AMA Recap — Colexion
The session of AMA ( Ask Me Anything ) with Colexion was conducted on 29 th Dec 2021 at 5:30 PM IST (12 PM UTC) and lasted for 1;30 hours.
Abhay Aggarwal (CEO)from Colexion has joined us for this AMA session.
Please introduce yourself and the team working on Colexion?
I myself come from a Mining Industrial background. Invested in a couple of startups. Active in the tech space. Developed my interest in the Crypto space in late Dec 2020 and since then there is no looking back. Then we have Bibin Babu, COO and co-founder. He also has been actively investing in tech startups along with building a couple of companies.
Our CTO, Mo Akram has been into tech for 12 + years and has ample experience in the blockchain space. Besides this, we have a Chief Design officer who is ex discovery, Microsoft. Then Creative Director with Tier A company experience too. We have a strong team of 70+ people working full time with us.
Can you tell us about market pie you are trying to conquer, your competitors and your SWOT analysis for your offerings?
The market we are trying to address is Crypto users, Sports/Entertainment lovers and the Online gaming community. And to start with our focus is on commonwealth nations. Competitors — There aren’t direct competitors as of now in the region because of what we offer and how different we are amongst others. But we still see Ethernity as a competitor.
S — We offer a premium yet affordable NFTs
— Multiple usabilities of NFTs in Gaming, Museum and later in Metaverse
— NFTs of these legends carry a lot of notional and slex value
— High tradability of NFTs in the near future
W — Low level of awareness in the market about NFTs. We are doing our efforts to make a dent.
O — Huge huge untapped market around NFTs. With our unique offering of Virtual museums, Gaming and Metaverse. We offer an overall experience to users. We have a whole ecosystem and are not just an NFT marketplace.
T — None for now.
What are your recent achievements and what is planned ahead?
Marketplace will go live in January.
Token will be launched in January as well via Tier A ONLY launchpads and exchanges.
The First Trump Card game will be launched in Feb. Although profit is an important achievement of business success, we at Colexion believe in curating innovative technologies and making them accessible. Our goal in creating Colexion was to incorporate technology advancements and make sure that we move forward in the digital era.
If we have to list our achievements, on top of my mind would be, having POLYGON as our lead investor. It eliminates the downsides of Blockchain technology, such as high gas fees and dismal speeds, as well as maintaining security.
Our concept of creating a virtual NFT museum is one of a kind. People will have access to witness the NFTs of legendary celebrities virtually. It’ll be a metaverse for all those dedicated fans. 2 weeks back, we closed the seed round because it was fully subscribed, which is a great feeling! We have Brevan Howard’s Alan Howard as an investor, Yuvraj Singh who is an Indian legend in cricket and Suniel Shetty a famous Indian actor as an investor too. Besides this, A couple of more major names are with us.
We have something in store for game enthusiasts too. There are several NFT games that will be linked to the NFTs that users will purchase. Colexion is introducing a play-to-earn game model, for the first time in India. Gaming and NFTs have joined hands together, which is going to be the biggest industry together. Our aim is to revolutionize the gaming industry.
We did one 1st drop and 2nd one too.
With 30 top celebrities doing their NFT drop on the same day, same platform. First time ever. It was the trump card addition that we dropped on 12th December.
Then we sent the Bat of Yuvraj Singh to space. It was no ordinary bat, it was the bat using which he scored his first century
That bat has been auctioned and has already received bids worth 51k USD and above.
We have Warrior NFTs of Yuvraj as well.
Which is has 2500 units at 40 USD each, unlike the Bat which is a single unit.
The bid for the bat is live till 30th Dec midnight EST time.
And the warrior NFTs are still there a bit so anyone can grab them now!
Bat is like 53k USD now. So it’s the choice if people wanna bid for it. The highest bidder also gets a chance to bowl 6 balls to Yuvraj Singh in a famous big stadium.
Can you share some details on the kind of partnerships you have?
Colexion has partnered with Polygon, Brevan Howard, Hyperedge, Mr Yuvraj Singh and Mr Sunil Shetty, ArcadeNetwork, ZBS Capital, CV VC Labs and so on. Polygon Studios, ZBS Capital, Hyperedge Capital, CV VC project and a couple more have invested in us. We are finalising ONLY tier A exchanges and Launchpads. Already finalised 1 each and will be announcing them soon. Things are pretty well for us in terms of partnerships. We are personally being incubated by the Polygon team.
There are many NFT platforms in the world. How is Colexion different from others? What do you think are the Colexion advantages over its competitors?
Interesting one though
Btw, before answering would like to share some interesting tweet links
Someone actually created a DAO for the bat we auctioned
Yuvraj also shares the snapshot.
So answering this, NFTs are the new hot topic in this digital era. There are several NFT marketplaces around the globe; what makes us different is that we offer a variety of services. Most of them focus mainly on one or two NFT services. We have celebrity collaborations, trump cards, collectables, digital arts, digital museums, and much more. We are a bigger metaverse tbh.
