AcknoLedger is working towards becoming an integral part of WEB 3.0 digital assets. They plan to do this by monetizing, mapping, and sharing Web 3.0 digital assets between gaming NFTs and Metaverses.
Therefore, the General Manager of Altcoin Buzz, Anindya (Ani) Baidya, anchored the AcknoLedger AMA session on our Telegram channel with Yash Dahenkar and Kuntal Ganguly, the CEO and CSO of Acknoledger, respectively. The AMA took place on November 16th, 2021.
Below is a recap of the AMA session with Yash Dahenkar and Kuntal Ganguly to understand the latest updates about the company. The AMA was in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to Acknoledger
Q – Tell us about yourself. What’s your background, and how did you come up with the idea of Acknoledger?
Yash – Initially, we planned to focus only on Scientific Research Segment, but we realized our project had more potential than that as we started going ahead. We started focusing on Metaverse and Gaming NFTs space, and the idea of AcknoLedger is derived from Bitgenie Research (a platform created by Yash). Bitgenie Research has indexed and mapped more than 100k+ market research reports across the internet through complete automation.
AcknoLedger is a word derived from Acknowledgement. Whenever you publish anything on AcknoLedger, you get Acknowledgement, and that’s why we call it AcknoLedger. AcknoLedger is a global platform that maps, monetize, and distributes Web 3.0 digital assets seamlessly across all the metaverses and gaming NFTs.
Introduction About Team: All the co-founders of AcknoLedger have worked across various industries and in the crypto space since 2016.
- Yash Dahenkar, Co-founder and CEO of AcknoLedger. He has been in Crypto Space since 2016. Before starting AcknoLedger, he started a company called Bitgenie which focuses on emerging technologies like Blockchain and Artificial Intelligence. At Bitgenie, he created an exciting product called “Bitgenie Research,” He mapped and indexed more than 100K+ market research reports over the internet. Bitgenie Research is the seed to AcknoLedger’s’ idea. He also likes to educate people on Blockchain and Crypto, and to date, he has taught more than 4000+ professionals and students across the Globe.
- Kuntal Ganguguly is the Co-founder and CSO of AcknoLedger. He has managed the strategy and operations of one of the Japanese firms in India. Also, he supports a Silicon Valley-based VC fund. He has been in Crypto Space since 2016 and personally invested in more than 30+ crypto projects as an Angel Investor. In addition, he has a great understanding of how the crypto space works and how to make a project successful.
- Abhishek Singh Rajpurohit, Co-founder and CMO of AcknoLedger. He runs a digital marketing agency, has decades of experience building and scaling brands, & has worked with multiple fortune 500 companies. He knows how to scale the project and take it to the next level. Also, he has an amazing understanding of Digital Marketing and PR.
All the core team of AcknoLedger is serial entrepreneurs and hustlers, and we know how to get things done and make them successful. Our extended team involves a set of genuinely committed and passionate developers, marketers & UI/UX developers, and content creators working day and night to make this project a big success.
Q – What is your current team size, and where are you based?
Yash – Our team consists of around 20 people. We have:
Teck team – five people, marketing team – three people, partnerships and ecosystem team – three people, growth marketing – two people, NFT tech team – two people, community – five people.
We also have an extended team of five to ten people.
Segment 2: Deep Dive
Q – Acknoledger is doing something which was much needed. We have had different NFT Projects, but everybody was working in silos. Acknowledger brings in standardization. You call yourself the “Nervous System of Web 3.0 Digital Assets”. Tell us more about your value proposition.
AcknoLedger is a global platform that maps, monetize, and distributes Web 3.0 digital assets seamlessly across all the metaverses and gaming NFTs. We envision it to be the nervous system of Web 3.0 digital assets.
Acknoledger works on an M2D model.
Mapping assets: Indexing all the NFTs across all the gaming, Metaverse, NFT marketplaces so that NFT collectors can leverage the insights for an informed decision making
Monetizing: Helping existing Web 2.0 and Web 3.0 content platforms to monetize their content as NFTs through our APIs and channels.
Distribution: Marketing and distributing the content across multiple Metaverse by tracking-mapping interoperability and exploring trading opportunities for institutional and retail investors.
AcknoLedger is the aggregator of all the metaverses.
