Xircus NFT Summary Recap with Shin Chan Community
We held a live AMA with The Founders of Xircus NFT, Falco Pangkey and Michael Molina, on 31 July 09:00 PM (UTC+8). Here’s the recap for those who missed it.
Serene: Before AMA start, can you introduce yourselves and the team background?
Falco: Sure thing! Let me start introducing myself..It is indeed a pleasure to be here and I thank you for this opportunity.
I am Falco Pangkey, a co-founder of Xircus NFT. I take care of marketing and growth. Together with Mikey, we have been leading the project. We also have a highly experienced team working with us to get the Xircus show started.
Over the past six years, I have got a chance to be associated with several blockchain-based projects in different capacities. I have been a founding team member of a highly disruptive blockchain-based travel platform Locktrip. We did a successful ICO back in 2017. With over 15 years of experience in creating brand strategies, I specialize in digital marketing.
In my professional journey, I have had the opportunity to collaborate and work with one of the biggest creative agencies in the world TBWA. Inspired by the ideas of the blockchain revolution thus far, I have been heavily inclined to work in the rapidly evolving FinTech markets. In the last four years, I have undertaken projects catering to the FinTech industry (I worked with a London-based digital bank)
With Xircus, we target the exploding creator economy around one of the most potent use cases of the Blockchain: The NFTs.
Mikey: I’m Michael Molina, co-founder of Xircus. I’m responsible for Development, Decentralization and Technical Strategy for Xircus. Our development team consists of frontend, backend, mobile, devops, testers, smart contract and blockchain developers working diligently to make our platform safe and secure. I run a development agency in the Philippines.
I have 15 years experience as Solution Architect / CTO developing and managing software projects for top fortune 500 companies like US Student Loans, Disney, Wholefoods Market, MTV Networks and more. I am the creator of a same day food and essential delivery company who serviced to 100,000+ customers with around 7,000+ drivers operating in the metro.
Serene: Any latest/ update news about Xircus NFT you would like to share with our community?
Mikey: We just deployed a new video on how to deploy the marketplace in 6 steps
Here’s our latest press release from Business Insider
Xircus Creates the First Multi-Chain DAO With Marketplaces for Customized, Tokenized Assets to Help…
SINGAPORE / ACCESSWIRE / July 30, 2021 / Selling artwork at a value worth $69.3 million on Christie's in April, Beeple…
And our latest medium article on why Xircus will disrupt the NFT space
Understanding Xircus — What Makes It One Of The Most Disruptive Platforms In The NFT World
Skipping technical jargon, cutting through the noise, bulldozing the hype and the buzzwords – in this article, we…
We have a growing community, around 10k+ telegram and twitter followers. And lastly.
We will start our private sale in 48 hours from now, so if anyone interested, we have a KYC form to fill up
Q1: Revenue is a key factor for all projects to survive and keep the projects running. What is Xircus NFT’s way of generating profit and revenue? What is Xircus NFT’s revenue model?
Mikey: Xircus will earn 25% of mint fee and transaction fee for every NFT item from all independent NFT marketplaces deployed.
Imagine for every 1 million NFT item minted monthly, the platform earns $250,000.
10% of profit is sent to staking pools for $XIRCUS and $XMT.
That’s the reason why we vested our tokens for 2 years with 8 months cliff because the platform itself is already REVENUE GENERATING MACHINE.
Here’s the great opportunity for EVERYONE, both CRYPTO AND NON-CRYPTO USERS
Here in XIRCUS, you will earn in PERPETUITY if you are a RINGMASTER or AMBASSADOR or XIRCUS TOKEN HOLDER
You will earn 50% of all mint and transaction fees from all creators who minted their collectible in your community NFT MARKETPLACE in PERPETUITY. Imagine if there is 1,000 creators in your marketplace and they minted 5,000 NFT items, you’ll earn $2,500 which is $0.5c per minted collectible!
