Launchpool AMA Recap — Raiinmaker
Launchpool x Raiinmaker AMA Summary
Date & Time: September 24th, 3:30pm UTC
Guests: J.D. Seraphine (Co- Founder and CEO of Raiinmaker)
Host: Jean-Marc (Launchpool Social Media Lead)
Launchpool was excited to host the Co-Founder of Raiinmaker for an interactive Ask Me Anything session with the Launchpool Community.
Questions from the Launchpool Team:
Hello and Welcome all #LPOOLers,
As many in our Community already know, today we have an AMA session with the Founder and CEO of Raiinmaker, J.D. Seraphine.
As always, the chat will be muted for roughly 30mins whilst we ask the pre-prepared questions. After this we will open up to questions from the Community for 15 mins or so.
Hello J.D, great to have you with us today!
Thanks for having me! Excited and grateful to be here.
It is indeed my pleasure. Let’s jump right in. To get things started; would you please share with us a bit about yourself, your background and your involvement within the space?
Sure, in addition to being an entrepreneur I have been a producer for 15 years. Some of the projects that I have helped produce and finance include Rock of Ages, Hesher, Growing Up Smith, and Sirius to name a few. On the feature documentary Sirius, we crowdfunded the entire budget of over half a million which is amongst the highest crowd funds in history for a Documentary and released the film 11 months later on a TVoD release ourselves and did over $1M in sales in the first 2 weeks with 100% of the sales driven by the community. I realised at that moment that there was a powerful new model when you can properly align the incentive of a project or brand with the community and started looking for a technology to scale and automate processes that we executed largely manually. About 5 years ago we came into the Blockchain space and saw the potential for how it can disrupt so many industries in a positive way and power what I call the Solution Revolution and specifically began working to apply it to the media industry. That’s when we started developing the platform that would become Raiinmaker.
We launched one of the first feature films financing on blockchain for our film Atari that we are producing with Leonardo DiCaprio and his company Appian Way and I saw there was a story no one was telling around the crypto and blockchain revolution so we produced the first TV Series to release on Cable that was 100% Crypto funded called Open Source Money which released on Discovery Science last year. Along the way we begun developing Raiinmaker and spent the last few years and over a million dollars to create the platform and this year moved to scale and launch it.
That’s awesome! I’m a big movie fan myself so I’ll definitely be checking that one out!
It seems you guys are accomplishing a lot, could you tell us about the rest of the team? (backgrounds, experience, etc.)
Definitely, blessed to have a great team and still building. My co-founder Benjamin Gerry has worked on films that have grossed over $1 Billion at the box office, won an academy award, and included stars like Tom Cruise, Colin Farrell, Jamie Fox and many others. Our other Co-Founder Jonel Cordero was the COO of Disney incubated Enterprise blockchain company Dragonchain, and also ran his own digital agency prior to that. Head of product Ray Parker has worked as a product manager for Boeing, Oracle, and Microsoft. Our Emmy Award winning CBO Earl Jenshus has worked for some of the biggest Entertainment and Tech brands on the planet including ABC, Discovery, and Apple just to name a few. We have a few new additions we are excited to announce in the coming weeks. Joe Roets our CTO, is a senior system architect and technologist with a resume that includes the Walt Disney Company, CoinBase, Overstock, the DOD, and the FBI.
We’d certainly be looking forward to those announcements.
Can you tell us, what problem are you trying to solve? What is the overall vision for the project?
Yes to summarise it succinctly, Raiinmaker is built to transform the way that projects and brands connect with their fans and community through democratic distribution of rewards and incentives created through digital influence and social value. In essence, we are redefining the fan equity model in the social media and digital influence space.
Would be cool if DiCaprio rewarded me for watching his films…. although to be honest, I’d watch them for free.
We will make sure people are rewarded for talking about his films on social media creating value for their brands which should be shared democratically
Can you explain how are you differentiated from other similar projects?
