TRUE CEO Reveals the Details of Strategic Round
In early August, TRUE, a leading platform providing white-label NFT solutions and engagement tools for Web2 businesses, announced the opening of its strategic investment round and the readiness of its infrastructure for rapid scaling. We sat down with Dan Andrian, CEO of TRUE, to learn how the company managed to stand out in the highly competitive NFT space and explore the prospects of NFT technology for traditional businesses.
Over the course of 2 years, TRUE has evolved from a startup into a stable business. However, it appears that the NFT trend is noticeably losing steam. What has been the company's "golden vein" that allowed it to thrive despite this changing landscape?
Indeed, in 2021, NFTs experienced a hype wave, igniting brightly and gradually subsiding. It's hard to imagine now that simple images without any perceived value would fetch millions of dollars within minutes of minting. But that's the beauty of it! The hype around basic JPEGs has passed, and now it's time to explore the real possibilities and potential of NFT as a technology, which is truly immense.
In reality, NFT technology allows us not only to enrich tokens with various utilities, making them more transparent and manageable "electronic certificates," but also to swiftly and conveniently create engagement mechanics to involve and retain the community. So, in 2024, NFTs are going to be all about utility and engagement, reinforcing customer loyalty and engaging them in our business. NFTs are becoming a practical marketing tool for traditional businesses, increasingly comprehensible to audiences not deeply immersed in the crypto world. This is the area where TRUE has actively focused on over the past year, achieving excellent results and confirming our hypotheses.
What specific engagement tools can be implemented using NFT technology?
When discussing engagement tools achievable with NFT technology, we draw inspiration from familiar childhood gaming mechanics. Rather than inventing something entirely new, we have adapted concepts that resonate with everyone and made the process of creating such mechanics easier through the capabilities of utility NFTs.
One such example is the Album collection, which brings the concept of collecting into the digital world. Users can gather sets of NFTs, and completing a set unlocks more valuable and exclusive NFTs, offering unique benefits. These NFTs can be earned through loyalty or other means.
Crafting is another tool that involves merging several less functional NFT cards to create a more powerful item or in-game character with modified traits, leading to greater rewards.
The Mystery box is akin to a surprise egg, containing a random NFT of varying rarity from the collection. Its contents can be opened, exchanged, or kept unopened and sold on the marketplace, just like other utility NFTs.
NFT Quests, a more sophisticated mechanic, may include elements of both Album collections and Crafting. Automated rewards are provided for accomplishing various tasks. Users engage in familiar activities like making purchases, giving likes, or sharing reviews, receiving motivation to tackle new challenges and earning NFT rewards in return. These rewards can range from collectible badges distinguishing them within the brand community to full-fledged utility NFTs granting additional benefits such as discounts, privileges, or rare skins.
Lastly, NFT drops are integrated directly into games, randomly distributing NFT tokens while playing. TRUE has developed a seamless solution that allows drops to be seamlessly integrated into gameplay via iframe, without disrupting the gaming experience. NFTs collected from drops can be combined into albums, encouraging players to continue playing to craft valuable NFT rewards. Blockchain technology empowers owners to freely trade these crypto game assets on the open market, transacting them for real money, with only a small commission going to the creator (i.e., the business).
These are just some of the key examples of engagement tools suitable for most businesses. At TRUE, we pride ourselves on taking a personalized approach to client requests, delving into their business objectives to develop the most effective bespoke solutions. Our infrastructure enables us to do this quickly and with minimal code involvement.
How precisely does the TRUE infrastructure enable companies to craft such NFT-powered projects?
As we developed the TRUE products, we had one goal in mind: to provide the Web2 businesses with a convenient and user-friendly tool for creating NFT engagement solutions. This led to the creation of the TRUE infrastructure, which encompasses several key products:
-
White-label NFT marketplace This product enables businesses to release and sell their own NFTs without the need for significant technological investments. Through a user-friendly interface, companies can customize their marketplace design and leverage various engagement tools mentioned earlier to engage and retain the community.
