The Famous Token x Satoshi Club AMA Recap from 13th of February

The Famous Token x Satoshi Club AMA Recap from 13th of February


Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from The Famous Token and our guest was CryptoWonka and Joel Digital. The AMA took place on 13 February.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

D. | Satoshi Club:
Hello Satoshi Club!

Gold Rocket | Satoshi Club:
Hello, dear Satoshi Clubbers!
We are pleased to announce our AMA with The Famous Token.

D. | Satoshi Club:
Our guests today — @CryptoWonkaOFCL @Jfkdigitals ! Hey guys! Welcome!

Joel Digital:
Very happy to be here.

CryptoWonka | Founder of @cryptomindsgroup:
Good to be here!

D. | Satoshi Club:
So let’s begin with the intro? Please tell our community a bit about yourselves and your project

Gold Rocket | Satoshi Club:
How did you get to be involved in crypto & The Famous Token?

Joel Digital:
We are a team of engineers, businessmen & lawyers. The Famous Token is the newest project in Defi & NFT. It is something completely new.

Gold Rocket | Satoshi Club:
By the way, how many people are on your team? Are you anonymous or public?

D. | Satoshi Club:
crypto is a sphere where new things born

Joel Digital:
We are 5 people and we are public. We have several advisors but they don’t count as core Team members. In total, we are about 11 people.

D. | Satoshi Club:
When your team was formed?

Joel Digital:
We started the project in September 2020. And we launched 12 days ago.

Gold Rocket | Satoshi Club:
Wow, congratulations!

Joel Digital:
Yes, it was a great start.
We raised 100 ETH in a private sale.
And 200 ETH in the public presale.

D. | Satoshi Club:
Nice, so you had many months to prepared

please, tell us a bit about The Famous Token. what is this?

Joel Digital:
The famous token is a NFT project. We have very limited artwork. 1 artwork per famous person. You can earn this artwork by staking TFT+ETH on the platform. We want to digitize the value of famous people.
This means for example a NFT of Elon Musk might be more worth than a NFT of Britney spears.

D. | Satoshi Club:
Interesting, hard to compare these two people and their value

Joel Digital:
Exactly. The market gives the value.

Gold Rocket | Satoshi Club:
Well thanks a lot for the intro! Are you ready to proceed to questions from the community?

Joel Digital:
Let’s go.

D. | Satoshi Club:
Q1 from Telegram user @Brainchest
The succes of my investments depend from from the demand for NFT. Do you consider that your NFT using the image of stars for sale affects copyright? Plus, celebrities can release their own NFT, and for fans it is much more valuable. Thus, the project may not be in demand, and my investment will be negative. Do you have plan B in this situation? So the major line of the question — is this legal what you do?

Joel Digital:
There are no legal concerns regarding copyright. We have found a solution to this. NFTs are very at the beginning we don’t know how your investment will develop. What I see is that this year NFT projects are a hot topic.
And we want to be the biggest NFT project. Please check the roadmap. Yes, it is. We have a legal advisor as well.

Gold Rocket | Satoshi Club:
By the way can you share the roadmap with us?

D. | Satoshi Club:
Yep, NFTs are the super hot topic already

Can you share the names of your advisors?

Joel Digital:
The team members are on the website.
www.thefamoustoken.com

D. | Satoshi Club:
Lots of cool things in the pipeline.

Joel Digital:
Well known community advisors @CryptoWonkaOFCL @charlesfrogfish.

D. | Satoshi Club:
Q2 from Telegram user @AugusS7
Currently the vast majority of DeFi projects are focused on NFT tokens, but none really propose a real utility, but if The Famous Token will have it, how will it achieve it? And really what is that real function that the others have not been able to implement?

Joel Digital:
Thanks to $TFT you have the possibility to digitize the value of a famous person.
This works through staking $TFT+ ETH.

https://youtu.be/P2XuMpeNNwg

D. | Satoshi Club:
So I need to stake these two assets $TFT+ ETH to mint NFTs? Or how is it works? This is very cool that you have a video, btw, but can you explain, how is it works as well?

Joel Digital:
Exactly.
I have attached you a Video where it is explained.

