Space Summary
The Twitter Space Yay!’s Roadmap and Beyond hosted by Yay_Global. Delve into the roadmap and future of SocialFi with Yay!'s experts as they discuss crucial aspects like community engagement, partnerships, tokenomics, and regulatory compliance. The space provides valuable insights on building successful SocialFi platforms and driving user participation through innovative features and strategic planning. Explore how Yay! leads the way in the SocialFi industry by focusing on user-centric design, partnerships, and community-driven initiatives.
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Space Statistics
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Questions
Q: How important is community engagement for SocialFi projects like Yay!?
A: Community engagement helps in building a strong user base, fostering loyalty, and driving innovation within SocialFi platforms.
Q: What role do partnerships play in the growth of SocialFi applications?
A: Partnerships enable access to new markets, resources, and expertise, enhancing the scalability and impact of SocialFi projects like Yay!.
Q: Why is strategic roadmap planning essential for the success of SocialFi initiatives?
A: A clear roadmap guides development efforts, prioritizes features, and communicates vision to stakeholders, crucial for achieving project goals.
Q: How do tokenomics influence user behavior within SocialFi platforms?
A: Tokenomics incentivize desired actions, drive engagement, and reward participants, contributing to the vibrancy of SocialFi ecosystems.
Q: What considerations should be taken into account for regulatory compliance in SocialFi development?
A: Adhering to regulations ensures legal legitimacy, builds trust with users, and mitigates potential risks for SocialFi projects like Yay!.
Highlights
Time: 00:15:52
Strategic Roadmap Planning Insights on the importance of strategic roadmap planning for the success of SocialFi ventures like Yay!.
Time: 00:25:40
Community Engagement Strategies Discussions on effective community engagement strategies in SocialFi platforms.
Time: 00:35:17
Partnership Success Stories Exploring successful partnerships that have propelled the growth of SocialFi projects.
Time: 00:45:09
Tokenomics and User Incentives Analyzing the role of tokenomics in driving user behavior and participation in SocialFi ecosystems.
Time: 00:55:30
Regulatory Compliance in SocialFi Understanding the importance of regulatory compliance and risk management in SocialFi development.
Time: 01:05:20
Innovative Features and User Experiences Delving into the significance of innovation in features and user experiences for SocialFi platforms like Yay!.
Key Takeaways
- Strategic roadmap planning is crucial for the success of SocialFi projects.
- Community engagement plays a vital role in shaping the direction of SocialFi platforms like Yay!.
- Innovative features and user experiences are essential for the growth of SocialFi applications.
- Partnerships and collaborations are key for expanding the reach and impact of SocialFi initiatives.
- Tokenomics and incentive structures are pivotal in driving user participation and retention in SocialFi ecosystems.
- Regulatory compliance and risk management are significant considerations in the development of SocialFi platforms.
Behind the Mic
Introduction and Anticipation
And we're back. Apologies for the slow delay. Excited to get things going. We'll play some music as we get people tuning in right now. Set the five. It's Wednesday morning. It might be evening where you are depending on the like and retard the space as we get this thing going and we'll see. This was never after many I'm trying with somebody make a shout out about it.
Welcoming the Guests
Gm Gm welcome back to another space joined with. Yay. Super excited. This is the second space that we're doing since premiere one. Kind of introducing what ye is doing as they enter the space alongside the elderly built on top of. So super excited to kind of get this going. Ishii, welcome. How are you doing, my man? Yeah, thank you very much. Thank you for great music. Anyway. Yeah, I love it. Appreciate you, brother. I thought set the tune a bit with some chilled vibes as we get started. You know, we spoke about a lot of different things last time, so I definitely want to kind of break more things down that you guys are building towards.
Engagement with Audience
And definitely, you know, you guys have definitely the right intentions as you guys build in this space. So looking forward to that. We also got some chads up on stage. Sanjay, welcome. How you doing? Doing very good. Yeah, let's go. You know. Sanjay, where are you now in the world? Are you still in Singapore? Are you back home now? No, I just. I left Singapore last week and I came to India to visit my mom and then in two, three weeks back to Dubai and then we'll lock in. Locked in. Amazing. Nice. Devin, my brother from the UK. How you doing? Oh, very good. Appreciate the invite. Looking forward to this one. Let's go. Also, another good friend from the London city, May.
Collective Memories
How you doing? Hi, shiv. Hi, everyone. So glad to see you guys again. It's been a while. It has been a while. May, I miss you when were in Asia, but I hope you're doing well. I'm so sad I couldn't join the Singapore event, but I hope you guys all enjoyed it there. I've seen a lot of pictures, heard a lot of great stuff about the events over there. It was truly incredible. My favorite. Knox. It's always a pleasure to talk to you, my man. How you doing? Hello. Hello. First of all, the Clems Casino song pick. Jesus. You stumbled upon one of my favorite artists of all time.
