AMA June 16th, 2021 | Spectre GRP x aiRight
Tags: Nft, Ama, AI, Airight, Oracle

On 16/06/2021, the Oraichain team held an AMA on Spectre GRP community with the attendance of our CEO, AI Lead and SamOrai Ambassador. We are glad that new communities are discovering aiRight and Oraichain. Now, we are pleased to recap the main content of the AMA.

1. Oraichain team attendees:

Dr. Chung Dao, CEO of Oraichain

Noah, AI Lead of Oraichain

Tyree Robinson, SamOrai Ambassador of Oraichain

Introduction:

[Dr. Chung]: I am Chung. I am the CEO and Co-founder of Oraichain, the world’s first AI-powered oracle and ecosystem for blockchains. I received my Ph.D. from the University of Tokyo in 2017. Recently, I have led the technology of Oraichain to the development of aiRight, a complete system for AI x NFT x DeFi. The aiRight system brings multiple innovations to the NFT market including NFT originality proof platform with AI and NFT tokenization launchpad for artists. I am also a co-founder of Rikkeisoft, a top-10 software development company in Vietnam.

[Noah]: I’m the AI lead of Oraichain. With my strong research background in Artificial Intelligence during and after my Ph.D. I’m very excited to work with the Oraichain team to make blockchains more functional & robust with AI.

[Tyree Robinson]: Hello! I’m Tyree. I received my BFA from Carnegie Mellon University in 2010. I am a business owner, artist, and writer. I have joined the aiRight and Oraichain as a proud SamORAI Ambassador. As an actor, I have shared the screen with some legends, such as Steve Buscemi, Michael K Williams, and Jeffrey Wright. I have been working closely with the team to connect aiRight and all of the great advantages it has to offer to the many NFT artists and collectors that need it. I am looking forward to sharing with your community today!

Q&A with Spectre GRP

Spectre GRP: Please tell us what exactly aiRight is and some of the most noticeable features the Oraichain team has packed inside aiRight?

Tyree Robinson: aiRight is the world’s first complete system for AI x NFT x DeFi. It is launched as of May 31 at https://airight.io/

The current running features on aiRight includes:

1. AI Generator: Creating artworks and instantly securing copyrights

2. Marketplace: Selling and collecting NFTs effortlessly on Oraichain

3. Gallery: Showcasing collections and artistic cultures of multiple artists

4. Farming: Tokenizing galleries and facilitating mining pools

5. AI Oracles: Verifying uniqueness of NFTs with the world’s first largest NFT database and applying for AI Oracle services to integrate into your platforms (link: https://airight.io/original-check)

Oraichain has developed its own AI Oracles to scan for similarity and originality on-chain, preventing inauthentic work from being minted on platforms implementing our oracle services. aiRight has both US and International patents pending. The AI Oracle tools will further enhance the ability of NFT X DeFi platforms to prevent fraud and infringement. We’re dedicated to growing our database, both on and off-chain, and making our AI Oracle services available to all platforms that wish to deploy it.

Dr. Chung: We are crawling all NFT data. We have a 2.4M database of NFTs now.

2. Spectre GRP: How can aiRight compete with other NFT projects? What makes you stand above them?

Noah: There are several features that make aiRight stand out of other projects:

1. aiRight NFT marketplace ensures the quality of listed NFTs: highly original, not including restricted content such as NSFW. The verification of NFT content is automatically done by AI models.

2. aiRight supports cross-chain swapping among different blockchain networks.

3. aiRight NFT Gallery implements NFT tokenization (fractional ownership) by introducing NFT galleries.

4. aiRight provides farming options for NFT gallery owners and AIRI holders.

5. Unlike many NFT projects, aiRight is fun! Try our AI Generators to create artwork and explore all of the possibilities. We will continue to add many models and eventually allow individual data scientists to contribute their models to aiRight.

aiRight will compete with other NFT projects to be the most complete system for NFT services.

Dr. Chung: We intend to expand our AI Oracle services to all widely available networks that include CosmosSDK-based, Ethereum, BSC, Substrate-based, and Polygon as well.

3. Spectre GRP: We heard $AIRI, is the multi-purpose token of aiRight. When will it be available and what is the initial price?

Dr. Chung: $AIRI will be listed on PancakeSwap tomorrow at 15:00 UTC.

The initial price is $0.0025 per AIRI token.

The initial market cap is $350,000.

4. Spectre GRP: Could you share more details about the AIRI tokenomics?

Dr. Chung: Sure, I have a figure here.

AIRI, or aiRight Token, is the foundational token of aiRight with three main objectives: (1) governance, (2) farming, and (3) utility.

1. Governance: AIRI holders have the right to participate in governing the policy decisions on aiRight platform that include the service fee rate, buyback and burn policy, farming rewards, profit sharing, as well as all future utility integrations.

