All right, hello, hello Jay pigs very good to have you here. All right. We have Jay finance here now big welcome to you guys. We're really excited to be doing this AMA with Jay pigs.
Okay, now let's go ahead and get started. I'll tell you what, real quick, could you please, I've got my co-founder here with us. He's be, he's be eyes. Could you offer him speaker please?
Absolutely, absolutely. Now, how do you spell his name again? It's Ilius, but it's going to be B. See his, let's see, @ILISSS_BB.
Could you possibly send me that in a message by chance maybe on Telegram? Yeah, I can do that one second
Perfect, that would speed things up.
Hi everyone, all right. All right. Here we are now be eyes Welcome to the AMA. We're super excited to have you here now. Let's go ahead guys and just get started now. Hi guys. I'm Lance
I'm a community builder with awardee. We update the latest information on Aurora about the ecosystem. We analyze data, analyze projects, and provide instructional content. And we also support users on how to use and integrate into the ecosystem. Now, welcome to the wonderful AMA with Jay Pig's Finance.
really looking forward to this one. Now, I want to ask you guys maybe to just introduce yourselves, JPEGs and BI's and please let us know about your project a little bit. Sure. So, my name is Ilya S.I. and the founder of JPEGs Finance.
I have here our business development manager Charlie which supports in business development and what we do at JPEG's finance is that we created a cross-chain protocol for NFT renting so through JPEG's you can come
and land and borrow actual NFTs and use them in other ecosystems. And you can do that without any collateral and in a cross-chain manner. It's the technology that we have is chain-agnostic. So you
Yeah, that's a brief introduction of of JPEGs maybe John Lee can introduce himself to. Yeah, cool. So my name is Charlie. I work BD for JPEGs Finance. Previously I worked in operations management. More recently I co-founded the little private investment group where we supported early stage
projects. I've been interested in crypto for many years as a minor liquidity provider, a community manager, and now with JPEGs, it's a business development officer. My focus now is building partnerships for JPEGs Finance with the goal of building out cross-chain NFT Reynolds infrastructure.
Alright, super cool. Thank you guys so much for those really in-depth answers man. I really like that. Now it sounds like you guys are really up to something really cool. So what kind of partnerships with different projects and platforms and protocols can we expect from JPigs in the future? Could you guys give us some examples of how other projects can leverage JPigs?
So we are open to the partnerships with actually any NFT based project. NFT renting can have a wide range of use cases from gaming, metaverses, real estate tokenized communities at the same time.
our main target now and the project that need NFT renting at this stage are games and maybe guilds to have their own NFT collection or want to onboard NFTs or new NFT collections from
the same or other blockchain basically. So let's I'm just giving you maybe a simple example if you have a game and you want the holders of board apes for example to be able to play your game you
can do it through the REN team provided by JPEGs. So by integrating JPEGs, our partners will have access to the NFT REN team in their ecosystems where their users will be able to land and borrow those NFTs to enhance their gaming experience.
Super cool. Absolutely. So it really really sounds like there's a lot of different uses you can use for borrowing and I'm sure the community is really excited about that. Now we have some questions here from the community so I'm going to be dropping some names for the people who have
been asking these questions. Now the first question comes from T3 Tramon. Now in the docs of JPEG Finance, there is one mention of NFT staking. So what is the reward for stakes and does it reward by JPEG
finance token or is it something else? Yes, so that's a good question. We have to understand what staking means in JPEG's finance first. So the way that Renting works is that if a user wants to lend his NFT
He will come to the JPEG's finance platform and stake his NFT. By staking his NFT, his NFT is available to rent. A borrower from the other side can come. By the way, the lender will specify the rent price, so basically
What is the rent per day? For example, if you rent it for a day, it's 1-3 if you rent it for 2 days, it's 2-3. Just as an example. And the borrower comes from the other side and chooses which NFT he wants to borrow and pays the rent. So, buys for the
The lender by staking his NFT, what he gains or what he obtains from this staking is the fees that the borrowers who borrowed his NFT have paid for their rent duration.
So there is no incentive in JPEG, Stoken for Staking your NFT, because by Staking your NFT you are just lending it. And what you get paid for that is the rent that the borrower pays.
All right, awesome. Now, we also have another question from Alexandra Winter. Now, Alexandra asks this question. Now, customer support is one of the most challenging parts to tackle for large crypto platforms.
