BTSE AMA Highlights: A Conversation with Michael Bramlage, CEO & Co-founder of Quidd, on October 14, 2021
Quidd is the original digital collectibles and NFT marketplace; for over five years, Quidd has facilitated the issuance, sale, and exchange of limited-edition, officially licensed digital collectibles, featuring more than 325 of the world’s most popular brands, including Marvel, Disney, Game of Thrones, Rick And Morty, and more; digital collectibles on Quidd pre-dates CryptoKitties by more than 18 months.
Here are the consolidated and edited highlights of the AMA.
• • •
Quidd’s Team
BTSE Moderator:
Welcome to today’s AMA event with Quidd. We are honored to have Michael Bramlage as our guest. Please begin with an introduction about yourself and the team!
Michael Bramlage:
I’m Michael Bramlage, CEO and co-founder of Quidd Inc. I’ve been working on Quidd for five years already. Before Quidd, I spent three years at The Topps Company, best known as a leading producer of sports and pop culture trading cards and collectibles. I’ve also spent seven years in Nokia and Microsoft as the Head of Product and Lead Product Manager.
• • •
What is Quidd?
BTSE Moderator:
Can you please introduce the project at Quidd?
Michael Bramlage:
Quidd is the world’s first — yes, first — marketplace for digital collectibles.
Today, Quidd has over 7 million registered digital collectors from over 325 of the world’s best brands, including Disney, Marvel, Rick And Morty, Game of Thrones, and the NBA.
On Quidd, our collectors can buy, hold, and sell their digital collectibles — off-chain — for real money (and withdraw!), or they can choose to mint their digital collectibles as NFTs on-chain to their blockchain of choice.
$QUIDD, which we will soon launch, is an ERC-20 token on Ethereum. It is the official and native token of the Quidd community and will be used, spent, and staked by our vast network of collectors, creators, and developers!
• • •
What Problems Does Quidd Solve?
BTSE Moderator:
What is the main problem that the team is targeting to solve?
Michael Bramlage:
One main problem is that our off-chain digital collectibles are growing in value in our aftermarket. Many are highly sought after and trading for thousands of USD. As the value increases, we need to offer our collectors the ability to own their collectibles forever and have a greater degree of freedom with what they can do with them.
Enter NFTs and the blockchain.
NFTs and the blockchain are vastly superior technical solutions that add real value to digital collectors. NFTs and the blockchain allow purveyors of digital collectibles to reach parity with physical collectibles, and in many use cases, exceed the value of physical collectibles….
Another problem is that collectors should reap more benefits for their contribution to our ecosystem. Successful collectibles markets thrive on the contributions of a sea of individual collectors — they perpetuate demand, provide after-market liquidity, and are the cohesive force between the collector community. We think these collectors should have a seat at the table to reap greater benefits from the markets that benefit significantly from their contributions.
As students of markets and collectors ourselves, the community does most of the work! For instance, the Pokémon community of collectors does the majority of the work to make collecting Pokémon trading cards awesome….less so the makers of Pokémon! By putting utility tokens in the hands of our collectors, we help empower them economically and provide the benefits to match their contributions to our great community.
BTSE Moderator:
How is the team going about solving this problem?
Michael Bramlage:
As the world’s first marketplace for digital collectibles with over 7 million registered collectors and 325 well-known brands, Quidd wants its collectors to own their collectibles forever, and Quidd intends to give them the agency to determine what *and where* that happens by integrating blockchain technology to our already established marketplace, allowing collectors to choose whether they want to mint a certain item on-chain, and on which chain. Fusing a token system into Quidd enables collectors to monetize their collection if needed and enjoy perks if they hold the token.
In short, we want to maintain Quidd’s legacy of always being “mainstream-ready” for OG collectors, but we also want to capitalize using blockchain (Ethereum, layer-2s, Solana, Flow, etc.) as technical solutions allowing collectors to preserve their collection forever and monetize their effort.
In doing this, Quidd, we believe, has the best shot of bringing the next 100 million people to the blockchain, in large part by attracting no-coiner fans, getting them to enjoy off-chain officially-licensed digital collectibles, and then converting them to the blockchain for huge benefits like metaverse interoperability and access to new markets like OpenSea.
