This is a transcript from our weekly YouTube live AMA:
Anita Mlakar: 00:04
Hello, everybody. We have such a nice music at the beginning that I could just sing with it. And we have such a nice day here in Slovenia, in Maribor. It’s sunny. And I hope you have a sunny day too. Hello, and welcome to 3air’s AMA.
Anita Mlakar is my name and I’m your host today, as every Wednesday when we are doing this live AMAs please do write down in the chat. Where are you? And how is your weather there so that we could have a chat later. And of course, there’s an opportunity to comment, to ask questions to be with us today. I’m not alone, of course, Sandi Bitenc, CEO of 3air will be also with me in a couple of seconds. But first, let me just invite you to be a part of our communities, a part of our channels, we are on Twitter, we are on Discord and on telegram. And we are actually all the time talking to you answering your questions, of course, giving you information about what is going on in 3air. So please, stay with us. Today, you have the opportunity to ask questions here. And of course, you can subscribe to our YouTube channel, you can recommend it to your friend, you can like it. Today’s AMA, of course, if you do like it, or just write something, whatever it is to stay in connection with us. And I’m always at the beginning of this ama doing a short introduction of our project and of course 3air’s so let me do this today, also.
Africa lacks connectivity and digital resources to scale business causing a detriment to everything from commerce and communications to education and healthcare. And our goal is to drive through financial inclusion and equal opportunities for billions of people who still don’t have access to high speed internet. So 3air empowers them to make life changing progress in work, banking, education and in health. Education, economy, banking opportunities are just a few benefits of stable internet. And 3air will empower a new upgrade in infrastructure and technological implementation, bringing broadband internet, digital TV and telecom to the entire population. And this will automatically unearth new business possibilities, streamline educational resources, better health care, network connectivity, and more and more. So that is a short introduction. And now let me welcome the CEO of 3air, always with us, Sandi Bitenc.
Sandi Bitenc: 02:44
Hello, Anita. Hi, everyone.
Anita Mlakar: 02:47
Sandi Bitenc: 02:49
You are in a good mood today.
Anita Mlakar: 02:51
Sandi Bitenc: 02:51
Not a lot of people are, you know, at least not in the crypto space. I don’t think there are any real smiles.
Anita Mlakar: 02:59
Sandi Bitenc: 03:00
Anita Mlakar: 03:01
Oh my God. Is that something that is allowed?
Sandi Bitenc: 03:05
It is a it is a sad day. It is actually a sad week, I think in the crypto space.
Anita Mlakar: 03:10
But still, you know, we need some smiles, right? We need some positive thinking. Just ask Petra, please because we’re doing a positive week, this week.
Sandi Bitenc: 03:21
Anita Mlakar: 03:22
Sandi Bitenc: 03:24
Maybe you should sing something to us.
Anita Mlakar: 03:27
Sandi Bitenc: 03:28
Anita Mlakar: 03:29
Did you say sing?
Sandi Bitenc: 03:31
Anita Mlakar: 03:33
I will write a song.
Sandi Bitenc: 03:34
Then we will be happy.
Anita Mlakar: 03:36
I will write a song to the music that we have at the beginning. Okay?
Sandi Bitenc: 03:40
And then you also sing it right? I think you like to sing. Is that true?
Anita Mlakar: 03:45
I do like to sing but that doesn’t mean that I know how to sing because everybody likes to sing. There’s a difference.
Sandi Bitenc: 03:52
Yeah, everybody likes to sing when nobody is listening.
Anita Mlakar: 03:56
Yeah, and you know when you’re under a shower, except the neighbours. Maybe I should ask them. No one else can hear you so you’re safe.
Sandi Bitenc: 04:04
Yeah. I don’t think that in my shower anyone can hear me? No, probably not.
Anita Mlakar: 04:10
Really? I think that I could be heard here. So I’m not gonna ask. We have already some people joining us, which is very nice. Welcome. Hello. I see you’re already writing comments. As Joel said, it is sunny on my side. It’s been rainy since last month. A sunny day is a good day. Yes, it is. Sandi, you’re still coughing. What does that mean?
Sandi Bitenc: 04:40
I’m still coughing. Well, I’m feeling better. I actually started my workouts again. So today was the third day after probably a month so that’s not really usual for me but yeah, the cough isn’t going away. So, unfortunately, I do have a history with asthma and bronchitis. And probably I catch something if some of those and that could then last coughing also for two, three months, hopefully not. But else I’m feeling fine.
Anita Mlakar: 05:19
Okay, well, just to give you the info, I was also having basketball yesterday, and of course, pushing myself to the limits, I couldn’t get out of the bed this morning. But this is how it is when you’re 40+, and there’s nothing else to expect.
Sandi Bitenc: 05:36
That’s true but if you really do it regularly, it shouldn’t be as bad, right? You need to take care of a bit of the injuries but I actually feel better when I do work out. So after this month, I actually started feeling pretty pretty, can I say shitty? Okay, so, just after a few workouts already, but the first workout was really hard. It was hard yeah, to do. But now it’s already a bit better. I’ll get back in shape pretty fast. And then it’s important, if you don’t take care of your physical health and strength, you can also not be you know, healthy mentally. That’s my opinion. So it needs to go hand in hand. If you want to have really good focus and everything and work good. You also need physical strength.
