Community Town Hall Recap
Spores held the first Community Town Hall on 26/10 at 1 PM UTC, joined by Duc Luu — Spores Chairman & Co-Founder, Eric Hung Nguyen — Spores CEO & Co-Founder, Gregory Butz — Spores Chief Marketing Officer.
We will look to do these Town Halls as a monthly establishment to keep you updated about Spores’ growth and developments.
What to expect?
Meaningful conversations and direct interactions with our leadership team so you can learn more about our vision, what Spores hope to do and add on to the space, our plans to delve more into NFTs, and more.
If you missed out, tune in for our recap below!
SPO Token Utility
The SPO token is a utility token in and of itself, and one of the core utilities will be the ability to purchase NFTs on Spores Marketplace. Moving forward, the Spores Marketplace payment system will have a percentage of the collections or drops available for purchase via SPO and the balance via other crypto assets. We will also look to do more special releases exclusively for SPO holders and stakers, similar to our previous launchpad Netvrk Land and Transport Sale.
We’re excited to announce that we will kick off SPO Buyback Program. During every business quarter, 25% of the profit from NFT sales will be utilized to buy back SPO tokens from exchanges. Our goal is to reduce the circulating supply of SPO tokens which adds value to SPO token holders. We want to add value and utility to SPO tokens among those who are believers in what we are doing!
To drive positive change to celebrate and foster growth for our community, we will develop a comprehensive Loyalty Program to be revealed to you very soon!
Spores Loyalty Program
- Exclusive access for SPO token holders
- Discount to buy NFTs
- NFT Pre-sale, pre-drop
- Free giveaway of partner drops
- NFT Lottery (NFT Airdrop)
- Platform fee discount
- Exclusive access for NFTs
Operations & Business Development
- Following our marketplace launch, we celebrated the grand opening of Spores first physical gallery in Shanghai, LMG+ Spores → complete a unique and high-end experience for NFTs — combining physical + digital
- Since our launch, we have had an exciting artist lineup: Andrei Riabovitchev, Jeffrey Huang, Umral. We had 3 emerging Chinese artists for China Golden Week. Coming up next: American McGee, Carlos Luna James, Jasper Wong,...
- Gaming vertical: Chain Guardians, Network, Planet Sandbox…
- We’re really excited to announce our latest partnership with multi-billion view franchise ‘Super BOOMi’ to launch its first NFTs collection on Spores Network. Produced by Up Studios and co-invested by Tencent, Super BOOMi is a CG-animated series that has amassed over 5 billion views and topped national TV ratings since its launch. BOOMi is by far the best success story in the animation industry in China, and its founder aims to make Super BOOMi a household name all over the world.
- New Chief Operating Officer — Ruby Nguyen
Moving forward, our community can expect an exciting campaign pipeline of 10+ blockchain games, 2 animation/manga series, weekly featured artist drops, and even our VR gallery — all will be carried out by our Operations team.
New Chief Marketing Officer — Gregory Butz
Greg is currently busy at work helping us identify ways to more closely align our actions to our company vision of being artist-focused and community-driven. There will be many new things rolling out across our artist offerings and communities over the coming months…so stay tuned.
One thing we do want to ensure everyone tries to catch is our next episode of That Nifty Show which will be coming to you. For this episode, we will have Greg on board with us talking a bit more about the exciting things he has in mind for the Spores brand.
- Integrated BSC Ecosystem → slated for Q3 moving to Q4, our SPO token is already lived on BSC, BSC NFT will be coming to our platform in November.
- ERC-1155 implementation → slated for Q3 moving to Q4
- Polygon/Matic layer-2 solution → slated for Q3 moving to Q4
- Cardano testing moved to H1–2022
- Revised development roadmap, marketplace roadmap to be published in a few weeks
🔹 At the moment, Spores just sells others’ NFT. Will Spores have its own NFT pieces, if so, what vertical will it be?
Duc Luu: If you’re a part of our community, you might just saw the PR teaser about Super BOOMi, which is a drop that we’re prepping for so we have partnered with basically an animation studio in China that’s considered the Disney of Chinese animation studios with 5 billion views. The cartoon series is available on multiple channels TV stations in China. The founder and I work closely together and talked about doing another spin-off series for an older market for 2022–2023, so we have actually a multi-year contract to release their product. And with their product, some of that will be Spores x BOOMi but basically, it is actually a partnership drop rather than just like a simple resale drop. We cannot tell you yet but in the first half of November, we’ll release this news out but we’ve got a couple of anime titles that are good they’re ready to go. We’re pretty excited about the anime titles. Both names of the anime and manga community have heard of for sure and so we’re we are going to drop. We have engaged with a few in the entertainment industry, film/television/music but they’re still in the works. Games, we’re very much pro play-to-earn so you’re going to see a lot of NFTs on our marketplace.
