 So I'm basically keeping my chat closed until the end of the presentation Yes That's what I did. It makes it easier, you know, so you're not distracted by moving text. Exactly I'm awesome. Okay. Okay. Great I'm good. Hello everybody. Welcome to this afternoon Okay. All right. Um, hello everybody. Welcome to this afternoon. Oh Okay, I'm hearing myself talk Okay Okay, I'm also hearing it from the website too. Shoot. Okay Uh, welcome Welcome again, um to this afternoon session, uh Breaknote breakout Pat, uh Breakout presentation about the kitely market Here we have today Elon touchner the founder and CEO of kitely It is the largest commercial grid in the open sim platform with over 4400 regions It is different from other grids in that it offers on-demand cloud-based hosting and a range of Very unique pricing plans Uh, Elon's previous startup ID choice focused on detecting and preventing identity theft And he brings that expertise uh with him to his current project Before that he was a director of infrastructure development at omni sky has an MBA from televive university And a bachelor of science and computer science from the Hebrew University of Jerusalem He'll be talking to us today about the recent launch of the kitely market A marketplace that allows merchants to sell goods to users in kitely And soon to users on other grids as well With full control about whether the goods could leave the kitely grid or not Elon, thank you very much for joining us here today Thank you maria. Um Oh, so let us begin I'm trying to talk to you today about the metaverse mark marketplace in the kitely market now First a few words about what it is or why we want it and how exactly it is going to help us all So our goal when we created um the kitely market was to create a Virtual goods marketplace that will create a unified market out of all the separate grids That they practically hide for good metaverse This will enable content creators to make serious money while setting up only a single web based store Now it's an ambitious project and I've been working on it since the beginning of the year And there's still a lot more to be done before we complete all our our goals but Kitely market is successful Will help finally create the critical mass of content merchants and buyers To help the metaverse of roles from this collection of stand-alones and small grids to a new unified market Is that can attract both serious investments? therefore bringing in serious VC money to actually help us grow and get additional Development into the metaverse and helping all the people that are currently Looking at the metaverse and saying that well, you know, all of that. I just kind of get it in second life I don't see the point helps them See that the open sim hat can offer a better alternative and just staying inside of second life now So That's the what and the why and then the question is the how Okay, how are we going to achieve these goals? Now when we design Kitely market, we had several examples in mind We we know that most users of virtual world are familiar with second life marketplace Since it's the largest and most successful market for virtual goods Therefore we started by making sure that Kitely market will look familiar to people coming from second life For example, we write a product in categories three and That has a lot in common with second life However, that wasn't our our goal wasn't to stop there our goal was to just copy second life marketplace It was to create something better So we continued by adopting some good ideas from popular e-commerce sites such as amazon For example, we added attributes zeroes are all things i'm going to discuss in a few more slides Uh that make it easier for you to find what you want And therefore to give you an experience where you can actually when you're using the site and say well This is better than second life marketplace As a user and as a merchant and then you say okay If open sim has this better alternative Then maybe open sim is a serious place that we all want to start using because it isn't this You know a collection of things that look like it came from 2006 and seven seven Which is uh one of the things that people say from second life users say about uh second open sim We wanted to look like it's better And one of the places that has the most attracts the most um Basically eyeballed money involvement In second life is a second life marketplace So in order to get that into open sim we had to create something which was better than what second life has Okay, so uh, we did all that and we actually added a few more of our original ideas and you can see that Discussed later Okay, so let's Look at that. Let's begin Okay, this is how the basic Uh screen the first thing you might see when you log into uh, it's kiting market um Cut the market as I said half for his advanced search capabilities Now these are a lot of things you expect when you see you coming from second life marketplace or you came from amazon They're the features you would be familiar with there are categories or um There's a text search there are stores Um, there's something additional here that I want to discuss and and let me just tell you a short story I I had an idea. I was let's say I woke up and I remembered there was such a store And I couldn't remember the exact name Um, but here I called it was court Carolina So Carolina, so I searched that and then I you know, I got options and I opened the store page that up to now That's pretty much second life marketplace Now I had a category three and I There are all kinds of things in the category three if you look at second life Category three you can find for example