XFinite AMA Recap
The session of AMA (Ask Me Anything) with Vikram Tanna and Mac was conducted on 24th June 2021 at 5:30 PM IST.
AMA at @CrytoPlayers started with a brief introduction by Xfinite. Here are some highlights of the AMA.
INTRODUCTION
MAC_oSwaneet Singh is CEO at Xfinite/ Mzaalo. He has a past in investment banking having worked 8 years in Goldman Sachs in their Technology, Media and Telecom team. Subsequently, he joing Eros Investments limited as head of strategy and led significant transactions. He is co- founder and CEO of Xfinite, there since the very start of the Project in summer 2018.
Vikram Tanna is COO at Xfinite/ Mzaalo, He has a wealth of experience in the media industry having worked for major players such as Viacom, Star and most recently Discovery as head of their Advertising Sales Business.
Myself, Mario Alberto Casiraghi, am the CSO at Xfinite/ Mzaalo. I also have a past in Investment banking having worked 6 years for companies such as Bank of America and RBS in their capital markets teams. I have been in crypto since 2014 and more deeply involved since 2016 when I launched an educational community to teach blockchain and finance ( basically DEFI when DEFI didn’t exist). I moved to crypto full time in 2017 and I am co-founder of Xfinite having been there since 2018.
ADMIN ROUND
Jonty|Host
Give a brief introduction about your project? and some of its unique features?
Vikram -
Xfinite aims to revolutionize digital media by bringing forth innovations to customer experience, data-driven engagement, and ecosystem economics for the benefit of the community. We offer a blockchain-based solution to ensure transparency and re-establish trust in the digital world. We have built the Xfinite platform around the digital token, XET. The XET token serves as the native currency of the Xfinite entertainment ecosystem and functions as a unique value exchange for all stakeholders including users, brands and influencers, and content producers. The XET token will offer its holders the ability to tap into economic incentives the Xfinite platform has to offer. We have launched our first dApp which is called Mzaalo. It’s a gamified video-on-demand platform. Our consumers are incentivized based on our engagement algorithm. There are several habits involved: Time spent, social habits etc. Consumers can then redeem these for a whole host of goods and services on the platform as well as participate in various fun features.
Jonty|Host
I’ve also Read about a cool feature such as Bid N Win? What is it exactly?
Vikram -
You can participate on Bid n win with your earned mzaalo tokens. This gives one a chance to interact with celebrities and influencers. It is our platform to enhance celeb — fan interactivity. We have associated with celebs like Rana D, Jonty Rhodes, and web series celebs on this platform. On the occasion of International Yoga Day (earlier this week), we had international yoga celebrity Mansi Gulati interact with her fans.
Jonty|Host
Can you share the achievements the team has made so far ? what are the major achievement Xfinite is yet to achieve?
MAC_o -
We are really proud of everything that we have built starting from our innovative business model and approach to the community that has turned out to be cutting edge since when we came up with it 3 years ago. We are also really happy about the validation that the market has provided as demonstrated by our numerous partnerships. Our strategic partners Algorand and EROS provide us with great assets and acceleration. Algorand is an amazing technology and team and is significantly accelerating our growth and social reach in the blockchain space. Eros on the other side allows us access to one of the best content libraries in Asia and the ability to be seen by many millions of people and prospective users. We also have many more partnerships such as Microsoft, Dailyhunt, over 25 other content partners and over 600 rewards partners that you can already find on our app https://mzaalo.com/
Content Partnerships
https://www.tvwnewsindia.com/mzaalo-signs-multiple-strategic-content-partnerships
Algorand:
https://www.businesswire.com/news/home/20210203005740/en/Xfinite-and-Algorand-Form-Strategic-Partnership-With-Eye-on-Mass-Adoption
Microsoft:
https://www.medianews4u.com/mzaalo-gets-support-from-microsoft-for-startups-to-offer-world-class-technology-boost-growth/
Dailyhunt:
https://www.medianews4u.com/mzaalo-enters-into-a-video-partnership-with-dailyhunt/
SpiceJet:
https://in.finance.yahoo.com/news/mzaalo-partners-mojo-boxx-content-111824376.html
Pune Devils — Cricket Partnership
https://brandequity.economictimes.indiatimes.com/news/marketing/pune-devils-cricket-team-partners-with-mzaalo-for/80447671
For the future we really look forward to bringing fun and value to the masses!
a₿hisΞk | CryptoPlayers -
Xfinite recently launched Mzaalo application aiming Indian markets! Tell us more on that and how is the response so far?
