What Is PREMA(PRMX)?
The PREMA platform is centered on PREMA X, an NFT marketplace, and uses the PREMA Wallet and traceability system to connect NFTs with the places where they are used, such as URLs (UnReal Life, the unreal world) such as metaverse blockchain games and IRLs (In Real Life, the real world) such as physical products and spaces.
NFTs, which are difficult to counterfeit or duplicate and have the ability to prove the fact of ownership, were approved by EIP721 in 2018, and games such as Crypto Kitties and My Crypto Heroes, which utilize them, became a hot topic among crypto asset users.
The birth of NFTs marked a historical turning point in the content business, as digital data that had been copiable was now traded for its individuality and value that could be preserved and transferred.
Since then, the existence and value of NFT has become generally recognized, triggered by the NBA Top Shot and other NFT trends that bring unprecedented experiences. According to CoinGecko’s “Yearly Report 2021,” the total trading volume of the top 10 NFT marketplaces in 2021 has grown to $23.9B.
Entering 2022, the rise of Azuki and other animated generative art collection NFTs, coupled with Twitter’s expansion of the ability to set NFTs as profile images, is showing a growing need for NFTs as PFPs. In addition, with the approval of EIP-4907, it is expected that the use of NFTs will expand beyond existing usage methods, such as the expansion of scholarship use.
Usability Issues
There are still many obstacles in terms of UX for users to take advantage of blockchain technology. Browser wallets such as Metamask allow users to access and make payments on various blockchains, but with the exception of a few highly literate users, they are unable to use the services as intended or risk losing all their money due to mishandling. However, with the exception of some highly literate users, they are unable to use the service as intended or are exposed to the risk of losing all funds due to mishandling.
To address this issue, the PREMA Wallet employs AQR (Anything Quick Response) and NFC (Near Field Communication), as described below, to enable NFT transactions without the need for complex operations.
In addition, PREMA Wallet and PREMA X can be developed and offered at the same time to achieve a superior UX that is interoperable.
Furthermore, to optimize the ecosystem and usage environment of the PREMA platform, we are developing our own blockchain, the PREMA Chain.
The Problem of a Closed Economy
Until now, the only options for profits earned by investors through tokens in Web3 were to reinvest in tokens or convert them to legal tender. Our platform combines Web3 with existing industries to create a system that can be converted and used not only in URLs but also in utilities in IRL. For example, we can easily redeem (redeem) acquired NFTs into the real world. In Japan, we have the infrastructure to provide high-quality products and unique cultural experience value, and we will create a new economic zone by responding to domestic, inbound, and overseas demand.
Goal
The ultimate goal of the PREMA platform is to build on our technology to link tangible objects and digital content from around the world through the medium of NFT, to provide a marketplace for their trade, and to guide users to various services so that everyone can access the utilities they need at any time. The goal is to create an environment in which everyone can access the utilities they need at any time.
Each component of our platform is organically linked to form an ecosystem that realizes this goal.
NFTs obtained through IRL via AQR or NFC using the PREMA Wallet, or through Web3 such as PREMA X, can be used interactively and compositely in metaverse, blockchain games, and IRL.
Through the ecosystem of the PREMA platform, we will accelerate the NFT business in Japan and around the world.
Achievements to Date
They started the NFT business in 2017 after a series of research, development and demonstration of blockchain technology with partners in Australia and Singapore. The main products are Japanese entertainment-themed digital assets such as “JO1 Digital Message Trading Cards” and “Yoshimoto Digital Koreka”. JO1 Digital Message Trading Cards” are NFT digital trading cards featuring JO1, a Japanese global male idol group. There are two ways to obtain NFTs: by accessing the JO1 Digital Message Trading Card Store via browser or application (iOS/Android), or by scanning the QR code enclosed in the music CD with the dedicated application.
Current Initiatives
With the launch of the PREMA platform coming up in Q3 2022, we are currently focusing on the development of core technologies (NFC and AQR), traceability system development, PREMA chain development, NFT product development, Metaverse blockchain game development, and guild formation. Please see the Roadmap section for additional initiatives and specific timelines.
Development of Core Technology
PREMA Wallet has already implemented NFC functionality. It is currently undergoing a demonstration test for AQR implementation and will be ready by Q4 2022. For more information on the specifics of the technology and how it will be used, please refer to the section on the technology that the PREMA platform will employ.
Development of traceability systems
By utilizing AQR, NFC, and blockchain to relate the NFT to the real world, it is possible to bring an interactive relationship between the physical product/space and the Web3. In addition to being able to manage logistics, adding data to NFT transactions can create new communication opportunities, such as airdrops directly from the producer side to the end purchaser.
PREMA Token
PREMA Token (PREMA) is a digital asset that supports the ecosystem of the PREMA platform and is compliant with the ERC-20 token standard for the Ethereum blockchain with mature security performance, processing power, and various durability features.
Ecosystem
They have designed a highly sustainable token ecosystem to enable the PREMA platform. PREMA tokens will be the value foundation supporting the PREMA platform, where anyone can access the necessary utilities of URLs and IRLs at any time. It will also function as the native token of the said blockchain as soon as the development of the PREMA chain is completed in the future
Deflation Mechanism
With the total amount of PREMA tokens issued limited to 100 billion, the circulating supply of PREMA tokens will be reduced as more users lock to enjoy the above utilities. The services available on our platform will expand in the future, and the utility of PREMA tokens will expand accordingly.
In addition, they plan to attract a number of company-operated projects to the PREMA platform, and we expect to use our capital strength to lock in large amounts for large-scale marketing activities. As a result, $PRMX will be bought from the market, a mechanism that will maintain and improve prices.
Token Distribution
1. Accelerators: 15%. Allocation to accelerators such as sponsors in the early stages of the project, to be allocated according to their contribution to the early realization of the roadmap.
2. Marketing: 30%. Allocation for community building, airdrops for user contributions to the platform, etc.
3. Ecosystem: 45%. This allocation is mainly reserved for the platform’s service providers, including companies. It also includes allocations for contributors to the development, maintenance, and management of the platform, such as the development of traceability systems, migration to proprietary blockchains, and legal and tax experts, as well as grants for developers who contribute to the development of the platform in the early project phases.
4. Team: 10%. This is an allocation as an incentive, a success fee, for team members who contribute to the development of the project, including listing on the Exchange, platform and application development, and financial activities. All such allocations will be locked up for two years from the first listing on the Exchange.