Anita Mlakar: 06:36
That’s true but you know, I cannot help it. I was smiling last time that we had a tournament, veterans tournament in basket and the judges had a meeting. And this leader of the judges said, please be careful with this population of players because, you know, their mind wishes to play, but the body can’t. And I heard it. And I thought, Oh, my God, are you really that old. That were the instructions. Can you believe it?
Sandi Bitenc: 07:09
So who was that the jury or?
Anita Mlakar: 07:14
Sandi Bitenc: 07:17
how old were the judges?
Anita Mlakar: 07:19
Well, they’re not all that young. They are younger, some of them but of course, some are also older. But you know, they have this, their job is to watch over us. So they don’t have too many injuries. You know, the tournament, because this is after 35. That means tournament 35 and plus, and they’re also people 60 and 70 years old. You know, it could be dangerous.
Sandi Bitenc: 07:44
Yeah, maybe. But I still think so, 40-50 shouldn’t be a problem to be honest.
Anita Mlakar: 07:53
No, yeah, we’ll see. Okay, Sandi, now, you said before that this is some kind of a sad week, are you gonna tell us why? What is happening?
Sandi Bitenc: 08:06
It’s nothing really to do with 3air at least not directly, indirectly, for sure but the whoever is following a bit the crypto market is just you know, we have a continuous downtrend. And there was a crash that holds Bitcoin down below 30k again, and again today. So it happened twice this week. And yeah, probably the culprit right now is mostly Luna. That’s a project that I found really cool. I think the team behind it is sound and everything, but iIt looks like it got attacked. So apparently there was a coordinated attack against it. And yeah, there was a big sell off from some parties. What Luna actually does, it’s a coin that used to kind of collateralize a stable coin. So something that should be pegged to One to One to the US dollars, and that coin is USD. And they were probably one of the biggest DeFi probably, of course, for sure they were one of the biggest DeFi out there. And Luna recently hit a high of $120. And right now, it’s I don’t know, so it’s changing so quickly, but I actually saw it today below $1. So it went from $120 to below $1 in I think in six weeks, and it went from $92 to $1 in two days. It’s crazy how fast it happened. And yeah, there were a lot of losses, a lot of also realised losses so.
And a part of the collateralization has also been now recently done through Bitcoin. So once this came down, it also took Bitcoin a bit down with it, and Bitcoin then takes everything else down. So it’s really not the best time to be in the market. It’s probably one of the worst times and some people say it’s actually the worst thing that happened to crypto since a long time. But yeah,, there needs to be a bottom somewhere, right? So from the bottom, you can only go up then but the question is, did we hit it? Or it’s still more bleeding coming? That’s kind of a question.
But the market sentiment is, I think we’ve got down to 10 on the market sentiment. So that’s like, really extreme fear. I think we hit this only a couple of times, or maybe three times in the history of Bitcoin. So it’s that bad. And what it actually then means for 3air is that right now, not only for 3air so whatever project wants to launch right now, it’s like a death sentence, when the fear index is so high, so that there is extreme fear out, there are no buyers out, especially not for new altcoins, a small altcoin. So maybe people are looking into getting some some buying in on the dip and some bigger projects that they established themselves already. But if we would launch 3air right now at this moment in time, I don’t think we would have a good launch and it’s not about the project at all.
I’ve been talking also right today, I had a meeting here in Dubai, because a representative of a exchange that we are working with, came here. So I had a meeting with them. And he said like, just look, we didn’t talk to any new projects since two months, that we would say, Okay, let’s launch a new project. It’s just none zero. It’s like we don’t even look at them. Because right now it’s not the right time to launch them. And, you know, he said whoever is smart just waits out a bit. And it’s hard to say, but unfortunately, we do need to wait a bit still for the launch. I do hope that the community understands this.
Anita Mlakar: 12:52
Look at these comments Sandi, I’m happy that 3ari hasn’t launched its token yet. And they agree, very good delay, and so on, and so on. So yeah.
Sandi Bitenc: 13:02
We have everything ready, technically. So we have the token ready, we have done the token. So it’s cross chain compatible right now. So this means that because we’re also looking to launching on another chain. So to get the most liquidity out of it. And we can also tap into some other launch pads, on other chains, and so on. So everything and we are preparing all the stuff in the background. But technically, we could launch tomorrow, it wouldn’t be a problem, we have a launch pad confirmed, we have a exchange confirmed. So everything is in place is just that the market right now doesn’t allow to have a good lunch, and we will probably just everybody would just realise losses. And this doesn’t make any sense because then from something that, you know, it’s just a loss since the beginning getting things you know, the token running back again, it’s so hard and sometimes it’s even impossible and as I said it’s not so much about what the project actually does. It’s about what the market does. So once you’re in the market, you are subject to the market also. So that’s why. We have everything ready. So once we see the market at least a bit turning will will at this point in time we’ll have a date. This is what the agreements now are with the launch pads and the exchanges. So once the market starts turning, we set a date that’s going to be about two to three weeks from that time because what we want to do and also the the launch pads and exchanges want to do is make some marketing before it so that takes around two to three weeks. So this is what the plan right now is. And it is a bit unfortunate, but it’s actually to be honest right now it’s out of our hands.
