Space Summary
The Twitter Space Coinstore x LTX AMA: Transforming Digital Entertainment hosted by CoinstoreExc. The Coinstore x LTX AMA delved into the transformative realm of digital entertainment where blockchain technology, community engagement, partnerships, and educational initiatives are revolutionizing user experiences. As the crypto and entertainment sectors collaborate, innovations in seamless payments, regulatory compliance, and trust-building mechanisms play pivotal roles in driving sustainable growth. The convergence of finance and entertainment offers new opportunities for creators and users while emphasizing the importance of technology integration and user-centric strategies.
For more spaces, visit the NFT page.
Questions
Q: How are digital assets influencing user experiences in entertainment?
A: Digital assets offer new ways for users to engage with content and participate in the economy of entertainment platforms.
Q: What role do partnerships play in innovating the crypto and entertainment sectors?
A: Partnerships foster synergy, leading to the development of cutting-edge solutions that benefit users in both industries.
Q: Why is community engagement crucial for the growth of crypto exchanges and entertainment platforms?
A: Engaging the community builds loyalty, enhances feedback loops, and drives user acquisition in these evolving industries.
Q: How does education impact the adoption of cryptocurrencies in the entertainment space?
A: Education demystifies cryptocurrencies, empowering users to confidently participate in the digital asset ecosystem.
Q: What are the challenges associated with regulatory compliance in the crypto and entertainment convergence?
A: Navigating diverse regulatory landscapes requires proactive measures to ensure legal compliance and industry legitimacy.
Q: Why is trust essential in fostering sustainable growth in the crypto and entertainment sectors?
A: Trust forms the foundation of user confidence, enabling long-term relationships and industry credibility.
Q: How do seamless cryptocurrency payments benefit users and creators in entertainment?
A: Streamlined transactions enhance user experience, increase transaction speed, and offer new monetization avenues for creators.
Q: What are the key drivers behind the increasing integration of cryptocurrencies into the entertainment industry?
A: Increased efficiency, lower transaction costs, and global accessibility drive the adoption of cryptocurrencies in entertainment use cases.
Q: What technologies are at the forefront of revolutionizing the entertainment industry?
A: Blockchain, smart contracts, and NFTs are transforming how value is exchanged and distributed in digital entertainment ecosystems.
Q: How can the entertainment and crypto sectors collaborate to enhance user opportunities and experiences?
A: By leveraging each sector's strengths, cross-industry collaborations can create innovative solutions that cater to diverse user preferences and needs.
Highlights
Time: 00:15:42
Innovative Technology Integration Exploring how blockchain and digital assets are reshaping entertainment experiences.
Time: 00:25:11
Partnership Impact on User Experience Analyzing the benefits of collaborations between crypto exchanges and entertainment platforms.
Time: 00:35:28
Community Building Strategies Discussing tactics for fostering vibrant and engaged communities in the crypto and entertainment sectors.
Time: 00:45:19
Educational Initiatives for Mass Adoption Highlighting the importance of educational campaigns in driving mainstream adoption of cryptocurrencies in entertainment.
Time: 00:55:37
Regulatory Challenges in Converging Industries Examining the complexities of regulatory frameworks affecting the convergence of crypto and entertainment.
Time: 01:05:44
Trust and Transparency Fundamentals Stressing the significance of trust-building measures for sustainable growth in digital asset trading and entertainment.
Time: 01:15:22
Seamless Payment Solutions Exploring the benefits of frictionless cryptocurrency transactions for users and content creators.
Time: 01:25:16
Cryptocurrency Integration Advantages Highlighting the advantages of integrating cryptocurrencies in various entertainment platforms.
Time: 01:35:50
Technological Innovations in Entertainment Delving into how emerging technologies are driving innovation and value creation in the entertainment industry.
Time: 01:45:33
Collaborative Opportunities for Growth Exploring avenues for collaboration between the crypto and entertainment sectors to enhance user experiences and opportunities.
