We had another very interesting AMA session, this time together with @CryptoLegacyEN to talk about Mylivn network, $MLVC, our milestones and what’s next.
For those who missed the session — we’ve got you. Read through the transcript and enjoy the most frequently asked questions answered by our CEO Lars Luethke.
Rollsito: We welcome everyone to join us at this prestigious AMA event with Mylivn Coin
Lars: Hello everyone, nice to be here.
Rollsito: Well, what do you think if we start with the AMA
Lars: Yes, lets go
Rollsito: Q1. Can you provide a brief introduction about the team behind Mylivn?
Lars: Hi everyone, my name is Lars Luethke and I’m the founder and CEO of the mylivn network. In 2015 I founded mylivn with the vision to create a multi purpose social network where the user has the power of content and everybody could make a living by sharing content they love. After developing the first prototype we started in 2016 the development of the actual mylivn network. Our companies headquarter is in Munich, Germany. At the moment we are a team of 27 developers, marketing heroes and crypto enthusiasts. In our development team we have specialists for backend, IOS, Android, QA, Blockchain and Web.
Rollsito: Q2. What potential does your native token have and what are its different use cases?
Lars: The mylivn coin ($MLVC) is a utility token for the social network mylivn. $MLVC is the universal currency inside our network to make and receive payments. Mylivn users will use $MLVC inside the network to pay donations, account subscription fees, content subscription fees and fees to access premium chats. Users will also use $MLVC to buy NFT’s, merchandise or promoted products from their favourite influencers/creators. Therefore users have to buy $MLVC from the market or make off chain transactions inside our network which mylivn has a treasury to hold for.
The mylivn network will share with its PRO creators 70% of its advertisement revenue which will be paid out in $MLVC too.
Mylivn gets paid by its adverisement partners STROER + GOOGLE in Fiat and will use this Fiat to buy constantly $MLVC from its holders from the market to pay the PRO creators. All these cases are huge benefits for the value of $MLVC. The more the network grows the more $MLVC we and our users will buy from the market to pay the creators.
Rollsito: Wow it looks like your token will receive a lot of appreciation this year.
Rollsito: Q3. Can you talk a bit about your customers and how they will benefit from your products and services?
Lars: For sure, let me explain. Our customers are all creators or influencers which wants to make a living of their creativity or just monetise their audience.
The biggest benefit for all our users is that they have always the posibility to decide if they wanna monetise the content they will share or not. So our system is absolutly flexible for everybody. For example, if I upload a video today and decide that my followers have to pay for that video it does not mean that my followers have to pay for all my videos.
Could be that I’m a fitness influencer and only for my fitness exercise videos my followers have to pay but the rest of my content is for free.
Rollsito: interesting
Lars: An additional side effect is that since all creators get paid in $MLVC the value of $MLVC will increase constantly which is also a hige benefit for all our creators.
Rollsito: Q4. What is that Mylivn milestone that you are most proud of achieving?
Lars: Thats not easy to give an answer for.
At first I have to say that there are lots of things we achieved so far we are proud of, there is our team and our community which we are very proud of for example. But there where also definitely some special moments like when we launched the app on IOS and Android, or when we hit 100K downloads (we have now more than 330k) or when we made it to 6th position in the european APP-STORE and where in top 10 in the US.
We hope that there are lots of things coming to be proud of in the future too.
Rollsito: Wow that is a lot of acceptance by the community!
Lars: Yes, thats true and we are thankful for that. But this is just the beginning.
Rollsito: Q5. What plans does Mylivn have for this 2022?
Lars: We have lots of plans since our roadmap is fully packed but the main things are the public sale of $MLVC in a couple of weeks and the listing on the first exchange or the launch of our monetisation program in our app in Q2 2022. Also we are really looking forward to have the first NFT’s in our network and users selling and buying them. Here is our roadmap for all the topics of 2022. There are lots of exciting things to come.
Rollsito: Crypto legacy community have the opportunity to participate in the public sale?
Lars: Yes for sure. We had already a private round where we collected $5.4 Mio so the next is the public round.
