AMA with OCTA | Transcript
Q: Please, tell me about the Octa Market. As far as I understand, it will be a store where you can buy licensed goods. Is it true, or will there be something else? Could you tell me how the store and delivery will work?
A: Our market will be much like Amazon. We will encourage artists and premium goods resellers to participate and create their own markets for their goods. We have multiple different lines available on the NFT side that will allow different artists to gain various statuses, alongside those products being made available directly from the globally known licensors. The NFT market is a collaboration between regular people, artists, and big-name labels that will all be selling within the same space. As for the physical product side, we already have millions of dollars of orders in for physical products that will be initially available on the Octamarket. We will open up that market to new vendors through scheduled approval system onboarding. A vendor can apply, be approved, and send, much like Amazon, but with a twist toward gaming labels. We also can extend labels rights to new artists that will fall under the big-name labels. Right now, we are setting up distribution and are working on different avenues for delivery. Delivery will be much like most online order deliveries, with a discount for Octa holders.
Q: Octaverse will include an online digital ecosystem consisting of an Octamarket where users can purchase licensed merchandise (Disney, StarWars, Marvel, DC Comics) and other things. Have you already contacted any of these companies? There are a lot of legal issues in this field. Are you sure that you will be able to make it real?
A: Absolutely. Because of our strategic partners and those backing us, alongside those already established within our short tenure, the experience that is brought to our marketplace extends beyond Octa’s short birth a few months ago. We are not coming to the table as a newbie with no relations. Relations are key to what we are establishing and have established over the 25 years of experience that CapitalGames and InfoTech Capital and its partners have matured through their time knowing each other. Now, these labels are available and being utilized as we move forward within the industry. This is something we know cannot go unsaid because the core is deep here at Octa, and the relations are even deeper.
Q: You are planning to have your own NFT Marketplace with three different lines of NFTs available for purchase and trade. There are a lot of NFT marketplaces nowadays, and how is that different? What do you plan to offer users so that they choose you among all these platforms?
A: I think long-term value holding will be the reason that they will be here, alongside the fact that through the introduction of new vendors and artists, the market will have a greater focus on consistently new and revolving product lines by multiple parties that have interest in selling. Besides, being able to have a big mark licensed NFT versus a regular NFT means that value remains and is genuine. This will be a premium collectors/collectibles market with higher quality.
Q: What are some of the challenges OCTA is currently facing? How are you going to solve them?
A: I think one of the biggest challenges that we have right now is getting the word out about Octa to larger groups of individuals. We have been consistently investing and reinvesting into the product development side of the project to ensure that we are delivering what investors expect while at the same time growing awareness for our project. This means, as marketing grows its footprint, this side will be taking care of itself. We expect that, as these artists and vendors roll onto the platform, it will see big multiple increases in price and audience size that will be commensurate to the value that the holders and new customers are getting out of the market. Artists are all welcome to apply to the project and go through a review process here with us to be added to the market and start creating!
Q: I see you put some emphasis on gamers. How do you want to attract them to your project, and what problems do you want to solve in the gamers community?
A: Now, one of the biggest opportunities in gaming lay in our field and within our project. We, gamers, spend a large amount of time within gaming platforms, talking with each other and looking for new ways to express ourselves both inside and outside games. For years, the collectibles market has favored sports teams. However, we see that the same market is growing within our gaming spaces. One of the main problems we want to solve is related to the fact that gaming distribution and accessories lie within disparate systems and sporadic websites across the Internet. We want to centralize it and make it easy for people to purchase. We are also growing the opportunity of in-game tokenization, meaning that we, gamers, can receive tokens as rewards to utilize within a global ecosystem to purchase products. This leads to the third-party-managed rewards space that gamers are looking for. Gaming companies should be focusing on creating great gaming experiences where the Octaverse is the one-stop-shop to buy and sell all gaming goods globally.
Q: “Octans mission is to provide a space for gamers to acquire, express, and live their gaming identity… Collaboration with artists is evolving the way that people think about traditional gaming spaces – converting those spaces into a showcase to better represent gaming culture and the true lifestyle behind games”. Those words sound great, but what exactly are you planning to do? Why do you think artists (and gamers) will be interested in collaborations with crypto projects? What are the benefits for them?
A: One of the biggest problems across the globe lies within the payments space. Also, in the gaming space, a way should be found to uniquely and consistently reward groups across the globe that have financial utilization within a market in which they want to use those rewards. We see Octa as a streamlined way to create an easy-to-use payment mechanism to pay for all goods, erasing the traditional monetary barriers that using conventional money brings. You use Octa across all vendors globally for purchasing, which means you do not have to manage multiple fiat types, just one to purchase anything across the globe. That is a big feature of what we are looking to accomplish. What is in your wallet dictates a large portion as to what you choose to buy. Having every vendor within the space aggregated and accepting Octans is what we aim for.
Q: Over the next year, OCTA will be acquiring several new strategic partnerships that will enable the brand to go further, bringing rewards, gaming peripherals, experiences, VIP access to new content, physical and digital items, events, and a 3D world in which gaming expression can find its home. What will your ecosystem eventually consist of? Do not you think that when you have so many ideas for your project, according to your whitepaper, you will not be able to implement any of them well?
A: What we are providing is the fabric and the rails all gaming commerce can utilize. The power is in our partners and will continue to be with them. As new partners and vendors onboard, they bring their own markets and audiences to the platform. So, in the end, we are creating something others can use to manage their vendor profiles, list their goods, mint their NFTs, and so on while bringing and collaborating to form a defined monetary utilization across space. We are already doing well on that front. I see us continuing to produce and deliver into the future in a strong way.
Q: What is Octa’s final vision? How do you imagine the project in a few years?
A: We have a progressive vision. Firstly, it relates to innovating and delivering the framework upon which others can communicate. Secondly, it involves bringing both parties, big and small, together. As you look forward into the labor market, you see that each individual forms a part of the whole. There are many undiscovered talents that, given the opportunity, can grow and provide value beyond what is currently available. I am a believer in creating spaces that can be modified on the fly to reflect the real market demand; thus, being agile is very important to our organization. We are experimental, which, I am proud to say, forms the foundation of some of the biggest tech companies in the world. It is through innovation that we interpret and accommodate new demand cycles and different preferences while following and delivering new innovation across those demand centers. That is what we have in mind for the future. We will be growing our space and leading our gamers while being agile enough to follow the future trails and where they lead. This means a consistent delivery of value to our holders, vendors, and customers alike.