Anita Mlakar: 15:00
It is smart to wait. Look, Richard is saying Sandi, please focus on the work on the ground, wait out the bear market a bit and then surprise the world.
Sandi Bitenc: 15:13
Yeah, absolutely. So the groundwork is starting, this is something that I owe you from last week. So I couldn’t get any of the of the team that’s going to be working on ground on the call today. Because there everybody’s so busy preparing to go there. But the team is going to be in DRC, they are live starting all the works in first week of June. So that’s actually what two three weeks from now, there’ll be already they’re starting the works. And I’ll make sure that we get some pictures and some videos from DRC once this is starting, but now we are doing a lot of background work in regards to you saw the TMS, the telecom management system, there is a full work going on in putting that what’s been done on to the blockchain. So porting this over, and it’s a lot of background work, it’s nothing that would kind of show in the front end, the front end will stay similar to what it is right now. And the other thing that we are really working on and a whole team is working on this is to actually get the mesh network system running. So that’s a big work that we’re doing. And of course, there’s also the NFT marketplace that we are just having as a site project right now. And we’ll show that today. I’m just waiting because there was just before we wanted to test it, there were some errors still in. So the team is right now working on solving that so that you can actually see how the minting is done. And you know, how can you then buy it and that’s already connected to the chain and sort of stuff. What you won’t be seeing is the real NFTs but I can show you a bit the real NFT is that, you know, the images that we’ve got, that will be there present. I mean, there are 3air connected. I’ll show you those a bit later.
Anita Mlakar: 17:36
Okay, we will be talking about that in a minute. Sandi, maybe before that, till Rok joins us we have announced a new partnership with Heroes- a gaming platform, that is a very interesting partnership, right?
Sandi Bitenc: 17:52
Yes. So Heroes is actually there. They’re launching their game, if you can call it a game. They’re launching their game. I think later this week. I don’t know if it’s Friday or something like that. I’m not 100% sure, I haven’t been following them that closely that I would know exactly when they’re launching. But yes, this is actually something that came out of early when there were so many events happening in Dubai. And I met with the team while I was in London. And then we finalise everything while I was in London. And I think we’ll have- don’t take me by the word but it was kind of verbally confirmed that one of their team members will come on our AMA, next Wednesday. And he’ll be able to explain you everything about what they’re doing. Because I think that they’re doing a really cool stuff. So they have a token economy and insight and app. So it’s actually they build an app, where it’s focused right now mostly on universities and students there. And it allows you to, you know, make some those gigs, something like Fiverr, where you can provide some services, and then you know, somebody else would kind of need those services, and then you can get paid for it inside that app, but it’s made a bit more like social fire more socialising, then, you know, regular applications in that sense. And what it also does, it keeps the whole record of what you have done that you can then later on present maybe when you go and apply for a job or something like that and what they’re doing they’re also rewarding people for participating with with the token and they’re doing some cool stuff also with the token so I think it’s a nice project. And we do want to include it also into the 3air ecosystem, because they are said so. So let me show you one thing before- I see that Rok is actually in our background already ready to present. But he’ll need to wait for another minute or two or something like that.
I’ll show you exactly where they come in. So this is something that we’ve recently done and that represent the whole 3air ecosystem in as little steps as possible. So it’s really a high level overview and what 3air is all about. And what we’re trying to do is actually connect the unconnected or connect the under connected, bank the unbanked and of course, you know, if you’re unconnected and unbanked, you also are kind of, you know, unempowered, let’s say it like this.
So what where we start is, we are connecting people to the internet. So if you want to bank the unbanked right now the majority of the unbanked is also unconnected, so we need to give them an internet connection. And we do this with two technology that we have. So the K3 last mile solution, and our 3air mesh internet that we are working on right now. And then once you’re connected to the internet, you get a digital identity from us where you can actually can store everything on the digital identity. And that’s actually a provable record once you need to- I don’t know, maybe you want to apply for a loan at one point in time, or you want to get a job or something like that you can always say look, this is this, this is what I’ve done. And you can verify everything very easily because it’s done on a digital identity. And of course, you can also identify yourself with it.
Then what we do is we create for the people a digital bank accounts. So literally what we’re doing is we’re giving them a wallet, and they can have a custodial wallet themselves. Or we can take the custodial, the part of the custodian and give them a noncustodial wallet just to make it easier to their, for entering. Of course, with all this time, what we’re doing is educating people, that’s the real empowerment there.
The next step is providing the financial services. So we have an Fiat onboarding ramp, and offloading ramp and also peer to peer cash, crypt onboarding, those stuffs DeFi, we’re working on micro loans and on some staking and yield farming. And then we have our outside partners that will provide additional digital revenue streams and here Heroes come actually into play. So we are incorporating play to earn games learn to earn games, learning incentives and you know, SocialFI and Heroes is kind of a mix between SocialFi-GameFi something like that. And you’ll be able to earn some revenue on it. So this is where they come in as partners. And of course, once we put people through all those steps, of course, they are connected. They are banked. And they’re empowered now, because you know, they have the financial tools, they have the revenue streams, and they have the knowledge, because we educated them this whole time. So I hope this this gets a bit more clarity, again, in how the whole 3air ecosystem is composed.
