We would like to express our gratitude towards those who joined the AMA on 17th Aug 2022 in the Infinite Launch Telegram group. We appreciate all your support. This is a recap of the entire session, in case you missed it!
Our AMA with Spume comprises of 3 main sections:
1. 5 basic questions from the host to give a brief introduction about the project.
2. 5 questions from community members on Twitter.
3. Live AMA: 5 random questions from our community.
1st Segment: QUESTIONS FROM HOST
Q1. Could you please tell us a little bit about yourself and your team? What are your past experiences?
My name is Kenny Patel and I am the CMO at Spume. I would consider myself a serial entrepreneur with over 20+ ventures in different industries, I’ve immersed myself in social media and the influencer marketing space heavily. I was also a founder in Project Rumor, one of the largest influencer houses in Belair, California. My main forte is to bring a fresh yet disciplined approach to growth hacking and digital marketing. Joining Crypto currency in 2011 I have seen the space evolve into what it is today. Along with witnessing different market conditions and strategizing what it would take for a project to do well in any circumstance it faces, I help steer the marketing strategies for Spume. Through my connections I have a combined reach of 3 billion + and growing in terms of impressions and influence.
Other key members I have to mention that are the heart and soul of this project:
Beauregard Moody- Head of Operations (CEO)
Beauregard is in charge of the overall direction of Spume and oversees all aspects of the project. Over the last five years, he has been involved in managerial roles in four major blockchain projects on Cardano, Ethereum, and Bitcoin. Some of his roles have included: Head of Marketing, Compliance Director, and CEO. With a Bachelor’s degree in Political Science from Pepperdine University, his speciality remains in guiding Spume through the complicated and ever-changing area of regulation and compliance on a global level. By having executive roles in previous blockchain projects, Beauregard brings a multitude of governmental connections and strategic partnerships to assist with Spume’s growth in regulatory, finance, and exposure capacities.
Silas Marvin- Head of Technology (CTO)
Zevin Clark- Head of Strategy (CSO)
Zevin is a young, but experienced serial-entrepreneur having been involved in four successful start-up companies in the last five years. Zevin has had experience in raising over a million dollars for companies that he's helped found and/or partner with. He has also helped multiple companies increase their revenues ten-times over through online conversion optimization while bringing several companies to well over a million dollars in annual revenues. His employee & contractor management abilities have enabled to lead teams of over 50 people. One of his companies has accomplished the feat of reaching national exposure before the product has even been finished. Accumulatively he and his organizations have done a combined $20M in revenue.
Jeff Juker- Head of Relations (CRO)
Jeff is the head of community relations at Spume. Jeff has been involved in the crypto space for years, both personally and professionally, and brings that experience to the Spume team to help make this project the best it can be. Prior to involvement in Spume he held an upper level PR position at a prominent investment firm. Jeff’s undergraduate degree specializes in public health and communication with an emphasis on health informatics and technology from Boise State University.
We also have a total of 17 team members, 12 on operations and 5 full time in-house developers on the technology side.
Q2. Let’s give the audience a brief description of what Spume is? How did you come up with the idea of Spume? Is it influenced by any special moment or story?
The Spume name was chosen for its uniqueness, and some slight word play. The definition is the foam that sits ON TOP of the ocean, or in other words, Spume sits on top of the open… sea.
Now that we have that out of the way.
The Spume Protocol and what we strive for is an end-to-end transactional layer that facilitates payment infrastructure for physical and digital non-fungible token assets on the Ethereum blockchain. The Spume Marketplace is the first D’app to be built on the Spume Protocol. The marketplace allows for the tokenization of off-chain, real world assets like real estate NFTs, and digital licensing. The Spume protocol will allow businesses and brands to issue branded NFTs via their native websites or through the Spume marketplace itself. The Spume marketplace will act as both an issuer and an aggregator for all NFTs issued via the protocol. None of our competitors are building NFT infrastructure that can penetrate multiple off chain industries and provide custom storefronts in the manner we are doing it.
Q3. Could you share with us the current development stage of Spume?
Currently, we are set to have our mainnet to be released before our TGE launch on August 29th on….
Well, all I can say for now is we have confirmation for 2 tier one exchanges 🙂
Here is a glimpse at the testnet, definitely feel free to check it out: https://testnet.spume.io/
Our Web3 music studio testnet is also live, and can be viewed here: https://spume-demo.ampedstudio.com/
With that being said, our mainnet is also getting sharpened to launch a few days prior to the 29th!
Q4. What are the competitive advantages of Spume compared to its competitors? How do you plan to differentiate Spume?
