{"id":11551,"date":"2021-08-18T22:19:28","date_gmt":"2021-08-18T19:19:28","guid":{"rendered":"https:\/\/esatoshi.club\/?p=11551"},"modified":"2021-08-18T22:19:31","modified_gmt":"2021-08-18T19:19:31","slug":"highstreet-x-satoshi-club-ama-recap-from-16th-of-august","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/08\/18\/highstreet-x-satoshi-club-ama-recap-from-16th-of-august\/","title":{"rendered":"HighStreet x Satoshi Club AMA Recap from 16th of August"},"content":{"rendered":"\n

Welcome to another episode of our AMA\nseries. Today we are glad to tell you about the AMA session with our friends\nfrom HighStreet<\/a>, the bridge\nbetween virtual worlds, real life and web. The\nAMA took place on August 16 and our guests was Travis Builds.<\/p>\n\n\n\n

The total reward pool was 500$ and was\ndivided into three parts. In this AMA Recap we will try to summarize some of\nthe most interesting points for you.<\/p>\n\n\n\n

\n\n\n\n

PART 1, INTRODUCTION AND COMMUNITY\nQUESTIONS<\/strong><\/p>\n\n\n\n

Gold Rocket | Satoshi Club: <\/strong>Hello again, dear Satoshi Club\ncommunity! We are pleased to announce AMA with HighStreet. Today our guest is\nTravis Builds.<\/p>\n\n\n\n

Travis Builds:<\/strong> Hey guys.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Let’s start! Introduce yourself please. How did you get to be\ninvolved in crypto & HighStreet?<\/p>\n\n\n\n

Travis Builds: <\/strong>So\nthe story of HighStreet is a little more interesting, my background is in\nComputer Science and I met my co-founder in Draper University @San Mateo in\n2015 where we founded a traditional equity based VR company called LumiereVR.\nAt Lumiere, we use our computer vision technology to help brands and retail\ncompanies turn underutilized real estate into mixed reality experiences. Since\nour inception we\u2019ve built and picked up a few entities along the way. We have\nan award winning studio arm backed by Sundance Festival that consistently\npushes the boundary of Art and Tech, in fact, last year, my co-founder produced\na piece that won an Emmy. In 2018 we also acquired a data analytics company\ncalled Retinad Realite Virtulle based in Montreal. Incorporating their gaze\ntracking software into our metaverse allow brands to receive consumer behavior\ndata in real time. How long a product had been interacted with, how many times\na logo\u2019s been seen, every piece of information is natively picked up and\nprocessed for brands to help improve their customer experience.<\/p>\n\n\n\n

At the same time as the company’s founding back in 2015,\nI’ve started to invest into Crypto. From BTC and ETH to being one of the\nearlier buy-ins to the NEO and QTUM ecosystem during the ICO boom. I’ve seen\nthe rise and fall of cycles, re-invested back in during DEFI summer where I got\nto meet and co-invest with a bunch of great people on our cap table today. As\nthe pandemic aided in the growth of our digital retail business and the NFT\ncraze further edged a lot of our customers into the blockchain space, we\nrebranded the company as HighStreet and replaced our whole back-end\ninfrastructure with smart contracts.<\/p>\n\n\n\n

HighStreet is essentially shopify on an MMORPG game, it\nallows various brands from HIGH fashion to STREET wear to easily launch their\nown virtual shops in our metaverse. The game itself is inspired by some of our\nchildhood classics, from Maplestory, Avatar the last airbender, Treasure\nPlanet, and One Piece. From a user\u2019s perspective it should feel just like any\nother MMORPG game, with monsters to fight, quests to complete, with the only\nexception that the shops within the world are very much real products from real\nbrands and that it\u2019s built with native VR support.<\/p>\n\n\n\n

Gold Rocket | Satoshi\nClub: <\/strong>Tell us about the benefits of HighStreet. How is it different from\nothers?<\/p>\n\n\n\n

Travis Builds: <\/strong>So\nwe’ve built the project from the ground up obviously with a lot of nostalgia in\nmind but here are some points that we usually highlight as our\ndifferentiators.  <\/p>\n\n\n\n

