NFT Alley AMA Transcript

BSC.NEWS Hosts, Multi-Chain NFT, a platform where trades are made simple through intuitive marketplace All questions answered by Abhijith Dattatreya | NFT Alley (@AbhijithDattatreya)

By
CryptoShrimp
on
April 7, 2021
Category:
AMA

Crypto Shrimp (AMA Host): Lets welcome NFT Alley to BSC News for an exciting round of AMA. We will learn more about the project and what are installed for their development

You must be a busy man to catch as well, thanks for making it on time to attend this 🙂 how are you feeling today?

Abhijith Dattatreya | NFT Alley: Excited to be here! Let's have an amazing AMA 😄

Hahah! Yes, calls all day. Thankful that I made it in time :) All well from my side, super excited to talk about NFT Alley with the bsc news community!


Q1 Let’s kick off with an introduction of you and your team members, what are your roles and past experiences?


Abhijith Dattatreya | NFT Alley: Hahah! Yes, calls all day. Thankful that I made it in time :) All well from my side, super excited to talk about NFT Alley with the bsc news community!

Sure! I'm a Co-Founder at NFT Alley. I handle the product and operations aspects.

A quick intro on my background: I have helped formulate product/business strategies for Fortune 500 companies over the past few years. I have also been an active NFT user/enthusiast since the early crypto kitties days.

You can find the founder's info on the website (nftalley.io). Also, we are a team of 10 people (2 solidity devs, 3 full stack, 1 backend, 1 devops and we have 3 interns for social media marketing).

Crypto Shrimp (AMA Host): crypto kitties! they are really a thing back then, until now i think they stil cost quite a bit

Abhijith Dattatreya | NFT Alley: Yep they do! :) NFTs have come a long way from that point. Quite an exciting journey.

Crypto Shrimp (AMA Host): So what brought you into the crypto world? Is it the kitties?

Abhijith Dattatreya | NFT Alley: I've always been in crypto, started out btc/eth mining.. then NFT games (Kitties and a few others), then I was collecting random stuff on rarible/opensea. I am also an addict for ENS names, have quite a bit of them :D

Crypto Shrimp (AMA Host): we just had an ama with a mining concept too, was telling the audience that's how i entered crypto as well!

Abhijith Dattatreya | NFT Alley: Ah that's nice! We are all on the same boat :)

Crypto Shrimp (AMA Host): you must be quite a collector yourself

Abhijith Dattatreya | NFT Alley: Yep! NFTs right now, it was philately and numismatics previously. Always been a collector 😄

Crypto Shrimp (AMA Host): great stuff!

Q2 Interesting to find out what gave the inspiration to come out with NFT Alley? How did everything come together?


Abhijith Dattatreya | NFT Alley: Like I mentioned previously, I was into NFT games, collecting ens names and random NFT stuff. Was a lot of fun when ETH was trading at 200$ and gas costs were negligible. As we all know, at present it is very difficult to do transactions on ETH due to the insane amount of fees. ( I feel fees.wtf shouldn't exist, gives me blood tears everytime I check the website :D )

A huge number of artists or collectors are staying away due to this reason). NFT Alley aims to help artists/collectors mint/transact an NFT for a fraction of the costs incurred at present on ETH. We will also be the first dedicated marketplace on BSC with custom minting options.

Crypto Shrimp (AMA Host): wow that's great news for the Artists! I myself helped a few artist to mint their arts into NFT and sell them, in turn teach them about defi and show them the ropes as well..

Abhijith Dattatreya | NFT Alley: That's great to hear! Well, you could possibly introduce nft alley to them 😉. We are always looking forward to meeting cool artists to collaborate with.

Crypto Shrimp (AMA Host): This goes without a doubt!

I bet gas fee is also the reason why you chose BSC network as well.. 

I must say minting NFT is getting expensive in BSC, will NFT Alley solve this problem too?

Abhijith Dattatreya | NFT Alley: Yep, Our fees are actually under 15 dollars all inclusive (Mint and sell).

I'll try to get some stats from testnet on fees over the weekend and update in our weekly development newsletter. :)

Crypto Shrimp (AMA Host): oh wow I am definitely going to let all my artist friends that are struggling in real life about this and most likely help them out with the set up! 


Q3 Bring me to the next question, how hard is it to mint and sell on NFT Alley ?


Abhijith Dattatreya | NFT Alley: That would be awesome! We are quite excited to meet them.

It's quite easy actually, you just need to upload an image/gif/.. mention name, description, price and your custom characteristics(if any) and click on mint. 

*Minting takes close to 20 seconds.

*We'll also have a small faq section and a video on how this would work as well.

Crypto Shrimp (AMA Host): oh wow that's so easy!!