Let me begin by saying that the Spume marketplace is launching on Ethereum, but we plan to be multichain compatible by the end of 2022 on at least four evm compatible chains. We have already announced our expansion to Caduceus, and an unannounced piece of information for you all today is that we are now sponsored by Polygon to integrate to our marketplace as well. Additional future chains include BCS and Moonriver.
Aside from this, I’d like to dive a little deeper into some other facets of Spume that are built upon differentiating from our competitors and bringing ingenuity to the space.
Unscalable branded NFT distribution channels:
The branding/personalization aspect of NFTs stops at the distribution channels. Currently, there is no way to distribute NFTs via a branded channel at scale. Brands/businesses have to either deploy significant resources for custom branded NFT distribution or be satisfied with the branding they can get from the "about project" section on platforms like OpenSea.
On-chain monetization of alternative assets inefficient:
Currently, there is minimal infrastructure to on-ramp off-chain assets on-chain, which makes tokenizing alternative assets such as physical art, real estate, intellectual property, luxury cars/watches, etc., challenging and, at times, almost impossible.
Inefficient liquidity & prohibitive costs:
The NFT market lacks interoperability as it is currently driven primarily by Ethereum and corresponding ecosystem narratives. This leads to the centralization of capital within those specific ecosystems, leading to capital inefficiency and distinct NFT silos.
Q5. Please provide a detailed overview of your token, what are its use cases and tokenomics?
Our Spume token has a plethora of utility that I will explain so get ready!
The Spume token is an ERC-20 enabled utility token that powers the Spume ecosystem collectively. Primarily the token will be used to engage with the Spume Marketplace, however there will be built in utilities available for those looking to directly make use of the Spume Protocol.
First of which is..
Holders of the SPUME Token will have all marketplace revenue in the form of 0-5% of transaction fees be distributed to them prorated to how many tokens they hold.
Users that stake SPUME will have a chance to earn additional tokens via the given APY while also becoming eligible to vote on platform features through the Spume voting portal
Ecosystem-Wide Fee Discount
Fees paid with SPUME across any partner platform including the Spume Marketplace, will be eligible for a discount based on the amount of tokens held within a user wallet
SPUME will power the Spume DAO which will be the governing body that will facilitate all Spume Protocol, Marketplace and all Partner Platform development/ operation beyond 2022
External Vendor Incentives
Fees and/or subscriptions paid by NFT projects, advertising partners, brands using the drag and drop NFT storefront creator in SPUME will be eligible for price discounts along with getting exclusive access to Spume Analytics
I'm sure along the way to the top we will find another expansive utility to add for the community 😉
As far as tokenomics go:
Private Sale Price: $0.30 USD
Public Sale Price: $0.40 USD
Exchange Listing Price: $0.50 USD
Public Valuation: $40M USD (based on projected marketplace revenue and proprietary technologies that have been developed)
TGE Initial Market Cap: $1.2M USD
If you have any questions in regards to this here is a link to our tokenomics for a deeper dive: https://spume.io/#token
2nd Segment: QUESTIONS FROM TWITTER
Q1. Almost 80% of investors have just focused on the price of a token in the short term instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold your token in the long term?
We are a relentless and tireless team (if you look at all we have accomplished before even launching), most of our socials including twitter, youtube, and telegram are all verified. This shows that we are here to stay and plant our flag. Here are some key points in terms of the marketplace as to why we have such an excited, loving and loyal community already:
Revenue Sharing - Holders of the SPUME Token will have all marketplace revenue in the form of 0-5% of transaction fees be distributed to them prorated to how many tokens they hold.
Staking - Users that stake SPUME will have a chance to earn additional tokens via the given APY while also becoming eligible to vote on platform features through the Spume voting portal.
Ecosystem-Wide Fee Discount - Fees paid with SPUME across any partner platform including the Spume Marketplace, will be eligible for a discount based on the amount of tokens held within a user wallet.
We also will have a fully functional DAO that holders will get to be a part of and help make key decisions for the future of the holder owned, community driven marketplace.
Q2. Speaking of partnerships, can you tell us about some of the partnerships you currently have? 2022 is just around the corner, what are the most ambitious plans the project has to achieve to position itself as a solid and profitable platform for 2022?
Two of our more prominent partnerships currently are:
Amped Studio - Music Partner - Building our Music studio along with assisting Spume with NFT Music licensing and royalties
Novelt - NFT Event Ticketing Partner - NFT ticketing service for live events and concerts
Moving forward, more partnerships and onboarding like what we have done with NovelT and Amped will occur in which Spume is not directly building the dapps but simply assisting with integrating them into our already developed tech foundation, this white glove service allowing real world businesses to web 3.0 utilities and capabilities along with the seamless integration of it into our overall business model will set us for profitability and long term success.
Q3. Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and investors to your platform and keep them long term?
