Recap: The APENFT <> Poloniex Twitter Panel

Hosted by Rachel Huo, Brand Marketing Manager at Poloniex

In case you haven’t already heard the great news, we’ve Poloniex is collaborating with APENFT Marketplace to help bring NFT and metaverse tech to the masses! And this week, we had the chance to get together with Sydney Xiong, Art Director at APENFT and our very own Director of Marketing, Eddie Jiang, to discuss the NFT space and what this partnership means for the NFT industry at large!

Thanks to the ~300 attendees that tuned in. And for those who didn’t get the chance, below you can listen to the full Twitter Spaces panel (skip to ~5:30 for the beginning) or read the script below as well:

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 — @poloniex

Q&A Script:

Host:

Rachel Huo, Brand Marketing Manager at Poloniex

Panelists:

APENFT- Sydney Xiong, Art Director of APENFT

Poloniex- Eddie Jiang, Director of Marketing at Poloniex

Host openings, and introduction of AMA guests.

Sydney：Greetings! I am Sydney Xiong, the director of APENFT Foundation. Ever since I entered the crypto industry, I have initiated tremendous programs such as the “Second Life” Art Dream Fund and APENFT GameFi Hackathon last year . Besides, we have also invested in many wonderful NFT &Gamefi projects and founded the APENFT Marketplace. And it is an honor to hold the Twitter Space today with so many adorable listeners.

Eddie: Hi Everyone, I’m Eddie, Head of Marketing of Poloniex. I’m excited to join this panel discussion with Sydney from APENFT. It’s a great chance for us to share our latest information to the community!

1) Please share with us the background of APENFT (NFT) and APENFT Marketplace. How does it actually work?

Sydney：Well, firstly as the world’s top-leading Crypto&Real Art Foundation, APENFT aims to facilitate the creator economy while catalyzing both financial and cultural inclusion in the metaverse.

APENFT Marketplace, as an important node for APENFT foundation to layout the NFT field, is a multichain metaverse Gamefi and NFT trading platform, built on BSC, TRON, and Ethereum layer-1 protocol with BTFS decentralized storage, and interoperable via BitTorrent Chain. Within a word, we are providing this thriving platform for important support of the NFT token.

And we have also released our official governance token called NFT last year. It is a decentralized digital asset backed by TRC-20 protocols and serves as proof of rights on APENFT. The holders can vote, share profits, and receive tremendous NFT airdrops. Nowadays, NFT is traded on over 27 crypto exchanges including OKX, Huobi, Kucoin, Bybit, Uniswap, Pancakeswap, and Sunswap.

2. Poloniex has formed into a strategic partnership with APENFT. How about your personal thoughts about NFT and why did two parties form this partnership? Are there any special reasons that you’d like to share with our audiences?

Eddie: Well, I think NFT has been quite a buzz word for a long time. In 2021, the NFT market achieved a preliminary breakthrough. It’s not only something limited to the crypto world but has become mainstream. It seems that everyone is talking about NFT. In the future, I believe the trend towards the metaverse is inevitable, and NFT is one of the infrastructures of the metaverse. It has a wide range of potential applications, and the need to prove ownership of digital assets will grow dramatically.

Lots of Poloniex’s users are also interested in NFTs and wish Poloniex could have a one-stop NFT marketplace, so it will be much easier for them to step into this exciting world. So to cater to our users’ needs and to make ourselves keep up with the market trends, we had this strategic partnership with APENFT and integrated their marketplace.

It’s also a great honour for us to partner with APENFT, as it’s a leading multichain metaverse, gamefi, and NFT trading platform built on TRON, Ethereum, and BNB chain. Though it’s a relatively new player in the industry, it has already made many achievements by providing secure, reliable, efficient and decentralized services to NFT art lovers across the globe.

In addition, APENFT really focuses on the NFT industry and has devoted many resources to support artists and good projects. We also share the same belief that art and NFT are for everyone.

I believe APENFT will be a game changer in the industry. This collaboration not only allows users to get access to and trade NFTs on Poloniex, but also will leverage our shared potential to increase the reach of NFTs and further develop the industry.

Sydney：As a pioneer in the crypto industry, Poloniex has a well-recognized brand and a solid accumulation of users. As a participant and challenger in the NFT track, APENFT hopes to connect with other traffic and resources outside itself. Spread our services to a wider and more vertical user base.

A few days ago, we just mentioned in a conference with Poloniex, that both sides agree to explore the metaverse and digital artworks together. On May 25th, we launched a special event for all global users, an exclusive magazine cover with the founder of TRON H.E Justin Sun, and published by the world-famous magazine “Vanity Fair” and Valuart, which definitely will attract tremendous attention and enthusiasm all over the crypto world

APENFT hopes that through future collaboration, we become more competitive on products and services that meet the needs of every single user.

