AMA Recap — Krida Fans
The session of AMA ( Ask Me Anything ) with Krida fans was conducted on 24 th Jan 2022 at 5:30 PM IST (12 PM UTC) and lasted for 1 hour.
Paurav from Krida Fans has joined us for this AMA session.
Please tell us about yourself and the team working on Krida Fans?
The team behind KridaFans is sports lovers, especially Football and Cricket. They are also global hackathons winners and worked in fortune top 15 companies. They know how to make scalable software with best security practices. We are a distributed team across time zones and continents as of now. Paurav is a computer engineer who loves to work with data and algorithms. He won the global hackathon in 2018 in San Francisco by devising the best algorithm for real-world problems in 23 hours. Started his crypto journey in 2016 with earn.com (previously known as 21. co) and experienced a 2017 boom following bust afterwards.
Saurabh is an IT veteran with 15+ years of experience. He is the shipping machine and backbone of KridaFans. His tech and infra prowess is acknowledged at great companies like Visa et al. Average experience of the team is 7 years, and equipped enough to build KridaFans
What is Krida Fans? Please provide a detailed introduction.
KridaFans is fantasy sports done right, where everyone has a fair chance to win. Krida.Fans — a Next-Generation Fantasy Sports Platform built on the Polygon Blockchain with a built-in In-Game NFT Marketplace and Community Platform. KridaFans brings the best of the Fantasy Sports and NFT Ecosystem in one place while creating a decentralized, community-driven and transparent blockchain-based fantasy sports platform.
We define scarcity based on how you use that player card NFT in creating your fantasy team. This kind of scarcity is called skill-based scarcity and it provides everyone with a fair chance to win, be it an early adopter or late entrant to the game. This is why I think KridaFans is making fantasy sports great again using blockchain.
Can you please tell us about it’s features and utility? Also Can you share info about the tokenomics distribution?
KridaFans mainly offers 4 features :
1. Skill-based scarcity for NFTs
Anyone can mint any player’s NFT. You are not limited by the number of NFTs of specific players (like Sorare). But the rarity of your NFT will be based on how you are going to use those NFTs.
2. more # of people, more # of winner
Generally in fantasy sports winning probability will be decreasing with an increasing number of users.
We are changing that by adding 25 winners every time 100 more players are added after the threshold. So, you increase your chance of winning by bringing your friends.
3. Detail rich NFTs
Each NFT of KridaFans is meta-data rich, you will have player’s statistics inside your NFT which will update after every match. This makes it more interesting.
We both can have Kohli or Ronalod (example) NFT and still different rarity levels.
4. Kridaks DAO
The community is called Kridaks. Gradually we will give reins of KridaFans to the Kridaks DAO and they will provide proposals as well as decision-makers
We have yesterday only released $KRIDA tokenomics, please feel free to read it here
Main Utility of KRIDA tokens is
1. entry fees and rewards of the game
2. minting NFT on platform
3. discounts on trading NFTs on the platform
4. staking rewards
5. Vote on governance proposal
What makes Krida Fans different from other projects? What are the current & Future Roadmap.
This is kind of going to repeat on our features but concise
KridaFans differentiates itself from any other blockchain and non-blockchain fantasy sports platforms in 3 ways:
1. skill-based scarcity for NFTs:
The rarity of your NFT will be defined by you, not the platform. This means you can increase the valuation of your NFT by making it rare.
2. Detail rich NFTs enabling 3rd party applications like card games in metaverse:
Each NFT in KridaFans has details that updates after every match, making these NFTs change based on live events.3. Social Reputation as multi-chain non-transferable NFT:
The community will be incentivized based on how they interact in the community
On the roadmap,
Our testnet is going to be launched in a few weeks. Keep an eye on discord and Twitter, because it will be incentivized testnet :)
Do the #KRIDA holders have the right to participate in the governance of the project? On what kind of decisions can they vote on about the project? AND Do you have any plan to create other features? Maybe yield farm, stake, or NFT project? Can you explain in more detail?
