Unique Network AMA Summary Recap with Shin Chan Community
We held a live AMA with CMO, Charu Sethi from Unique Network on 17th August 09:00 PM(UTC+8). Here’s the recap for those who missed it.
Introduction
Serene | Shin Chan: Before the ama start, please Introduce yourself and your Unique network.
Charu | Unique Network: sure! My name is Charu Sethi, I’m the Chief Marketing Officer at Unique Network. I have over 14 years of experience in tech marketing, with 4 years’ of experience in the blockchain industry. I have worked for companies like IBM, helping build out their blockchain adoption marketing for the Asia Pacific.
Unique Network is a live parachain on both Polkadot and Kusama Network. Both Unique Network and Quartz Network won 14th parachain auction on Polkadot and Kusama respectively. Unique Network is the first NFT chain for Polkadot and Kusama. We are one of the most advanced and powerful NFT chains. Not only is it climate-friendly, because it’s proof of stake, it is also designed to create future use cases.
Serene | Shin Chan: What are the key differentiators of Unique Network?
Charu | Unique Network: Unique Network, the first NFT chain built for Polkadot and Kusama, is explicitly made to solve the problems by running NFTs on Ethereum. As a fully scalable blockchain for composable NFTs for advanced economies, we believe our technology and infrastructure will provide a sustainable future free of limitations, delays, and hindrances that plague NFTs today.
Here are some distinct features of the NFT Chain,
- Advanced NFT features– equip your NFTs with our dynamic suite of advanced features: RFT (re-fungible tokens), nested NFTs, renting, lease, etc
- EVM compatibility — Start building on Unique using tools you’ve already familiar with (Solidity, Remix, Hardhat, Truffle, Metamask and etc.)
- Interoperability — transfer your assets between Polkadot parachains using HRMP channels and XCM format
- Expand the market access for your NFTdApp. Easily push your Smart contracts from Ethereum based chains on to the Polkadot ecosystem now!
- Speed and Scalability — instant finality, 6000 tps and almost free transactions
- Easy to connect — Use our SDK and APIs to build your own apps: marketplaces, play and earn games and any other NFT apps on the Unique Network
Serene | Shin Chan: Why are you giving away a fraction of crypto punk for free?
Charu | Unique Network: There are 2 reasons for it
- As an NFT Infrastructure project, it’s very important for us to showcase our technology and let the community have hands-on experience
- web 3 is all about community and we want to give back to the community for supporting us through our journey.
This gave birth to the “Punks for people campaign”. Where the community can sign up for a share of Cryptopunk and Substrapunk. Substrapunks are the first NFTs in the Polkadot ecosystem, we asked Substrapunk holders to list them for 100 KSM on our marketplace(unqnft.io). Through voting, we have selected one Substrapunk that will be fractionalized and distributed to the community with Cryptopunk.
Recently we added a NFT chest to these fractions as well, so both Substrapunk and Cryptopunk will be bundled in a chest and make a full NFT. This is also an example of the on-chain infrastructure tech of the Unique Network chain.
recently we made big news on CoinTelegraph
The entire Shin Chan community still has an opportunity to Sign up for Punks For People,
Serene | Shin Chan: Unique Network has an ambassador program, can you please share more information about your ambassador program?
Charu | Unique Network: That’s a wonderful question. Yes, we have recently started our ambassador program. So many enthusiastic community members are participating & contributing to our ambassador program.
We’re very proud of their contributions. Our ambassadors are very engaged and help us across community growth, content creation, testing of tools, and much more!
so if you would like to leverage your skills to support the long-term growth of the Unique network, pls do apply!
Serene | Shin Chan: Why should NFT developers choose to build on Unique Network and not on other chains available?
Charu | Unique Network: Unique Network offers the most advanced NFT application features available, more than any other network to date. Sponsoring with built-in rate limiting for thwarting bot attacks, nesting, bundling, re-fungibility (very soon) and is developing even more features.
All of these features are either fully functional NOW or will be very very soon (I’m talking refungibility here). To use them you DO NOT NEED to write contracts. They are blockchain features and execute atomically on the validator nodes (WASM code) which makes these options real-world usable at the speed of the network.
We have the easiest advanced NFT minter in whole web 3 space.
Whitelabel marketplace that anyone can create in a few hours,
unqnft.io
Find all our developer tools,
Twitter Section:
Q1: Unique Network, a pioneering new technology, the RFT and will breathe new life into a world. What does this technology consist of? Why do you consider your technology to be pioneering? How is it different from others? How will it breathe new life into the world of crypto?
Charu | Unique Network: RFT is a refungible token, it’s a similar concept to fractionalized NFTs.
As an infrastructure provider, our goal is to make it very easy for users to create RFTs. On Ethereum fractionalized NFTs take hundreds of hours and a few hundred thousand dollars. We are going to provide this facility to users on the chain and just in a couple of clicks.
RFT technology has a wide variety of use cases that can positively impact the world, but we will leave that to application developers.
Q2: I read that Unique Network is based on Substrate with compatibility between Polkadot, Kusama and Ethereum.But, they plan to implement other networks compatible with their model in the future?What were the technical reasons why you have based your project on this Substrate system?