You will earn 25% of all mint and transaction fees from your assisted creators who minted their collectible in your community NFT MARKETPLACE in PERPETUITY. Imagine if you assisted your favorite creator and minted 1,000 collectibles, you’ll earn $250 which is $0.25c per minted collectible. And if all their NFT item sells — you’d earn 25% again from transaction fee of 2.5% of the NFT item price in PERPETUITY as it sells.
You will earn from every NFT item you sell from the platform up to 97.5%. Xircus has no first sale commission — we don’t do that here, that’s a middleman sucking your money.
You will earn from every NFT item you re-sell, and share from redistributed amount of 1% of NFT item price after 3rd sale in perpetuity. It means that every time the NFT item getting re-sold to another collector, you will continue to get your redistributed share of 1%.
We are targeting up to 5,000 marketplace with different categories and niches to be deployed in 3 months time and around 1M collection minted.
Q2: The 3 phrases that you always emphasize in Xircus are MULTI-TOKEN, MULTI-DEX and MULTI-CHAIN
Can you explain the meaning of these 3 phrases? And share what motivates the founders to create a great platform like Xircus?
Mikey: Multi-Chain — Xircus supports almost all EVM compatible blockchain such as BSC, ETHEREUM, POLYGON, CELO, FANTOM, and anything that you can see from this list https://chainlist.org/
Multi-Token — Xircus allows you to add multiple tokens as payment tokens for minting and purchasing NFT items. The payment tokens can be created by you (ERC20/BEP20) or created by others like GRT, SAFEMOON and more. That’s the reason why Xircus will excel in the future because it will bring all tokens to utility. Just imagine SafeMoon community minting their NFT items using their own token on a Xircus powered marketplace — that will be a HUGE!!!!
Multi-Dex — Xircus allows you to configure the contract to add multiple tokens paired with stable tokens in different AMM (decentralized exchanges).
How it works:
Token A is paired with BUSD in Pancakeswap
Token B is paired with USDT in Sushiswap
When an NFT item is minted, the creator pays the mint process for $1 worth of Token A or Token B
if Token A is used, it will load PancakeSwap and convert it to BUSD, then distribute to RINGMASTER, AMBASSADOR and XIRCUS
if Token B is used, it will load SushiSwap and convert it to USDT, then distribute to RINGMASTER, AMBASSADOR and XIRCUS
The same applies with transaction fees
when the COLLECTOR buys the NFT item
and every NFT item sold, there’s a 2.5% ~ 5% transaction fee which is distributed to
RINGMASTER — 50%, AMBASSADOR — 25%, XIRCUS — 25%
Everyone participating in the marketplace earns wether through word of mouth or minting or collecting and reselling NFT items
Q3: Many projects are currently developing various DeFi proposals to add value to their native tokens, so I’d like to know what plans the core team has for proposals such as farming, staking, or larger proposals such as developing a DEX or an NFT marketplace.
First of all, $XIRCUS is a deflationary token which already allows you to farm $XMT tokens as reflection by holding atleast 5,000 $XIRCUS in your wallet
We will open staking pools such as CURATION, DELEGATION, and BONUS (10% shared profit earning from XIRCUS marketplaces) staking pools for both $XMT and $XIRCUS
DEX can be an open topic, but we’d like to create synergy with all decentralized exchanges as we invite them and the tokens in their ecosystem to deploy their NFT marketplaces if they don’t have one
by the way
$XIRCUS token is a DAO token, use for voting up marketplaces to increase reputation, upgrading marketplace features or UI, proposing platform features, curating ringmasters, and delegating marketplace (receive shares from marketplace revenue) by staking tokens to delegation pool opened by ringmaster (as delagator, you’ll earn USD from the marketplace, the ringmaster earns $XMT from the delegation pool)
$XMT token is the reflection token for $XIRCUS, only 1000 $XMT is added to liquidity for every marketplace deployed every time liquidity pool is filled from 10% profit shared by the Xircus. $XMT is the alternative or optional token for marketplace if RINGMASTERS doesn’t want to create their own tokens or any existing BEP20 tokens
That’s the reason why we have 2 tokens, and both of them are already minted in BSC. There’s only 100M $XIRCUS token.
