On the 25th of May, TAG community has a Telegram AMA with BITBOOK.
At the AMA : Nick van der Kolk is CEO of BITBOOK, introduced and shared many interesting information about BITBOOK.
And here are the key takeaways of the AMA:
Tag: The AMA would be happened as follows
- Segment 1: Greeting and Introduction.
- Segment 2: Answer the closed questions from Twitter (5questions)
- Segment 3: Live Q&A session (6 questions)
Tag: For starting segment 1: Could you please introduce your team and BitBook?
BITBOOK: Gladly, the team have
worked for years in the travel industry, from business travel booking platform,
to having worked with the biggest hotel chains. After extensive experience in
Crypto and over a year of listing projects on KuCoin exchange, we now have the
exact blueprint and knowledge on how to execute on our business plan. From the
same co-founding team of VPNresellers, our team, comprised of marketing and
sales experts, along with solid engineering expertise, makes us a powerhouse
for success
Tag: To continue, Could you tell us what are the
competitive advantages of BitBook compared to other projects?
BITBOOK: I do not want to talk bad about other
crypto companies, what I have seen in my years of working at KuCoin, crypto
companies make the mistake of not having a solid working growth model. BitBook,
on the contrary, is built with a focus on growth where everyone benefits:
travellers are rewarded with tokens when they use our platform, content
creators and influencers get rewarded bringing traffic to the BitBook platform.
BitBook’s business model will be split into three
different revenue streams:
– Competitive commission model for every booking
made on the BitBook platform.
– Affiliate Marketing to sell third party
products (Insurance, flights, car hire etc)
– Advertisement to enable our partners to offer
relevant products and services.
Last but not least:
100% of the revenue streams will be used to buy
back tokens from the market, they will then be burned, decreasing the total
circulating supply which will drive up the value of the BitBook token.
Tag: And now please share with us some new
upcoming events, as well as big partners BitBoook has been working with during
its development period.
BITBOOK: We will launch our MVP
booking engine in the first week of June during the IEO. You can then book
hotels and flights, we will be connected with the Booking.com inventory, so we instantly have a large amount of choice
available on the platform to book.
Besides that, we are now giving away at random a holiday of
$3500 to our community on Telegram. I pay for this myself personally, all funds
from token sale will be used for the Platform. I do it to show my great
appreciation for our community. So if you want a chance to win a trip to the
Maldives , join our telegram: https://t.me/bitbooknetwork
To continue, we turn to Segment 2: Answer the
selected Twitter questions.
First
of all, I would like to say thanks to Tag’s members who have sent many
questions about BitBook to us..
Tag: The first question of this segment is:
What is the life-changing offers that your project could provide to its
investors that would make them satisfy holding your token?
BITBOOK: We are a
travel platform that has a significant growth trajectory ahead of us. If you
look at our competitors in the crypto space, we can climb up over 50 times the
IEO value. Beyond that the big players like Booking.com
and Expedia.com are so big that it would be life
changing if we could take a % of that marketshare.
Also, what I would say is that 100% of our revenue will be used to buy tokens
from the market. The longer you hold your tokens, the less tokens will be in
the world. We will commit to doing this for 20 years
or until we have purchased back 90% of the
total supply.
whatever is faster!
Tag: And the next question is:
Marketing strategy is very important for every
projects. So what are your plan for this? How will you expand your
relationships and build strong communities in both English and non-English
speaking contries?
BITBOOK: You are absolutely correct, our marketing plan is build on
rewarding content creators and influencers who share the content. We do this by
having a dedicated reward pool each month. That will be given to those 2
groups. These people will be from all over the world, as we are a Travel
business after all. We will support all languages and make it possible for
people to explore the world.
Because I have managed over 100 people in my previous company at TravelPerk,
who did over 700 million euro in bookings each month. I have many relationships
and connections with the most important partners. To be able to launch BitBook
the reward programs will run for 20 years
(each month a dedicated amount of tokens, always no matter what)
Tag: The 3rd question is:
NFT use cases are plentiful in the Crypto space
for blockchain projects and and are trending apart from Defi, How do token
think about the evolution of NFTs in the Crypto space?
BITBOOK: I see
NFT as a very interesting development, I am focused on Travel but our token and
market place has room for affiliate products. Most logical thing would for
example be a company that sells Travel bags. They can do so and all the
commission we make from that we would use to buy tokens from the market.
I see possibilities to have NFT connections similar to that.
I do not have a broader vision of thoughts
on NFT, I am focused on building the Travel platform (is already busy enaugh,
haha)
Tag: The 4th question is
What is your plans for global expansion,on
building and developing or getting customers and users, or partnerships?
