AMA Recap: Kephi Gallery & MyDeFiPet
On July 9th, an AMA (Ask Me Anything) session was conducted with Kephi Gallery & My DeFi Pet. The AMA was hosted by Vinh Duong in the Official MyDeFiPet Telegram group, with Nico Verderosa — CEO/Co-Founder of Kephi Gallery and Vinh Nguyen — Business Development Manager of My DeFi Pet.
Missed the AMA (Ask Me Anything) session with Kephi and MyDeFiPet?
No worries! You can read the transcript here:
KEPHI GALLERY SESSION
(Vinh Duong asking, Nico Verderosa answering)
Q1: Could you introduce a little bit about Kephi Gallery and how the project started? What are the major milestones that you have achieved so far?
Kephi Gallery is going to be cross-chain NFT marketplace built on KardiaChain, where artists from different disciplines can get together and share (and monetize!) their work. From visual arts, to music, from movie clips to even theatre, every artist is welcome to mint their NFT and start trading their pieces of art. Mind you, we will not have any sort of entering restriction, everyone will be welcome. Although we will have special featured collections from ourselves and our partners.
As for the second part of the question…
We have completed our private round successfully, which allowed us to speed up the development of the platform considerably. We also have formed many great partnerships, including this one with MyDefiPet. On the PR area, we’ve been noticed by national local media, with appearances on major newspapers and radio stations. Also, BeInCrypto Spanish approached us to form a media partnership with them. We are currently setting the date for the simultaneous IDO/IFO on BSC and KAI.
Q2: What are your thoughts regarding the surge in popularity of NFTs and what this means for the growth and development of NFTs?
NFTs are a type of asset that came to revolutionize the crypto ecosystem. They are not only useful for art, games are using the protocol too, and even real estate. NFTs allow for individualization of assets and that has many use cases, even many more than we can actually imagine right now. NTFs also provide a unique opportunity for crypto investors. Current research shows that NFT pricing is not strongly correlated with cryptocurrency pricing in terms of volatility transmission. This has interesting implications for investment portfolios, as low-correlation assets are highly desirable for their diversifying characteristics.
I could say many more things about NFTs, since I consider myself a huge fan of the protocol, but that sums it up, pretty well.
Q3: Thank you for the answers, Nico. NFT is definitely not a fresh corner within the cryptospace anymore, which means there have been a lot of NFT projects out there. So what is the strongest advantage that Kephi Gallery has over its large competitors?
The main problem with current NFT platforms are related to their development in the Ethereum blockchain, which translates to very high gas fees for artists and customers. This makes the NFT market in developing economies to be quite limited.
We are using KardiaChain technology, and we all know what that means. SUPER LOW FEES!
Also, KardiaChain brings another advantage, interoperability. There aren’t many (not to my knowledge) cross-chain NFTs marketplaces. What we are building is a KAIDEX of NFTs.
Q4: What about the weaknesses that Kephi Gallery has, and what are your plans to overcome those?
Well, we have to fight against the big guys, sort of speak. There is a lot of competition in the field. And some very well established names, too. But with our two advantages, which I mentioned above, we will thrive in the NFT marketplacaes field.
Also, we are starting our main focus on LATAM region, which is quite virgin at the moment. And we will do some strong marketing campaigns (Youtube, PR, Twitter, Instagram, etc.).
This, will not only bring attention and users to our platform, but also it will provide the same to our partners, like MyDefiPet (people in LATAM are starting to talk about it) and the whole KAI ecosystem.
Q5: So in terms of vision, what is your long-term vision about the industry you are working on. Technology is advancing at a rapid rate and are you afraid a better technology will arise that will topple KPHI (Kephi Gallery)?
Our vision on Kephi Gallery starts with three main points, simplicity, security and lower fees.
Simplicity meaning users will not have the need to know a lot of tech, we want to make the process as easy as possible.
Security, we will be strong in that area. We already audited our token contract and we will audit the whole platform once it´s ready.
and lower fees…well..I mentioned this earlier. Gotta love KardiaChain!
As for our future…
This original vision we had, of building a cross-chain NFT Marketplace is only the beginning. Our pipeline has already many more products and side projects that we will be developing as time allows. Right now the main focus is to bring a great NFT Gallery and Marketplace as we have been promising our potential users and investors. Tech grows rapidly, and so will we. Going hand in hand with KardiaChain team, and the rest of our partners, I´m sure we will deliver great things in the future.
Thank you Nicolas, I believe that your answers helped some of us here know more about Kephi already.
MY DEFI PET SESSION
(Vinh Duong asking, Vinh Nguyen answering)
Now we are going to have a small part with Vinh from DPET. Most of you guys must be already familiar with My DeFi Pet but as today we also have some audience members from Kephi Gallery, so Vinh Nguyen, would you be willing to say some about DPET?
Q6: could you please introduce My DeFi Pet to the community in a jargon-free way and what sets My DeFi Pet apart from other NFT Game competitors?
