Real Collection AMA Summary Recap with Shin Chan Community
We held a live AMA with Senior Manager/Marketing Team, Summer Cho from Real Collection on 8th December 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
JH | ShinChan: Good Evening everyone, Let’s Welcome Senior Manager/Marketing Team, Summer Cho from Real Collection for joining the ama today🥳🥳🥳
Cho Summer: Hello everyone. I’m honored to be invited here, one of the most thriving crypto community.
JH | ShinChan: Before the ama start, could you please introduce yourself and team background to our community?
Cho Summer: Sure. Greetings to Shin Chain community!
I implemented global marketing for a long time at a global steel company. It was the year 2017 I entered the blockchain industry. At first, I joined BOSAGORA project where I made introduction materials for the company and implemented various marketing activities including media promotion and social media marketing.
Then it was the year 2021 I joined LEDGIS and become in charge of global marketing. The fact that LEDGIS has high technology evidenced by partnership with leading conglemerates in Korea and cooperation with Korean government agencies, led me here.
JH | ShinChan: Could you please tell us about Real Collection in short, and Is there anything from Real Collection would like to share with us?
Cho Summer: Definitely. RealCollection is an NFT marketplace where you can trade curated art contents such as pop art and graffiti works in New York’s East Village. You can find contents of legendary artists such as Jean Michel Basquiat and Keith Haring exclusively sold here.
RealCollection sells only works screened by art director and is concentrating on securing excellent IP(Intellectual Property) by restoring lost works of renowned artists among others.
Based on LEDGIS blockchain, it provides various digital management for the original such as loss prevention, copyright protection. LEDGIS’s proprietary DID(Decentralized Identity) and IDH, decentralized data encryption storage/sharing technology, is appled to ensure transparency and reliability of transactions allowing SSI(Self Sovereign Identity).
Twitter Section Begins:
Q1: I noticed that your cashback event is still open, in order to qualify, users must purchase NFT. Is there a minimum amount that must be spent to receive this cashback? Will all users get this chance or will you choose the winner based on factor/random?
Cho Summer: There is no minimum price that users should spend when buying NFT in order to be eligible in payback event. Regardless of the price, everyone who has registered LEDGIS wallet address in the whitelist and successfully made a bid in RealCollection can get payback in LED coins which will worth 1% of the artwork price.
To register in whitelist visit below
https://han.gl/dYhwf
Q2: Some NFTs are very rich in artistic value, however, how can you ensure that the NFTs showcased on your platform can meet customer demands and “needs”? Can you explain in detail how you can evaluate NFT and connect artists with subscribers?
Cho Summer: We want to satisfy the needs of consumers who are looking for valuable and rare content by supplying competitive NFT artwork. This year, the works of famous first-generation pop art and graffiti artists are sold, and in 2022, the lost works of famous artists will be restored and NFTized. Our goal is to secure 200~300 artworks in total.
In particular, Chinese graffiti artists are recruited with help of renowned curator named Lori Manchin, and when restoring the lost works of famous artists, Rick Froll, DAZE, KIKI, foundations of Keith Haring and Basquiat will be cooperating with us. It is expected to give big impact on the art field because NFT becomes the only one original.
Regarding screening, artists in the relevant field form the committee to evaluate artworks. To become a curator, one must be a registered artist or agent, and the number of exhibitions, quality of past work, etc,. becomes the criteria of evaluation. Only artists who have passed our rigorous screening can meet with clients.
Q3: The truth is that there are already many NFT platforms to buy and sell art. How does Real Collection plan to stand out? What is your vision with this project and what motivated you to create it? How many artworks have been sold so far?
Cho Summer: RealCollection has the following competitive advantages.
(1) Excellent IP(Intellectual Property)
Excellent IP, including contents of lost works by Jean-Michel Basquiat and Keith Haring, legendary artists of New York’s East Village Art, will be provided exclusively. Famous artists such as Jane Dixon, Rick Froll, and James Romberger increases the potential. We guarantee unparalleled quality among countless NFT platforms.
(2) Superior original management
Built on LEDGIS blockchain, it provides superior management for the original such as loss prevention, copyright protection. When an artist registers artwork, the digital original is stored in IDH, our unique distributed data sharing and storage system. All transaction history is recorded in blockchain and IDH, only accessible by the DID owner, ensure complete prevention from theft and hacking.
(3) Expansion to Metaverse
Some contents will be processed into ‘Meta Original Version’, a 3D VR animation to be displayed on the metaverse. Rather than simply putting image or video in display on the metaverse, we will create a new metaverse space when one enters the artwork. It is accessible based on DID, so only people allowed by the owner are invited to the space.
Our vision is to provide The Highest, The Rarest, and The Safest NFT marketplace based on above competitive advantages.
No work has been sold yet as website was launched just yesterday and biddings are underway.
Q4: RealCollection collects 15% of selling price of NFTs as form of commission. How will then RealCollection plan use these accumulated fees. Can you please explain and breakdown your revenue generation and business model?
Cho Summer: When a sale is made, excluding fees for processing payment, 70% of the sale price goes to the artist, whereas the platform gets 30%. If agency is involved, 85% goes to artist and agency, while the platform takes 15%. The profits generated are mainly used to cover operating expenses but also used for securing valuable IPs such as restored lost works, holding offline exhibitions and programs for nurturing up-and-coming artists.
Q5: I noticed that Real Collection is based in Seoul, Korea, I would like to know then what is your strategy and expansion plan? Do you plan to expand the project to the rest of the Asian market or do you have a global approach? What are your goals for the next year?
Cho Summer: All countries where Paypal is available and LED coins can be purchased are being serviced. In the near future, we plan to support credit card payment to increase user accessibility. In Korean market, payment will be possible with local PG companies, and in Chinese market, Alipay and WeChat pay may be adopted.
We will carry out promotions using editions in NFT communities and influencers all around the world. In addition, we are working with curators in China, America, Europe, etc. to bring the fandom of popular local artists to RealCollection. We also plan to sell works in famous art auctions like Philips and will participate in the Venice Biennale, Italy.
Our goal for the next year is to be serviced globally through above marketing activities.
Telegram Live AMA Begins:
Q6: You say that works that can be purchased with $DOLLAR payments will be made via PayPal, what about those who can’t access PayPal? Is there an alternative to this payment?
Cho Summer: NFTs in RealCollection can be purchased in dollar through Paypal and LED. LED is listed in BitMart and Gopax exchange. Since transactions in LED poses many advantages, we will increase artworks sold in LED and induce people to transact in LED in various methods. In addition, credit card payment will become available soon which will greatly increase accessibility and convenience of users.
Q7: LEDGIS is based on which network, and what is the connection among Ledgis and Regis? So what is the good feature with Regis?
As you mentioned, you’ve already started working in Bosagora. What is the profile of your program’s team, and are they open to the public? Is your entire teamwork expertise similar to yours?
Cho Summer: RealCollection is based on LEDGIS blockchain. RealCollection is one of the DApps of LEDGIS.
The following can be proposed as advantages of LEDGIS.
(1) Self-Sovereign Identity(SSI) Service Platform
It provides key protocol economy in a self-sovereign manner by preventing data monopoly by big tech companies and give back data control to individuals. With DID and IDH technology, individuals will have complete control over their information, and reveal data only through approval by themselves adjusting degree of revelation according to the price paid.
(2) DID & efficient private key management
Our DID accredited as international standard by the W3C and IDH(Identity Data Hub), a decentralized data encryption storage/sharing solution, and encryption system using a private key and a symmetric key extracted from the private key, guarantee and keep sensitive information safe.
(3) Large file protection & fast transaction
IPFS technology distributes and shares data in multiple pieces and the fast transaction speed of 3,000 TPS certified by KOLAS enable efficient sharing of all types of files, including audio sources, videos and documents.
(4) Coin economy that vitalizes the ecosystem
By adopting DPoSS consensus algorithm, DApps that provide high quality services based on voting results and service usage become block generators, and coin holders can also receive payback, contribution rewards, and voting rewards depending on their ecosystem contribution.
Yes, our project team consists of experts in crypto field. We disclose our identity in our homepage to convince our holders to trust in possibility of LEDGIS.
Q8: Real collection is a platform destined to offer a trade service to digital paintings, but apart of paintings, Real collection can support other type of digital assets? Like 3D NFTs, movies NFTs, music NFTs?
Cho Summer: Currently, physical art works are being sold in the form of digital originals and secondary works with motion graphics. In case of video works, they can be viewed and included in the same way as secondary works, but music is not yet considered.
