AMA recap with NFTify 2 Jun 2021

What is your background and how did you tap into blockchain industry?

My name is Nikita Ngan Nguyen, CEO & Co-founder of NFTify.
About my background, I’ve been working in the IT industry for the last 12 years, and Blockchain in particular for the last 6 years.
I’m also the co-founder of Ekoios Technology - Leading Vietnam’s Blockchain & AI Development Company. At Ekoios, we get to engage and provide business & tech consulting, development services to hundreds of Blockchain startups all over the world.
That definitely gives us a general picture of the Blockchain ecosystem, and helps us come up with the idea of creating NFTify, a platform that we’re confident will become very impactful that is lacking out there.
I think that’s enough about me.

Segment 1: Questions from host

Could you tell us about NFTify? and 3 words to quick describe your project?

Well, NFTify is an all-in-one bundle that allows you to create your own NFT marketplace.
First, NFTify is a platform where people can create an NFT store without coding. You know, to develop something like Opensea, Niftygateway…. you need to spend months and hundreds of thousand USD
But with NFTify, anyone can start a store, tokenize & sell NFTs right away
The problem that we wanted to solve here is the barrier when everyone joins the NFT space. We want to lower this bar and allow people to build their own NFT store with just 1 click.
If I have to choose just 3 words to say about our project, I would say:

  1. All-in-one: With the birth of NFTify, everything you need to start creating, selling and trading NFTs is now in the palm of your hand.
  2. Easy-to-understand: NFTify will be here to guide everyone with the easiest NFT marketplace setup available. NFTify makes it sooooo easy for everybody to join. So people who have been curious about NFT but don’t understand what it is, how to make money with it can try.
  3. Customizable: NFTify helps organize the layout of your store’s appearance through themes. It also supports store owners to customize and unlimitedly extend functions via NFTify’s or Community’s plugins.
    These all are the coolest basic features that you’ll be able to experience soon.

What is your view about the rise of NFT market recently? And how does NFTify grow and thrive in the future? Any unique advantages or strategies?

Well, global popularity and interest surrounding NFTs have soared at an unprecedented rate. The current NFT market is extremely valuable, as I remember about $250 million and even growing day by day.
In the upcoming time, more and more people will understand and highly appreciate NFT. Especially for artists, they will understand NFTs help them solve real world problems. Their arts will be delivered to end users faster, less fake issues, everybody gets a fairer share for what they do….
In this thriving market, we see the opportunity. We are a completely different solution from what the market has now. NFTify is the only platform to allow people to create an NFT store without coding, and customize it to make it their own brand.
Like I mentioned before, NFTify makes it sooooo easy for everybody to join. I hope that by this, we will bring in millions of users in the coming years.

Why do you choose to build on PolkaFoundry among many potential names in PolkaDot ecosystem?

Well, we were thinking of building our own chain. However since we’ve known my friend Thi for a decade, we trust that your team is going to deliver what you guys have promised.
NFTify is a solution built on Polkafoundry, a substrate on Polkadot. We benefits a lot from this including Better performance, Low network fees and Cross-chain interoperability
You guys are also 1 of top 10 platforms on Polkadot, so we’re pretty ok

Segment 2: Questions from Twitter

There are many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same? Do you plan to disclose the identity of the team in the future ?
That’s a good question. Yes, this is a real risk with any project especially in the new and rapidly evolving crypto space.
However, we offer some assurances by ensuring our team is public - not hiding behind anonymity.
You guys can go to our website to see our team: https://nftify.network/
We are also not a completely new team. Backed by Ekois - our Blockchain development house in Vietnam, we’ve all been together in the Blockchain space for the last 6 years. For the last 6 years, we’ve developed hundreds of Blockchain projects for startups all over the world. You can easily find us on the Internet

Will there be different options to create a store in NFTify, or will everyone use my same pattern? How free can the creators be when creating their store, can they add some features other than the options in NFTify?
Store owners on NFTify will be able to customize their store by purchasing community plugins to improve: payment method, theme, information display etc.,
Store owners will need to pay a small fee to set up. We haven’t released the pricing yet but the price will be very reasonable. We will offer a variety of subscription plans for users to choose from to suit their needs.

Why do you only offer to use Metamask? Can’t I use with my trust wallet?
That’s right. Currently, the MVP version is designed to only support payments via Metamask wallet because of its convenience, popularity and compatibility with many other networks like BSC. We will definitely support other wallets in the future.

How do you have enough marketing power and capital to advertise your project and push it to the top? How do you make sure that Nftify project will be a hot project when the market plunges these days. Do you have a plan to keep the price of all tokens not fall?
Luckily we have the supports from many partners and advisors. So we reached to them, they are really excited to our project. We have Closes $2.1 Million Fundraising round Backed By Leading Blockchain Investors and going to do the IDO on June 4th. We have also calculated carefully before designing our token metrics. We have 10% for Marketing & Liquidity.
Marketing is also lead by M6 - 1 of the best agencies in the crypto space. Our marketing and business development team have worked hard so far and lined up several partnerships in our pipeline.

DeFi is very hot and is currently taking over the cryptocurrency space, do you have any ideas for implementing DeFi in your platform?
IMO, DeFi and NFT will exist side by side and complement each other’s shortcomings. In the DeFi market, you can trade, mortgage or lend with crypto assets, now you can completely use NFT as collateral. Defi features are also in our roadmap. We will have Defi features such as Staking, Lending etc., so people will be able to use their NFT as asset for financial use.


About NFTify

NFTify, the Shopify of NFTs, is an e-commerce platform where a small business or enterprise can build their own branding for selling, issuing, and trading their own NFTs in one click. Anyone can build an NFT marketplace without coding. NFT authors can issue NFTs easily and detect fake/similar content for copyright protection purposes.

About Red Kite

Red Kite is a cutting-edge launchpad powered by PolkaFoundry as part of the growing $PKF ecosystem. We solve two major problems of early-stage projects: limited marketing and lack of investors due to fraud concerns. Projects on Red Kite are carefully hand-picked through a vetting process that considers everything from the project teams’ origin to legitimacy and execution capability. These projects are also supported by a network of our tier-1 marketing partners, top influencers, and interactive communities to help them soar.

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