Creaticles is a BSC-powered blockchain platform that helps in making customized NFTs. They also connect buyers and content creators.
The CFO of Altcoin Buzz, Shitij Gupta, anchored the Creaticles AMA session on our Telegram channel with Trevor Keith, the co-founder, and Jonathan Chen, the head of operations at Creaticles. The AMA took place on December 10th, 2021.
Below is a recap of the AMA session with Trevor Keith and Jonathan Chen to understand the company. The AMA was in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to Creaticles
Q – Trevor, let’s start with you. What is Creaticles, and what’s the idea behind it?
Trevor – Creaticles is the world’s first bespoke NFT platform that safely and efficiently matches buyers looking to acquire specific art to talented and curated artists.
Q – How did the team come up with this idea?
Trevor – Jonathan and I are pretty close to our advisors, active members of other crypto projects. They told us they are often looking for NFTs for giveaways and marketing materials, and they have to resort to platforms like Fiverr to find art to mint into NFTs.
We realized there’s no on-chain solution to curating custom artwork in the form of NFTs, and we thought this was a perfect market opportunity. Every crypto project needs art, and we are creating the ideal platform to match artists with these projects and other individuals looking for customized NFTs.
Q – So I can request a nature-inspired formula 1 NFT and order it on Creaticles?
Trevor – Exactly, you can ask our artists to create anything you can think of and describe in words. We currently have over 200 verified artists, expanding by the day.
For anyone here who is an NFT artist, please submit your application to us.
Segment 2: Deep Dive
Information About the Platform
Q – Sticking to the buyers part:
How much do these NFTs cost?
What chain are you using for GAS? because we all dislike gas
Do custom NFTs have resale value?
- You can name whatever price you are willing to pay for the NFT. The more you are ready to pay, the better submissions you will get.
- We are currently on Ethereum (way too much gas) but expanding to layer 2 (Polygon & Harmony) in the next few weeks. Stay tuned for lower gas fees.
- NFTs created on our platform can be re-sold on OpenSea and Rarible.
Q – So Creaticles was listed as an upcoming project within the Coinlist Seed batch list. Tell me how you got selected.
Jonathan – Yea. We heard about this program from our advisors – they highly suggested that we apply for this as it brings recognition to the project and a large audience of investors, partners, and VCs.
We applied as one of 500+ potential projects and were selected as 1 of 8 to present.
Q – Got it, so are you guys launching on Coinlist?
Trevor – We’ve already IDO’ed on SushiSwap (MISO). Our token is out in the public market, with tons of token buyers ready to stake tokens and purchase add-ons like Premium Placement. We’re trading live on Sushi, as well as, Gate.io and MEXC.
Our staking program is going live this Monday. We are giving out 100k CRE8 in staking rewards every day.
Q – Coming back to the custom NFTs. What advantages do Creaticles offer compared to, say, Fiverr or freelancer?
Jonathan – Great question. There are many reasons why our platform is better than the available options.
First and foremost, our platform takes care of everything – from holding and distributing funds automatically via escrow to minting itself.
Secondly, our artists are all vetted thoroughly by our art advising team. They handpick talented artists that are looking to grow in the NFT space.
Lastly, our platform will allow artists to grow their reputation via competition wins and interactions with our platform. Buyers will filter through artists based on what kind of art they specialize in along with their reputation.
Q – Let’s now shift focus to the seller or the artists’ side:
How are you, sourcing artists?
Do you assist artists who have exceptional creative quality but lack NFT knowledge?
How do the artists make money?
- We are sourcing artists via connections in several key global areas and outreach to art colleges.
- Our platform has been designed to be “grandma proofed” since our tesnet. We want to make sure that everyone will use Creaticles without significant blockchain knowledge. Our smart contracts can submit art and mint it for the artist while distributing funds into a connected wallet.
- There are several ways for artists to make money. We wanted to design our platform to be a safe space for artists to grow their reputation while earning money for the hard work, so on top of several contests with our partners such as Axie Infinity, Harmony, Polygon, OneRare, etc., they will also be mining token when submitting art, even if they are not chosen as a winner for the contest. 3.b. Once we roll out DMing and direct commissioning, artists will also bring their followings from outside of Creaticles through our shop with referral bonuses.
Q – Is there any compensation plan for the artists if the NFT is traded in the secondary market?