We are built on a hybrid Blockchain architecture, and utilising a proprietary layer 2 consensus algorithm called Proof of Influence, we track social actions across multiple networks and hash proof on top of public blockchains including Bitcoin, Ethereum, and Binance Smart Chain. Those aggregated social proofs are then used to transparently distribute fractional rewards to community driving Social Engagement and creating value. On Raiinmaker any Token from any blockchain can be staked as the reward pool to incentivise fans and community to promote campaigns to social media. This differentiates us from many of the social Token and other projects working to unlock the power of the fan equity model.
Sounds exciting! I love the possibilities Blockchain technology creates!
Where are you at in your roadmap? Could you please talk us through the next steps.
We are moving from the grow to scale phase as we launch the public app which is live for Android and iOS users and also the token to public markets next month.
For the blockchain rewards integration Ethereum is complete and we are completing integrations with 20 other blockchains including Cardano, Flow, BSC, Bitcoin and others which are on track to complete next month. Also we are working on improving our proprietary Quality Score for Influence driven by Raiinmaker users adding in AI which will be complete by the end of Q4 2021. On the UI/UX side the app is in the midst of an update and upgrade that is wrapping up over the next few weeks.
And lastly we are constantly working to upgrade our social network integrations and improve User Experience and improve the Data that we can track to improve the dynamic proof of Influence algorithm.
Interesting that you’d mention growth stage because my next question is; how was the project funded up to this point? How will the funds from the AME be used?
We funded the development for the first few years with our own capital to the tune of over $1M. This Spring/Summer we started raising capital through Strategic and Private Sale. Funds from the AME will be used to continue to expand Marketing efforts as we launch the token and platform to market, finance operations, and fund the further technical development of the Raiinmaker App and Platform.
Sounds like you’ve got a well thought out plan! 💪
Are there any strategic partners (excluding Launchpool) that you can share?
We have a great list of partners and investors including Jump Capital, Axia8, Alphabit, Krypital, Everest Group, Alpha Sigma, to name a few.
We are in talks with a number of the largest Game-fi and NFT projects and companies who will be launching campaigns on Raiinmaker in the next few months.
Also we are in the midst of a launch for the app that is powered by a charity campaign called #GlobalFieldDay where 20 Athletes, Celebrities, and Influencers are promoting on Social media and Raiinmaker challenges to raise money for charities supporting oraganizatoms battling Climate Change, supporting Youth Empowerment and Entrepreneurship.
Nice. What made you choose Launchpool as your launchpad partner for the AME?
I like the team’s philosophy of how they curate their community and approach to the process. Subsequently I have heard good things about the community from other projects.
Indeed, we believe in a #CommunityFirst approach to the way we do things. Without Community there’d be no Launchpool.
What is the total allocation you’ve set aside for the Launchpool Community? Are there any limitations or is the Allocation Mining Event open to everyone? Please list any countries that are excluded from the allocation event due to regulatory reasons.
There’s a $500k allocation in total no restrictions.
What happens after the AME? Could you talk us through the tokenomics: total supply, initial circulating supply, initial market cap, initial vesting, total vesting period (from launch until when will the last token be vested for), etc.
Total supply is 1 billion tokens, but 90% of those are locked in a smart contract on ETH and are released in small tranches every 28 days based on the amount of activity on the Raiinmaker network. The initial circulating supply is 100M tokens, initial market cap is $33M based on Private Sale Round price, 10% releases on TGE for Strategic Round and 15% for Private round with remainder vesting over 10 months for both.
What are the use cases for the token? Do you have any mechanisms planned to support the DeFi component (staking, burning, earning, spending, etc?)
The majority of the tokens released every 28 days are distributed to campaign traders and users creating value on the raiinmaker network.
The token is the gas of the Raiinmaker Network and Powers all of the campaigns and Smart Contracts. Users and campaign creators are rewarded with significantly larger portions of the tokens minted every 28 days if they keep/stake their rewards on the platform.