Investors & Partners
Q – Does this mean building partnerships with all these different Metaverses? Which Metaverses have you connected till now?
Kuntal. Partnerships and collaborations are a significant aspect of our development. We are a collaborative platform, and we aim to partner with existing and forthcoming Players in the segments.
Yash – We are backed by 30+ VCs around the Globe. Please find below the names of all our VCs:
Krypital Group, Mahadao, Basics Capital, Magnus Capital, Mayor Capital, Scorpio Vc, Shima Capital, Oasis Capital, Dutch Crypto Investors, NFT Tech, GAIN ASSOCIATES, IBC Mario, Growth Capital, Delta Hub, Heslin Angel investor, Evan Luthara, Amesten, X21, Block Ventures, Moon Carl, Nord Finance, Supraoracles, ReGain Ventures, Synapse Network, AU21, Prostarter, REDhat capital, Kangaroo Capital, Dreamboat capital, KardiaChain, Baselayer, ZBS capital/ crypto differ and 925 venture.
Our VCs are the leading global investment funds focused on supporting cutting-edge blockchain start-ups. It gives us immense pleasure to have acquired the trust of such experienced blockchain investors who take pride in investing in the future with pioneers in the blockchain space.
Apart from this, we are also collaborating with Metaverses and other players in the ecosystem. Here are a few of them: Polygon, Cheersland, Forward Protocol, Enjinstarter, SoccerHub, Bitscrunch, Meta Spatial, PacificNFT, Fusible.
Also, Rogue West Crypto, HowlCity, Rage fan, Monsters Clan, Knit Finance, MahaDAO, DareNFT, Yarloo, and NFTBomb.
More about Segment 2: Deep Dive
We are the first ones to pioneer this technology. We have been doing R&D for the last year, and there will be some exciting news coming soon.
All the other crypto projects can leverage AcknoLedger Tech Stack and save many development and infrastructure costs.
Q – When you get into partnerships, do you do one by one? How do you scale, as the NFT ecosystem is already massive?
Yash – Our approach is: Keep it simple and move FAST, reduce the friction of documentation and keep hustlers in the team.
We have 100+ partnerships in the pipeline, and our goal is to close 1000+ partnerships by the end of next year. We want to capture as much value as possible and deliver fantastic value to our ecosystem partners.
To be the Nervous System of Web 3.0, we need to be aggressive in terms of partnerships. From December onwards, we will start the tech integration.
The UCNS System & What Makes It Unique
Q – Let’s get back to the product. What are the various vital features you are bringing in your product offering to enable you to connect multiple Metaverses?
Kuntal – The most important key element which we are bringing in our product is the UCNS System.
Our Best & Unique Feature: Universal Content Number Scheme(UCNS) is used to create an Ecosystem to map all the NFTs across the Metaverses. It is the World’s first decentralized nomenclature system that will be adopted and used as a Universal Standard. UCNS will be used to verify the authenticity of NFTs across the Digital Universe.
Traditional content identification processes – ISBN, ISRC, ISSN, DOI, cater to specific content and are managed by a centralized approach. There is often no correlation between these identifiers.
UCNS will adopt a decentralized approach to provide a unique identifier for any validated content across Metaverses and NFT platforms. AcknoLedger will collaborate with the current NFT and Metaverse Ecosystem Partners to deploy UCNS solutions to their existing Digital Assets.
Q – What are the challenges you see in implementing this? Or do you find this highly welcomed?
Yash – UCNS (Universal Content Numbering Scheme) can be considered as Decentralized Domain Name Server (DDNS).
Deploying UCNS will be challenging as every project followed a different format when they created their NFTs. There is no universal guideline for NFTs in Metaverses. Every blockchain has its own set of rules.
In phase one, we will be focusing on indexing and mapping NFTs across all the blockchain infrastructures. Once we have all the data, we will release NFT interoperability guidelines for Metaverses. If projects follow these guidelines, their NFTs will be interoperable across all the Metaverses.
Isn’t it cool?
We might launch our blockchain in the future for easy Execution of UCNS as we move ahead, as interoperability will become very easy after that. We are getting some resistance from projects, but we are good at convincing.
Q – I can see on your website features like Lifecycle Tracking and Plagiarism check of NFTs. All these are very exciting. Can you talk a bit about these compelling but straightforward features?