-
TRUE Wallet As a simple and convenient cross-platform tool, TRUE Wallet allows users to store and manage their digital assets effortlessly, including popular cryptocurrencies and utility NFTs. With fiat support, purchasing NFTs becomes seamless for web2 audiences. The TRUE Wallet is integrated into each white-label marketplace, automatically created for users upon registration with a single click via email.
-
SDK & API This ready-to-use set of tools allows for the seamless integration of utility NFTs and gamification mechanics into any business process. This way, developers can focus on content creation, while brands can quickly mint and sell their NFTs to customers, players, and collectors both within and outside the ecosystem.
-
Business intelligence This feature offers comprehensive financial statistics and transparent records of NFT sales on the client's marketplace. It is crucial to highlight that TRUE operates as a legitimate fintech company under EU jurisdiction, providing clients with official, transparent contracts and the ability to receive profits from NFT projects in fiat currency.
We have already successfully tested numerous hypotheses for each of these components and are now continuing to improve the products by adding new functionalities.
In which business areas is it possible to create engagement and gamification via NFT?
In reality, in almost any business sphere. Virtually every company has customers, and they would like to increase their LTV and improve retention. And it's long been known that gamification is the key to building loyalty and engaging with any audience.
Throughout the development of the TRUE infrastructure, we have successfully integrated NFT technology into various industries including event management, gaming, iGaming, the automotive sector, and even investment platforms. Notably, in the iGaming sector, TRUE is at the forefront of seamlessly integrating NFT engagement mechanics into games, resulting in impressive outcomes and strong tier-1 partnerships.
In any industry, we offer custom white-label solutions to each client, including their own NFT marketplace, making it easy to create engagement mechanics, along with TRUE Wallet, a web2-friendly financial center. We are proud to confirm that our infrastructure is fully scalable and adaptable to any requirement.
You have already worked in many industries! Is there a particular case in any of the industries you would like to highlight separately?
Every industry is incredibly fascinating when it comes to engagement. However, there is one industry that especially impressed us with its audience interest — event management. During the spring, we were approached by Uventy, a digital agency specializing in event organization across Europe. After finding shared interests, we made the decision to experiment with integrating NFT tickets for concerts.
As it turned out, NFT technology is the perfect solution to address the industry's challenges. Firstly, NFTs effectively combat scalpers and speculators, ensuring that genuine fans have fair access to tickets at reasonable prices. Secondly, NFTs provide a centralized platform for secondary sales, making it convenient for buyers and sellers to engage in secure transactions within the ecosystem. Lastly, artists and event organizers can easily track and verify sales data on the blockchain, ensuring transparency and eliminating any sense of deception!
Our first event was a concert featuring the iconic CIS hip-hop band "Kasta" in Lisbon in April. In just 2 weeks, we set up a fully functional white-label marketplace for Uventy and launched the sale of several tiers of NFT tickets, each with additional utility. Purchasing an NFT ticket allowed users to claim official band merchandise, receive commemorative photos, and even gain backstage access.
The ticket distribution process was seamless for users. They logged into the Uventy marketplace, bought the NFT ticket with their credit card or crypto through TRUE Wallet, and upon activation, received a unique QR code for entrance to the show. The NFT technology itself made ticket management convenient (trading and purchasing on the secondary market) without any security concerns, thanks to blockchain's inherent safety.
As a result, for the first event, we sold more than a quarter of all available tickets through NFT, far exceeding the promoter's expectations! This case solidified the relevance of TRUE NFT tickets solution and showcased the demand for innovation among traditional audiences, indicating potential growth. Currently, we have successfully launched five events for Uventy and have no plans to stop there.
Sounds great! So we have delved into the core of the TRUE infrastructure and confirmed the demand for utility NFTs in the business landscape. Can you provide insights about the latest investment round? Why is it happening now?
