BeInCrypto held an AMA session with TRIBE on our Telegram channel on October 29, 2021. TRIBE is the first-of-its-kind launchpad for Non-Fungible Tokens (NFTs) validated by celebrities on the Binance Smart Chain (BSC).
(This AMA has been edited for clarity.)
BeInCrypto (BIC): Hello everyone! Welcome to another session of BeInCrypto AMA!
Today we have Federico A. De Rosa, Fabrizio Marangelli and Leonel Salvo from the TRIBE Spanish Team. Welcome Federico, we are pleased to have you in the group, you could start by making a presentation of you, who you are, and what you do, to begin.
Federico (FED): Thank you very much for inviting us. A giant hello to the Hispanic community.
I would like to tell the participants of this AMA who we are since, personally, I consider that one of the factors when analyzing a possible investment is “Who is behind this and what did they do?”
My name is Federico and I am from Argentina. I am accompanied by my partners and friends, Fabrizio and Leonel. What can I tell you about myself? Perhaps starting with “Who am I professionally” would be the most appropriate.
FED: My first and only job in a dependency relationship “in the physical world” was at 18 years old in a clinic in the administrative and accounting part. Fortunately, I realized that my “mission” was to create value, I did not feel comfortable “selling” my time to a third party.
Since then I started studying finance and law and I have been dedicated to traditional investments for many years and in 2017 I met, and emigrated, to the world of cryptocurrencies.
Among other past roles within this world, three stand out: Having been one of the first Community managers and founder of the Spanish-speaking community of PancakeSwap back in mid-2020. Since the beginning of 2021, I fulfilled the same function, but with MemePad, and today I present myself in front of you as Founder and Business Developer of @TribeEN
Fabrizio (FAB): Hello everyone! A pleasure to be here sharing with you.
My name is Fabrizio, also Argentine and I have been investing in the cryptocurrency world for a long time. Really my strength and experience is in marketing and interpersonal relationships. This is what I dedicated myself to for years, with Federico in parallel, but in separate ways, we were undertaking the same type of project, which we considered that the best we could do was to unite and instead of being competitors, to be partners.
BIC: Perfect. Let’s start with the basics, what is TRIBE?
FED: TRIBE (Differentiating the company “TRIBE” from the token “TRIBEX”) is a launchpad of exclusive NFTs and celebrities. Something that perhaps not many associated with is that when we say “celebrities” we are not just limited to people. We also refer to brands, companies, sports teams, collections that add value to the community, and much more.
BIC: What motivated you to give it that name?
FED: Basically when we started with the concept of TRIBE (at that time it was not even called TRIBE but it was a simple idea). We realized that what motivated us to do something was the concept of unity, of community. When we defined calling it “TRIBE” it was referring to its translation (from English) “Tribu”. We all know the values of a tribe that they were “set in stone” that is, immutable. The union was created amongst communities. And the feedback we received was that it benefited most people.
BIC: Great, what is the TRIBE token, and what protocol is it under?
FED: I take the question to answer “What is the TRIBE token?” briefly; The $TRIBEX token is the engine of our ecosystem within TRIBE. It is in charge that everything works correctly, agile and, above all, in a fair and decentralized way among all users. This is translated and put into practice through the interaction of smart “stake” contracts and a system of levels by “allocation” with a manual “whitelist” approval in each of the collection launches.
$TRIBEX is a BEP20 protocol token, that is, from the Binance Smart Chain.
I extend the question a bit by explaining why we chose this network if the vast majority of NFT projects are on the ETH network:
The reason for this is very simple and is divided into two parts: The technical part is that we all know that BSC is a “fork” of the optimized BSC, although it does not have all the layers of ETH if it has the basics to become faster and cheaper. From the commercial and branding part, it is very simple, we chose the Binance Smart Chain because from now on, we can be called the first Launchpad of Celebrity NFTs of the Binance Smart Chain. We bring a model that already exists and works on Ethereum, and we gave it our modifications and improvements and presented it to the BSC.
BIC: Very interesting. I also saw that they call themselves celebrity NFTs. Could you say that TRIBE is “the Ethernity of Binance”?
FAB: Inevitably the comparison arises. It is a bit what we talked about until recently, both models (Ethernity and Tribe) are similar, both are dedicated to Celebrity NFTs, but we go a little further than just marketing the NFTs; these NFTs will be put to use.
Anyway, we could be called the Ethernity of BSC. But we like to call ourselves the first BSC Celebrity NFTs Launchpad or, better yet, the first BSC Celebrity NFTs project.
Although, we are not going to complain if at this very early stage they already compare us with a project with a market capitalization of 350 million dollars hehe.