My DeFi Pet is an NFT, DeFi pet raising game on both KardiaChain and Binance Smart Chain! The project is called My DeFi Pet because the three main details of the game are a “Pet” raising game with “DeFi” features and “My” personalisation for your pets! Users can tribute DPET tokens to collect, evolve, and breed pets to battle them and receive lucrative rewards of up to $100,000!
Q7: So can you tell us what kind of in-game utilities can we expect from NFT implementation in the game?
In My DeFi Pet, the pets that users are raising are NFT themselves! When users buy an egg and hatch their pet, the game has minted that unique NFT. This means that each and every pet is unique! With the staking function to be released in the future, users will be able to stake their NFT pets to receive more tokens!
With the pets being NFTs, users will also be able to trade, lend and borrow their NFT pets with other players!
Q8: The game was a bomb when it first came out officially. It’s been more than 2 months since the game launched, do you have any updates about the major milestones that My DeFi Pet has achieved so far?
There are multiple incredible milestones that My DeFi Pet and our beloved community have reached together! Within less than 2 months of our official launch, we have achieved over 55,000 holders on both KardiaChain and Binance Smart Chain, alongside over 1,300,000 transactions and over 830,000 NFT pets have been minted in the game!
Most recently My DeFi Pet has been announced as one of the top 20 projects for Binance’s Most Valuable Builder (MVBII) program! Top 10 projects have the potential of direct investment from Binance as well as listing on Binance!
Thanks Vinh for your updates. Now let’s move you guys to the part where we discuss more about the partnership between My DeFi Pet and Kephi Gallery.
Q9: How will the collaboration between Kephi Gallery and My DeFi Pet impact each respective project and how will this bring “NFT mass adoption?” Does this partnership mean that Kephi Gallery NFTs will be a reward in quest on My DeFi Pet?
Kephi Gallery and MyDefiPet integration brings many advantages. The obvious one, bring our communities together. But of course this goes way beyond that. We can have a broad variety of benefits for both our users. For example, yes we could have NFTs from our Gallery being given as a reward in a quest on MyDefiPet. Or we could let MyDefiPet users stake their NFTs in our platform for rewards. Or we could even have a MyDefiPet featured collection where pets could be promoted and traded. There are many things that can come out of this partnership.
With Kephi Gallery also being on KardiaChain, this is one of the first steps to expand on the KardiaChain ecosystem as well as both project’s respective ecosystem.
Like Nico said, one of the clear benefits is the growth in community for both projects, creating a larger community for NFTs as a whole, being a step towards the mass adoption of NFTs
With NFTs being more and more available, there are multiple unexplored uses cases that are left for us to discover!
Q10: So how will the value of NFTs be determined, both My DeFi Pet NFTs and other NFTs to be listed on Kephi Gallery?
The value of NFTs in My DeFi Pet is determined by the genetics of the pet. Each unique NFT pet will have its genes saved on blockchain that will determine what its traits, qualities and stats are! The NFT pets can have their value determined in multiple ways! Pets with the highest battle stats can be of high value to users who prefer PVE and PVP content, whereas pets with higher silver output or staking APR would be of higher value to users who are interested in the DeFi functions!
The process that we have envisioned is that the creator of the NFT will set the price. Only the owner of a piece of art can put a numeric value to it. When it comes to MyDefiPet NFTs, the value could be intrinsic to the NFT itself and come already set from MyDefiPet, Also I want to add that in the case of Kephi Gallery NFTs, the creator will always have rights to receive royalties for each secondary sale.
Q11: Could you briefly explain how each NFT will be transferred from one user to another through Kephi Gallery, and methods used to ensure the protection of user’s NFTs from being lost?
So, identity and ownership are verified by a blockchain and are not mutually interchangeable. So no one can take advantage of the hard work without recognizing the users authorship. When the NFT is minted it’s a token that is created on KardiaChain blockchain. When it’s sold, it’s assigned to a new address. Much like any other token, blockchain tech will ensure the protection of them. They cannot get lost, they will always be assigned to an address within the chain.
By having the transaction of NFTs through a marketplace such as Kephi Gallery, users are able to trade their NFTs without the risk of malicious intent from other users!
MyDeFiPet is a a blockchain pet game that allows users to collect, breed and battle pets to earn rewards on both KardiaChain and Binance Smart Chain. Being a project incubated by KardiaChain and developed by TopeBox, one of the top game development companies in Vietnam with over 100 Million downloads, MyDeFiPet’s growth is predicted to be incredible. This is clearly reflected in the astonishing statistics in one month after launch, with over 700,000 transactions, 22,000 active accounts and over 460,000 pets in MyDeFiPet!
Through the DPET token, players can collect, breed, evolve, battle and trade their virtual pets, all while gaining rewards.
Check out their whitepaper, or contact them directly:
Media Partner: BeInCrypto en español