Kommunitas

Stephanie Kim from
<a href="https://medium.com/u/6ad6c2a1aeb1?source=post_page-----4a4c245167ae--------------------------------" rel="noopener noreferrer nofollow">MetaBeat</a>
spoke in depth about her project during our AMA session. Feel free to read the recap below for those who missed the event.
SEGMENT 1: INTRODUCTION QUESTIONS
Question 1: Before we dig deeper into your project. Can you briefly describe about MetaBeat to our KOMmunity? and what are the problems its trying to solve?
<blockquote>Ms. Stephanie: Sure I would love to. About a year ago, co-founders began with an idea of a web3 music community platform because we believed in the improvements we can bring to the music industry, especially KPOP industry, with the fair distribution and value sharing ecosystem that rewards the fans for their value-added contributions and give the community the autonomous capacity to grow with the success of the artists.So, we created MetaBeat, a Fan-to-Earn community platform powered by music IP backed NFTs and rewards on fans’ contributions. In essence, MetaBeat is a NFTFI platform, NFT + SOCIALFI. Our community NFTs are backed by real assets, music IPs owned by MetaBeat. The music IPs are protected for 70 years from its first release so the NFT holders receive rewards as long as they hold them.And the SocialFi functions of the app add unique experience and excitements for the users to enjoy. While earning rewards for your fan activities or posts on your social media channels or on MetaBeat platform through our ShoutOut service, you can participate in fan challenges, community privileges and events for your favorite KPOP artists. Eventually, we plan to have each fan community under DAO governance, where the community decides on Shout Out promotions for their artists, events &amp; interactions with their artists, treasury pool allocations, etc.
</blockquote>
Question 2: What do you think is the most important part of MetaBeat?
<blockquote>Ms. Stephanie: I think the most important part is our innovative NFTFI model. MetaBeat makes rewards sustainable by backing the NFT with real assets, and music copyrights. As mentioned, NFT holders will receive monthly rewards as long as they hold them while this protection period of music copyrights is valid, and this becomes the basis of the community to grow with the success of the artists.Nonetheless, my favorite is the Shout Out service, a very unique feature. Kpop has very dedicated enthusiastic global fandom networks. Their word of mouth marketing has made Kpop today’s phenomenon. Our Shout Out service is especially designed to recognize the fans’ value added contributions and reward them. Now, fans can shout out for their artists on their social media channels as they always do and receive rewards from MetaBeat!! And you can take your rewards to purchase more NFT or stake your $BEAT and accumulate even more rewards while supporting your artists and growing the fan community.
</blockquote>
Question 3: Now let’s talk about the token. What utilities does the MetaBeat token have? And what benefits will token holders get?
<blockquote>Ms. Stephanie: As NFT holder, you will earn monthly rewards based on FANomance Index, which tracks the performance of music catalog, fan buzz marketing data, and fan activities on MetaBeat platform.$BEAT token holders can receive the rewards by staking their token at our Mingle service while NFT holders will receive automatically by just holding the NFT in their MetaBeat wallet. Also, you can enjoy many privileges and benefits such as exclusive goods, access to events, ticket privileges, WL access, voting rights to community governance and more, which I think the fans will be much more keen on than turning the tokens for quick profits.The music fans will enjoy and value being a part of the community and interact with the community to grow with the artists. In the long run, you will enjoy the boosted utilities of $BEAT tokens as we further expand our contents and ecosystem.
</blockquote>
Question 4: Does your project have any program like token burning to attract many investors to invest?
<blockquote>Ms. Stephanie: Yes, we have buyback &amp; burn plans in place. First, music IPs owned by MetaBeat generate monthly copyright revenues in fiat money. These revenues will be reinvested to obtain more IP, and/or buyback $BEAT tokens and put them back into our governance.Secondly, the platform has six revenue sources from the platform transactions and a part of our fee revenues generated from these transactions will be burned regularly.
</blockquote>
Question 5: Can you share some details about recent major achievements done by your project? Also, what are the future roadmap &amp; targets of your project?