🔹 With so many projects in the pipeline, what are your strategies to attract new collectors in very different disciplines: Anime, movie, art, music, and game?
Last quarter Q3, Q4 we took a geographic approach to marketing and user acquisition. What I mean by that is that we’ve spent the last couple of months focusing on building our user base in china and our awareness in China. We hired a top crypto PR agency to do that for those of you who are on those china channels who speak fluid Mandarin you would have seen a ton of stuff coming through. So we’ve done that and we’re going to wrap up China with Super BOOMi. Obviously as a big asset that’s going to come out in a lot of more marketing in the month of November and a couple of other assets in Animation/Anime assets out of japan. We will be shifting our focus in Q4 to Japan because again we’ve got a couple of deals that we’ve signed that are very Japanese so we want to build and dig into those communities as well. By 2022, we’re going to expand back to global crypto. We’ve actually hired a PR firm to take us back to the global market to attract new collectors. It will be a two-pronged approach. First is we go after the fans of those brands or IPs. You’re gonna see very soon in the month of November again through the global PR company that we’re using as well as some other major initiatives that we’re doing in Marketing that we’re going to reach out to crypto users and traders in the US, Europe, Middle East. We’re also bringing on those wallet holders, new collectors to really push for this theme of NFT marketplaces.
🔹 Spores has been referred to as an Asian Centric NFT Marketplace. With the NFT marketplace being a relatively new space and Spores being one of the first cross-chain platforms. Why is Spores looking to niche into the Asian market, instead of the inclusion of the wider market?
Duc Luu: It’s a really really good question. We want to be global and not just Asia-centric. What we’re doing is we are looking at brands that are global, we’re looking at partnerships that are global we’re looking at NFT artists who are global. They may have an Asian flavor to them they could be Asian artists they could be Asian American artists or they could be simply artists who want to break into the Asian market so think of it as we’re Asian-centric in the sense that we’re geographically mostly based here. We are very in touch with the creators in this region and you’ll see that as the kind of content we sign is probably 50–50 between Asia and other markets.
Eric Hung Nguyen: I would like to add to that. I think definitely a very good question. You see the whole market let’s say Animation/Anime has been virtually untouched by NFT so far right and I think those are Asian-centric content but their appeal is global. You can see now with Netflix, they list so many more Asian Animation/Anime. Squid Game is a Korean show but has since become a global hit so far. So it just shows you that the world loves Asian content and it becomes a sweet spot which we can play into, bringing the Asian content to the world.
🔹 What are the biggest obstacles that Spores are facing at the moment?
I’m going to make the argument that’s probably from a technical perspective, I think the biggest obstacle is that we don’t quite scale quickly enough in all departments. The business development pipeline, we’re really big and we win fast. Now it’s about executing, to deliver a product. You know, before it’s a promise, you got a deal, now you go into operations: how to turn those deals into NFTs, how to tell the story of their vision and ideas through marketing, and more. We are very grateful that we got an amazing CXO team on board. We have Greg, our CMO who knows a great deal in terms of scale-up. The tech, I don’t see the tech as much of a challenge we’ll get that right. It’s more of how do we scale our operations quickly enough to meet uh with the success of business development that we have so far and to actually bring a product to our community.
🔹 Will Spores Network look towards investing in NFT projects in order to secure more traffic towards the marketplace and if so, what will you look for in terms of the type of projects and project specifics?
Eric Hung Nguyen: I think that’s a part of our strategy because when it first came out people asked us what makes Spores different. We said at Spores, content is king, we’re like Netflix right. Obviously, with tech, Netflix is great because it allows a lot of people to stream around the world. However, the other half of Netflix is content. What happened with Netflix initially was that they went out and they bid for a bunch of existing content, they bring it on their platform. The second stage of that is Netflix made investment for IP production and rights and with Spores, we will look to do that as well. With Spores Capital, we have already actively invested in a number of projects. Our focus is mainly NFTs and to some extent, we would look at vertical integration, layer 1 layer 2 infrastructure, to the content. We are the natural fit for Games as well. I think it’s quite clear what our mission is, we want to be the place for decentralized pop culture, meaning it has to be on the trending side, it has to be cool, and it has to be entertainment-focused.
Spores Network founders believe that crypto will lead to decentralization of ownership and frictionless redistribution of capital. Their mission is to create an NFT ecosystem that is creator-centric, community-driven, frictionless, and borderless. To that end, Spores has built a cross-chain DeFi-powered NFT marketplace defining decentralized pop culture, sharing NFT content across gaming, esports, animation/anime, digital fine arts, music, and film/TV. Spores co-founders include Duc Luu (Nasdaq IPOed serial entrepreneur ), Eric Hung Nguyen (former senior investment analyst at a top-10-worldwide hedge fund), and a diverse team of advisors across blockchain and entertainment.
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