The below is a recap of the AMA we held in our telegram group with Farah Islam the Founder of Avnrich.
Can we please briefly discuss your team background and previous experience?
FERRAH ISLAM, AVNRICH FOUNDER (https://t.me/acmecrypto/40242)
I have a master’s degree in Accounting. I worked in a company as an accounts manager, skills in asset management, financial market, investment, project management, business planning, business analysis and development, leadership, business relationship management, and also have experience in social media management.
Twitter — https://twitter.com/ngel_mou
SUBHAM CHAUHAN, AVNRICH CEO (https://t.me/acmecrypto/40245)
I have an engineer’s degree in Computer Software. I’m working on blockchain, market analysis, crypto mining for 4 years, 2 years experience at India share market, skilled in computer software, coding, cryptocurrency, blockchain, e-commerce, business planning, business analysis, and development.
Twitter — https://twitter.com/Subhamc62949538
MARY GRACE VALEROS, AVNRICH COMMUNITY MANAGER (https://t.me/acmecrypto/40246)
Hi, I feel honored, thanks, my name is Grace, the community head of AVNRich. I am skilled in community management, community engagement, customer service, graphic design, business management, development, and networking skills. I am successful working in a team environment or independently working on social media marketing creating content to drive users’ engagements and recognition.
Twitter — https://twitter.com/emperatrisgrace
AMA QUESTIONS + ANSWERS
1. Can you please give an overview of your project and what the unique features of the AVNRich platform are? (https://t.me/acmecrypto/40207)
AVNRich is an e-commerce, Indian company based in Kolkata that focuses on developing India’s largest online marketplace. AVNRich platform is created to be the first One-Stop Online Shopping platform where all kinds of goods and services are available. We aim to provide products and services which are easy-to-reach anywhere in the world. The system of payment will be used through FIAT and cryptocurrency to ensure all users are safe and secured.
AVN token is an ethereum based token for online shopping. Digital money that is utilized to purchase products and services on the public internet. For some purpose, this is used to reward customers for making use of the AVNRich online shopping platform.
1B. Nice are there any unique features that you want to highlight? (https://t.me/acmecrypto/40215)
Tracking of Orders; you can always trace the full path of your order with our parcel tracking service.
SELL ON AVNRICH:
- Allows vendors to build their own shops and sell their goods and products.
- 24/7 Call and Chat Support
- Ticket Support
- Supports FIAT & Cryptocurrency
- AVNRich Mall — your favorite brands will be easy to find with AVNRich Mall
AVN Collection: the exclusive page where you can easily find your customized products of AVNRich. We’ve created the AVNRich Collection to leverage the trust of our existing customers and supporters toward our original brand.
1c) So vendors can create their own shop on the platform. This is a very unique feature. Is it already implemented in the current platform or is it about to be implemented? (https://t.me/acmecrypto/40217)
Yes, it’s already implemented ..so anyone can create their own shop to AVNRich Shop.
2. What is the main utility of the $AVN token within the AVNRich ecosystem and what are the unique tokenomics? (https://t.me/acmecrypto/40223)
Main utility: A digital money that is utilized to purchase products and services on the public internet. This will be used to reward customers for making use of the AVNRich online shopping platform.
Total Supply — it will remain at 300M, Reward tokens of 57,692,307 AVN will only be used in AVNRich online shopping platform, whoever buys the product will be given a reward of 33 AVN token. And 65% profit of AVNRICH shop will be used in project development.
2B) Users cannot withdraw 57 million tokens,they can just use it on the platform? (https://t.me/acmecrypto/40228)
2C) So it reduces actual supply because those tokens never come into circulation? (https://t.me/acmecrypto/40231)
Correct, circulating supply is just 16.34 with a marketcap below $25k there is a lot of room to grow. We will announce officially when will we start locking to avoid inflation that causes investors to fear and doubt. You can guarantee that the team will not sell or dump the price.
3) Do you have any marketing that is planned for Q4 2020 and Q1 2021? Are you able to disclose if there will be any large influencers that will be looking to push the AVNRich products and services? (https://t.me/acmecrypto/40253)
Yes, of course, we are open to any marketing proposals, in fact, we would love to continue spreading awareness about our project to let people experience our products and services that we offer so we can boost popularity everywhere and so the AVNRich project will be known in the whole world.
AVN token is digital money that can be used to buy goods/products and services. We will Launch the android App in the 4th Quarter of 2020. It will make shopping easy
3b) So you are starting marketing now after building the product? (https://t.me/acmecrypto/40256)
MOD: That’s great many projects first sell their tokens and then start building the product you guys are different. It gives more confidence to investors when there is working product already
4) Let’s move on to exchanges. I see $AVN listed only on ABIT exchange but there is not much volume. Do you have any plans to list on more exchanges and uniswap? (https://t.me/acmecrypto/40260)
Yes, we have plans to list on more exchanges and we are already listed on uniswap. https://app.uniswap.org/#/swap?inputCurrency= 0xec2d692f902b3f289aa9d644602986a0df1af687 We will add more liquidity and also we have plans to lock the liquidity with team finance.
5) Can you provide a public AVN intro video for everyone as well as some office pictures? This greatly helps with transparency/credibility in the crypto community as many have experienced fake teams/profiles in the past. (https://t.me/acmecrypto/40275)
Yes, we will also share our team intro video later, Our office is located at JA-1 Sector III, Salt Lake City, Kolkata 700 098, India. But due to lockdown, we are all currently working from home.
6) Are there any plans for buyback and/or burn of AVN tokens with the shopping platform to ensure the token continues to appreciate in value? (https://t.me/acmecrypto/40286)
Yes, buyback is possible, We’ve recently burnt 70% of our total supply so burning more tokens in the future is out of our plans. As the shopping platform is growing, 2–3 years from now, the website will become huge. We are looking out for a large number of users we would have in the future. So our earmarked tokens for the shopping website would only be circulated on the website.
COMMUNITY QUESTIONS — AVN GIVEAWAY WINNERS!
1) I am a crypto investor and I only care about the prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one? What advantage do you have that can convince me to change from my favorite token? (https://t.me/acmecrypto/29648)
AVNRich is an E-commerce company, we utilized the AVN token as digital money for eCommerce. Nowadays, most people transact over the internet such as shopping, buying and selling goods. And one of the greatest opportunities that we can offer is you can shop with your cryptocurrency plus rebates each time you make use of our platform. The idea of connecting e-commerce to cryptocurrency is to provide the best services that others don’t offer. We want to introduce to the whole world that AVNRich has the advantage of using digital currency.
2) Tell us about your plans for 2021, what are you currently working on, and are you going to expand the list of big exchanges? (https://t.me/acmecrypto/40339)
AVN token will be used to buy goods/products and services worldwide on the AVNRich shopping platform starting in 1st quarter 2021. And also we have plans to list on exchanges.
3) From the limited total supply, will there be any token burning in the future to reduce the total supply and automatically increase the AVN price? Where can we buy and sell AVN now? (https://t.me/acmecrypto/40299)
Right now, we don’t have a plan to burn tokens because we’ve just burned 70% of our total supply. We’ve separated 57,692,307 AVN earmarked for the shopping website to decrease the total supply. and these tokens will only circulate on our website now.
4) So how do you handle the delivery of goods that are banned in certain countries due to government regulations??? Do you have any form of screening to ensure this doesn’t become an issue for customers on your platform? (https://t.me/acmecrypto/40356)
AVNRich is a worldwide shopping platform but we just started our shop so it will take some time to expand all over the world. Now we are covering 3 countries: India, Bangladesh and the Philippines.
5) What makes AVN platform so special to people like us and how do you plan to compete against similar companies like Amazon, especially as crypto becomes more mainstream? (https://t.me/acmecrypto/40371)
We don’t want to compete with big companies like Amazon because we have our unique way of management and strategies. So, We aim at ensuring the most favorable satisfaction of our clients.