LBank AMA Recap with ANCT
On 20 May we held an AMA with the ANCT team, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
ANC HOLDINGS ahn minchul:
Yes of course. hello. Everyone, I am Daniel Ahn.
ANCT is a blockchain project for K-WAVE fans.
Can you tell me more about ANC tokens?
ANC Token is a blockchain project for K-WAVE fans. On our platform, users will be able to interact better with other fans of their favorite K-WAVE artists, express their fan sentiment together, and further engage in economic activities.
K-WAVE has been limited to Southeast Asia such as China, Japan, and Thailand for a long time, but it has been distributed through OTT service platforms such as YouTube and Netflix, allowing it to expand to the global market. K-POP fandom is spreading all over the globe, led by BTS, BLACKPINK and many others. In particular, last year, “Squid Game” topped Netflix for 46 consecutive days, creating a strange phenomenon of imitating the game in the drama.
It is clear that the number of K-wave fans around the world is estimated to be more than 100 million, and that it forms a global fandom market based on its thick fandom.
We envisioned a differentiated fandom platform in this market and launched the ANC Token project to provide platform services for to K-WAVE fans from monetizing their passion for celebrities to interacting with other fans from everywhere in FandomVerse. And the core of the platform is the ANC token & ANC NFTs.
So, what are the specific services provided by the platform?
We thought about what K-WAVE fans wanted and what services could satisfy their needs.
Currently, fans try to connect, support, and interact with artists through various means, such as using various media, advertising, and donating to convey their fanship to their favorite artists.
For example, fandom advertising is now a means of publicly supporting your favorite artist, such as renting a New York Times Square screen to celebrate the artist’s birthday, or renting an exterior wall of a landmark building in a famous city.
However, there is also a downside to the growing fan clubs. Although the fan club is organized and huge, it is operated autonomously by fans, so we have no choice but to leave accounting for fundraising activities to the conscience of the management. This can cause fraud damage, and there is also a disadvantage that fans are getting tired of the tyranny and advertising marketing of big agencies and their pure passion for their favorite artists cannot be conveyed.
To solve these problems, we want to provide a virtual metaverse platform to create a high-quality fandom culture by creating a safe and transparent space for fans.
The characteristic of the ANCT platform’s service is that it provides a virtual playground, or FandomVerse, so that each person can form their own room with their favorite artist and build their own space to differentiate themselves from others. Anyone can easily build it, and the same fans can share differentiated rooms with each other and grow their fandom even more. And fans can conduct public advertisements and donations for their favorite artists through ANCT DAO governance.
Fans can freely support the artist in the fandomverse and create virtual concerts and meetings with fans around the world. FandomVerse allows Fans’ to engage worldwide, show their love and support not limited to just offline sites. NFT will be used in various ways within FandomVerse, from Fan Club house, Virtual billboard, Virtual concert, Fan Estate and more.
We aim to provide the MetaVerse in which within actual crypto economy functions, to do so we are implementing and continuously expanding ways for Fans to monetize, contribute, and actively support.
As Mentioned before, NFTs are utilized in several ways within ANCT’s Metaverse.
We are also working to create a new fandom culture that allows fans to trade their own fan art with each other through the ANCT NFT Marketplace, and can create and operate productive content, away from simply recognizing fans as consumers.
Therefore, the ANCT platform tries to create a new paradigm of fandom culture by providing K-WAVE fans with more freedom, stability, and differentiated services, and by providing themselves with space to create content for artists.
We are working both online and offline to build a fandomverse. With our technical partner NLCVR company, we are working on the FandomVerse and NFTs collections. NLCVR is one of the leading company with the technology to create VR space and building VR virtual contents in Korea. We appreciate the technology of NLCVR and will work with the core development and operation of the ANCT platform.
Second, we are building a fandomVerse promotion facility for K-WAVE in the studio of K-drama and movie shooting location located in Paju, Korea. The facility supports fans of the created fandomverse and actually auction and sell the created contents through YouTube. Proceeds sold will be ditributed to NFT owners and the ANC will be used as a space for producing a variety of influencers.
It’s also difficult to say because there are a few more services being planned, but they’re internal. What is clear, however, is that the new service will fully consider whether it can help K-WAVE fans, and whether it will help the ANC token ecosystem before developing a service development plan. I will add it to the white paper when a specific development plan comes out.
What is the current stage of platform development? What is the expected launch date?
ANC fandomverse being developed are ANC wallets, fandomverse platforms, NFT Collections and NFT marketplaces. ANC Wallet Service supports the ecosystem in the fandomverse and is being implemented for use throughout whole ANCT ecosystem. Fandomverse is being developed as an APP method that is easily accessible to users on all operating systems, including PC, Android, and IOS. NFT Marketplace supports NFT mining, trading, dutch auction, and sales services in the fandomverse. Based on the development schedule, NFT collections will be launched within Q2 of 2022. Through community engagement roadmap, we will be expanding and building ANCT NFT community to get ready for 2022 Q4 for Beta Launch of the FandomVerse.
In a word, what platform does ANC want to build?
I’d like to say that it’s a cultural space where fans around the world can become Active N Creative. It may be an abstract expression, but I want to embody the ANC token ecosystem as an idea “for fandom, by fandom, about fandom.” The fandom market is currently undervalued, but I believe that it is infinite due to the emergence of numerous services that reward our opinions, participation and enthusiasm
What is the plan for ANCT?
With our background in development and business in entertainment, we are doing what we are passionate about. we are collaborating with non-crypto partners, entertainment companies, MCN, fan clubs, k-pop artists. We plan to establish partner ecosystem before the launch in Q2 to offer fully operational service with NFT market & Crowdfunding, not just a crypto wallet app.
We know that marketing is important to bring users to the project. What is the percentage that you are using for marketing and what are the strategies that you are using in social networks, to attract players to the project?
That’s a good question. ANCT is in talks with several media outlets to use for marketing. First, we plan to secure many fans by using YouTuber influencers, and secondly, we will expose ANCT’s future events to various media to create a good response from fans. Third, we plan to promote ANCT through communication with K-fan clubs around the world.
@ANC_HOLDINGS Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?
Your question is the core challenge of ANCT. Thanks for the nice question. Our consumer target is, of course, K-fans. However, how we should control and move forward with the demands of too diverse fan clubs and how we should handle their feedback are the issues that ANCT should ponder and solve the most in the future.
But ANCT doesn’t go looking at the forest too big. We will try to make a big forest, starting with a small tree.
Will you have an NFT marketplace where we can buy and trade NFTs earned in Game . Will there be other NFT marketplaces where we can trade NFTs? Are you going to offer an NFT rental feature for starters?
1. We are currently developing the ANCT NFT market. It is scheduled to open in Q4, 2022.
2.NFT will be developed with polygons, so it is compatible with other NFT markets.
3. We will hold NFT events in the future. LBANK is going to be the first event.
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?
It is true that there are many scamcoins in the current blockchain market. However, ANCT will move forward as a company that actually operates and has a vision, not a company to show off.
I think there will be many difficulties in the future. However, we are going to make each one small, and we will share everything with you.
Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
ANCT’s partners are collaborating with various entertainments. And they’re actually running companies, and they’re making several artists. Our ANCT will secure more fan clubs and become the only fandom bus in the world.