Community AMA: MetaBrands & DEXTools
DEXT + MetaBrands AMA Recap
Questions from the Community AMA on November 22, 2021 (11AM EST)
Location: DEXTools Community Telegram
Special thanks to the host, Wael Rajab (DFV Committee)
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Hey, who do we have the pleasure of speaking with? Can you Introduce yourself?
Hello everyone, my name is Hans aka Gandalf, and I am on the DAO advisors to MetaBrands. I have been embracing nascent technologies for more than 25 years, and live by the motto “Even if you fall on your face, you are still moving forward”. In whatever role, ever since the birth of the internet I am committed to learn and guide new technologies in finding their way into society. Find it important what technology can do socially, economically and as a tool for personal empowerment.
What is MetaBrands and what is it hoping to achieve?
MetaBrands is a Metaverse Resource DAO that participates and contributes to the top-performing play-to-earn models and player-owned economies. The yield generated through these diverse contributions in many realms of the metaverse are shared through the monthly yield airdrops program to owners of the MAGE Relic NFTs.
What is a Metaverse Resource DAO?
A Metaverse Resource DAO is a decentralized autonomous organization comprising of the 12 core advisors, MAGE Relic owners, and MAGE token holders. This collective will govern and manage the assets and resources within the Metaverse in order to grow and generate yield on a monthly basis. DAO participators will be able to vote and create proposals around 3 fields: Operating Protocol (Core), Contribution Strategies (Strategy), and Resource Deployment (Resource).
What makes the MetaBrands model unique?
The MetaBrands model is unique from many different aspects, depending from which angle you are looking at it. MetaBrands can be seen as an ally in the space to help elevate other projects and ecosystems by contributing and participating on a much higher level than an individual. Another aspect of MetaBrands that is not so uncommon these days, yet still revolutionary, is that the community and DAO decide the direction of the project, which projects it wants to contribute in. Taking things one step further, what makes this even more unique is that 80% of the yield generated from different contributions will be used to buy back the MAGE utility token off of the public market and then airdropped to MAGE Relic owners.
What type of models does MetaBrands participate and engage in?
MetaBrands will focus on play-to-earn environments, metaverse-based ecosystems, and player-owned economies. It is not limited to any particular model because the core of the project is dynamic, thanks to the DAO and community.
What are some of the key features of the MAGE utility token?
MAGE is the governance and utility token in the MetaBrands ecosystem. One key use case of the MAGE token is NFT minting, as the MAGE token is sacrificed or burned in order to create the MAGE Relic NFTs. The MAGE token is also used alongside the MAGE Relics to vote on DAO proposals — one token is equivalent to one vote. Furthermore, the MAGE token can also be used for payments, liquidity mining, whitelisting, and discounts (when used to purchase assets directly from MetaBrands’ Treasury).
How do the MAGE Relic NFTs work and are they stackable?
The MAGE Relic NFTs require MAGE tokens to be sacrificed or burned in order to mint the NFT. There are 3 different MAGE Relics and MAGE Ranks: Master, Oracle, and Archmage. Each relic has its own benefits and they are also upgradable to the highest tier, Archmage. Simply by holding the NFT in your wallet, you are eligible for the monthly yield airdrops, DAO permissions, and more. MAGE Relics are stackable, meaning that one wallet may hold as many relics as desired and receive all of the complementary benefits.
How does the Monthly Yield Airdrops program work?
This program relies on the participation and contributions made into different play-to-earn models, ecosystems, and platforms. The yield generated as a result will be shared back with the MAGE Relic NFT owners by first purchasing MAGE tokens from the public markets. Eighty percent (80%) of this yield will be split among the 3 MAGE Ranks (Master, Oracle, Archmage), ten percent (10%) will be added to the treasury for scaling, and the final ten percent (10%) will be permanently burned. Simply owning a single MAGE Relic qualifies you for this program.
Does MetaBrands support multiple chains or only Ethereum?
MetaBrands will initially launch on Ethereum, though immediate plans afterwards are to utilize bridges for other popular and suitable blockchains. MetaBrands is adaptable and does not limit itself to one particular blockchain, as the metaverse expands way beyond just one blockchain, platform, or game.
Who all will be able to participate in the DAO?
Anyone that owns a single MAGE token or any of the 3 MAGE Relic NFTs will be able to participate in the DAO. More information on the permissions and perks can be found in the official White Paper.
What are the backgrounds of the current DAO Advisors?
DAO Advisors specialize in the fields of web3 and blockchain core development, decentralization and governance, finance, branding and design, marketing and content creation, gaming and eSports, community growth, and positive social influence. Collectively, the MetaBrands DAO has over 30+ years of experience in the realm blockchain and cryptocurrency, providing a well-rounded knowledge and understanding to navigate the dynamic landscape.
How does MetaBrands differ from competitors?
One of our favorite aspects of MetaBrands is really the meaning behind the name. MetaBrands, contributing and supporting brands (ecosystems, projects, games) that we feel are meta. This is one unique aspect about MetaBrands is that it actually thrives off creating symbiotic relationships with other projects. No other project, to our awareness at this moment in time, is doing exactly the same as MetaBrands. There may be bits and pieces that are similar with other projects, but MetaBrands is a culmination of many different unique pieces that create a true Gateway to the Metaverse.
How will MetaBrands contribute to the metaverse space?
MetaBrands seeks to contribute to the Metaverse through elevating other brands, projects, and games first. One distinct method that MetaBrands looks to expand upon is interoperability and limitless use cases through the MAGE Relic NFTs. These NFTs can be seen similarly as a “multi-pass” to the metaverse, where they provide different benefits in different ecosystems, platforms, and games based off of the relationships cultivated. Afterwards, by establishing itself as a contributing entity and a passionate community, MetaBrands aspires to launch its own play-to-earn ecosystem. This play-to-earn ecosystem will be its own realm of the metaverse that seeks to tie into other ecosystems, bridging worlds and communities — voyaging through the metaverse, one portal at a time.
How will MetaBrands expand and make the project visible around the metaverse?
MetaBrands has created a series of strategies, both short-term and long-term, that will leverage the talented network of gamers, developers, artists, advisors, DeFi participants, and marketers within the community to provide access to assets, skills, and essential resources needed to bring specular ideas or projects to life. MetaBrands will focus on creating the Gateway to the Metaverse, by contributing and supporting existing projects and brands in the metaverse and sharing those benefits with MAGE token holders and MAGE Relic owners.
For people looking to participate in your IDO, can you share where it is being launched?
At the moment, we have our 2 launchpad partners confirmed and are finalizing on the last one. Our IDO with @Oxbull_tech will take place on December 6th and our IDO with @duckdaolobby will take place on December 8th. Please follow @MetaBrandsAnn and official MetaBrands social channels for the latest information and to find out about our 3rd partner.
What do you think about DEXTools and the future of DeFi?
DEXTools has developed a phenomenal product that many people are utilizing on a daily basis to help them trade smarter and more efficiently. DEXTools has an incredible product, community, and long-term vision to make the navigation of DeFI much more simple. This is the future of DeFi — decentralized finance needs to be made simple and easily digestible, so that everyone around the world can easily utilize their tools to improve their quality of life. The future of DeFi belongs in the hands of the people, that simple. DEXTools helps to make this a reality and we commend the DEXT team and community for building such a great ecosystem
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