Key Takeaways
- The blend of digital assets and entertainment is reshaping user experiences.
- Emerging technologies like blockchain are revolutionizing the entertainment industry.
- Partnerships between crypto exchanges and entertainment platforms drive innovation.
- User security and convenience are paramount in digital asset trading.
- Community engagement fuels growth in the crypto and entertainment sectors.
- Innovative solutions are enhancing the accessibility and usability of cryptocurrencies.
- The convergence of finance and entertainment opens new opportunities for users and creators.
- Education and awareness play a crucial role in increasing adoption of digital assets.
- Regulatory compliance remains a key consideration in the crypto and entertainment space.
- Seamless integration of cryptocurrency payments is becoming more prevalent in entertainment.
- Nurturing trust and transparency is fundamental for sustainable growth in the industry.
Behind the Mic
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Session Introduction
All right. Hello everyone. Lorenzo, are you ready to start? Yes, I'm here. All good. Thank you. All right, I'll give an introduction first. So good morning, good afternoon, good evening, wherever you are. I'm your host for today. My name is Kay and today we have an ama session of with LTX Tennox featuring our speaker here is Lorenzo Thano. He is the founder of LTX and today he'll be coming up to our platform and giving us a insightful session about what his project is all about. And before we begin, I do want to announce that we'll be doing a promo code giveaway of LTX token throughout the livestream. And to claim this giveaway, guys, please make sure to download our Coinstore app through the Apple App Store and through the Google Play Store make sure to register an account. And afterwards I'll be announcing the promo codes and you could claim our, you can claim some free LTX token through our Coinbox feature. I'll be reading out the promo code. So guys, do please stay tuned for that. And without further ado, let's begin.
Lorenzo's Introduction
So before we talk about what LTX standox is all about, maybe Lorenzo, you could give like a brief introduction of yourself to the audience. Okay. Yes, that's perfect. So thank you, Kay. My name is Lorenzo Tano and I am the son of Rocco Siffredi. Maybe some of you already know him, but for someone who doesn't know him, he just had a series about his life on super sex. And basically he is an adult performer and has been an adult performer for the past 35 years. In the last ten years, he mostly focused on directing and producing adult content. And as some of you know, in the recent years there's been quite strong pushback from payment processors such as Visa, Mastercard, primarily. And I don't know if you know this, but us who work in the industry, we have to pay something which is called porno tax and that goes from ten to 15%. So together in our web, two companies. So we are not a startup, but I actually work with my father. I've been working with him for over ten years and I managed his business side and also from the production side.
Project Development
So that's how I basically connect into this project. And we started developing this project around five years ago. We launched a token last year in April with the sole purpose to basically diversify and include blockchain technology into our existing company. So since then, of course, we are basically operating since a year. We launched the V, one of our platform, which is focusing on education. Right now we have our first course, which you can already buy with LTX, but we are also expanding it to our physical events. We are based in Hungary, but we do events both in Hungary and in Italy. And we already also have partnership with Helio for everybody basically to integrate this token and this project, we are on the Solana blockchain. And like this we have Solana fees. And also the speed and scalability is also a feature, because in the future, the next platform, after the educational platform will be a live stream platform, similar to twitch, but integrated with LTX tokens.
Main Goals and Utilities
So the main goal of this project is basically to enable users in our sphere, in the educational and also in the adult world, to integrate this kind of technology without having all the disadvantages which we have currently with the current payment providers. So this is how the whole project was born. Today we're also integrating with swingers clubs in Italy. So there's also a big interest in, of course, the whole swingers sphere for diversifying and having a secondary, basically point of utility. And another thing we provide is, what I wanted to say is utility for holders. So we don't strictly have to spend LTX, but by holding LTX, for example, we have a promotion now that with 10 million LTX users can then come to our studio, visit and basically feel or experience how it is to live. For example, an adult experience in the live, even if people don't want to participate, but just want to universal studios, see how it works. There's also this option, and this is basically the purpose of this project.