Sounds cool. Really looking forward to taking part.
Where can we join your community? (twitter/telegram/discord/etc)
Thanks man, really stoked to be joining the Launchpool community
Telegram — https://t.me/raiinmakertalk
Twitter — https://twitter.com/Raiinmakerapp
There’s our telegram and Twitter profiles. Also feel free to reach out to me directly on telegram or Twitter.
Okay great, our Community will definitely be following your Socials closely!
That brings us to the end of the pre selected questions. We will now open up the chat for questions from the Community.
Questions from the Launchpool Community
What made you to start this project? Can it follow advertising regulations of all countries. Do you have any competitors or this is the first of its kind?
We started the project because we were looking to build a platform to realise our vision of harnessing the power of the crowd.
Advertising regulations across countries do tend to change especially in the post Facebook data breach era. Currently we are able to operate worldwide.
There are many social token projects and a few that focus on also revolutionising the fan equity model. I don’t think there’s any that take the approach that we do to the process or have the level of mature technology as we have been building for over three years.
I’ve seen many networks of your kind but the downside to those platforms is the fact that they limit their community membership to some particular countries and mostly leave other countries out, especially Africa. Who is the membership of your community open to?
The Raiinmaker network is global and will be inclusive of all regions and countries. We are already talking to groups with significant reach amongst crypto communities in Asia, Africa, and the Middle East. Obviously we have strong connections already in North America and Europe because of our projects geographic positioning.
You mentioned that any token from any Blockchain can be staked in Raiinmaker have you put into consideration the problem of Interoperability from using cross-chain model?
We operate on a hybrid Blockchain architecture that is able to integrate with multiple blockchains seamlessly. There’s a ton of great bridges that are being built as we speak and we are leveraging a lot of great tech that has been developed by various blockchains and projects to accomplish the cross chain reward integrations.
Do you have any influencers/actors/singers that you can announce backing the project?
If you look there’s a growing number of influencers, athletes, and celebrities who are already on the app running campaigns for our initial #GlobalFieldDayCharityInitiative
We will be announcing more partnerships in the coming weeks :-)
Are you currently on track to reach all of your 2021 roadmap milestones and which stage are you most excited about?
Yes we are on track to not only reach those milestones but actually to reach other milestones that have been added even in just the last month or so. I’m very proud of our technical team who have been frankly killing it.
Can you tell us some of the latest achievements made by Raiinmaker & can you describe in details the current development efforts, such as market expansion plans, expected applications & new upcoming program of events and information updates?
I think the greatest achievement is around the money that we’ve been able to raise for charities we are supporting with #GlobalFieldDay. Through those campaigns we have already added thousands of users to rainmaker including 1100 in just the past five days alone. We are on track to be over 10,000 users by the end of October. Also I’m engaged with talks with some of the biggest NFT, game Fi, and block chain partners to launch campaigns and partnerships as we move to lots of token to market.
What are the plans of Raiinmaker in place for global expansion, are you focusing on market at this time? or focus on building and developing or getting customers and users, or focusing on partnerships?
We have engaged some great marketing teams from various geographic regions across the world who will help us to penetrate those markets effectively.
Has your project been audited? how about the system, is Raiinmaker safe from hacker and cheater?
Yes our token contract has been audited by Zokyo labs Who is run by Hartej Sawney who is amongst the best in the business.
NFTs have gone full mainstream, with artists, celebrities, and tech entrepreneurs embracing their potential. What excites you personally the most about the NFT space?
I think it’s exciting to see the potential for so much creativity to be supported and Artists to finally be empowered to get their fair share. The applications across every creative space is exciting as well.
Investors seem to only care about the price of the token instead of the real value of the project, how does your team attract newcomers and keep members long-term with the project?
I think we have always maintained a long-term vision in terms of the philosophy of how we approach the company, the product and technology, and how we have grown our team. Although it’s important to have a healthy token to support the ecosystem, the most important thing for us is to stay true to the fundamentals that make our product unique and separate our brand from the rest.