The past year and a half has been quite challenging for the market. The bearish trend has been in full swing. However, amidst it all, we are now witnessing some promising and encouraging signs. In my view, we are slowly turning towards a bullish market. Bitcoin is showing movement, Ripple won a legal battle against the SEC, and blockchain mass adoption is steadily progressing. We want to be prepared for the market's growth and provide investors with maximum benefits.
Our traction is already impressive, with a pipeline of several hundred potential clients, and TRUE infrastructure's user base is consistently growing and finding its audience. The only thing we need now is investment for scaling our infrastructure and boosting our promotional efforts. We want to seize the opportunities ahead and maximize the potential for both our platform and our valued investors.
Strategic round is a round for a mature business. Having gone through previous fundraising stages and considering new partners, do you have any expectations from them?
In today's investment landscape, funds have become increasingly cautious in their investments, not only in the cryptocurrency market but also in traditional IT. The days of receiving millions without a solid financial model are now gone: the investment world now prioritizes traction, and we fully support this approach. Our ideal partner is someone who shares our vision of developing the industry and driving mass adoption of NFTs while ensuring financial viability. Because without financial sustainability, the market cannot thrive.
TRUE takes pride in its ability to generate traction and efficiency. In return, we seek support throughout our development journey, from fundraising to business development and networking within a relevant business environment aligned with our goals.
Indeed, we take the process of selecting not only strategic partners but also our team of advisors very seriously. We have assembled an incredibly powerful and diverse advisory board consisting of industry experts and thought leaders. They are professionals in diverse business fields, not limited to crypto and blockchain. Their valuable insights and guidance have been instrumental in shaping our strategic decisions.
In essence, we strongly believe that the right partnership will empower us to achieve even greater success and demonstrate that NFT technology goes beyond simple images, proving its ability to serve real business objectives and deliver consistent results.
_________________________________________________________
For more information about TRUE and its investment opportunities, please visit https://docsend.com/view/s/ztk6wrp8avjw4p5c
Company details
CEO name: Dan Andrian
Email: pr@truefuture.io
Website: https://truefuture.io/
Read More
TRUE CEO Reveals the Details of Strategic Round
In early August, TRUE, a leading platform providing white-label NFT solutions and engagement tools for Web2 businesses, announced the opening of its strategic investment round and the readiness of its infrastructure for rapid scaling. We sat down with Dan Andrian, CEO of TRUE, to learn how the company managed to stand out in the highly competitive NFT space and explore the prospects of NFT technology for traditional businesses.
Over the course of 2 years, TRUE has evolved from a startup into a stable business. However, it appears that the NFT trend is noticeably losing steam. What has been the company's "golden vein" that allowed it to thrive despite this changing landscape?
Indeed, in 2021, NFTs experienced a hype wave, igniting brightly and gradually subsiding. It's hard to imagine now that simple images without any perceived value would fetch millions of dollars within minutes of minting. But that's the beauty of it! The hype around basic JPEGs has passed, and now it's time to explore the real possibilities and potential of NFT as a technology, which is truly immense.
In reality, NFT technology allows us not only to enrich tokens with various utilities, making them more transparent and manageable "electronic certificates," but also to swiftly and conveniently create engagement mechanics to involve and retain the community. So, in 2024, NFTs are going to be all about utility and engagement, reinforcing customer loyalty and engaging them in our business. NFTs are becoming a practical marketing tool for traditional businesses, increasingly comprehensible to audiences not deeply immersed in the crypto world. This is the area where TRUE has actively focused on over the past year, achieving excellent results and confirming our hypotheses.
What specific engagement tools can be implemented using NFT technology?
When discussing engagement tools achievable with NFT technology, we draw inspiration from familiar childhood gaming mechanics. Rather than inventing something entirely new, we have adapted concepts that resonate with everyone and made the process of creating such mechanics easier through the capabilities of utility NFTs.
One such example is the Album collection, which brings the concept of collecting into the digital world. Users can gather sets of NFTs, and completing a set unlocks more valuable and exclusive NFTs, offering unique benefits. These NFTs can be earned through loyalty or other means.