3. What is your perspective on the prospect of NFT marketplaces? There are tons of new and old NFTs related marketplace (or trading platform) “fighting” for their market share in the current industry. How can APENFT outrun such competition? How about the APENFT role in this industry’s future growth?

Sydney：First of all, I believe that ever since the new economic model of NFT has become a trend in the crypto industry, with its own uniqueness, programmability, provable rarity, and other characteristics, NFT has proved its irreplaceable value in many fields.

Therefore, a series of NFT platforms such as OpenSea, SuperRare, Rarible, and Nifty Gateway has emerged in the crypto market. Among them, Opensea has ushered his new challengers such as Looksrare, X2Y2

As a matter of fact, we found that Opensea has built a high-priced NFT trading platform. With a large number of IP hype, extremely high gas fees, and a rigid royalty distribution cycle. So, the current market sentiment has pushed NFTs to allow only a small amount of development. The embarrassing situation of coexistence among a massive amount of users and very few valuable developers.

However, in the era of Web3.0, NFTs for sure will turn into a necessary tool for everyone to participate in the metaverse. The development demand of the times is that there should be an NFT creation and trading platform for ordinary users in the market. The original intention of our Marketplace is to become the Game Changer in the market and is committed to creating a decentralized and inclusive NFT platform. Our goal is that everyone can create NFT, and everyone can own their NFT.

Above all, based on the lower gas cost of the Tron chain, with the platform’s initial zero handling fee and flexible royalty distribution ratio and cycle, our Marketplace lowers the threshold for users and creators to enter the NFT market and is committed to building a more comprehensive, inclusive, and friendly community.

In the initial stage of the platform, to encourage the entry of high-quality projects and establish a dynamic Tron NFT ecosystem, APENFT Marketplace invested $2 million to establish the prize pool and start the Developer Sprint. Currently, dozens of NFT projects have been developed on the Tron chain, and the contract deployment work will be completed one after another.

We hope to continuously fill in high-quality assets and enrich the market ecology through official resources and financial support. Therefore, APENFT welcomes all the high-quality teams and creators from all over the world to land on our Marketplace!

Work together to create a comprehensive NFT\ trading market with sound categories and the best customer experience ever.

4. How Poloniex can empower NFT or provide more benefits to the holders as Poloniex users?

Eddie: Integrating the APENFT marketplace marks Poloniex’s debut into the NFT and metaverse realms. In addition to providing more services and options to our users, we also hope to work together with quality projects. We will support more INO events and provide more token listing support for outstanding NFT projects. In this way, we can together drive the mass adoption and the development of NFT.

What’s more, we will also provide more benefits to some certain NFT holders. For example, Poloniex is joining hands with APENFT Marketplace to give away NFTs worth $1.5 million in airdrops. Apart from the intrinsic value of those NFTs, their holders will enjoy additional benefits on Poloniex, such as trading fee discounts. Please check our twitter or website announcement for more details.

5. Compared with “traditional’’ centralized cryptocurrency exchange, what are the requirements for APENFT marketplace (or similar platforms) to provide an equal and comprehensive user experience? How about the security concerns?

Sydney：

1. Previously we mentioned the development needs in the era of Web3.0 and the Metaverse. I believe that the mechanism setting of APENFT Marketplace may better represent the development direction of inclusiveness and equality in the era of Web3.0.

Specifically, APENFT Marketplace attracts NFT projects with popular concepts in the market, making it convenient for users to participate ever since the start-up stage of the project. Moreover, we dont’ charge the platform fees at the initial stage of the launch, and providing flexible distribution of royalties to the developers, reduce the cost for users to enter the NFT market

As a result, more and more users can hold NFTs with popular concepts at extreme-low prices while enjoying potential high-yield returns. Therefore, to those crypto market users, APENFT opens up an opportunity to grow in tandem with the platform in the long term and earn profits.

In addition to opening up a new NFT market and lowering the entry barrier for all the users, APENFT Marketplace also issued the special Genesis NFT. The so-called “Genesis NFT “ is the exclusive identification badge of Tron users on our platform. The total amount of 10,000 pieces will be distributed to active users and important contributors to our TRON community for free. Each qualified person can only receive one piece.

Anyone with Genesis NFT has the opportunity to receive airdrop rewards for hundreds of different projects and receive the whitelist privilege, without time limits. Of course, after you get the NFT badge, you always have the right to sell it on APENFT MarketPlace, but you will no longer enjoy the corresponding rights once it has been sold.

