ADPlug project team hold AMA event for Telegram users at 23th August 2021.
The content of AMA is mainly as follow:
David | NGL: Hello Everyone, my name is David Ham, VP of Strategic Relations at NEM, great to be here and grateful to moderate today. Thanks everyone for joining us. Today we have with us Sunny Pae CEO of the Adplug project, I know that you’ve been waiting for this.
Let’s get started with this AMA with ADPLug and talk about their Project and the ADMON tokens.
First, let me introduce Sunny Pae, CEO of the project.
Sunny Pae | ADPlug: Hello, everyone. Nice to meet you! Thank you for joining us today. Look forward to share more about Adplug, and answer any questions you might have.
David | NGL: Thanks Sunny, Please introduce yourself and please tell us how did you enter the blockchain space and why did you start the ADPlug project?
Sunny Pae | ADPlug: Hello, I’m Sunny Pae, the CEO of ADPlug Project. I have been in the entertainment and trade business for 24 years since I graduated from university in the United States. Then, I became interested in blockchain and cryptocurrency when the ICO boom was 4 years ago, and I have been thinking a lot to apply it to the business I experienced, and as a result, I started the ADPlug project.
David | NGL: How did you get the idea of ADPLug?
Sunny Pae | ADPlug: The idea of ADPlug came from a situation where many customers were complaining about difficulties in producing advertisements as the paradigm of advertising has shifted to mobile. Looking at Facebook and Instagram, there are a lot of models or creators than professionals, so I thought it would be nice to have a platform to connect them, with high quality at competitive prices
David | NGL: And do you think that you have succedded in creating that platform and created the right solution.
Sunny Pae | ADPlug: Yes, one was successful.
David | NGL: How can you summarize the ADPlug project in one sentence? What are the key features that can create value for ADPlug?
Sunny Pae | ADPlug: If I describe the ADPlug project in one word, I think it’s “globalization of the content-making Gig economy.” ADPlug’s goal is to build a P2P platform where young people around the world use their talents to create advertisements and purchase them for small business owners around the world. Through this, small business owners will be able to make effective advertisements at low cost, and creators will be able to use their leisure time to generate income. This is the core value of ADPlug.
David | NGL: The expression ‘globalization of the Gig economy’ sounds fresh.
David | NGL: What is the meaning of ADPLug?
Sunny Pae | ADPlug: ADPlug is a combination of “Plug in” and “AD” of the advertisement, which means that it connects advertisers and creators.
David | NGL: Are you confident that ADPLug will succeed in business?
Sunny Pae | ADPlug: Yes, of course it will be successful as we have taken into consideration a lot of customer pain points, and worked really hard to provide the best solution
David | NGL: What are your reasons for being so confident?
Sunny Pae | ADPlug: If I have to give you a reason, I can organize it in three ways.
First, the advertising market is rapidly being reorganized from TV or newspaper magazines to mobile devices.
Second, consumers spend a considerable amount of time on social media through mobile devices.
Third, as mobile devices are distributed regardless of advanced/reverse countries, there are a lot of creators around the world who are willing to show their talents even at low prices offered by small business owners in advanced countries.
Just imagine. What if a designer who runs a small clothing store in Dongdaemun Market in Korea wears a Paris model and takes a picture in front of the Eiffel Tower?
What if a young Japanese founder made a house beer commercial at an open-air pub in Munich, Germany, where young people enjoy drinking?
But what if it’s several times cheaper than domestic advertising companies?
David | NGL: Oh, then it really has to succeed, right? But as far as I know, the service hasn’t been launched yet, is there a case where it was actually carried out?
Sunny Pae | ADPlug: Yes, there is. Before starting the project, we tested it to determine the possibility. We asked a creator in Belarus to produce an advertisement for a Korean product. We received 4 advertisements and hundreds of still-cut photos of the product for the cost of making one simple mobile ad in Korea, and I was really satisfied with the quality.
David | NGL: Wouldn’t it take more time to send products or clothes to an individual overseas to make an ad?
Sunny Pae | ADPlug: Yes, that’s right. It will take longer than in Korea. However, the disadvantages will continue to improve in the future as special services such as EMS, DHL, and FEDEX have recently reduced time and cost. On the other hand, advertisers who plan overseas location production ads have the advantage of saving money and time. ^^
David | NGL: Is there any risk that creators will disappear after receiving products and without creating content? Or what if the advertiser doesn’t pay when the ad was made?
Sunny Pae | ADPlug: That’s the biggest concern of all P2P platforms. What if the other person doesn’t keep his promise? We will solve this problem with blockchain technology and local agents.
David | NGL: Please explain more thoroughly.