Gold Rocket | Satoshi Club:
Indeed, video is good

D. | Satoshi Club:
Nice guide, looks like everything is very simple

Joel Digital:
1) You buy $TFT on Uniswap.
2) You add liquidity on Uniswap (ETH+TFT)
3) You stake on www.thefamoustoken.com
4) You earn cards
5) With enough cards you can mint a NFT.

We work very precisely.

D. | Satoshi Club:
How many cards I should have to mint 1 NFT?

Gold Rocket | Satoshi Club:
How do you plan to solve high fees problems at ETH?

Joel Digital:
It depends on the collection. Golden collection 100 cards. Platinum collection 150–200. In our newest collection, we will introduce 50 cards. We are working on something to solve this. At this point, I can not tell you more.

D. | Satoshi Club:
Q3 from Telegram user @meml97
From what I understood, your project is based on selling-buying famous people images cards, but will this cards representing each one of them be classified into some sort of leves of famous? For instance a Freddie Mercury card will have the same value or be in the same category as a Justin Bieber card? Speaking of this, how many of this cards will I need if I want to have a NFT?

Joel Digital:
After you earned your NFT through staking you can sell it on Opensea (if you want). We have different collections (different style). These NFTs are very limited because there will only be 1.

D. | Satoshi Club:
Do you have plans to work with other NFT markets on other blockchains?

Joel Digital:
It’s something we are reviewing.
Especially for our decentralized marketplace.

D. | Satoshi Club:
Trade on Opensea is very expensive now

Gold Rocket | Satoshi Club:
Have some famous persons approached you with a request to immortalize themselves in the NTF?

Joel Digital:
Not yet.
But we think this will happen sooner than later.
You can imagine what for a boost this would be for $TFT
We are a 2 week old project

D. | Satoshi Club:
it will positively affect the whole project

Joel Digital:
Yes.. our community is very international. This means at one point someone related to a celebrity will approach us.

D. | Satoshi Club:
Q4 from Telegram user @Arisabela
The Famous Token has an ERC-20 token contract. Many investors are complaining about the incredibly high fees that must be paid with Ethereum, how is the fee strategy for The Famous Token so it won’t be a disadvantage for the platform?

Joel Digital:
It is the same answer as mentioned above.
We are working on it.
But can’t disclose more right now. Timing & strategy is everything.
We work hard to solve this because it is a big issue.
I mean who wants to pay 80$ gas fees??

D. | Satoshi Club:
No one!

okay, I want to ask you about the contract audit then. Your contract is audited?

Joel Digital:
Yes, war on rugs has audited it.

D. | Satoshi Club:
Can you share the results of the audit?
War of rugs? I’ve heard they made a lot of noise on Twitter, but I did not know they do an audit as well

Joel Digital:
https://twitter.com/waronrugs/status/1358565990263631872?s=21

D. | Satoshi Club:
Thanks!

Joel Digital:
Yes, the community voted they would like them to audit it.
• war on rugs
• solidity
The community voted war on rugs. We are very community-driven. Without our community, we couldn’t improve as well as we are doing. We are not experts in everything. But we are experts in listening to our community.
I think that’s why our community is so strong in that short time period.

D. | Satoshi Club:
Q5 from Telegram user @cengizhantekin
In the TFT system NFT cards of famous people are created, and anyone can propose a famous person through a decentralized platform. But “famous” is a relative term since you are a global project, meaning one may be famous in China but not in Russia. Do you have a verification mechanism to accept or reject a proposed person as famous? After the proposal go public, what are the criteria to be approved? For example, is there a chance that I propose myself and get my own NFT if I got sufficient votes?

Joel Digital:
Yes, if you get enough votes you will get your own NFT artwork. (If you have a certain level of Twitter, Instagram or Spotify followers). But if no one knows you.
Nobody will use their cards to mint your NFT..

D. | Satoshi Club:
Cold true

Is it possible to mint NFTs of famous animals from the Hollywood movie? is it possible? like that dog from Mask movie with Jim Carrey?

Gold Rocket | Satoshi Club:
King Kong, Godzilla, and more …

Joel Digital:
I really love crypto.
That’s a completely crazy idea.
And many people will like it.
I have never thought of it.
Maybe we should do a special animal collection?
Let’s see what our community says

D. | Satoshi Club:
Haha

glad to help.

