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Wondera x Crypto Challengers AMA Recap from the 3rd of November

AMA is starting. Chat is closed ❗️

Good day everyone and welcome back to Challengers for another wonderful AMA!

I hope you’re ready for another great AMA :)

Today, we have Bill to share us more about WONDERA !

HI Good morning everyone. Thanks for inviting me on, love to share some information about our project.

Hi I am Bill, co-founder and CEO of the Web3 social entertainment platform WONDERA, which rewards user for singing and creative performances. My personal background has been in investment banking and entrepreneurship. I have been in the crypto/blockchain space since 2018, mainly as an investor and trader.

I am live in New York city where our main office is located.

Bill: Sure! I think the main difference between us and other similar project is that we are designing our tokenomics to be sustainable, and our product to be ready for mass adoption.

For instance, our app uses a freemium model, new users do not need to buy an NFT to start their journey nor does the app require users to have or create a self-custody wallet to enter

User can start playing, singing and socialize right away and earn their way to free mint an NFT which will allow them to earn token rewards on the platform. They can also buy one to save time and efforts. It’s only when they need to withdraw token rewards, they need to create a wallet which will be integrated within the app.

$WONDER or WDR will be our main utility token. User earn WDR can be spent on buying NFT on Wondera store, to make upgrades and repair, and pay for various fees on the platform and to tip other users for their contents

WDR is also used to pay for advertising on our platform which creates external demand for the token.

$VOICE is envisioned to be our governance token which will give user a number of decision powers within the platform, other benefits and will be limited supply. We plan to release more details within the whitepaper before public beta launch

Thankyou Mr. BILL for the well detailed explaination about $VOICE and $WONDER.

Can you share the achievements the team has made so far ? what are the major achievements that are yet to achieve . If possible also share your roadmap.

Sure, We started the project in July of this year, have raised pre-seed funding from a number of Wall Street executives, Web3 investors and entrepreneurs who are friends of the founding team. We are completing the MVP product next week and plan to start a small internal testing for the rest of Nov. We are also working on our branding and about to be done soon as well, then our website to be release later this month. Our NFT designs are done as well, and they look amazing. The team has been working tirelessly on product development, designing better and sustainable tokenomics, as well as working with artists and singers to support Wondera. There will be another around of closed product testing which the general public can start participating in Dec

We have kept our public profile low so far because we want to make sure we can develop something really good. We don’t want to promise the moon and then can’t deliver. We don;t want to launch another project to go up and down very fast. We want to build some of an example which is of our best intention and efforts

A product what is fun, open access, rewards its own users for their valuable behavior with real yields and also our early supporters with special rights and advantages

Our public beta launch and testing is planned to be in Q1 next year.

Sure. The Wondera app is centralized, our tech team used to work for centralized crypto exchanges, so we are pretty confident on the centralized part. Our app will integrate a decentralized wallet developed based on the Metamask code, user can use the self-custody wallet to store much of their assets or earnings.

Our token will also be supported on multiple chain, user will be able withdraw to multiple different chains similar to a centralised exchange’s account wallet

We also have very experienced smart contract developer within the team who had built large defi projects in the past. All contracts will also be reviewed by securities agencies prior to launch. Since we don’t do decentralized bridge that also avoids a lot of risks

Wondera plans to rewards it’s early community and users in many ways. For instance we have some special NFTs planned for early community to free-mint (rules to be revealed soon) and to free mint a number of NFT microphones by singing in the private beta testing

Early users will also be able to help vote on many early decision for Wondera within the community

and help shape our path and to be rewarded NFT, tokens and others for their participations.

The utility token will not have a supply cap but it inflate progressively based on platform revenue generation and user growth. Since we use reward pool model, user competes to get bigger share of a fixed pool which replenished periodically, it is not possible to hyperinflate. It is our intention to keep the value to the utility token fairly stable even with appreciation over time, rather than the big pump and dumps which are rampant in the industry. The trick to this is external revenue or demand for the token, in a super simplified model, let’s there are two users each purchased our NFT microphone for 100 dollars then there are 200 rewards, but since their are other revenue such as advertising, fees and user social spending, the pod will be $300, everyone can makes more rewards then they put in. Obviously there is also user growth, but it’s an oversimplified explanation that our model can provide real yields, it’s not a zero sum or negative sum game between users

Regarding the governance token, we will released more details in the future since it won’t be launched right away. We want to get the app and economy well tested first. But I can say that it will be of industry best practice, most will be reserved for protocol development.