Trevor – Good question. Since NFTs purchased from Creaticles will be transferrable to all secondary marketplaces, there is an excellent opportunity for artists to have their work sold over and over.
We will be rolling out a royalties feature in the next version of our product. This will enable artists to earn additional revenue every time their NFTs are sold on the secondary market.
Q – Is there a plan for Creaticles to have its NFT marketplace?
Jonathan – We want to focus on being the one-stop-shop curation platform, so for this aspect, we will be (and have been talking to) other NFT marketplaces.
Q – How do Creaticles ensure that the creator’s assets are safe and secure? Also, what happens if I don’t like the NFT that the artist creates for me?
Trevor – Our product is a decentralized app (Dapp) running on the blockchain. This means that funds and NFTs are always custodied by the users. We never hold user funds in a central wallet.
As a requestor, you will choose all the NFTs submitted to select the best one as the winner. If you don’t like any of them, you can re-claim your funds. With all the submissions you will receive, one will likely meet your specific needs.
Future Plans and Possible Benefits
Q – What are some of the big-ticket items in your upcoming roadmap?
Jonathan – We have a lot of fascinating things coming up. We mentioned a few already, such as reputation and DM/commissioning, but some essentials will also include multi-coin payment, voting, and multi-chain support.
Q – What’s the Creaticles CRE8 token utility, and how can the community participate in the Creaticles project?
Trevor – The CRE8 token has multiple utilities across payment for art and premium placement, governance voting, rewards for commission collected, and staking. Our staking program is about to launch this weekend.
Staking users will receive 100k per day of free CRE8.
Airdrops are the perfect use case for Creaticles. Anyone who wants to try their artistic talent at any of our current contests can do so on our platform.
Segment 3: Community Questions and Answers
From this segment, five winners were rewarded with USDT 500.
Q.Twitter – Can each artist set their collectible price as they wish? Or will Creaticles carry out a study and evaluation of the art to establish a maximum price of these non-fungible tokens? thus allowing affordable prices for creators and clients?
Trevor – Artists can choose any art competition to create winning art for. Each contest has its prize visible to the artists. The prize is determined by the requestor. Those willing to pay more for NFTs will get more valuable submissions.
Q.Twitter – What are the ways for your project to generate revenue in the long run? What is a business development progress, and what are some of your commercial partnerships?
Jonathan – We charge a small fee per transaction and are looking to eliminate those pesky gas fees so more casual buyers can use our platform.
Our partnerships include Axie Infinity, OneRare, Harmony, Polygon, Sandbox, etc. These partners (particularly NFT games) will be able to start requesting game assets from our platform along with recurring contests such as a holiday-themed map from Axie Infinity.
Q.Twitter – What happens if a buyer forgets to choose a winner in the contest? Do you foresee a situation where the buyer receives an overwhelming number of submissions for their contest and does not select a winner, what will happen to the funds?
Trevor – If the buyer forgets to choose a winner, those funds will be pooled in a treasury and redistributed to the community. 50% of our token supply is dedicated as “mining tokens” as well, to be used to reward valuable contributions to the platform, such as quality submissions, even those that don’t win. We want to make sure everyone who is participating productively is earning rewards.
Q.Telegram – In Creaticles, will designers be able to freely interact with users who request a custom NFT? Or will they first submit a proposal based on the requirements set in the user’s request?
Trevor – Currently, the designer submits artwork directly as an NFT. In the next version, more communication will be possible so that NFTs can be improved over time. Users will also be able to commission NFTs from their favorite artists directly. This will enable artists to build up their portfolio and attract a particular segment of buyers while earning Creaticles reputation and mining tokens.
Q.Telegram – Creaticles claim to be the world’s first app that lets buyers request any NFTs they want. So can you tell us how easy the platform is for buyers to make this request? Also, in what currency do you accept payment? Can NFT be purchased in FIAT, or do you only accept the native token of your platform?
Jonathan – Great question. The buying process is super easy – you need a budget and a brief description of what you are looking for. We currently support ETH payments on our platform but will be rolling out other ERC-20 payments along with Fiat currencies.
The Altcoin Buzz community gratefully thanks Trevor Keith and Jonathan Chen for participating in the Creaticles AMA session on December 10th on our Telegram channel.
Also, join us on Telegram to receive free trading signals.
Find out more about the blockchain and crypto space on the Altcoin Buzz YouTube channel.