Smart Chain Apes hosted an AMA with Naruto team on April 13th. The team was in our server for more than 1hr talking about Naruto and their plans for the future. Gaara, the project lead, answered all the questions in a very professional way. Here is a recap of the AMA
AJ: I’d like to welcome Gaara and all the Ninjas to Smart Chain Apes community!
Gaara: Thanks for having me!
AJ: ~ Can you please introduce yourself and your project $NARUTO2 to our members?
Gaara: Sure. Hey everyone, I’m Gaara. I’m the project lead of Naruto BSC.
Naruto BSC, in its current iteration, is a decentalized Naruto fan club with two tokens: $NARUTO2 and $BRUTO. $NARUTO2 is our primary token and is the backbone of the project. $BRUTO is our farming token.
We distribute Naruto fan art NFTs on our NFT marketplace: jutsuswap.com . The NFTs you purchase with $NARUTO2 from our site can then be staked to yield $BRUTO.
AJ: ~ What is your background and how did you get involved in crypto?
Gaara: I’m in grad school at the moment, getting my MBA. I have been in and out of crypto since 2017; I caught the bug back then, took a bit of time off, and recently returned.
AJ: ~ Who’s the team behind $NARUTO2 and how long the team has been together?
Gaara: So the team is mostly just friends of mine that I have made on Telegram. The people who make most of the major decisions about the project are myself and another dev. I’ve worked with this other dev for about 6 months now.
AJ: ~ Do you have any in-house artists for NTFs at the moment?
Gaara: Well we have about three artists who we have basically on demand — I’ll share some of the work they have done for us so far.
AJ: ~ Are you looking to expand your team anytime soon?
Gaara: Well in a way we already are. Following the raise we did for BRUTO we are in contact with a new team of front end developers to help us with a massive upgrade about to take place to our NFT marketplace. That upgrade will coincide with our rebrand as a project.
AJ: ~ Can you explain $Bruto ecosystem to us in few words please?
Gaara: Absolutely. So our yield farm can be found at this link (or from the “Village” button on our main site): https://village.jutsuswap.com/#/sage
The BRUTO token itself will have a never-before-seen time variable tax system. It will maintain a 1% burn constantly, but it will have an additional 4% tax which begins at the time of your first farming rewards claim. This tax will decrease by 1% each day since your previous claim.
In other words: If you claim and dump right away, you will lose 4% of your yield — while holders will be rewarded.
The $BRUTO system itself will be undergoing changes in the coming days/weeks as well, though. So I wouldn’t get too excited about the pools currently available on the site as they may be going offline soon.
Additionally, as with $NARUTO2, $BRUTO can be used to purchase NFTs. However, while the $NARUTO2 NFTs can be staked on our farm, the $BRUTO NFTs are actually used for entry into our weekly lottery.
AJ: ~ What are the long-term plans for the $Bruto, since it got launched recently. What makes it different from other lottery projects?
Gaara: Right so the lottery is only a small facet of our overall plans for $BRUTO. $BRUTO will, once we begin our rebrand, essentially become a pure charity coin.
AJ: ~ Any ETA on the rebrand? Can you share a little bit more of what to expect?
Gaara: Well the rebrand will essentially begin after this AMA. Many of my community members are about to learn a lot of this information from this AMA — we’ve been keeping things under wraps while we worked out the ideas, and we felt there was no better time to speak about where we are headed than when we were in front of an awesome and active community like this.
Our NARUTO2 LP is locked for another 30 days or so, which means our token name cannot change until that point. But, once it does, we will finalize our new identity.
- So once our LP unlocks, and our jutsuswap upgrades complete, we will begin our journey as $BAE : The Binance Art Exchange.
But the reality of what is happening with our project and honestly every other NFT marketplace project is that we are all about to be rendered totally obsolete by this:
- Obsolete, that is, unless we find a niche and pivot to remain relevant.
And that’s where we come in. $BAE will not just be “another NFT marketplace.”
We will become a source of doing good in the world, and helping projects make the most out of their NFTs while doing so.
- So the general focus of this rebrand will be a shift from this niche thing that we have now to a more philanthropic concept.
In the future, 1–5% of all sales and transactions on $BAE (currently JutsuSwap) will be transferred to a separate wallet. That wallet’s holdings will be used in their entirety to support charities which seek to improve the world around us. Additionally, the tax that I wrote about here will be used for the same purpose. So when people dump $BRUTO, they will actually be making indirect donations to the causes our community chooses to support.
AJ: ~ When $BAE is up and running, are you planning to release any other token besides $BRUTO?