  1. We are building an MMORPG built from the ground\nup to support VR natively <\/li>
  2. We are integrating real brands and real products\ninto this world<\/li>
  3. We don\u2019t sell land, but sell real estate in\nforms of Condos, Villas, even castles <\/li>
  4. Every Product in the game is phygital meaning\neither you can redeem it for a physical product, or they\u2019re fractional NFTs\nthat allow you to pick either to buy just the digital component or the entire\nphygital pair <\/li>
  5. Our limited edition product market uses a\nbonding curve that automates price discovery for new brands as well as\nguarantees liquidity for buyers.<\/li><\/ol>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub:<\/strong> Which MMORPG inspired you to create High street?<\/p>\n\n\n\n

    Travis Builds: <\/strong>So\nI’ve played a lot of Maplestory Growing up, and the idea of the free market\nthere itself was my first intro to commerce I would say. A lot of our\ncolleagues on the team is the same way with a lot of WOW players and early\nrunescape players as well. I’d say all of us are very big fans of open world\nexplorations as well from BOTW to Skyrim, Witcher 3 to Assassin’s Creed. On the\nSci-Fi side our big inspiration definitely also come from Ready Player One (the\nbook!) and Sword art online.<\/p>\n\n\n\n

    Gold Rocket | Satoshi\nClub: <\/strong>Also we would like to know more about your team. Who is on the\nproject team core?<\/p>\n\n\n\n

    Travis Builds: <\/strong>So\nthe team’s been working together for over 6 years now since our founding in\n2015. Jenny, my co-founder and I met during our time at Draper University, her\nart background at Sotheby’s and my Tech background made a perfect match in\nstarting a new type of VR company catering to brands. We’re later joined by\nvarious other characters as well, from corporates like Mckinsey, to blockchain\nprojects like NEM, from alt asset collectors of the traditional kinds to NFT\ncollectors. The team is approaching40 now rapidly, and over the years it’s\nbecome quite diverse. The core values haven\u2019t changed though, all of us are\ngamers!<\/p>\n\n\n\n

    https:\/\/www.youtube.com\/watch?v=wsogJArDhek&t=4s&ab_channel=HighstreetMetaverse<\/a>\nHere’s a video of our Crypto Lounge, where heavily inspired by ready player\none, users can load up their $high tokens and trade natively in crypto with VR.<\/p>\n\n\n\n

    Q1 from Telegram User\n@andrey_seleznov<\/strong><\/p>\n\n\n\n

    Hi HighStreet Market!<\/em><\/p>\n\n\n\n

    I am intrigued by the\nconcept of hybrid products that you advertise on the website. Not all will\nagree that we live our life half online and half in real life. Your market will\noffer products that are crafted to exist both in physical and virtual form and\nalways come straight from the brands. Do you estimate this approach will work\nequally well for both crypto holders as well as people who never owned a token?\nWill such products potentially be able to introduce new users to the crypto\nspace via granting them virtual copies of the physical goods? And lastly, what\nare the main benefits you consider this hybrid products system brings?<\/em><\/p>\n\n\n\n

    Travis Builds: <\/strong>Hybrid\nproducts, or what we tend to refer to as Phygital Products are where we can\nbegin to merge the digital and the physical world together. We primarily have\ntwo types of Phygital Products that will be sold on HighStreet.<\/p>\n\n\n\n

    On our limited edition product market place:<\/p>\n\n\n\n

    This is based on Ethereum, and when someone makes a purchase\nthey receive an ERC 20 token representing the Product itself. When redeemed\nthis product token is burned and the physical redemption process begins where\nthe Brand will receive an order from their back-end ecommerce system. This\nmarket place is geared towards newer brands, perhaps started by influencers.\nThe bonding curve is automating price discovery for them, while guaranteeing\nliquidity for the buyer. Since all Deposits are stored in a smart contract\n(besides fees), it makes it easier for newer crypto users to buy with\nconfidence.<\/p>\n\n\n\n