Charu | Unique Network: There are few reasons to choose Polkadot and substrate,
- Substrate allows us to plug and play lots of things, so we don’t have to reinvent the wheel.
- Interoperability. Future of blockchain is multichain, with polkadot all chains build on substrate can interact with each other.
- Polkadot is a layer 0 blockchain, it allows us to build layer 1 blockchain on top of it with billions of dollars worth of security from polkadot.
Q3: How do I build on Unique Network? Is there any grant or support from Unique Network?
Charu | Unique Network: You can start with reading the documentation
in terms of grants, we do not have a formal grants program yet — but we often organise Hackathons. Recently we did one with Polkadot. There are a few more coming this year!
pls stay tuned to our channels and take advantage of the hackathons and the reward amounts there.
Q4: As per current market, gaming seems to be biggest usecase for NFT.
How are you supporting gaming companies?
Charu | Unique Network: Thanks for asking this! :)
Gaming is one of the most exciting opportunities for NFTs and esp for us. Gaming needs NFTs to do more and we have all those capabilities on our chain
last week I was in Seoul, attending the Korea Blockchain Week. And i was so excited to see the energy around gaming in that market
For gaming, freemium gaming has been a model in the past and will be in the future. Users like to experience games for free and then there is financial interest. However blockchain makes it difficult, so we have introduced something called a sponsorship pallet where developers can sponsor transactions and provide a freemium experience.
Taking it up a notch, we’ll sponsor six months of transaction fees for any game building on Unique Network.
Q5: What are the ways for your project to generate revenue in the long run?
What is the progress of business development?
How is your project pursuing its goals?
And can you tell us which areas are you currently working on?
Charu | Unique Network: Revenue for Unique Network comes from transaction fees in different apps built on our chain. Right now we’re working on launching more and more infrastructure and SDKs for developers to use and build on.
As mentioned above, we have white-label products like a marketplace(unqnft.io) that founders and developers can build in just a few hours.
for Business Development we focus on 4 segments:
1. Start-ups: founders and creators who have NFT ambitions and would like to create their own custom marketplaces using our SDKs and Blockchain
2. Existing NFT chains who would like to bridge over to the Polkadot ecosystem and expand their market access
3. Enterprise: Brands and companies who would like to leverage NFTs for enhanced business models and customer engagement
4. Polkadot ecosystem projects using XCM
Telegram Live AMA Begins:
Q6: Can CryptoPunks be fractionated? Can I as an NFT owner use a Crypto Punk 3042 image as my profile picture? Are CryptoPunk copyright and trademark rights infringed by the fractionalization of CryptoPunk 3042? So, what will happen to my NFT if the NFT — CryptoPunk (3042) gets sold?
Charu | Unique Network: Yes Cryptopunk owners own full licence to use their NFTs. Yuga Labs transferred all copyright and licences recently to the owners. There is no trademark violation
the Cryptopunk 3042 will be jointly owned by the community- it is locked in a smart contract — it cannot be sold as a whole :)
you can read about copyright in this latest article
https://www.theblock.co/post/163519/cryptopunk-and-meebits-holders-can-now-use-their-nfts-for-commercial-projects
Q7: What important uses do $UNQ token holders have over people who do not hold your tokens, and are there any advantages for long-term holders as well? What strategies do you intend to use to increase the token’s value and depletion?
Charu | Unique Network: Unique Token will derive its utility from the fact that it will be needed for all on-chain NFT transactions. As more projects build on Unique — more Unique tokens will be used. Also the key highlight is App Promotion staking which will be very exciting for all token holders. with that you will be able to support and sponsor your favorite apps building on Unique
read more about it here:
https://unique.network/blog/app-promotion-staking-a-uniquely-accessible-pathway-for-developers/
Q8: It is True that Gaming need NFTs in the Current Era but,
Many NFTs are Becoming Useless after a certain amount of time,
How do You see this?
Charu | Unique Network: this is a good point. Therefore it is important to see how well designed is the Utility of the NFTs within a dApp>
In respect to the gaming, the incentive design mechanism, not just for the players but various other roles in the gaming community are important. How the digital ownership of NFTs is structured is also very important. These are some of the elements that will make a good web3 game
Q9: While Researching , I Found that There are Two UNIQUE Products Which are Currently Live On your Platform :
¤ UNIQUE MINTER
¤ UNIQUESCAN ( on Quartz )
Would You Please tell me In Brief About these Products , and What are their Unique Features ?
Charu | Unique Network:I would say that our core product is the Blockchain which is powered by SDKs and tools like Minter, Scanner and wallet.
Minter is where we are making features like RFT , bundling, nesting etc available soon . these will be designed in a way that is easy for end users to use. so as developers, you will find it very easy to grow your own end user base.
You can find all details on our channels. Stay tuned to our twitter — we will be making some announcements very soon.
https://twitter.com/Unique_NFTchain
Q10: Is there a wallet that the Unique platform recommends to its users or do you plan to create a wallet of your own within your plans? Are you considering creating another NFT collection besides Substrapunks or Chelobricks?
Charu | Unique Network: we do have a Unique Wallet where you can see your own NFTs for now. we continue to develop and enrich that more
https://wallet.unique.network/
with regards to additional NFTs: Sign up for the Punks for the People campaign here: and you will receive a few freebies :)