Discussion on Music and Excitement
I listen to Clems casino all the time. A super awesome producer. If anybody doesn't know, definitely look it up. But also, God, super happy to be here. Super excited to dive into Yay and the sonium partnership and all of that stuff. Yeah, I've been doing a little bit of initial research. I'm so excited to learn more, though. Let's fucking go. Knox, you always have a good appreciation of the music I played at the beginning. Thank you for mentioning it. Unlike everyone else. But only kidding, jokes aside, appreciate you coming by, Knox. Always pleasure to be hear your beautiful voice. Now, I want to get straight into the meat.
Getting to the Details
You know, you guys are tuning in right now. You want to know the alpha, you want to know what's up and what's happening with Yay and sonium, right? So usually last time we spoke, you know, you kind of introduced, you know, what you guys are doing at yay. You know, how you guys in that space with such a massive bank, you know, massive partnerships and massive raise and obviously, you know, being built on Sony, which is, you know, coming from Sony itself. So I think the next major move is, you know, introducing the NFT collection for the platform, as you guys mentioned last time, but we didn't get into the details too much.
Understanding the NFT Collection
Right. Can you give us a bit more of the purpose and, like, of this collection and why the function it will hold within the ecosystem? Oh, so nft things first, right? Yeah. What were you guys introducing? Yay. I. Sure, sure. Okay. Overall, yeah. So thank you for everyone coming this mn. And also, yeah, Cody is also coming from the satellite Chin. So thank you for coming. And later. You skip me last time. Cody. Cody. Okay, okay, listen, listen. This is my reasoning why Cody says listener underneath his name.
Introduction of New Voices
Okay? So blame Twitter, not me again. Cody. Hey, it's only talking to you again, bro. Hey, how's it. How's it going, everyone? Thanks very much for joining. I'm Cody from Starto. Today. I would like to speak about, you know, a bit about sonium and maybe a bit about mass adoption from the starter point of view. So thanks very much for coming once again and super excited. Thank you. Okay, yeah, my time, right? Okay. At first, maybe some of you don't know about yay much, so that I gonna introduce yay first.
Explaining Yay
Actually, the yay is a social file platform and we have the 9 million user base and also 100,000 community inside the platform. And it looks like X and Discord mixed application. And we launched yay four years ago. And we started from the web two, but nowadays we try to integrate the tokonomics in our application, then try to make onboard our web two users to the web three. Then the point of our tokonomics, we separate experience into two. For the service users and also web three users.
User Experience and Integration
And for the service users we try to make sure it's quite easy to use related token and earn inside the platform so that we try to aim almost a similar UX as web two, then make sure everyone can onboard easily. On the other hand, for the web three investors, we try to build a different dashboard, looks like DeFi, then everyone, you know, through the dashboard, everyone can do the staking and the liquidity providing and also NFT trading through the dashboard. So that the point of view, we completely separate the service users and investor users. This is a huge difference between the other application and also inside the platform, we also integrate the NFT.
Types of NFTs in Yay
So there are two types of NFt, the genesis NFt and the power NFt. Then genesis NFt is a loot NFT and also limited supply. So that super layer NFt and that NFt can mean the power Nft. Power NFT is play to earn Nft inside a platform. So that user can enjoy play to earn through the platform by holding the power NFT which looks like Tamagotchi or looks like Pokemon, like cute NFT inside a platform. Yeah, this is kind of overall, yeah, I love it.
Concluding Thoughts on Yay
I wanted to take a bit of a step back. Right. And I appreciate you giving us the rundown on what you guys have installed for the collection itself. But pardon me, we understand that Yay is a Sochifi app, right? Yes, yes. And we briefly touched on it last time, but obviously as time goes by, we've seen attempts of social fire, many different, other different brands. Right. You know, we've seen everything from friendtech to arena to a bunch of different ones. Right. And we've seen these attempts go pretty viral.
Building Community in Gaming
Let's say, you know, Apex Legend, let's say Fortnite, let's say Minecraft or you know, they play the game together through the boys chat and extend information. Of course someone talk about NFT, talk about gamify, whatever these kind of things. But what is the most important part is building real community. Everyone enjoy the platform without the financial incentive. This is different. So that what I feel the most successful social file is telegram. So actually the telegram has a real community, real user base and chatting service. However, they also have the long history to build so far. Then that's why they have really strong user base. And by using that user base they are building tokenomics through the platform.