Integration and Adoption
And we're also working with some other companies to get LTX integrated. So one might ask, why would someone integrate LTX as opposed to a stable coin or just Solana? No, because that is a completely valid point. Well, as we know, Solana is already quite huge. So it's on a macro aspect, the macro aspect, for example, if there are rate cuts, so you know, it moves together with all the majority projects such as bitcoin and everything else, because it's already a well established large coin and it's also therefore quite volatile. Since our project is very small, we are able to onboard new stars and more people onto the project. Because the idea is that if adult X introduces or starts using this token and people start spending these tokens onto her, and then 510 other people start to use it at the same time, basically these incomes compound and for the now called creator community or creator economy, it helps them basically stabilize.
Community Impact
What that means is that the more people use it, they all benefit at the same time. And that's one way we can basically onboard new talent onto the platform to start integrating and use this project. This is effectively the core business. I don't know if there's Q and a people want to have answers or how that works. All right, so moving on. I think that you explained a lot about this project, but, you know, what's the key feature of this project that separates it from other, I would say other blockchain platform, and what's the innovation behind it? Like, what's the mission that you're trying to achieve for LTX than ox?
Feature and Innovation
Yeah, so, I mean, we're a token on the cell, on the blockchain, so we're not another block. So we're not essentially a blockchain technology. That is very important to understand that we don't necessarily bring innovation in terms of a new blockchain technology. We already use an existing blockchain, like Solana, and use its capabilities. And where our strong point lies is actually the experience in the sector, and we know what the users need in terms of user experience.
Project Integration and Challenges
In the past, there has been many projects that tried to do this kind of integration already, starting from 2017, because as we know, this problem is not something that is just relevant for now. But it has been an issue for quite some time. So, I mean, just to say a name. For example, there was this project called Pokeme, and they actually contacted us because they wanted to do a partnership with us in the past two years ago. And we actually declined because their platform is absolutely not good in terms of user experience. So what we can bring is real life use cases, which you can already use now with our token. So that's our strong point. And our network, we can onboard. I mean, if you go on to Sifredi Academy, you can already see all the people we're collaborating with, and some of these people have millions of followers. So what we are trying to do is actually provide real life use cases into blockchain technology, and that's basically our strength.
Tokenomics of LTX
So, moving on. I think right now I want to ask a question about the tokenomics of LTX. Maybe you could share with us, like its supply or maybe its distribution mechanism. How does the ecosystem run? Okay, so they're basically also on the website, you can find the tokenomics, but basically we have 83 billion supply. Everything is already minted, and we have disabled the possibility to mint more. So it's effectively a fixed supply. And what we are doing is we wanted to really focus on community incentive. So we out of this 80% supply, 10% was allocated to liquidity pool and 60% was allocated towards community incentive, which basically means that from last year, for the next six years, we have a halving each year. So every year around April, we have a halving where we reduce the number of. We have basically a staking mechanism in radium where people who provide liquidity into the project can earn a fee. And that's how were able to maintain a very healthy liquidity pool of, I think currently it's around seven hundred k and people can earn a fee for that.
Promo Codes and Engagement
All right. Okay, so moving on. Right now I would like to announce the first promo code of this for this AmA. And guys, if you're enjoying this Ama so far, guys, make sure to follow us on coinstore and also make sure to follow LTX Sandox as well. And to claim this giveaway. Guys, I do want to remind that everybody here should download our coinstore app to claim this giveaway to app store through Google Play Store. And yeah, right now we're announcing the first promo code for you to claim some free LTX tokens. So the first promo code is t five z four n p j g. I'll repeat again, t five z four, n. Pulled JG, guys. So that is the first promo code of this for this Ama. And there will be another promo code during the end of this ma. So, guys, do please stay tuned for that.