Anita Mlakar: 24:02
Absolutely! So do write it down in a comment if you understand that if everything is clear, I think Sandi you really did a nice explanation of the whole ecosystem of 3air. It’s now really easy to understand everything that we’re doing actually. Now Sandi, I see that people look, there was at the beginning of this sentence. I’ve been looking forward to this since the announcement because yeah, we will be talking about NFTs and do you have a presentation and demo. And now I think it’s time to invite Rok because he’s waiting for so long.
Rok Mihailovic Krpan: 24:40
Sandi Bitenc: 24:42
Hello. Hi rock. How are you? How are your days stressful?
Rok Mihailovic Krpan: 24:51
Yeah, a bit too much and a bit over the top but I’m still alive. So it’s okay.
Sandi Bitenc: 24:56
You made it here then I think it’s good.
Rok Mihailovic Krpan: 25:05
Let’s say good enough.
Anita Mlakar: 25:09
We were talking about NFT markets, right? Because this is something that everybody is expecting today. And you did decide to make a short presentation to explain to show us something, actually to show us what types of NF T’s maybe. And artists can we expect to find? So please go ahead, guys.
Sandi Bitenc: 25:33
Yeah, so Rok will show you the app and the infrastructure. There are no real NFTs and we just threw in some random images right now. So just don’t look at the images. It’s not about the images. It’s about the marketplace. I’ll show you the images later.
Rok Mihailovic Krpan: 26:03
I hope that you see the screen. Can you confirm Sandi?
Sandi Bitenc: 26:08
Rok Mihailovic Krpan: 26:10
Okay. So let’s, I’ll show you a bit of our new app that we’ve been building. So now, as are past the stage of the presale. So we’re making like all in one app that will evolve into our complete ecosystem. We started with the NFTs and the app that you will claim or token since so let’s start it. So you have the Enter. So here is the like, we have the basic view of the NFTs, as Sandi said, don’t look at them. They’re cartoons, they are placeholders but so you get the basic idea how the Marketplace will look. So we’ll have some like, basic functionality that everyone has. We have some like names, we have some collections. So we can like separate orders and waiting. And on NFTs we like have order we have deadlines. We know when it was created, every author can write something about their picture, about their creation, why they think it’s okay, what they want to message with it. We’re also implementing the royalty systems into our NFT. So every author gets a share of every purchase. So every time you buy an NFT, every time you trade the NFT on the marketplace or anywhere else, you are still giving and like putting part of the purchase into the hands of the author which actually created the NFT and the picture.
So let me just connect my wallet to the Binance chain. We still have the same procedure that we have there. Let me remind you, yeah, the whole app is still in development. So there might be some small problems, some errors now and there. It’s It’s not finished yet. So okay, so I logged in. Let’s say we want to buy some NFT, I think the our magnificence 3air logo is the best NFT to buy at the moment, I guess the price will be much higher. So definitely buy this one. Just standard procedure, I can approve my BUSD connect to other chains, the other currencies that we’ll have. I think Sandi will start with the BUSD
Sandi Bitenc: 28:42
Yeah, we will start with the BUSD and then we’ll add once our token launches. We’ll switch that to 3air so that’ll apparently will be the first official 3air utility. So what you need to do first you need to approve spending of BUSD. That’s a standard you cannot spend BUSD if you didn’t approve it yet more of that Fiat can spend it.
Rok Mihailovic Krpan: 29:13
This is kind of the standard procedure on the every decentralised app, because for your security, the smart contracts and the NFT marketplaces can’t directly use your tokens, use your funds. So every time you want to make a purchase with the new currency or on the new marketplace, you need to approve it. Maybe I was too fast in the Meta Mask when you approve it, you can actually define how much you want to approve for the site or if you want to give them like full access to all of your tokens or things like this. So okay, it takes three seconds or six seconds depends on how fast the chain is and then we have the buy button. And if we have enough of the funds. We get to the buy NFT method. We get the fees, of course we are on the Binance Chain. So fees are low, almost like nothing. Confirm the purchase, and this is kind of it, you get the NFT.
Sandi Bitenc: 30:11
Do we already have also the back end where you can see your NFTs that you bought?
Rok Mihailovic Krpan: 30:20
Yeah, this is exactly what I wrote you about, we’re still in the progress of doing that. So I’d really like to show you, but we’re still missing a few listeners, few functions to actually make it possible. So I can open it, but it won’t work at the moment.
Sandi Bitenc: 30:38
Unfortunately, you can also not see them in your wallet unless you’re using a mobile wallet. I think NFTs support only on the mobile version.
Rok Mihailovic Krpan: 30:49
Yeah, I don’t know. I mean, they still didn’t add it. They’re promising it for over a year now or something.
Sandi Bitenc: 30:58
Will you be able to use Meta Mask only or also other DeFi wallets?
