BW.com AMA with Founder of PAZZI (PAPARAZZI) Sungmin Yoon, probe into PAZZI — the Photo-centric Blockchain Platform
The AMA (Ask Me Anything) held by the BW.com official telegram, and invited Sungmin Yoon, the founder of PAZZI (PAPARAZZI) at 19:00 Jun 25 (UTC+8). In almost 60 minutes, Yoon answered all the questions in terms of the understanding and application of PAZZI. He also shared his opinion on the photo-centric function-based trend.
Here is the editor record：
Section 1: Introduction and AMA
Host: Hi BW family members and community friends, I’m Cathy Zhu, BW global CEO. It’s my great pleasure to invite Mr. Yoon Sungmin to the BW community for an online AMA this evening. Welcome, Mr. Yoon
Guest: Hello BW community members. Nice to meet you today. I am Sungmin Yoon, the CEO and founder of PAZZI project.
Host: It is our great pleasure to have you here with us today to share about Pazzi. Mr Yoon can you give us a brief introduction about you please?
Guest：Pleasure to meet you all. Previously, I was from the gaming industry. Before starting the Paparazzi project, I was the former Netmarble IGS CEO.
Q1: For everyone to be on the same page before delving deeply into the project, could you first give us a brief introduction about PAZZI?
PAZZI (PAPARAZZI) is a blockchain project developed by Mining Mouse, inc. a tech-startup founded by previous gaming industry experts. PAZZI project is utilizing blockchain technology to create a new photo-centric platform to provide a seamless process of capturing, sharing, and trading a graphic memory. We intend to create a new ecosystem based on visual content.
Q2: Thank you for the introduction. That clears up everything. I believe this project began to develop in order to address issues in existing social networking platforms. What major issues are handled with Paparazzi?
Existing social networking platforms are very platform-centric. Normal users on the platform struggle to create additional income based on their content. However, the PAZZI project is providing full content ownership to the owner. Users can sell their content, have subscribers, or receive advertisement requests.
Q3: Every blockchain-based projects showcase the benefits of their platform. In the case of Paparazzi, what can users benefit from and gain from the platform?
Paparazzi platform’s greatest benefits are users gaining access to decentralized commercial opportunities. Also by blockchain implementation, creators can safely protect their contents by having each of their content uploaded on the blockchain with a unique identifier. Furthermore, each transaction with a buyer or advertiser is recorded on the blockchain, which adds security for cross-border transactions.
Q4: One of the major problems with SNS these days is that there are countless similar applications. Also, after users get accustomed to a particular application, it is highly unlikely that they will delete their accounts and use another similar application. How will Paparazzi attract and secure users?
Paparazzi is a photo-centric platform that focuses on two core features: simplicity and usability. The implementation of blockchain technology will not prevent users from signing up and making a transition from traditional photo applications. Also, Paparazzi’s simple UX will facilitate in-app purchases and ensure safe transactions between users. As the PAZZI blockchain records all user IDs, stores images, and verifies transactions, users will no longer need to worry about illegal usages of their photos and unprotected transactions. By providing multiple functionalities that existing SNS do not have, Paparazzi plans to retain as many users as possible.
Q5: Paparazzi seems very similar to Instagram, simply excluding videos. What features are different and unique to Paparazzi?
Unlike Instagram, posts on Paparazzi will fill the entire screen, enabling users to focus purely on the image. Inspired by the application’s name, users can upload exclusive posts, like an actual Paparazzi, with a “blur” function. Interested users can view the post after paying PAZZI tokens. In addition to this, artists can finance their projects through crowdfunding and earn a passive income from subscribers wishing to view exclusive contents. With all these integrated features, users can participate in a photo-centric ecosystem.
Q6: According to Paparazzi’s whitepaper, a mileage system called PASSPORT is incorporated within the application. Could you explain the reason behind this implementation and give a brief description of how this system will be utilized?
Our team is keen on blockchain mass adoption. We plan to do this by establishing a complete photo-centric ecosystem. Providing financial services based on our application will be important. Thus, our team is preparing a unique, universal mileage system known as PASSPORT (PP). Passport will serves as a bridge between PAZZI tokens and fiat money. This will help lower the entry of barrier for users not accustomed to blockchain technology and cryptocurrencies. Soon with our pending partners, the use case of PAZZI tokens will increase.
Q7: Could you elaborate on the process and benefits of advertising a user’s post from the perspective of both the user and the advertiser?
Within the platform, advertisers can have the option to request for advertisement directly to their desired user. This will help facilitate an effective advertisement campaign. Retailers can reach out to users posting content related to their brand, typically one who uploads posts related to their brand and with a lot of followers. Using Paparazzi’s smart-contract based advertisements, advertisers can have more accurate data and better spending of advertisement budget.
Q8: Due to the increasing number of users ignoring and hating advertisements, advertisers and other businesses are suffering from low profits. However, advertisements render a significant amount of profit to businesses. How will PAZZI engage users to view advertisements on the platform?
Acknowledging current customer psychographics, we will engage users with interactive advertisements. This approach will not force users to watch advertisements but induce them with events and rewards. For instance, users may be able to answer a simple questionnaire after an advertisement for token rewards.
Q9: Sounds like the Paparazzi team has put in a lot of thought and effort! Can you introduce your core team members?
Yes, CEO Yoon is a seasoned-entrepreneur with an extensive experience in the gaming industry. Yoon was the previous CEO of Netmarble IGS. Our COO Lim is also from the gaming industry. He is from another gaming giant, Smilegate, inc. Besides our main executives, Paparazzi team is international. Our CPO is from UC Berkeley, and our design team is from Europe.
Q10: For any new project, marketing is of paramount importance. What marketing strategies will be executed to attract users? Are there any specific target markets/countries?
Marketing for blockchain-based services is even more complex than a normal web service. In the short term, we believe the user base will consist a lot of cryptocurrency users. Therefore, maintaining a high level of community events is important. There will be press releases on both local and international blockchain and non-blockchain platforms. Additionally, we have multiple events within our communities and a portion of our tokens have been allocated to be distributed to event winners. Before expanding globally, we will first target the Korean and Chinese markets.
Q11: What is the ultimate goal of the Paparazzi project?
The goal of the project is to create a genuine, vibrant photo-centric ecosystem. The trend for searching information is constantly changing. Now people are not using articles, people either watch videos or look at pictures. We hope to facilitate such changing trend by providing a blockchain platform that is completely photo-centric.
Q12: How can users stay updated with this project? Are there channels where users can get the latest updates about Paparazzi?
Some selected question from BW community:
Q1：What is your long-term vision about the industry which #PAZZI project is working at? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?@Chota Don
Guest：Our goal is to achieve blockchain mass adoption through creating a photo-centric ecosystem based on our PAPARAZZI application.
Q2：For Pazzi what promotion do you have or event? @Angieline Zarah
Guest：Stay tuned for a new event.
Thanks for watching this AMA.
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