Sustainable Growth Models
Then, you know, top game or decenter. So you know, we are, you know, try to build first community, then after that we try to build the tokenomics. This step is quite important. And the second one, what we are thinking is how we can make a sustainable model. Which means Pongie like tokonomics will not, you know, work from my view as a social flight platform then, or more like after that airdrop people cannot keep using the service or something. So what we are thinking is how we can build a sustainable, then how we can get the external revenue through the platform. This is quite important. For example, for yay platform we already have certain amount of the revenue from advertisement, gifting and subscription. Then we plan to distribute back as a yield to the, you know, our web three users.
Insights from Social Fi Dynamics
So we can aim to build sustainable yield model, you know, if we compare with the other social file. So this is a key difference between us and the other social file. Yes. Love it. I do want to ask the panel, you know, when it comes to social fi, what's something that perhaps interested in something that they want to see perhaps improved in the social fire scene? Knox, you got your hand up. I love to hear from you when it comes to kind of this topic and what you perhaps want to see from, you know, the next up and coming social fire apps. Absolutely. And I can speak actually from a very good position as well because, you know, working at Kibi, we also have, you know, the, we have the same conversations going on in the background.
The Importance of Engaging User Base
Right. It's actually really interesting when you had this huge narrative around social quests, social farming, all this stuff, and it always tended to lead to an airdrop that people would get. And then as soon as that airdrop was over, it felt like such a hard stop, right. And occasionally when the airdrop was disappointing to people or things like that, it ended up actually, you end up kind of shooting yourself in the foot. So one of the biggest conversations that we're having here is like, okay, we've actually developed this huge user base. That's one of the most interesting things I think about these social tasks and quests and things that you can do is that you end up with not a small crowd on our side. On mon side on lots of other platforms, you get to millions of users. That's no small amount.
User Retention Challenges
You've got literal armies of people that are doing quests. So the question is then, and the hardest question to ask is, how do you get those people to stay and or how do you get those people to then, you know, provide value for you in the same way? There's a lot of potential, you know, ideas that get thrown around. You know, hey, we can, you know, give posts like so many likes and give accounts, so many follows and things like that. But of course, it ends up getting a little bit deeper. And I just wanted to, you know, first off, directly to Ishi, say that it's, like, so refreshing to hear that people are actually having these conversations at the back, that the long term thing and what actually comes after this entire thing is one of the most important conversations that you can have because that's already what sets you apart from everybody else.
Learning from Past Experiences
So, yeah, that's kind of just to open up as the space is just getting. I think we've all seen our fair share of social fi platforms. we've seen what works. We've seen what doesn't work. I think there's a lot already to be learned from all of this. And, yeah, I think we're kind of in the process now of seeing that evolution, that next generation of social fi things that actually take the long term into consideration. So I'm super excited to see it. Ishi, kudos on just the direction that you guys are taking. Very excited about that. And, yeah, we'll see what the future holds. Let's see if we're right or wrong. Thank you.
Staking Campaign and Future Prospects
Definitely appreciate the take. Knox. I do want to ask around a few more of the panel speakers. Sanjay, first of all, Sanjay, did you ever play around the boom of a lot of these social fire apps last year? Yes. Yes. I was actually really deep into a few social fi apps, like Friendtech and then Star Arena. I think that's what it was called on Avalanche. So, yeah, I had my fair share of ups and downs in there, but it was, it was a very refreshing idea at that point. But then, but then like Knock said, right, like a token launch happen and then there was nothing else going on after.
Challenges Ahead for Social Fi
So yeah, super bullish on projects were actually thinking further than that and not just like getting stuck, not just like staying in a loop of just farming, farming, token drop and then nothing else. Right. Because I do believe that social fi is very important because attention is currency now and you know, the sooner we actually convert it into real currency, I think it's just going to change the game. But yeah, need more better teams and bigger teams to kind of flush out. The real product in my opinion, 100%. I definitely appreciate the sake. I think what we saw was typically what you see with a lot of metas, see a north star and then you see a lot of other perhaps derivatives come out of it or whatever it is.
Market Dynamics and Trends
And typically you know, it is pretty unsustainable. And you know what we've seen recently with Friendstech for example is you know, they revoked the contract. B and I don't want to say they blogged, but essentially kind of gave up and moved past and given back to the community. So it's definitely interesting and very curious to see I think the concept of social fi, a lot of people say it's dead. I truly think nothing's ever dead. I think it always find and definitely improved when it comes to any sort of concept. Anytime you hear anyone say something is dead in the space, a lot of the time you can counter trade it because oftentimes metas or whatever it is definitely do come back in a better fashion.
Introduction to the Staking Pool
That being said, I pinned something interesting to the jumbotron. The stakestone pool has been filled with 3000 eth by the pool is open partnership with help Dao Ishii. I'd love for you to kind of talk a bit more about this. What is it? Yeah, so actually we are doing the staking campaign right now and also you know, we can deposit this and in the future we offer the user to bridge the asset to the Sonyum one Sony main lady. So that's why in the future it could be the liquidity on the sonium and yeah, by the way, just ten minutes before for the AMA start, we are, you know, our user, you know, or our supporter complete 3000 e's for the stakestone.
