On 17th of June 2020 apM Coin conducted an AMA in Crypto Revolution Group. Interest was pretty awesome. Over 100 Questions posted on Twitter and over 300 Questions during the Live Telegram AMA. Let’s take a look at the most interesting parts from the AMA
Danny | Crypto Revolution: Ok guys let’s welcome Richard Seok, CEO of apM Coin. With the questions answers will help Binacho and Minseon Hwang from apM Team. Welcome to Crypto Revolution Community.
Richard Seok | apM Coin: Hello all. Nice to meet you guys here!
Danny | Crypto Revolution: Nice to have you with us today. Could you please introduce yourself? And how did you get in Crypto and apM Coin?
Richard Seok | apM Coin: Hello I am Richard Seok and am in charge of apM project. I got into cypto 3 years ago participating in an ICO.
Danny | Crypto Revolution: It was successful one? 😀
Richard Seok | apM Coin: Yes it was. The only one that was successful.
Danny | Crypto Revolution: How did you come up with the idea for apM Coin?
Richard Seok | apM Coin: apM is a family business and I have been adopted very closely with the wholesale business. I simply came up with the idea thinking I might suggest a better and new payment options and reward for our customers.
Q1 from @Rosanela08
What is the difference between apM Group and apM Coin project and why do they exist separately?
Richard Seok | apM Coin: apM Group and apM Coin project are completely different business entities. apM Group is the owner of apM, apM PLACE and apM Luxe, which are one of Asia’s most popular B2B clothing shopping malls based in Korea. And apM Group will ADOPT apM Coin’s customer reward platform for their 1,300 wholesale brands and hundreds of thousands of customers. That is to say, apM Group is the first and most important dedicated partner of apM Coin project.
Q2 from @LuisAlbertio90
If you summarize apM Coin project in one word, what would it be? What are the core features that create the value of APM?
Richard Seok | apM Coin: There are so many words that I can describe apM Coin project, so it’s somewhat hard to pick a word 🧐 I’d like to say ‘One-and-only.’ apM Coin project will work as the customer reward management and CRM platform for apM shopping malls, which means that the project already secured userbase and service utility from the beginning of the project. This is the reason that the project applies apM Group’s brand to its project name and token ticker. And I think it makes apM Coin stand out in the industry, crypto scene in particular.
Danny | Crypto Revolution: I like the description One and Only. 🙂
Q3 from @AlbaCaner
What’s the meaning of “apM?” Who chose this name? What’s the background of the name?
Richard Seok | apM Coin: When apM Group established its business in late 1990, the company coined the new word ‘apM’ combining AM and PM. This brand name means ‘the mall that never sleep.’
Due to the nature of B2B fashion retail business in Korea, most wholesale shopping malls in Dongdaemun (the head of Korean fashion industry) open throughout the night. Because buyers run their business during daytime and come to B2B clothing malls to place orders and check market trends. In case of apM malls, they open from 8 pm till 5 am, from Sunday to Friday. apM malls are closing during the daytime and Saturday.
Danny | Crypto Revolution: This sounds really interesting compare to malls in Europe for example.
Bina Cho | apM Coin: For your Reference Danny :)
Danny | Crypto Revolution: But I guess is still very busy 😀Thank you Bina Cho
Q4 from @VasiliySantru
APM token is used much like a loyalty. What is its use case with blockchain technology as a solution?
Richard Seok | apM Coin: Yes, tokens of apM Coin projects are similar to customer loyalty. Blockchain technology will play an important role in reducing the inconvenience which may result from the lack of a borderless integrated system and guiding a new path with a data-based structure.
Q5 from @Ale_Urich
apM Coin and apM Cash, two different currencies. Why do you work with two types of currencies? What are the specific uses of each one? Are they interchangeable?
Richard Seok | apM Coin: apM Coin platform’s tokens consist of a listing token which is apM Coin token, and a community token which is apM Cash token. apM Coin token is a listing token and freely tradable in a digital asset market. Its value can be changed real-time according to market conditions. apM Cash token is a community token and this token is circulated only in the APM’s ecosystem only. It has a fixed value, which is currently set as KRW 1 per apM Cash token.
We aim to implement our token-applied services under stable and efficient conditions. Since the listing tokens are traded in the market in real-time, their values tend to be volatile. So we thought that in order to provide token-applied apM Coin’s services to users in stable conditions with less price fluctuation, the dual token system will be better which is converting apM Coin tokens to fixed-valued apM Cash tokens.