BIC: Here you could expand a little more, regarding the usefulness, I think that is a question that many ask when dealing with NTFs
FAB: Well to be able to talk about utility, the first thing we have to talk about is “TribePop”. As for “TribePop” I can’t say much as it will be our big surprise, what I can say is that it will be a gamechanger in the way that it connects NFTs and celebrities.
Needless to say that just seeing them you will want to have one, first, they will be only celebrities, in the future we plan to add an option in which each one can create their own “TribePop” and mint it as NFT and then use it within our game (That is something that comes in the future of TRIBE).
I can also tell you that we are in talks with brands to include them in the accessories of the “TribePop”, which would make the relevance of TRIBE rise significantly, and that the “TribePop” have accessories of real life would be something amazing.
It is a matter of little time for us to show our big hit with “TribePop”. Gamification and metaverse will be everything.
BIC: Good. On their website, on one of the cards, they mention “Scheduled Burns”. Could you tell us a little more about this item?
FED: Of course and I appreciate you mentioning it. The concept of “Scheduled Burns” is a way of saying that we have a manual deflationary system. Yes, $TRIBEX is a deflationary token.
The way this is done is very simple. In each release of NFTs, a percentage is for the personality of the NFT (Celebrity, brand, sports team, among others) and another retail percentage is for TRIBE. In addition to using this percentage to finance the company’s shares, a part of the amount that corresponds to TRIBE will be used to buy tokens on the market and burn them.
BIC: Great! they are at the forefront even they are thinking of everything even immersed in the metaverse.
FED: Let’s go all or nothing haha - Thank you very much!
BIC: What difference do we have between TRIBE vs FEI?
FED: I begin to answer by reformulating the question: “How similar is FEI and TRIBE?” The answer to this is “Nothing.” TRIBE and FEI are completely different projects and they have no relationship with each other, except for the fact that we are both at BSC. I understand that the question arises for the FEI $TRIBE, right? FEI’s TRIBE is a governance token, only.
Unfortunately, they just had to choose that name, we felt very sorry when we saw that they were just for that name since we have had our brand image ready for many months. Actually initially the company was going to be called “TRIBE” and the token was going to be “$TRIBE” as well, but logically we were forced to modify this with an etymological meaning of the letter “X” turning the token into “$TRIBEX”.
BIC: Thank you, it is important to know so that you do not get confused.
FED: In conclusion, the only similarity we have between the projects is that their governance token is called “TRIBE” and our token is “TRIBEX”. Beyond that, there is no other similarity. We hope to be able to coexist within the same blockchain.
BIC: There is one thing that caught my attention on your pitchdeck (That for those who have not read it, you can find it here. I see that it says that angel investors, private investors, and public investors all access the same price? How is that?
FED: Indeed, a very good question!
It is an item that really fills us with pride to have been able to carry it out. As everyone knows, normally a project launch consists of private investors (Angels, VC, among others) and public investors. It is common practice for private investors to be priced more profitably than public investment.
At TRIBE we are so confident in the value of our project that we were able to afford to turn down a lot of money when the capital was not aligned with our visions and conditions. One of the exclusive conditions for all investors (both angels and private) was that everyone (including IDO investors) will access the same price. No one can have privilege over others. This is an item that really fills us with pride since TRIBE’s conception is made from the community side and designed for the benefit of the community.
BIC: Fascinating! And regarding tokenomics: Their issuance is very low (only $50,000,000 TRIBEX), therefore we would be talking about an initial MC of $500,000 at the market launch, this is good, but additionally, do you have a vesting plan or locked balances?
FED: Indeed we are talking about an initial MC of $500,000 if we consider the entire issue, that is, the market totally diluted, this is not our case.
Our initial working capital is $2,600,000 TRIBEX which makes it a real initial MC of $26,000 only (Excluding liquidity). One of the lowest market launches that the entire crypto ecosystem is going to find. This brings me to the second part of your question, yes, the rest of the tokens, that is, $44,800,000 TRIBEX (89.60% of supply) is blocked and/or veined. Take this opportunity to send you some excerpts from our pitch that focus on tokenomics.
BIC: Where could I get the $TRIBEX tokens and if we could have access to the whitepaper as well?
FED: He sent him the paper first so that they can read it as I write.
At the moment, TRIBE has not been released. We already completed our round of Angels for $20,000 a few months ago and 5 weeks ago we completed our round of private investors for $80,000. Both at the price of $0.01 per token. What if we invite you to join the IDO that we will carry out in @MemePadOfficial in the first half of November 2021.