Crafting is another tool that involves merging several less functional NFT cards to create a more powerful item or in-game character with modified traits, leading to greater rewards.
The Mystery box is akin to a surprise egg, containing a random NFT of varying rarity from the collection. Its contents can be opened, exchanged, or kept unopened and sold on the marketplace, just like other utility NFTs.
NFT Quests, a more sophisticated mechanic, may include elements of both Album collections and Crafting. Automated rewards are provided for accomplishing various tasks. Users engage in familiar activities like making purchases, giving likes, or sharing reviews, receiving motivation to tackle new challenges and earning NFT rewards in return. These rewards can range from collectible badges distinguishing them within the brand community to full-fledged utility NFTs granting additional benefits such as discounts, privileges, or rare skins.
Lastly, NFT drops are integrated directly into games, randomly distributing NFT tokens while playing. TRUE has developed a seamless solution that allows drops to be seamlessly integrated into gameplay via iframe, without disrupting the gaming experience. NFTs collected from drops can be combined into albums, encouraging players to continue playing to craft valuable NFT rewards. Blockchain technology empowers owners to freely trade these crypto game assets on the open market, transacting them for real money, with only a small commission going to the creator (i.e., the business).
These are just some of the key examples of engagement tools suitable for most businesses. At TRUE, we pride ourselves on taking a personalized approach to client requests, delving into their business objectives to develop the most effective bespoke solutions. Our infrastructure enables us to do this quickly and with minimal code involvement.
How precisely does the TRUE infrastructure enable companies to craft such NFT-powered projects?
As we developed the TRUE products, we had one goal in mind: to provide the Web2 businesses with a convenient and user-friendly tool for creating NFT engagement solutions. This led to the creation of the TRUE infrastructure, which encompasses several key products:
-
White-label NFT marketplace This product enables businesses to release and sell their own NFTs without the need for significant technological investments. Through a user-friendly interface, companies can customize their marketplace design and leverage various engagement tools mentioned earlier to engage and retain the community.
-
TRUE Wallet As a simple and convenient cross-platform tool, TRUE Wallet allows users to store and manage their digital assets effortlessly, including popular cryptocurrencies and utility NFTs. With fiat support, purchasing NFTs becomes seamless for web2 audiences. The TRUE Wallet is integrated into each white-label marketplace, automatically created for users upon registration with a single click via email.
-
SDK & API This ready-to-use set of tools allows for the seamless integration of utility NFTs and gamification mechanics into any business process. This way, developers can focus on content creation, while brands can quickly mint and sell their NFTs to customers, players, and collectors both within and outside the ecosystem.
-
Business intelligence This feature offers comprehensive financial statistics and transparent records of NFT sales on the client's marketplace. It is crucial to highlight that TRUE operates as a legitimate fintech company under EU jurisdiction, providing clients with official, transparent contracts and the ability to receive profits from NFT projects in fiat currency.
We have already successfully tested numerous hypotheses for each of these components and are now continuing to improve the products by adding new functionalities.
In which business areas is it possible to create engagement and gamification via NFT?
In reality, in almost any business sphere. Virtually every company has customers, and they would like to increase their LTV and improve retention. And it's long been known that gamification is the key to building loyalty and engaging with any audience.
Throughout the development of the TRUE infrastructure, we have successfully integrated NFT technology into various industries including event management, gaming, iGaming, the automotive sector, and even investment platforms. Notably, in the iGaming sector, TRUE is at the forefront of seamlessly integrating NFT engagement mechanics into games, resulting in impressive outcomes and strong tier-1 partnerships.
In any industry, we offer custom white-label solutions to each client, including their own NFT marketplace, making it easy to create engagement mechanics, along with TRUE Wallet, a web2-friendly financial center. We are proud to confirm that our infrastructure is fully scalable and adaptable to any requirement.
You have already worked in many industries! Is there a particular case in any of the industries you would like to highlight separately?
