We would like to express our gratitude towards those who joined the AMA on 12th Jun 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 WalkN comprises of 3 main sections:
1. 5 basic questions from the host to give a brief introduction about the project.
2. 4 questions from community members on Twitter.
3. Live AMA: 4 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?
Hello, this is Daniel, co-founder of WalkN App. I manage tech and partnerships with Francis (co-founder/CMO). I have over 20 years of technology experience in international companies and have led several tech transformation projects in my career and became active in the blockchain sector in early 2015. Since 2015, I've been an investor in several blockchain projects as well as an advocate of blockchain technology and its usage in real world scenarios.
Francis takes care of marketing and ops in addition to partnerships. brings decades of solid experience in building brands and helping companies achieve their ambitious targets - both financials and non-financials. He has professional and educational background in finance and he bought his first BTC in late 2016. Since then he has been using his experience in finance and knowledge of blockchain to help projects design their revenue generating strategies.
We have a total of 15 team members, 4 devs focused on product development, 3 marketing n PR folks, 2 UI/UX guys on front-end, and then our community members. We're also recruiting more people to expand our marketing team to grow awareness of our product. Our team has a combined experience of several decades in tech, blockchain and finance.
More info here - https://walkn.gitbook.io/whitepaper/walkn-app-team
Q2. Let’s give the audience a brief description of what WalkN is. How did you come up with the idea of WalkN? Is it influenced by any special moment or story?
WalkN exists with only one mission - To bring people, fitness and crypto together by building a solid platform that rewards people to take care of their fitness.
Late last year during the boom of p2e games, we're scanning for something new that can be brought to the market. That's when we started looking and came across STEPN. It's a great project. We analyzed STEPN and spotted some improvement which would increase utility and adoption of M2E products. That's how we started building the WalkN App early this year.
It is a M2E product where people can use our app to walk, jog, and run to earn rewards. That's the foundation level. Will talk more about the USPs of our product later in this AMA.
Q3. Could you share with us the current development stage of WalkN?
Sure, we have a detailed roadmap on our website as well as in our whitepaper - https://walkn.gitbook.io/whitepaper/walkn-app-roadmap/project-roadmap please have a look
Q2 is really focused on tokenomics finalization (done), fundraising (on-going), and launching $WALKN - on track to list on PancakeSwap on 17th June. Re product development - app is under internal testing to ensure that there are no bugs or anything before we release to beta testers. We're on track as per our roadmap to launch the app in early Q3. We just finished our first round of testing, and now we're fine tuning UI/UX to make a user journey simple and smooth.
Q3 is all about mainnet launch, improving product in sprints, staking features and in-app marketplace launch. Q4 we’re going to focus on ecosystem growth by integration of multi-wallet, more partnerships, and testing of our unique feature - Rent2Own.
Q4. What are the competitive advantages of WalkN compared to its competitors? How do you plan to differentiate WalkN?
There are many M2E projects in the market but there are three things that we're doing to bring new features to the market.
1 - WalkN will introduce regular sports events in various cities around the world with prizes based on our users' geolocations. Upon launch, we would be able to see user concentration based on GPS and we would use that info to decide locations of our events such as tournaments. This would also give us an opportunity to leverage traditional media to attract non-crypto users globally.
2 - We have a badge system for users where every badge comes with a revenue sharing feature. When a user reaches a certain level after completing tasks, such as participating in X no of marathons or running 100 miles, then users would get a badge with the app. All badge holders at different levels receive an equal amount of reward from WalkN App’s revenue streams.
3 - NFT burning - WalkN is going to take the #M2E to the next level by offering unique in-app features, connecting physical and virtual players, and creating a healthy competition among users! WalkN will strive to build partnerships with physical asset companies in sports and eventually a user can convert their assets through an app from NFT to a physical one, shoes for example.
Q5. Please provide a detailed overview of your token, what are its use cases and tokenomics?
Tokenomics design is a key step in any project. So, we had to revise our tokenomics to make sure that we have a good balance between token inflation and project growth. With that in mind, we reduced our governance token supply from 5B to 3B.
Now, let’s talk about token utility within WalkN App.
WalkN App will have two tokens - a governance token and in-app tokens (rewards).
Governance Token: $WALKN
The WALKN token will be used as a governance token to determine the project's developments by its token holders. The governance token can be either purchased through WalkN's fundraising rounds or DEX/CEX. Upon launch, more WALKN tokens can be earned staking or by using WalkN app for various activities. With staking your WALKN you'll get platform rewards which are collected either via staking platform or the in-app purchases. A user must reach a certain level in WalkN to start earning WALKN tokens. So, with the WALKN token users are able to stake or purchase the in-game NFTs, sneakers, accessories and mystery boxes through the in-app marketplace.