When choosing launchpad we had several options, including initially I was inclined to reactivate contact with the people of PancakeSwap since I was the founder of the Spanish-speaking community. But we have defined by @MemePadOfficial for two reasons: The first is that we know how well it works and we wanted a very controlled and low-cap market launch, and the second, and not less, is the exposure, since in just prior to We, MemePad is going to carry out the IDO of the website (Memes.com), which has a community of more than 500,000,000 users, so this launch will draw many eyes on MemePad in a few weeks.
BIC: In conclusion and to open up questions from the public, what can we expect from $TRIBEX in its first month of life? What are they going to surprise us with?
FED: The market launch will be with the same vision that we are doing everything; organic growth and evolution. We want the people who come to TRIBE to stay and trust the project, what we least look for is a “Pump & Dump” by the community. Therefore, in the first month of TRIBE’s life, we will receive them with two staking pool proposals (50% and 100% annual reward).
The difference between these two pools will mainly be that the 100% annual pool will have a 90-day blocking of the balances from the moment the contract is interacted with. As a thank you to those who opt for this reward pool option, they will receive double the reward than the other stake pool and additionally double the allocation for the launch of NFTs that occur while in the pool.
That is, if you have a balance relevant to an allocation of the highest level (CryptoKing) we will double it and we will give you the allocation of two CryptoKings. On the other hand, surely Fabrizio can tell you one more thing as long as he doesn’t make any spoilers haha
BIC: We like spoilers here !! He he
FAB: Hahah, The truth is that I already made many spoilers, we know the potential we have and the strength that we are going to grasp when “TribePop” comes out. Much more when the first “TribePop” of world-renowned celebrities come out. The first to leave after our 3 characters will be a celebrity with more than 3 million followers on Instagram
BIC: If Jennifer Aniston comes out, I’m sure I’ll be a whale
FAB: In that case that I see as possible, all of us who trust $TRIBEX early on will be happy whales.
BIC: interesting for future investors to take it into account, That’s all, thank you very much, I am quite sure that today we have covered important topics, let us see that this Token has its own approach and style, for diversification in the world of cryptocurrencies. Could you share your social media links so our community can get to know Tribe a little better?
BIC: Now that the initial 10 questions are over, we will open the chat so you can ask your questions
Question 1: I have a question, I am just beginning to know the world of NFTs, but being brands and celebrities, do you have permission from them? How do you work that part? Well, I heard about an NFT that was sold and the brand claimed for intellectual property, do we run that risk as buyers?
FED: Very good question to open the public section of the AMA! I will try super brief to be clear. This is our BIG differential with any of the proposals on the market; the validation by celebrities and brands. All our NFTs (whether unique or collections) will be validated by the brands, companies, celebrities, or personalities that we are dealing with and we will have formal agreements written and notarized in notaries (or “notaries” depending on which country they read us) for each of the releases where the use of the image is specified as well as any other corresponding clause.
Question 2: Do you have any plans to burn tokens in the future to reduce the supply of the token and increase its investment attractiveness?
FAB: Yes, precisely by having only 50,000,000 tokens, we also seek to reduce the amount over time. A great strength of TRIBE is that every time we launch collections of celebrity NFTs a percentage of that sale will be used to buy back and burn $TRIBEX, therefore we are confident in an increase in price and decrease in supply in the long term. The true holders will be the ones who get the best reward at TRIBE.
Question 3: NFT games are trending. Do you have plans to develop any NFT games?
FED: Yes, our first step is the domination of celebrity NFTs (We already explained that it is not only people but also any legal entity with traction) in the BSC (and why not in the other blockchains as well?). Our next step is “gamification” and introducing TRIBE to the metaverse. That’s what Fabrizio’s spoiler about “TribePOP” that I mentioned a little while ago is about.
Question 4: We saw that they have 3 levels for token holders, what will be the benefits that CryptoKings will have over the others? I mean, why should it be a cryptoking and not a gladiator? Since the economic difference is important
FAB: Excellent question! In addition to the fact that the CryptoKing will be the most beautiful and impressive of all the TribePop, being a CryptoKing will allow you to access the highest level of NFT available and not only that but also have a guaranteed allocation for the purchase.
Question 5: What benefits does the community have by holding your token and how do you plan to encourage them to hold it for the long term without selling it?
FED: Great question! In the first place, the differential of the project; That is, how many celebrity NFT projects do you know? And of validated celebrity NFTs? And that on top of all this add gamification and metaverse? None.
On the other hand, what I mentioned above about the staking pools: One of the two pools will pay a 100% annual reward and will give double the allocation when participating in the launches but, in exchange, the balances will be blocked 90 days. This will reduce the selling pressure substantially.
BIC: Thank you very much for your time, disposition, and attention, very attentive kind and you know guys, subscribe, in financial diversification there is progress… the session #AMA is over. Token offers them.
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