2. Farming: AIRI tokens are the rewards for yield farming on aiRight via Gallery or Gallery Token Pool.

3. Utility: AIRI token lives in Binance Smart Chain (BSC), but it will rely on its own token, not BNB, for its services; therefore, some services such as NFT marketplace, gallery creation, and the farming fee will require AIRI tokens for payment. This is a rational choice to build an internal economy within the aiRight system.

One more thing: AIRI buyback and burn

When the aiRight system operates, a portion of profits which are gained in form of service fees (NFT marketplace, gallery, and farming) will be used for AIRI buyback and these tokens will be burned too. This is to create greater deflationary pressure and value of AIRI tokens.

5. Spectre GRP: When can we farm AIRI on aiRight? And what are the farming options?

Dr. Chung: Farming on aiRight will start 2 hours after AIRI listing, meaning at 17:00 UTC tomorrow.

Here: https://airight.io/nft-farming

👉 Farming AIRI/BNB: 300%~ APR

👉 Staking AIRI: 50%~ APR

Currently, you can farm our gallery token as well. The first gallery on aiRight: “The Warrior”

6. Spectre GRP: Very cool! Speaking of the gallery…What is the NFT gallery and farming on aiRight?

Tyree Robinson: We consider our gallery an “NFT Tokenization Launchpad for Artists”. The NFT gallery feature helps to tokenize NFTs and make non-fungible assets more tradable and accessible. Users can quickly create an NFT gallery and sell/buy the gallery tokens.

aiRight’s tokenizable galleries present a host of new opportunities for artists, collectors, and businesses. We have made it simple for curators to tokenize their galleries and, to further encourage adoption, aiRight will regularly accept submissions from artists, collectors, and celebrities for its NFT Tokenization Launchpad.

We will be announcing our first celebrity gallery soon! Stay tuned to Oraichain and aiRight Official Telegram channels for up-to-date information.

Also, we intend to make aiRight’s NFT Tokenization Launchpad the premiere fundraising resource for NFTs. Participants accepted will receive one on one technical support to open their gallery and issue the gallery token, material support in the form of initially locked liquidity to list their gallery token on Binance Smart Chain, and design support to create a unique and impressive gallery interface. We will also regularly feature these galleries on the aiRight homepage.

7. Spectre GRP: How are artists specifically incentivized, they get a part of the revenues from sales?

Noah: We are going to offer business opportunities and technical support to artists and celebrities who want to open their galleries with us as follows:

- Open their gallery and issue the gallery token

- Provide an initially locked liquidity

- Share up to 80% of revenue from selling NFT

- Farm AIRI with their gallery token on aiRight

- Support designing a unique gallery interface

- Feature their gallery on the aiRight homepage

Farming as incentives and we also provide some technical supports for their specific needs, we protect their copyright and originality. And provide a DeFi tool for their NFTs via galleries.

aiRight is already a running product. But let’s have a look at our roadmap too

Q&A with Community

There’ll be NFTs in the aiRight ecosystem so what will be the purpose of $SamOrai?

Noah: $SamORAI is the first gallery token issued on aiRight as a demonstration of Gallery and Farming features.

Each gallery in the future can be tokenized into a specific gallery token.

But the governance token and main token will be $AIRI.

2. How does an owner of a gallery set their own tokenomics for their gallery token?

Dr. Chung: After creating a gallery, the owner will have all of the gallery tokens (e.g. 10,000 gToken).

He/She will decide his/her own tokenomics. For example, we allocate 65% gToken of our first gallery for farming.

We will provide several tokenomics examples, so the gallery owner can reference them.

3. Is aiRight targeting the enterprises as its primary users or the individuals?

Tyree Robinson: As the technology has many use cases, we are approaching adoption on multiple fronts. As mentioned in this AMA, we are already deploying AI Oracle services to NFT projects such as Fomo Lab and Drops. We are supporting the individual artist and collector through our NFT Tokenization Launchpad. We also believe our tokenized galleries can be a great benefit for many small businesses. aiRight can be a powerful marketing asset, generating social engagement for brands of any size.

4. Most of the farm coins suffer from high APY and are constantly printing new tokens. For example, I farm $AIRI, receive more $AIRI, and throw away my extra tokens. Most of the farm coins have failed and will fail on Token Metrics only. How do you offset the selling pressure?

Dr. Chung: Farming and inflation will be adjusted via governance proposals.

We also have AIRI buyback and burn: when the aiRight system operates, a portion of profits which are gained in form of service fees (NFT marketplace, gallery, and farming) will be used for AIRI buyback and these tokens will be burned too. This is to create greater deflationary pressure and value of AIRI tokens

5. I’ve checked some aiRight’s features and one of the features that stands out to me is the “NFT Originality Check” I think it’s kind of awesome to check whether the NFT is original or not. My question is, I wonder whether in the future this feature will not only be indexing pictures from NFT but also pictures from all over the internet? This comes to my concern because some NFTs are stolen from artists that upload their arts on social media but know nothing about NFT and people are taking advantage of that.

