AMA Recap of Dude’s Army x Polkally

On Tuesday, May 17th, Dude’s Army community had the great opportunity to host an AMA with Polkally’s team, very instructive and educational. We will share with you a little bit of what this experience was like.

The Dude👨‍💼:

Let’s start this AMA. It’s an honor to have you with us! Share a bit about yourself and your background.

Chloé Bigot:

So my name is Chloé, I’m a french painter & 3D artist

I live in France and I’m the Polkally CEO. Let me share my portfolio link: https://chloebt.artstation.com/

Polkally is essentially a decentralized marketplace project for NFTs, powered by EVM-based blockchains as well as Polkadot and IPFS

The Dude👨‍💼:

Sounds great! Explain to us more though how Polkally is changing the NFT space. What’s news on it?

Chloé Bigot:

Decentralized KYC, based on IPFS

A dynamic auction system, to sell artworks at the best price. Compatibility with all EVM compatible networks as well as Polkadot. NFTs exchangeable for physical artworks, thanks to partnerships with private art galleries The Polkally DAO, to allow KALLY token holders to participate in the whole decision-making process.

That’s a list of the core features of our upcoming platform. I’ll share our most recent news as well.

Since we launched Polkally at the end of February, several incredible investors have joined our project.

Want to know more? 🤔

Then read this Medium article (https://bit.ly/3tgHOny)! 😜

The Dude👨‍💼:

So explain us how will the dynamic auction will work out? Give us a real example.

Chloé Bigot:

That’s really simple actually, it works like any other auction system

The protocol will be fully non custodial, all funds will transit through a smart contracts system

There will be two types of sales: auctions and direct buys.

The direct buy works like any other marketplace, a price is set in advance by the seller and once this price is hit, the sale act is triggered

Regarding the auction system, sellers will be able to select a period of time (between 5 minutes and a month) and at the end of this period, the person who will have sent the most KALLYs to the smart contract will get the NFT, the seller will be paid and the other participants will be refunded

The Dude👨‍💼:

Sounds amazing! What about Polkally tokens? How will them work out in the ecosystem?

Chloé Bigot:

Our token has three main use cases

First of all, that’s the only currency of our platform

If you want to buy NFTs, you need to own KALLYs

Moreover, half of the TX fees generated by our protocol are being burned

That’s about 2.5% on each sale. If you’re spending 1000 KALLYs on an artwork, 25 of these tokens will be destroyed forever

That’s a really nice incentive for buyers.

Secondly, it will be possible to exchange KALLY for advertising banners (if you’re a seller looking to raise awareness around your NFTs)

And token holders will also be able to participate in the whole-decision making process, thanks to the Polkally DAO

The Dude👨‍💼:

Don’t you think that will drive less adoption though?

Chloé Bigot:

Buying KALLY will be very easy to do

We will integrate a credit card/PayPal buy system as soon as possible, to make sure that non crypto users can grab KALLY tokens

The Dude👨‍💼:

Is the product ready? How is the development?

Chloé Bigot:

Our platform is not live yet. We’re currently working over our prototype

We expect our MVP to be released during summer 2021

And a second version of our protocol, before the end of the year

Community Questions

Q1 from Dalmasca Blockchain:

Can we move assets like Ethereum, Ethereum Classic, Tron, Polygon and EOS, even NFTs, between chains thanks to Polkally? Doesn’t this require a high cost?

Chloé Bigot:

That’s the idea, yes

Polkally will be made interoperable with Ethereum, BSC, Polkadot.

Then the goal is to make it compatible with one more blockchain network every 45 or 60 days.

In two years from now, Polkally should be deployed on top of +10 different blockchain networks.

Q2 from Al Bianco:

Hello @chloepolkally ! I saw that $KALLY is not available for trading. Can you tell us when we can trade it? Also I saw that your IDO started today. Is there an opportunity to participate? What are your requirements?

Chloé Bigot:

Polkally will be available on May 19th, a few hours after the end of our dual-IDO

More info should be announced tomorrow.

So make sure to join our different social networks if you don’t want to miss the news

Website: https://polkally.com

Twitter: https://twitter.com/realpolkally

Medium: https://medium.com/@polkally

Telegram Group: t.me/polkally

News: t.me/polkallynews

Q3 from Eberto Brusque:

What kind of privileges do artists have and how do they benefit from publishing their nft on your platform? What percentage do artists earn?

Chloé Bigot:

Polkally is the first marketplace for NFTs to integrate an advertising system

Moreover, unlike some of the other platforms already present on the market, Polkally will be fully non custodial

It means that artists will have total control over their artworks.

Q4 from Mamberroy:

One of the characteristics of polkally is that real artwork can be traded, how am I sure I will receive the physical artwork that I buy? and that this artwork will be real and unique?

Chloé Bigot:

These NFTs will only be possible with private art galleries and partnerships

It will not be available for all our users because it involves a broad insurance mechanism and fraud risks

These NFTs will only be possible with private art galleries and partnerships

It will not be available for all our users because it involves a broad insurance mechanism and fraud risks

The principle is quite simple: an artwork from the real-world is authenticated on the blockchain and the NFT represents a property title

If you want to get the artwork shipped at your home, you’ll be able destroy the NFT (by sending it to one of our smart contracts that will lock it forever)

And the physical artwork will be delivered to you.

Q5 from Mariana:

Talking about partnership, I saw Polkally started a strategic partnership with the Eura Technologies incubator, but could you give us details of the reasons that influenced the development team to start this partnership and what would be the benefits of this partnership?

Chloé Bigot:

That’s great for exposure

And as I mentioned, EuraTechnologies is partnering with IBM, Amazon, PayPal, Stripe, Unity and dozen of other huge companies

It means that Polkally could (potentially) get in touch with these IT giants in the future

That’s truly awesome, we would never expected that a few months ago

Incredible journey so far, I’m really proud of our progress

About Polkally

Polkally is a P2P auction platform powered by substrate! What makes Polkally unique is its interoperability, no hidden fees, user-friendly and privacy focused.

More information about Polkally:

Website: https://www.polkally.com/

Telegram: http://T.me/polkally

Twitter: https://twitter.com/realpolkally?s=09

Recaps of all AMA sessions from @dudesignals, one of the most informative cryptocurrency channels on Telegram.