On May 7, 2021, to help BitMart users know more about NFTA, a cross-chain auction and loan platform for NFTs, we invited Tommy Le, the Founder of NFTA project and Co-founder of SOTA Finance, and Thao Nguyen, the CEO of SOTA Finance, to join our Telegram AMA and share valuable insights with our community members. If you didn’t make it to the AMA live event, please check our AMA recap below for more details:   [AMA]   BitMart Admin: Q1. Please give a short introduction about NFTA and its key features.   Tommy: NFTA is a cross-chain auction and loan market for NFTs. Users can submit their NFTs for auction on the NFTA market. Once accepted by the admin, an auction will be created for the NFTs. On the loan market, users can post and accept loan offers with their NFT collaterals. If the borrowers fail to pay the loans, then NFT collaterals will be passed to the lenders.   BitMart Admin: Q2. What blockchains do you plan to integrate into the NFTA platform?   Tommy: NFTA will be a cross-chain platform, the market will start with the Binance Smart Chain and HECO chain, and extend to other chains in later phases. Besides, NFTA will accept NFTs from other marketplaces so it will help to make more liquidity for the NFT market.   BitMart Admin: Q3. Can you tell us about SOTA Finance's other products?   Tommy: Yes, we have the SOTA NFT marketplace. SOTA was launched on Feb 10th. The platform is a multi-chain NFT marketplace. Currently, it is running on Binance Smart Chain, and we will soon add the HECO chain, etc. The platform currently has about 10k users subscribed.   BitMart Admin: Q4. How about NFTPAD? Can you explain to us about the product?   Tommy: NFTPAD is an IDO launchpad with a focus on NFT projects. NFTA will be our first IDO project on the NFTPAD. SOTA token staking is required to participate in the NFTA token IDO. For later IDOs, both SOTA and NFTA tokens can be used for staking. The NFTPAD's first version will operate on the HECO chain, and list IDO tokens on MDEX, HECO chain's decentralized exchange.   BitMart Admin: Q5. So you have 3 products, how are they going to benefit from one another?   Tommy: Users can use both SOTA and NFTA with a single sign-on account. SOTA is a marketplace where users can create and trade NFTs. Users can bring their collected NFTs to the NFTA market to get loans with these NFT collaterals. Moreover, NFTA will provide an auction market for selected NFTs, which can be traded on SOTA afterward as a secondary market.  With the NFTPAD launchpad, we would like to support other good NFT projects, creating synergy with our SOTA and NFTA markets. Besides, it will give opportunities for SOTA and NFTA holders to participate in these projects.     BitMart Admin: Q6. Now let's talk about the NFTA tokens. Can you tell us about the utility of NFTA tokens?   Tommy: NFTA is the governance token of the NFTA platform. Users will need to stake NFTA to join NFT auctions. NFTA tokens can be used for payment in the NFTA market. Besides, users can stake NFTA in the NFTPAD to join IDOs on the launchpad. We will introduce the governance feature where NFTA holders can vote for platform new development features, and get rewards for such activities. From year 3, part of the platform revenue will be used to support the governance activities.   BitMart Admin: Q7. And when do you plan to list NFTA tokens?   Tommy: We plan to start the NFTA IDO/IEO in mid-May (will announce very soon), and the listing of NFTA tokens around May 20th. We plan to list NFTA tokens on BitMart, BigOne exchanges and MDEX.   BitMart Admin: Q8. How can users register to buy NFTA on NFTPAD?    Tommy: The NFTPAD landing page has opened for users to start registering to participate in NFTA IDO. Please join the link: https://landing.nftpad.finance/   BitMart Admin: Q9. Can you please tell us your roadmap for the next 3 months?    Tommy: Let me talk about some near future milestones. We will do IDO/IEO in May 2021 and listing NFTA tokens on some DEXs, CEXs. And then we plan to release our first version of the NTFA platform in Jun 2021. The first version will run on BSC and HECO. SOTA platform will also integrate to support the HECO chain to align with NFTA.   [Free Q&A]   Question from a Community Member: Q1. Are you a global project or a local project? Can anybody anywhere use your project without any restrictions?   Thao Nguyen: We aim to target global users. Thus anyone from anywhere can join our platform.   Question from a Community Member: Q2. Nowadays, Binance smart Chain blockchain is having high transaction speed and pretty low gas fees. Are you planning to launch your mainet or switch to other blockchains in the future?   Tommy: Yes, we will bring not only Binance Smart Chain blockchain but also HECO chain and ETH. So that users can optimize fees depending on the value of NFT and which ecosystem they want to issue and bring up NFT too. You know the fee for the HECO chain is very low now.   Question from a Community Member: Q3. Can you please tell us the motivation and benefits for traders/ investors to hold $NFTA tokens in a long-term investment? I'm so curious about your plans to help drive demand and scarcity for the token.   Thao Nguyen: As Tuan Le has explained above, there are many utilities of the NFTA tokens as used for staking in auction or IDO launchpad, or as payment. Besides, in the future when the platform starts to generate revenues, part of the revenues will be rewarded to NFTA token holders through the governance activities. This will help to sustain the token value over the long term.   Question from a Community Member: Q4. Could you please tell me just a little more about the team and some of their backgrounds? I have personally seen many projects launch with inexperienced team members, and some of those didn’t go so well due to easily avoidable mistakes?   Tommy: We have a team with many experiences in blockchain. You can check details on our landing page but let me text note some key members here.   - William Nguyen CEO: Former CTO of VCC Exchange, a Singapore-based crypto-exchange with a strong presence in the Vietnam market. William was awarded various prizes such as the Champion of Student Science Research Conference or Google Summer of Code for NASA's project. He also worked at senior levels of international corporations such as DeNA or Mitani Sangyo Co.LTD.   - Andy Nguyen - CTO: Former CTO of SotaTek, Andy Nguyen is known for his extensive expertise in constructing complicated ERP and enterprise systems. Moreover, Andy is a Certified IBM Solution Designer, specialized in developing smart contracts with Bitcoin, Ethereum, Neo as well as related systems.   - Son Nguyen - Project Manager: Son has been working as a Scrum Master and System Architect in the IT industry for more than 15 years. His career was mostly with international IT companies where he gained the expertise to manage and perform high-quality product development. Son’s tech stacks cover a wide range of technical areas, from web/mobile applications to blockchain, cloud services.   Question from a Community Member: Q5. Collaboration and partnerships are one of the cornerstones to making DeFi more widespread. Can you share some of the partnerships you have formed with existing blockchain foundations recently?   Thao Nguyen: Yes, that is true and we are working hard on that. We are collaborating with different partners. For example, HECO chain has supported us quite a lot and we hope to bring great value to the HECO ecosystem with our products.   [About SOTA]   SOTA is a multi-chain platform digital content NFT application where users can create, sell, and buy digital content NFTs easily. A creator just needs to upload his/her digital content such as pictures, artwork, select a blockchain network, and other settings of the NFT to create limited NFT versions of the content.   [Useful Links] - Official Website: https://sota.finance/en - Explorer: https://etherscan.io/token/0x0dde6f6e345bfd23f3f419f0dfe04e93143b44fb - Whitepaper: https://sota.finance/en/vi - Twitter: https://twitter.com/sotaNFTs - Telegram: https://t.me/sotaNFTer