KuCoin AMA With Atem Network (ATEM) — Connecting Creators and Communities on Web3
Dear KuCoin Users,
Time: November 17, 2023, 11:00 AM - 12:49 PM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with Atem Network’s Co-Founder, Leo, in the KuCoin Exchange Group.
Official Website: https://www.atem.io/
Follow Atem Network on Twitter, Telegram and Discord.
Q&A from KuCoin to the Atem Network Team
Q: What is Atem Network, and what's its primary objective? And what makes it outstanding?
Leo: Atem Network acts as a hub for decentralized content creation. Our primary goal is to empower creators by helping them convert their content into NFTs and fostering web3 communities. Content produced within the Atem Protocol is stored in a decentralized way using Arweave and IPFS. Creators can mint their content as SBT (Soul Bonded Token).
As of September 2023, AtemReview boasts more than 200k users, over 400k pieces of content on Arweave, 2.5M interactions, and 10k+ Daily Active Users (DAU). We've also been hosting the "Infinity Gems Carnival" since February, involving over 30 projects and attracting 20k+ users, resulting in the minting of 130k+ Infinity Gems.
Atem leverages Arweave+IPFS as a decentralized storage solution to provide best user experience with most efficient cost. Compared with other decentralized storage solutions like IPFS or FileCoin, Arweave stores the data on-chain and provides persistence and permanent storage while also supporting fast retrieval. Although Arweave provides fast retrieval and won’t suffer from data distortion, the expense to store data is generally much higher. This will become a challenge when it comes to rich content, such as AtemReview. To guarantee a healthy network effect under the premise of decentralization, we introduce Arweave+IPFS as a decentralized storage solution. All text content generated on Atem will be stored in Arweave, and rich content such as pictures and GIFs will be stored in IPFS.
Q: What distinguishes centralized from decentralized content platforms?
Leo: For Centralized Content Platforms: Giants like Facebook boast over 2.9 billion monthly active users, with Meta Platforms overseeing platforms like Facebook, WhatsApp, Facebook Messenger, and Instagram, each with over a billion monthly users. These platforms offer multilingual support and connect people globally.
For Decentralized Content Platforms: In contrast, decentralized platforms offer solutions to issues such as censorship and data privacy concerns. We provide content creators with ownership, operational transparency, freedom of expression, privacy, and incentives for content creation and community engagement. While decentralized content platforms are still in early stages, presenting unique advantages.
Q: How can creators tokenize their content on Atem Network?
Leo: Creators can turn their content into NFTs by launching NFT collections that users can acquire and trade. Creators enjoy full autonomy to set the number of NFTs and their initial prices. This approach empowers creators to tokenize their content and build a creator-focused economy without relying on centralized platforms. Additionally, creators can create their unique NFTs to engage with and manage their communities, allowing fans to join creator membership clubs by owning a creator membership NFTs.
Q: What's the role of the ATEM token in the Atem Network Ecosystem?
Leo: The ATEM token plays several crucial roles within the Atem Network ecosystem. It serves as a utility token, enabling transactions as a payment token for creator and content NFTs while reducing transaction fees within AtemChat. We anticipate more ecosystem dApps to leverage ATEM as the fundamental utility token. The token is also employed in our social incentives system, where ATEM tokens are burned to encourage user engagement with the protocol. Additionally, ATEM is used for voting and governance in the Atem DAO, granting token holders influence over the platform's fee collection and community treasury management.
Q: How does Atem Network incentivize content creators and NFT holders?
Leo: Atem Network offers various incentives:
For Creator NFTs:
● Revenue Sharing: Users who acquire creator NFTs can earn a portion of the revenue from subsequent content NFT sales, with the proportion determined by creators.
● Exclusive Privileges: Creators have the flexibility to bestow exclusive privileges upon NFT holders, such as access to exclusive content.
For Content NFTs:
● Platform Incentives Sharing: Content NFT holders can receive EXP splits from specific content, with the exact proportion decided by creators.
● Exclusive Privileges: Creators can also define exclusive privileges for content NFT holders.
Additionally, users can progress to higher levels based on their EXP, unlocking various benefits within the Atem Ecosystem, including airdrops and exclusive events. The level a user can reach is determined by their historical EXP, even if it's converted to $ATEM.
Q: What is the funding history of Atem Network? Any listing information?
Leo: Atem Network was established in December 2021, focusing on building web3 social protocol. We received $3M USD seed funding from top-tier VCs, crypto funds, and crypto exchanges, including GSR Ventures, Mirana Ventures, Foresight Ventures, A&T Capital, INCE Capital, Mask Network, Zonff Partners, Atlas Capital, Michael Zhang (co-founder of Zhihu).
We sold out $450k $ATEM allocation on Poolz and gamefi.org, which are top tier IDO platforms in the crypto industry.