I totally agree on that. Now how does JPigs handle its support and operations and what value goes into the team's thinking? >> Yeah, so this is an important question about customer support. We're just to explain a little bit and give
a bit of context, we will have partners that will want to integrate the renting through JPX. If you have a game, you will want to integrate renting but not necessarily develop smart contracts
for the rent thing and go through all the hassle. So you buy, we are providing an SDK that games can use to integrate these rent into their ecosystems. And where customer support is come is that
If there is a problem with an integration of a partner or of a game of NFT renting or if someone has a problem integrating through our SDK, then we will directly intervene
and help them solve whatever problem they have. So we value the customers, which are basically games that are willing to work with us and we will provide the best support that we can, both technical and non-technical.
level of the customer support. So I'm sure the community really appreciates that and we really appreciate hearing that you guys are willing to really put in the work to make your customers feel that they are supported and happy and ready to move forward. Yep, definitely. Now we have
Another question coming from Novak Dejakovic. Novak Dejakovic asks, "We believe JPEGs community will get bigger and what the media exposure, more people will join JPEGs and some players are curious as to what the future direction of
JPEGs might look like. Yeah, so we are now at an early stage of the project focusing mainly on product and partnerships with, as I said before, games.
But we simply, in the future, we simply aim to be the leading NFT renting platform in the space and doing it in a cross-chain manner. Our goal is to make NFT rentals widespread just like houses or cars in
in traditional finance, in the market that we are all familiar with. So we will work to spread awareness that holding an NFT is not the best way to create a sustainable financial ecosystem.
And it's not the best way to get value from the asset. As financial assets, NFT should be used to their full capacities and just then given the same example as a house, for example.
For ultimate goal, ideally, we want to make the standard that we use, which is called the ERC 4907, the foundation of uncollateralized lending become the new standard of NFTs
instead of the ERC 7201. So that will be our ultimate goal because in that sense any NFT that you can see in the market will become easily rentable by anyone. Man, I really love your aim to be the biggest NFT
T-Lender. That is awesome. It's a very bold statement and bold move. But I really believe that with your guys' team, it is sure to happen if it hasn't already. Now, we're going to jump right into the next question. Now, we have a question from Emma Mali. Now, Emma Mali wants to know, what are your marketing strategies?
And how do you plan on implementing global adoption? How do you intend on getting more users, community and investments from all parts of the world, including non-English speakers and communities? Do you have any, maybe like ambassadors or referral programs?
Yeah, so for ambassadors or refer programs at this stage, we don't but I'll come back to that later. Regarding our marketing strategy, it is fairly simple. We are looking for partners who already got a large user base and we also
them something that is valuable for their communities, which is their renting service. These are mainly ecosystem partners such as Aurora, who's got like a big and established community and their communities
hold NFTs and renting will become or is actually a need for those users. The more users, actually we believe that we are offering unique value to the Aurora
50 for example by enabling this rent and service for the users. The more we use users realize that this is something that they can benefit from, the more our community grows. And this is like very, actually very clear.
So this is as far as the marketing goes. As far as the investments, we are in discussion with many VCs nowadays, top tier VCs and working out our products strategy based on their feedback, adjusting this feedback.
and keeping the discussion open to first make it the best product that we can and also make it attractive to investors and VCs to come. And the thing that I skipped in the beginning regarding the
ambassador program. So our communication is now mainly in English, like since I guess most of the community is communicating in English nowadays and there is also because we are early and we are a small team so that this is like the best thing that we can
with our resources. However, if you remember, we are planning to be the leading rent platform in the space. So we have actually plans to onboard ambassadors from different regions that will help us access the non-community
community, not English communities, and we are actually offered to collaboration. So with anyone that could spread the JPEGs word and spread our services
can improve the NFT experience overall. So also that's a message to the listeners that we have right now. Feel free to reach out to us if you have access to those communities. I'm sure we can find a very good collaboration to do.
