bitsCrunch x Crypto Talkz AMA Recap!
We recently hosted an AMA in the Crypto Talkz community, on September 15th at 12.00 PM UTC. If you’ve missed the live session, don’t worry, this blogpost will keep you up-to-date on the sharing by our CEO, Vijay.
Without further due, let’s jump right into the AMA session!
Introduction Questions Asked By Team Crypto Talkz
Q1. Please introduce yourself to our community!
Answer – Hey guys Vijay here from Munich, Germany. I’m the founder & CEO of bitsCrunch, a Blockchain Analytics company focusing on securing the NFT ecosystem. I’m a TEDx speaker, been recognised as one of the top 20+ inspiring Data Scientists to be followed on LinkedIn in 2020.
Q2. Could you describe bitsCrunch and give us an introduction to the project?
Answer – Like I said, bitsCrunch is a Blockchain Analytics company operating in Germany and India.
Our Vision — We foresee ourselves as the ecosystem guardians protecting the NFT world with our value added securing services.
Our Mission — To combat the malicious transactions that occur in the marketplaces and to prevent the NFT enthusiast from getting exploited with forged NFT assets while providing the Fair Price Estimation for the NFT Assets.
Project Introduction :
- Crunch DaVinci — Digital Asset Forgery Detection System.
- Liquify — Fair Price Estimation of Digital Assets.
- Scour — Detecting Wash trade transactions within the marketplaces and preventing the rewards minting mechanism.
Q3. What are your main features that distinguish you from other projects and what competitive advantages do you have?
Answer – Our unique selling proposition that sets us apart from other projects :
- Quickly assess the fair price for NFT’s
- Verify whether an NFT Digital Asset is forged or not
- Confront the wash trades within the marketplaces
- Real-time NFT analytics for marketplaces and portfolio tracker
Competitive Advantage over the competitors:
- We already have all the NFT data.
- People get smarter with new spoofing techniques, so in order to confront all those techniques, we build AI models to combat all the potential issues and safeguard the NFT Marketplace.
We blend ARTIFICIAL INTELLIGENCE with Blockchain and that’s the key difference
Q4. How has the experience and background of your team been effective in the success of your project so far?
Answer – We are a Data Savvy team with more than 25+ years of commutative experience in Data Analytics, Machine Learning, Artificial Intelligence and Blockchain.
Myself, a masters grad from TU Munich, one of the top universities in the world right now, our cofounder holds a Masters degree from Dublin, Ireland & our CTO holds a PhD from LMU university Germany, so it’s a mix of rich academic experience & having got work experiences from big German firms like Volkswagen & Siemens helps our journey.
Q5. Are you working on any partnerships or marketing initiatives to help build awareness for your platform?
Answer – Yes, of course. We are. We are also working on curating an Ambassador Program (Crunchers program) to increase our brand awareness
Q6. What are the future development plans for bitsCrunch?
Answer – Our immediate next priority for Q4–2021 is to accrue more customers for our Scour offering and to kick off the private investment round. As for 2022, we have big plans to bring a B2C offering and also further develop Liquify, Crunch DaVinci to make them mass market ready. $BCUT TGE will be another key event to look forward to in 2022.
Questions Asked on Twitter For bitsCrunch Team!
Q1. Do you have plans on being a DAO anytime soon? And how will you implement your products like #Scour #crunchdavinci #liquify in a DAO setting ?
Answer – Yes, we do have plans of going DAO and involve the community in every step of our journey. More details about the DAO and our decentralization model will be made available in the near future.
In the immediate future we plan to bring in community members to beta test our products and to collaborate jointly.
Decentralization is one thing we always believe in & we will empower the community to secure and safeguard such a vibrant NFT ecosystem
Q2. So can you tell us about your Evolved Brand Identity? What does the logo symbolize and how will this new identity develop a deeper relationship with the community in the NFT space?
Answer – Our prior branding was too understated and restricted. We needed one for bold expression of who we are: The Ecosystem Guardians.
The logo is a symbolic view of a shield, which denotes our robust and intelligent (AI) solution and protection in the blockchain.
Our cross-functional team of artificial intelligence experts is building towards a better future for the NFT ecosystem. We’re eager to leverage our new identity to develop a deeper relationship with the community in the NFT and crypto space.
We are more like a NFT Police 😉
Q3. Given the increase in piracy in digital art content, what strategy and/or mechanism will bitsCrunch implement to ensure full protection of artists and their creations from possible counterfeits, imitations and pirated digital art content (NFT’s)?
Answer – Digital forgery is a manice and bitsCruch will fight to protect the rights of the creators. We respect artistry provenance where our Crunch DaVinci will extract the key features from each asset / art on pixel by pixel basis. So that even minor manipulations on top of the original asset / art will be identified easily.