Kuntal – As we envision mapping, monetizing, and distributing the Web 3.0 Digital assets across all Metaverses and NFT marketplaces via indexing and aggregating the players in the ecosystem and then running analytical at later stages.
This will help individuals evaluate, buy and hold assets based on informed decisions such as asset utilities, scarcity, social proofs, yields, staking utilities, lending borrowings, interoperability, and related arbitrage opportunities.
Next, it will open up ecosystem partners to 1000x potential new landscape. It can follow interoperability guidelines and help commercialize its platforms by joint events promotion or say content or asset airdrops campaigns and running ads etc.
In short AcknoLedger aims to be “Google” and “Amazon” for WEB3.0, so we call ourselves the Gateway to WEB3.0 Metaverses.
We act as the nervous system.
Q – What is the utility of ACK Token in this entire ecosystem?
Yash – AcknoLedger plans to create a Circular Economy where $ACK tokens will be used widely across Metaverses. Those who hold $ACK tokens will be eligible to receive NFT and content airdrops.
Below mentioned are the usage of the ACK token:
- Participate in UCNS Governance
- Promotions of Projects – NFT and Content airdrops
- Yield Farming and Staking Rewards
- Listing NFTs on UCNS
- Accessing premium features of UCNS
Segment 3: Community Questions and Answers
From this segment, the five best questions were rewarded with $30 worth of BUSD each.
Q.Telegram – Regarding the system, a flagship feature of your project, which is the first in the World to verify NFT authenticity, have you tested this UNCS system? Because this is the newest system and the first one there?
Kuntal – Thanks for the question. Currently, we are in the development phase, and devs have started working in integration and testing with initial ecosystem partners, which we have onboarded.
We aim to launch Phase one in Q1 2022, and we will push the updates to the community as developments roll out.
Q.Telegram – One of the innovations brought by AcknowLedger is the line of Ackno products, one of them called Ackno Plagiarism Engine. How does it work when analyzing identical or similar NFTs?
Yash – We will map and index all the NFTs across all the infrastructure projects. Once our indexing of NFTs is complete, we will deploy a plagiarism engine on top of those NFTs.
Whenever anyone publishes any NFT already present in the ecosystem, the plagiarism engine will raise a flag. It will also share the plagiarism percentage.
Ackno Plagiarism Engine will be helpful in a lot of other things too. We cannot stop people from publishing plagiarised NFTs, but we can inform them that the particular NFT is already present. This will help a lot of NFT marketplaces and platforms.
A Look At the Future and Profitability?
Q.Telegram – What is the most ambitious vision of the Acknoledger project that you are currently planning? And Do you have Coin Burn / Buyback system or a $ACK burning plan to increase token value & attract investors to invest?
Yash – Our goal is to become a Google and Amazon for Web 3.0 digital assets. Also, we are in the product development stage, and phase 1 of the product will be launched in Q1 2022.
Our goal is not to control the whole Metaverse space but to empower all the Metaverses to reach their full potential by cross-marketing and community engagement.
We might launch a token burn or buyback mechanism once we launch our product goes live.
Q.Telegram – what are the ways that generate profits/revenue to maintain your project, and what is its revenue model? How can it make benefit win-win to both investor and your project?
Kuntal – Great. As said, ACKNOLEDGER aims to create a Circular Economy along with native ACK utility. I hope you have gone through the utilities we mentioned.
As we proceed, we will deploy B2C and B2B MODELS for our platform. An investor owning ACK will be multi rewarded whereas B2B engagement will generate revenue for the platform by building cross-community arrangements between Metaverses and loading joint promotions collaboration ads and many such monetizing proceedings.
Q.Telegram – When indexing NFT, will you create a way to rate the NFT based on the expected value in the game? As well as info like rarity, especially for limited NFT collections.
Yash – We will not be rating the NFTs as we don’t want to be biased. We will show all the data as it is to the users and let them make the decision.
The features like utility, rarity, interoperability, social proof, etc., will be shared with the users for informed decision-making instead of buying the NFTs based on hype.
The Altcoin Buzz community gratefully thanks Yash Dahenkar and Kuntal Ganguly for participating in the Alkemi AMA session on November 16th on our Telegram channel.
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