We listed $ATEM on KuCoin, which is one of the top exchanges, and gate.io. On the same day, $ATEM was listed on MEXC as being trending.
Q: What's Atem Network's roadmap for future developments and expansions?
Leo: Since February 2023, Atem Network has been hosting the "Infinity Gems Carnival" alongside more than 30 projects, resulting in over 100K blockchain interactions and attracting more than 200K registered users to the Atem Network.
Going forward, we will continue to develop our projects from three perspectives.
1. We will explore more features to help content creators engage with fans.
2. We will help build credential systems for creators and active users.
3. We will make it easier for content creators to create content and help users to easily onboard web3.
Q4 2023:
● Improvements to the Revenue Share Model
● Multi-chain Expansion
Q1 2024:
● Introduction of the Mobile Version of AtemReview
● Implementation of Token-gated Content
Q2 2024:
● Implementation of a Credential System with SBT
● Onboarding More Content Creators
These upcoming initiatives underscore Atem Network's commitment to continuous growth and innovation.
Q: Can you share some details about Atem's technology?
Storage Solution: Atem leverages Arweave+IPFS for decentralized storage, delivering a top-tier user experience at an efficient cost.
NFT Standard: Atem adopts ERC-1155 as the NFT standard for creating content and creator NFTs. This standard is well-suited for creator and content NFTs, optimizing gas usage during transactions.
Token-gated Review: Our Token-gated Review feature is encrypted by default, ensuring content is only revealed when our server confirms the address's identity through on-chain data verification. Other addresses won't have access to token-gated reviews.
Dynamic NFT Display: Atem supports dynamic content NFTs through two methods: creators can refresh NFT metadata in notes they share by updating storage, or they can communicate with the Atem platform to dynamically update metadata via an Oracle.
Token-gated Communities: Creators can create their Creator NFTs to establish creator communities using ERC-1155 via the Atem protocol. Users can join these communities by purchasing Creator NFTs and directly interacting with creators in token-gated environments.
Free-Ask from the KuCoin Community to the Atem Network Team
Q: What is the most appealing feature of the platform that sets it apart from competitors, and what are you confident about for the platform? How do you plan to attract users to choose Atem Network?
Leo: First, we help creators to own their content and relationships by creating content on-chain and storing it on-chain. Second, we support multiple chains, including BNB Chain, Scroll Ethereum, and Aptos, for creators to easily create NFT collections with their fans on different chains. Lastly, our ecosystem product has attracted over 500k users, generating over 400k content on Arweave. Making us one of the largest social platforms in web3.
Q: Revenue is important for all projects to survive and maintain the project/company. How have you built a complete project, and how can you generate profit/revenue from the token? What is the income model?
Leo: We are one of the largest social platforms in web3, and The ATEM token plays several crucial roles within the Atem Network ecosystem. It serves as a utility token, enabling transactions as a payment token for creator and content NFTs while reducing transaction fees within AtemChat. We anticipate more ecosystem dApps to leverage ATEM as the fundamental utility token. The token is also employed in our social incentives system, where ATEM tokens are burned to encourage user engagement with the protocol. Additionally, ATEM is used for voting and governance in the Atem DAO, granting token holders influence over the platform's fee collection and community treasury management.
Q: Are you satisfied with the progress and achievements you have made so far since starting this project?
Leo: Yes, since our launch two years ago. We have built and explored the web3 social area and we are very happy to share that we have attracted great traction with users and within the community. We believe going forward, Atem will play a crucial role in the web3 social industry.
Q: Is your platform suitable for beginners in the crypto space? Or is it exclusively designed for professional users?
Leo: Our platform is user-friendly to beginners since it’s a user-facing social product. We take user experience very seriously, and we have made great traction after our effort in building better social protocol and user-facing products. AtemReview has attracted over 500k users, created over 400k content on Arweave, and generated over 2.5M interactions.
Q: How do you plan to engage and retain new users and investors in your project for the long term? Marketing plays a crucial role in project success, and it is essential to create awareness about the project's potential to achieve its goals. Can you share your strategy?
Leo: We will keep exploring and building awareness in the web3 communities, including partnering with public chains, web3 projects, etc. We have also designed a social incentives system to incentivize content creators and users to use our platform.
KuCoin Post AMA Activity — Atem Network (Atem Network)
🎁 Participate in the Atem Network AMA quiz now for a chance to win $10 in ATEM!
The form will remain open for five days from publishing this AMA recap.
Atem Network AMA - Atem Network Giveaway Section
KuCoin and Atem Network have prepared a total of $1,500 in ATEM to give away to AMA participants.
1. Pre-AMA activity: $600 in ATEM
2. Free-ask section: $50 in ATEM
3. Flash mini-game: $400 in ATEM
4. Post-AMA quiz: $450 in ATEM
Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.
Follow us on Twitter, Telegram, Facebook, Instagram, and Reddit.