Rok Mihailovic Krpan: 31:06
So yeah, we’ll follow the trend of the other apps and follow the path that we set in our presale app. So you will also be able to connect with wallet Connect. Which means that you will be able to connect any wallet you want. You can still use the Meta Mask or Meta Mask mobile, you can use Trust Wallet, you can use any other wallet that you want that you prefer for the NFTs and everything.
Sandi Bitenc: 31:30
yeah, Coin Base, and I think there are over 50 wallets or something like that.
Rok Mihailovic Krpan: 31:34
Yeah, I mean, I think cover over 90% of the wallets with Wallet Connect. Based on your preference, you can use any of it.
Sandi Bitenc: 31:47
What we are doing is right now we are actually minting those, and putting everything up just to support the African artists, so 3air currently is not taking any share in that one, it may at a bit of a later stage, but what we want to do is really support the local community, grow the community. So we’ll be announcing a few good artists in the near future. We’re already talking to them. And also as you mentioned, maybe, you know once more about the royalty system. So what it means is it’s not only that, once you mint an NFT and purchase it through our marketplace, you know that funds will go to the artists, but then we are implemented the royalty system so that whenever the NFT changes hands, so for instance, I bought it from 3air and then I sold it to someone else, you know, a percentage and usually the standard royalty fee is now around 10%. So 10% of that purchase price would go directly to the wallet of the author so that the author actually gets, you know, some kickback from every time that his artwork is actually sold. So I think that’s really a cool thing. And another thing is, I think Rok, the NFTs will be cross chain, right?
Rok Mihailovic Krpan: 33:27
Yep. So NFTs will implement the cross chain contract, we’re going to bridge them at least to our chain, maybe even on Ethereum or Algorand or whatever we need. So you will have a chance to use them on different markets on different chains.
Sandi Bitenc: 33:45
so it’s going to be the same NFT that you can actually put then on another chain, it’s not going to be a copyright, it’s going to be the same NFT in that sense. Of course, you know, it’s not like, you know, physically- it’s nothing physical there but the bridging will be like, when you bridge something from Binance Smart Chain to SKALE Chain, the one on the Binance Smart Chain will actually stop existing, and it will be get minted, it will kind of get burned on Binance Smart Chain and it will get minted on SKALE Chain. And then you could also potentially take that one from SKALE Chain and then put it on Algorand or something like that, right?
Rok Mihailovic Krpan: 34:28
Yeah, I mean, we’ll implement as much of them as we can and what the community wants.
Sandi Bitenc: 34:36
That’s ready. That’s already implemented because it needs to be implemented in the in the NFTs, right?
Rok Mihailovic Krpan: 34:44
Yeah, I mean, every multi chain functionality that you want needs to be implemented right. I mean, it’s best to implement it right from the start you need to implement it exactly in the smart contract. So this is the only way that you can be sure like you can define there can be no copies there can be no other problems we it so.
Sandi Bitenc: 35:04
And also so a another question. So in the future will would such an NFT as we see it here right now like with an image and you know, an artist behind it and really cool artwork. Can we pair such an NFT with internet connectivity from our side, from 3air?
Rok Mihailovic Krpan: 35:22
Yeah, sure. So as we are doing the tokens, and as we are developing the platform later, we can always link these NFTs, we can always define, let’s say, NFT of the 3air will, I don’t know give you a month of connection, let’s see NFT of a lion will give you, I don’t know, access to our mesh networking or give access to something else like, if maybe if they’re not utility tokens at the moment, we can later add this to it, we can like connect them we can make every NFT something else in the future.
Sandi Bitenc: 35:56
So is it possible to make a kind of a jackpot that, you know, that would grant you lifetime connectivity?
Rok Mihailovic Krpan: 36:07
Yeah, I mean, this is the best thing that we don’t give the utility and every code right from the start. So we can like, buy some NFTs, maybe hold them, don’t sell them at the moment. Maybe it’ll give you a lifetime of internet or I don’t know maybe lifetime access to some kind of connection.
Sandi Bitenc: 36:26
That will be cool, right? You buy an NFT once and you really hold it you just have internet that you don’t need to pay for the Internet in anytime in life anymore.
Anita Mlakar: 36:37
Sandi Bitenc: 36:39
That would be cool, right? Yeah, we’re thinking about doing something new.
Rok Mihailovic Krpan: 36:43
This will be something new.
Sandi Bitenc: 36:46
That would be amazing.
Anita Mlakar: 36:47
Everybody says that this utility focused NFTs are actually something or the future or something, because it’s really something to that, and people are getting familiar with it. I am also and it’s just amazing.
Rok Mihailovic Krpan: 37:04
Yeah, and it’s also a new aspect of the NFTs. It’s no longer just a picture, you’re giving them some actual value something like something tangible, something you can use in the real world, you know?
Sandi Bitenc: 37:18
Rok, can I ask you to share the screen one more time and just maybe give us a sneak peek of the back end for token claims, because what we’re doing is, as you said, the presale is over. So on the presale app now we have like presale.3air.io, where you can then claim your tokens but we want to have a consolidated app. So we are now building this app. And we are putting the claim functionality also on this app and we’ll start adding other things to it. So also the internet connectivity and everything will come.
