On January 11, 2021, Bitget held an AMA with Mr. Bryan Lee, founder of Contents Shopper Token. Check out the recap below:
Q1: Can you introduce Contents Shopper Token to the Bitget community?
A: Contents Shopper is a platform where people can trade intellectual property rights using NFT. Like the other NFT marketplaces, it serves digital artworks as well. But it is designed mainly to protect and trade the intellectual property rights that could not be protected by the existing legal system, through the publicity and immutability of the blockchain.
For example, ideas and know-how were difficult to be protected under the existing legal system. We aim to make these into NFTs and trade them.
Q2: According to the whitepaper, anyone can easily implement quant trading strategies through the trading strategy NFT. Could you explain this in more detail?
A: The trading strategy NFT is a special feature of the Contents Shopper. Implementing a quant trading or an automated trading strategy used to require professional trading knowledge and programming skills.
In a market that runs 24 hours a day, 365 days a year like the crypto market, automated trading is more than necessary, but it was hard to access for the public.
In Contents Shopper, professional trading knowledge can be purchased, and the programming skills are pre-built inside the platform. To this end, the public will also be able to access this quant trading technology just by purchasing the NFTs that hold the professional know-how. Simply put, you can think of hiring a professional trader for yourself. And every single trade will be 100% under your control
Q3: What is the difference between copy-trading and the strategy of NFT trading?
A: Copy trading is the full imitation of all trades of a trader, whereas the strategy NFT trading can be applied only to the coins that you want, and the trades are under your control. In strategy NFT trading you do not have to share your trading profits with others because you own the strategy NFT.
From the trader’s point of view, the difference would be that each strategy can be sold separately in the case of strategy NFT trading, so the trader has an incentive to create various strategy NFTs. From the buyer’s point of view, one can selectively apply the strategies to the preferred tokens. In fact, our team also have created and operated a copy trading system in the past.
From our own experience, we felt the need to further develop our previous copy trading system into the current Contents Shopper
Q4: Is it possible to resell the strategy NFT purchased from the Contents Shopper? In this case, do I have to pay a separate fee to the creator of the original strategy?
A: Of course, the resale of strategy NFTs is possible. Anyone who quickly preempts a good strategy will be able to sell it at a premium to others who want it. This will be another small component for the ecosystem of Contents Shopper.
A strategy NFT that gives a 10% monthly return to a person with an initial seed of $1,000 can be said to be worth $100. If the profitability of the strategy continues to be verified through the Contents Shopper chain, there will be others that also want to buy this strategy from the person.
This is because this strategy NFT can be worth $10,000 for a person with a seed of $100,000. Having a lot of resales will strengthen the ecosystem of Contents Shopper and bring continuous profits to those who create the strategies because we are planning to distribute a portion of the sales fees to the creators on the platform during the resale.
Q5: What are your future plans for the Contents Shopper? Any intellectual property rights do you plan to add?
A: We have a number of plans for expanding the ecosystem of the Contents Shopper! First of all, I would like to ask for your understanding that it is difficult to tell you before we make an official announcement.
Contents Shopper is currently under negotiations for adding Korean webcomics that are popular overseas, and facsimile editions of classical materials. The strategy NFTs are not just limited to cryptocurrencies but also can be expanded for use in authentic markets, such as stocks. We will let you know about these updates through our official social media channels.
Q1: Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiration for approaching this name?
A: We aimed to let people trade “Contents” easily, so we named our project “Contents Shopper Token.”
By using CST in the Contents Shopper platform, everyone will be able to trade their own or other people’s contents easily.
Q2: Most users only care about immediate benefits rather than the real value of the project in the long term. How can your project convince users to invest in your platform in the long term?
A: We think that acquiring lots of good Intellectual Properties is the most important thing for us to achieve. Thus, we are currently working with some companies that hold lots of different Intellectual Properties. For example, companies that are related to Webcomics, K-POPs, and classical art materials.
Not only those listed Intellectual Properties above but also we are the exclusive partner of the “CoinButler.” CoinButler is a platform that allows everyone to use the quant trading system. The CoinButler is acknowledged by “Binance,” and “OKEx.” With the acknowledgment, the CoinButler is actively working as one of the official API brokers.
CoinButler is also having meetings with several different main Stock Firms in Korea. If this works out, in 2022 CoinButler users will be able to use the quant trading system on not only coins but also a lot of different assets in the CoinButler.
Q3: How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience working in crypto and non-crypto projects?
A: We have 15 team members, and 10 out of 15 are the developers. Our developers used to develop games, but since 2018 they are working in this blockchain field. Every developer has been working in our company for more than 3 years, which means that all of them are working with a big ownerships. Most developers have 5–7 years of developing careers, and the CTO in our team has 15 years of developing careers. The CTO used to be a developer of one of the biggest companies in Korea.
They have experience in developing Blockchain Casino, DEX, and NFT Marketplaces. With that being said, I’m more than 100% sure that developing, maintaining, and upgrading our system will be perfectly done in the future with our team members!
Q4: Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
A: Yes, we do have a plan to execute Token-Burning to reduce the supply. We are going to burn a certain amount of tokens that are used to publish NFTs in our NFT Marketplaces. The actual amount will be decided based on the number of published NFTs. You can find the burning function in our smart contract.
We believe that this burning function will be helpful for our investors and the platform!
More information regarding Contents Shopper Token:
Contents Shopper Token (CST) is listed in the Innovation Zone.
Trade CST/USDT here: https://www.bitget.com/en/spot/CSTUSDT_SPBL
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