• • •
Quidd’s Name
BTSE Moderator:
Could you tell us why you went with the name Quidd?
Michael Bramlage:
First, we thought it sounded nice. Second, “quid” is short for the Latin word “aliquid,” which loosely means “something.” We liked the idea that the items in our marketplace are digital “things” floating around forever on the internet.
• • •
Quidd’s Mission Statement
BTSE Moderator:
What is the mission statement of Quidd?
Michael Bramlage:
The mission of the token is to “enable 100 years of Quidd.”
We need to remember that collectibles are a game played out over decades. For us, “longevity and steady growth” are far more interesting than being “this weekend’s hot NFT project” that shoots up the market cap, establishes high floor prices, but then stays locked with very low liquidity as NFT collectors ape into the next “hot NFT project.”
The mission of our marketplace, where collectors can buy, hold, and sell limited-edition digital collectibles for USD, is to introduce the mainstream to NFTs. And we plan to do this in a way that is very natural to real collectors.
For instance, trading cards, which are on fire right now, have a pattern: you buy a bunch of packs, some of them are valuable but many of them are not. Collectors want to authenticate, grade, insure, vault, and protect their valuable items. To us, that’s the role of blockchain and NFTs in our marketplace. Essentially, pull awesome digital collectibles, mint them, and own them forever on-chain!
• • •
Quidd’s Major Milestones and Future Plans
BTSE Moderator:
What are the major milestones that Quidd has achieved, and what are your plans for 2021 and beyond?
Michael Bramlage:
We’ve built a world-class digital collectibles marketplace available to download now on iOS and Android. I’m biased, but we have the best — and in some cases only — digital collectibles’ marketplace, and we’ve been operating for five years.
Today, our collectors can buy and sell for USD and cash out in a fully AML compliant manner. There are collectors, right now, earning real money that they can use to buy textbooks, pay for rent, or assist with down payments based on the way they collect on Quidd.
We’ve not only signed major licensors, like Disney and Marvel, but we did this years ago and turned this beloved IP into highly sought-after digital collectibles. There are vintage Spider-Man digital collectibles on Quidd that you can buy right now for cash that were first issued four years ago.
We currently have two concurrent roadmaps. First, the marketplace. We are inventing never-before-seen functionality that will dramatically boost liquidity; these are features that eBay, StockX, and other physical collectibles haven’t yet built and actually can’t be built.
Second, the token. We’re actively working to fuse our token through our ecosystem, ensuring utility within our marketplace on day one.
Collectors will be able to buy and sell digital collectibles and NFTs on Quidd using their $QUIDD. They will be able to earn more $QUIDD for positive contributions to the collector community. They will be able to stake $QUIDD in an innovative staking mechanism that unlocks “collector superpowers” in the form of premium services.
• • •
Quidd’s Investors and Partnerships
BTSE Moderator:
Do you mind sharing your investors/partners? Are there plans for other partnerships?
Michael Bramlage:
We are partners with and/or licensees, current and past, of the world’s best media and entertainment companies, including Disney, Warner Bros./HBO, Warner Bros/Cartoon Network, the NBA, the MLB, Funko, Hasbro, etc.
We were originally backed by Sequoia Capital. Now, we’re a wholly owned subsidiary of Animoca Brands, the blockchain gaming and NFT unicorn based in Hong Kong.
• • •
Quidd’s Blockchain Technology
BTSE Moderator:
On what blockchain is it built? What key pieces of technology should the community know about that sets you apart from the competition?
Michael Bramlage:
The digital collectibles in our marketplace that can be minted, on-chain, as NFTs, will be mintable to that collector’s chain of choice. Yes, the collector has the agency to say, “I want my collectible to go onto this chain, not that chain.” The chains we are most excited about are Ethereum, Solana, and Flow. Our first mint will be before the end of this year.
BTSE Moderator:
What makes you feel confident about the survival and sustainable success of your project in the near future?
Michael Bramlage:
We’ve been doing digital collectibles for five years.
