Podcast12 September 2022

AMA with Prom (+rewards!)

G: as Gryazin

F: as Fotis Sach

G: Hey @fosach! Are you here? :) Can we start?

F: Hey guys, absolutely!

G: Let's goooooo! Okay, first of all, could you please introduce yourself?

F: Sure. My name is Fotis Sach and I am a business development manager at PROM.

G: Good, ty. Let's move on! So... could you please describe what Prom is and how you came up with an idea to follow the GameFi path?

F: Recently, we took a turn to GameFi and that’s how Prom you know today was created. Prom is a unified access point to GameFi that includes a gaming NFT marketplace and aggregator, decentralized rental and mortgage, educational block, launchpad, and DEX. Our aim is to unite the diverse NFT gaming community, including gamers, lenders, guilds, and games and provide convenient solutions.

We also invite you to subscribe to our socials. Prom is happy to welcome you in our community!

Prom Website: http://prom.io/
Prom Discord: https://discord.gg/prom
Prom Twitter: http://twitter.com/prom_io
Prom Telegram Chat: https://t.me/prom_io

Prom Telegram Announcements: https://t.me/prom_ann

Prom Medium: http://prom-io.medium.com/

Prom Instagram: http://instagram.com/prom_io_official

Prom CoinMarketCap Gravity: https://coinmarketcap.com/community/profile/Prom

G: good got it, btw thank you for all these links prepared :) now let's continue. so...despite the market conditions, NFT gaming is still getting a lot of attention and establishing itself as a vital part of the crypto space (we even had a stream about gaming NFTs not a long time ago and ppl loved it). And as we know, demand creates supply; thus, we see new gaming solutions entering the market, including rentals. Could you briefly explain why Web3 gamers should choose Prom?

F: A great question! We like to say that Prom is made by gamers for gamers. That’s how we understood what the industry lacks and what new things we can offer to NFT gamers. Here’s what Prom brings to the table:

I’ll explain in detail

1. 100% Decentralized non-collateral rental solution. Among all accessible options on the market, we can say for sure that we came up with the fully safe, convenient both for lenders and borrowers solution. Based on the Gnosis Safe technology, Prom assures the full security of the assets throughout the rental period. Without collateral and third party services.

2. Non-custodial Service. We don’t store anything on the contracts and don’t have access to users’ funds. All the data is stored on-chain, while Prom ensures direct transactions between users.

3. Prom is exclusively gaming oriented platform. We believe that focusing on the exact mission is the key to bringing the best experience to users. Prom specializes exclusively on solutions for gaming and gaming assets. We minimize the time on endless search for the right fit across several platforms and maximize the time for playing.

G: Huh I think Gabe from Steam feel nervous now :D Let's move on.

So...so, so, so. You’re getting close to the launch. Congrats on that! :) The first part to be released is gaming NFT Marketplace (we also had a post on your products, followers can check it here (https://t.me/moni_talks_ru/3633)), so let’s talk more on that. What features will the first version include, and how will the Marketplace evolve in the future?

F: Thanks! We’re really looking forward to the launch ourselves and can’t wait to share the date with you. You’re completely right, we will start off with the gaming NFT Marketplace. After the launch of the first version users would be able to use buy/sell features, list their own gaming NFTs for sale, explore a wide range of assets of the listed games, and, in case of needing any assistance, use Prom’s Help Center.

In contrast to other marketplaces. Prom’s marketplace is designed exclusively for gaming and metaverse assets. That assures finding the right option in a click, without the need to search across numerous marketplaces: Prom’s marketplace works as an aggregator that, thanks to the special proxy contracts, immediately and automatically transfers all the listed games’ orders in one place.

Another great advantage is that Prom does not require complex integration for games: all the aggregation is automatic.

G: Got it, let's move forward? :)

You’ve recently finished your private test for rental. Could you plz, tell us more about how gamers can benefit from this feature and when we can expect the launch of this solution?

F: Rental is the perfect option if you have a limited deposit, just starting to enter gaming or want to try out something new, but not quite sure whether a certain game would fit you. Non-collateral rental allows new gamers to avoid spending a capital to start playing. Our solution makes gaming accessible and less stressful for newcomers.

