Recap of AMA with Austin Kimm, Choise.com COO | April 25, 2022

Speaker: Austin Kimm — Co Founder and Chief Operating Officer at Crypterium and Choise.com. Experienced results proven financial services CEO. Built companies with a current valuation in excess $500 million.

Almost every investor holds the token for the short-term without understanding the long-term value. So, how can you ensure for us that holding this token is more beneficial for the long-term and what is your plan to increase the demand and scarcity of the token?

“There are 3 parts to the price of a token, the supply, the demand, and of course the perception. Right now perception plays a much bigger part that the Supply and Demand. It is hard to see a case for a pure supply-demand logic on any altcoin out there. Therefore perception is the main driver.

But let’s not forget supply demand logic. Choise.com has sold approximately $5m of CHO tokens. This is essential to start off the market place. With no tokens, there is no market. When the tokens hit the market, there will be just 2m available, at a market price of $0.2, or a total market value of $400k. Therefore Choise.com has much more available liquidity than there are tokens available. This ensures that if somebody decides to sell early, there is a ready and willing buyer.

Next we will have a reward mechanism that gives people higher returns in our token. If the price of the token on the market is appreciating, which bearing in mind my last comment, it should, then many people will take the token option since they can get more and realize that they can sell immediately without risk. Again this is positive for Choise.com, since we earned the reward in a stable coin so again can purchase the tokens that hit the market.

But not everybody will sell, as there is increased reward for holding. Therefore, in this case, the supply on the market is managed below the need.

Now if we can add in a very good marketing campaign to support all of that, and build up the expectation of success, as well as actual success, then supply demand and Perception are all pointing us in the direction of a positive token price.”

How did it go in Miami? Any interesting news to share?

“Miami is a crazy city during Bitcoin week, but there are so many partnership opportunities. Everybody is there, so if you want to see something new and interesting this is the place. Found at least 4 very good DeFi partners as well as several B2B partners for our card program.”

What is the value of NFT collection for people?

The sale of NFTs that include CHO is a bit of fun, with real benefits. We think this is the first sale of its kind and of course it reflects the fact that the previous sales of tokens were significantly oversubscribed.

This way people can still get to buy CHO, there are no ‘dead’ NFTs, and some people will be lucky and earn many more CHO or have quicker release schedules than they would have done if they had just bought the CHO directly.

If you are like me, the idea of knowing that we are still getting something of value, at least of value equal to what you paid based on current prices, but you can get much more if you are lucky, is an attractive way to buy something.

There will be no losers, only winners with some winners getting more CHO, others with better release schedules.

It is a fun way to buy, and a great way to advertise our new token to a wider community.”

You are on your way to creating a beautiful ecosystem. Another part of the ecosystem, Crypterium, has been successfully listed on one of the world’s biggest exchanges. Do you think you will achieve this success with a CHO token?

“Yes, we had a great month for token listings, and being selected by Coinbase is clearly a sign that they believed in our project.

Exchanges make most of their money through trading, so they only list tokens that they believe will have trading volume (we were one of the top trading tokens in Coinbase with approximately $150m in trading volume on the day we listed).

Whilst we cannot say for sure, it does seem too big a coincidence that whilst we are promoting the CHO token and the business logic behind it, probably the most respected crypto exchange decides to list our existing token.

To me it says they looked at what we are doing and believed in the vision, therefore customers will want to own the token which means more trading for them.

However, it is no guarantee that we will be able to list on the same exchanges. Our plan is fairly simple.

CHO is a decentralized governance token with many earning benefits. We will at first launch, therefore, on a few decentralized exchanges, such as PancakeSwap (just an example) where volume is not massive, but it ensures that there is a market for CHO and we can get the word out.

The initial supply of tokens on the market is relatively small (see earlier comment), whereas we believe the demand will be high, therefore with luck, this will lead to an appreciation in the price of the token.

Once we have a solid base to work from, we will list on one of the main Centralized exchanges.

We are working on all of this now, but there are no guarantees which exchanges will be first. We are only part of the equation, we need the support of the exchanges as well. But of course, the fact that CRPT has had a successful run on the CEXs is a very positive first step.”

Do you think that the MetaFi ecosystem you want to create will be adopted by people and will break new ground?

“We are only just at the start of the MetaFi, which will mean different things for different people. Over the past 5 years or so, Crypto has gone from the public perception that it is a scam for criminals to move money, to being something everybody has heard of and wants to be part of.

Regulators have started to flex their muscles (always late to the party, but it is still a positive step of acceptance) and major businesses are actively promoting crypto, such as Morgan Stanley, Paypal etc.

So the MetaFi is just an idea people are now putting out there. Somebody asked me a similar question over the weekend and I will give the same answer.

Imagine that you went to your bank today and they had 2 savings accounts. Savings account A gives you a 1% APY and invests that money in traditional means such as lending. It is 99% secure but what is the point of this if inflation is say 7%.

Savings account B will give you a 10% return. It will take your fiat currency, and convert it into a stablecoin, and that stable coin will then be used to provide liquidity (which is not much different that providing fiat currency for a loan) before being converted back into Fiat at the end of the savings plan.

Now let’s assume that Stablecoin is regulated (as the UK has announced recently and is in my opinion an inevitability), so instead of 99% secure, it is, say 98.5% secure.

In fact, the bank could make it 100% secure but using some of that 10% to insure it.

