Recap of AMA session with NEXT Protocol team

Emirex Group | Feb 23, 2021 1:27:25 PM

Dear EMIREX Community,

Thank you for participating in the AMA Session held on February, 18 on the Emirex Telegram group with Shaik Hamdan, CEO at NEXT Protocol and John Barton, Digital Advisor at NEXT Protocol.

For those of you who may have missed it, below is a transcript of the questions revealing the project and those that came up from different members of the community:

Can you briefly tell us what is Next Protocol? And What problems Next Protocol aims to solve?

Shaik: NEXT Protocol allows easy publication of Robot Services using our Robots (NEXTiBOTs) and other OEM Robots, enable the Robots to run with its own tokens (deploy and Mint business specific ERC20 robo tokens) and, sell these Robot services in marketplaces. Each robot earnings are shared with the Token holders who would stake their Robot Tokens and get yield.

We aim to change the world by integrating robots into the daily lives of everyone for a more intelligent way of life through Blockchain, DeFi and Robotics. And to do that we married DeFi Investment Protocols, Tokenization, Fractional Asset Ownership into a Robot Operating System( RoS) for easier adoption of robots into business and homes

NEXT Token provides investors with a simple, intelligent, and user-friendly method to buy into fractional, tokenized ROBOT Ownership of a NEXTiBOT, leveraging the current business need and the permissionless, unrestricted token issuance of Ethereum.

Investing with NEXT Tokens means low maintenance asset ownership, access to cash flows related to the robot (e.g., rent), & frictionless ownership transactions via NEXT Tokens. And most importantly being ERC-20 token, you can sell your tokens whenever you want.

John: From my standpoint, i see it as very simple way  - there is platform which companies can use to customize their integration with Robot Operating System to make then blockchainized and identifiable. The same platform can be used to build apps and also Robot Games and Robot NFTs. Next Protocol will probably the first company in the world who will create Robot NFTs that players can hold and use them in multi player Robot games.

The other big problem we are solving is adoption - with Fractional Robot Ownership, these can be rented out at monthly service fees so that Small and Medium enterprises (SME) can get the benefit of these robots as they are the ones that has been badly hit in Covid. And we would love to have some robots for CSR activities.

Which stage is this project at and what are the upcoming roadmaps/plans for NEXT Protocol?

Shaik: In a short 8-month development window, we have a lineup of purpose-built robots that are fully aware of their surroundings, self-navigating and trained on industry leading Natural language processing algorithms. They can self-navigate and AI enabled to learn autonomously, while being extremely trainable on routines and tasks. We have already started building NEXT Protocol marketplace. In the next phase, we plan to build Robotic Games and NFT and after that enable Next Protocol to be used by other Robotic Vendors and Applications to make it an enriched ecosystem. During this whole time our own Next Protocol Powered NEXTiBOT robots gets enhanced with IOT sensors fitted, its own Mobile App through which these bots can tracked, controlled and deployed.

Currently Next Protocol is blockchain agnostic and can run on any Ethereum compatible network. We are developing Next Protocol to make it compatible with bep20 and will be connecting with Binance Smart Chain.

How can individual investors like our community members participate and benefit from the NEXT Protocol Public Sale?

John: All NEXT Token Holders will get fractional semi/part ownership of the Robots in terms of part of the rentals coming back to NEXT Tokenholders. That's a direct benefit while supporting the NEXT Protocol powered Robots to be put in real working scenarios.

In addition they can use the tokens to buy NFT's, Play Robot Games. We are also looking if we can use the Robots for Blockchain or Edge Computing Nodes to solve problems and earn as these have hexa core processors.

And you know Robots are not costly any more - I was calculating the price of a Robot =  6 iPhone 12 Pro Max. Thats misconception  they are costly as chips and processors are getting cheaper and faster. Only when you have hands, more rotating parts, they become costlier...

How big is the market and what plans you have taken to beat competition?

Shaik: The global service robotics market is expected to reach US$ 23.90 Billion by 2022, at a CAGR of 15.18% between 2016 and 2022. The market is expected to grow substantially owing to factors such as high demand from medical and healthcare sector, increasing usage of robots for education & research purposes and short- to medium-term payback period and high return on investment (ROI). This report was made before Covid and we feel that these numbers will be achieved within 2021 itself.

NEXTiBOT will face competition from the following companies providing robots development services. Our company will compete with them and plan to position itself into the list of the top robot development companies. We are focused to gain a top mindshare in customers who use our products before availing products of other competitors. With our unique open source protocol & blockchain driven business model, MEA leadership position and global partnership, we will quickly achieve that.

How does NEXT Tokens used in the Ecosystem? What are the use cases for its appreciation?

Shaik: NEXT Token has comprehensive use cases to generate greater demand of tokens – there is no mindless burning but real business use cases which will need the tokens to work.

• Developers to build their Robot Application with their customized tokens in the marketplace for business and companies to consume and deploy.

• Companies can onboard and deploy Robot with its prebuilt applications. They can float projects for the developers to build new functionality as well.

• Gamers can build Robot games on the ROS and run them on Hexacore processors and play as well as compete in events.

• Robot token holders by staking NEXT Tokens can earn partial (50%) Rental yields for Robot applications that are being in used business scenarios through Blockchain Wallet Node (tracker) for each Robot.

Current NEXT Tokens will be used in our developed Service Robots NEXTiBOTS which provides the following services: Greet-iBot, Safe-iBot, Ster-iBot and Carry-iBot.

Can you list 1-3 killer features of your project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

John: 1. An open source protocol that allows blockchain to be mapped with Robot Operating System.

2. Device (Robot) Asset Ownership in a fractional manner and earn rental yields

3. Robot NFTs and games is something is very innovative we are bringing to the ecosystem

Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?

John: Our investor are the customers / enterprises (schools, offices, retail outlets) who take these robots on rental. We generate monthly rental revenues.

Another set of investors are customers who want to build application on our platform or customize their robots with our protocol.

Do you have any agreements with some companies to integrate your Robots?

Shaik: Yes, we have few active projects.

The Crypto field is full of many projects, how do you plan to compete with the industry leaders?

John: You can only compete if you have clear business vision and technology capability to execute that with support of an ecosystem and community. That's why we are looking for community support.

Once again, thank you all for your continuous support and participation. We are grateful that you have expressed an interest and the activity in chatting!

If you want to find more information about NEXT Protocol, you can check our review article: 

Buy NEXT tokens - 

Stay tuned for more updates!

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