We hope that in this way, our community members and APENFT Marketplace maintain a long-term mutually beneficial, and win-win partnership.

2. Regarding security, APENFT Marketplace is a multi-chain metaverse GameFi and NFT platform. It is built on the Tron, BSC, and Ethereum layer-1 protocols that use BTFS to achieve decentralized storage, and can be interconnected through BitTorrent Chain.

At the same time, we still want to remind our users during visit APENFT, to make sure that your wallet application or extension is TRON official. There are official social media and community portals on APENFT Marketplace. If you encounter any problems during the visit experience, please contact us through these channels, our colleagues will help you solve them as soon as possible.

6. Anything else that you’d like to share with Poloniex users?

Eddie: Oh yes of course. Blockchain is an industry that is developing rapidly with lots of breakthrough innovations. As a centralized exchange, Poloniex has always been committed to enabling the world to enjoy convenient financial services, and allow users to easily enter the crypto world with a low threshold.

To achieve this, Poloniex stays in step with trends and lists trendy tokens: we offer top GameFi, DAO and Web3 tokens for trading. Besides, to make DeFi and quality applications more accessible to our users, we cooperated with leading ecosystems such as Fantom and Polygon.

We will also keep a close watch on the industry, like DAO and Web3, and are always ready to support these trends.

As one of the top global exchanges, Poloniex also always strives to provide better products and services for our users. Integrate APENFT marketplace to our platform is just the first step for us toward becoming the industry leader.

I’m also excited to share with our community that our new trading system will soon be rolled out. It will improve our user experience to the next level with faster speed, greater liquidity and smoother experience. More new features are also on the way, such as market orders for retail traders and more powerful candlestick charts for professional traders. New margin trading and lending experience will also be available.

Just stay tuned with us. We will have more surprises for you.

7. What has APENFT marketplace accomplished to date?

Sydney：Since the launch of APENFT marketplace, it has collaborated with a number of high-quality IP & projects around the world, including the digital zodiac produced by Metapoly XM, an art metaverse brand under Poly Xiamen, the world-renowned lifestyle magazine “Vanity Fair” series NFTs, etc.

Among them, the “MetaMonkey” NFT among the digital zodiac heads has achieved an auction result of fifty thousand on our platform. Through this auction, the digital oriental art treasures have entered the virtual space and crypto world, allowing more people to feel the artistic charm of history. And become a channel for Ancient Chinese culture to be displayed to the world.

In addition, as I mentioned before, from May 23 to May.30, APENFT marketplace cooperated with Valuart and Vanity Fair, hold the auction event for Vanity Fair NFT covers drop.

The drop presents the Vanity Fair NFT Cover series, consisting of 5 NFTs, including 4 1/1 NFT covers by 4 well-known digital artists.These 4 NFT artworks will be sold by bidding.

We hope that through cooperation with such marvelous projects, combined with the promotion of the platform itself, APENFT can realize the cross-border integration of digital art and traditional art, technology, finance and other fields. Additionally, provide our users with a comprehensive and diverse experience.

8. What’s your team’s strategies or advice for users during the cycle of bearish market sentiment?

Eddie: I believe one of the most important word during the cycle of bearish mark is “BUIDL”.

Poloniex, as an exchange, a platform, is the infrastructure of the blockchain industry. Our mission is to connect the world to the power of cryptocurrency.

Whether it is a bear market or a bull market, the most important thing for us is to polish our products, improve our services, and devote ourselves to better serving our users. As long as we are continuously doing a good job in these, I believe we will be recognised by users and our efforts will be paid off.

For individual investors, I think the bear market is also a good time to “buidl”. It’s a good time to focus on observing and learning, and to accumulate more knowledge of this industry. So that when the next bull market comes, it will be easier to find high-quality projects.

Sydney：I believe that whenever the market enters a cooling-off period, it gives us an opportunity to polish our products and services. We will implement user needs and market experience into our products.

So simply keep thinking and filling in what users really want. Then, before the next bullish cycle arrives, we are well prepared to seize a new round of industry development opportunities.

At the same time, I also wish every one in the crypto industry can smoothly pass through every bottleneck period. The market changes very quickly. We must start from the perspective of projects and products and not be affected by FOMO emotions.

APENFT is also very welcome to cooperate with all NFT-loving partners to continuously launch high-quality content and services.

Thank you everyone.

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🎤Recap: The APENFT <> Poloniex Twitter Panel was originally published in The Poloniex blog on Medium, where people are continuing the conversation by highlighting and responding to this story.