Q6 from Telegram user @JuanSB07
How do you intend to integrate TFT into the Dapps of social networks? And how do you intend to integrate TFT into the decentralized market itself? Do you think it is possible to achieve these goals this year?

Gold Rocket | Satoshi Club:
Satoshi Club is a place where there is always a brainstorm

Joel Digital:
We intend to do it and we will do it.
Our community knows how we work. 2021 is a long year to go and we are working 18 hours per day.
I quit my job as a mechanical engineer to ensure we will succeed in the biggest NFT project in 2021.

D. | Satoshi Club:
Wow! bold move! I hope your project will succeed this year

Gold Rocket | Satoshi Club:
Big goals take a lot of work!

Joel Digital:
Yes. Let’s open the chat.

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Johnny

Hello Joel. Am clear that I will need 100 cards to mint my famous NFT. How can I get more cards? Also, If I don’t have the needed card, can I reserve the NFT of a famous till I get the required number of cards or it will always be a case of first come first serve?
@Jfkdigitals

Joel Digital:
You need to stake more TFT to earn more cards.
First comes first serves.

Q2 from Telegram user @ Rosemary Bianco

Why do they say that TFT is ”the first NFT with a real use case”? And how can I get rewards cards using TFT? What is the link of the cards with famous people?

Joel Digital:
The use case is to digitize value of famous people through Defi.
You earn cards by staking TFT+ETH.
With these cards you can mint a NFT.

Q3 from Telegram user @ Robert CryptoCypherX

FamousToken has a unique concept that stays different from others. Which category of audience do you target Crypto Or Non-Crypto?If both how does team plan to focus on both and bring new people into the field?

Joel Digital:
Crypto people.
We don’t have any competition.

Q4 from Telegram user @ Robert CryptoCypherX

Can you explain the Tokenomics of the token, how it is Distributed ? How many tokens Will be minted and how many of those will be held by the team and for what purposes ? Also how experienced is the team behind the token?

Joel Digital:
The tokens are vesting over 6 months.
Liquidity is locked.
We are very focused on delivering.
All members have deep experience with crypto.

Q5 from Telegram user @ Khalee

How many $TFT would I need to stake to get 1 NFT? I mean reward ratio?
@CryptoWonkaOFCL
@Jfkdigitals

Joel Digital:
100 TFT + ETH value for 50 days.
If the NFT needs 50 cards

Q6 from Telegram user @ Boylut

I’m a fan of Michael Jackson, is it possible to digitalize him using The Famous Token? @Jfkdigitals

Joel Digital:
Yes, yesterday our community said they would like him.
He will be soon on our platform.

Q7 from Telegram user @ Karoceh

The meaning of famous in my opinion is subjective, there is no parameter that someone is more famous than others. How do you determine who will be painted on the card? was the community involved in these elections?

Joel Digital:
Yes, the community gives decentralized proposals through our decentralized voting platform.

Q8 from Telegram user @ Boylut

What functions does the $TFT play in your ecosystem and why should we hold it? @Jfkdigitals

Joel Digital:
You shouldn’t hold TFT. You should stake it. Stake it with ETH.
Then you earn cards and after some time you have the chance to get a NFT.

Q9 from Telegram user @ Sofia Isla

Can you explain to me about the limited NFT images? How can I get it and what benefits does it bring me? Does it have special functions or something?

Joel Digital:
https://thefamoustoken.medium.com/how-to-stake-the-famous-token-498a0947226b

Q10 from Telegram user @ AL

I was observing the distribution of the tokens in your website and it caught my attention that the “35% Blocked”.
35,000 tokens locked for 12 months.
Could you explain to me what is this? Thanks

Joel Digital:
37.000 tokens are in circulation.
35.000 tokens are locked for 1 year.
The other 28.000 tokens are locked for 6 months (vesting).
This means every week the Team, development & marketing get tokens.

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

For more information and future AMAs, join our Social Media channels:

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Website: https://esatoshi.club/

Our partners:
Telegram Community — https://t.me/TheFampusToken
Medium — https://thefamoustoken.medium.com/

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