Personal Experiences and Struggles
And back to the question. So I think that, you know, you mentioned your project, you started with your father. You, I would say, partner with your father. Right. So how was it like. Yeah, could you like, maybe like share the experience or maybe like, what struggles you guys have? Maybe share a bit of a personal experience in developing this project? Yeah, sure. So actually, we had some delays on the platform. We're supposed to launch it last year. But this is also another point which ties into the adult industry in general, is that it's hyper regulated. So. So when went to develop the v, one of our educational platform, we had to basically apply all the rules and regulations which apply onto the adult world and also for the crypto side. But the very positive thing is that since the direction of the adult space is moving into the direction of KYC and having people verified with age so like that, they can then join the platforms, it's also a similar direction which crypto is also going towards.
Future Planning and Expansion
Of course, with KYC and AML. So right now, you know, I know lots of people don't like the KYC aspect of the crypto side, but in our case it's kind of like we have to do it anyways for that old stuff. And therefore we can basically get, you know, two birds with 1 st. And actually two years ago we also had seven providers and then two of them decided not to work with our productions. This is actually speaking on a personal level like with our industry. So we still have five providers. And that's why we also decided to integrate the crypto because we are seeing a. And that lots of companies are facing more and more scrutiny from regulations. And as I said, they also charge very high percentages for people who are just joining in. They charge between ten and 15% fees just because we are working in the adult space. So that's basically how this whole project was born to mitigate this. And we are actually trying to push it, push this token onto all the players in the space because of course we want to spread the utility of the project.
Determination to Expand
All right. Despite the struggles, I see that you're quite determined to expand your project, despite you mentioned the regulations and the taxes. But I think you are still eager to expand, which I do appreciate that you want to expand this project, help it to grow further and moving on. So I want to ask about like what are the future plans for LTX? As you mentioned, you're expanding it. Are there any new announcements or any news that you can share to our audience here?
Future Plans and Partnerships
Well, we also did are working on a partnership with a dancing platform that will also launch next month. And we're looking to integrate LTX also with them also because I know it's not really connected to the adult environment, but the dancing world is definitely a large one and we want to basically, I mean the vision of the project is liberty to give basically freedom of expression to the people through this token. And of course we don't want to basically exclude anyone from this, of course staying in legal limits obviously. But that's why we are also integrating this project with other dancing platforms like that we can expand the horizon of the project and the reach of the project even more.
Expansion in Europe
And of course, something which we're working on, which we already said it's the Swingers club, especially in Italy, but we also want to expand that if it works well and if we get positive feedback also in Switzerland and around Europe, because that's also quite a big market. All right. I heard there's a lot of plans coming up and moving on for anybody that's interested maybe in joining your community or getting involved in LTX. So how do they get involved? Are there any socials or are there any, I would say, platforms that they can join in and get involved in your community?
Joining the Community
Yes. So people who want to directly join and participate into our academy or want to enter basically the adult world, which is what this whole project was basically born for, they can do it through Sifready Academy. It has all the information. The v one of the project is ready online, and the first course can already be purchased with LTX, we will be launching the community aspect of the platform within a month also. So people will be able to interact with each other and people who want to basically make movies or people who want to act or just participate, they can then do networking and interact with each other and then organize these events.
Platform Details
And then, of course, we have our Telegram group, which you can also find through our Twitter channel. But it's basically tanox LTX. Also from our website, which is tanoxrtx.com, you can find all the links to join our communities, basically. All right, so moving on. So sorry if I sound like very careful when I'm phrasing because of the nature of the industry, but I do think that your project has a lot of potential, as I think that you mentioned, you're spending in the us market and also other places, which I think that's great.
Industry Regulations and Future Outlook
And moving on to my next question. So I think that you mentioned your project that there's a lot of regulations and a lot of taxes. So in this industry. So what will you see, like your project in like the next five years in terms of the industry? Will you think that the regulation will be lifted more or be more flexible or will you think it will become more strict? And how do you who plan to handle this? So there are two aspects of this, because actually on a legal standpoint, what we need is basically the people to be overage and consensus.
