Web3 as an incredible opportunity for anyone connected to the internet via a smartphone to start generating VALUE for their time online. There are approximately 4 billion people in that group, many of those in developing nations. So while we feel users in developed markets can create meaningful wealth at the intersection of Web3.0 and Defi via the Amasa platform, there is absolutely the greatest potential for positive impact in developing countries.
Q16. What is the purpose of Amasa’s partnership with Swash? How does it make it easier for people to access the new data economy? Why did you choose Swash?
Scott: Swash is a real leader in the data ownership space in Web 3.0 — they’re good friends of ours and we’re proud to be partnering with them. Swash’s data union model puts control of personal data back in the hands of users and allows them to monetize it if they wish.
Swash users who choose to monetize their personal data will be able to send their payments from the Swash platform into Amasa to amplify with DeFi protocols.
Q17. What are the benefits for users purchasing the $AMAS management token? What is $AMAS’ contribution to governance and revenue stream?
Will: The AMAS governance token enables holders to have a contribution to the project development, through holding and staking, submitting proposals and voting on proposals that relate to things like new implementations, DeFi portfolio updates, and more. AMAS holders will also be able to propose and vote on other value add features
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