People selling copycats and forgeries should be given a whack by our AI watchdog 😅
Q4. Liquify is bitsCrunch’s enhanced AI model that helps determine the value of NFT. But if their value is really the value made by the creator, since he is the one who gives meaning to the collection, how can bitsCrunch fairly determine the value of NFT even when using AI?
Answer — Liquify provides an estimated price of an NFT and for this estimation we take into consideration several key aspects starting from past sale history up to social media influence and arrive at Fair Price estimation. It is still in the hands of the NFT creator to finalize the list price for the NFT.
We will be giving them a tramline on what’s the fair price of the NFT an artist mints.
Q5. bitsCrunch has a Digital Asset forgery detection system. How exactly does this detect forgery? Can you tell us what are the advantages of having this system applied into an NFT platform and how can they avail this service from bitsCrunch?
Answer – As mentioned in one of the previous answers, Crunch DaVinci extracts key features from each asset / art on pixel by pixel basis and does vanity checks before minting a new NFT. This vanity check is to make sure whether the NFT that is about to be minted has any similarities with any of the NFT’s that have been minted across any marketplaces and blockchains.
Crunch DaVinci provides security to the artist / creator’s works and helps it from being stolen. It will also help collectors to buy original art work and not fall for duplicates.
bitsCrunch — For the Community 😅💪🏽 and by the Community (in the near future)
Questions Asked on AMA Live Session!
Q1. We want to buy tokens for your project. How do we buy tokens? And how do I sell it?
Answer – We haven’t launched our tokens yet. It will be launched early next year.
Thanks for your interest in bitsCrunch & our BCUT tokens. Stay tuned
Q2. May I know what’s the difference between bitsCrunch and Icytools, Nansen AI and Nonfungible?
Answer – The key difference between them and us is the products built using ARTIFICIAL INTELLIGENCE & MACHINE LEARNING.
We are not just another Blockchain Analytics Company. We are product focused.
Q3. When will bitsCrunch begin making money from its products?
Answer – We are already generating revenue, which is already a good sign. Not a lot of crypto firms generate revenue at the moment.
Q4. Already in the immense NFT ecosystem there are identity thefts that manipulate both the volume and the price of the assets in that ecosystem, so, being aware of that situation, what actions on the matter will bitsCrunch take to detect and mark those phishing transactions?
Answer – We are in touch with big marketplaces like Rarible to plug those holes in the ecosystem
Q5. You stated earlier that you are working on an Ambassador program to increase brand awareness. My question is who and what are the qualifications to apply to be an Ambassador for your brand?
Answer – Anyone can apply to that program. It’s open to everyone
You should have the same goals as us, in securing the NFT ecosystem
Q6. Do you guys feel satisfied by seeing bitsCrunch progress and achievements till now, when you look back to the day when you started this project?
Answer – Yes of course. A lot has changed over the past months.
The seed round and the upcoming private round are gonna be the feathers in our cap 🙂
Q7. I saw the blockchains supported by bitsCrunch as Ethereum, Polygon, Polkadot and Avalanche. Why don’t you prefer BSC? Can you give some information about what you see in BSC that does not fit bitsCrunch? Is bitsCrunch different from other projects that it does not prefer BSC?
Answer – We will move towards other chains like BSC Solana and other chains
That’s in the roadmap.
Q8. In how many ways or what are the ways bitsCrunch generates revenue? What is the revenue model? How can it be beneficial for both investors and for the project itself?
Answer – Ours is a SAAS model. Pick services and pay for it monthly.
Stake our tokens once it’s launched. Right now we are charging in USDT / USDC
Q9. While you build your project, do you take into account community feedback and demands? While you build your project, do you take into account community feedback and demands?
Answer – Yes, that’s the reason why we are open pretty early than other projects which usually opens up after Private rounds
We are keen on getting inputs and feedback from the community.
We are building products for the community 🥳🙌🏽🙌🏽🙌🏽
It’s time for Wrapping Up, any last words you would like to say to the community?
Answer – We are a very early stage startup & the support that we have got so far is massive. We are thankful to each and everyone who is rooting for us to come good.
We have just started. Still a longgggg way to go.
Will justify the tag of NFT ECOSYSTEM GUARDIANS soon 🚀🚀🚀
Thank you everyone
#BCUT 🚀🚀🚀
About bitsCrunch
bitsCrunch is the Guardian of the NFT ecosystem. We are one of the top 4 AI companies in Munich, Germany that excels in Blockchain technology. We believe that blending a proven technology like Artificial Intelligence with Blockchain technology can do wonders and make the ecosystem much more safer and reliable ! Our mission is to create impactful insights from intricate data sources, by harnessing predictive analytical systems which are empowering organizations with actionable intelligence.