Sunny Pae | ADPlug: If a creator has less experience working on the platform and is less reliable, or if the target of an ad is an expensive product, the advertiser sends the product to a local agent, not to a creator, and the creator works under the management of the agent. Of course, when the work is done, the advertiser will get the product back through the agent.
The contract between the advertiser and the creator is written as a smart contract and the advertiser has to make the payment upon signing the contract, which is locked by the smart contract and paid to the creator when the advertiser finally approves it.
David | NGL: Then do you have the local agent yet?
Sunny Pae | ADPlug: Yes, we have signed an agent contract with B2TheModel, Belarus’s agent company famous as Model Country, and we will expand the ecosystem by finding suitable companies for each country.
David | NGL: :What is the qualification or role of an agent?
Sunny Pae | ADPlug: ADPlug is looking for an agent with a photographer and a studio if possible. He will rent a studio or provide filming services to creators. Of course, he will also be responsible for verification of creators in your area.
David | NGL: Do you develop your own blockchain?
Sunny Pae | ADPlug: ADPlug will utilize existing proven blockchain technology without developing blockchain mainnet for rapid implementation of ecosystem. In addition, we will build a platform based on SYMBOL blockchain optimized for multi-party contracts.
David | NGL: Then, is ADMON token a symbol-based token?
Sunny Pae | ADPlug: The ADMON issued now is a token in ERC20 format. However, once the platform that works with the symbol blockchain is complete, it will be swapped by issuing a symbolized token.
David | NGL: What is the ADMON token for?
Sunny Pae | ADPlug: ADMON is used as the default payment method on the ADPlug platform. In other words, advertisers have to pay for the production of content using ADMON, and various services such as filming services, studio rental, and equipment rental that creators need must also be purchased through ADMON.
TELEGRAM USERS’ Questions
ID @tigermap : Where can I buy ADMON tokens?
Sunny Pae | ADPlug: ADMON token is not listed on the exchange yet. Until it is listed, you can get it through rewards that you can receive by contributing to the ADPlug ecosystem.
David | NGL: Then can you explain more about the reward system?
Sunny Pae | ADPlug: Users can receive reward tokens from the platform by participating in verification of creators, evaluation of their work, or various events.
David | NGL: Thanks for the explanation.
ID Nakwon Choe: When will the ADPlug service be launched? Can I use it on mobile?
Sunny Pae | ADPlug: The beta version is currently under development, and it will be tested in September and we will be able to launch the service by October. However, beta version cannot use some functions such as automatic translation chat, and there will be a limit to the normal use of mobile as a reactive web, and the official service version is aimed at completing in January next year.
David | NGL: In which country can it be possible to use the ADPlug service?
Sunny Pae | ADPlug: ADPlug aims to provide services worldwide. However, the local agent will start in Belarus and gradually expand, and plans to bring in creators through various events. Advertisers are available to anyone all over the world.
David | NGL: Thank you for your explanation..
ID @planner2030: What is the ADPlug project team’s strategy for a successful project? Also, how will ADPlug make more non-crypto users use the service in the blockchain ecosystem?
Sunny Pae | ADPlug: The ADPlug team is already pushing for MOU with the Merchants Association in Myeong-dong, Korea’s shopping mecca, Dongdaemun, and will push for the inflow of early models and creators with local agents in Belarus, the country of models. I am confident that the combination of these two is the best fit for the purpose of ADPLug, which connects small business owners and creators, and could be the first attempt to create the most effective ecosystem. Through the initial free trial project, we will focus the attention of small business owners and expand users through intensive promotion.
ID @ctzUz: I think you said you were going to start a service in Korea earlier, how are you going to expand your business to the global market?
Sunny Pae | ADPlug: The market for services is open to the world. However, we are starting the service in Korea because we will be able to create a lot of initial use cases by starting pilot projects in areas where demand for fashion models is the highest and small businesses are concentrated. The more Use cases, the more attention the world will have on the advantages of our service, and we plan to conduct PR activities targeting small business organizations in each country.
ID @djbanker: Everyone talks about the positive points, advantages, etc. of the project, but no one talks about the disadvantages. Can you honestly explain the shortcomings and supplements of the ADPlug project?
Sunny Pae | ADPlug: The biggest disadvantage is that the ADPlug project has not been launched long ago, and we have not secured users yet because it has not been serviced yet. However, the ADPlug team has a global marketing expert team and plans to secure users from all over the world through marketing activities through various channels. Exposure to the media will be important, but most of all, we will focus on discovering use cases.
David | NGL: Thank you for your reply. Do you have one last message to the community?
Sunny Pae | ADPlug: Everyone, thank you for participating in AMA. Please show a lot of support for ADPlug’s future activities. Thank you.