Talking about the renting process, we made everything as easy and fast as possible. A user just chooses a suitable option based on the game, rental period, and price and borrows a needed asset from another user. The rented assets are securely stored in Safe Vaults and the borrower is free to start playing with the rented NFTs right away connecting the Safe Vault to the game. Once the rental period is over, the asset is automatically returned to the owner.

The solution will be launched a bit later, after we launch the Marketplace. Soon we will share more details on the launch, so track our announcements on social media.

i hope this solution will...hm...improve low banks' lives cause you know...we have a bear market and some of us are not as rich as we were :)

G: ok, so... technologies, yes.

You’ve mentioned Safe Vault technology as the primary mechanism behind the rental solution. Let’s talk more about the security aspects of Prom: how exactly do you provide the security of the assets during this period? I mean the rental period one

F: Our rental and mortgage are based on GnosisSafe, a smart contract wallet on Ethereum that requires a minimum number of people to approve a transaction. GnosisSafe has proven to be the highest security standard for Ethereum-based protocols. We took the trustworthy solutions of GnosisSafe and adapted them to GameFi. Thus, we created Safe Vaults that 100% secure the assets.

Safe Vaults are smart contract wallets whose private keys are fully owned by borrowers. To put it simply: all the rented out assets are stored in Safe Vaults with limited functions that are controlled by smart contracts and predetermined conditions. While an asset is stored in the Safe Vault it could not be transferred to an external wallet, resold, exchanged, or burnt. After the rental period is over, an asset is transferred back to its original owner.

The process is transparent and simple even for newcomers, again, making NFT gaming more accessible with Prom. To become a pro on Safe Vault technology and learn more, check out our Medium: https://prom-io.medium.com/d6aa40bb8a4 (https://www.google.com/url?q=https://www.google.com/url?q%3Dhttps://prom-io.medium.com/d6aa40bb8a4%26amp;sa%3DD%26amp;source%3Deditors%26amp;ust%3D1662747965563581%26amp;usg%3DAOvVaw20QhKDOiiL2J_VFAXXx0w_&sa=D&source=docs&ust=1662747965579723&usg=AOvVaw0qs4bRWuZ_uZy_6rYe-lnB)

G: Got it. so about mortgage...

Prom has a great feature, it is mortgage as you got. Solution suitable for purchasing high-priced assets, especially virtual lands. Is the process of acquiring assets similar to rental?

F: As for mortgage, this feature might be a bit more complex. NFT mortgage works similar to the classic real estate mortgage, but is adapted to Web3. In comparison to rental, by the end of mortgage period, the ownership of the asset is transferred to the user. The mortgage is convenient for purchasing high-priced assets, like virtual lands, for example.

The process is following: initially you only pay a certain percent of the total price, the rest is covered by Prom DAO. After the initial payment, you cover the rest in installments. If you fail to make a payment in a predetermined time, the asset would automatically be transferred back to Prom DAO.

The assets are also stored in Safe Vaults, but once the full price is covered you can transfer the NFT to your external wallet, as the ownership is transferred to you as well. Similar to rental, you can start using the asset right away.

I think by now the difference between these two solutions is clear. Just like in our everyday life, you use rental to try out options, find what suits you best. And you use mortgage to purchase something that for sure would be the right fit. So, everything depends on your goal.

G: it's clear now, yup yup. and...TOKEEEEN!

what about $PROM? What utility would the token hold after the platform launch?

F: $PROM is to become a vital part of our ecosystem. $PROM utility will include:

Half-price fees on the platform while using $PROM as the fees coverage methods.

$PROM can be used as a payment method for the marketplace and rental.

$PROM becomes a governance token: holders can vote on the decisions linked to project’s development. In the future, $PROM will also be your access to our LaunchPad.

G: thank you for the token explanation! so let's talk about the NFT gaming space

it’s getting harder to enter NFT gaming. Gaming NFT floor prices are getting higher, and an enormous amount of gaming projects makes it harder for newcomers to grasp what is happening in the industry and where to start.