Rok Mihailovic Krpan: 38:00
Yeah, in the start we’re beginning with the launch, with the NFTs and claim 3air dashboard, where we’ll transfer everything that we had from the presale app, we will ever transfer everything to our let’s call it the app. So you will have everything here, you will claim your token here. I mean, it’s a familiar interface, its still based on the old one. So everybody knows what they’re doing, where they are.
Sandi Bitenc: 38:26
But Claiming tokens will only work on BSC, right? We cannot do it like that it would be claimable because-
Rok Mihailovic Krpan: 38:40
There are some limitations when you’re going with multi chain. We can’t add like vesting contract that will be multi chain. So we can’t like actually guarantee that you will meet a token on specific chain and propagate it to all of the other chains. So the main thing will be on BSC, which I think is perfect for most people because you have a lot of liquidity here, everything is easy for the users because they know it. And the fees are okay. I mean, they’re real low. We can’t go better
Sandi Bitenc: 39:07
Yeah, they’re good. Just to explain a bit what why we cannot do and let you mint the tokens on whatever chain you would like from the ones that we support is because what we would need to do, we would need to have supply on each of those chains. And if we have supply on each of those chains, we cannot vest it. We cannot vest it accordingly because we don’t know where people will claim it. So, it’s potentially doable, but then you would just need to trust us there because the tokens wouldn’t be vested. So we would need to trust us kind of that you know, will will do the right things with the token but how we’re doing it right now. We are locking all our overall tokens in a smart contract, and not even us we’ll be able to use it unless until it’s vested to us. So it’s out of our hands, everything is then done automatically. And you can always trust that the code will do what it’s supposed to do.
So, you know, I can share also the screen right now and show you a bit, what kind of NFTs you can expect. And those are our 3air NFTs. And it’s just these ones are from our designer, so from Laura. And let me know what you think you know about those ones. So it’s everything that you will see as 3air connected. So, I think she’s really a good and talented artists. So I really do like this one because all of those things that you see here, it’s actually your pictures, it’s your 3air fingers that you sent in our community. So we’ve got like a few 1000 of those little 3air fingers up. And what Laura did is she just compiled them together in a collage and made something like this and I think it’s just amazing. It really is amazing. I really liked this one very much. Yeah, so here, we also have some of our images put together 3air fingers, something funky. And a Rhino Man. I know that Laura really likes lions, and she likes to rhinos, and she likes elephants. So. Well, there’s also you know, here’s also our pictures, and maybe you’ll find yourself somewhere in the background. You never know. It’s cool, right?
Anita Mlakar: 40:15
Anita Mlakar: 42:22
Sandi Bitenc: 42:32
So we’ll have some images there. And this is also a one that I really like. So you’ll see this is a part of a four images. And when you compile them together, you get a whole image of a lion. So this is right, left. And okay, this is is not. And that’s a part of the previous image. And that’s less part of the four part image from the lion. Okay, so this is something that’s coming up on the on the NFT marketplace. So those will be for sure. The first NFTs that you’ll be able to buy. And I think they’re really cool.
Anita Mlakar: 43:26
They really are. I was reading conversation today in our telegram group. And a lot of people are really getting to know NFTs, I think for the first time and somebody wrote the collectible side of NFTs is tricky. I also have no idea where to start. I think the future of NFTs will be big in gaming and music. This was one of the comments. So part of this, you know, NFTs is also educating people like we’re doing all the time about what it is. I also see that there is a blog written on the subject of NFTs. We are talking about it right now here in AMA. And this is also a way to educate people and it’s the right way.
Sandi Bitenc: 44:12
Yeah, absolutely. So you know, how to start with the collectibles. It is tricky. And it’s tricky because it’s not so hard to do something and the standards of, let’s say artistic standards are really low in the NFTs. So and it’s not only about art, but I kind of consider collectibles, a partly like art and I think it’s going to go a bit more into art. And the other one is just you know, having the rarity there and the demand for it. So it’s more about the communities that are built around it than it is about the actual, let’s say, artistic value or you know image value. If you have a large enough community, that’s for instance, the board, APE club, it’s for sure one of the best examples of it. So they have a huge community that’s out and they managed to create some value inside that, because it mostly what it is there is just showing off, right? It’s like, look, I have a bought a club, it’s like you have crazy expensive, it’ is almost something similar as driving a Lambo, it’s just you can show it right now on the internet that you’re really wealthy. So I think there is the thing that drives still the value there. But not everything can be something like that, I do think that there will be some underlying value to the NFTs. And that will be derived of the artistic value that there is.
Once we start talking about art, it’s really, really hard to value things because art, it’s almost impossible to value. So it is tricky and the market is over flowing with it. So I think that the easiest way to do it is actually to look for additional utility of the NFTs and mostly then the communities around it. And then of course you need to also like it, I think it needs to kind of be likeable, so that also somebody else would want it. And then you’re good to go if you ask me. So that’s why I also think that the 3air NFTs actually have some future, because we are out to build a huge community around it. And a lot of stuff will be done around the NFTs and as said we’ll also be adding some of the additional utility that’s never been seen before to them.
