OIG AMA with Jigen
The first NFT gateway for Fashion and Luxury items in the Metaverse and Gaming ecosystem.
Saigon 💎 | OIG: Greetings OIG Community! We have with us today Jigen, the FIRST NFT gateway for luxury and fashion items in the metaverse and gaming ecosystem. Representing Jigen, we have Filipo Ricci (Co-Founder and Senior Operations Advisor).
Welcome to the OIG Main Stage @Fil_Jigen! Can you introduce yourself briefly to our community?
Fil — Jigen [Never DM First]: Hello everyone, it’s a pleasure to be here to explain Jigen to the community! I’m Filippo, founder and SOA of Jigen. I’m the business owner of RFR Fabiano Ricci, an Italian sneaker brand, and I’ve always been part of the fashion industry because of my family tradition. I also worked for Gucci in the past, where I matured a strong experience in the luxury field. Moreover, I’m a crypto enthusiast since 2017 and I followed all the evolution around the NFT space.
Happy to answer all of your questions
Saigon 💎 | OIG: Pleasure to have you here with us today! An incredible experience you have coming from a brand like Gucci!
Can you summarise for our community what Jigen is?
Fil — Jigen [Never DM First]: Yes, of course! In a nutshell, Jigen represents the first NFT bridge for Fashion and Luxury items in the metaverse.
We’ll offer asset-backed NFTs that can be brought to different metaverses as wearables, generating a new economy for luxury goods. And thanks to the use of blockchain technology we solve the problem of counterfeiting while enabling users to trade their luxury items in a much easier way compared to the classic resell, which involves shipping the physical item.
Saigon 💎 | OIG: This creates an incredible layer of authenticity that is easily verifiable! Something that is drastically needed for the luxury good industry!
Can you tell us about the background of the core team, what relevant experiences do they bring to the project?
Fil — Jigen [Never DM First]: Sure, Nicolò is the other co-founder and CEO, he’s been in crypto for a long time and in the blockchain development from the beginning of the defi epoch.
The rest of the team is composed of very talented individuals: a top lawyer specializing in Intellectual Property and FinTech Law, a sales agent for luxury brands with 10+ experience and an experienced product manager who worked for a big development agency in the past.
And lastly, our advisors Max and Sundeep from Mantra Dao and Trustswap, are helping us in each phase of our project with their skills and connections.
Saigon 💎 | OIG: A very talented team that you have created around Jigen! The experience around the industry is top-notch.
To get back to Jigen. Can you outline the key features that you are bringing to the market?
Fil — Jigen [Never DM First]: We’re developing the first launchpad for asset-backed NFTs. Our NFTs, depending on the partnership, will also have different rarities and the entire process to get selected will be randomized through Chainlink, and we’ll make sure to distribute them in a way that rewards our top holders.
We are also going to have a claiming section on our app always available for the NFT holders to claim their physical product! Furthermore, our NFTs are unique since they won’t be burned after the claim, but we’ll change the metadata associated with them, making them dynamic.
Saigon 💎 | OIG: Amazing, I can see a huge demand for this!
Why back Luxury items with NFTs? Can you give us some use cases?
Fil — Jigen [Never DM First]: There are multiple use cases linked to asset-backed NFTs: the possibility to track and digitize the lifecycle of the brand items avoiding the counterfeiting issue, the creation of a new liquid market on the blockchain (rather than a physical marketplace like stocks for example!) and the metaverse integration to enrich the user experience. NFTs are the core of our ecosystem, therefore the more the metaverse partnerships and the higher the value perceived for Jigen! Moreover, with the support of NFTs tied to physical assets, a wide range of applications in defi are possible, like the NFT fractionalization for the most expensive items
Saigon 💎 | OIG: The idea of fractionalized ownership for expensive items will open up so much access on a global scale!
What other benefits will your ecosystem have for companies, buyers and sellers?
Fil — Jigen: I really believe that Jigen can be a game-changer for all those brands that want to approach the blockchain space but don’t have the infrastructure and connections required to have a successful launch of their products. We’re giving them support in all fields, from the creation of smart contracts to the marketing exposure in the nft communities. Moreover, buyers are recognizing the importance of NFTs and I’m sure in the future people will give more importance to all those items connected to the digital identity rather than the real one: this is already happening as we can see with Twitter profile pictures! Jigen offers for the first time a complete solution to get ownership of items while flexing them in the metaverse.
Saigon 💎 | OIG: So many incredible highlights to break down here!
