CROWNY AMA Transcript

Receive rewards for engaging with offers you like, from brands you love! Crowny, Built on Solana

By
Solana News
on
May 22, 2021
Category:
AMA

All questions answered by Quincy



KDOT (BSC.NEWS): Oh right! perfect! Welcome welcome :) Thanks for coming on today! Hows your day so far?

Quincy: Hey man

Yeah everything is less red compared to yesterday, so thats a good start right!

How about yourself?

And also a warm welcome to all the participants

KDOT (BSC.NEWS): Haha! Yes it was a "dont open price app" day yesterday! Yes all good pumped and ready for this AMA!!

You ready to rock n roll?

Quincy: 100%

Looking forward to it

KDOT (BSC.NEWS): Ok lets do it! after youve finished answering each Q please type "Done". 

I will be asking around 11 Qs and then 4 Qs from the community.

Quincy: Bring it on!







Q1: Firstly, to kick it off I'd like to give the audience a good understanding of what your project (Crowny) is looking to achieve/solve?


Quincy: I'd love to

So with Crowny we connect and reward users for engaging with their favourite brands, ensuring brands reach the right target audience, while protecting users’ privacy. Users receive relevant content and offers based on their preferences, allowing them to earn $CRWNY and loyalty points.

KDOT (BSC.NEWS): OK perfect! oh wow, you dual earn! something i didnt know..

So does that make the token inflationary? or how are the $CRWNY that are earnt through this program generated?

Quincy: In the coming questions I'll answer this as well. I think that gives a better understanding 🙂

KDOT (BSC.NEWS): OK thanks :)







Q2: I understand that you are bringing a customer loyalty program to the blockchain, please tell me why the blockchain is needed for this type of project?


Quincy: So since we have two kinds of tokens programs. 1. Loyalty points (built on Solana) and Crowny tokens $CRWNY (ERC20 first, later on migrated to Solana). The utility offered by the loyalty points will largely be determined by the brands themselves (they set the rewards in points themselves). 2. The utility for $CRWNY will be staking at first, but we will add other things such as governance features in the near future.

To share more info on that we will work with existing brands. They can create their own loyalty point system on Crowny and get a place in our app which results in a win-win for both the user and brand.

On top of that there are many problems within the advertising and brand loyalty sector such as waste, intrusive ads, what you can read all about in our WP/PD. Eventually to answer your question about 'why it's needed' current ones are expensive for brands, fraud can happen with old fashioned loyalty programs (stamps, piece of paper etc) and the UI is not that friendly in general. On top of that users lose sight with all the apps they have to download.

KDOT (BSC.NEWS): Thank you very much for that detailed insight! I agree that the current way is easily tampered with by bad actors.

Quincy: We do to (obviously)😜








Q3: For Crowny to work the way it's intended, does it have to partner with brands? If so, how do you plan on trying to achieve this when we have other non-blockchain projects similar out there already? Or brands have their own loyalty programs.


Quincy: I think the question before gave a bit of an explanation already, but yes, we need to partner with brands. There are just many advantages we have compared to existing loyalty programs.

Yesterday we dropped an article about this topic and I think this will explain it better: https://crowny.medium.com/traditional-loyalty-programs-vs-crypto-loyalty-programs-aa90f5f1cc43

And to get back to this question; tokens are acquired by the advertiser, throgh an exchange or by buying them from another CRWNY owner. No tokens are created.

KDOT (BSC.NEWS): Perfect, thanks for clarifying








Q4: For a Customer to take advantage of your program, would they need to interact with a web3 wallet or will it be made easier than that?


Quincy: We can tell you it will be way easier compared to your average metamask wallet. In the most recent mockups on Medium you can already see that the loyalty points from different brands will be displayed in a very user friendly way. The same will eventually apply for the $CRWNY token, but more info about that will follow in the next few weeks!

KDOT (BSC.NEWS): Nice! Yes I like user Friendly stuff.. esp if we want to adopt our products to non crypto users.

Quincy: Exactly

That's what we aim to do

KDOT (BSC.NEWS): Amazing! good to hear! :D






Q5: What kind of advertising mechanisms do you apply? And how does it work?


Quincy: Nice one

We offer several mechanisms that a brand can utilise to maximise effectiveness and/or interaction. These mechanisms include: QR-codes, Geofences, and Push-notifications. These mechanisms are described in more detail in our whitepaper;

So for users using the Crowny app they can be rewarded in loyalty points from the brand and $CRWNY. The reward that a user receives for interacting with the content will always contain $CRWNY tokens with a set minimum. This minimum is set in a fiat currency and we will convert this minimum to $CRWNY the moment the users will be eligible for the reward.

KDOT (BSC.NEWS): Amazing! thank you






Q6: You launched on ETH, now on SOLANA, why did you move over?


Quincy: It was always our intention to do so. You can also read this in the Whitepaper, Pitchdeck and was also publicly available before on the DAOMaker website.