Q6 from @Pauline85696656
Where does the APM token come in to play? What are the tokenomics and how is the token used?
Richard Seok | apM Coin: The functions of apM Coin’s platform includes 1) a customer reward management system for hundreds of thousands of customers; and 2) a CRM platform for apM malls’ 1,300 wholesalers.
For your reference, apM Coin platform has two types of tokens. One is apM Coin, a listing token, and the other one is apM Cash token, a customer reward token on our platform and not listed on the exchange.
If customers can deposit a certain amount of apM Coin tokens through our mobile application apM Members, they can receive exclusive benefits. And these exclusive benefits will be categorized based on the number of tokens staked.
For the wholesalers, they can use our CRM system when they stake some apM Coin tokens on the app. By using this CRM system, they can have access to quality and massive customer/market data of apM shopping malls which are collected through apM Coin’s customer reward platform. They can also manage their current/prospective customers through this system and promote their brands on the app too, which creates more opportunities to attain more customers online.
Danny | Crypto Revolution: Could you please explain in more details about the Customer Reward Management System?
Richard Seok | apM Coin: Customers can earn and redeem customer rewards by scanning QR codes in the app; they can receive and use mobile coupons and digital gift certificates through the app. Also, users can convert apM Coin tokens to apM Cash tokens on the app; the converted apM Cash tokens can be used to purchase/use services at apM shopping malls. Additionally, they can receive the latest shopping information such as events, sales promotion of the malls in real-time.
The wholesalers can use the app when they provide customer rewards to customers(buyers), send digital coupons or gift certificates to their customers, and provide their brand’s promotion event information to loyal customers.
Danny | Crypto Revolution: Thank you 🙂
Q7 from @Fero1453
When will apM Members mobile app launch? What will be unique in this app and what features will it support?
Richard Seok | apM Coin: The app is planning to be launched later this year, which would be this autumn. The mobile application is an end-user service of apM Coin’s customer reward platform. Considering the majority of our service users are wholesalers and customers of apM shopping malls who are busy with their own business in huge apM shopping malls overnight, we have tried to make this mobile application as fast, convenient and easy-to-use as possible.
Danny | Crypto Revolution: Do you plan to expand your services around the World?
Richard Seok | apM Coin: No, we are aiming to implement our service in apM shopping malls based in Korea for now. That will be a great achievement.
Danny | Crypto Revolution: Thank you for the explanation.
Q8 from @_rhythms29
Which strategic approach of the team makes you believe it’ll be a successful project? Also, what does apM Coin plan on doing attract more non-crypto users in the blockchain ecosystem?
Richard Seok | apM Coin: I think the fact that apM Coin project has already secured userbase and service utilities in the largest B2B fashion malls in Korea, apM, apM PLACE, apM Luxe, has provided a solid foundation for our sustainable business implementation.
For your reference, apM shopping malls have a very firm customer base, consisting of local and international buyers who are very loyal to apM malls and their wholesale brands. Three apM malls are famous for 1,300+ most acclaimed wholesalers in the Dongdaemun fashion market. Most of these brands have grown with apM malls for more than two decades, which means that apM shopping malls have a strong user base consisting of buyers and wholesalers. Fully utilizing apM Group’s business know-how as a pioneer and leader of the Korean wholesale fashion market, we will provide them with several services that meet their needs.
Q9 from @kiki_pearl
According to the record, you attracted more than 10,000 buyers and over 1300 wholesale brands. How were you able to achieve this success?
Richard Seok | apM Coin: The value chain of Dongdaemun fashion wholesale market is well known for its fast and highly responsive product life cycle. It takes only two or three days from production planning to distribution. In addition to this fast end-to-end fashion cycle, its high-quality products have led to its strong presence in the industry, attracting global buyers from China, Japan and Southeast Asia in particular.
More than 1,300 wholesale brands in apM shopping malls — where most acclaimed wholesalers in the Dongdaemun fashion market and their highly skilled designers gather — have rolled out trendy and premium quality clothing products. And each brand has presented eye-catching products with their unique style, which make them more attractive in the B2B fashion market. Seriously, if you look around the store, it’d be hard to find the same products in the malls as every brand have their own unique style, even for shop displays.