rings in four different places. You can find them Under valentine's and you can find them under wedding and you can find any women's and there's multiple places where you can find Content in second life, which makes it really hard finding what the exact thing you're looking for So instead of copying the second life, uh marketplace Categories three we said, okay Let's change it to what things are and their attributes. So we're something in the for example clothing Or clothing bundles or avatar accessories and so forth those are categories, but things such as the color of the of the item or The clothing style the department or the occasion For example, it's a wedding or valentine's or halloween and many other things are actually attributes and once you start Separating categories from attributes it gives you a lot of power to do things such as you see here The filters area You see the filters Bar which is when when I choose a category You can see the current clothing categories selected. I can start choosing filters For example, I chose woman and you see this appear on this filter bar And I chose gray and it scrolled down so you can't see it But I chose to see things that also allow me to copy and that are general or moderate rating And so here I did all these filters and these are the three results. I was left with and of course you have the sorting which has all the You know all the expected um sort orders You also have a rating system, which is advanced. You don't see it here But there's multiple ways to rate and reviews and um and basically get an experience which is Allows you to dig down and find content in a way that is much better than second life marketplace There are a few things that we we just launched this over a few things We still want to fix to improve the experience to make it even better But you can already once you play with it see how Reacts and allows you to find what you're looking for much much faster Okay Now when you open a product in second life You you're used to when you open a product and you see Let's say the same chairs you can see multiple products for them And so you'll see the different Multiple items for all the colors and you'll see multiple items for the demos And it's a big mess getting from one to another or seen all of them at once Well in in kithy market All the products and variations and the demos are located in the same listing So for example here you see this collection of chairs And if you see this is currently the selected Here this is the selected chair But I hovered my mouse over here on the red chairs as and as I hover over the pictures Pictures quickly change so I could quickly browse without having to actually Click and change this other product and when I clicked the other product Let's say I clicked on the un Unwhite I was unlit on black or red. It would actually change Selected so I could actually add it to my part But when I move my mouse over between the different items All the information the description The x the permissions the items that are included all of this would change As you as you quickly move now This is something which is seems like it's a small feature But it actually makes it much easier to find what you're looking for and for merchants to attract customers with additional Selling options. So for example these my reactions. They don't have to be separate products It could be bundles. They could be okay by all my chairs For a certain price But or you can get them in separate colors for different prices for reduced prices Now you can have certain things that you buy for pipe to credits and certain things you can only buy for I mean you can buy for dollars, for example, or you just have some different permissions and All these different teachers made it very easy to use a marketplace And of course you have things that are linked and you can create I click on a username to get to restore and so forth, but all of these things that are Intuitive that thing is and why can't I do that such and such? Well, in kindly market you usually can and if you can't it's just because we haven't implemented it yet Um, okay, so you can also see you can easily share the content you you You're looking at with your social networks And that again is a feature that you already expect now There's something interesting as there's a lot of as you can see there's a lot of Pictures here each variation is just growing a single image right now But there are more images at the merchant added and when you click that You can actually see here. This is how it looks the thing would get grayed out and you'd see a bigger image Just didn't have a place to present it here. See a bigger image where you could actually Quickly and these images scroll by when you click these buttons You quickly navigate between the various Images and I've seen products with more than 60 images and quickly scroll between them And if you like something that you see which is which may be from a different variation You can click here on the variation name and it couldn't change the product underneath the this The viewer so you can go and look at that Go and look at that It's that product Now this all of this is intended to create a much more Intuitive and fun browsing experiences you go to score and you quickly flip food items Basically, it's kind of like what you would do with Pinterest Where you see a lot of pictures and then you can dig down into the pictures So you don't have to discover content just through the The listing where it has additional content or things might not be related to one another You can all you can do that here In the image viewer now, there is a lot of information that actually