Today we have another special Q&A for you guys! This platform (as of today) has a volume of over 200M CRO! Shortly after inception, Ebisu’s Bay introduced NFT staking on the Cronos Chain, a game changer at the time as Cronos NFT projects could now offer staking services to holders, and with no further ado, please welcome Cronos Chain’s 1st secondary NFT marketplace: Ebisu’s Bay!
Ebisu’s Bay, it’s a pleasure to have you guys with us, welcome to the CCN Q&A summit! How do you feel about the current state of the market for crypto as a whole and how has it directly or indirectly impacted your platform?
Starting out a tough question. I think the crypto market has a bright future. Times right now are very tough; it has been interesting to see how community sentiment has shifted during this time. In a way we seem more pitted against one another than united in our vision for the future of crypto and Cronos. We have been slowing down to speed up. The market conditions have caused us to trim a lot of fat, to work more efficiently, and to optimize our systems and process. It has been a great learning and growing experience of us as a team.
How did the Ebisu Bay platform come about? What prompted your team to launch it, and how challenging was it to find the right team to build with?
EbisusBay began as a passion project for me. I had entered the incentivized test net on Cronos and just wanted to build something to interact with all of the NFTs I had collected on crypto.com’s NFT platform. When I realized this connection isn’t possible it occurred to me that Cronos would need its own NFT marketplace and so I immediately set to work building it. Building the team was a long process but it wasn’t difficult it happened naturally. Passionate community members came to me looking to fill roles always when I needed them the most. In my dozen years of working on, building, leading and mentoring in the software industry I can say that the team working on Ebisus now is by far the best and most passionate team I have ever had the pleasure to be a part of.
Why did you choose the Cronos chain to build on? What makes the Cronos chain appealing?
I was just a really big fan and avid user of Crypto.com. Already an ambassador before Cronos launched and my primary intension was to just have fun and learn how to build decentralized apps and build a product I wanted to use myself as an avid NFT collector.
How does a new NFT project get listed on Ebisu’s Bay? What steps would they need to take to meet your company requirements?
To get listed you only need to apply with a legit project and we add support just as quickly as we can. Taking the time to do this has been extremely time consuming and so as I mentioned before how we are needing to optimize our process in this market, very soon all NFT contracts will be listable automatically and we’ll move towards a verification process similar to open sea as well as a curated filter as well to highlight some of the blue chips out there.
The crypto industry is still new, and with new technology bad actors are to be expected unfortunately. What implementations does your company have in place to reduce the amount of abandoned NFT projects?
This has been one of the most difficult things for us and we are constantly learning and trying our best to improve the process to weed out back actors and avoid working with them. We’ve recently added to our site badges to denote if a team has done kyc with us, or doxxed themselves publicly, etc. That being said, there isn’t much we can do to reduce the amount of abandoned NFT projects. Sometimes businesses just fail no matter how good the intensions of the project owners and their business plan. Especially in these market conditions it is very difficult to survive. Our primary concern to avoid working with those project owners who do not have the best intensions or business plans. We typically work very closely with those launching with us and can see they are working hard to build the best thing that they can.
What is the main utility of owning an Ebisu’s Bay founding member NFT, and what role does it play in the ecosystem?
Two primary benefits:
You get 50% off the service fee
You get discount on most drops on the launchpad
3/ Access to special channel in our discord.
Are there any real-life utilities that comes with owning an Ebisu’s Bay founding member NFT? Do you see NFTs with real-life utilities in the near future?
I guess the discord channel counts as real life? 😅
I think also you’ll be getting some discounts on merch too soon 🙂
One of your competitors, Minted Network, has recently launched their secondary NFT marketplace on the Cronos Chain, as well as their token MTD. Is there a possibility that we may see an Ebisu’s Bay token sometime soon?
We’ll be launching our metaverse token pretty soon. We have been working on our first game behind the scenes for several months now. I’ve attached some early footage to check out! Our VIP NFTs will also soon be upgradable trading in 1 VIP + upgrade fee will give you 10PFP which have attributes that will be giving bonuses in the game.
Also we are building a sister site
https://seashrine.io/ that will be a move-based NFT market opposed to our EVM-based market and will first launch on Aptos. This market will have stake-able VIPs as well just like EB but will also have its own token. VIPs will presale on the ETH network ahead of the Aptos network launch on 9/29 and 20% of the token will be airdropped to VIP holders on network launch.
What does your team plan on accomplishing in the Cronos ecosystem as a whole?
We plan to continue to provide the best and most trusted NFT market on Cronos. We take a lot of pride in the service we do for all of the NFT projects and community. We plan to continue to listen to what is asked for and provide it to the best of our ability. This includes the small things like integrating extra custom APIs of those projects out there to provide extra data for gaming or whatever cool stuff projects are doing. We also continue to offer and grow our API services used to power our site providing a wide range of NFT and market data community members can build with. Finally, as I mentioned before our gaming division is hard at work and will begin to start releasing things. We are very excited for this. We’ll be providing some fun new gaming experiences on the chain and with that will come more gaming market integrations which will be exposed for other developers on the chain to use as well.
Where do you see your project 5 years from now?
Just seeing where we have come in just one year it very hard to imagine what another 5 will be. This industry changes and grows so quickly. We’ll certainly continue to expand into other new chains, innovate and build in the game-fi space, open source many of our tools, event ticketing, soul bound tokens, more mobile integrations. We’ll be prepared and help to usher in both NFT innovation and mass adoption.