So the question is

does Prom also carry out a social mission of some sort and provide assistance to users?

F: It was one of our main missions to make our solutions accessible and friendly to all levels of experience. If you don’t have any experience in GameFi it is not a problem: our platform will feature a detailed educational block with all the guides and articles dedicated to the basics of gaming and crypto.

We are making gaming journey smooth from the very start. We understand that for many potential users exploring something completely new and, for some, technically complicated might be a stress factor and we want to break this barrier. Our private test has proven that even for users who have never used rental before it is not hard to learn the ropes.

We found a combination of how to practically lower the threshold of entry for new users through rental and mortgage, for example, but also how to make the platform useful discovery-wise by introducing new gaming projects to users and providing assistance

G: ok! cause we had a lot of questions from newbies on this topic

so! The last question from my list and i'll ask you some from the followers

Let’s finish the session with a classic closing question: what are Prom’s plans for the nearest future? :)

F: As I’ve already mentioned, we’re really close to launching the first version of Prom. Soon you will be able to benefit from buying/selling options, and list your own NFTs for sale. Step by step, we will be adding more features: rental and mortgage, DEX for metaverse assets and Launchpad for gaming projects.

To track Prom’s news and announcements follow us on Twitter: http://twitter.com/prom_io and Telegram Announcements Channel: https://t.me/prom_ann . It’s the best time to join us, don’t miss out :)

G: yup thank you! also we'll try to cover all great news you provide cause actually for me mortgage looks like a game changer

just 4 more questions from our followers :)

the first one (i didn't change anything):

I am interested in Prom.Education will the knowledge be passed on a free basis or will I have to buy some courses/something similar?

F: It will be fully free, anyone with a desire to learn more about GameFi will be welcome to use our educational platform. Also, we’ll have a variety of materials on the platform, so if you’re starting your journey in Web3 gaming the platform will also be suitable for you.

G: good thank you! I copy the next one:

What conditions must I foillow if I want to offer my work on your platform?

F: Well, as you remember, Prom is made exclusively for gaming assets. If you want to list your artworks or collectibles, unfortunately it won’t be possible. But if you are an individual player and want to list your own gaming NFT for sale or rent: you can use one of our solutions.

In case, if you’re asking whether we collaborate with gaming projects, of course we do! You can contact us for business inquiries and any questions concerning partnerships.

G: ok good! I copy the next one. btw I know you answered but I thought it's better to repeat it

How is the security of NFT leasing secured? Is there a risk of non-return?

F: I think you already have an understanding of how our Safe Vaults work, but let’s briefly recap the benefits of this technology. While an asset is stored in the Safe Vault during the rental period, it can’t be transferred to an external wallet, resold, exchanged, or burnt. The ownership always stays with the lender. We eliminate the human factor, do not require any collateral, thus our solution is 100% safe for lenders and borrowers.

G: ty! and the last one (also, I can predict the answer, but let's do it):

How can I sign up for the closed beta test? What will the user have to learn during this test? What goals does the project set for the beta test? Will it be paid for?

F: Well, our private test for rental is already finished. We’re glad to share that the overall feedback was positive: our participants were able to test out the roles of borrowers and lenders. Our mission was to get a fresh vision on the product. It is extremely valuable for us and our first wave of testers helped us see some parts of the user journey from a new point of view.

But don’t worry if you weren’t able to participate: we’re preparing a lot of other activities for our community. Be sure to participate in them and to do so, track our socials:

Prom Website: http://prom.io/
Prom Discord: https://discord.gg/prom
Prom Twitter: http://twitter.com/prom_io
Prom Telegram Chat: https://t.me/prom_io

Prom Telegram Announcements: https://t.me/prom_ann

Prom Medium: http://prom-io.medium.com/

Prom Instagram: http://instagram.com/prom_io_official

Prom CoinMarketCap Gravity: https://coinmarketcap.com/community/profile/Prom

G: hope to see more activities! Thank you for coming! I hope the Prom project will rise one day :) Have a great evening, Fotis!

Thank you very much for inviting me, it was a pleasure!

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