Can you list some great features of Raiinmaker that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
I think our hybrid Blockchain architecture which allows us to remain agnostic and integrate with multiple blockchains is one of the key differentiators. Also we have positioned the application to be user-friendly for non-crypto native users which allows us to immediately go to large untapped populations and bring them into the ecosystem without forcing them to learn about how to operate in the cryptocurrency space when we all know the learning curve can be quite steep.
Also I think that being able to stake reward pools with any tokens from any blockchain is a key differentiator compared to other similar projects.
We all know that the majority of real life users don’t know what blockchain is all about. How will Raiinmaker team bring the adoption & education on blockchain to these ones?
We built the application so that it can be used by anybody whether they are crypto native or not. Even the rewards themselves can be redeemed either for tokens, or in our app we have built a rewards store with digital gift cards from hundreds of retailers around the world. We believe many users will choose this option which also makes it so that less tokens are hitting the secondary markets which will help support healthy Token Price.
The cryptocurrency market is increasingly competitive, especially Defi. What is your unique “selling point”? and how will you take advantage of it?
I think our cross chain reward integrations is a key differentiator for the penetration into the cryptocurrency/Blockchain market. our deep relationships and experience in the media and sports sectors also is a key differentiator as we move to penetrate more main stream markets with an app that is frankly built for anybody to use.
After reading several reviews in social networks about your project, I realised that the development of the project is difficult. It is believed that the team seems like one of the hardest working out there. So what are the real difficulties you faced on the path of becoming your project, did you overcome all the obstacles and does your community support you, which is very important?
I appreciate the compliment because I do believe we are one of the hardest working out there! I definitely pride myself on not only pushing myself but the team to strive for excellence every day. We do it not just because we want to be successful financially but because we are committed to making a positive impact in the world through our efforts with Raiinmaker. When you are aligned with this type of philosophy you are unstoppable.
At this point, do you think you need endorsements to grow Raiinmaker ? how is your team promoting it?
It’s always great to get strong endorsements, and we will definitely be announcing many great partnerships in the coming weeks.
Does the Raiinmaker team have a training and guidance system for newcomers to cryptocurrency? How do you attract and reach them?
Our app inherently is built for anyone to use :-)
Another byproduct of what we are doing is bringing non-Crypto native users in to learn and connect to projects in the crypto space that they may not have seen otherwise.
Will you divide influencers into different tiers if so what are they?
We are not dividing them into tiers but obviously those that have a much greater amount of influence will have the ability to mine a larger portion of the reward pools based on the engagement that they drive. We do have an influence quality score which overtime using AI and machine learning will be dynamically weighting the rewards given to users based on the quality of their influence for a specific campaign.
Can I know whether your platform requires KYC to claim prizes or rewards?
The reward points can be redeemed for either a token or a digital gift card from hundreds of retailers. Once users reach a certain threshold of reward redemption there will be a KYC so we can remain compliant with laws and also for tax reasons. We have a Decentralized digital identity system for identity data and that also connects to our KYC system as well which in and of itself is revolutionary
Will your team consider community feedback during the creation or Launch of your product in order to expand on fresh ideas for your project?
Definitely, you never know where the best idea is going to come from!
I think I covered all of your questions but feel free to reach out directly in the future as well. Very excited to be a part of the Launchpool family
We’ve now come to the end of today’s AMA with Raiinmaker
If you’d like to continue the discussion, feel free to join in their Community: https://t.me/raiinmakertalk
It was indeed a pleasure @JDSeraphine 🙏
The Raiinmaker Network is built to revolutionise the core components that drive the creation and distribution of Social Value and Digital Influence for companies, content creators, fans, and communities.
Launchpool leverages communities, knowledge, expertise, contacts and capital to provide crypto projects with the best possible start to life, maximising their chances for success in this fast moving & dynamic space.