Let’s move on to the token utility for Jigen. $JIG token is a core element of your ecosystem. How will It empower your community? What are its utilities?
Fil — Jigen [Never DM First]: The JIG token will be used in three ways: to get exclusive access to our NFTs and privileges within the platform, to stake our tokens and get rewarded, and finally to be part of the governance, so that in future holders can also participate in the process of NFT creation.
An important feature to be mentioned is that 60% of all fees collected from each NFT trade on the secondary market will be used for $JIG buybacks and burns. It means steady upward pressure on the price in the long term, especially when our ecosystem will be at full capacity. In these terms, holding JIG is like being constantly exposed to the luxury market on the blockchain.
Saigon 💎 | OIG: Excellent thought behind the ecosystem and supporting the price of the token!
Have you made any good partnerships or have any big brands onboard?
Fil — Jigen [Never DM First]: We’re partnering with many crypto projects, as you can see also from our recent announcement with Fidira. Our focus is on building collaborations especially from the metaverse and gaming ecosystem and we’ll gradually announce big names throughout December. Brand collaborations represent another crucial factor for our ecosystem and we’re currently discussing with many of them, thanks to our network within the industry. It’s still early to make an announcement regarding this, also because the nature of the agreement is totally different from crypto collaborations and there are many more aspects, also from the legal side, to take into account.
Saigon 💎 | OIG: Amazing! We are excited for news of the first brand unveil!
What has Jigen achieved so far that you are proud of?
Fil — Jigen [Never DM First]: We’re really happy to see that our community is growing fast and the interest towards the project is impressive. And we haven’t announced anything yet regarding our IDO and launchpad partners.
We want to make sure to keep our community engaged through activities, events and giveaways for the next weeks!
Saigon 💎 | OIG: You guys are doing a phenomenal job right now with the community engagement, it’s great to see you build up such a dedicated community base!
What do you have planned in your roadmap that we should know about?
Fil — Jigen [Never DM First]: We expect to launch the platform for Q1 of 2022, all the smart contracts are already being worked on and we reached a good stage of development. The next steps in the roadmap are mainly focused on achieving the integration with most of the famous EVM compatible chains such as ETH, Avalanche and Polygon by the first half of 2022. We will also be developing our Governance, which in my opinion is one of the most exciting parts for the holders because they’ll be able to vote and participate in the process of creation of our fashion items.
Saigon 💎 | OIG: Incredible! “Vote and Participate in the process of creation of fashion items.” That in itself is an entirely brand new conversation!
Well @Fil_Jigen at this point we’d like to turn it over to our community questions on Twitter where we had an incredible turnout for Jigen!
Community Twitter Questions
Fil — Jigen [Never DM First]: Thank you for this question. This is exactly where our innovative system of dynamic NFTs comes into place! Since we don’t burn the NFT we can just change the status of the NFT back to unclaimed and take care of the replacement of the damaged product :)
Saigon 💎 | OIG: Amazing mediation method!
Fil — Jigen [Never DM First]: Each holder will benefit in the long term from the exposure to the “meta-luxury” market, regardless of the amount of JIG token held. In fact, 60% of all fees will be used for buyback and burn and this will ensure a proportional benefit for all of our members.
And regarding the launchpad dynamics, in order to access and get rare NFTs, the probability is proportional to the number of JIG tokens held in the wallet. But at the same time, we’ll ensure that any holder, even those in the lowest tier, can still be eligible for the rarest collectibles of a specific collection / nft drop.
Saigon 💎 | OIG: A very fair and balanced system!
Fil — Jigen [Never DM First]: It’s exciting to see how big brands are already opening their eyes about metaverse, especially after the Zuckerberg announcement of Meta. Our goal is to facilitate the migrations of those brands towards NFT and metaverse. As I mentioned before, we’ll support them in any activities required, like development, marketing and even metaverse collaboration.
Saigon 💎 | OIG: Amazing, so onboarding brands and companies that want to make the jump to Metaverse/Blockchain. Great support system!
Well @Fil_Jigen this about sums up our time here at the OIG Main Stage! Are there any final words you would like to leave with our community?
Fil — Jigen [Never DM First]: It was hard to summarize all our ideas and efforts made for Jigen, but I hope I made clearer the vision of our ecosystem. I want to thank you for your time. I suggest to anyone to follow our socials and join our community to ask further questions!
Saigon 💎 | OIG: Absolutely! Thank you for taking the time to join us today and show us a glimpse of what is happening in the world of Jigen! We encourage everyone to check out Jigen’s growing community!