BITBOOK: We will launch our MVP product first, this
will enable us to start making revenue straight away. We will then use the
reward programs to make it financially very interesting for people to make
money, by creating travel content about Vietnam for example. Someone who has a
large following on Facebook, could share it and make a passive income in tokens
from doing that.
Last but not least, if you book your holiday on
BitBook, you will not only get a great price. You will get tokens rewarded. If
there are only a few bookings in the beginning, you will get a lot of % of that
month of tokens. If there are many bookings in a month, you will get less
tokens. But because there are many bookings and we make revenue. We will buy
tokens from the market and destroy them, increasing the token value!
Tag: And the last question is:
I understand that the rewards granted by Bitbook
depend on the users having reserved accommodation. Does this amount of rewards
vary according to the type of program and tourist location chosen by the
people? How can I get high amounts of rewards through the reservation used?
BITBOOK: So each month its the same amount of tokens that we have
available. The inflation of tokens is 0,25% per month for 20 years long. This
means 2,5 million tokens will be given in the reward programs. How much you
will get is depending on the amount of money you have spend in that particular
month.
If we have 10 bookings, with total revenue of 10,000 USD. And you booked for
1,000 USD a trip. You will get 10% of the tokens from that month.
The value of how high the reward is, will
depend on the value of the token. So the market will decide what the value is.
This
is a key difference from other competitors, they use the comission from hotels
to give that to the traveller. We don’t ,we have the token economy provide this
and use 100% of the comisssion we make to buy tokens from the market, creating
a positive buying pressure
Tag: Thank you for your detailed answer.
We have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live
Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions.
Let pick your favorite ones when the chat’s closed
Tag: Only getting users, holders etc is not
everything. In my opinion, a project needs to deal with solving a real world
issue or problem What is the problem that your project primarily focuses on?
BITBOOK: I love this question
because it is very true. I would encourage you to ask any hotel anywhere in the
world. What their biggest problem is. They will all tell you the same thing, it
is the dependancy on the big 2 booking platforms and the amount of comission
they have to pay there. This comission is at the end of the day being paid by
the traveller (you and me). Outside of Covid time, the number 1 google adwords
spender of the world is Booking.com , trying to beat them is very hard. This is why we use our
crypto economy to enable us to compete and solve the Hotels global challenge of
having to pay up to 30% comission
Tag: How do you plan to spread awareness about your project in different countries where English is not spoken well
BITBOOK: The world is a big place indeed and not evreyone speaks english or uses Google in english. So the way we do this is by enabling content creators that can be from anywhere, writing in any language to produce remarkable travel content to help people with advise on where to go and what to do on their holiday. We will have focus on many, many languages.
Tag: My question is about your long term marketing
plans. How, or through which big partnerships do you plan on utilising to pass
your product onto the normal – especially non-crypto people?
BITBOOK: Our content creators and influencers reach
evreyone, including non crypto people. Our travel platform will not only work
with Crypto, we will also support normal FIAT payments. All our revenue however
will be used to buy tokens from the market so increasing the value of BitBook
tokens.
We have big partnership with Booking.com in the beginning , as we need to have many different hotel
options available from day 1. But as time goes on we will directly partner with
the individual hotels and hotel chains.
Tag: So many projects just like to speak about the “long
term vision and mission” but what are your short terms objectives? What
are you focusing right now?
BITBOOK: So true, I have invested in ICO projects
in 2017, that still today do not have any revenue or have done anything useful.
Our short term objective is to have an amazing travel booking engine running.
Where you can book a holiday to anywhere in the world.
If
anyone here likes to Travel, I think BitBook project is a great project to have
in your portfolio , because we are going a very big market that has been hit
very hard by Covid. The great thing about that is that the competition is
weaker and I don’t know about you, but almost evreyone I know wants to go on
Holiday. I have been to Vietnam once and I would like to visit it again.
Tag: I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ?
BITBOOK: we will have a specific
reward program for Research and Development, we will indeed reward people who
find bugs or want to help develop
Tag: In the most projects especially defi those
ones offering yield farming are driven up by hype and scarcity, so when the
hype dies the project dies. What’s the key to sustaining Your Project ?
BITBOOK: yes most projects don’t
really do much in terms of producing revenue. So although I dont mind yield
farming and staking etc. I doesn’t really make a project better all it does is
reduce the amount of tokens in the market.
So I am not against it, but what we do, is make
real revenue , use 100% of that revenue to buy tokens from the market and burn
them each month in public on our blog
Okay!
thank you all so much for being here and all your questions.