Q9: Through the LEDGIS platform’s Decentralized Identifier (DID) and Identity Data Hub (IDH) technologies, real collections provide functionality to manage native NFTs to protect copyright and stabilize utilization. What role does DID and IDH technologies play in copyright protection?
Cho Summer: LEDGIS’s DID technology has been recognized as an international standard by W3C, and IDH, a decentralized data encryption storage/sharing solution based on this DID, encrypts and transmits data directly from the user’s terminal, and stores large amounts of data across Secure DB and IFPS in distributed way. Data stored in IDH can only be accessed by DID.
By adopting these technologies to RealCollection, when artists register artwork, DID is paired and the original, secondary work is stored in our unique decentralized data sharing/storage system IDH in distributed way.
All transaction history is recorded in blockchain and only the DID owner can access the IDH. Since data is stored in distributed way, it is completly safe from theft and hacking.
Q10: Projects have issues with UI/UX. What is your plan to improve engagement with new users unfamiliar with crypto? Do you consider community feedback?
Cho Summer: We will constantly upgrade our platform by reflecting users’ feedback given in our community channels. RealCollection manages Discord, Twitter, Instagram, Pinterest channels, and user can propose various opinion in our Discord channel. We are looking forward to your participation and promise that we will appreciate and listen carefully to your opinion.
Q11:
1) Telegram Group
2) YouTube channel
3) Tiktok Channel
4.) Website☑️
5) Twitter☑️👎
For this project? From where we can learn Something? Please share with us link.?
Cho Summer: https://linktr.ee/officialrealcollection
Q12: I see RealCollection Gallery will prioritize collections from premium artists, who are considered the best in the region. Can you highlight the procedure used to register artwork in your gallery? Does this mean that the artwork of talented and up-and-coming creators who are not yet well-known cannot be promoted on RealCollection, because your priority is high-profile premium artists? Also, you said all your art would have a rarity and be nowhere to be found. Will you acquire the artist’s patents and IP licenses to stop them from publishing their creations elsewhere or how do you ensure that any artwork you curate will not be duplicated on other platforms?
Cho Summer: To register as a creator in RealCollection, you go to your profile and click ‘apply for creator’ where you are required to submit busincess license, information about your artwork and past performances. This means that up-and-coming creators can also apply to sell their artworks in RealCollection although we prioritize artworks of renowned artists sourced by us, ourself. We entered contract directly with artists who sell their artworks in our platform so there is no issue in validity of secured IP. Our LEDGIS blockchain solution on which RealCollection is established ensure that artwork cannot be duplicated. NFT minted through LEDGIS blockchain is free from issue of theft or hacking through DID and IDH, decentralized data encryption storage/sharing system, technologies.
Q13: How does “Real_Collection” plan to spread awareness about the “Real_Collection” project in different countries where English is not good? Do you have a local community like Vietnam, Indonesia, Thailand, Korea, .. so they can better understand your project?
Cho Summer: We are well aware of the fact that NFT is becoming popular more and more across the globe. We are putting efforts to establish global community by forming dedicated team for that. We belive such effort is necessary to allow that various opinions are exchanged and thrive for improvement of RealCollection.
Q14: I want to learn where can I buy your token and I’m wondering if are you listed on any cex like Kucoin?
Cho Summer: You can buy LED coin in BitMart and Gopax exchange. We are concentrating our efforts in listing on other global exchange.
Q15: Ledgis has released a wallet that allows users to use DApps without revealing their private key. Could you describe the key benefits of using Ledgis wallet as a stand-alone instrument? Which cryptocurrency exchanges allow you to send currency directly to your Ledgis wallet?
Cho Summer: Since LEDGIS wallet encrypts and securely stores the private key with the user’s biometric authentication, even if the device is lost, without the biometric authentication information, the private key cannot be revealed by others and the key can be safely protected. In addition, when using DApp, only a request to generate a transaction is sent to the LEDGIS wallet, and the subject that generates the transaction is the LEDGIS wallet, so you can safely use it without exposing the key. It has a UI that is easy to check account information and transaction information such as balance, CPU, and NET, and is user-friendly with functions such as being able to manage multiple DApp tokens in it.
BitMart and Gopax exchange allows sending LEDs directly to LEDGIS wallet. We are already listed in mainnet on Gopax and soon in BitMart, therefore there will be minimal fee in transaction.
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