COVID 19 has accelerated crypto adoption imo, I think it has been overall non-negative for the crypto industry

We are on track in our development. That said, it’s much easier to copy past than it is to innovate even small amount, so I hope that community can be patient with us.

(1) Our freemium model: we have two types of NFT microphones, one called Mockphone which is freely airdropped to every new users, and Wonderphone which users can buy or earn with lots of efforts. This allows us to keep lost barrier to entry and accommodate web2 users to join, and to allow users who can’t afford an NFT right away to play and progress based on merits, (2) singing is fun and produces lots of contents which allows our platform to sell advertising to generate external demand for its tokens, (3) Wondera has a very well round team, from crypto exchange Huobi, top music industry veteran in Asia, ex-executive of Tiktok and a strong and fast tech team

In terms of features, user will discover lots of new music from quests and challenges, and be able to make friends and get fans and be rewarded in social settings

We are releasing the first iteration of our Litepaper as well, more features will on there

That’s great that you are allowing web2 users to join your platform with no investment :)

Our goal is to onboard the next millions to web3

HUGE!!!

And the platform should be a meritocracy

The name “Wondera” Sounds interesting

It is a combination of wonderful, wonderland and pandora

So, Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?

We want the platform to have broad audience, to be come a leading social entertainment platform, and to represent something

a new world, an ideal

We say Walala for hi, and we call our users Wonderans

To sing in front of others, one needs some confidence, because no one is good from the beginning, so to be a singer is also to be shameless, like Elvis Presley

As mentioned earlier, Wondera is composed of a well round team from Web3 industry, the music entertainment industry and social media companies such as Meta and Tiktok

We are geographically located in the US, Singapore/KL, and Lisbon

I think the key is to build a great app that user loves to use with or without the rewards, many projects in gamefi and socialfi focuses solely on the earning aspects, rather than core experiences. I think to be successful, we need to provide users with great experiences first. Our goal is to control inflation in a way that is below the rate of user and token spending growth, so that it can slowly appreciate in value

We will provide use cases for the token especially within social settings and with third parties, and provide liquidity incentives to liquidity providers. One of our co-founder was from the listing team of major exchange, so we have that part covered with lots of industry connections as well

Great question. we are very happy there are many projects in this space. it really shows that there’s great potential.

Our team are very experience and very well rounded. We are international and well connected in the music/entertainment space. There would be many exciting news/collabs and exclusive music and contents coming up. Also we want to build a sustainable model which many of the other competitor projects are not thinking about. I think we will be here to stay while many won’t be here for long.

That’s end of our Twitter segment

Thanks for answering all the questions from Twitter!

Q1 from Telegram user — @laaf0

We are currently designing a system where we will rewards points for any community contribution and the points will grant you free mint access to exclusive NFT which then you will get beta test whitelist spot to win real reward pool and airdrop, in app benifits etc. We will be releasing the rule in our group in the coming days. stay tune!

Because of the nature of our product — An entertainment platform. If the product is fun people will sing through bull and bear market, with some countries still in covid lockdown. I think wondera will be a good platform for these people to play, have fun while making cash. It will help us expand on the adoption.

Bill: Currently there are two events we are currently hosting. first one is the singing contest which we will select the wondera idol and winner wins $500 rewards plus access to beta test. Second is that we just release our litepaper and have a quiz gleam campaign for reward. We also have a lot of exciting events to come

Q4 from Telegram user — @Shakil2799

Bill: We have a very diverse team. We have serial founder. Another founder has 20 years music entertainment experience in the industry and another seasoned founder from crypto exchange background plus many advisors, Including wall street exc, major star music producer, high level partner from tiktok, marketing director from famous film etc

Q5 from Telegram user — @john561

We will support many languages

We currently have a music library of over 100K songs and has song tracks in English, Mandarin, Korean, Thai, French and spanish

5/5 ✅

And that’s the end of our Live segment! Thank you for those enlightening answers for the community ❤️

It’s time for Wrapping Up, any other things you want to share with the community? Bill :)

Thank you for listening, please check out more information about our project in our community chat. We will release more details going forward including how to get access to our early supporter NFTs and how to participate in private beta

we are not setting a specific date yet, but currently shooting for Dec and Jan, there may be two rounds of beta event

there will be token rewards as well as NFT drops to top users on the leaderboards

Thanks for attending the AMA ❤️

Chat if you still have some doubt or questions please head to Wondera’s Telegram Community to ask questions:

On behalf of the Crypto Challengers Community, we would like to thank you Bill :)

Thank you so much for spending time with our community & all the very best for “Wondera”! 🚀🚀🚀

Thank you so much! Goodluck to Wondera 🚀

AMA Concluded.

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