User Support and Future Launches
So thank you very much for, you know, staking your ease and commit to our board. Thank you very much. Really appreciate, thank you. Definitely, I mean that's massive Arian. Yes, thank you. Yeah, and still, you know, kelp bolt still, you know, accepting the deposit. So that. Yeah, please. Yes, that's it. I mean, 3000 is definitely not a small number at all. You know, that is massive testament to, you know, what you guys building as a product and obviously the conviction that people have behind it when it comes to something like this. Now, you know, staking is a big part of your early activation.
Future Developments of the Platform
Right. And how is this developed so far and what is perhaps, you know, this building forward towards? Okay, so yeah, as I said, we completely separate the users, let's say web three investors and also our service users. Then for web three user side we did a staking and we tried to adding, you know, let's say in the future possibly BTC board, USDC board and also providing liquidity providing to the community. Also we're going to providing the NFT trading kind of trading mint and sell dashboard later on. This is for web three users. So we try to aim defi like Ux for the web three users.
Upcoming Launch of Testnet
Then get the yield from of course from the crypto world but also at the same time our business yield as well. Okay. However, this is for the web three user side. But from now we also try to build users experience. And actually in the mid of October we're gonna launch our testnet on the Sony which means that, you know, we are almost fully building almost all of the function so that we gonna launch in the testnet of the Sony, which call which name is Minato soon. Then after that we also plan to do the user side. The point forming then we try to push our users, really use our functionality and really enjoy earning the token through the platform.
Separation of User Experiences
Then we can check how much user can onboard once we go to the mainnet, something like this. So that we separate milestone from now on for the web three users is we keep building anyway and also make it defy like experiments as much as possible. On the other hand, for the service users, we try to make sure the user can use token related function not different from the web. Two experiments. This is what are we going to go?
Integrating Partnerships and Technology
Yes. Now something you mentioned right there is, you know, built like, you know, this coming out on Sony and Tesla right now earlier on, right. You guys through some big hits with the partnerships, you know, that have been announced such as, you know, layer zero, world Coin, Sony. How are you guys looking to, you know, work and integrate each of these partners into perhaps what you guys are building at? Yay. Yeah, sure. Actually for the layer zero we have the several assets in the mainnet and that's why we bridge the Android messaging to the sonyum side.
Leveraging Partnerships for Growth
So the mainnet and layer to Sony as a messaging tool we use layer zero. Okay. And for the world coin actually for the social platform, as you know there are a lot of bots accounts coming in. That's why by verifying the world coin side we allow user to merge prior points inside a platform. That's why if user prove they are human they can get certain amount of the merge prior to earn the points in the testnet of the Minato. Okay. This is world Coin related things and yeah, Sonjumi is most hugest and important kind of partner here through our platform.
Vision for Mass Adoption
Yes. And we can deploy. Yeah. And we try to integrate and try to aim mass adoption together. Yes. Love it. Also had TMA just pull up onto the stage. Tmaso, how are you doing this morning? Yo, good morning. I'm sorry I'm late. I had another call that I had scheduled. But thank you for having me, chev. I'm doing great. No worries. Hope you're doing well and I appreciate you coming through with your schedule and definitely dad duties in this morning.
Exploring Chain Dynamics
So I appreciate you coming. Dimi, I got a question. This has been the topic about. Yay. Definitely a up and coming and very exciting certified app being built on essentially Sony's l two. With a lot of these discussions around different chains. L two s, l one s three sdhe. You know what is something perhaps you're looking forward towards or perhaps a concern with a lot of these different chains coming? What is something perhaps you're noticing when it comes to this? I think one of the biggest thing is the fact that whenever a new l two comes into play, it kind of attracts attention away from any of the change that we're active on right now.
Balancing Chain Growth
Right. Like so as more and more l two s, more and more l three s coming into the space builders are building, which is always a good thing. People are messing around with the technology, discovering new things. Right. Like so we're definitely moving ahead. But what it does is it really dilutes the volume down from one chain down to several different chains as well. Right. But what I'm hopeful for is someone like, for example, yay. Coming into the market. I would assume they have web two ties, they have a user base as well, and they'd have some sort of plan to attract that user base onto their online platform.
Expectations from New Entrants
Right? Like so. Whereas l two does, I think, to a certain level, dilute the volume from different chains. I think if a web two company comes in and actually brings an l two and has a solid user base along with it could also potentially be a gateway for many new users to be onboarded. So that's what I'm hoping for, considering that Yay does have some solid backings and some good partnerships under their belt. Oddly enough, just last night I staked on ya protocol on the two platform, on the two pools. So let's see how that plays out. Yeah.
