Recap of the AMA with Andres Baustelle CEO & Founder of The Republik, held on SOY Finance Telegram group on 22nd April 2022.
Tonton | SOY Finance: Hey @AndresBaustelle how it's going mate?
Andres | The Republik: Its going great, thanks @TontonBenz !
Gary | SOY Finance: Helo Andres, Could you please introduce yourself and tell us the story behind the creation of TheRepublik?
Andres | The Republik: Yeah would love!
Gary | SOY Finance: Great been lots of questions.
Gary | SOY Finance: So can you introduce and explain to the community what TheRepublik is?
Andres | The Republik: So i am Andres, i started off in Music working with producers and artists on growing their careers - always been driven by music, technology and innovation. After working for a major record label i decided to go back in doing my own thing, and this is where the idea of the Republik was born.
Gary | SOY Finance: Good, solid knowledge is great to know! What exactly is TheRepublik, many are asking.
Andres | The Republik: The Republik is decentralized IP (Intellectual Property): our main Idea was - driven by decentralization and being big fans of great story worlds - can we create a lore, a story, a world that a) is not only developed with and by a community but also b) owned by it.
Think of marvel: Disney owns all rights to Iron Man- the name the logo the story, the suit.
But we have all watched the movies, bought merchandise, listened to the soundtrack. So the value is created by the fans, but its captured by the corporate. this is what we wanted to flip on its head.
Gary | SOY Finance: This is done by using the Metaverse?
Andres | The Republik: Yes - but our idea is that the Republik stands across the metaverse as decentralized IP (Intellectual Property). That means it originates over our community but can live across platforms and destinations in the metaverse.
Gary | SOY Finance: Metaverse is a big topic nowadays, how do you see the industry in the next 5 years with your vision of TheRepublik.
Andres | The Republik: I see the metaverse being driven by 3 three essential layers: Identity, security and experience. The main driver for experience outside of social will be IP: there is no better tool than great stories to learn about a new space and find your own voice.
Gary | SOY Finance: How is TheRepublik going to be a game-changer for the Metaverse? What is your vision?
Andres | The Republik: I believe so as we are aim for interoperability over the IP layer. Whilst most platforms and worlds are focused on their own infrastructure we plan to release The Republik Games and stories across the metaverse - from Sandbox to Discord, from Roblox to collectible NFTs.
Gary | SOY Finance: When you say decentralized ip you are referring to decentralized intellectual property. Could you please tell us more about decentralized intellectual property? This is new to many of the community. Why is it so important?
Andres | The Republik: Yes absolutely. Fictional stories (with original characters etc.) are considered intellectual property (IP): a collection of intangible creations of the human intellect that belong to the creator.
Decentralized IP means for us: we take all rights from TheRepublik - the characters, the music, the name, the stories - and bundle it up. That bundle then gets tokenized, so the intellectual property is split up and can be owned by a multitude of people instead of one central organization. Transparent on chain. Everyone owning a token becomes an owner of the IP. That's decentralized intellectual property.
Gary | SOY Finance: So Andres, we have heard that TheRepublik team is composed of experienced people. When do you plan to unveil the members?
Andres | The Republik: Very soon. We are currently getting new members on board, from a VP of engineering to an art director. Once all is closed and sealed we will introduce all team members 🤲
Gary | SOY Finance: That will be a big day indeed.
Andres | The Republik: Absolutely - what i can say is we are looking for the right people with the right talent and also who buy into the vision, that's why the process takes a little bit longer. But what I can tell is these are all senior and experienced people. I am fortunate to be embarking with them. 🙏
Gary | SOY Finance: TheRepublik has already sold parcels for 125 000 USD, congratulations! Could you please tell us more about the benefits of holding land in TheRepublik. Many are asking here and are interested.
Andres | The Republik: 100% of the land of the Republik represents 100% of the intellectual property. Owning land in the Republik, therefore, means being a part-owner of that intellectual property. We plan to monetize the IP over experiences: Games, products, licenses. Profits will be split up between the rights holders.
So if you own a chunk of land you will be entitled to be part of that distribution :)
Gary | SOY Finance: That is exciting!
You must be very busy with the launch Andres and all the surrounding activities.,Regarding the work done so far, could you give us a brief review as well as share with us what we can expect to see from TheRepublik in the second quarter 2022?
Andres | The Republik: Yes i can say i havent slept much lately 😅
The value of IP is measured in relevance: the more relevant a story (intellectual property), the more valuable it is. To increase the value of the Republik while we are in the first two waves of the land sale, we will release a couple of mini-game and experiences in Q2.
All games and experiences include our original characters and the city. 1 game is at 90%, and the production for the second one starts next Monday. We will also release an own first version "The Sigma Project" a software to manage Republik tokens and content on the socials for our community.
The 2 games and the soft launch of the sigma project will be released in Q2, so we are working on A LOT right now 🚀
Gary | SOY Finance: Great to know.
Anything else you would like to add Andres before I unmute and test my community with a few questions to reward first correct answer on TheRepublik? and then we will allow the community to ask questions on a slow pace which the 3 best questions will also be rewarded.
Andres | The Republik: No i think i am good, i am looking forward to the questions!
Question 1: What area does TheRepublik want to decentralize?
- Answer: IP ( Intellectual Property).
Question 2: What is the total supply of land NFTs in TheRepublik?
- Answer: 380.
Question 3: What is the locking period for the NFTs?
- Answer: None
DecoLamb: Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I'd like to know who your ideal consumer is for your product?
Andres | The Republik: Yes we actually not only use our community for product (games, software) but also for the lore / story itself. we have already hosted short story contest on discord so we can check things like: which district is currently the most exciting for the community? Where did Aisha (one of our heroes) go to school etc.? we see the community as partners in this, hence their feedback is vital for 1) product 2)lore/story and 3) roadmap.
Ngọc Ngân I Hải Anh: Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
Andres | The Republik: We chose our partners for talents they have and can bring in. E.g. we are partnered with Warner Music as they have a big vision for the metaverse and represent great artists - so it makes a lot of sense for us to include them and their music in the long run in the Republik.
Analogy: What are the advantages and benefit for companies who possessing land in The Republik?
Andres | The Republik: As you guys can see, we start the sale with parcels (which are the aggregation units) before opening up for units. If a company owns a parcel (or later buys enough units to have a parcel) they will get the right to develop experiences around the Republik: they get access to our characters, we work with them on story, creatives etc. They also get the right to monetize their game, experience or content - Revenues will be split and one part stays with the company / parcel holder while the other part goes to the Republik, and will be redistributed at the end of the year to the rights holders.
Gary | SOY Finance: I have one question Andres that is a question that has been asked of me many times since partnership was announced before you leave Many here are asking if they will have an opportunity to invest in smaller amounts?
Andres | The Republik: Yes absolutely.
Gary | SOY Finance: And that’s it for today’s AMA session!
@AndresBaustelle Many thanks for sharing this moment with us and answering questions from the community!
Andres | The Republik: It was a pleasure guys!
Gary | SOY Finance: Best of luck in continuing with TheRepublik!
A big thank you to all the CalliSOYans for being so amazing, we had another great AMA on Soy Finance!
I like to invite community to TheRepublik social media:
- 💬 Telegram: https://t.me/TheRepublikCommunity
- 🐦 Twitter: https://twitter.com/RepublikNetwork
- 🔵 Discord: https://discord.com/invite/EmWAWzFsCb
- 📝 Medium: https://medium.com/@TheRepublik
- 🌐 Website: https://therepublik.io/
Lets show TheRepublik some #CLOve!