AMA Recap @ Crypto Legacy
On July 21, 2021, an AMA (Ask Me Anything) session with Kephi Gallery was held on Crypto Legacy LATAM’s Telegram channel.
Did you miss the AMA (Ask Me Anything) session?
Don’t worry, you can read the transcript here:
Rosemary [21.07.21 11:05]
Hi @RosemaryBianco nice to be here!
We welcome everyone to join us in this prestigious AMA event with Kephi Gallery. How are you doing?
Thank you very much!
Well, what do you say we start with the AMA?
Ready for your questions
Q1. Can you provide a brief introduction about the Kephi Gallery team?
Yes of course…
Kephi Gallery is a multi-chain NFT marketplace where artists from different disciplines can come together to share (and monetize!) their work. From visual arts to music to film clips and even theater, all artists are welcome to coin their NFT and start trading their artwork.
Our development is being done on the KardiaChain and Binance Smart Chain networks.
Thank you, the idea of ours is to provide artists with a window for their work, and we will focus mainly on the Latin American market.
And also to art collectors an ideal market with very low fees.
well, next question
Q2. Where does the name Kephi Gallery come from and what services does this platform offer?
We had a hard time choosing the name of the platform to tell you the truth. With KardiaChain being one of the fundamental pillars of our marketplace, we focused on finding words with Greek roots (Kardi comes from heart).
Kephi is a word of Greek origin that has no literal translation in another language but symbolizes the spirit of joy, passion, enthusiasm. It is a concept that is associated with the expression of positive emotion or fun.
And as I said in the previous question it will be a gallery where digital artists of all branches can publish their works and monetize them.
The main problem with current NFT platforms is related to their development on the Ethereum blockchain, which results in very high gas fees for artists and customers. This makes the NFT market in developing economies quite limited.
Associated with this problem, NFT platforms are built around the idea of the “marketplace,” rather than providing artists with a simple but powerful gallery to properly showcase their work. They require prior knowledge of how blockchain technology works and its advantages, how NFTs are bought and sold, and what they represent. This can alienate not-so-tech-savvy artists to enter the NFT community.
At Kephi Gallery, we aim to address both of these issues, so that everyone can mint their digital collectibles regardless of their budget or technological knowledge.
the basis of the name of the project is something very original.
Thanks, it’s also short and catchy :)
thanks for that info!
here’s another question
Q3. What is one milestone at Kephi Gallery that you are most proud of achieving?
Well, the truth is that the whole team is very proud and excited about Kephi’s progress despite being in its infancy, because even so, we have passed several important milestones. We have won the KardiaChain Pioneer Program (ranked 1 of 20 projects), we have made our community grow exponentially, we have closed several partnerships with many important partners (including MyDefiPet and Faraland, two NFTs games), we have successfully completed the private round of investors and we have already announced the public sale on the BecoSwap platform (KardiaChain network) for July 30. And many more to come.
Just to tell you about IFO https://link.medium.com/Gec1CmcVZhb
wonderful. let’s go with the last question of this segment!!!
Q4. What are Kephi Gallery’s plans for 2021?
According to our roadmap, after the IFO on BecoSwap will come the IDO on Binance Smart Chain, and then be listed on at least one CEX. The platform will be ready by early Q4 2021. In the meantime, more partnerships and more branding of Kephi will come in Latin America and also globally.
In addition to that, we will be launching our white paper (today we have a light version) and roadmap 2.0 for 2022.
Thank you for your responses, we have just finished the segment of:
We move on to the segment of:
how will the value of NFTs be determined, both My DeFi Pet NFTs and other NFTs to be included in Kephi Gallery?
The value of the NFTs will be determined by the creator of the NFTs. They will be able to set the number of NFTs they sell of the same artwork, the fixed price or the starting auction price. After purchased, the price for a secondary sale is set by the new owner and the creator will always be entitled to receive royalties (10% of the sale value).
In other words, in addition to the value of the first sale, the creator will always monetize his work from the secondary market.
I like that! next question
According to your tokenomics, 15% of the funds went to the loyalty program. Can you explain this? How can we join the loyalty program? How do you distribute the rewards?
Yes, of course!
The Kephi token (KPHI) is the Kephi Gallery utility token. KPHI will be available to be mined by those who use the platform to buy and sell NFT. In addition, we will have an extensive Loyalty Program where KPHI will be used for benefits such as:
Special profile frames (to make your artwork stand out!)
Appearance in KEPHI’s own collection
…and many more!
The whitepaper will include the detail of how the token may be mined by buyers and sellers of NFTs, and the detail to be distributed (amounts, period, etc.)
What prompted Kephi Gallery to focus on artists and all their fields and not other areas? What is the link between the option to create and at the same time generate profits using a technology that has no competition in gas costs?