Noah: The current NFT database is for indexing NFTs across chains.

In the future, we plan to implement a Copyright registration hub for artists so that they can register the copyright towards their works without actually minting them.

This is to support traditional art (not only digital art) and to prevent plagiarism.

6. aiRight is an awesome platform with its use cases and utility. How did you come up with this idea and what is your motivation to get this far?

Dr. Chung: We wanted to build a use case for Oraichain which utilizes our AI Oracles and DeFi innovation and observed the need in the NFT market ===> aiRight is born.

Some aspects of aiRight are patent-pending concepts, which we’re filing to US and International offices.

7. I’m reading currently that aiRight is based on 2 tokens, AIRI and the ORAI interpretation, so why are two tokens based? What is the difference between the two tokens? Will this determine your strategy for choosing a local, zero-base stable coin later on?

Next, What Method will aiRight use to achieve global adoption of its stable coin?

Dr. Chung: “Okay, aiRight is great and AIRI token is promising. But why don’t we use the ORAI token as the governance token of aiRight as well?”

- Oraichain’s mission is to secure and validate AI on-chain for various blockchains, so it needs to remain a governance-minimalist (like other L1 chains). The goal of Oraichain is to provide the base layer of functionalities to a much broader set of applications, and while aiRight is an exemplified one, many unique applications will be built on the Oraichain Mainnet. Consequently, being minimalist in governing policies that are essentially related to the AI and Blockchain ecosystems on Oraichain is necessary.

- Specifically, aiRight consumes the AI Oracle services and ecosystem of Oraichain to provide a wide set of unique AI x NFT x DeFi features, such as AI-based NFT generation, NFT marketplace, NFT gallery, and NFT farming. It’s undeniable that the sharing of the overall profit and decision on how the reward distribution should be governed by solely AIRI token holders.

8. In the near future will it be possible to apply these features in some way to facilitate the purchase, sale, and registration of properties with a few clicks?

Noah: Yes! We’re targeting that by implementing a Copyright Registration Hub (eta, in Q4).

9. Please tell me more about “The Warrior” gallery and the $SamORAI token? That said how to be a holder of an NFT from the gallery? An NFT from “The Warrior” for example?

Dr. Chung: You need to buy the gallery token $SamORAI. It is the first gallery made by the team.

After that, you can buy NFTs from the gallery using $SamORAI.

It is the same for other galleries.

10. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Tyree Robinson: We have already built a complete, functioning ecosystem, ready to be populated. The Oraichain team is packed with PHDs and our team keeps growing. We are professionals and are committed to delivering solutions for AI and Blockchain. Most of the projects you speak of are anon and have built nothing! The difference is clear. You know who we are and what we are about. We will always be upgrading!

About aiRight

aiRight is the world’s first complete system for AI x NFT x DeFi. Users can generate AI NFTs, protect origin with copyright issuance, trade and tokenize unique artworks, taking advantage of our complete royalty mechanism for contributors on-chain.

Oraichain is proud to be the ecosystem provider of aiRight: securing AI functionalities via AI Oracle, accessing Marketplace, organizing Galleries for DeFi, and cross-chain bridging for NFTs.

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About Oraichain

Oraichain is a data oracle platform that aggregates and connects Artificial Intelligence APIs to smart contracts, serving as a foundational base for the creation of new Dapps leveraging AI technologies. Oraichain is the world’s first AI-powered oracle aiming to revolutionize the AI, DeFi, and Blockchain industries.

Unlike regular oracles that use raw data, Oraichain’s AI oracle uniquely uses AI APIs to consume or create data on the fly via virtual machines on smart contracts. Data quality, reliability, and security are enhanced by using test cases, which help to avoid intermediaries, increase trust and open up unprecedented application functionalities. AI-powered oracles create a new generation of smart contracts.

Beyond data oracles, Oraichain interconnects Artificial Intelligence and Blockchain technologies. With AI as the cornerstone, the Oraichain ecosystem contains an AI API marketplace, a Data & Request Hub, Publisher Service, Training Service, and Dapp Hosting.

Oraichain network provides the infrastructure and consensus mechanisms for Blockchain and AI training. These interconnected ecosystems accelerate the development of Web3, DeFi, enterprise, and academia applications. yAI.finance is the first use case of Oraichain, a DeFi platform using unique AI-based features and strategies. Oraichain AI Marketplace offers AI products and APIs with the goal of becoming the one-stop shop for Artificial Intelligence services.

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