Yesterday was an exciting one for the KamPay family. We not only had two new partnership announcements (YooMee and W3BT - check out our Twitter for more info on that), but our last AMA of the year was a success! We had so many great questions from our community and our team did not disappoint with their answers. And we know that not everyone was able to read it all live, so we prepared this review to make sure no one is left behind on all the information we got. Here is the transcript, enjoy!
MODERATOR: Let’s jump in right to the questions! The first one is: what actions are planned to increase investor adoption?
Education, Education, Education. Most of our time is spent with investors explaining what we do. We tend to find that once they get the full picture, which is quite complex, they are fully onboard. We have spent time and resources and a whole heap of luck finding partners such as Between Collective who have the whole picture and are working tirelessly to convey this message across the mediums. Our plan was always to build and then market as so many tokens out there today never get to finish what they began by spending all their budget marketing too early. We plan to do so sustainably and within our means as to not rely on liquidations to fund our development and growth.
MODERATOR: And what about the lottery launches?
The site is actually ready and you can see the first one at cmlotto.com . We are awaiting the go ahead from Cmlotto and local clearance after testing and then cmlotto will make the payment options and the site live to accept kampay. Really excited!! We’ve already started working on the next 2 territories and hope to streamline this process as we enter more markets.
MODERATOR: How have the advertisements in Africa been received, has there been much engagement?
It’s been very positive! We’re extending our network of influencers on the continent with every passing week. We’ve been in contact with several key opinion leaders and other African Crypto moguls who have expressed interest in collaboration. The Ghana/Accra bus work was received amazingly and we’re in conversation with the bus union there to do some workshops and have a more permanent presence in the public transport section. On top of this, we’re working closely with YooMee (Cameroon - glad the cat is out of the bag!) who have resonated with our previous work and hopefully we'll soon have a large campaign to announce that will be focused on growing their mobile user base that will be done in conjunction with KamPay (and maybe Samuel Eto’o if all the stars align - one can hope). We’re in varying stages with other countries' marketing efforts (namely, Zim, Kenya, Sierra Leone & Nigeria). It’s a tough gig making sure that we get the cultural relevance right as all these countries are wildly different, but we’re making great strides.
MODERATOR: How do you see Kampay performing if we were to go into a ‘Bear Market’?
One of the key elements of KamPay is the great utility in the whole ecosystem, meaning that regardless of the crypto market cycle, as long as there is utility there is use of the token,hence we should be less affected by such market conditions relative to other cryptocurrencies. Real adoption promotes sustainability of the token. The ups and downs of the market will sort the real projects with the others. There is a cyclical weeding out of non sustainable projects and everything we are doing now is in preparation of a bear market whereby no additional funds can be injected and we have to continue to do what we do to survive if another crypto winter should come along.
I think the biggest challenge for tokens over the next few years will not be that of market fluctuations but that of new rules and regulations being in place and how they are interpreted globally. With us advising and working alongside key decision makers, we believe that KamPay is perfectly poised to take advantage
MODERATOR: What type of advertising methods are you looking to utilize in Europe?
We’re focusing on crypto-marketing for Europe (western market as a whole let’s say), the key audience is investors and the goal is creating positive price-movement. We’ve spent the past couple of months really focusing on foundation setting; creating a consistent message, being present, ticking off all of the ‘crypto’ boxes for projects to be seen as sound investments. Which we’ve mainly achieved, we’ll be relaunching our website in the next week or so that will be clearer, have updated roadmaps for each stream of work, and we’ve been managing all of our other public touch points (if you look at the teams LinkedIn profiles now, you’ll see that they’re all looking pretty swish) + plenty more behind the scenes work.
The next big step for us is influencers and PR. The targets are tier 1 & 2 profiles (think Alt-coin daily) that will talk about us and promote us to their followers, the key reason it’s taken the time that it has, is that if we spend X amount on onboarding a partnered influencer, if the potential new investor drops into our world, we need to make sure that everything is perfect so there is no doubt about whether or not they’ll invest. We don’t have dates yet to share, but the team is looking to have our first zoom meetings at the end of this week, early next. From a PR point of view, we’re working with JukeBox who are absolute guns at getting a message out there. We’re talking to them weekly about what we can push, and in-line with some of the announcements and goals in the road map we’ll be published across multiple platforms.
MODERATOR: Are there any banks that you are working with to provide access to kampay?
Great question! We are indeed. We are working closely with central banks in multiple jurisdictions creating the framework as we speak. This is a slow process as there are many stakeholders involved. We have to take into account local laws and custodial rules as well as mitigating the transaction costs whilst being on chain. We are working with what we have now but may well look to develop our own low cost protocol in the future to aid with our development.
MODERATOR: And what about governments?