adds automatics automatic in depth information for example, the permissions are automatically calculated when the merchant adds The content into quietly into quietly market You don't have to trust that they're listing the correct thing that the system calculates that in the background here You can see if you if had I scrolled down this window Which I did here when the when the thing is grayed out when I selected the image viewer You can see that you can actually see all the items that are constrained and the items that contain and you can see their permissions on the system so All of these things allow you to uh to quickly understand what it is You're you're looking for and what it is that you you're going to buy And since information is automatically added it's much it's much. Well, it's going to be there unlike in second life marketplace where People as a merchant might add this information or it might not it's very time consuming to add a lot of metadata Okay So I talked about a bit about The features but the important part when we created carting market wasn't just to to create something that Destination and then I got what I wanted to buy but we also made shopping enjoyable that it is in real life So in order to do that we've made Uh Martin provide the same type of user experience that you usually get only mobile apps as in things slide rotate fade in and out grow and shrink And provide all other sorts of engaging feedback Uh, so just playing with the marketplace. It's fun. And this is all done in html 5 And it works on always some minutes Uh, I always take some minutes and android and ios and windows, of course and then various browsers others and ie Well below ie 9 we don't really support it 9 and 10 we actually fall back to not showing as many animations But the goal here is basically to allow you to find things easily enjoy the process and therefore Um, be a lot more attracted likely to buy in this marketplace Then you are actually even going to find the same things if you can in second life marketplace Okay, so, um, I discussed a bit a little thing about the features that are available For the Buyer but there are also a lot of things available for seller for example when you buy something and when you set up a new Item you don't have to upload it via your inventory in world This actually this widget opens and you can add create a product from the website entirely So you don't have to go in world to upload items you Can select multiple items here and they're automatically uploaded They're uploaded in a way by the way that is you can actually include folders So you don't have to pack things in in packing and boxes You can actually pack them in folders because highly market automatically auto delivers Sorry direct delivers into people's inventories um, so, um So it's very the the buyer once it gets it doesn't have to take an additional step into open before opening those those delivered but items now um You obviously have a lot of information and this is just snippets from various screens that the merchant has access to you have to purchase for uh the ship um The uh, you have this shopping cart where you can see easily, you know add additional things You can see easily buy via PayPal Um and get that information for them. You have the Sales information you have various email notifications with pretty tables that provide you a lot of detailed Information compare that to what you get the second life marketplace You'll see that the emails are much more friendly and informative You have of course a sales history where you can Redeliver items you can redeliver a newer version of the items automatically To the users you can refund refunds only works in credit credits. I'll explain the monetary system the Building system in a few slides But you can refund payments for 40 days um, and uh, you can see that the item was refunded you can click I can include a picture here But if you click for a product you see additional information about the product and the purchase and products actually have versions You don't see it in the interface that can have to like if you send multiple versions of the item over time that the links in the in the in your um Sales history will throw you to the real uh to the version of what was bought at the time So if the price change or uh the items change and so forth, you'll be able to see this in your sales history And the purchase history that the user of the buyer has as well So there's uh, everyone has this access to the state and an additional a lot of other additional features Um that you do need to play with the product to understand. I don't want to spend too much time talking about some One of the important features that we just added uh on friday Um choose a marketplace with a powerful content analyzer. We found that we certain Sometimes you have the content delivery problems a lot of the times It's because there's something wrong with the product um When you when you love the stream you saw that we have a deliver product and deliver a test delivery link and so forth in the In the marketplace and actually when you do test delivery our system automatically changes it to the kindly market avatar That delivers it to you. So if you're the owner and testing deliver, you will see uh the permissions as your buyer would see them um now The one of the things that we started to a lot of various problems Existing in content. So there's a missing assets because people forgot to change your IDs and scripts and then upload things And there are invisible things that the people have forgot to to delete and so forth. Um, and so Here you see on this screen If if you scroll down in