Introduction and Overview of TMA
Thanks, Ashi. Let's go. TMA is part of the giant stake pool that we have painted above. I appreciate the take, TMA. I actually do want to fire this question to seven as well. Seven, given your position at Alphaboy, you've definitely worked a lot of different projects working across a lot of different chains, right? You know, from everything from Ethereum Mainnet all the way to Solana and everything in between. And with the uprise of all these different chains, you know, coming out with their own purpose. Right, from everything Monad abstract. Now, yay. Being built on Sonium, how do you kind of take this, you know, approach where a lot more chains are coming out? How do you kind of see this?
Contributions from Seven
I'm going to echo what TMA said. I think he said it really succinctly. It's good for the ecosystem. It's good. Web three as a whole. We're supposed to be pioneering. We're supposed to be moving fast. We're always developing. It's great that we're having builders focusing on different chains, different layers. From an Alphabet point of view, as you probably well know, Shib is we try to stay at the forefront whenever we see a chain. We might not adopt it straight away, but we keep an eye on it. We see how things are going and see how it develops. If we feel there's value in supporting the ecosystem, we'll integrate it within Alphabet. It's in our interest. It's in their interest.
Querying Issy about User Engagement
I do have a question for Issy, if you don't mind. Shiv. Regarding. Yay. I was listening to what you said and I'm going to echo what Sanjay and TMA's and what Nog said. It's exciting to see what you're building. My question, I guess, is more about user attention, the user retention and attention. You mentioned you're doing staking. You mentioned you, I think you mentioned you were doing farming. All of that will get the initial boost. You already have stacked backers, which always helps. My question in a roundabout way is what happens after that? Now, you may or may not have the answer, and it's perfectly not to have the answer, but. But I'd love to know what the plans are, you know, is the staking going to go on forever or what happens beyond that? What happens beyond the initial 3000 e stake? You know, we get these rewards. I'm sure you've got plans in place and I'd love to know more about it.
Shiv's Response
Sure. Okay. So at first, you know, where we go is, you know, okay, the service users anyway keep enjoying our service and also, you know, getting the certain amount of the token as a financial incentive. Then our services are gonna be happy for the first airdrop or first earnings through the platform. But for the web three users, how we aim is we try to build like, you know, Pandora like structure, which means without airdropping, everyone keep using Pandora because they can get the high yield as much as possible. So where we aim is such kind of situation. So therefore, web three investors can mint NFT and sell. Can mint NFT and sell. The only web three investor can mint the NFT and sell to our platform users. That's why they can keep getting the certain amount of profit through that kind of action.
Yield Strategies and Sustainability
Also, they can get the yield from the staking activity, which means that they can get the certain amount of, you know, the other platform token, of course, yay. As well. But what I'm thinking is the yield can be a different service platform token as well. Which means, you know, actually for the StakeStar, staking users can earn stakes on points and eigen layer points, symbiotic points and the metal points. So that these kind of points and token also can be one of the yield for the investors. That's why we try to collaborate more projects and also keep sustainable earning through the platform. This is the point. And the other point is because we have the user base. That's why we have the certain amount of yield from our revenue, such as advertisement, such as gifting, such as the subscription.
Maximizing Yield and User Engagement
So that what we are approaching is either way, you know, staking and liquidity providing or NFT minting and selling. We try to aim to high yield as much as possible. And this should not be our more like airdrop, more like sustainable revenue for the web three investors. Then we try to aim high yield as much as possible. So that ultimately what we are thinking is web three investor do not want to play the social or do not want to play the game or do not play the entertainment. Something, something more like they have the first priority should be high yield honestly, so that we try to make sure. Okay, so web spring investor wrap the yield. That's why we try to provide.
Creating Sustainable Ecosystems
However, please provide a liquidity please provide, you know, such kind of, you know, trading volume in the NFT or trading volume for the tokenization. If so user are happy then user keep providing yield to the web three users. You know, service user keep building yield to the web three users. So this kind of, you know, connection or this kind of ecosystem building is quite key from my view. That's why we try to do it. So that sorry bit. Long story. So I want to add one more example. You know, last ama, I also mentioned Pokemon card ecosystem. For the Pokemon card ecosystem there are a lot of users. Then users enjoy the card game. On the other hand, there are a lot of traders and a lot of collectors.
Importance of Liquidity in Ecosystem
But funny thing is the trader and the collectors don't know how to play the card game. However, they try to aim the arbitrage and they try to provide the liquidity. Then finally the user side card game user side is quite happy because their card can be expensive. Pikachu card can be two times price than the user purchased before. And also when user quick card they can sell because there is a liquidity by trader. So that as an ecosystem this kind of relationship are quite important. So that web three users focus on the yield and also provide the liquidity. Of course, they love the service, please use it. Of course. However, our first priority is how we can build sustainable yield for the web three users.