Rollsito: Thanks for your answers, we just finished the segment of:
“Introductory questions”, we move on to the segment of: “Twitter questions”
Lars: Ok, thank you for that:
These option for now users will have on our system to monetise:
- creating and selling NFT’s
- receiving donations and subscriptions
- selling their own merchandise or products
- giving access to premium accounts or content
- using partner links with payment per click or action.
The flexibility in our system is that users always have the choice to use one of these features or not.
For our ads system we stick to two formats — we calculate attribution of each creator when their content is viral in trending sections and we show ads in personal sections if creator wants it. Like in between story elements or inside users channel itself.
By law we cannot allow children below 16 to register without concent of parents. In the future we would create a process for this and protected area with more aggressive content filters for the audience of this age.
We will come up with our own filters and maks but they will not be much different to the ones you know already from the market. We focus more on our monetisation program and on our interactive map which will be step by step become a virtual world in our network where users can virtually meet and discover places. We wanna focus on our uniqueness and not on things users have on every other network.
But for sure we need to have market comparable masks and filters too.
Our network is absolutly fair, we do have in all our main sections recommendations because we absolutly believe that this is the future. The community or the user itself has to decide which content is popular or not. In nearly all the big networks so far the algorithms decide what the user will see and not. In mylivn the community and the user decides what he or she will see.
Community: I believe that not everyone has the talent to be a content creator, and I read that Mylivn’s mission is to give every creative mind a home. But what about the people who are not so creative? What are the different ways to generate income with your social network? Will only the big influencers thrive or can everyone do it?
Lars: Hello Leya, we started mylivn not for the big influencers we did it for evrybody. In our system monetisation is not pending on size of your account or number of followers you can for example sell NFT’s or if you have some special videos to share you can share it as paid content you can also set for your account a subscription. There are lots of options for everybody.
Community: I believe that not every project is perfect, how will your team project investors from errors and hackers on your project, is there any specific team for hacking/cheating/bug problems ?
Lars: Thanks for that question. We are working very close with AWS which provides us with a lot of support and services in these fields. We have some specialists for these collaboration in our team.
Community: In its roadmap, for the first quarter of this year, it mentions the opening of live videos on the platform. Now, will this be another opportunity to generate revenue through the platform? What is the time and usage limit that will be set on live? Give us more details on this.
Lars: Yes it is right we will publish live videos in Q1 and it is true that this will be another monetisation option in the future. User can start a live video and let followers pay for excess. Or for our PRO users we will display advertisement in the live session so that they will earn $MLVC via live videos too. One of my favorites of the future is live shopping where users can sell stuff via live sessions.
Community: Every project has an interesting story before it is created. What motivates you to build and develop great projects like this ?
Lars: When we started we realised that the existing networks are not beneficial for their users at all so we wanted to start a much more beneficial network for every user and for example monetisation of content or popularity was in the past only done by the network itself which is absolutly unfair. And we wanna change that.
Community: Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Lars: I think the best argument for holding $MLVC is that with the growth of our network the value of $MLVC will increase tremendously.
Community: The word Metaverse is trending now as Facebook changed its name to Meta. Can you share with us your views about the Metaverse and you introduced it in your platform?
Lars: Thats a realy good question. The mylivn network has an interactive map which we call smart world where users can actually discover places by content or leave their digital footprint on it with videos and pictures. We let our users follow their favourite locations like you follow people. This map we will step by step convert into a virtual world where people can meet, discover places or join live events virtually. So this will become the mylivn space in the metaverse. Just imagine you can meet, shop and discover there virtualy.
Community: MYLIVN is a long-term investment designed to generate sustainable cash flow. Since it is long-term, how long would an investor expect to wait until they can see revenue from their investment?
Lars: We will sart in Q1 2022 with advertisement inside our network so at that moment you will see revenues. It will not cover our costs immediately but with the growth of the platform it will increase too. Our calculation is that we will be profitable at the end of 2023
So many great question. Thank you Mylivners!