Every industry is incredibly fascinating when it comes to engagement. However, there is one industry that especially impressed us with its audience interest — event management. During the spring, we were approached by Uventy, a digital agency specializing in event organization across Europe. After finding shared interests, we made the decision to experiment with integrating NFT tickets for concerts.
As it turned out, NFT technology is the perfect solution to address the industry's challenges. Firstly, NFTs effectively combat scalpers and speculators, ensuring that genuine fans have fair access to tickets at reasonable prices. Secondly, NFTs provide a centralized platform for secondary sales, making it convenient for buyers and sellers to engage in secure transactions within the ecosystem. Lastly, artists and event organizers can easily track and verify sales data on the blockchain, ensuring transparency and eliminating any sense of deception!
Our first event was a concert featuring the iconic CIS hip-hop band "Kasta" in Lisbon in April. In just 2 weeks, we set up a fully functional white-label marketplace for Uventy and launched the sale of several tiers of NFT tickets, each with additional utility. Purchasing an NFT ticket allowed users to claim official band merchandise, receive commemorative photos, and even gain backstage access.
The ticket distribution process was seamless for users. They logged into the Uventy marketplace, bought the NFT ticket with their credit card or crypto through TRUE Wallet, and upon activation, received a unique QR code for entrance to the show. The NFT technology itself made ticket management convenient (trading and purchasing on the secondary market) without any security concerns, thanks to blockchain's inherent safety.
As a result, for the first event, we sold more than a quarter of all available tickets through NFT, far exceeding the promoter's expectations! This case solidified the relevance of TRUE NFT tickets solution and showcased the demand for innovation among traditional audiences, indicating potential growth. Currently, we have successfully launched five events for Uventy and have no plans to stop there.
Sounds great! So we have delved into the core of the TRUE infrastructure and confirmed the demand for utility NFTs in the business landscape. Can you provide insights about the latest investment round? Why is it happening now?
The past year and a half has been quite challenging for the market. The bearish trend has been in full swing. However, amidst it all, we are now witnessing some promising and encouraging signs. In my view, we are slowly turning towards a bullish market. Bitcoin is showing movement, Ripple won a legal battle against the SEC, and blockchain mass adoption is steadily progressing. We want to be prepared for the market's growth and provide investors with maximum benefits.
Our traction is already impressive, with a pipeline of several hundred potential clients, and TRUE infrastructure's user base is consistently growing and finding its audience. The only thing we need now is investment for scaling our infrastructure and boosting our promotional efforts. We want to seize the opportunities ahead and maximize the potential for both our platform and our valued investors.
Strategic round is a round for a mature business. Having gone through previous fundraising stages and considering new partners, do you have any expectations from them?
In today's investment landscape, funds have become increasingly cautious in their investments, not only in the cryptocurrency market but also in traditional IT. The days of receiving millions without a solid financial model are now gone: the investment world now prioritizes traction, and we fully support this approach. Our ideal partner is someone who shares our vision of developing the industry and driving mass adoption of NFTs while ensuring financial viability. Because without financial sustainability, the market cannot thrive.
TRUE takes pride in its ability to generate traction and efficiency. In return, we seek support throughout our development journey, from fundraising to business development and networking within a relevant business environment aligned with our goals.
Indeed, we take the process of selecting not only strategic partners but also our team of advisors very seriously. We have assembled an incredibly powerful and diverse advisory board consisting of industry experts and thought leaders. They are professionals in diverse business fields, not limited to crypto and blockchain. Their valuable insights and guidance have been instrumental in shaping our strategic decisions.
In essence, we strongly believe that the right partnership will empower us to achieve even greater success and demonstrate that NFT technology goes beyond simple images, proving its ability to serve real business objectives and deliver consistent results.
_________________________________________________________
For more information about TRUE and its investment opportunities, please visit https://docsend.com/view/s/ztk6wrp8avjw4p5c
Company details
CEO name: Dan Andrian
Email: pr@truefuture.io
Website: https://truefuture.io/
Read More