Link:

So let me give you an example why ETH would never work (now)

Imagine sending a $0.20 as a reward and end up paying $40 in gas fees...

Solana solves the whole scalability part, transaction speed etc

KDOT (BSC.NEWS): Thank you, yes this makes 100% sense. Currently it is super expensive to do anything on ETH.






Q7: What is the CEOs background & what was the motivation behind starting a project like this?


Quincy: Aha my background 🙂

Previously I Co-founded Stagemarkt, the biggest internship application in the Netherlands with over 200k+ registered companies on it. My partner and I sold the application later on to the government. During that period I really grew my network and afterwards, I decided to move into the online marketing space and provide marketing services for several companies. A bit later I invested in a company called MrFriendly. MrFriendly was a company that sold waterless toilets with a media device in it so brands could advertise. During that period I worked closely with lots of brands. Later on I exited MrFriendly roughly 2 years later and became ‘fully crypto’. In the last few years I've been actively involved in the space and also did some public speaking in several countries.

KDOT (BSC.NEWS): aha so you're "BUILDER" i like it :).. but im curious about a waterless toilet. :D

I'll google that after this.

Quincy: You should 🙂

You can find many in the Netherlands, Germany etc

KDOT (BSC.NEWS): Q8: With building out our very own project (SolanaNews) I can appreciate how hard it is to recruit hard working individuals with the same goals & also cryptoExperience, Please give us an insight into your team & what experience they have.

Quincy: First of all I appreciate what all of you are doing for the industry wil Solana News

And to answer your question; I'm really grateful to have the right partners and whole team around me which continue to build everyday!

Regarding my partners, our COO Mark has 30+ years of experience in IT. Created the interactive media platform of TwinSight Media and held senior positions or functioned as CTO for multiple companies. While our CTO, Stephano, was a full stack developer who learned programming at the age of 5. Built several applications and platforms with a focus on tools and interactive software systems within the advertising industry.

KDOT (BSC.NEWS): Wow! age of 5 he was coding! that is amazinngg!!





Q9: Where do you see Crowny in 10 years?


Quincy: Easy: conquering the world and making an impact in the crypto, brand loyalty and advertising industry.

KDOT (BSC.NEWS): amazing! good answer :)





Q10: Please provide us with some juicy Info


Quincy: Ughhh this one is always really hard and you know it😆

What I can say is that we are working around the clock to bring the best first version of the app to our users with some interesting partners who we are about to work with 😉

KDOT (BSC.NEWS): ahhh nice :P this sound exciting!






Q11: Where can we buy the Crowny tokens?


Quincy: You can do it through both of the links i'll provide in the next message!

KDOT (BSC.NEWS): OK cool






Q12: Please provide us with all your social links


Quincy:

🦄Uniswap Trading: $CRWNY

📈AscendEX Trading: $CRWNY

Telegram

Twitter

Website

Which questions did you choose as the winning questions @KdotTrades

KDOT (BSC.NEWS): Yes lets move onto the community Qs which i have chosen from Twitter!

Firstly thanks for answering the above! appreciate the in depth detailed answers!

Quincy: My pleasure so far!

KDOT (BSC.NEWS): So (Andyuk03) asked

How far in development is the product? When can we expect it to go live?

Quincy: We are aiming to go live within Q2 2021 as is described in our roadmap. We are currently focussing on the UI and UX aspects of it. More info will follow soon! Also check our video:

KDOT (BSC.NEWS): Baykusbirligi asked

Can you give some information about the Crowny app? What are the incentives for the app users?

Quincy: The incentives can be in $CRWNY tokens and loyalty points. And obviously through offers/discounts brands can provide on top of this!

KDOT (BSC.NEWS): Jay151299 asked

Is there any ongoing process to be listed on a top tier exchange (binance, kucoin, ...)? If yes, WHEN?

Quincy: Our main focus is on getting our best version of the product out. Understand that exchange listings can take time, but it’s something we are definitely exploring and where we received offers, unfortunately this is something we can't discuss. Mind you, we have received a grant from Serum and our investors have good relationships at multiple places.

KDOT (BSC.NEWS): ah very nice, good to hear on the grant :)

Guddu_RT Asked: 

As far I know free loyalty system has tie up with business. they dont leave the amount outside the circle. Like even if coupon is given, one has to use within specific network and time. how you would convivence business to use crowny? Is there any platform on board as of now?

Quincy: The company is free to modify the program as he wants to. We can provide both closed and open systems.

There are multiple business we are speaking with. One of the most recent partnerships we announced is with AscendEX, an exchange with over 1m+ users which is going to use our loyalty and advertising mechanisms. You can read more about it here:

KDOT (BSC.NEWS): Amazing! Thank you for answering all the Qs and attending today! Hope you enjoyed it!

Quincy: Glad you were all here

KDOT (BSC.NEWS): We will prepare a transcript very soon and have it on our site :)

Quincy: Thanks for being an amazing host @KdotTrades

👑

KDOT (BSC.NEWS): no problem :) Thanks!!

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