We are covering the entire lifecycle of NFTs. We offer more features on Colexion than you can find on any other platform. Colexion is much more than just an NFT marketplace; we are an NFT experience. Hence we are not just different; we are better than other existing NFT marketplaces. And this is being said not just based on my interest in the company but actual facts.
What’s going to be the impact of NFTs? Can you elaborate on the model that NFT follows for creators?
I believe that NFTs will generate employment in the world. It will act as a medium for people to showcase their digital art. We may even find our next Picasso and MF Hussain, and this is the first time that gaming has become a part of the blockchain industry. Gaming and NFTs have joined hands together, which is going to be the biggest industry together. Colexion is going to enable the Play-To-Earn gaming model as well. Gaming will be revolutionized by this development, We have released a combo of 5 trump cards.
People can own many sets of these combo packs. You can play a trump card game, for instance, if you have NFT of Kieron Pollard but you don’t have NFT of Brendon McCullum. You play the trump card game: whoever wins the game wins the other person’s NFT card. This is just an example of how the gamification of NFTs will happen on our platform.
We also have a “Predict and win” game, where you can win cash prizes in the form of our tokens. So this was just an overview of how our play-to-earn gaming model will work.
NFTs are adding a monetizing model all together around it. Facebook content, Instagram reels are actually enabling creators to generate revenue, but NFTs provide the next level to it. NFT is that one place where your ownership of your content actually stays with you, or you take ownership of any existing premium content, and you monetize it in multiple ways.
The creators are entirely dependent on ad revenues and algorithms which they do not control. NFT can actually solve this issue.
I see that the Premium Trump Card combo packs are been dropped tomorrow so what are the requirements to get them and will they be available for everyone?
Trump card combo packs were already dropped on 12th December for 30 USD each pack.
It has been open for all. No restrictions. Just the restriction on how many packs can be purchased by a single person.
Open to all
Now we have Yuvraj’s drop that happened on 25th
Warrior NFT and the Rare Bat.
Are you working on any partnerships or marketing initiatives to help build awareness for your”@colexionNFT platform?
Yes, we have done several partnerships as I mentioned before. Talking about awareness via marketing. We have organically been covered by several Youtubers. And a lot of media coverage for our drops and fundraising news.
How big is your marketing team and do you have an experienced team ? Are you a public team and how can we trust your project is legit?
We have an in-house team of 20+ for marketing alone
External 2–3 agencies that help with PR, Influencers etc
We have a team filled with experience. The main CMO is a person with 14 plus years of marketing experience.
The others are having at least 4–5 years of experience in their own marketing niche. Yes, we are a public team. We even got covered by several publications. Done interviews on Live News channels like CNBC news 18 etc
Our project is backed by all the big investors you can name and all big international celebs.
Besides this, we have been audited by Hacken for smart contracts. All this coming into play means that we are actually the most legit project ever in the crypto space. Note, all this info is public and everyone can go and check out our social media for further details and proof of my statements.
Will there be any nft on dhoni? I really need one
So, no Dhoni’s NFT is not dropping on our platform yet.
But we are working on bringing Dhoni to the NFT world tooo!!
তুমি শুধু তোমার
What is the biggest challenge you face currently in terms of becoming a successful project?
Adoption in India and otherwise. People still don't understand what NFT is and why these are bringing a paradigm shift in the world.
How profitable is “Colexion’ sustain your project? What is your business model? How can you bring mutual benefits for both your investor and your project?
We have benefits for all parties involved.
The celebs earn from each drop revenue as well as the platform i.e. us too. The token’s utility is also something very solid on our platform so surely going big in numbers soon.
How can I invest in your project and where can I buy your Token?
The Tokens are not launched yet.
The ticker is CLXN. You will soon be able to participate in the public rounds on several big IDO platforms and then our tokens will be listed on tier A exchanges only. And please be beware of scammers. Our tokens are not launched yet.
How important is community to you? And how can we help you develop the project? And where can we buy your project token, you share with us?
The community is very very imp to us. We have several reward systems for our community too! Not only rewards but fair compensation criteria in our drops, and soon for the IDO participation.
What’s your main focus right now, are you focused on the community or market/Exchange or the products?
The main focus from the past month has been product launches. Hardly any crypto project launches their product first and then launches their tokens. We are a solid company as can be judged.
We have launched the drops and product in the past month and now we will focus on the token launch in Jan along with a couple of other product launches.
Why should users choose Colexion? Can you name 3 advantages for users to decide to choose Colexion?
1. NFTs with utilities
2. A complete ecosystem of NFTs. A virtual museum, NFT gaming, interactive NFT drops, a complete metaverse to be launched soon.
3. Several categories,
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guests Abhay Aggarwal from Colexion. AMA Concluded at 7 pm IST.