the product listing it's the the edit mode of product listing of which the merchant has access to You can see that we actually give notes We can act we actually give notes Here uh when there are problems these are just found to um warnings in this case And we allow you to deliver a debug version of the content to your inventory Now you can then res go in world and res the the items that you want with the debug item next to it And uh, which is the highlight the things that are have problems would be highlighted in red So you can find which items are referenced these uh exclamation marks here Basically uh note um Means that there are problems with your product and there's actually they're quite detailed They tell you and the the path to get to the product and then what the problem is But it's hard from the note from that path to find the product In world so we created this delivery debug version which highlights The content so you can easily find what we're talking about for example this prim Is an invisible prim so you can't see it here in this actual product But uh once you see that it's invisible, you know that where you capture it and you can delete and you can Set in this case, it was missing the texture that you can actually delete it now. Um the This feature uh prevents we have warnings and and errors and if there's an error in product, it will actually uh, Not allow you to activate the product when you do a list when you change a product you have you can um You have a live version of the product and you can edit the version and have that edited for a long time And and things that are to save until you activate the product and then it replaces the previous uh Previous version that was active on the marketplace So, uh this feature The content analyzer allows you to track and make sure that the content you're going to offer Inside of typing into other places will not be broken This reduces the amount of support that you're going to have to provide your your your buyers And which will make everyone happy People who buy content get content that works and isn't broken and people such kind of have to do a lot less support Okay So now getting to the bit to the money Uh, there's flexible sales options. You can sell for kitey credits, which are non convertible currency They're not they're you you can't allow you can't convert them into Uh, real money. You can't trade them for real money. This is not going to change Uh, they're a play money. You can use them for um In the world inside of kitey and in a kitey market in certain places that the merchants Um Decided that the which is to accept kitey credits a merchant doesn't have to accept kitey credit. You can say I only want to accept real dollars um and uh They can be used to pay kitey for the actual, um offers are actual, um Um They can be used inside to pay kitey for its own services. However, uh, the merchant obviously people want to earn real money For the content to buy so the merchant can just list things for us dollars instead of relying on any virtual currency dollars or or Some uh small open sim uh currency or a third party currency just all using dollars because that That anyone can buy that there's no liquidity problem. You don't have to trust kitey to exist tomorrow And then basically you you get money without having to convert in the way um, and So the merchant can select what currency he wishes to accept He wishes to price things for kitey credits He wishes to price them in us dollars or he can price them in us dollars and allow people to find kitey credits as well if they happen And whatever the user pays the buyer pays that's the currency we're going to give you the merchant Now you can a merchant to select to create contents that can remain only inside of kitey using uh an export feature Export uh flag actually export tracking system that we created. It's different from the export System that currently being pushed by abby nations. It's not your side. It's it's controlled completely inside the kitey market Every item that you buy inside of kitey from the kitey market is tracked from that point on until it leaves the kitey grid So even if it's res copied renamed move to other people's inventory so forth We know which transaction it came from there's a problem with the transaction We can first off what we already do is there's a problem with the transaction We stop it from being uh exportable at that moment even if it is uh allowed to be exportable um And eventually we'll implement that it will actually take back items So if you if there's a problem if you didn't pay the merchant or as a merchant We funded the money for you because you asked them to the item is going to disappear from any place It has not happened to so it won't uh search the merchant doesn't get money. You don't get to keep the item um now uh One of the things that is this entire marketplace is bid to support isn't the growth of the entire metaverse So a feature that's really coming soon. This is still not implemented is that things that merchants are Set to allow export will be deliverable via a hyper grid delivery mechanism uh to any hyper grid enable um Grids that allows our just doesn't go out and just block us So if you don't block us, we'll we'll we'll you can your users will be able to to get to buy content from kiting market And you have it delivered uh to them inside your grid and they don't have to uh Go in world in kiting to get that they don't have to be kiting users um Well, you have to have a kiting user to check to check out just the payment information But you don't have to ever go inside in world inside kiting um the Basically It's it becomes like amazon They