Tag: Thank you to be here and share with us such helpful information @NickBitBook
Once again, on behalf of TAG Ventures and the members, we would like to thank you for being here today.
BITBOOK: Thank you for giving us
the opportunity to share our project with your community. Please follow us on
our socials and if there’s any questions we are happy to answer them.
On the 25th of May, TAG community has a Telegram AMA with BITBOOK.
At the AMA : Nick van der Kolk is CEO of BITBOOK, introduced and shared many interesting information about BITBOOK.
And here are the key takeaways of the AMA:
Tag: The AMA would be happened as follows
Tag: For starting segment 1: Could you please introduce your team and BitBook?
BITBOOK: Gladly, the team have worked for years in the travel industry, from business travel booking platform, to having worked with the biggest hotel chains. After extensive experience in Crypto and over a year of listing projects on KuCoin exchange, we now have the exact blueprint and knowledge on how to execute on our business plan. From the same co-founding team of VPNresellers, our team, comprised of marketing and sales experts, along with solid engineering expertise, makes us a powerhouse for success
Tag: To continue, Could you tell us what are the competitive advantages of BitBook compared to other projects?
BITBOOK: I do not want to talk bad about other crypto companies, what I have seen in my years of working at KuCoin, crypto companies make the mistake of not having a solid working growth model. BitBook, on the contrary, is built with a focus on growth where everyone benefits: travellers are rewarded with tokens when they use our platform, content creators and influencers get rewarded bringing traffic to the BitBook platform.
BitBook’s business model will be split into three different revenue streams:
– Competitive commission model for every booking made on the BitBook platform.
– Affiliate Marketing to sell third party products (Insurance, flights, car hire etc)
– Advertisement to enable our partners to offer relevant products and services.
Last but not least:
100% of the revenue streams will be used to buy back tokens from the market, they will then be burned, decreasing the total circulating supply which will drive up the value of the BitBook token.
Tag: And now please share with us some new upcoming events, as well as big partners BitBoook has been working with during its development period.
BITBOOK: We will launch our MVP booking engine in the first week of June during the IEO. You can then book hotels and flights, we will be connected with the Booking.com inventory, so we instantly have a large amount of choice available on the platform to book.
Besides that, we are now giving away at random a holiday of $3500 to our community on Telegram. I pay for this myself personally, all funds from token sale will be used for the Platform. I do it to show my great appreciation for our community. So if you want a chance to win a trip to the Maldives , join our telegram: https://t.me/bitbooknetwork
To continue, we turn to Segment 2: Answer the selected Twitter questions.
First of all, I would like to say thanks to Tag’s members who have sent many questions about BitBook to us..
Tag: The first question of this segment is: What is the life-changing offers that your project could provide to its investors that would make them satisfy holding your token?
BITBOOK: We are a travel platform that has a significant growth trajectory ahead of us. If you look at our competitors in the crypto space, we can climb up over 50 times the IEO value. Beyond that the big players like Booking.com and Expedia.com are so big that it would be life changing if we could take a % of that marketshare.
Also, what I would say is that 100% of our revenue will be used to buy tokens from the market. The longer you hold your tokens, the less tokens will be in the world. We will commit to doing this for 20 years
or until we have purchased back 90% of the total supply.
whatever is faster!
Tag: And the next question is:
Marketing strategy is very important for every projects. So what are your plan for this? How will you expand your relationships and build strong communities in both English and non-English speaking contries?
BITBOOK: You are absolutely correct, our marketing plan is build on rewarding content creators and influencers who share the content. We do this by having a dedicated reward pool each month. That will be given to those 2 groups. These people will be from all over the world, as we are a Travel business after all. We will support all languages and make it possible for people to explore the world.
Because I have managed over 100 people in my previous company at TravelPerk, who did over 700 million euro in bookings each month. I have many relationships and connections with the most important partners. To be able to launch BitBook
the reward programs will run for 20 years (each month a dedicated amount of tokens, always no matter what)
Tag: The 3rd question is:
NFT use cases are plentiful in the Crypto space for blockchain projects and and are trending apart from Defi, How do token think about the evolution of NFTs in the Crypto space?
BITBOOK: I see NFT as a very interesting development, I am focused on Travel but our token and market place has room for affiliate products. Most logical thing would for example be a company that sells Travel bags. They can do so and all the commission we make from that we would use to buy tokens from the market.
I see possibilities to have NFT connections similar to that.
I do not have a broader vision of thoughts on NFT, I am focused on building the Travel platform (is already busy enaugh, haha)
Tag: The 4th question is
What is your plans for global expansion,on building and developing or getting customers and users, or partnerships?