User Experience and Service Satisfaction
This is our first priority. On the other hand, for the user side they enjoy just enjoy. But they can also much more enjoy than before because there are certain amount of liquidity from traders, from collectors, from the NFT minters. So that's why user side also going to be happier. So this kind of ecosystem is the sustainable and also where to go. Yes, I appreciate the answer, Shiv. One more question then I'll shut up for a minute. I hope you don't mind, brother. The question is, you mentioned the NFT collection. This is almost the second question I'll ask you. A prelude to that question is you mentioned that only people that have invested within the platform can mint the NFT collection.
Clarifying NFT Minting Conditions
Did I get that correct? Yeah. Which means that we provide genesis NFT which is a limited supply. Then only the genesis NFT holder can mint the power. You know, PoW is a play to own NFT through the platform. So the limited NFT can sub limited NFT holder can supply the play to earn NFT to our platform. That's why, you know, for the play to earn NFT. It's quite fun, honestly, quite fun. You know, in the future I really want to show the demo but you know user quite love it and enjoy it then earn the token. On the other hand, for the web three investor side they should have the genesis NFT then they can mint PoW.
NFT Marketplace Integration
With certain amount of minting cost then cancel in the NFT marketplace integrate in the yay platform or Genesis NFT holder mint up, you know, NFT. And also after that they can do the farming. Then after that genesis NFT holder can earn the yield as yay governance token. This is also possible. But anyway structure is a limited NFT holder can meet the play to own NFT then play to own NFT should be sell in the NFT marketplace integrated in the yay platform. This kind of structure we have. Yes.
Future Opportunities for NFT Holders
Okay. I appreciate the answer. I know maid's got a hand up. So one last promise. Yes. Everybody in this audience, they're probably going to ask the same question. They want to know is how do we get hold of how do we get into the ecosystem, how do we get these NFTs? Is it possible to get these NFTs or are they existing holders? Okay. Right now we do not supply yet so that, you know, everyone has a chance so that we have the several applications. That's why right now we already announced one thing, which is the stakers.
NFT Distribution Insights
We're going to distribute that genesis NFT to the stakers. So this is already announced so that once you join the, you know, overstaking campaign and provide ease and in the future this is going to be liquidity on the Sonium. But, you know, if you provide ease right now you can, you know, entry for the getting the genesis NFT at all. Okay. All right. So like for example, TMA is just invested. So is he applicable for the NFT? Yeah, possible. However, you know, we are checking, you know, how much the staker earned the gold and how much staker stake is. Which means that genesis NFT is a limited supply.
Conclusion and Next Steps
Actually the total supply are 5000. But at the beginning we limited supply, let's say 500, 600 or such amount. That's why. Yeah, only limited. Yeah, I could monopolize the whole hour. I'm not going to do that. TMA's got his hands up. I'll shut up ship. Let me take control, brother. TMA. Feel free to take it away, brother. Yeah, I just had a follow up on the. On the back of seven's question here and was wondering, can you elaborate more about what Sonium's doing, what the purpose is like, you know, what the intentions for the future are. Just educate us a little bit more about that.
Background on Sonium
Yeah. So Cody. Yeah. Could you. Yes, yes. Why not provide a bit of a background about Sony. So Sony is an ETH based L2 chain using OP stack. It's been developed by this company called Sony Block Solutions Lab. It's in joint venture between Sony Group and Starto. And Starto is the company that I'm from and we're handling the operations side. I would say Sony's vision is to realize the. Sorry about that. I realized the open Internet, right at the moment I. Oh, can you guys hear me? Yeah, I can hear you. Sorry, right at the moment I started speaking, my Internet goes like, I'm not working anymore.
Sony's Mission and Recent Developments
Okay, so, yes, the Sony's mission is to creates the open Internet that transcends boundaries. Yes. And we just launched the testnet, like, oh, now that we're talking about it's been a month since we launched the Testnet timeflights. Really? And we opened up the Sony incubation programs. It's called Sony Spark. We had 1700 applications as such. So. Yes, that's like the current situation with the Sony. Good 1700, yeah, that's a lot. Yeah. I don't want to take too much time, you know, with Sony backgrounds and stuff. Feel free to check out the Sony account. All there is that you'd like to check out, it's likely to be there. So I don't want to take too much time with the basic details. Thank you.
Impact of Sonium in Web Three
Thank you. Appreciate it. Jumping on just like one more question on Sony. We were discussing all these different chains and how do the creative ability still feel about these chains built and obviously coming into the space. Overall, it is a positive sentiment. Now, when we think about sonium, what were the impacts of sonium has made in web three so far? From the perspective of a builder on Sony issue, I think this is a great question to ask you. Oh, me? Yeah, yeah. Okay. Explain a bit. Yes. So again, we have, we opened the incubation program application for about like a month or so, and then we had 1700 applications. And I'm telling you, it was hard to go through all the applications. I was part of the dating community along with the three different people. That was, that was a hectic process at the same time.