Our partnerships are strong. The sheer volume and diversity of brands on Quidd that you can collect are staggering. The number will only grow.
Crypto, in general, is breaking out and having a moment, proving that it is an essential technology to enable new experiences and business models. Our users joined Quidd years ago because they loved Mickey Mouse or LeBron James and just wanted to collect them. We have the massive opportunity and privilege of introducing these collectors to NFTs and utility tokens. We already are and will continue to be the front door for regular people to get into crypto.
• • •
Quidd Token — $QUIDD
BTSE Moderator:
Tell us more about your token, $QUIDD. Can you explain its main utilities and use-cases?
Michael Bramlage:
This is the next generation of NFT marketplace tokens, with utility built-in from the bottom up. Some use cases include:
● Earning Proportional To Long-Term Value Creation: Quidd collectors can earn more $QUIDD by performing activities that create long-term value, as opposed to solely through weekly trading activity, which is known to have the adverse effect of creating wash trading.
● Staking For Collector Superpowers: Advanced collectors can stake their $QUIDD in return for exclusive access to professional-grade collector tools and services, including bidding on wholesale purchases, storefront analytics, and volume discounts on sales fees.
● Real Purchase Utility: Enabling millions of buyers and sellers around the world to price and settle transactions in $QUIDD instead of only fiat. Holders of $QUIDD may receive discounts on aftermarket sales fees as well as exclusive buying windows.
● Supply-Side Governance for Collectors: Token holders, proportional to their holdings, can provide advisory votes to determine how funds in Quidd’s content and licensing budgets are deployed. Token holders become active participants in current production decisions and can use votes to protect the value of their older collectibles by limiting future supply.
● Developer Ecosystem Benefits: Quidd is a platform ripe for third-party development. Quidd will deploy $QUIDD to motivate third-party software developers to build integrated apps, games, metaverses, and more.
• • •
Quidd as an Investment
BTSE Moderator:
Will $QUIDD be a good long-term investment?
Michael Bramlage:
It’s the combination of the macro trends, and our unique position and head start in the space.
Our head start is apparent since we have been in the digital collectibles business for so long already.
Now, as it relates to macro trends, it’s always best to invest in huge markets. The space is large and growing every day.
The Physical Collectibles Market Is Booming — The Global Sports Trading Card Market was valued at $13.83 Billion in 2019 and is projected to reach $98.75 billion by 2027.
More and More of This Market Is Shifting to Digital — NFT sales volume surged to $2.50 billion in the first half of 2021 as total crypto wallet holders grew to 75 Million by July 202.
Utility Tokens Are Essential Instruments To Nurture And Grow NFT Communities — DeFi tokens hit $84 billion in total locked value as of August 2021.
• • •
What Sets Quidd Apart
BTSE Moderator:
Quidd is the marketplace for buying and selling digital collectibles. Does the project have competitors, and, if so, why is Quidd better?
Michael Bramlage:
As far as we know, no one has invented the time machine, granting them the ability to go back in time and start issuing digital collectibles when we started. That is inimitable. It is just impossible to match a Game of Thrones digital trading first issued in 2017. This matters because collectibles like art, wine, cars, watches, and other scarce luxury goods, have an essential quirk — the older the thing, the more valuable it is. On behalf of our collectors, we simply hold a number of historical digital assets that cannot be replicated or matched by anyone else doing “new drops.”
BTSE Moderator:
Many people will want to know your project’s strengths, but I want to know the weaknesses and problems that your project faces? How do you plan to solve it?
Michael Bramlage:
We’re the oldest, original, and most authentic place to collect, buy, and sell digital collectibles. Look at CryptoPunks — it took four years for this NFT project to just absolutely explode. Why did this happen? The collectibles and art categories are interesting in that the older items get, the more valuable they get. We’re a lot like that. We’re sitting on over 80,000 unique #1 items, with a market cap of nearly $150 million. All these items — these hidden gems — are just waiting to be discovered and turned into NFTs.