That will be used for X number of marketplaces in the future… We believe its not enough but this is the best way to make it valuable in the future.
Q4: We know that marketing is a must-have keyword for all projects. It is at the heart of every project, informing people of the potential a project can deliver..
So what is your strategy for attracting new users and investors to your project and retaining them in the long term..?
Falco: Let me answer this one.. I totally agree with you. In fact, as a professional branding and marketing specialist, I believe i understand the importance of marketing… to say the least. I am passionate about creating innovative marketin strategies (or better call it ‘healthy obsessed with’).
However, with Xircus we are taking a nonlinear marketing approach. While it may be surprising as that’s not what you usually hear from a marketing professional, but I am ‘product-first’ guy. The importance of the minimum viable product cannot be stress enough and with Xircus you can easily see why.
We have been developing this product for the past seven months. Only now when we have a MVP ready, for our potential users to experience the product on the go, we are coming out to ask you to try it. The nonlinear approach where we place the product first is what I believe is critical especially when blockchain-based solutions are consistently facing accusations of not having practical utility and when a significant majority of initiatives leave product development on the backburner and invest disproportionately and prematurely in marketing
Even when we haven’t even published a whitepaper without proof of the pudding
Mikey: Our mainnet beta launch is on August 7
Falco: I regards to attracting new users (investors) I definitely believe it should be a priority and we are ramping up on our efforts now that we have received several positive and encouraging review on the Xircus MVP
We have strategically planning the entire marketing run.
From executing digital mass marketing campaigns (which ofcourse includes leveraging a network of influencers), to getting the word out through premium press we are already at it. You see how we got some on tier-1 business portals Business Insider etc.
Our socials are already in plance and we have been gaining traction.
Since launch we have got 10k followers and the engagement level clearly demonstrates that we have at least built required foundation
But again, not in full force without having a great product first. Tha tdoesn’t make sense to me in the early stages. I;ve seen this unfolding into reality in the early stages at the decentralized hotel booking marketplace project Locktrip. We are here for the long haul and not some kind of moon/pumpin coin
Most importantly we are catering to the Creator economy and have a real practical utility with watertight revenue systems as Mikey just explained. As such, all our marketing efforts in the first stage will be channelized to get NFT creators and DApps onboard. We also considered the idea of having a celebrity partner, but because Xircus is a value-based solution we are more focussed on creating a robust and full-proof product. We believe in what we are creating and therefore we are not in a rush or fear to be left behind.
Now we have a working product and it has been designed for networking growth. I believe in the propositions of the “Metcalfe effect” which states: “the more devices/users are part of the network, the more value the network has for its users.”
So yeah, imagine when the product is working, gaining adoption — assuming the NFTs are really gamechaging in the new creator economy — you may understand that when doing digital and real-life marketing campaigns would really make sense and help us achieve the exponential growth of the Xircus platform. Again we believe in our platform’s solution for NFT creators. It offers multiple features to reward existing users and other stakeholders — perpetual rewards is one of them. You can follow us to learn about our other features designed to help us with users (customers) retention.
Q5: I’ve seen that you have many non-English community, like Chinese, Korean, French. How about to other countries like Vietnam, Indonesia, India when can we expect to have community for them?
Falco: We believe in the power of the community and as you might have already read on our website ‘ start local & earn global’ is something that would be possible with the Xircus platform.
From my previous work experiences I can say that localization drives engagement. As such I totally agree with your question that we need to extend our community base, especially in emerging crypto-markets in South east Asia.
While we have already tapping into dedicated communities for top Asian markets our team is actively researching with other markets and communities (countries/cultures) would really value and adopt the product we are offering
Without disclosing a time I must say that the team has already identified a few markets. Soon we will be having new additions that we will announce. We have already developed the strategy and approach to launch country specific communities.. the blueprint is ready!