    Regular products purchased in game:<\/p>\n\n\n\n

    These are regular items that brands sell regularly, they are\ntokenized as NFTs and will be on the Solana system. When users purchase these\nproducts they are sold in fractions. The first fraction is usually relatively\ncheap and contains the digital item only that can serve other in-game\nfunctions. If a user wants to acquire the physical component, they purchase the\nother fraction and the redemption process will begin where brands will receive\nan order from their EC system. The first fraction is essentially pure profit\nfor brands.<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>Could you share us the most important physical products in the\nplatform? Maybe some pics of it or links to check it.<\/p>\n\n\n\n

    Travis Builds: <\/strong>So\nthe limited edition product market place will launch a couple days after our\npublic sale (planning for Sept). We will make announcements soon!<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>Can we redeem weapons, clothes, things like that?<\/p>\n\n\n\n

    Travis Builds: <\/strong>yes,\nto all, some products that are real, for example a lipstick from a brand may\nvery well be a sword in the game. By adding special in-game features to real\nproducts we can create a better connection between brands and users.<\/p>\n\n\n\n

    Here’s another clip captured from within a VR headset. Here\nyou can also see a bit of HighStreet City out the window \ud83d\ude09 https:\/\/www.youtube.com\/watch?v=LnI4_oVLWzA&ab_channel=HighstreetMetaverse<\/a>\n<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>Awesome, which tools are needed to join the world? Oculus rift? HTC\nvive?<\/p>\n\n\n\n

    Travis Builds: <\/strong>at\nthe beginning we are supporting PCVR (Quest (2) with Link, Rift, Vive, Index) etc.,\nof course you can opt to play with Keyboard and Mouse as well, but we are\nhoping to slowly convert everyone into one of us ha! Early next year we’re\nworking a release for companion apps on mobile and browser where you can take a\npart of the met averse to go. Maybe you\u2019re in-game real estate, you can buy\nproducts for and decorate it on your way to work.<\/p>\n\n\n\n

    here’s another look at a limited edition space lounge that\nwe will be selling soon as well https:\/\/www.youtube.com\/watch?v=_wmsXFqGQ68&ab_channel=HighstreetMetaverse<\/a>\n<\/p>\n\n\n\n

    Q2 from Telegram User\n@yellowchamp<\/strong><\/p>\n\n\n\n

    According to your\nwebsite that as we already live our life half online and half in real life. The\nproducts on your market are crafted to exist both in physical and virtual form\nand always come straight from the brands. So as the products on your market are\ncrafted to exist both in physical and virtual form, what would be the\ndifference between the physical and virtual form products especially in terms\nof quality? Why do you need to sell some virtual form products if the physical\nform product is available? What will be the use of Virtual form products? How\nit can be utilized? Does HighStreet has any marketplace where we can access\nboth the physical and virtual product of your platform? As you say that those\nproducts are straight from the brands, so can you tell us what kind of products\nare available in your marketplace for both physical and virtual form? Thank you<\/em><\/p>\n\n\n\n

    Travis Builds: <\/strong>When\nyou get the digital component of the product, your avatar gets to wear\/use it\nin the metaverse. Some products have special features (E.g. Umbrellas that let\nyou fly or glide, pants that let you walk faster), when you redeem for the\nphysical product. The actual umbrella or pair of pants will be shipped to you!\nQuality wise will be similar to all the footages I\u2019m showing today. I would say\nselling real products as in game items create the value of the digital\nproducts. If the Product themselves is just a 3D representation of the physical\nproduct, then there would not be a point to it. Hence why we do have an entire\ngame behind HighStreet!<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>What payment methods do you accept?<\/p>\n\n\n\n

    Travis Builds: <\/strong>At\nthe beginning we support ETH\/DAI\/$HIGH, eventually, it will migrate to purely\n$HIGH. We do have on-ramp integration so credit card for items < $500 will\nalso be supported.<\/p>\n\n\n\n