Absolutely, absolutely. I really love that you just reached out to the community for that. I hope that somebody maybe reaches out to you regarding that. Now, we have one more question from Nobit Taksuko. Nobit Taksuko. Now, Nobit Taksuko
As users often care less about the main technology, which is kind of true behind the token. They rather care, they rather care about the value of the token itself. So how does JPEGs strike a balance between developing
the technology and also improving the value of the token. Yeah, so I guess that the token question was inevitable. Well, actually we are quite early now, we should
not or we don't disclose about our token right now, but what we can say is that there is a synergy or this is what we aim to have. We aim to have a synergy between the product or the service value and revenue
and the token utility. So the token and the revenues of the protocol will be tied together. So we are nowadays drafting our token utility and tokenomics with experts in the field.
and we are following the best token standards in space and we are working carefully on a model that is fair and sustainable because those are the basis of a healthy token. So just to maybe
So as a little bit, in a more direct manner, the value of the token will be directly tied to the performance and volume in the JPEGs rental place. And JPEGs rental place is the marketplace where people can come and list their NFTs to rent.
Yeah, and just, just, nothing to add is that the token was also incentivized the members that contribute most of the protocol. And that is without actually diluting its value by giving, for example, a reasonable AP wise. So it's actually
a balance between trying to find the balance between emissions of the token and actual value of the revenues of the protocol. Alright, well the community loves to hear that you guys are trying to strike that balance if not already striking it. That is really great to hear.
But definitely, this is like very known in the space you see tokens go to zero because there's no balance between demand and supply and we are well aware of that. Absolutely, that's really true. Absolutely. What's good to know that you guys are not only aware but implementing everything you can to make it
as fair as possible. Now for our next question is from Deckard Shaw. Deckard Shaw, now I know that you guys have already touched on a little bit of this but his question is pretty good. It asks, "What is your global expansion plan at present, which market do you focus on most?"
or on building and developing to win customers, users and partners. Now, I know you guys already answered this, but maybe you guys can-- - Yeah, I can give-- - Yeah, sure. The answer to this is very straightforward. We want to reach out to as many
many debates projects as we can. The more customers that we have, the more adopted that this technology will become, aka the more renting will become widespread. Like everyone, for example, in the future, if this becomes adopted, it will become just like
Art, sorry, health, renting, which is something very historical. And the way we plan to build this community and acquire users and partners is to align incentives and make them clear for everyone.
By joining our community, this is what you get and this is what we will offer to you as a game or as a simple user. And for games that we work with and that are integrated
in our solution, we share part of the fees with them and it is actually a plus for their treasury to integrate the rent in that sense, in the logic, a project do not have actually
Like there's only upside to integrate and rent into your to your to your game and by If the more more and more people and more games understand that the more our community will will grow and like this is very
to a straight forward expansion plan for our project. All right, awesome answer, awesome answer. We really look forward to seeing how you guys develop in the future and how you guys expand in the future and bring on more partners. It's really cool to see how you guys are developing now and we really look forward to seeing how you develop in the future.
as well. Yeah, we'll have a lot of updates coming in the future. So we have to follow our project. We are posting updates, posting minimum articles about our updates, etc. So are you guys on Telegram?
Yes, we are on Telegram. We have a relatively small group. We just began our community activities. But, yeah, feel free to join there if you have any questions. Anyone who has got any questions will be quite responsive in the Telegram.
And we also value the first members or the early community that we have and that support us. And we know that they will have to join and maybe learn about the project.
and we are ready to support them in every way we can. Alright, you guys heard it here. Go ahead and join JPEGs on Telegram as soon as you can. Get in early. Yes, quite early. Quite early action. Now we have another question from Nancy Ape. Nancy Ape.
Now Nancy Ape asks, what networks support cross-chain and is the feed cheap and the transactions fast? Yeah, quite a good question about the cross-chain side of the product. So we are supporting
for now multiple EVM chains including Ethereum, Aurora, B&B Chain, Moonbeam and I think there's polygonson in Avalanche. So all the major EVM
will be supported by JPEGs. It is also a technical question about the fees and from a UX perspective we try to make it as seamless as possible for the users. So users will generally should not care a lot about the
fees as we handle all the complexity in the backend and all a user has to do is connect his Metamask in one chain, in Ethereum for example and everything just flows from there. He doesn't have to connect his wallet into other blockchains or do a bridging
of assets, this is like this is handled by our protocol. To explain a little bit, to make for cross-chain renting to happen, the borrowers chooses the NFT that he wants to borrow and chooses the chain in a way
which he wants to use. So basically you choose a board ape and you say that you want to use this board ape which is Ethereum and you but use it in Aurora. I'm just going to give another example. Let's say you want more relevant for Aurora. Let's see you want to borrow an Aurora boat in East.
and use it in Aurora. The gas that you will have to pay will be the gas in Ethereum to validate the rent in operation plus the gas that it will be used to mint the new equivalent in Aurora plus the axle on network fees. Axelon networks is
The network is the infrastructure provider that we build on to provide this cross-chain communication or cross-chain feature for the rendering. The fees for Aurora and Axelor are quite minimal. Like the cross-chain fees
crushing transfer fees are quite minimal, but what is substantial or could could could eat up a lot of a lot of gas is the gas fee in a Syrian and the gas fees in Syrians we as we all know will depend on network congestion at the moment of the trend.