Marketing Success and Future Announcements
At the same time, you know, as a blockchain, you know, foundation. Nothing is more happy, nothing makes more happy than the fact that builders are actually, you know, bullish about Sony. Right. The number of the application shows it. So that was one thing. And, you know, speaking about the marketing side, I'm from the marketing team, by the way, impressions that we had for the brand launch and both the Testnet and the incubation program announcement had more than 2 billion impressions. I'm sure there's double counts too, but it's still impressive numbers within 24 hours for both announcements. And we have like more than way much more than 500 media coverages. So we're making, we're getting the attentions both from the user side and developer side. So I would say that's an impact that we made so far. But a lot's cooking along with all the promising information render project that will be announced soon.
Challenges in Mass Adoption
So stay tuned for the further announcements and I'll pass it on to you Ishi, for the builder point of view about this. Yeah, so from my view, actually what we are thinking is Defi is already quite good and infrastructure is already good enough, you know, retreat because of eigen layer. Gatsby is quite expensive, but normal day is already okay, even though that is remaining. So what I'm thinking is, you know, TPS competition for, you know, chains are already almost done. Honestly then what I feel is that this is almost time to go to the mass adoption. From my view, let's say Telegram that bring the huge amount of users to the web three. This is quite impressive. And what I also think is utility is quite important for the blockchain world because everyone focused on TPS.
The Role of Sony in Web Three
Everyone focused on TPS, but Gatsby is quite cheap already. That's why utility is quite important. How much users use the service and how much user build a transaction on the blockchain is quite important. Then this kind of error is started from my view. So what I'm feeling is Sony is one of the main, honestly they have the potential, huge potential to build real mass adoption from onboarding billions of users from web two to web three. Actually Sony is bigger than Coinbase and actually they are entertainment company. They attract a lot of the user base. Then if they focus on building mass adoption 100% people should select. Honestly, this is my view. But I also really aim onboarding users from the web two to web three then completely same direction as the chain.
Mainstream Adoption Discussion
That's why I really bridge for the Sony and also try to go mainstream together, honestly. Go mainstream it is. Yes, go mainstream. There is talk about mainstream adoption, right? Mass adoption, whatever you want to call it, right. It has somewhat become a buzzword in our industry. You know, when you take it back, you know, when the NFT boom happened, you know, it's really stemmed from then to the point where a lot of these projects are perhaps talking about mass adoption in their own ways. Right. I. Now, what do you think is really needed to pursue mass adoption for the space right now? How are you guys doing things integrating these concepts into yay for actual true mass adoption?
User Experience for Mass Adoption
So, yeah, you say PHP NfT or telegram top game. What I really think is these kind of things push the web two user to web three. On the other hand, what I'm thinking is that level of ux are needed, so that level of the easiness is quite important for the web two users coming to web three. It's impossible, honestly, uniswap or it's impossible, let's say pando, it's impossible for, you know, such kind of defi, you know, quite hard for the normal users, just PhP NFT, just top game. That kind of usability is required for go to the master option. However, as I said, if we do it, you know, many of the web three users don't want to do anymore, you know, such kind of simple things.
The Future of Web Three Integration
They really want to have the, you know, yield and also they really want to write the math and really like trading, really like, you know, define integration or something. That's why what I'm thinking is separate. Of course, in the future, web two users gonna be web three users. And also they ran, you know, two years ago, three years ago. I'm saying, you know, we started the profit picture NFT, but gradually understand how it worked for the crypto world. Then glow day by day and sometimes almost stolen the finder or something. Anyway, a lot of steps are needed to be the real web three soldiers. So that what we are thinking is we should separate experience as much as possible.
The Gap Between Users
Then for the mass users, we should aim the Ux like top game ux like profit picture like NFT, you know, such label. This is what I'm thinking. Yeah. And do you think, okay, so if mass adoption is the goal, why do you think web three users matter if it's to include. Right. So in the future, do you think there'll be the distinction that remains that we have right now, you know, web three and web two users? Or do you think it's just going to be integrated into one whole piece of. Yeah, which means that, you know, it's a gradation, which means the web two user cannot be web three user soon.
Transition from Web Two to Web Three
It's quite rested. Two years needed to run many things. So the web three current web three users are, you know, already have a lot of knowledge and a lot of, you know, the understanding a lot of things in terms of the blockchain, in terms of the financial things, in terms of the trading method, so that in order to be real web three users from the web two users, we need to wait two years. So that what we are thinking is at first we try to build the entrance for the web two users. Then of course, we try to provide the, how can I say, the community. And also inside the community, they run each other, you know, and, you know, this kind of step and take the two years or something.