deliver if you are if you want to get our content from us all you have to do is not block us If you have a close good and all you have to do is create an exception for the kiting market the deliver mechanism If you do that we can deliver to your grid Okay Moving on Okay, so this is a difficult question of why a new marketplace uh currently we're in a state where People don't use open sim because they can't find content and merchants don't want to use sell to open sim because there's no one to sell to They say, you know, they're hardly hard. It's not it's not worth the trouble. There will be copy buttons There are a lot of things. It's not worth the risk. I just won't go there and there is this great circle That's very hard to break Unless you create a unified market, uh, which can attract both merchant buyers and money and activity and interest to everyone so once you create this sort of hub for economic activity, then The buyers know where to go to get content merchants know where to go to sell content And then you create this cycle that attracts more and more merchants and more and more buyers And we have already seen this with highly out in less than a week out We're already seen growth in a number of transactions and the number of merchants are starting to create listings Okay, so the goal here is to help open sim grow in order for any open sim company to succeed We need the entire ecosystem to grow even the biggest open sim base grid is is Hardly investable from a VC point of view And if we want to create get real money here to really move things forward to get a good, uh, Improvement browsers to get things running on tablets and mobile devices to get integration with Oculus Rift to get all the nice things we all want to get we need to create Momentum and in order to create momentum We need to get money into the system and then you get money by creating unifying everyone around A market it's not a marketplace. It's a market because the merchants are not the market play They want to earn money. They get it wherever they can if it's it's convenient Buyers don't have to be in fact they use They go to whatever grid they want. They want to go shopping and basically get the content They want delivered to whatever grid and they're on and then they use that but in order to for any Traction to be created. We have to create something which is has a miss a critical mess And that simply didn't exist until now and we hope that the kitey market will help that evolve Okay, so during this past week, there have been a lot of questions and Objections and the and the blogosphere about kitey market So hopefully you get this reference what this relates to But now I'm going to talk about some of those objections and what our answers are to them Then I'm going to do a quick What's ahead slide and then I'm going to take question Okay, so how I learned to stop wearing and love kitey market So this is the first objection people have people will steal my content. Well, uh, the general The general narrative going on in second life is that people are already stealing your content over in sin This is not that you don't have to have kitey market for that They take it they rip it off from second life and it's uploaded into open sim and then it's it's there So if you're successful people are using it, but you're just not getting paid for it so, um We looked at uh, if you look at what the music industry did and remember lapstar and then it's extremely easy to get the legal copied Songs online, uh, but itunes sells you a song for 99 cents um Showed that if you create a good enough marketplace Uh, it will enable you to get money from people who can easily steal your content in other places So the goal is to to make it such that people say well, I could maybe find a copy about it, uh content but then First maybe the legal issues and then it's might get hassle and I might might want to be involved with these kind of people And all of this is going to be time consumers. I might have a well-go to kitey market and buy it. It's convenient. It's simple And since it's uh, it's it's affordable. Um, I'll be done It's out of actually deliver to my to whatever grid I'm on everyone's happy and the merchants suddenly got a sale from someone who would otherwise Just either stolen their content with a lot of hassle or just have bought someone else's content So it's a it's a sale that either exists for the merchant or doesn't exist Making it available and a marketplace can actually deliver to open some users in a convenient way for both the open some user and the merchant Enables the sale to exist Okay, um Well, then the next question is well, I already sell in the second life marketplace that people can move my content to open sim Uh, so, uh, why should I use kitey market? well, uh It comes to convenience as delivering to an open sim base grid automatic It is you have to copy it and then upload it and hopefully it works Okay, and you have to sometimes you have to contact the merchant and just time consuming And this whole thing and instead of pressing you're finding pressing a button and having it delivered you're now spending luckily tens of minutes I mean, so we had some people who want to buy who bought Content that they want to get into kitey take days until the entire cycle was complete so it requires time and it requires uh, and it's inconvenient and so it You basically if you're only saying well, I'm done. I already have a present in second life marketplace then our client is uh If you don't if you want to make the sale make it easier to get your content legally than to steal it Um, and even if this person won't steal it I'll just get buy