Gaara: We’ll see how it goes. As it currently stands we don’t see a need for a third token. But we are always open to ideas and proposals.
AJ: ~ Will rebranding include any new partnership? Are you looking for partners in future?
Gaara: So we actually already have partnerships with some great projects — $YES, $EXF, $GANJA, $SPUNGE, and we were even early supporters of $LIGHT (although I haven’t heard much from Lucas recently). We also partnered up with $PIE to get a lending pool on their platform. In total I think we have somewhere around 8 partners.
But yes, absolutely. Partnerships will be a primary focus and will play directly into our charitable model.
We already offer minting and listing services for our partners (you can see that many of those projects above already are on JutsuSwap) but what we are going to offer is something greater. We will give projects a place to mint their NFTs and allow for portions of their sales to go to good causes, but we will also provide them and their community with an opportunity to make use of those nfts.
After the rebrand is underway we can start to set up what will basically be a partner-pool NFT staking platform where they won’t farm our token, but they will be able to farm their own (made possible via the amount in the marketplace contract from their own sales of NFTs on JutsuSwap).
Basically, our approach will be, “Come mint and list your NFTs with us, and your community will gain access to NFT staking pools for your own token”
A one stop shop where you can do whatever minting and selling you like, make a difference in the world, and provide your token with immediate use if you have an artist willing to make NFTs for you
AJ: ~ Do you have a marketing plan at the moment? What tools are you using for marketing?
Gaara: So we have run ads on waterfall bot, have participated in several AMAs (I believe this is our 3rd), and have hired marketers from both twitter and telegram so far. We’ve unfortunately not seen much of an ROI from the marketing campaigns we have pursued but we won’t give up on it until something works.
I think a barrier we’ve been hitting is that people struggle to take us seriously because of our name and us being so niche. $BAE is meant to change that.
AJ: ~ How will you ensure stability of $Naruto2 in long term?
Gaara: Well the $BAE token will include liquidity acquisition (much like $SAFEMOON or my friend @SenorSatoshi ‘s $VANA project) to help it with sustainability. But our main focus is building out the NFT platform into something that can be meaningful — and $BAE will serve as the backbone for it. KInd of like $RARI is to Raribible.
AJ: Any last comment you would like to add, Maybe the transition from $NARUTO2 to $BAE
Gaara: We will trade as $NARUTO2 until the day of our LP unlock and at that point we will pull all of the $NARUTO2 liquidity and immediately redeploy as $BAE. We will perform a snapshot of the current holders at the time of the liquidity pull and airdrop them 1:1 (or whatever ratio the supply will be to $NARUTO2’s supply) and then permanently lock the liquidity as $BAE.
There is so much money that flies around in crypto, and now a lot of that money is funneling into NFTs. $BAE will use that money not to fatten our own pockets, but to give back to those who need it most and we will do that while also giving NFTs an immediate use-case.
AJ: Any plans on redesigning the website as well after the rebrand?
Gaara: Yes everything will be changed in its entirety.
Questions from the Community
- Question from the Community
From @GimbalLock
“Are you looking to reach to anime communities to gain interest in these nfts?”
Gaara: Well, if we were going to stay Naruto2 forever, certainly. However, with our upcoming rebrand, it might not make as much sense.
- Question from the community
From @GimbalLock
Can you talk about the marketplace for individual artists to mint and sell their own work?
Gaara: I’ll start with that in what’s to expect with this rebrand.
JutsuSwap currently only supports 1155 minting (we are the only platform on BSC that supports this standard over 721). Furthermore, it is basically a project-to-consumer distribution platform. We have made possible OTC selling of NFTs, but we don’t yet have a live user-user auction marketplace up yet.
So some of the JutsuSwap upgrades (which will of course be BAE after the rebrand is complete):
1. An open minter for artists to mint and sell their own NFTs in either standard that they so desire (not available on BSC yet anywhere — only 721’s are offered at the moment) and in exchange for whatever token they like (not available in either eth or bsc to my knowledge).
2. User-user auctions so that people can sell the NFTs they purchase on the platform
3. Universal NFT staking, which I can explain separately.
- Question from the community
From @crypt0_ape
How many times a week you will hold the lottery?
Gaara: Once per week for the next few weeks after we get a chance to see how the community and space react to it.
Tsunade (the current lottery NFT) will be your entry for this week and next week. After that it will be a new NFT.
Links
- $Naruto2 tg: https://t.me/NarutoBSC
- $Naruto website: https://jutsuswap.com
- $Naruto medium: https://medium.com/bscnaruto
- Smart Chain Apes tg: https://t.me/SmartChainApes
Thank you for joining us! We hope you had a great time.