Anita Mlakar: 46:50
Is this a possibility Sandi to include other artists? I know that we said but in what time, let’s say?
Sandi Bitenc: 47:01
So maybe we can let Rok go, he has a lot of work to do. Let’s give him a chance to say bye bye.
Rok Mihailovic Krpan: 47:22
Yeah, so don’t just kill me out of the stream.
Anita Mlakar: 47:24
Thank you, Rok, for being with us.
Rok Mihailovic Krpan: 47:30
Sandi Bitenc: 47:33
I think it’s going in the right direction, we need to sort out. So give us a bit of a feeling when do you think it’s gonna be ready for some beta testing. So for like open beta testing, so that we would be able to put it on a real test net, and people can go and click through it.
Rok Mihailovic Krpan: 47:53
I’m guessing we could do this. I think next week, maybe some limited better testing some early users or somebody that supported us from the start, and then later roll it out to a bigger community and switch everyone over.
Sandi Bitenc: 48:09
Cool, sounds good. So it’s not far of a workable version. You know, you know the code.
Rok Mihailovic Krpan: 48:19
Yeah, I mean, as I said, we have the smart contracts. We have mostly our back end systems ready. It is the user interface that we’re doing always at the last time. So we finish this and I think we can go to some beta test.
Sandi Bitenc: 48:36
Cool. Sounds good.
Anita Mlakar: 48:38
Looking forward to that.
Sandi Bitenc: 48:42
So yeah, go back to work.
Rok Mihailovic Krpan: 48:49
Anita Mlakar: 48:51
Bye. And like Richard said, Thanks, Rok you rock. That’s a good one. Okay, so yeah, Rok was with us. It’s really, always nice to have him on. He really does a good explanation of things and so much.
Sandi Bitenc: 49:15
Rok is so smart. He’s one of the smartest guys I know. He really is.
Anita Mlakar: 49:22
Yeah, and you’re just saying just go back to work and do some more work, right?
Sandi Bitenc: 49:26
Yeah, I am a bad boss.
Anita Mlakar: 49:30
So okay, Sandi, this is very nice thing. So actually, if we just, let’s say put it under a line. We are actually the plan is to launch NFTs that will give, let’s say, holders benefits. Not only will they have something in their collection, but there will also be some benefits and this is what 3air NFTs are about.
Sandi Bitenc: 49:54
Yeah, absolutely. So it’s not only about the graphics that you see, and we want to give some additional underlying value so that, you know, once you buy it, it kind of you know the image, it’s something that’s on top of it mostly. And then if it has some connectivity to it, then you know that you bought something that you can actually use that you would eat away by. And then once you’ve used it up, maybe it still has some value, right? But either way, you won’t be so disappointed if you just, you know, use your internet connectivity, and then you just have a collectible somewhere still left. I think that is still something additional value that you would never else get. And yeah, so the additional artists, we are in talks, I think with the start of the NFT marketplace, there will be additional artists. And so what you’ve seen right now, it’s only from Laura, from our own in house designer, and she does a great job. But we are already speaking to a dozen of Africa based artists that we want to support. And some are really good. Some are really nice. And we’ll include those NFTs, at the beginning. I don’t know if there will be 10 artists or there’ll be 20 artists or if there will be five artists, but for sure there’ll be additional artists.
Anita Mlakar: 51:33
Yeah, but it’s great, because there will be African artists, and we could also get to meet what they’re doing. So yeah, this is great. We have a couple of more minutes. So if there’s any more questions, you’re welcome to write them down. Sandi, did we forget about something? we were talking about the token launch and then we were talking about work on the ground and NFTs. Did we forget something? Is it something else, of course about the market and what is going wrong right now and that we don’t have any influence on that we can just observe and wait, right?
Sandi Bitenc: 52:09
Yes. So I was hoping maybe we can, you know, talk about the market a bit. It’s right now, the whole market not only the crypto market, so everything that’s risk on so older stocks, the tech stocks are really, you know, being punished. They’re being punished. Absolutely. So, you know, even some of the stocks fell actually more than Bitcoin, can you imagine? that would not be possible, you know, just a year ago, probably, but there were really some, you know, good stocks in, I think, I think Netflix fell 75% or something like that in value. There were like really good stocks that were falling 20 30%. And that’s not something that’s usual, it’s really almost unprecedented. So it happens maybe just a few decades, you know, once a few decades. So it is a tough market. I think the majority of the problems is from the war with Russia. And also China is getting into some COVID lockdowns again.
So, why this is really bad for the markets is that it causes the problem in the supply chain. And if there is a slow supply chain, then you get higher prices, because there is no supply that would actually be able to meet the demand. So if the demand is higher than supply, just the prices go up. So that’s a big thing. And you know, Russia is still one of the biggest ones that are exporting oil and gas. So and that’s a part of the inflation index. China has a lot going on and exporting a lot of things. So those things are getting more expensive because of the lock downs there. So this is what are the outside drivers of the of the inflation. And then of course, the biggest thing is the US dollar is still the majority of all the markets are connected to the US dollar. And everybody’s looking at the US right now and their CPI index. And just right now the CPI index today came out. Again, I think it came out at 8.3% or something like that. And, you know, it was expected at around 8.34, maybe 5, something like that, but it’s still not good enough that we would be able to say that the inflation is has picked out.