The idea is that the crossing transactions do not eat up a lot of gas, but it's more of a transaction in Ethereum than that do. So if you do, I don't know, a transaction maybe rent an oral boat from Aurora and
use it in polygon those are like cheap blockchains to make transactions and then the gas will be quite, quite minimal. This is like will be in mainly in cents. All right we'll keep the links to a minimum when it comes
the gas fees is crucial so I'm sure everyone is super happy to hear about that. Yeah it is like just to add about that is it's that if you make a transaction in Ethereum or if Ethereum is
included into a transaction, then you might have to pay a little bit because Ethereum is not as cheap as the other block. Otherwise, it's all good. Now we're going to drop down to Elly Bergen. Elly Bergen has a question for you. Elly Bergen
questions is one of the problems in NFT gaming is balancing between engaging gameplay and money making for users. Which can be abused by users. So how will JPEGs balance the two together so that JPEGs will not be seen only
has a money making platform for users. Yeah, go ahead, go ahead, interesting question. We saw this, like, we have this problem in a lot of platforms or protocol where, like, you have a
game but people come into that game for a certain period of time to just benefit from the misalignments of incentives or the big amounts of rewards given by the token it
etc. For JPIX, we make sure that there is nothing to be abused here. After all, it's an erratic platform that links lenders who got assets and wants to put them in rent in order to generate yield. And from the other side, the borrowers who
only wants to make use of the utility for certain period of time and don't necessarily have the possibility of purchasing the NFT. So overall it's the borrower that pays the lender for the Red Team service and we do not provide
any rewards for the renting with the JPEG token. And also, just to add to that, there is a platform feed just like any other marketplace and this is our main business model. The money operator
opportunity or the money making opportunity for JPEGs comes from the renting itself. The lender gets paid if his assets is rented and the borrower can use the rented assets to make money elsewhere in a game for example.
But we as a platform we try to keep it as seamless as possible between the lender and the power and we do not provide anything to be you know, we do not provide any any way for our platform
platform to be abused by someone who do not have our best interest in hard. Thank you so much for that excellent answer. Thank you. Now, one of our last questions before we open up the room
to the audience to ask as many questions as they would like is from Al-Yona Pastukovah. Now we are going to go ahead and ask her question right now. Now can you please tell us a bit more about J-Pigs and its features
it's stand out points and everything about it that you know excites you. Yeah I think I think these questions is you know it's more general about about JPG's all tried to make it as broad as possible so people can understand more what JPG's is.
we are a cross-chain NFT renting protocol that allows users to land and borrow NFTs from and to any chain and without any collateral. So you can rent NFTs, don't need, uh, any, um, no need to put any collateral which makes it very accessible for users who not have a lot of
money to purchase expensive NFTs, they could just come and borrow those NFTs that will be listed into our marketplace, our rental place as we say. So we also, on top of that, we provide rent in infrastructure to games and
that we should introduce cross-chain, uncollolytralized landing into their ecosystem. So if a game wants to have a rent for their assets, for the in-game assets, for the swords, for their land, for their items, weapons, etc. we could offer
We offer actually this infrastructure and the integration should take very minimal effort to do. I'm going to give an example of how it goes from user
users perspective that comes into our rental place and wants to borrow an NFT. So let's assume you have a user, let's call it, user B who wants to borrow an NFT from Ethereum and use it in, let's say, let's say,
or Aurora. The user A is the owner of the NFT, so you have the user being wantsuboro, but you have another user, user A, who is the owner of the NFT and decides to lend it. For multiple reasons, you have a very expensive NFT and wants to lend it because he does not use it or he just
sitting in his wallets, it does not make any revenue from it, although he bought it for 300k, 400k, whatever. So on the internet network, the user A, the owner of the NFT, stakes his NFT
in JPx mod contract and he selects min and max desirable rent duration plus the price per day meaning that he selects that his NFT can be borrowed for a minimum duration of one day and the maximum duration of seven days. I mean that the borrower who comes
cannot borrow the NFT more than 7 days. The user B who wants to rent the NFT to use it in his favorite game on the other chain, he does not actually or does not necessarily