MAC_o -
You can find our app mzaalo.com on Android, iOS and browser …..
The response has been great! we have a few million registered users, over 1.5m on youtube https://www.youtube.com/channel/UCbhaEGajTUPAqUe62N8GJmg
And growing! we hope that this community will help us grow further and spread the word.
Jonty|Host
How can Xfinite attract users? What do you think will drive demand and value for your token?
Vikram -
The Mzaalo app from Xfinite offers various features that would attract users. Not only we have premium content available for free on the platform we reward users for engaging on our platform. There is a range of 600+ reward partners we have on our platform. These can range from discount codes across several genres: food and Bvg., hospitality, health, transportation, FMCG, general consumer goods, luxury products. Like I mentioned earlier, we also have enabled features that potentially allow our consumers to gain access to experiences that money cannot buy such as meeting with celebrities or influencers, exclusive movie merchandise. We will be expanding on these features as they have proved to be successful. Additionally, customized token algorithms for our content and strategic distribution partners like Dailyhunt and SpiceJet significantly increases our reach as they have 100s million of users. We constantly update our product to create new & innovative formats of engagement for our consumers — this helps in retention and creates a lot of positive word of mouth, consequently catalyzing organic growth. You can see a lot of our updates if you check the app recurrently and you can see what to expect looking at our roadmap on our website. Xfinite really is a mass adoption play, with the ability to open millions of wallets from day one. As a token holder, you get exposure to the growth and engagement level of our community that coupled with fixed supply will drive scarcity. The demand will come from the use of ecosystem services, demand for our over 600+ rewards (+ NFTs and premium experiences in the future) that our users desire and watch content for — Get paid to watch what you love.
Jonty|Host
What's the total supply of the token? Could you share a detailed tokenomics of mainnet token’s supply distribution? And also share your roadmap.
MAC_o -
XET token has a 4,000,000,000 (4bn) total token supply of which 25% is being distributed to token holders. You can see details on xfinite.io
TWITTER ROUND -
Jonty|Host
From what I could see they have an extensive list of investors and associates within many fields such as technology, cryptography, entertainment, health, networks and even well-known brands such as adiddas and microsoft. How do all of these contribute to the Xfinite ecosystem?
Vikram -
We have some of the best investors in the space: Borderless capital, Algorand, Moonwhale, DoublePeak among others. Reward ecosystem includes 600+ established brand partners — some of them are Crocs, McDelivery, Vero Moda, Adidas, P&G shop, Puma, Decathlon, Marks & Spencer, Fossil; these enable us to provide a monthly refreshed catalogue for our consumers. Additionally, they participate on our Bid & Win platform for consumer engagement by sponsoring exciting prizes. Tech: We are part of the Microsoft ScaleUp program. They provide us valuable tech, co-selling opportunities with their partners and strategic advisory.
Content Partners: We have 25+ premium content partners including a strategic partnership with Eros Now which gives us access to their premium entertainment content — one of the largest movie libraries (over 12,000 titles), as well as premium original episodic series, music videos, unmatched in quantity and quality.
Strategic Partnerships: We power the inflight entertainment system of Spicejet (domestic Indian airline) to bring alive the concept of Entertainment on the GO. Our partnership with Daily Hunt gives an opportunity to reach out to 250+ Mn MAUs on their platform.
a₿hisΞk | CryptoPlayers -
You mentioned that you are using NFTs in completely new ways. What are these new ways? How does Xfinite innovate in the NFT space and how does it stand out from other similar projects? Can you share with us the new ways that Xfinite brings?
MAC_o -
We are developing NFT features that go beyond just the hype. We want to use NFTs as a strong engagement layer and a way of creating unique IP whether as an individual or a content producer.
For example, we are working on launching our fan tokens that will allow celebrities and influencers to interact with their fans through what we call decentralised social governance, in which users can participate in the celebrities social life by participating in polls and surveys.
Jonty|Host
Xfinite is about revolutionizing digital media by innovating the customer experience, but are you qualified to meet this ambitious goal or will you evolve over time? Do you have more innovative features than your global competitors?