Anyway I am glad you asked this question. While you learn more about Xircus on our community channels you can always help us with your suggestions. Moreover if you are interested in helping Xircus to grow in your country/community/niche/scene, feel free to reach out to us through this form: https://docs.google.com/forms/d/e/1FAIpQLSfXooXEOLZyU6cf6HW2sDmhL4Nk-ftGF3LFz5p1OHa1gjzrJA/viewform?usp=sf_link
Telegram Live AMA
Q6: 🍁 I learned that Xircus is also developing Xircus TV app and chat ordering features. What features will the Xircus TV application provide, how to chat?
🍁 Xircus marketplace tokens What is the importance of XMT for users and platform? Can we use it for marketplace trading and how will it be used for utility token generation?
Mikey: Yes we are developing a TV app, mobile app and chat features so it will be ease of access, we’ll provide more details on this on our future announcements
Q7: There are so much NFT Projects coming at the moment, & chance of getting popular & for longeterm is very less for all,
Why do you think Xircus NFT will get huge userbase in coming time?
Mikey: Definitely, with the rewards and incentives that everyone can get — it should be massive
Q8: Which programming language skills coding required for creating NFT’s using Xircus NFT?
Mikey: none, just fill out the form and click some buttons https://www.youtube.com/watch?v=WjCdA4FAJPs&t=6s
Q9: In which countries will your project primarily operate? And to which countries do you want to expand the service?
Q10: Earlier on you said RINGMASTER will earn 50% of all mint and transaction fees from all creators who minted their collectible in their community NFT MARKETPLACE in PERPETUITY. Can you please tell us who this RINGMASTER are and who can become a RINGMASTER? Is it community owners or normal token holder?
Falco: Anyone could become a RINGMASTER (anyone who wants to start a marketplace whether you are an influencer, music arts, digital artist or if you are owning a local art gallery in Paris)
Q11: Do you have AUDIT credentials or are you working to AUDIT your project,” to make it more secure and reliable???✅✅☑️🌷🥀
Mikey: We have an audit process. In the nutshell, we have experience in smart contract auditing and using deep scanner tools developed by Consensys called MythX which is also used by smart contract auditors. We have an internal smart contract auditor but we’d also have our token audited by other auditing company after the private sale. Rest assured that our contracts are battle tested and audited internally to made it safe and reliable.
Q12: defi hottest topic , “i am white hat hacker” , “$sushi hottest topic” , etc. so many people say it and put it on all project. now i will make it diffrent. what you think Rug-Pull system on ? and are you going to make some similiar system on your project
Mikey: $XIRCUS token has anti-dump mechanism and 2% extra fee when selling to exchanges, so rug pull may be prevented. We’d love people to hold $XIRCUS the same as we do
Q13: What kinds of problem are XircusNFT trying to solve to make it easier for Crypto users? Do you have the intension to bring benefits to non-crypto users and how can you do that?
Falco: Well, idea has been to create the solution to empower artists, influencers, collections: giving control that comes with the power to create their own NFT marketplaces and own their own ecoysytem
Q14: my question is,
I love this project is placing importance on the community aspect. It’s something that I think is lacking in a lot of projects. How can us early investors really help project grow before it launches? From providing liquidity to general participation, what different roles are there when it goes live??
Mikey: you can be a RINGMASTER, an AMBASSADOR, CREATOR or COLLECTOR, and all of them allows you to earn
Q15: How can I farm Xircus NFT tokens and earn from farming and staking?
Mikey: HODL 5,000 $XIRCUS token
Q16: The yield rewards and staking rewards are needed to be manually collected formally What is your mechanism as Xircus NFT? Do I need to click collect every time?
Mikey: $XIRCUS distributes reflection token $XMT automatically, but you can always do it manually
Q17: What is the difference between a RINGMASTER and an Ambassador? How can a user become a RINGMASTER or an ambassador?
Falco: RINGMASTER is someone (who could be anyone like you) that own his NFT marketplace. The ambassador is basically the creator inviter, someone who invites to the marketplace
Q18: The boom of the NFT + DeFi association that is causing so much interest in the world?
