1.Is bePAY designed for casual or professional users?
Our platform is designed for anyone who is a newbie or has experience with crypto. Since 2012, my first startup brings mobile apps to millions of users globally and today we leverage our extensive experience on UI/UX to help bePAY be accessible by anyone in any country.
We have experience running mobile products for more than 300,000 users. The friendly and easy-to-use product are our advantages. More than that, our CTO & Co-Founder - Ngoc Truong already built a mobile app that has more than 4 million users. So keep connected and updated to be one of the early adopters for our solution!
No one can dispute that DeFi and NFT are having an impact right now. With the participation of major businesses - recently Facebook; NFT and DeFi projects have gained a lot of traction and garnered millions of dollars in funding.
Besides accelerating the decentralized finance wave with our BNPL platform permitting in-store and online buying, bePAY will give BNPL solutions to users seeking to participate in Play-to-Earn (NFT) Games.
Crypto enthusiasts may now get started on their journey faster with the support from bePAY when opting to invest in Play-to-Earn games, which are becoming one of the most profitable sectors of the 2.5 trillion dollar business.
Here is the sharing of Mr. Ho Quoc Tuan - Senior Lecturer in Accounting and Finance at the University of Bristol in England about NFT and DeFi trends in the future:
What will the future be for the integration between the Defi protocol & NFT? | Global AMA bePAY 2021
3. Why should we take NFT seriously?
More than just NFT and collections! NFT now is a backbone of the metaverse! We see the trend of Metaverse will be mainstream in the next 10 years. And it will bring us a trillion dollars of value in creation, trading, DEFI... and bePay is strong support for this trend!
One of our major target markets is the NFT market. And we plan to have the first version of the product in Q1.2022 for the NFT market. You could start to buy NFT buy BNPL service at that time!
4. What is the difference between Multi-Asset Staking and Single Asset Staking?
Multi-Asset Staking is the next phase of the project. For example: When you are a merchant, you could use a lot of your assets like Fiat, NFT, Token to staking in bePay to earn beCoin token and other perk. You could think bePAY is a Digital bank in the future in the metaverse and NFT.
5. How are loaned assets mobilized? How to divide service profits? What are the benefits of bePAY token holders?
Assets will be raised through bePool. Profits from providing BNPL services (BNPL fees, late fees, payment fees...) will be divided back to the Capital Provider / bePay Platform / Reserve Fund according to a certain ratio.
bePAY token holders will benefit from the bePAY Platform. Merchants and users can participate in Staking for more rewards.
6. Please explain the process of borrowing and repaying the loan, in case the customer is unable to repay the loan and the collateral may be NFT reduced in value, how to avoid bad debt and the possibility of recovery of those debts.
The process of lending and debt recovery will be quite a lot of work, but it can be reduced to 3 fields like this:
- 1.Choose the right goods and merchant
- 2.What is the optimal initial loan amount?
- 3.Choose an item that guarantees high customer turnover
7. What makes bePAY stand out from other projects?
First of all, we are pioneers providing BNPL service for the NFT Marketplace platform and Metaverse project.
Second, bePAY technology can provide users and merchants with a larger loan than others, easily paying at maturity at a low cost.