- Kridaks DAO will be involved in decision making as the game will go live.
- KIP, KridaFans Improvement Proposal will be there and voting will be done. They will be on entry fees, rewards, improvements on the platform.
- Stay tuned to announcements because all DeFi features are on the $KRIDA token also :)
There are already a few Fantasy Football games in crypto. Can you please tell the main advantages and benefits of choosing Krida Fans? How will you attract gamers from other platforms? What will you offer them so they will come to start play Krida Fans?
Agree on so many fantasy football platforms. What we are doing is innovation within fantasy football which NOONE has done till now.
You will either find rare NFTs (only 10 available kinda) and make team the same as web 2.0, so they are innovating on the periphery of Fantasy Football. We have an incentivization program for Web 3.0 and Web 2.0 fantasy football platforms. Once you play it, you see the difference. So we are going to solve first mile of the product :)
After checking the website, Krida Fans vision & Mission is good. but it needs a large user traffic to be sustainable over time. What is your marketing strategy to increase the validity of your project brand? Are you planning a strategic partnership to level up your project?
We have a strategic partnership with DeFi protocols to start with — Nord and DFYN have been announced. We are not going to stop there, more in the bags. We are also going to partner with local country web 2.0 partners because football fans are everywhere
Is there a Marketplace available on the KRIDA website where I can try to buy a NFT? Can you share information about this? When I have a Krida NFT will I be able to sell it in the Marketplace or trade it?
NFTs will be minted via KridaFans platform ONLY. Once minted, NFTs are going to be available on OpenSea as well as on KridaFans marketplace.
As soon as you have NFT, you can sell it. You will be incentivized to trade on KridaFans platform.
I read that by January 26, $KRIDA will be part of MEXC GLOBAL. What impact will this listing have on $KRIDA trading? How will this help them boost their protocols? What are the next listings you have planned for the near future of $KRIDA?
It’s IEO, so it will be listed there at the same time it is also going to be listed on DFYN.
So we are giving the user option of CEX as well as DEX. Can’t announce the next listings, but what I can assure is multiple CEX and DEX in planning :)
Where does the project name come from? What does it mean for you and why did you choose that name for your project?
The project name comes from the ancient Indian language, Sanskrit. Krida means getting enjoyment from playing, so we combined sports fans here and thus it become Krida Fans.
You may heard that some social media platforms collect their user data, and sell it to third parties without user’s permission. How can we be sure that this kind would not happen on Krida Fans? Is user data will stored safely?
Why we need your social data is to notify you that game started or lasted 5 mins to submit a team. The team is very well versed with security based on their experience working with the world’s best organizations such as Visa, Shell (oil & gas)
Does your project also provide a platform for Dex, STAKING and Farming in future plans? To increase profits for token holders?When do you think of integrating other blockchain into the project like BSC, HECO? Any plans for higher co Krida Fansge?
All DeFi features will be announced, keep an eye out there.
We are going to be one of the few games on EVM as well as non-EVM chains :).
Van Lam Phi
Im a software engineer and also a big fan of Krida Fans so How do I become one of the Krida Fans ? What requirements does Krida Fans have for startups when they enroll in Krida Fans incubation program?
We will be 2 to 3 quarters away from incubating other sports platform devs under KridaFans.
Hoang Qua Phi Tan
I love your project but still not convince on investing my funds. So can you tell me atleast 3 good reasons why I should invest in project?
I will never tell anyone to invest in any project.
What we are doing:
Since the inception of Idea, we are releasing weekly updates (Week 47 update coming today). We are only one project I guess who in crypto “building in public”. We have a few of the best backers and support in terms of hackathons winners and judges around hackathons.
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Paurav from Krida Fans. AMA Concluded at 6:30 pm IST.
CryptoPlayers is one of the oldest & largest crypto communities in India since early 2017. We are a group of 25000+ telegram members and growing.