This may involve lots of steps, such as decentralized smart contracts, various swaps, complicated cross chain bridges, but it is all doable. And we are only 12 months into this type of thinking, where will these ideas be in 5 or 10 years time?

Our challenge is to get the non-crypto users across this mental divide. To start to understand that the metafi is a way to make real returns on assets that are in effect just as safe as traditional methods, but many hundred times more existing and rewarding.”

It seems all Crypterium’s staff efforts have now been channeled to the development of Choise.com and leaving Crypterium’s project. How will you convince your loyal Crypterium’s users to key into Choise.com project?

“Choise.com is only possible because Crypterium has built it current infrastructure. Choise.com is Crypterium plus an ability to earn more through the Charism platform. Earning more does not work if there is no way to buy in or cash out.

But we do have to recognise what is a hygiene service and what is a value add service.

When we set out the questions were ‘what is crypto, how do I buy it, how do I spend it’ Crypterium and many other companies have answered that question. Having an ability to buy or cash out is no longer a killer feature. Visa mentioned in a recent panel discussion I did for Marqeta that they have 70 card programs that are Crypto based. Not a huge number compared to Fiat, but also no longer a unique feature. Payment whilst not yet a hygiene factor, are an expected feature.

The question that people now ask is how can I make money out of crypto, and the best way to do that is in DeFi. But this does not work if all the existing CeFi is not already in place. Choise.com is Crypterium, but with an additional function of earning.

Also, a lot of the benefits of Crypterium may not be seen by the general community. Over the past few months we have dramatically improved our B2B capability.

We can now issue globally powered mastercards and bank accounts to almost any business anywhere in the world. In April alone we have signed 7 letters of intent. Any one of these companies, or the other 40 we are working with, could one day be bigger than Crypterium and Choise.com, and this needs that Crypterium infrastructure.

If the Defi is successful, more people will use the CeFi for Crypterium. That is what we believe puts us in the driving seat, we have the whole package, not just part of the solution.”

Do you like the idea of NFT sale yourself? Don’t you think it is too much for one company?

“NFTs are all the rage and there are clearly millions of people who are very excited by them. Just look at how much money is being spent on them at the moment. Similarly if you look at what the gaming world is doing, loot boxes or treasure boxes are a core mechanism for getting gamers into the game and engaged or excited.

In fact, if you research deeper how most IDO’s work, there is a huge element of gamification.

Therefore when you are launching something new, it makes sense to approach all angles.

Of course NFTs with integrated CHO are not going to attract any new non-crypto users. But if combining a new token with a gamification element to a community that is already interested in these things gives us more traction into a very important market, then why not.

Especially if the first sale was oversubscribed.

This is clearly not a long term core strategy, but it is a very cool marketing feature to announce ourselves as being an innovative company that has something on offer to a very attractive target segment.”

You want to create the MetaFi ecosystem by bringing a new breath to categories such as Defi, Metaverse, NFT, Web3, and things are going well with the Crypterium project. In how many years on average do you think your ecosystem will reach full strength?

“There is no end in sight, there never is. Until 2 years ago I had never heard of NFTs and even now most people can only think of them as a form of digital art. NFT is a digital marker that can not be changed confirming ownership.

There are potentially millions of uses of NFTs, but I am not smart enough to come up with more than a few.

I can see how NFTs and real estate are made for each other, I can see it being used for medical records, or identification, supply chain evidence (the history of diamonds for example).

The same is true for Web 3. Ask three experts what it even means and they will all give you a different answer.

So our idea of having CHO tokens inside NFTs is just one idea of millions that will be developed in coming years.

Right now we are focused on Metafi, a combination of CeFi and Defi, but that will clearly be very different in 5 years time than we are imagining now.

In other words, sorry but I just don’t know what will be next, that’s what makes this space so exciting.”

Why is the price range between 0.3–0.5 BNB per NFT Pack and not a fixed amount? So will 1 BNB get me 2 or 3 NFT Packs?

“This was just to give a range so that people would have a feel for what is involved, the price will be same for every NFT, it will be defined before sale starts depending on the exchange rate on that day.”

Where will the tokens be stored? I don’t know this option in NFT?

“After the Token Generating Event (TGE) people can claim their tokens. At the point of claiming the NFT it will be burned, and tokens distributed to Crypterium app, to the main account or saving account depending on lockup conditions. it really is quite a simple process that the buyer will not need to get too involved in.”

Will the NFTs be available to trade on any nft marketplace?

“The NFT itself is not Art, or an object that can be owned after it is opened. Think of it more as a box that contains CHO, and once opened, the box has no value, it is what is inside that matters. So no, there is no chance to sell the NFT once purchased, but of course, the contents of CHO will be valuable.”

Stay tuned to Choise.com announcements as there is so much more to come! The beginning of our new adventure will start with the release of a new CHO token.

Choise.com to-be-released platform will be the ultimate solution for the modern individual, bringing all the possibilities of centralized and decentralized finance — at your fingertips.

Find out why more than 650 thousand users trust us and use our solutions daily — follow us on social media and join our Telegram Community and Telegram News channels!

Social Media

Twitter https://twitter.com/ChoiseCom

Discordhttps://discord.gg/gkcrQjcEFY

Telegram Communityhttps://t.me/Choise_com_Chat

Telegram Announcementshttps://t.me/choise_com

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Choise.com is innovative crypto solution that combines all the advantages of CeFi and DeFi (centralized and decentralized finance) services