<blockquote>Ms. Stephanie: Considering the current market situation, I think our achievements are quite notable and were recognized by the top tier funds and backers as they joined to support MetaBeat. Also, we have partnerships with 9 domestic entertainment production and entertainment companies, numerous crypto/nft platforms and solution companies to expand our ecosystem, contents and technological capabilities. In addition, we collaborated with crypto.com nft to drop MAMAMOO Special Edition nfts and kick start our fan community.MetaBeat app will go live when we list our token on CEX, which is coming very very soon. Hence, our immediate goal and focus is a successful launch of our app and ICO. Our Beta version app will be launched in English and Korean with four main services. We will keep this momentum and continue to move forward fast. We plan to go beyond KPOP and expand to other music catalogs to bring diverse music communities onboard. I am confident that our team will pave the path as we grow to be a top global platform for all music communities.
</blockquote>
SEGMENT 2: LIVE SESSION
Question 1: Are you afraid some day there will be another project with more innovative technology can replace your project ?
<blockquote>Ms. Stephanie: Very interesting questions. No one has asked me this before. Are we afraid? No we are not afraid but, we do look out for what our competitive platforms are doing. Because our business structure involves ownershi of music IPs, it is not easy to replace as we have 4,000 music IP available for us to drop on our platform. Also, our ShoutOut service will not be easily replaced once we have the fan community built-up and active in supporting with artists. However, I welcome good competitions because I believe we together grow the overall market together and bring more users to crypto space.
</blockquote>
Question 2: Is your project a community only for English speaking an countries or for users not of other languages?
<blockquote>Ms. Stephanie: Our team is based on Seoul, Korea. Our app beta service will be launched in English and Korean. However, we do have plans to expand the language base to cover more global music fans. All this will come in phase.
</blockquote>
Question 3: Staking programme is very important for any project? Can i stake your token? Do you have any plan of starting staking programme?
<blockquote>Ms. Stephanie: Yes we do have staking program called Mingle. Users can stake $BEAT tokens at our Mingle pots. Each Mingle pot is backed by music IP and $BEAT stakers will earn monthly rewards based on FANomance Index, which tracks data on the performance of music catalog, marketing buzz created by the fans and fan activities on MetaBeat platform. Also, we plan to make our Mingle service a fun playground for users. Users can easily move in and out of Mingle pots, creating their own portfolios while enjoying special events and drops we will make for the participants.
</blockquote>
Question 4: Non-crypto user is very important for mainstream adoption. How you are planning to attract non-crypto users towards your project? Is there any upcoming partnership that will brings non-crypto user and real-use case?
<blockquote>Ms. Stephanie: Yes I totally agree. One of our founding companies is RBW, Korea’s top 5 IP holder and entertainment company. They have affiliated artists with 50million followers all together. We plan to bring them onboard. We will reach out to the KPOP fandoms and fan clubs when our app is in full service. Hence, we have made our UI/UX very intuitive and easy to use even for non crypto experienced users.
</blockquote>
Question 5: Do you have Token holders have the right to participate in the Governance of your project. On what kinds of decisions can they vote on about of the project?
<blockquote>Ms. Stephanie: Yes, token holders and nft holders will have right to vote on fan community governance. We will have the fan community under DAO governance, so the fans can decide on which ShoutOut promotions to do for their artists, how to get involved and how much they want to allocate the treasury pool in supporting their artists. The fan community membership system and DAO governance integration will be adopted in phases on multilateral layers. This means that once we reach the critical number of users, we will expand the DAO governance in phases.
</blockquote>
SEGMENT 3: LEARN AND EARN
Question 1: What kind of assets backup MetaBeat’s NFTs?
<blockquote>Answer: Music IP
</blockquote>
Question 2: Name three $BEAT token utilities
<blockquote>Answer: to buy NFT, concert tickets, goods or stake at Mingles or earn voting rights.
</blockquote>
Question 3: MetaBeat is a F2E platform, what does F2E stand for?
<blockquote>Answer: Fan to Earn
</blockquote>
Question 4: Which KPOP group was part of MetaBeat’s first NFT series collection?
<blockquote>Answer: MAMAMOO
</blockquote>
Question 5: When does $BEAT public sale start on Kommunitas?
<blockquote>Answer: Oct. 4 at 9am UTC
</blockquote>
MetaBeat Official Links
🖥️Website: <a href="https://metabeat.foundation/" rel="noopener noreferrer nofollow">https://metabeat.foundation/</a>🐦Twitter: <a href="https://twitter.com/metabeatoffl" rel="noopener noreferrer nofollow">https://twitter.com/metabeatoffl</a>⭐Discord: <a href="https://discord.gg/K38awKXCA4" rel="noopener noreferrer nofollow">https://discord.gg/K38awKXCA4</a>💬 Telegram Group Discussion: <a href="https://t.me/metabeat_offl" rel="noopener noreferrer nofollow">https://t.me/metabeat_offl</a>🔊 Telegram Announcement: <a href="https://t.me/metabeatoffl" rel="noopener noreferrer nofollow">https://t.me/metabeatoffl</a>

[RECAP] AMA: Kommunitas x MetaBeat

Kommunitas Official

Other articles published on Oct 6, 2022

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