he wants to interact with this destination chain. He comes into J. Bix, the rental place, connects his wallet in Ethereum, he selects the NFT that he wants to borrow, he specifies the duration of the rent and the chain on which he desires
to use the NFT. In our case, we said it's going to be a horror, for example, or it could be any chain. Then he validates the transaction and all this operation is done in Ethereum because the NFT, the original NFT is in Ethereum. What happens
is that for the same address, if the transaction is successful or if the borrow operation is validated, like it's validated after the user's paste, the guess, this user will have the user's rights of the
NFT for the specific renderation on Aurora. And what happens, too, is that the rent that is paid by this user is now transferred to user A, which is the own, like the user A, instantaneously gets the rent that the borrower
have paid to use this NFT. And the borrower now can use this NFT for specific duration of time or for the specific duration of time that he chose when validating the transaction. I can go into the details of how it works, which standard we use if
if someone is interested to know those details. But in general, these are the features of the product. And what makes it exciting is that it opens a new way of using NFTs, which was not available to the community before
And with that, it offers not only utility, but also answers a big problem in the NFC space, which is yield. And yield, as we know in DFI, it is done with landing orbit. And if we apply that to NFTs,
We find that one of the best ways to earn yields for NFTs is renting. All right, so this community is a big fan of opening up different possibilities for NFTs.
And we are really happy to hear that Jay Pakes is out there getting it done. Very cool, very cool, very cool answer by the way. Yeah, thanks. Thanks. We know that Aurora is has a growing energy community. And that's why we decided, oh wait, by the way, we got, we got a
grant from the Aurora Foundation and we are going to deploy Aurora as one of the first EVM chains in our cross chain narrative. Once we go live, Aurora will be support. Because we know this is something
that is valuable for the ecosystem. We know that users are interested in using that in Aurora and we decided to make it our priority choice to go. All right. Now we're going to turn to the community
Now if that's okay, so and turn to Mario now Mario are you here with us? Mario are you there? Hello, can I proceed?
Yes, you can sir. Yeah, thank you very much. Thank you for inviting me up to speak. Yeah, my question is as an investor or a user, what requirements or what requirements most qualify in order to borrow to borrow JPEGs NFTs?
Okay, that's a good question. We just maybe to clarify a little bit, JPEGs do not have NFTs, but have NFTs staked in their platform, in our platform basically.
If you come and there's no requirement, just like a marketplace, anyone can come and buy from a marketplace. In the rental place, anyone can come and rent from the rental place.
that is listed on the rental place. It's just a two-sided equation. You have the landers who come and list their NFTs in the rental place, and if someone lists his NFT, it will be available to rent.
Lenders borrowers can come from the other side and check explore what is listed in the rental place which are what are the NFTs that I can borrow from this marketplace and there is no it's an open platform for everyone
everyone to use. If you come and you have the necessary funds to borrow the NFT for the desirable amount of time that you want, then you can do it in a permissionless manner. There is no approval needed. Anyone, it's like it's a platform
that is open to anyone. Thank you very much. Thank you very much. I have second question that I want to ask. Can I proceed? Yes, go for it. Yeah, okay.
What are the attractive features in JPEGs platform? Well, the attractive features, well, there are many, but the main thing is it's renting itself. Renting itself is not widespread. We are one of the first platforms
that are doing NFT-rending. The feature that is very attractive to games, for example, is the crushing side of JPEGs. We allow those NFTs to be rented
from any chain and be used in any other chain. There is a lot of demand for this cross-chain NFT or at least the cross-chain site from games. For example, who got their
NFTs in Ethereum and as you all know when someone would say 12 months for example last 24 months projects launched their NFTs in Ethereum but then when they want to launch the game based on those NFTs
they do not launch it on Ethereum because it is just not scalable enough. It is not fast enough. They launch their game in let's say Aurora because Aurora is fast, it is suitable for
for the gaming. And they have this problem. Their NFTs are in Ethereum, but their game is in a... How do you want to solve this problem? There are many ways you can do that, but they're not that secure, especially if you want to bridge assets.
What we do is that we allow those assets in Ethereum to be rented and used in Aurora without the need of bridging those NFTs. And I think this is like the most attractive feature that we have up to date.
and we are the first ones that are working on this blockchain feature for NFT rent. - Well, that's awesome, that's really awesome. Thank you very much. Looking forward to JPX and RRP, thank you very much. - No worries, thank you. - Mario.
Thank you so much Mario for being a part of the community and being here to ask these questions. We really appreciate it. Now we're going to have Robert. Robert, are you with us? Yeah. Can you hear me? Yes, Robert. Do you have your question ready? Okay. Thanks for this opportunity.
So my question is what are the challenges you are trying to solve in the next 6 to 12 months? What role do you see the JPX is playing with the Web2 and Web3 world? That's my question. Yes.
So the main challenges that we face right now is that we want to, how do I say, make the renting something widespread. We want to, as we said, our
objective and it is our challenge in a way. We want for NFT holders, we want for games to see the value in NFT renting. We want this to become a
standard in the space. And this is a very challenging thing to do. And we are working day and night to make this become adopted, make, or say,
spread the word about the renting, make people understand that by renting their assets they can get more of them, how also speaking to games to make them understand that with the renting they can
enhance the utility of their NFTs and same thing for NFT collections themselves. So this is like just to sum up the big challenge is for us to make granting become big enough where we will be
like the leading platform for like for crossing renting. The for the second part, what was the second part of your question again? Sorry, I just miss that. What for the Cedar?
- And GFX is playing within the Webtoon Webtoon world. - Yeah, so for the role, I think you're asking about the role that we are playing in Webtoon and Webtoon. I think we play a role more mainly in
in the Web 3 and especially more specifically in the NFT ecosystem. The role that we play is that we want to solve two main problems that are now facing NFTs.
The first one is the problem of the yield. There is no yield on NFT or no sustainable way to make yield on NFTs. And second is you have a lot of NFTs, you have thousands or thousands of NFT collections out there that do
not have enough utility to be considered as valuable or as something that makes sense. So our mission is like to solve this to kind of big problems in the
in the space by offering one solution that answers both of them, which is like the rent and how it solves both of them is for the yield if you have someone who pays the rents, there you got your rent.
your yield. And it's not like a yield that comes from nothing, it's yield that comes from actual demand. And for the utility, like what we, or our objective for the utility is that we want to make the
if T is as interoperable as possible. Meaning that ideally you would be able to use any NFT collection in any game or just use an NFT in different metaverses.
different games or a game can actually host or open the doors for many NFT collections to be integrated with its ecosystem. And this is also something that could be enabled by renting because simply renting offers a
low barrier of entry or offers low barrier to users who want to simply play the game for example. They do not want to purchase the NFT, they do not have the funds to purchase the
NFT they could just rent that NFT, use it in multiple games, rent the other NFT and use it in other games. So this will open like new possibilities for the utility of all the NFTs. Thank you, sir.
All right, thank you so much to Robert for your question. We really appreciate you being here. Now we have a question from Fat Kyle. Now Fat Kyle, what is your question today? Am I on the well? Yes you are. Okay. Can you tell us about
your team members are they qualified and professional in their fields? What are the required requirements for team members for your projects? Yeah, sure. So we got about our team, we have like your now
six members including three full-time developers about our like the co-founder which is like Yusuf and myself we we have software engineering background so we both know how to to
code, how, like, solid development, we know how to take a product from the initial phases to something that is implemented in the real world. And we about our team, our team is quite
like it's quite complete as a small team that is required to build this kind of product. So we have a back-and-developer, we have a front-end developer, we also have a solidity
the developer who works on smart contracts and there is Charlie who works on all sorts of partnerships and handles the BD from A to Z and we both co-founder, you know, we do all kind of stuff.
that is needed for the projects to be successful and to we also work or define the vision of JPEGs and make sure that our roadmap is where respected, etc. So for the team we
we are pretty sure that we got the necessary skill set to take this from from an idea to to something that is used by end users and games too. And if I can add we are
We also have some excellent partners and backers already just from where we've received grants. We've received grants from Axelore Network. We've received grants from Aurora. We've received grants from Moonbeam as well. So if there's something that we don't know and we are most of us are crypto
native in this team as well. So we understand the needs of the market. I've been around and been interested in toying around with Bitcoin and other cryptos and networks for a long time. So if there's something that we don't know or a skill set that we need to leverage, we can do so from our partners.
Wonderful, sir, wonderful. Really appreciate it. Keep brain cells. Thank you, sir.
Alright, thank you so much, Fat Kyle. We really appreciate your presence here. Now we're going to move on to Mr. Investor. Now Mr. Investor, what is your question today?
Can you help me? Yes, yes I can. My question is where can I buy your NFK and token? Can I take the token and what is NFK price?
Yeah, so this, well regarding this question, we are quite early right now for the token or the NST. We don't have the JPEG tokens out yet.
Like we probably not plan into to launch an NFT but this could change But maybe a word about the the token launch so in our roadmap to since you you asked about the token the we plan to
We plan to launch the token after we go on mainnet and after like we have a good user base and a decent volume on the platform. And this is something that is expected to happen on QB.
something around Q1, Q2, 2023 maybe around March, April, or around that and also it will depend on market conditions and probably where do you will you be able to buy the tokens? Well,
on Dexas and on Dexas on the chains we are supporting and we are also planning to have multiple centralized, like good quality centralized exchanges to boost the liquidity, the trade involved
volume for the token. But this, like you just stay tuned for the token announcements, this will be something that will be done very in the very near future. But what's more important that the token itself is the product, is the platform that we
launch and this is like something that will come very very soon by late December we will have the platform ready where you can use it and we will make sure that our our early community
get something from it. We really appreciate the guys, girls too, that supports our project in these early stages. And like for the token announcements, this is something that will maybe come early next year.
Okay, sir. Got it. Thank you. No worries. All right. Thank you so much for your question, Mr. Investor. It's really cool having you here and thanks again for that cool question. Now I wanted to go ahead and kind of wrap this up, but before we leave, I wanted to also give Jay pigs and also be
a chance to really maybe like a minute or two because I know we're coming to an end right now but a minute or two to kind of tell me what was your inspiration to create JPEGs? What was really like the thing that inspired you to get started on this? Yes. We it was
I think the most powerful ideas come from a personal problem. So something that we personally encounter. In our case, we were NFT collectors for many years.
We joined the Kutterspace quite early for the NFT hype. We were collecting NFTs, we had some valuable NFTs that we were collecting and back then there were no way for us to earn from those NFTs.
And a lot of the NFTs that we held to zero, basically, we held those NFTs and they depreciated their value, depreciated over time. And there were back then, no way for us to earn something from those NFTs. Aside from trying to
you know, you trade you by low you feel high but like this is a model that is financially unstable for NFTs. So the idea that we had back like your back was that DeFi is a more established field but high
Now, what are the reasons for that? One of the reasons is the incentive that you get from holding assets or for staking assets. You get these incentives via yield. So the yield is something that is really important in any financial system.
Then we got the idea how we can create this yielding NFTs. There are a lot of answers to that. There is, for example, borrowening against NFTs. But this was something that is done already by other platforms. The natural
that we had is to think about NFT renting and how we can implement it. And just by thinking about NFT renting, we decided that this is something that we saw a lot of things in the space. And then we improved the idea we made it uncollateralized.
we also made it prosch chain bans based on the feedback that we had and the continuous improvements that we make to the project. So it is something that came from problems that we personally faced as NFT holders.
Alright, thank you so much for that answer. That was awesome. It really sounds like you guys have a lot of passion behind you. Now we're gonna go ahead and wrap this up. I want to thank you and thank the community for being here today and don't forget to join and follow JPEG's telegram. And I am sure that the community will be looking forward to JPEG's events in the near future.
future. And we have another event for the community. So be sure to follow me to get a chance to receive the reward and explore the ecosystem. And thank you for your support. Yes. Sorry, mate. I just wanted to say we got a little bit of alpha for your community if you want to hear it. Absolutely, but unfortunately my time
here is kind of coming to an end my apologies. Okay well look everybody go to Jpix Finance Twitter and you'll see the alpha that we've dropped for a word to you. Perfect perfect thank you so much. Okay now remember to follow me and get a chance to receive the reward and explore the ecosystem and thank you so much to Aurora DAO for
having and helping Aurora to support projects. Now best regards to you all. I hope you guys have a great day or night wherever you are and thank you so much for your presence here and being part of this big community. We really appreciate it. Now see you guys later. Thank you Jay pigs. Thank you. - Thanks guys. - Cheers, bye. - All right, take care guys. Bye bye.