Q10 from @Nic1Cool
Most marketing and partnerships seem to be focused on Korea. What is your marketing strategy to access to these markets? How do you expand a bigger market?
Richard Seok | apM Coin: Due to the strong brand presence of apM shopping malls, we have had many opportunities to cooperate with many famous and legitimate companies. First and foremost, we have focused on making this system work and making it happen so that our users of wholesalers and customers in apM shopping malls can really enjoy benefits of technology as well as our services. This will be our marketing strategy too.
Making our service be used by 1,300 wholesale brand and all visitors and customers of apM shopping malls! Making everyone in apM malls’ ecosystem be aware of the value of apM Coin’s service!
apM malls are visited by more than 10,000 daily visitors and more than 80% are flying from outside of Korea, mostly from China, Taiwan, Vietnam and Southeast Asia. And they are business persons in clothing retail/distribution business. They would voluntarily become ambassadors of apM Coin’s platform if we can provide satisfying services that meet their needs.
Here Bina Cho shared a picture from apM Cafes :)
Since your market is vastly korean based. HOW are you planning to expand it in asian markets?
Richard Seok | apM Coin: We are based in Seoul, South Korea. However, most of our customers come from abroad. Since we were in business for more that two decades we have built a solid business platform in dealing and working with foreign customers. With that know-how, we are ready and actually dealing many foreign businesses.
What is apM geographical focus at the moment and what process does it follow in it’s business development plans? Any plans of penetrating emerging markets in Africa?
Richard Seok | apM Coin: Since apM Coin’s service is planning to be deployed in apM shopping malls in Korea, we will focus on implementing our project in Korea. However, as I mentioned already, more than 80% of apM shopping mall customers are global buyers. They are mostly based in China, Taiwan, Vietnam and Southeast Asia. In this regards, our service will be working in apM malls though, our service area/industry can be expanded across regions.
THE COMPANY HAS EXPANDED ITS BUSINESS BY MANAGING THREE WHOLESALE FASHION MALLS: APM, APM LUXE AND APM PLACE, I WOULD LIKE TO KNOW, DO YOU HAVE A SHORT TERM GOAL TO CREATE ONE IN LATIN AMERICA OR EUROPE?
Richard Seok | apM Coin: Not for now. However, you can meet us at online shopping mall.
As far as I know, South Korea is a country with many large-scale blockchain projects, so how powerful is aPM against it?
Richard Seok | apM Coin: Actually, apM Group has a very strong reputation in Korea as well as in Asia. So when apM Coin project has made an official debut in the digital asset industry, we have received a lot of attention in traditional business as well as blockchain business.
As I mentioned already, the fact that apM Coin has secured a strong userbase of wholesalers and customers in apM malls are key strengths and competitiveness of apM Coin project in this field. And actually, we don’t have a plan to compete with them. We are the one-and-only blockchain-powered project in this wholesale fashion market. There are more opportunities for cooperation with other companies/projects/industry.
We all talk about Positive points/Pros/Good Points & Features of any Project, no one Project tell about there Cons. So can you tell us Honestly the Cons & Lacks of apM?
Richard Seok | apM Coin: I am not sure this can be cons or lacks :) Since apM Coin project has been listed on global exchanges, not holding a public ICO, the number of token holders are relatively small compared to other blockchain projects. Because our objectives is implementing the services!
This is the reason we have focused on expanding our community and holding an AMA to communicate with the industry. We look forward to your supports, Crypto Revolution members too!
Danny | Crypto Revolution: Thank you again for your answers Mr.Seok .
Would you like to address the Community before we open the chat?
Richard Seok | apM Coin: No problem. My pleasure.
Bina Cho | apM Coin:
OKEx x apM Coin team up for up to 50,000 USDT giveaway in OKB 🎁
Exciting news for our current and future community members! 🥰 The giveaway event will start today for 7 days by next Tuesday(23rd of June 2020). Join the event and get a chance to win OKB tokens 😉
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Visit and join now! : https://bit.ly/3e9Ql4U
Richard Seok, CEO of apM Coin was kind to share few pictures from apM Mall:
For more information and future AMAs, join our Social Media channels:
Telegram group: https://t.me/crypto_revolution1
apM Coin Official Telegram Group: https://t.me/apmcoin_official
apM Twitter: https://twitter.com/apmcoin