Legal Standpoint
So basically they need to comply. It should not be forced, of course. So these are on like an actual legal level, the two main points, that the people are overage and they want to do it, they are not forced into it all the other rules, regulations and for example, taxes attached to this. They only come from the payment providers such as Visa and Mastercard, which as we saw in recent years, they have banned ex videos and Pornhub. In those cases, actually, I can also say it's rightful because on those platform they had miners and they had other issues, of course.
Adult Space Regulations
So we can understand why they have basically detached themselves from those projects. The big issue in our world, in our sector, is that people consider the adult space to be all equal. So, for example, in our case, it's highly regulated. We have over twelve pages of compliance. And something which might make people so laugh is that when, for example, an actress comes to us on set, there is basically like when you go and hire a car, there is this document where you have to, if the car has like a scratch or something, they put a circle around it.
Safety Protocols in Production
Now, we have the same thing in our industry where we have basically like a skeleton version of a female figure. And if she has a bruise or something, then we have to market. That surely came with a bruise, for example. So we have lots of, let's say, securities in place to help us and basically to, I mean, it's protection both for the actors but also from the producer side. But the main issue still always derives from the payment provider.
Challenges with Payment Providers
So they are imposing these kind of high taxes onto our world because they can, they are basically a monopoly. And that's why we are heavily pushing in the crypto space. So, I mean, our number one goal is also to implement and that's why we're also integrating with, going on centralized exchanges to make it as easily, I mean, to make it as easily accessible as possible in terms of crypto and crypto adoption. And that's basically our number one goal right now because we have many users who of course love the idea, they want to onboard and join.
User Onboarding Challenges
But from a technological standpoint, you know, it's clicking and doing multiple steps, registering and then doing all the steps basically off put stem. So we're also working on solutions to make it super easy to onboard people and start using crypto. And that's basically our number one goal right now. All right, so, yeah, I like that. You know, you have like a very, I would say, protective approach. So I do appreciate that.
Competition in Crypto Space
And moving on. So I think I would say like in the crypto space, in this sector specifically, are there any like big competitors that you are facing? And what would you say that you differentiate from a, makes you stand out from the rest of your competitors? I mean, there are some competitors. One I mentioned was this pokeme. And their biggest issue, they mostly focus on nfts and packaging adult content into nfts and selling them.
Challenges of Competing Models
But in terms of user experience, it's quite terrible because you don't get to see what you buy. And sometimes the price of these nfts can also be quite high. So when you think about adult content and that it's most of the time accessible for free, you don't really want to spend five, $600 on an NFT to find maybe a 1 minute clip, even if it's personalized, because you don't really know what's behind it. So that's why their model really didn't really work so well.
Focus on Virtual Experience
What we are trying to focus on is actually give a virtual experience through our platform where people can then learn, understand if they want to do this, but then with the use of LTX, they can also come in our studios.
Expanding Offerings
We're also working on expanding the places where we actually offer these, how can I say, workshops. Because right now we are doing them in Hungary and Italy. But of course, if we expand to the us market, we will also need to find partnerships within the US to basically be able to host such events also in the US or elsewhere. And basically our strong point is focusing on the experience side of things, that when you actually buy the crypto, you can also live an experience which is not just virtual. We also have the virtual side. We're also launching our 1st 800 NFT collections for our 1st 800 holders. But that's. I didn't really mention this because we already have 800 holders. So. So, but we will have other NFT collections in the future where people will basically also have access to certain events with nfts.
Integration of Virtual and Physical Experiences
So this is also something we are working on, is to really connect and integrate virtual with the physical space in a way that we've always been doing for the past 40 years. So with Roko's experience, we really know how to make these events, whereas lots of projects which are recently being launched are mostly focused on the tech side and not really on the user experience side. So that's, I think, where a strong point is. Yeah, I do appreciate that. I think that regardless of any industry, focusing on the user experience is always the most important part of any business and moving on. So, you know, I think I saw like, there's like a lot of viewers joining like during the halfway of this AMA and I missed out the front part. And would you like to give them like a brief summary of like, what is LTX to the users coming to the audience.