    Furthermore, for the brands, when certain physical products\nare tied into a game, you augment the utility this product can provide. A shirt\nis a shirt in real life, but in game a shirt can be a piece of armor. By\nSelling phygital products as fractional nfts where the first fraction is\ndigital, you open up a new stream of revenue for the brands that hasn’t been\nexplored prior.<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>I think that is great for collectors to have a unique edition of\ntheir favorite item.<\/p>\n\n\n\n

    Travis Builds: <\/strong>I\nwould say there are different ways to look at it, the digital collection era\ndefinitely helped ushered in a lot of people who collect digital arts and nfts.\nI think for limited edition products especially this could be super valuable. However,\nI do know a lot of people still, especially those who are a bit foreign to the\ncrypto culture, tend to still prefer physical products. Hence why we make all\nour items redeemable.<\/p>\n\n\n\n

    Q3 from Telegram User\n@victorogb<\/strong><\/p>\n\n\n\n

    HighStreet which is a\nrebrand of Luminiere VR and the first commerce-centered Metaverse, recently\nlaunched on BullPerks; August 14th 2021. HighStreet hopes that it\u2019s launch which\nruns till Wednesday 18th August 2021, will open its futuristic marketplace to\nusers satisfying their gaming, shopping and commercial desires. As a matter of\ninvestor and shopper preferences, can you carefully provide us details of your\ncurrent BullPerks event, why did HighStreet choose BullPerks as its preferred\nlaunch platform, and what are the added incentives from members of both\ncommunities, and what sort of partnerships would HighStreet consider as project\ndevelops?<\/em><\/p>\n\n\n\n

    Travis Builds: <\/strong>BullPerk\nto me is a really innovative project lead by very experienced people. They are\na decentralized VC that distributes the allocation provided to them to their\ncommunity. The tokens purchased there are locked up the same way our\ninstitutional investors are. This provides confidence to me as a founder\nbecause with more investors sharing the allocation, its less likely they will\nall dump at the same time. So to clarify this is not a public sale like those\non Polkastarter and Miso. we are working on partnerships beyond brands for\nsure!<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    HighStreet consists of many islands each owned and run by\nbrand or partners.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    Here’s a quick mockup for example of an island we’re\nbuilding with FlamingoDAO. each island will have residential areas; each island\nwill allow for brands to launch stores onto. Residences of each island will\nalso have special privileges granted by the Island owners, so lots of\nopportunities to play to earn.<\/p>\n\n\n\n

    \"\"<\/figure>\n\n\n\n

    Here’s our concept of Republic City on Realm Island.<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>Wow, a big world.<\/p>\n\n\n\n

    Travis Builds: <\/strong>it\nwill constantly expand as well! We are working with a few game companies as\nwell to build in portals from islands that will connect to other game worlds.\nBut that is a very difficult technical challenge. So aiming maybe for the first\nbridge to open end of year next year.<\/p>\n\n\n\n

    Gold Rocket | Satoshi\nClub: <\/strong>I never cease to be amazed at how deep your project is.<\/p>\n\n\n\n

    Travis Builds: <\/strong>Ha-ha\nIt\u2019s been a dream of the team, and a work in progress bit by bit over the past\n6 years. Every brand we work with; we essentially build a little piece of the\nmetaverse along with it.<\/p>\n\n\n\n

    The way users move about from island to island uses\nsolar\/steam ships. From individual sized ones like this one to full own\nbattleships. They all fly!<\/p>\n\n\n\n

    Gold Rocket | Satoshi\nClub: <\/strong>Are you personally the owner of a portion of the metaverse?<\/p>\n\n\n\n

    Travis Builds: <\/strong>Umm\nI think this is a bit of a tricky question, our metaverse differentiates from\nsome of the other projects by being a bit more centralized to begin with. That’s\nbecause in order to maintain a level of quality we have to build professionally\ngenerated assets. However, down the road 3D modelers for example can propose to\nhave a new statue or art integrated on an island, and the residences of that\nisland can vote to either have it included or not.<\/p>\n\n\n\n

