Crypto-based lifestyle app Togethër Calls for Investors
Fireworks Digital recently held an intimate presentation for potential angels and partners for their upcoming lifestyle crypto-based app, Togethër. Held at Commonground Bangsar South, it was attended by 30 people with a further 25 online.
The purpose of the presentation was to give a thorough presentation of the lifestyle changing Togethër app and explanation of how it will work. There was also an explanation of how cryptocurrency works as well as how the Decentralized Autonomous Organization (DAO) works to ensure everyone benefits from the app.
Chief Executive Officer and Founder of Fireworks Digital, Yanzer Lee, was the lead in the presentation. He was joined by Kayel Lee, Director of Business Development and Partner at Fireworks Digital, Dilip Kumar & Zhen Yu Ng, Solution Architect and Partner, as well as Ellery Wee, Advisor at Fireworks Blockchain Initiative.
The Togethër app is built on a product that Fireworks Digital has built and used by some of the biggest Malaysian brands for over 10 years.This product is called New Retail Solutions and has been used by SOGO, Publika, Poh Kong, Atria and many more. It is essentially a membership engagement product to increase sales, for the brands to engage with members and to increase connectivity. Now, it will be brought to the public as a lifestyle-concept crypto coin.
“(I) want t-coin to be the bridge between the crypto world and real world and make it mainstream, making it a lifestyle coin”, says Yanzer Lee. He added further that the t-coin is targeted to Generations Y, Z and Alpha as these are the people that will appreciate the lifestyle the t-coin will provide.
However, the t-coin within the Togethër app is beyond a coin or crypto business. It is a community communication app where it will be able to drive business for participating merchants. It will also act as a bridge where one is able to convert their crypto coin, be it bitcoin, doge or even the t-coin, to cash and use it to purchase anything in the real world.
The Fireworks Digital team also talked about the value of investing with Togethër. CEO Yanzer Lee says, “When you go to a Togethër merchant or partner and pay using t-coin you will be rewarded with tokens that can be used as an asset.” These tokens are investment tokens that will appreciate in value the longer a member holds them, just as how bitcoin rises in value.
The t-tokens are and can be automatically converted from t-coins. Those with the Togethër app are able to set the amount or percentage of coins or rewards they have accumulated to be exchanged to t-tokens automatically.
Kayel Lee, Director of Business Development and Partner at Fireworks Digital explained the concept of Decentralized Autonomous Organization, or DAO, where anyone can become part of the Togethër operation due to Smart Contract.
“Because Togethër can be globalized instantly using Smart Contract, anyone can purchase anything instantly without the need of a currency converter. The app can offer a global and lower transaction fee in comparison to others that charge up to 30%,” he explained.
“In fact, the DAO allows anyone who wants to be part of the Togethër DAO to instantly join in whether they want to be a merchant, membership recruiter, marketing and more,” he further added.
Although not yet launched, Togethër already has four partners in place. These are GenYouth, a platform that provides support to the youth on entrepreneurial development, 21Hi Media Entertainment, a social life centric media and entertainment management agency, Conceptual Worldwide, the founder of the Zodiac Festive Rooftop Party in Thailand and Newmedia X, a Thailand-based startup tech firm for consulting and business solution development.
To reassure potential investors about the volatility of cryptocurrency, Ellery Wee says “In the world of cryptocurrency, security is very paramount. You need to choose a blockchain with a very high level of security.”
Fireworks Digital won the Swiss-based NEAR Foundation Grant for Togethër and the project will be funded by NEAR. Togethër will be riding on the NEAR wallet for the t-tokens and will appear on the NEARPad, a crowdfunding platform where Togethër can showcase their story.
However, Togethër still needs funding on top of the NEAR Foundation Grant. They are looking at USD250,000 for the first round funding and interested investors are able to invest a minimum of USD2,500. Yanzer Lee explained that the low investment is to attract as many investors as possible towards Togethër for the initial round. The funding amount will be raised in subsequent rounds.