Q4 so what if its a project comes along and wants an NFT to be minted for like an achievement or milestone, so as to do a giveaway, is it possible to do it with NFT Alley, with multiple mints of the same design?


Abhijith Dattatreya | NFT Alley: Just clarifying, You mean like a collection of the same nfts? Say 100 pieces or something?

Yep that's possible

Crypto Shrimp (AMA Host): yes that's right, can the other projects look for NFT Alley on that?

So do we also do that the same way as the individual NFT but multiple times or we have to approach the team?

Abhijith Dattatreya | NFT Alley: Yep, creating multiple collections is very much possible.

Right now we are enabling only individual artists to create collections, but we are looking to collaborate with projects in the future and bring out a separate section for it.

Crypto Shrimp (AMA Host): great stuff, gonna ask KDOT to mint some for the BSC News team! hahaha

So far what we covered are artist point of view, big project dealings, now let's talk about investors. 

Abhijith Dattatreya | NFT Alley: :D Nice! Looking forward to it KDOT!

Crypto Shrimp (AMA Host): I'm so gonna be sacked after this...

Abhijith Dattatreya | NFT Alley: Haha! I'm sure you won't be, you are an amazing host :)


Q5 Realistic price discovery mechanism I believe is for investors ? could you fill us in on how this works?


Abhijith Dattatreya | NFT Alley: We are doing some POCs on this aspect. Right now the concept is, you stake an NFT.. you receive a bep20 representation of it in your wallet. (You'll have flexibility of naming your token).. You can then provide liquidity for it on pancakeswap, set the price and enable trading.

Crypto Shrimp (AMA Host): this will be great for those who are interested in collecting NFTs

you are too kind sir.. thanks for that

Abhijith Dattatreya | NFT Alley: Yep, also for people who like trading :)

Q6 What about cross chains, can the NFT be transferred across the different chains? Will that be possible?


Abhijith Dattatreya | NFT Alley: Cross chain is not possible, NFTs can't be transferred across chains directly. What we are trying out is a multi chain approach, where we will help you lock a NFT on one chain(or burn it) and mint the same on the blockchain of your preference.

Crypto Shrimp (AMA Host): ahh i see so from the public point of view it will look as if it went cross chain! That's one clever way of working the system

Q7 How are the security aspects being taken care of in NFT alley? i'm sure we are concern about our precious collections and not losing them


Abhijith Dattatreya | NFT Alley: Yes, our contracts will be audited by 3rd parties once our internal reviews of testnet is done. Also, in terms of platform, NFT Alley requires additional security as we have a lot of tech/art apart from smart contracts and security has been our prime focus. We also have an in house security researcher who does the role white hacker to make sure our product is completely secure. On the cloud side, where our resources will be deployed we have already received an A+ security rating.

Crypto Shrimp (AMA Host): Awesome stuff, looks like you guys put in a lot of work in terms of security!

Abhijith Dattatreya | NFT Alley: Yep, we are making sure that we cover all aspects.


Q8 one other thing that I saw on NFTalley.io there's an Alley reward, how does this work?


Abhijith Dattatreya | NFT Alley: We'll enable liquidity mining, also we'll have a rewards program to incentivize artists to mint on our platform.

You'll earn $Alley for minting art and transacting it :)

Crypto Shrimp (AMA Host): you guys really take good care of the artists for sure!


Q9 What are the ongoing developments that you guys are working on?


Abhijith Dattatreya | NFT Alley: Our product is live on testnet and the internal reviews are progressing at rapid pace. You can find our development updates on our medium, we try to publish a development article every week https://nftalley.medium.com/nft-alley-weekly-round-up-w10-48bae32e37d8

Q10 Do share with us all the links to NFT Alley, so that our readers can find out more and also follow the development of the project.


Abhijith Dattatreya | NFT Alley: 

Website: https://nftalley.io

Telegram: https://t.me/nftalley

Twitter: https://twitter.com/nft_alley

Medium: https://nftalley.medium.com/

Q11 Lastly our famous question, do you have any alpha or juicy news for us in BSC News today ? any news on IDO?


Abhijith Dattatreya | NFT Alley: Our IDO is scheduled to happen in the next two weeks, we are getting the final details ready :) should be out soon. Just stay tuned at https://t.me/nftalley

Crypto Shrimp (AMA Host): thats a great news im sure thats the fav 'when' question in the tg now

Abhijith Dattatreya | NFT Alley: Hahaha yes! We are all excited about it :)

Crypto Shrimp (AMA Host): Thanks for being such an amazing speaker, and we hope you enjoyed the AMA at BSC News, I can’t wait to see the development of NFT Alley! Wishing you and the project all the best in the upcoming development!

Abhijith Dattatreya | NFT Alley: Thanks for the well wishes and being an amazing host! :) Hopefully we'll have some more cool updates to share with the bsc news community soon!

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