    So in general, although our core team has a lot of control\nover the metaverse at the moment from bringing in brands, crafting islands, and\nbuilding cities. Eventually it should transition into being in the control of\nour users adn residences.<\/p>\n\n\n\n

    Q4 from Telegram User\n@bigboicity12<\/strong><\/p>\n\n\n\n

    Virtual reality is\nreally a \u201creplanted land\u201d with more applications and better development in\ndifferent fields and industries of society. Highstreetworld is building virtual\ntechnology (VR) for Artists, Gamers, crypto enthusiasts. Currently NFT and\nGameFi are growing very fast, will Highstreetworld face any barriers when\nentering this market? What is your plan to exploit the full potential of the\nmarket? I don\u2019t know if the Highstreetworld platform is exclusively for gamers?\nWhat about non-gamer users? Can they still generate income even without playing\nyour game? If so, what are the other possible ways?<\/em><\/p>\n\n\n\n

    Travis Builds: <\/strong>Yes,\nVR is a new opportunity for a lot of traditional industries. For Retail, it allows\nthe creativity of brands to sing once again without the constraints of physics\nor expensive building costs, bringing the joy of brand discovery and shopping\nas an adventure back to a world dominated by fast E-commerce checkouts.  We are absolutely involved with the NFT and\nGameFi industry, we have a proof of play mechanism that allow players to earn\n$HIGH tokens by completing daily quests, we have sponsored quests from brands\nthat allow players to complete certain branded tasks to earn even more tokens,\nand of course our real estate components are another method for both brand\npartners and users to earn more by playing!<\/p>\n\n\n\n

    Regarding non-game users, you can simply buy and sell\nproducts on our market place on the browser to make money! If you buy limited edition\nproducts, it\u2019s a really easy bet, if one more person buys the product after\nyou, you would’ve made money in theory ha! We also have mobile companion apps\ncoming out for those who don’t have a PC, this not only allow non-core players\nto provide more content for actual VR users, but also potentially serve as a\ngateway into our world that will convince them to one day buy a PC Rig.<\/p>\n\n\n\n

    Andr\u00e9s M. | Satoshi\nClub: <\/strong>Thanks for the answer, after proceed with the next question I would\nlike to ask if there are more ways to buy $HIGH tokens?<\/p>\n\n\n\n

    Travis Builds: <\/strong>There\nare plenty of ways to earn $High tokens, obviously the exchange is one place!\nOtherwise:<\/p>\n\n\n\n

    1. Fight monsters and earn $HIGH from their drops\nlike any open world game.<\/li>
    2. Complete Daily Quests to earn stable amount of\n$HIGH every day.<\/li>
    3. Sponsored & Special Event Quests – Brands\ncan sponsor quests as well that challenge the community as a whole.<\/li>
    4. Brand activations may pay-out in $HIGH tokens as\nwell, find HighStreet Theaters located in any city to see what is available for\nwatch-to-earn ads.<\/li>
    5. Treasure Hunts are available on $HIGHSTREET as\nwell where the whole community can compete in a game wide treasure hunt. Form\nparties or compete solo, more to be revealed later. <\/li>
    6. Combat Arenas can allow PVP wagers. Challenge\nyour friend to an archery dual by committing $HIGH Tokens ahead of time. Winner\nTakes All.<\/li><\/ol>\n\n\n\n

      Gold Rocket | Satoshi\nClub: <\/strong>To be honest, I have not seen such Marketplaces yet. When is the\nrelease? When can I put mine on vr glasses and buy something?<\/p>\n\n\n\n

      Travis Builds: <\/strong>We\nare starting Alpha this week with early signups and users! I will send video\nupdate later today in this chat as well! We just have to record some footages.\nThe goal is to transition to public alpha later this year, and in November try\nto open for beta. Metaverse is hard! So we are launching the limited edition\nmarket place first to slowly ease people into the world.<\/p>\n\n\n\n