Building a Unified Community
Then in the future, they must be the web three user. So that in order to fill the gap between the web three users and the web two users, our direction is we try to separate the role inside a platform. However, in the future, it could be merge or more like it could be gradation. So that, you know, the future, maybe we need to provide more roles, not, you know, too low, let's say, web three users and the service users, more like, you know, five or six or seven or eight law inside the ecosystem, then building and the ecosystem and expanding ecosystem or something. This is a yemenite kind of future of the tokenomics or future of the crypto, you know, crypto service.
Final Closing Remarks
Yeah, this is what I'm thinking. Yeah. Now, Cody, you got your hand up. Take it away. Yeah. I just wanted to share my take on the last one, my personal opinion. But whenever the mass adoption of the web three technology happens, I think it's not like web three community will not, no longer be needed. But I think, again, I'll come back to the Sony mission as well. But, like, by the time the web three technology has, like, must have, like, transcend the boundary between web two and web three as well. So I don't think it's like, you know, the web three community is now going to be needed, but it's more like by the time it's being used by the billions of people, we just simply don't have the need to differentiate the user base between web two and web three.
Understanding User Base Distinction
Like, you know, we don't define the current Internet users as web two users. I mean, at least, like, they don't call them, call it themselves. Right. So I think I have, like, a slight different take than issue. So I just wanted to share that. Yeah. And I think I got just one final follow up question from. Just said that. Right. And that is, you know, one thing that web three, you know, companies sometimes do is get tunnel vision in terms of just aligning incentives with web three, rather than the masses. We understand that crypto native users incentives sometimes differ to what actually the masses, you know, how are you guys approaching the balance between these incentives?
Sustainability and Balance in Incentives
Me, right. Yeah. So you could take it away. Okay, okay. Yeah, but it's quite important part. But you know, of course, you know, at the beginning we talk, if only airdrop, it will not be sustainable. That's why as a service we need to keep, you know, keep building better and better. Of course, as a service itself. On the other hand, financial incentive is quite good for the marketing as well for the gathering users. So that, yeah, you're correct. You know what the balance we need to analyze and we need the science what the balance should be. But at least what I'm thinking is sustainability is quite important for it.
Creating a Real-World Impact
So that building crypto yield or real business yield, whatever we try to build sustainable yield, then this will be back to the users or this would be back to the investor. This is a quite important concept from my view. Yeah. Fantastic. I think it's a great question to wrap up on because oftentimes when different products being built in this industry talk about mass adoption, talk about building for the grand scheme of people, really the consumer, their incentives speak the opposite from what they do. The incentives really just align from typically what we see in the space within this echo chamber that targets towards the crypto native such as ourselves.
Innovating Beyond the Echo Chamber
Sure, it's fantastic. Oftentimes you see great results within the people in this industry, but we're not innovating here. We're not shifting the paradigm, we're not changing what we're doing. In fact, we're just, you know, perhaps pvping on each other or just, you know, recycling money within the same group of people. And oftentimes the people kind of worry about, talk about, hey, how is our industry not moving forward? But you look at the incentives, they're not aligned with what actually people care about, but more so if you know, so definitely it's something interesting. We know when you talk about mass adoption, how you aligning incentives between the crypto natives, but also the true masses out there.
The Role of Social Media in Web Three
And I'm really looking forward to seeing how this is done on the social file level. I think Sochify is yet to be and I still believe it's going to be incredibly important and huge when it comes to the next level of social media where, you know, everyone talks about tokenize everything, this is truly it. But how can you do it at a sustainable level where the bubble doesn't burst? You know, that's something I'm looking forward towards but ishi I appreciate your time. Everyone else I appreciate your time. Sanjay, TMA, Devon Knox, Cody appreciate you guys pulling up.
Looking Forward to Future Developments
You know just kind of talk a bit more about kind of the future of social flight sonium a bit more on the l two as well and what to really expect when it comes to you know pushing our industry forward. Really looking forward to seeing what's next issue. Any final words at the end? Right final message? Yeah. Yes, yes. Yeah so thank you for everyone coming today and really appreciate everyone really and yeah we keep building our ideal social file and also we try to build great social on Sonyum so that Sony is on the testnet phase and we also deploy our application side on the Sony.
Staking Campaigns and Future Updates
So please stay tuned for the future update then please looking forward to our future news as well. And also I really appreciate for everyone for participating in the staking campaign. Really appreciate then in the future it could be the liquidity on the sodium and everyone can enjoy the social activity through the platform then yeah really appreciate and if you are interested in more we have the one more board so that please. Thank you.
Conclusion
Let's go. Amazing and I'll talk to everyone soon. Take care guys. Remember you fancy holding laden my.