Vikram -
It has been an incredible journey, growing from a handful of team members to scaling it to over 50 super talented employees today. Our team has a unique combination of tech and entertainment experience to build value creation in the blockchain space. Xfinite having been immersed in the blockchain space since the early stages of this innovative technology have developed valuable experience & superior strategic & execution capabilities. Also, our achievement of milestones and the multiple strategic partners is a testament to our strategic & execution abilities and the interest the project has been able to generate. We are consumer obsessed, building competitive advantage and ensuring our consumers are the biggest advocates — some of the cool innovations for consumers have been — free premium content with rewards, extensive reward catalogue, bid n win platform, and new initiatives like NFT based collectibles.
natz® | Host
Will Xfinite try and tie-up with Xbox — as you are supported by M$ ?? Mzaalo, a blockchain-based platform in the gamified video and entertainment ecosystem, has been selected by Microsoft to be part of the Microsoft ScaleUp Program. < — So an Tie-up with Xbox will surely be a big big plus … any inputs ?
MAC_o -
That's a good idea! thank you we will consider it. For sure device integration such as tv app of Xbox are super powerful!
natz® | Host
How will you check the demand and supply in Entertainment ??? Users want reasonable rates plus entertainment is not a luxury these days its easily available via many apps — even netflix movies and series are seeable via other mediums, how will you guys tackle these issues ??
Demand / Supply / Affordability / Durability / Viability < — -
Vikram -
We feel that there are several content consumption mechanisms and in a lot of places, subscription video-on-demand services may not be the only way that is efficient for users to consume content. We wanted to democratize the content consumption process and allow content to be consumed free, anytime, anywhere and for anyone. We think there is a market for this in several parts of the world but at the moment, though our dApp Mzaalo is available to download globally, we are predominantly focused on South Asia, we may decide to expand to other regions over the course of time. Our unique proposition — Strategic content partnerships (25 and growing) coupled with consumer rewards (600 + partners) to create an equitable distribution of value creation amongst stakeholders — users, content producers and advertisers.
Telegram Round -
🐹Mickey -
Do you have AUDIT certificates, or are you working to AUDIT your project, to make it more secure and reliable?
MAC_o -
Yes, we have completed an Audit with Runtimeverifications which are industry leaders in code review.
Yo Man -
Eth fees are high nowadays. Do you have any plan to list in BSC like pancake swap in near future?
MAC_o -
We are considering multi-chain Defi integrations…. there should be some very cool news very soon ;) Also, we are an algorand standard asset so fees won't be bad for us.
Nii-chan -
♥️Q.You guys are doing Ama’s in all group & almost answering same types of questions again and again? How do You feel about it?
MAC_o -
We love reaching out to different communities and spread our stories. The more the stronger!
It’s Okay -
Who is your competitive at present time? How to come first position in all them?
Mac o -
We are bringing mass adoption to the blockchain so rather than a media play in the blockchain world we are a blockchain play in the media world and this gives us an edge when compared to any other blockchain company.
andrewcoad Coady -
Staking is a great way to hold users and something to reward supporters. Do you have any plans to offer staking to your community?
MAC_o -
yes, 11.25% of the total supply will go towards a farming programme.
√TOÀN LÊ -
🟣What is the most ambitious goal of your project? Could share with us any Upcoming Updates?
MAC_o -
pls, visit xfinite.io.
WenMoon -
Do you have plans to build your wallet and What wallets can support your tokens?
MAC_o -
Algorand wallets.
TINI MO -
Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
MAC_o -
we are a super visible super credible team with top notch partners to vouch for us :)
Get it -
What is the main vision and goal of your project and who are your targeted customers?
Vikram -
We would like to establish ourselves as an agent of change by introducing the concept of value creation for users in the digital entertainment ecosystem and set an example for others to follow. This is our short-medium-long term goal and the very nature of our mission. In concrete terms, we have established a new infrastructure to build on, with simple POCs that will demonstrate to the world how powerful our vision is, even with simple tools. We have a very interesting roadmap; our journey has already started, and we truly believe we are already transforming the space, our impact will increase exponentially with new features and increased adoption. 2021 is going to be an exciting year for Xfinite. The only constant changes and we want to always be pioneering new ways of democratizing digital media. We are proud of the launching of our platform, mzaalo.com, and it is already providing FUN & equitable distribution of value to users across South East Asia in these difficult times. Our #FansFirst approach lead by content and rewards enables us to build the Content drives Commerce proposition. Consumer behavioural habits of premium content consumption and reward redemptions across 25+ categories help us understand our users better. We also have valuable insights on consumers that have been previously engaged with the content through our partners We are re-targeting and creating new data sets and improving efficiency.
That’s all…
AMA concluded at 6:50 PM IST. It was our pleasure to host AMA with XFinite team, quite informative & knowledgeable AMA it was.