BITBOOK: We will launch our MVP product first, this will enable us to start making revenue straight away. We will then use the reward programs to make it financially very interesting for people to make money, by creating travel content about Vietnam for example. Someone who has a large following on Facebook, could share it and make a passive income in tokens from doing that.
Last but not least, if you book your holiday on BitBook, you will not only get a great price. You will get tokens rewarded. If there are only a few bookings in the beginning, you will get a lot of % of that month of tokens. If there are many bookings in a month, you will get less tokens. But because there are many bookings and we make revenue. We will buy tokens from the market and destroy them, increasing the token value!
Tag: And the last question is:
I understand that the rewards granted by Bitbook depend on the users having reserved accommodation. Does this amount of rewards vary according to the type of program and tourist location chosen by the people? How can I get high amounts of rewards through the reservation used?
BITBOOK: So each month its the same amount of tokens that we have available. The inflation of tokens is 0,25% per month for 20 years long. This means 2,5 million tokens will be given in the reward programs. How much you will get is depending on the amount of money you have spend in that particular month.
If we have 10 bookings, with total revenue of 10,000 USD. And you booked for 1,000 USD a trip. You will get 10% of the tokens from that month.
The value of how high the reward is, will depend on the value of the token. So the market will decide what the value is.
This is a key difference from other competitors, they use the comission from hotels to give that to the traveller. We don’t ,we have the token economy provide this and use 100% of the comisssion we make to buy tokens from the market, creating a positive buying pressure
Tag: Thank you for your detailed answer.
We have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions. Let pick your favorite ones when the chat’s closed
Tag: Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?
BITBOOK: I love this question because it is very true. I would encourage you to ask any hotel anywhere in the world. What their biggest problem is. They will all tell you the same thing, it is the dependancy on the big 2 booking platforms and the amount of comission they have to pay there. This comission is at the end of the day being paid by the traveller (you and me). Outside of Covid time, the number 1 google adwords spender of the world is Booking.com , trying to beat them is very hard. This is why we use our crypto economy to enable us to compete and solve the Hotels global challenge of having to pay up to 30% comission
Tag: How do you plan to spread awareness about your project in different countries where English is not spoken well
BITBOOK: The world is a big place indeed and not evreyone speaks english or uses Google in english. So the way we do this is by enabling content creators that can be from anywhere, writing in any language to produce remarkable travel content to help people with advise on where to go and what to do on their holiday. We will have focus on many, many languages.
Tag: My question is about your long term marketing plans. How, or through which big partnerships do you plan on utilising to pass your product onto the normal – especially non-crypto people?
BITBOOK: Our content creators and influencers reach evreyone, including non crypto people. Our travel platform will not only work with Crypto, we will also support normal FIAT payments. All our revenue however will be used to buy tokens from the market so increasing the value of BitBook tokens.
We have big partnership with Booking.com in the beginning , as we need to have many different hotel options available from day 1. But as time goes on we will directly partner with the individual hotels and hotel chains.
Tag: So many projects just like to speak about the “long term vision and mission” but what are your short terms objectives? What are you focusing right now?
BITBOOK: So true, I have invested in ICO projects in 2017, that still today do not have any revenue or have done anything useful. Our short term objective is to have an amazing travel booking engine running. Where you can book a holiday to anywhere in the world.
If anyone here likes to Travel, I think BitBook project is a great project to have in your portfolio , because we are going a very big market that has been hit very hard by Covid. The great thing about that is that the competition is weaker and I don’t know about you, but almost evreyone I know wants to go on Holiday. I have been to Vietnam once and I would like to visit it again.
Tag: I’m a developer, and I’m interested in contributing to your project alongsides earning, Do you have any Bug Bounty to check for vulnerabilities ?
BITBOOK: we will have a specific reward program for Research and Development, we will indeed reward people who find bugs or want to help develop
Tag: In the most projects especially defi those ones offering yield farming are driven up by hype and scarcity, so when the hype dies the project dies. What’s the key to sustaining Your Project ?
BITBOOK: yes most projects don’t really do much in terms of producing revenue. So although I dont mind yield farming and staking etc. I doesn’t really make a project better all it does is reduce the amount of tokens in the market.
So I am not against it, but what we do, is make real revenue , use 100% of that revenue to buy tokens from the market and burn them each month in public on our blog
Okay! thank you all so much for being here and all your questions.
Tag: Thank you to be here and share with us such helpful information @NickBitBook
Once again, on behalf of TAG Ventures and the members, we would like to thank you for being here today.
BITBOOK: Thank you for giving us the opportunity to share our project with your community. Please follow us on our socials and if there’s any questions we are happy to answer them.