As for weaknesses, there are few. We don’t engage in hype or FOMO. That’s not our thing. We’re not going to show up on the cover of TIME magazine. We show up every day and do what’s best for collectors, and will continue to do so for the next 100 years.
• • •
Community Questions
Iphone 13 (@iphone1324)
Currently, most investors only care about profits at the moment but ignore the long-term benefits. So, can you give them some reasons why they should buy and hold your token in the long term?
Michael Bramlage:
Our focus is very long-term. No dumpers here. See our whitepaper — significant lockup schedules for our team, investors, and partners.
• • •
Ly Tat Huan (@fackiRamtaz)
For project development, the top priority is to have sufficient funds. Is your team financially strong to be able to carry out this project? Do you have sufficient funds for its development? Can you tell us how your project is turning a profit?
Michael Bramlage:
We’ve been profitable this year and can be if we choose not to invest. The proceeds of our private sale give us a minimum of 3.5 years of runway.
• • •
Re Frain (@Bradley_Finney_1997)
Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Michael Bramlage:
Yes, there is a governance component to the token. In the future, supply decisions for new collectibles (which significantly affect the values of older collectibles) will be a matter up for a vote by token holders.
• • •
stokesinman (@stokesinman):
Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not, can you tell us what makes your project different from other projects?
Michael Bramlage:
Definitely not. We’ve been operating for five years. This is most definitely not a project with future promises only. Millions of people have collected with us over five years.
• • •
Minh Hoang Tai (@Avengelinea)
Do you have audit certificates, or are you working to audit your project to make it more secure and reliable?
Michael Bramlage:
Our smart contract has been fully audited by the same agency that has audited prior successful token projects from Animoca Brands. We feel very good about the contracts!
• • •
Twitter Questions
Q1 — @Hunsen8
Can any NFT be traded on Quidd or only authenticated digital collectibles from the world’s greatest brands?
Michael Bramlage:
Right now, our marketplace allows off-chain trading for USD. Soon, there will be off-chain to on-chain minting (convert it to NFTs!) as well as on-chain trading.
• • •
Q2 — @Lisa72184179
Currently, most investors only care about profits but ignore the long-term benefits. So, can you provide some reasons why they should buy and hold $QUIDD in the long term?
Michael Bramlage:
We are VERY long-term focused. Some evidence of this is our long lockup periods for our team, advisors, and investors.
• • •
Q3 — @hemeshcrypto
Can you list some features with which you are most confident about your platform? How can you advertise Quidd worldwide and make it popular?
Michael Bramlage:
- Solid native mobile apps on iOS and Android that out of the box integrated with a billion credit cards on file
- Great liquidity features like Wishlist and (soon) auctions
- Ranks and leaderboards that family our collecting experience and provide utility to items
- Relationships with metaverse players like Sandbox for even more post-mint utility
- Localizations into new languages coming in 2022
• • •
Q4 — @JaysonHinrichs1
Where do we expect to see $QUIDD in the short-term (at some point in 2021) and 2022 and beyond (long-term goals)? In the next 6–12 months, what features will you be launching that will make you stand out from the rest?
Michael Bramlage:
● Upcoming features include:
● Wishlists
● Message Center
● Auctions
• • •
Q5 — @zotov_mitya
Investors seek more attention towards projects when the token has more utility, So what makes users hold tokens for their benefit; is there a loyalty program for holders?
Michael Bramlage:
There are “Collect-To-Earn” mechanisms, so positive contributions unlock more tokens. Tokens can be staked to unlock “collector super-powers” akin to gaining exclusive to subscribers. Tokens can be used for peer-to-peer transactions and as the most efficient minting currency if the destination chain incurs gas fees.
• • •
Upcoming Plans
BTSE Moderator:
What should the community anticipate in the near future?
Michael Bramlage:
Tune in for our NFT vouchers sale, where you can buy NFTs redeemable for future $QUIDD!
• • •
Quidd’s Social Media
Quidd Token
Medium: https://quiddtoken.medium.com/
Twitter: https://twitter.com/QUIDDToken
Quidd Platform
Twitter: https://twitter.com/quidd
Discord: discord.gg/xZQx8EKy8R