And My personal opinion is also that it’s kind of like artificially being kept a bit low, we also need to know that US is in an election year, I think in November, they have the election. So I think right now they’re doing everything that they can just to stop the inflation but the problem is that there are so many outside drivers of the inflation that they don’t have the control over. So the war and China are the biggest ones. So what they’re doing is they’re just, you know, damping down the consumer expenditure. And, you know, if then there is demand is falling, then the inflation that the prices might also stop a bit, you know, at least stopped rising so much. So this is what they’re trying to do right now.
While they’re doing this, to do this, they actually need to spread a bit of fear, and they need to kind of raise the interest rates, and all the markets are leveraged. So what this means is that, you know, not only people majority is institutional, so institutions go and borrow the money and then put it into crypto or into stocks and so on. And they’re paying interest rates on this. And what’s happening, if the defendant raises the interest rates, that money becomes more expensive. So what they’re doing right now is they’re taking the money out and repaying the loan. So that’s why there’s so much outflow of the money, or out of the markets. But what this is starting is actually a recession. So this is putting the whole world into the recession. And that’s, again, not something good for the election. So I don’t think that this is actually doable for a long time.
So what I think is going to happen is that the Fed will still continue maybe with a one two rate hikes, but then they need to start printing money again, because else they’ll just, you know, they need to revive the markets, else, they’ll lose the elections again. So they are now playing, I think a really dangerous game in limiting the inflation because if they want to push the markets again, it’s again, it’s an inflationary environment. So they need to do something that will raise the inflation again. So it’s kind of a probably getting it timed right now. So that in November, the inflation is still a bit under control, and the market starts going up but I think that what this actually set out to is a big, big recession in the next years to come.
Anita Mlakar: 57:46
Sandi, I was listening to some experts and analysts in last days, European and American. And I think they should invite you, you know, to talk about it, because it looks like you know more about it.
Sandi Bitenc: 58:00
They know a lot. Don’t worry they know.
Anita Mlakar: 58:05
They know but all answers that they’re giving right now is like, we are not sure what is going to happen in a month’s time. We cannot predict we cannot say, either they don’t know, or they’re holding it back. You know, like you said, and you are just saying it like it is.
Sandi Bitenc: 58:22
I don’t know if it’s like that. It’s how I see the whole situation but I do think that there is a plan behind it and I don’t think it’s a plan that’s that’s set out to do good for the people, it’s a plan to hold them in power and get them re-elected. And, of course, they need to do something good for the people to get re-elected. But that can be really short live, and the price will be paid later on. And that’s what I’m a bit afraid of. But this is also what keeps me a bit bullish on the market now in the short term, actually. So the short doesn’t mean in the next few days or weeks. But for sure, you know, I’m pretty sure they’ll will have a huge rally going into year closing.
Anita Mlakar: 59:13
Thank you Sandi. Just because we’re going through the questions so that we don’t left one open. Here is also about when will 3air ultimate presale giveaway tokens be visible on our dashboards? It’s a question by Richard.
Sandi Bitenc: 59:33
They should be visible already. Let me check. So I forwarded this to the team. And but yeah, I didn’t get a response back from them if they put them in, because we still need to do that manually. But they have the information. It’s good that you ask, I’ll ask again. And we’ll make this done shortly. So yeah, so tomorrow by Friday, it should be later sent, it’s not something that is really a lot of work. But I see that the team is just they’re putting this off for all the other stuff that they have to do.
Anita Mlakar: 1:00:09
Okay and Jo Ga say, just figured out that Laura used my three finger hand for most of the NFTs. So just let me know if she needs a better quality of it. You must have great fingers.
Sandi Bitenc: 1:00:25
Yeah, very pretty.
Anita Mlakar: 1:00:26
I wouldn’t recognize my fingers. I wouldn’t tell them. I don’t think so. Maybe, I don’t know. They’re long.
Sandi Bitenc: 1:00:26
One goes a bit symmetric.
Anita Mlakar: 1:00:44
Yeah. Well, great AMA. Again, thank you for giving us so much information. Really quality information. And it’s always nice to have you. I’m not saying as a guest, you’re a co host, you are actually the main speaker of AMAs so not a guest. And thank you so much.
Sandi Bitenc: 1:01:08
I think we didn’t miss one week, since we started in October.
Anita Mlakar: 1:01:14
Now we are regular. That’s good. So, well, thank you Sandi. An hour has passed. We will be here next Wednesday with another subject maybe with another guest, we will of course let you know. Stay tuned, be on our channels. Of course, subscribe to YouTube channel if you’re not yet. Or please recommend us to some of your friends and be with us all the time. We’re happy to have you here. Sandi, get well, take care of your health and have a great the rest of the day.
Sandi Bitenc: 1:01:49
You too. Bye!
Anita Mlakar: 1:01:52