LBank AMA Recap with $SG
On 26 October , we held an AMA with the $SG token project team, in LBank official telegram channel. If you guys had missed this session, here’s another chance to get a full transcript of the AMA event.
SEGMENT 1 GUEST INTRODUCTION AND PROJECT REPRESENTATION
GUEST : Of course! I actually did already, but I’m Barry, the Community Manager for SocialGood. Nice to meet you all!
Earn back up to 100% of what you spend at our partnered sites like eBay and AliExpress! The rewards are earned in SG, and we call this web3 cashback business model “Crypto Back”.
If you’re interested already, why not download the SocialGood App here? ($100 Sign-Up Bonus!): https://socialgood.inc/app-dl/Lbank/
Download the app now and stay until the end of the AMA for something exciting!!
Now, let me talk about the SocialGood project:
The project was started with the goal of reducing economic inequality by making asset-owning accessible to all people worldwide, as you can gain SG just by shopping as usual.
As you might have realized, that’s why the token is called SocialGood — we’re aiming to improve the lives of people globally with the SocialGood Ecosystem.
We’re proud of what we’ve accomplished so far, including raising $14.2 million in VC equity funding and gaining official support from the Tokyo Metropolitan Government and the Japanese national government organization JETRO.
QUESTIONS / ANSWERS
Almost of investtors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Guest Answer : Well, long-term involvement in the SocialGood Ecosystem is a huge emphasis of our project.
SG holders can earn up to 15% APY staking bonuses on their SG held in the SocialGood App or in a connected wallet. The rewards are sent every 6 hours.
Also, SG will be usable in the future to purchase upgrades and exclusive content in the SocialGood App, and we aim to have SG accepted as payment at our partnered sites, so there are many benefits to holding SG for those future purposes as well.
There will only ever be 210,000,000 SG coins issued. That means that as demand rises, the value can be expected to rise accordingly, due to the limited supply.
We have also calculated the theoretical value to be 1 SG = $106 based on market data.
You can read more about that here: https://socialgood.inc/sg-price-analysis/
All project coins have their main Utilities & real-life usecase! So, Can you tell us what are the main role of your coin in your ecosystem? Explain it’s Utilities & Real-Life usecases? and Why should i invest in your coin for long term?
Guest Answer : Well, the SG token has 3 main utilities.
1️⃣ SG as an Asset — SG has reached a market cap of over $1.4 billion.
2️⃣ SG as a Payment Method — We aim to have SG be accepted as a form of payment at our 1,800+ partnered sites.
3️⃣ SG as a Reward — Like miles or loyalty points in crypto form, SG brings shoppers and stores together, helping to add vitality to the economy
Another reason to invest is our strong team.
Our leadership includes our founder and CEO, Soichiro Takaoka, who is a serial entrepreneur with decades of experience in the fintech field.
He has published multiple books about finance, having previously started a fintech company which rose to become #1 in Japan under his leadership, gaining over $1B total in investment advisory contracts.
We also have a highly-skilled team with prior work experience that includes Amazon Japan, Mercari, Rakuten, and IBM.
Our backgrounds are different, but all of us have joined the SocialGood team with a shared passion to achieve our vision and mission.
Guest Answer : One of the main ways that our user base has been growing exponentially is through our huge giveaway and rewards campaigns for shoppers.
Speaking of which…!
⭐️Only until Oct. 31: Earn 100% back in crypto cashback every time at over 100 sites, including eBay, AliExpress, Lazada, Shopee, Flipkart, Walmart, Macy’s, and so many more!
Check out the details here: https://socialgood.inc/100-back-0922/
That means that if you buy a $1,000 TV from eBay, you will get $1,000 worth of crypto rewards!
Here’s the link to download & start gaining big with Shop-to-Earn now: https://socialgood.inc/app-dl/Lbank/
Another way that we are growing our user base is through word-of-mouth and referrals. Many of our users refer their friends and family to the app after realizing how beneficial it can be.
Plus, referrals will get you a special bonus, which is currently set at $100 per new user!
As for growing the project, we have the following plan:
(NOW) You can earn SG as a reward when you shop online
(FUTURE) You will earn SG as a reward when you shop at physical stores
We will continue expanding this service globally to even more regions.
55% of the 5 billion mobile users worldwide aim to earn cashback or rewards when shopping online. Right now, 2% of them hold crypto. That means we have a market of 55 million people for our patented Crypto Back rewards.
With the crypto population growing, it is predicted that in the coming years 20% will hold crypto, so we have a potential market of 550 million people.
That is our goal — 550 million SocialGood users.
Partnerships is one of important factors for every project. Could you name some of your partners? What are the benefits that you get from them? And is there any partnership that will be established in near future?
Guest Answer : We highly value our partnerships with over 1,800 sites, including shopping platforms like eBay and AliExpress, travel sites like Booking.com and Expedia, and world-famous brands like Microsoft, Disney, and Nike.
Our partnerships also include top localized shopping sites like Lazada, Shopee, Flipkart, and Walmart.
The benefits of these partnerships are a Win-Win-Win:
By earning rewards, the average consumer can shop at a lower cost.
Partnered sites gain more business as customers shop with the SocialGood App and are attracted by the rewards and advertisements.
The SocialGood project earns revenue from the partnered sites for advertising and affiliate fees.
We plan to keep adding more and more sites to our app!
Revenue is an important factor in the survival and maintenance of all projects. So, how does your project plan generate profits and revenue? According to the roadmap, what is your next priority? Do you have sufficient funds and a strong community to achieve your goals?
Guest Answer : We are based on a solid foundation of an actual business model, and we gain revenue from the partnered sites for advertising and affiliate fees. We also have funding from the $14.2 million VC equity financing for our project.
As for our future plans, we plan to implement token-gating to the SocialGood App to give exclusive full access to SG holders.
Check out this article for more details about the upcoming updates: https://socialgood.inc/coming-soon/
Social good app download screenshot selection
Following are the winners of this event :
1. MD SHOAIB HASSAN [ সাধারণ মানুষ ] — @Shoaib_Hassan11
2. Du chun cha — @Jerrybantaut
3. MD Rejayol — @Ben_Halstea
4. Ken Gonzales — @gnzlskenn1
5. James Addison