This is similar to the point above as some central banks are independent and some government institutions. In addition to payments we are also looking to assist in where blockchain and KamPay tech can be a cost and time saver. For us, this combined with the enabling aspect of mass adoption is even easier. In some territories we have been asked to present solutions from how to distribute development and aid as well as being a payroll payment service for social services. The problems we are presented with will change all aspects of life and as such we will do our best to accommodate.
MODERATOR: And how can the interaction be improved? so that KamPay is always in the conversation.
Collaboration is going to be key with this, we’re working on marketing plans for each partner that we have and will be delivering marketing material and creating conversational topics to grow into their audiences. Sharkcoders for example, we’ve signed off a 3 month marketing plan on Monday that will have cross promotion on all of our channels so we’ll be gaining more engagement from different audiences. This will be done with every partner (currently working on the plans for MELD) so expect new faces and big conversations coming through.
MODERATOR: Now tell us, when can we expect the gates to open so that all residents on the African continent can buy kampay without any technical understanding?
I think you have just seen a preview of this with today's announcement of our partnership with YooMee mobile. By partnering with local telcos, we are able to facilitate low profile customers and engage them with cryptocurrencies with little technological understanding on how a crypto wallet works and having to own multiple devices. Our CTO Yigal has been hard at work using feature phone technology to authenticate crypto transactions on our own back end. Due to the transactional cost, this would have to be a centralized solution but this would give the user with little technical knowledge the ability to participate in the crypto revolution without the need for additional education and equipment. This would also provide them an additional layer of security to their crypto assets.
MODERATOR: For our next question: Is there any marketing campaign in motion?
So many, we’re working to a PESO model - Paid, Earned, Shared and Organic/Owned marketing. You would’ve seen today a big paid campaign coming out soon with W3BT and getting some massive reach out on TV and Times Square.
Earned is our PR strategy, so with JukeBox we’ll be getting a large amount of activity across different media outlets, ranging from Business Insider to Disrupt Africa.
Shared is our community - you guys and our partners! So the work you put in each day on retweeting, creating memes and spreading the word, as well as the marketing plans we’re implementing with our partners will grow out of this space.
Organic, is our always on work. The Crypto in Africa series (Part 2 due very soon!), weekly digest, regular tweeting, blog posts etc.. While these may not seem like they’re achieving massive results, we actually drive a lot of traffic - last week 30% of our traffic to the website was from organic channels compared to <5% 3 months ago. This is a longer term play and will give us better sustainability in marketing in 6-12 months.
MODERATOR: What is the team working on in the background now? Have the goals of 2021 been met? Are there any delays/changes in plans? What are we looking forward to in the next 1-2 months?
So much going on in the background now, we’ve started to break out the work into a Defi-Stack:
Wallets for P2P and Merchants
Learn to Earn
Crypto for Good
Each stream is being managed by different members in the team with differing partners. Some of these were planned at the start of the year, some of them are a lot newer. We've had some delays (namely around lotteries due to delays beyond our control), but we’ve made this up with new activities. We believe that we’re truly wrapping up the year in a very positive spot and it feels like every week we’re making major progress. And there hasn’t been a setback we haven’t overcome. In the next 1-2 months; new website, new partnership marketing strategies (more cross promotion), beta environments for Coding Africa, proof of concept for KamMobile, live lottery payment gateway, more games available on Playmoon.io, Tier 1-2 influencer, and our first merchants using KamWallet. No Xmas for us ;)
MODERATOR: Is the team worried or actively trying to increase the coin value as we haven't managed to break the ido price on various occasions? Are there any plans for rewarding loyal investors? (Liquidity pools, staking to be continued into the next year etc?)
We would be happy to see the token price appreciated, as it's beneficial for the investors, users and the whole ecosystem. We are promoting the project in various ways and different media as we are not allowed to get involved in the price action itself.
Rewarding our early investors is on our minds, we will continue the Staking on Coinsbit and soon we will have Staking on the KamWallet, farming will begin in the near future
MODERATOR: About the community, is it possible we get a more active chat? Maybe like the news digest that is a weekly thing, a small newsletter with what went on that week and what's coming up the week after?
Of course! We have been plugging away at the development of kampay and agree that the communication can be increased. I’ll speak to our wonderful marketing team to increase our engagement with our KamPay family. Sometimes it's not like we don't want to tell but the modern day businesses have us all tangled in NDAs until they are ready also. We are working with big multinational conglomerates and as such, they are taking longer to sign things off than we would like.
It’s nice to hear that despite the NDA walls, the team is doing their best to share everything with the community. We’ll certainly do our part and get it buzzing!
And that concluded our AMA. That was some amazing information coming from our team, and it surely lifted the spirits of everyone reading. Stay alert for our first AMA of 2022 as we are expecting even more news and even better questions to be answered. Until then, make sure to Please join the conversation on Telegram: https://t.me/KamPayOfficial so you don’t miss out on our announcements and follow us on Twitter: https://twitter.com/KamPayToken.