How does Xircus take advantage of and exploit this reality?
Mikey: The world started realize that everything can be tokenized, so we are looking at Xircus as the decentralized version of Shopify for NFT
Q19: While you build your project, do you take into account community feedbacks and demands ?While you build your project,do you take into account community feedbacks and demands ?Thanks
Falco: Yes for sure! We’re always learning and understanding what users truly want is part of the process.
Q20: As Your first Beta launch is sechduled on 7th Aug,
How much are you excited about it?
What is the main reason to deploy on Binance Smart chain?
Mikey There are people who are lined up to deploy their marketplace so our excitement is on the ceiling
Q21: By holding $Xircus, We’ll earn $XMT, What is the usecase of $XMT token in the whole ecosystem?
Mikey: $XMT is the alternative option for marketplaces who doesn’t want to create their own tokens or use existing ones
Q22: 1. You mention “users can grow their NFT market locally with a global reach.” Do you consider yourself a global project?
2. Apart from the product, the community and the growth for the creation of NFT, what are you currently focusing on for Xircus?
Falco: Yes, we approach this project from a global perspective, however we are building this through the local communities, together.
We are currently fully focussed working towards mainnet launch (not only for ringmasters but for everybody)
Q23: can a user using xircus receive any rewards when he or she invites NFT curious people or communities around him or her to your platform? If he can get awards, what kind of awards are given? If you don’t have a reward program, do you follow a different path?
Mikey: Yes, he/she earns $0.25c in USD for every minted collection of the invited creator
Q24: almost 50% of projects only promise miracles but never release a working product or prove any revenue, Within short/long release time. Is your system like this? If not, can you tell us, What makes it different from other projects?
Mikey: True, that’s why we do it the other way around. Developed the product first then offer the token sale…. Imagine how much effort we put on this to make a reality and hope you’d see this on August 7, which ofcouse will FOMO more. Imagine people are already deploying their marketplace while the platform is still in token sale… NEVER BEEN DONE BEFORE!
Q25: What distinguishes XIRCUS NFT from other Platforms projects? Could you tell us about some of your project’s amazing features and objectives that will attract additional investors?
Falco: Xircus is a multi-chain NFT marketplace creation platform.
Q26: Where can I buy Xircus NFT right now? Which it is based on blockchain can I use 1inch swap or uniswap or pancakeswap?
Falco: Right now the $XIRCUS token is not available in the market yet. However, we are launching the private community sale in 48 hours from now. If you are interested, follow our channel/group and fill in this form: https://docs.google.com/forms/d/e/1FAIpQLSfXooXEOLZyU6cf6HW2sDmhL4Nk-ftGF3LFz5p1OHa1gjzrJA/viewform?usp=sf_link
Q27: I think you need good UI/UX design too so people can attracted and using it easily. What is your effort to make Xircus NFT website good looking and attract more user? ? Anyway I already looked Xircus NFT website is good.
Mikey: We will be inviting UI/UX creators to create marketplace skins that ringmasters can upgrade to
Q28: is there a phone app on the xircus platform that NFT owners can easily access and use with them? IOS, android etc. can it be used as, integrated into different operating systems?
Mikey: soon, we will have our Xircus mobile app so NFT holders can show proof of authenticity or ownership from marketplaces
Q29: Other than Telegram, are there any other Social Media Platforms or Online Places where you promote and advertise #Xircus to grow communities? Or just Telegram for the time being?
Falco: Tiktok, Instagram and Youtube as well!
Q30: I could tell that they focus a lot on influencer and music artists, and that they could make a lot more profit by tokenizing their products and trading them with Xircus, but is this really true? Can “Influencers” really earn more with Xircus than on YouTube or other social networks?
Falco: Oh yeah! If the influencers are just putting their content on Youtube and they are earning through Youtube, imagine what they could earn if they are actually selling their own NFT through their own ecosystem. As an influencer you can set your own price for the NFTs. In fact we can protect the content of the influencers even better than the centralized social platforms.