In-game Token: $STEPS
The STEPS token can be earned by simply using the WalkN app while you walk, jog, or run. The activities can be as solo (also free-to-play), social events, or a specific event organised by the WalkN App in your region. The STEPS token can be used to level up your shoes to increase its stats, efficiency, clean or repair them which would increase its output.
2nd Segment: QUESTIONS FROM TWITTER
Q1. Gaming and DeFi are everywhere.Many projects are offering NFT.Explain why #WalkN will be one of the projects that exists and does not perish in this market. How do you retain users/investors on your platform for the long term and how do you keep WalkN leading the way?
We have unique earning NFT features . People can mint NFT using $WALKN token and that can be used in app. NFTs range from Walker to Trainer level with different earning potential.
So this Move 2 Earn, part is the unique here . People can earn both Active and passive income with these NFT collections and earning is the best way to keep people engaged.
To retain users, we'll have real world events globally to engage our community members as well as non-crypto users through our advertisement.
Q2. Today, the number of people cheating on #MoveToEarn applications are quite high. Most people move at certain speeds with their various motor vehicles and earn money. Do you, as #WalkN, work to prevent these cheaters? How will you make people avoid cheating?
Usually projects use only data from mobile phone sensors that's why it's easy to manipulate and cheat. We'll have mobile data complemented by GPS via google maps and physical movement sensor data. With these three points, one can't cheat. They must move to earn rewards. Mobile sensor data + GPS+ movement sensor data to estimate move speed are the things helping us to eliminate cheating.
Q3. Your vision and mission are good, according to the website. However, it requires a significant amount of user traffic to be long-term viable. What marketing plan do you have in place to boost the credibility of your project's brand and enhance mainstream adoption?
We are already tie with 7-8 launchpads to push our IDO and have an army of 100+ KOL from almost every country with good presence is main social media like Telegram, Twitter and Youtube. We almost do 2-3 AMA every week to further get connected with the community and answer their questions live. We have 24x7 moderated Telegram and Discord community as well. Soon we will have banner campaigns in all leading crypto media websites. We already have 100K+ user base and it's growing daily. We understood that market conditions are not good but as CZ says it’s the best time to build when there is no hype in the market . In long term when we deliver a best product that will have usecase then user will keep using it irrespective of market / token price.
Q4. #WalkN's mission is bring people, fitness, & cryptocurrency together by creating a robust platform that rewards people for taking care of their fitness. So,what does your project consist of & what activities does it offer for people to take care of their physical condition?
Like we explained previously. Explained already but using our app, people can walk, jog and run for now. We may add more activities in the future.
It’s an App for running walking activities where you can earn . It’s a #health2wealth mission.
Q5. WALKN - is a web3 fitness app that integrates #MoveToEarn mechanism. Now, many projects out there are somehow based on Web2, and the vast Majority of individuals out there don't yet know about the Advantages of the web3, How will you reach users from Web2?
Web2 to web3 is a journey and we want to make it super easy for our users. That's why we want people to join our app using google, this would make them feel familiar. To reach more users, we would do aggressive marketing of our social events globally to attract non-crypto users.
So, it's a combination of marketing, app rewards and leveraging influencers to help us expand and grow our user base.
3rd Segment: QUESTIONS FROM GROUP
Q1. Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
UI/UX is very important especially in a mobile app. Our goal is to collect users’ heat map on the app that would tell us which areas/options are used most. This would help us eliminate what's not needed and focus on what people use.
Q2. Can we pay a fee or a different token to increase our energy level on WalkN App? How will high energy use be realized on the platform and within the application?
We want to add utility to our tokens so the only way to upgrade or buy energy in the app is using our tokens - WALKN/STEPS. This is to ensure that there is good buying pressure in the market and our tokens have utility within the business rather than just staking.
Q3. Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Anyone can participate here . in launchpads you can go as low as $50 to participate. for NFT also entry cost will be low to high to fit too all pocket size
Q4. Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
NFT can be purchased using $WALKN token only. All tokens raised from NFT sell will be burned forever including any unsold token if any
Q5. How did you get the community involved in developing the project? and how do you build a strong community to grow globally?
WALKN community is key in our growth. We'll be expanding our communities to different regions in different languages. Also, using WALKN tokens users can vote which feature we focus thus driving future developments and agenda of WalkN App.
Additional information about WalkN can be found via:
Pitchdeck : https://drive.google.com/file/d/1JXRs_fmUnNc7k3m_wkkyrSQg-2g0duNM/view