It’s a good question, and I like to emphasize the last part of it. The use of KardiaChain will bring a great benefit, the issue of the very low fees it handles. It will allow users to create an NFT for as little as 1 USD (or even less). In turn, buyers will not have to pay high fees for making trades.
As for our approach. We believe there is a big gap in the digital art collectibles market in Latin America.
Obviously we know there is great competition, but most platforms are run on the Ethereum network and those that are not, are not multi-chain like us. Another benefit of KardiaChain.
good point. they have that advantage in their favor
Exactly, and a great support from the KardiaChain team as well, since their Chief Engineer is our Technology Advisor.
Nfts and digital art in general, has given rise to many Fraudulent artists who monetize Nfts of art that is not theirs, How does Kephi Gallery plan to create a market with quality Nfts and above all of verifiable origin? With completely original and unique works?
It should be noted that the NFT protocol and all that it entails is still very new and perhaps in the future there will be some better technology to avoid fraud. The only efficient way to do this is through manual and constant monitoring of the accounts, and this is how it will be in Kephi Gallery.
Each user will have to accept the terms and conditions that the work he/she is going to mint is his/her own, and if not, he/she will be subject to sanctions.
Of course, it will not be possible to delete an NFT by us because it would lose the characteristic of decentralization that characterizes us, but we can limit access to the account of the offending user, and, in the case of knowing his personal information (because the artist decided to publish it) even liable to criminal prosecution.
That’s why the legal team and the artistic team will be in constant monitoring.
It strikes me that you use the KardiaChain network for the development of your NFT tokens, but really why choose this network over the more known ones? Will it bring any particular benefit to the collectibles or just minimize the cost of the fees?
Well something advanced regarding this question, anyway I clarify that the platform will be available for use in the BSC chain also through Metamask.
The Kardiachain network has two benefits: 1) extremely low fees (10,000 times less than Ethereum) and it is also a non-invasive interoperable chain. This means that it connects multiple chains together, without them having to make any modifications to their protocol.
This is going to allow an artist to mint an NFT on Kephi Gallery paying the fees with KAI and sell it for USDT, BNB, DAI, ETH, BUSD, etc., etc., etc.
We just finished the segment on:
Now we move on to the segment of:
take as long as you want to answer, but answer a minimum of 5 questions.
There are CEX and DEX listings scheduled for this quarter. Did you complete at least one of them? Where is your token available for trading? Are you going to be listed on popular exchanges like BINANCE and BITTREX GLOBAL in the near future?
Immediately after the IFO on BecoSwap, KPHI will be listed on Kaidex.io (KardiaChain’s DEX), after the IDO on BSC (date to be defined), we will be listed on PancakeSwap.
And as for CEX, we are in talks with several but due to NDA issues I am not yet at liberty to mention them. But you will also be able to buy and sell KPHI on centralized exchanges.
I could notice that one of your partners is Faraland gaming platform, will this partnership allow to trade the NFTs of this game, directly on Marketplace?
Exactly. Both MyDefiPet and Faraland will have featured collections within Kephi Gallery where their NFTs (pets, equipment, weapons, etc.) will be traded.
What momentum, reach, countries has kephi achieved through its marketing campaigns (Youtube, PR, Twitter, Instagram? Exceeded your expectations?
We will primarily focus on the LATAM market, but without neglecting the English-speaking market. We currently have BeInCrypto as our Media Partner in Spanish and the support of many influencers. In fact some of them will have their own featured collection as well (we will soon be announcing a partnership in this regard).
My personal experience as former Head of Partnerships for PrimeXBT broker in LATAM has left me with many contacts and friends who support this project in the region.
Making it easy to get the product of an artist we follow is necessary, we live in an almost completely digitalized world, what is Kepy Gallery’s plan to get the attention of artist to sell their content with you and make it feasible for them in the short, medium and long term?
We are also in talks with artist collectives, art galleries and art-related institutions to add them to Kephi Gallery and launch the platform with a large volume of created works.
In fact, artists from several countries have already approached us to express their interest in creating their NFTs in Kephi.
And I emphasize that anyone will be able to create their tokens without any kind of restriction.
Have you been audited, haven’t you heard that security of funds is what every investor craves and plans to escape in case of insecurity if funds, scams and carpet pulling? How strong is your security put in place?
We have been audited by RD Auditors and by KardiaChain’s own team. We consider security a key factor for any project and more linked to the crypto world.
Thank you all for your excellent questions! I’m sure there are many unanswered but I invite you to join our Telegram and follow us on our networks to learn more about Kephi Gallery.
thank you very much for sharing your successful project with our community, we will be waiting for the news and milestones of your project!
Links to Crypto Legacy
Media Partner: BeInCrypto en español