Introduction to LTX
Yeah, yeah. So for everybody who just recently joined, LTX is an adult based project. It's not a startup. We actually have an existing company working in the adult space for the last 35 plus years. And I am the son of Rocco Seferi. He's basically a known producer. He has also released a series called Super Sex about his life. So if you want to also know a bit more about him, then you can definitely watch that series to know more about this world in general. But basically, what we've been facing in the past five years is that Visa and Mastercard are trying to basically restrict or since they have the monopoly on the payment processing networks, they can charge super high fees on our contents, and they can also basically impose limits on what can or cannot be posted online.
Integration of Crypto and Payment Processing
So that's why we decided to diversify and integrate crypto into our project, because with the crypto, we can completely erase the fees. We're on the Solana blockchain. So with Solana fees and speed, we're able to basically develop and create lots of projects. All right, so, guys, you heard from Laurent, from our speaker. You know, I think that, you know, his project is, I would say, despite the nature of this project, I would say that this project has a lot of potential. And, yeah, I think, you know, Lorenzo Hills has been quite, really professional about the nature of his project, which I really appreciate about that. And moving on, right now, I would like to announce the second promo code of this for this AmA.
Promotional Codes and Community Engagement
And again, guys, I do want to remind everybody, if you guys want to claim some free LTX tokens, make sure to download our coinstore app through the app store and go to the Google Play store. Make sure to register an account so you can claim our giveaway through our coinbox feature. All right, so the second promo code is q, s, three, e, u, one. I'll repeat again, qs, a, three, e, u, one, j. So that is the second promo code for this AMA. Again, guys, make sure, if you're enjoying this session, make sure to follow us on Tony store on Twitter. Also, make sure to follow LTX Dandox as well. Yeah, I think we have almost reached the end of this MA session. Is there any last words that you might want to share to our audience?
Tokenomics and Future Plans
I mean, for people who maybe join there also in the last few moments, we can then maybe share. Also, again, the tokenomics of the project. So basically we have a supply of 80 billion and it's already all minted. And we have revoked all access so there's no freeze, there's no new minting. So from that point of view the token is secured. And as we said last time, we have staking farming incentive to increase the liquidity pool because for us it's very important also to have stable, decently large liquidity pool of 700 right now. But we're also of course wanting to expand on different centralized exchanges also. And the way this payout works on radio effectively is each year there is a halving.
Project Viability and Conclusion
So since the project is already over one years old, we had our first halving and in April we'll have our second halving and each year there is a halving until basically for five more years, effectively, and then the project will become completely deflationary from that point onwards, basically. All right, so I think we have reached the end of this AMA, guys, again, I want to thank Mister Lorenzo for coming up to our platform and giving us a very insightful session about his project. And you know, despite the nature of the project, I do think that this project has a lot of potential and I think Lorenzo is quite determined to expand his business to a lot of markets. I think he mentioned in us market as well.
Multilingual Expansion
And he plans to expand and become making his platform more accessible and more, I would say bigger. So the platform right now is already in three languages. Right now it's already in two languages, English and Italian. We also have for the french community french language, but we still need to enable it because we're missing some contents. But effectively the platform is, has multilingual capabilities so we can also expand in Spanish in the future or other languages for the future, basically. All right. Yeah, I do love, I do appreciate that you actually, you know, integrate a few languages as I think that would help for the expansion of your project as well.
Closing Remarks
And I want to thank everybody here for tuning in to our Ama session and you know, hearing both of us what we have to say about this project. And yeah, I think I've reached the end again. I want to thank everybody here and Lorenzo for this project for you guys time. And yeah, I hope to see you everybody here very soon. Goodbye everyone. Thank you. Bye bye.