      Q5 from Telegram User\n@Billz120 <\/strong><\/p>\n\n\n\n

      On Whale Alert \u2013 you\ndid say that you have Incorporated two main forms of defense, the first being\nby means of the reserve ratio, the higher the reserve ratio between Reserve\nToken Balance and Product will lower the price sensitivity, this means depending\non the product and can tweak the reserve ratio to ensure drastic price swings\ndon\u2019t occur? The second being by means of KYC, which you did said you\nunderstand may be a hotly debated issue, and as of now you people have no other\nmeans of limiting the amount of the same product each individual can buy, hence\nopen for community suggestions. Does this not mean that the system is\nvulnerable here and in which case the community would be badly affected? And do\nyou intend to fix this?<\/em><\/p>\n\n\n\n

      Travis Builds: <\/strong>This\nis a really good question; we have been talking about this internally for a\nlong time. This question is regarding specifically to the limited edition\nproduct place. Based on the brand we take in a couple metrics to generate a\ncustom bonding curve. Initial Price and Max supply is the obvious, however the\nslope of the curve is also determined by the brand. Some brand may want more\nredemptions and products being delivered to the users\u2019 hands, others may want\nto have full speculation and see the price go to the moon in a similar fashion\nto unstocks. For us although we let the brands decide we generally would put a\ndampener on the pricing function so that the price increase wouldn’t be too\ndrastic. However, no matter what happens buyers will always still have\nliquidity and can sell no matter what. Our fear is for someone to come in and\nbuy up a bunch of products at once and driving the price up so grass root users\ncannot afford the item anymore. Hence the KYC measures being put in place. However,\nI think this is something we have to really experiment with as we ramp up\nproduct listing. It may very well be as simple as   limiting products to one per wallet, however\nif we still see the same issue persist, we may enforce KYC on users. The team\nwants to provide a fair and fun experience for every buyer, so you can\nabsolutely count on us to be prioritizing the community here.<\/p>\n\n\n\n

      Q6 from Telegram User\n@mm_carlos<\/strong><\/p>\n\n\n\n

      NFT\u2019s secondary\nmarkets like StockX are plagued with logistics overheads. Once a buyer is\nfound, I as a seller, must guarantee the delivery of the product and its\nauthenticity, do these types of cases also occur within highstreet or are your\npolicies different? How does highstreet\u2019s logistics overhead work?<\/em><\/p>\n\n\n\n

      Travis Builds: <\/strong>ha!\nSo this is the exact problem that Highstreet’s limited edition product market\nsolves.<\/p>\n\n\n\n

      When a user buyer a product on highstreet they get an ERC20\ntoken. That token can be held for when the price goes up and then sold to\narbitrage the difference, or it could be redeemed and burned for the physical\nproduct. This way traders are only handling the token and not the product\nitself and can sell that token back to the market at any time he\/she wants. The\ncollector on the other hand is the only person who needs to touch the product,\nand they will always receive it direct from brand, so this way there’s no need\nfor authentication from middle-parties. The bonding curve amm essentially\nmerged the traditional primary and secondary market together removing the\nlogistical nightmares from traders. <\/p>\n\n\n\n

      However once a product is redeemed, it leaves HighStreet\nmarket, and whatever the user does with the physical product is up to them. It\nmay very well end up on stockX or maybe framed and sold as an NFT with\nSotheby’s.<\/p>\n\n\n\n

      \n\n\n\n

      PART 2, TELEGRAM COMMUNITY LIVE QUESTIONS<\/strong><\/p>\n\n\n\n

      The chat was open for 120 seconds; a\nlot of questions were posted by Satoshi Club community. Our guest chose some of\nthem.<\/p>\n\n\n\n

      Q1 from Telegram user\nRoss<\/strong><\/p>\n\n\n\n

      Highstreet.Market is a\nmarket place for redeemable limited edition products. The idea of tokens for limited\nedition products was born with $SOCKS in 2019, and though it is an initiative\nthat would result attractive for even the biggest brands worldwide, is unknown\nfor all of them yet. So as a marketplace specifically for these kind of tokens,\nwho would be the market of High street market right now? Also, the main goal of\ncourse is to get huge companies to use these tokens to release their limited\nedition products, so what is your plan to contact them and develop an effective\nmarketing?<\/em><\/p>\n\n\n\n