Marketing is extremely important to any project web 3.0 or not, and here at Spume we are especially aware of that. With that being said, we have created a 4 phase marketing plan to help amplify and bring awareness to the project.
Here is an overview:
Phase 1: Established Creator Collaborations and Events
Market leading NFT project collaborations through giveaways and AMAs
Cross promote Spume through established NFT and Crypto communities
Alpha groups for reputable brands such as BAYC, Azuki, Crypto Punks etc.
Giveaways on Celebrity and influencer social media pages
Exclusive Spume Mixers and Events for influencers
Sponsor large concerts and festivals
Virtual Live Events and shows
Phase 2: Influencers / Celebrities / Press
Spume is partnering with celebrities, musicians, athletes and big name influencers to help mass adoption take place pertaining to the knowledge and understanding of NFT’s on each blockchain
Press in 50+ articles along with Bloomberg, NASDAQ, Forbes among others
Verification of social media handles
Phase 3: Affiliates Program / Ambassadors
Spume’s executives have extensive experience in building out affiliate programs that work. We will be incentivizing our affiliates for exposure as well as overall contribution to the bottom line and profits. Collectively we have already built teams of tens of thousands of people representing a brand, product and/or vision.
Phase 4: Industry Collaborations
Spume is joint venturing with well established organizations in their respective field of endeavor to ensure we come into the marketplace with a strong foundation. Industry collaborations will not only help introduce each JV partner's community to the blockchain, but also help the organization and the industry as a whole integrate more efficiently with Web3.
Q4. NFT is not just a trend. It is going to rule this decade and innovation has just started. So, is NFT in your future plan?
I’m really glad you asked this! We are actually redefining NFTs through decentralization!
The Spume Protocol will enable anyone to build branded and personalized NFT marketplaces complete with on-chain payment processors while being able to tokenize both physical and digital assets. These can include but are not limited to: digital/physical art and real estate, intellectual property and its licensing, patents, and luxury goods. This opens the Spume Protocol up to all specific industries and allows users to conduct tokenized asset finance effectively and efficiently. Spume sees a future where branding is scalable via distribution channel partners, thus allowing brands/influencers/gaming ecosystems and other industries to implement end-to-end customized & branded non-fungible asset commerce.
Q5. What is the difference between Spume NFT marketplace and other marketplaces like OpenSea etc.? What is the most special feature of Spume marketplace?
Current enterprise NFT protocols such as Opensea are not use case agnostic, but rather hyper niche within their offerings. Spume Protocol enables scalable, multichain token gated commerce that drive loyalty and subsequent revenue generation, while also implementing no-code branded NFT creator, dapp tools and storefronts for brands and businesses via Spume API, branded iframe's & web 2 integrations.
The most special features of Spume:
1. The Spume protocol will house several dapps: NFT Art Marketplace, NFT music studio with royalties and licensing, NFT ticketing for events and concerts, Digital and physical Real Estate tokenization and more. Each one of these dApps will charge transaction fees from 0.5-5%. This transaction revenue will be disbursed equally amongst staked Spume tokens.
2. Spume will help onboard and incubate many high ticket NFT projects. This will be a white glove service that has custom pricing.
3. Ad revenue from the dapps: trending slots, profile sponsoring, etc.
3rd Segment: QUESTIONS FROM GROUP
Q1. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?
Web: https://spume.io (https://spume.io/)
Here are some avenues that you can surely join to stay updated and be a part of the ever growing Spume community!
Q2. On your website you don't mention that you have done any internal or external audit of your smart contract, so can you give us details if you have done any audit before? And in case you haven't, would you plan to perform any review of your smart contract in the near future?
I have just the thing for you! 2 audits, one for our staking and rewards pool and the other for our token: https://spume.io/audits
Q3. Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching this name?
This is one question I hear the most often because it really is such a unique name. The Spume name was chosen for its uniqueness, and some slight word play. The definition is the foam that sits ON TOP of the ocean, or in other words, Spume sits on top of the open… sea.
Q4. How old is Your project? What are the major plans ahead? Could you show us an image of your roadmap?
Our project was started in January and we really took our time building every aspect of it! Here is a link to our current roadmap: https://spume.io/#roadmap
I would say our biggest major plan ahead currently is the launch of our mainnet and then listing on the (2) Tier #1 exchanges.
Q5. Do you have a whitepaper? if yes please share it with us and secondly are you working to AUDIT your project, to make its security more secure and reliable?
Yes we have a whitepaper, and since one of the more recent questions was about the Audit I will instead give you the technical paper as well! White Paper: https://spume.io/wp-content/uploads/2022/01/spume-white-paper.pdf
Technical Paper: https://spume.io/technical-paper
Spume's media channels: