UCROWDME AMA RECAP : Cryptoscreen Community
Earlier today the Ucrowdme team joined the Cryptoscreen Community Telegram to connect with the community and answer any questions they had relating to Ucrowdme mission, tech, progress on our journey so far, recent updates and our plans moving forward. Greg Griffith Founder Ucrowdme & Giselle Ceo Ucrowdme took part in a particularly exciting AMA session which included introductions, questions from twitter, and a live AMA session with the Telegram community. If you missed the AMA live, have a read through this recap to gain some deeper insights into Ucrowdme.
Can you introduce yourself to our community 1 by 1
I am the Chairman & Founder of UCROWDME and have spent the last 20 years working with Fortune 500 companies, Government, Startups across technology in a sales, leadership and operational roles in the UK, US, Australia and Asia.
I am the CEO & Co-Founder of UCROWDME. I have over 20 years experience in senior sales and marketing within media and publishing. I have worked internationally in the USA, UK and Australia working with some of the worlds biggest brands, generating significant revenue.
Can you explain to us what is UCROWDME?
Global ideas marketplace where ideas/insights can be monetised to global citizens from interested companies on the platform (Subscribers). Goal is to make innovation and consumer insights affordable for most global companies. Global Citizens can either auction or sell their ideas at a fixed-price or can post their insights/feedback directly to their favourite brand. The AI-engine is there to validate all ideas/insights so that only the best are received and reviewed for monetisation.
What concept do UCROWDME have?
Ebay for Ideas powered by Netflix Intelligence (AI, Machine Learning Algorithms)
Do UCROWDME have token utility? If have, whats the purpose of UCROWDME Token utility?
UCROWDME’s token utility or purpose is to protect the intellectual property that is generated by ideas/insights on the platform. The tokens are supported by this IP along with the many rewards (gamification) that can be learnt through challenges and ideas/insights that are submitted. The token can be redeemed within our global marketplace against 1M+ rewards via Amazon/ePoints.
How much supply is available for this token? And where are these token allocated?
100M total supply. 60M available for purchase.
Public Sale: 35,000,000 tokens Pre-Sale: 15,000,000 tokens Private Sale: 10,000,000 tokens Token Burn Reserve: 10,000,000 tokens Founder: 14,000,000 tokens Advisors/Other: 6,000,000 tokens Bonus & Referrals: 10,000,000 tokens
If i want to buy UCM Tokens, where should i buy it? Ans what is the price for one token?
ProBit Exchange: https://www.probit.com/en-us/ieo/ucm-round1/2
Price US $0.05. Round#3 Bonus is currently 100%
What program is currently running besides IEO on the Probit Exchange?
We previously had an AirDrop campaign that recently finished that has helped us build-up a large, engaged community. We are now just focused on supporting, maintaining and growing these communities. UCROWDME will be considering a staking program in the coming months. Building our our ambassador and partnership program will be our main focus.
What makes you think that UCROWDME will be successful in the future? What are you prepared?
We are fusing 2x existing markets together that collectively turnover $30B USD in revenue globally. These markets are growing CAGR 15%+ per annum.
We have 24x revenue streams and 4x subscription models meaning that we have spread out any revenue risk to the business.
We have 2x paid pilots giving us access to 7M users before soft-launch!
We will have another 30x paid pilots signed before soft-launch in Singapore/ASEAN and we look to target 60M registered users for the official launch in Mar/Apr’21.
This business concept ‘Ebay for Ideas’ has never been done in this format yet is done in a more formal, corporate manner so we know the framework is there and currently works but will be 10X more effective by engaging global citizens.
Can you give an overview of your tokenomics?
Will the design of the token rise and fall with the success of the platform, does it include any scarce paths, such as equity, storage or burning?
We believe that the tokenomics we have in-place will not only support the price in the short-term but long-term as well. We have included lock-up periods, we have 40% kept internally with even longer periods and we have 10% available to burn and/or buy-back. We will also review if staking is going to suit our strategic objectives.
The #UCROWDME platform is used for building e-commerce applications, so what advantages do those Dapps have over the traditional e-commerce platforms?
UCROWDME’s e-commerce position is focused on the rewards and monetisation of the ideas, insights and redeemed tokens.
We are an ideas/insights marketplace or exchange first and foremost with our trademark ‘Ideas as a Service’ positioning UCROWDME as a SaaS company focused on innovation etc. We are not really a traditional e-commerce platform other than the payments/rewards we offer.
Every industry is severely affected by the egregious situation of the Covid-19 outbreak. Does it affect the growth of $UCM and its? What are your plans to turn challenges into opportunities for $UCM development?
We personally believe that the unfortunate Covid-19 pandemic will help UCROWDME because we are offering another channel for global citizens to make extra cash/rewards by submitting their ideas and insights on our platform. This was the case with Uber and AirBnb with the last global recession. We strongly believe this challenge will create many new opportunities outside of just rewarding global citizens with cash/rewards but more importantly drive stronger global innovation from all companies not just the large ones etc.
What is the crucial thing in your opinion that whould increase adoption of #Ucrowdme and possibly the rest of crypto. What’s the #Ucrowdme economic model and how will it is architecture ensure scarcity of the token and help to growth token price?
We believe that our adoption model will be organic through both opportunities to earn rewards but also for companies of all sizes to engage their customers that have been left aside for so long. Even companies that have tools barely know only 30% of their customer base so we are here to bridge the gap or the voice of the customer as it is known. We have 24x revenue streams, 4x subscription channels based on a per country model (193) so that revenue risk is reduced. The architecture enables that all intellectual property is secure, time-stamped, audit-trail while being validated with our AI-engine to make sure that the IP created is unique and hopefully valuable.
What are the benefits that ucrowdme receives when using all three common consensus mechanisme today, Existing Pilot Agreements, Creating a new Software Industry 'Ideas as a Service’, Unmet Market Need? What are the advantages and disadvantages of these consensus mechanisme?
Benefits are pretty simple from our perspective 🙂
1. Paid Pilots generate net-new revenue on 12mth subscription before launch
2. 7million users generates net-new revenue before launch.
3. New software industry that we have created protects UCROWDME and creates a clear dedicated market that can’t be copied or built
4. We are entering existing markets but fusing them together and focusing on the social innovation aspect first so that we target the 4.57billion internet users who have ideas/insights
At the moment, all tokens go down in price even with great partnerships, hype, marketing, and working products.. So, what the challenges do you have and the plan to make UCM project strong popular? Are you see it as an opportunity while the current market decline?
Agreed. All we can do is execute our existing plans that include tokenomics please refer to technical whitepaper here and drive new partnerships like we have with our 2x paid pilots. As we shared in the ProBit AMA, using a tried and tested ‘Bowling Pin’ marketing strategy will give us the results we need without burning through cash unnecessary like many other startups.
If we can create access to 7million users in a few months we can generate access to 10’s of millions before launch. We believe the global recession spurred by Covid-19 will get worse and for UCROWDME, our timing is very strong so we can generate additional incomes for global citizens with their ideas and insights.
Does UCROWDME have the main destination country for UCM marketing? Is Southeast Asia also the main destination for UCM goals
Our go-to-market strategy will be Australia, Singapore/ASEAN and the UK first. We have advisors and presence here so it makes sense to target these demographics including where our current/next paid pilots will come from.
We will then enter into both North America/LATAM and then rest of world (ROW). Each demographic is very important to UCROWDME but again we will focus on areas that can generate quick wins while managing cash reserves for the business.
Building a true global community will ensure a successful business on every level.
Your affiliates provide users with access to rewards such as the Amazon marketplace and epoints, will you partner with other large companies in the future or will you remain autonomous?
We absolutely plan to add other affiliate rewards partners in the future and are already in discussions with significantly large affiliates that will join UCROWDME. We aim to provide only the best rewards and benefits to you, as the global citizen who wants to post ideas/insights.
What is the cost of making this project? Is that all comparable to what is achieved by now, and for the next few years? and how you minimize this and handle some problems so that they can reach the current point?
The project development costs are private and confidential. What I can say is, our software development costs are fixed and our development partners are investing a significant amount of money via their-own dedicated expert resources to our business.
As we know, every successful project has a few stories behind the scenes, what’s the story behind $UCM success? What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming $UCM updates that you want to show/share with us?
Our success has sold in excess of $80million USD in net-new revenue. Our leadership team and advisors each have very impressive professional track records that include many startups, SME’s or working closely with the worlds largest brands on a global scale.
Vision was ebay for ideas to make innovation and consumer insights affordable for most global companies while empowering global citizens to monetise their ideas/insights at scale. We have 4.57Billion internet users or voices out there that we are sure have ideas at some point, so why not monetise them and make global innovation more competitive, agile and productive!
Right now 95% of ALL new products fail!! Why? Companies are internally focused and work with small focus test groups. They do not go out at scale to their customers or really take their customers into the equation.
We will change that by a direct link while using AI and machine learning algorithms to only validate the best ideas for market execution.
Is UCROWDME project related to "artificial intelligence"? If yes, please explain how AI will undertake the UCROWDME project?
Artifical Intelligence will play a huge part of the platform. Our AI-engine will power-up 12x machine learning algorithms to automate, scale, validate and provide good data/bad data outputs that will help companies make better, smarterm faster decisions re: innovation/insights decisions.
many projects that sell tokens like IEO / ICO, etc and end up failing and bankrupt, how will $UCM pass this time?
Hi there. We have paid-pilots already giving us access to 7million users. We will have another 30x paid pilots before launch.
We will be cash positive upon launch through partnerships, 12mth subscriptions and revenue generated via users. The hardcap we quoted of $2M USD is the maximium amount of funding we need.
What is the structure of the company, is it a decentralised, open sourced protocol where everybody can contribute? If so, how does the governance plan on being handled?
Great question! UCROWDME is a decentralised social innovation platform whereby everyone can contribute outside of the technology stack. Governance is very important to us especially with GDPR and data privacy. I will say this, UCROWDME will NOT be following the paths of Facebook, TikTok or other companies that blatantly use your data.
In 20 Years of work experience in all fields you say. Are you sure you can bring the Ucrowdme Project even more successful with all your work experience?
Not all fields just the key ones that are required to make UCROWDME successful. Between myself and our leadership team and advisors we have a depth of experience that is perfect for UCROWDME. We have a close bond between our team and identifed many months ago the strengths and skills that each person brings. I also wanted our team to be global so we had a native understanding of the markets we will go after.
At this point, do you think you need exchanges as a binance to keep growing? Or is it better to forget those things and focus on other activities.
Our initial goal was to only focus with ProBit and build upon the 90,000 followers that we have. We understand that our investors and future platform users will want to see UCROWDME on larger exchanges but like anything, one step at a time. I see no reason why we wouldn’t consider future listings on larger exchanges but right now that is not a priority for our business objectives.
Is the team trying to develop any business connections western companies, universities, or governments?
We already have western companies signedup, we have universities and government ready to sign. The UCROWDME platform will be free to access on a subscription model for ALL NGOs and Government related entities. This gives us a huge user footprint while providing NGOS and Gov’t the best available innovation and insights tools for them to be more efficient.
The #UCM team is best in their work, they've kept this incredible project in it's the best state directly from the earliest starting point of its creation and to this exact instant, still with each chance of it getting by in the close and far future.
My question is :
What types of ROLES can participants play in #UCM project and how can they earn REPUTATION? Also is it possible to buy it?
What vision of UCM?
What are the UCM obstacles in achieving the vision and mission? And has it been solved?
Great question/s 🙂
UCM particpants right now as potential investors will hopefully become platform users or global citizens that post/share their ideas/insights on the platform for cash/rewards etc. You guys are very important to us!
Reputation is earnt using machine learning and other tech based on teh quality of the ideas/insights generated and/or purchased via validation.
Possible to buy UCM as in equity? Not sure I understand this part?
Our vision is to make innovation and consumer insights affordable for 270million companies globally who wouldnt normally be able to afford it.
Our vision is to empower 4.57billion internet users with a voice that can be monetised on the platform.
What is the speciality of gamification.. dows it helpful for he increase the value of the UcM ?
Gamification for UCROWDME is about motivating users to perform certin actions i.e. post ideas/insights. the more you interact with UCROWDME the more rewards, prizes, badges and tokens you will earn which can be redeemed agaisnt 1M+ products on the platform via Amazon/ePoints etc.
Gamification and Rewards will play a huge part in user adoption and one which will provdie a constant need to go to the UCROWDME platform like an idea diary or journal but with rewards etc.