      Travis Builds: <\/strong>Highstreet’s\nlimited edition market place is indeed inspired by $SOCKS. Although we work\nwith a lot of luxury brands as mentioned in other answers, this particular\nmarket place is actually more suited for newer influencer lead brands. Whereas\nan established brand may use this as a one-off launch collaboration with an\nartist, for someone who is new to the apparel business or any business, knowing\nwhere your product is priced and valued at is crucial. Lots of influencers are\ngreat at building hype but not necessarily good at monetizing it, using the AMM\nsolution we create an automated price discovery mechanism from them. We have a\nlot of friends in this space, from ASAP Lou of the ASAP Mob who’s starting his\nCozy Boys brand, to Jaeson Ma of triller and 88rising, who’s an active advisor\nto our project.<\/p>\n\n\n\n

      Q2 from Telegram user\nAstle<\/strong><\/p>\n\n\n\n

      Why do You Bonding\nCurves Formula is getting Popular is Crypto space? How does Highstreets Solves\nLogistical & Liquidity problem by using Bonding Curves?<\/em><\/p>\n\n\n\n

      Travis Builds: <\/strong>Bonding\ncurves took off in defi because it removed the middle-man in an exchange.\nHowever there are tons of issues with things like “impermanent loss”\nand slippage, on HighStreet, we actually put deposits from purchases into a\nvault so that there is always liquidity for sellers as we move up and down the\nbonding curve. When you sell the liquidity comes straight from the vault. Of\ncourse when someone redeems, the vault also pays the brands.<\/p>\n\n\n\n

      Q3 from Telegram user\nRimjhim<\/strong><\/p>\n\n\n\n

      How does HighStreet\nGuarantee the Authencity of any Products? How will you try to provide 24\/7\ncustomer support?<\/em><\/p>\n\n\n\n

      Travis Builds: <\/strong>I’m\nassuming this is from the video. We Guarantee authenticity because products\nthat are redeemed are shipped directly from brands. 24\/7 customer support is a\nway to communicate the bonding curve’s amm to non-crypto natives. We don’t have\na middle man making markets for you, if you want to sell, the market will\nautomatically take care of you.<\/p>\n\n\n\n

      Q4 from Telegram user\nAlex B<\/strong><\/p>\n\n\n\n

      Which one of these\naspects is important for you?<\/em><\/p>\n\n\n\n

      1. 1.Increasing Token Price & Value<\/em><\/li>
      2. 2.Empowering Platform Development<\/em><\/li>
      3. 3.Building Community Trust<\/em><\/li>
      4. 4.Expanding Partnership Globally  <\/em><\/li><\/ol>\n\n\n\n

        Travis Builds: <\/strong>Right\nnow definitely empowering platform development, we want to make sure we can\ndeliver the best products to our community at launch. So we are releasing in\nphases. Phase 1 is alpha for testers of the metaverse, and the limited edition\nmarket place for the public. Then followed by a gradual ramp up of products\nsold as well as a transition to beta.<\/p>\n\n\n\n

        Q5 from Telegram user\nMars Crypto Community<\/strong><\/p>\n\n\n\n

        There are too many\nthieves who want to scam investors by creating fake Crypto projects. Hundreds\nof projects are viewed with suspicion because of these fraudsters. How can you,\npotential Investors, resolve doubts about your project and team?<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>We’ve\nbeen in business for 6 years and are very public with ourselves. The company\nwas known as LumiereVR before we rebranded to HighStreet this year. Anyone can\nlook up our team and track record!<\/p>\n\n\n\n

        Q6 from Telegram User\nLucky Boy<\/strong><\/p>\n\n\n\n

        Can you List 1-3\nKiller features of your PROJECT that makes it ahead of Competitors? What is the\nCompetitive Advantages your platform Has that you Feel most Confident about??<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>First:\nReal brands and real products in an MMORPG Game.<\/p>\n\n\n\n

