NEAR Foundation Town Hall - June 14th, 2023 KNAQ Excerpt

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:00

   foreign hi everyone I'm Maggie um part of the near Foundation BG side and I want to introduce everyone to a super exciting project called Mac where we recently on board the was near particle so this nag is actually sitting at intersection of creative economy and also Webster as everyone knows with the rising of the creature economy many Creator many creators that are seeking to elevate their brands discover a new stream of revenues or connecting with fans on a

2. 0:34

   deeper level to uh they can they can utilize the blockchain to helping them to achieve different goals on on here so we're super excited to introduce Knack as one of the first projects on your practical to facilitate the Creator economy in Webster and I'll pass the floor to micro and then to give everyone more introduction from from their side hey guys um nice to meet you all this is Michael

3. 1:00

   and Dan we're the co-founders of knack um like Maggie mentioned we're building a loyalty platform for the Creator economy so we're really trying to bring you know the gap between web 2 uh into web 3 for fans and creators and Brands um so the idea here is to basically build a browser extension on top of Google Chrome and other types of formidable browsers to you know essentially capture user activity and

4. 1:24

   then reward them accordingly uh via engagement if you go to the next slide um we kind of talk a little bit more about our product um like I said we're building a very simple browser extension um effectively this doesn't disrupt normal user Behavior across different social media platforms and we're really trying to bring a gamified experience here meaning we allow users to actively engage with their creators by also

5. 1:48

   fostering community and in return we give them Awards um in the form of gift cards products Services um that they can redeem for VR platform token and um you know the product really just centralizes around um YouTube In the Beginning meaning we Target fans who are there on a daily basis to engage with their favorite creators and Brands and channels and they can basically start earning our

6. 2:12

   tokens through the engagement process and we believe this really creates a very very appealing uh value proposition because um not only does it drive more engagement um from the fan side but it also helps creators monetize and boost their own brand exposure um at the same time we're onboarding you know at least 15 to 20 brands at the moment to kind of partner with us and provide gift cards products and services

7. 2:36

   on top of our extension so we're able to actually use our tokens to redeem for those gift cards and services and Brands can also um you know drop affiliate links people can actually do Drop Shipping as well and um we can also offer advertisement spaces for Brands um and we get a cut of the ad Revenue share um you go to the next slide we can talk about more about our platform token

8. 2:59

   thanks Michael so like Michael mentioned The Knack token is what's going to go and power the entire platform it will be in NEP 141 token so running natively on the L1 and this will be what the users earn and what they redeem for all the experiences goods and services that are inside our platform and I'm really excited to highlight the key things here that we've done to go and really improve on what we've seen on like the other attempts in this social fi token space

9. 3:29

   uh the three things to highlight are the scalability the accessibility and the liquidity which we think were key roadblocks in the previous attempts that we believe we have alleviated in terms of scalability if you look at the Creator economy right there's over two million professionals alone and so if you were to go and try and make one for every single person that is something that even no exchange is handling right

10. 3:53

    now I think the most number of markets is around like 2700 on Eighth and so millions of markets is not scalable this directly leads to accessibility before the user right so when a user is trying to go and focus on engagement focus on what they love about their famous Creator you don't want them to have like an exchange like experience where it's very confusing and then ultimately this

11. 4:16

    leads to liquidity because by aggregating all of the user's activity and every Creator into one single platform token we make it so that users can be really familiar what's going on all the liquidity is aggregating to one place so anyone can go in and out super simple and they don't have to have to deal with any like you know slippage any of these kind of more Trader focused terms that would be very distracting and we'll go to the next slide so this is kind of our high level

12. 4:47

    overview of our of our roadmap um you know we have the extension built out right and we have a current partnership with YouTube so we have access to all their API data so we're able to track kind of user activity as you know fans start to engage with with um their creators that they follow on um on YouTube So the plan here is we've signed with two major talent agencies who've given us access to 65 different creators who want to partner with us they have

13. 5:11

    about over 100 million in terms of following across all their platforms um platforms being Tick Tock YouTube and twitch so and then we're opening more applications to new creators um at the moment and we've seen a lot of inbound interests as well so the plan would be just integrate with YouTube um start the official rollout process by the end of the summer and eventually move on to Twitch um and then the goal for next year is

14. 5:34

    we're hoping to become a also offer a y label service um for a B2B service provider for for Brands so we've spoken to a handful of companies including large Market business like Shake Shack we express interest working with us so we're hope we're hoping to basically build a wide label loyalty platform for them and then at the same time focus on the b2c side um as well so that's kind of the high level roadmap at the moment so we're

15. 6:01

    really excited to work with near um really appreciate all the support you guys have given us um I know you guys are really big onto the Creator economy and helping Bridge web 2 into web 3. so we feel like there's a lot of alignment here between us and the near protocol so really excited to see you know where things take off foreign