        Second: Limited edition products sold on a bonding curve,\neliminating logistical issues, guaranteeing liquidity, while automating price\ndiscovery for new brands<\/p>\n\n\n\n

        Third: Built from the ground up to support VR natively.<\/p>\n\n\n\n

        Q7 from Telegram User\nGem Lover<\/strong><\/p>\n\n\n\n

        Is your project backed\nup by any investors or ventures? who are your strategic partners and do you\nhave enough funds?<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>Yes!\nWe are super fortunate enough to have had a ton of support on our journey from\nboth Traditional and Crypto investors. From HTC on the VR side giving us that\nmajor hardware support since the early days of VR, to funds like Mechanism and\nNGC who provide support on the tokenomics side. We are really humbled to have\nso many great industry leaders who share the same vision and perhaps childhood\nnostalgia of living in a fantasy or game world. Our traditional investors like\nCherubic Ventures and Palmdrive Capital also play a quintessential role in\nhelping us expand our communities beyond just crypto natives. Their almost\ndaily introductions to leading luxury brands and celebrities alike help us\nclose the gap between crypto and non-crypto users by enhancing our onboarding\nand user experience design<\/p>\n\n\n\n

        Q8 from Telegram user\nAlice<\/strong><\/p>\n\n\n\n

        Since the tokens from\nthe marketplace represent redeemable limited edition products, how is it\nensured that no token or product can be plagiated and therefore no user can be\nscammed? What gives the tokens the mark of being original and not replicable?<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>Tokens\nare erc20 tokens kept on the HighStreet Market exchange with a unique ticker.\nThey have zero value elsewhere. The system currently is invite only, so we\nonboard brands manually. In the future if we transition to a permisionless\nsystem, sellers\/merchants will have to authenticate themselves via Instagram\nand other KYC means as well as stake our tokens in order to be allowed to sell.\nWe need to make sure all sellers have the ability to deliver physical products.<\/p>\n\n\n\n

        Q9 from Telegram user\nAlex Carry<\/strong><\/p>\n\n\n\n

        Given that only a\nsmall percentage of gamers use cryptocurrency, how will you integrate gamers\nwho are unfamiliar with cryptocurrency in your platform so that you can reach a\nwider audience in the GAMING and cryptocurrency Industries?<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>This\nhas been one of the biggest questions we ask ourselves too! We built a\ncommunity on telegram without token giveaways, before this week we’ve been only\ngiving away gaming products and VR products like haptic feedback suits and\nhigh-end Headsets. For gamers they don’t need to be very familiar with crypto\nto play, $HIGH works as any other in-game currency and can be obtained by\nsimply playing the game. We hope as they progress in the game they can slowly\nexplore the crypto aspects of the game’s backend and get into this industry bit\nby bit.<\/p>\n\n\n\n

        Q10 from Telegram\nuser Einstein<\/strong><\/p>\n\n\n\n

        Usually a project will\nhave feature for buyback & burn to up value for the token, I want to know\nmore about High Street burn system, how the burn work, what possible to trigger\nburn inside your project?<\/em><\/p>\n\n\n\n

        Travis Builds: <\/strong>We\nhave a 30% pool in which tokens are delivered to users playing the game via\nProof-Of-Play. Tokens need to be spent everywhere in game, to maintain your\nreal estate costs $HIGH (a bit like management fees in a condo), to repair your\nship after dying and respawning back to the city will cost $HIGH, all of these\nare sources of burns. Furthermore, we do charge brands for various integrations\nfrom Consumer Insights analytics to sponsoring quests, these fees are used for\ntoken buy-backs.<\/p>\n\n\n\n

        \n\n\n\n

        PART 3, QUIZ AND INFO<\/strong><\/p>\n\n\n\n

        As usual, for the third part, Satoshi\nClub Team asked the chat 4 questions about HighStreet. A link to a\nQuiz form was sent into the chat. Participants had 10 minutes to answer. 300$\nwere distributed between the winners. <\/p>\n\n\n\n

        For more information and future AMAs, join our Social Media\nchannels: <\/strong><\/p>\n\n\n\n