someone else's content that is available in the convenient place So you're losing sales Maybe not to everyone that some people are willing to go through this process But uh now that type of market exists and once we start delivering to to other grids as well Is the it's going to be am I going to spend a lot of time and effort to buy from your second life marketplace Store or am I just going to go to kitey market and and buy something I can get in minutes or in seconds once I press a button Um, and so you're just make it easier to get your content legally than steal it Okay, then then then the objection of well copy brothers will sell my items in kitey market Uh, that well one of the things about kitey and if you remember and this provides information that you mentioned before Is that since kitey doesn't have a convertible, uh, virtual currency only has real money The only place you can sell in kitey real money is the kitey market Then the in order to sell something un kitey Un kitey market you have to sell it in the marketplace where it's visible Basically to anyone so if you just since there are a lot less items showing because we group items together It's very simple for well-known uh content creators to just sort by newest and find And see if their items are added or just get called like they do now in second life marketplace where people say well You know this this so and so and started the selling rip offs here if there were content and they take it down Uh, the same people are going to point you out that someone ripped you out in the second life marketplace will do so in and in kitey market But in kitey markets, they'll have to browse for a lot less items because we group things together and kitey market also has The way the payouts work is that we have a 45 day payout delay That serves two purposes First it gets us past the paypal dispute window Paypal has a 45 to date dispute window on money paid through paypal So after that point, we can transfer you money and if there's a charge report or something We don't claw back the money from you. We already got money. We'll take it out out of future earnings from your marketplace So you don't have to deal with charge backs. You don't have to deal with paypal We hold the money until we we feel it's safe. We get to put a 45 day payout delay and then on the weekly schedule, whatever money was collected Basically 45 days from prior to that will be delivered to you Um, and since this 45 day delay also offers another advantage It makes it very hard for someone to profit from selling in kitey markets without getting caught because the 45 days If they should be selling something for them, which is probably if they get any significant amount of money Someone's going to see it And then if it's they tell us about it in the 45 days since the first Purchase was made then we won't transfer money to that copy butter And we can actually transfer the money to the actual person who's in whose country that belongs to So, uh, it's Basically, if you're a copywriter trying to sell through kitey market You have much better happen. You'll get much more money out of second life in the world And all kind of places which are hard to attack until you know You sell for a few days and you disapprove of money which I try to lend them dollars into us dollars or If you're trying to do selling second life marketplace It will be harder to find you there people it will might eventually find you But uh, they won't have this 45 day delay for getting money out Okay, so the next thing Well merchants won't do this is something with hearing from other grid owners. And this is uh, There are various questions of the sort. Well, we'll start with sorts of merchants won't get land on my grid Well, marketplaces work, uh, because both buyers and sellers want to So if it's from a copy market, uh, they exist They're going to exist because they're a good idea because both sides that want to transact want this Technology the service to exist And most major grids are already embracing marketplaces either develop themselves or allowing a third party to provide those services for them Yes, the second life in world's islandos is they don't have marketplaces and they all still have people renting land from them um, and When one of the things kitey is going to actually do is that we're going to create a kitey market affiliate program So if someone buys one of your users buys from you And we deliver to that user You're going to get a revenue share from that transaction so, uh Unlike if they just go to the hyper grid get something from another grid and come back and you don't get anything from that And in which case they could be traveling to Other grids that have shopping districts that you could say we're hurting your Your land sale or you're renting Two merchants in your own grid Well, unlike that with kitey market if there's a transaction kitey market with one of you users you get a revenue share from that so, uh Even small grids you don't kind of can afford to have a marketplace or don't have a marketplace can profit from kitey market existing And this is actually when we did the maps this will probably be more profitable for some of the Grids I've actually mentioned here running your own marketplace as you have to deal with with uh all kind of cases of people trying to rip you up or leave you holding the bag while the Uh to use stolen credit cards or other things You have their operation costs and so forth The our revenue share would probably make it more profitable for even grids that currently have a marketplace to just Point the users to kitey market. They'll certainly earn more and have a lot less setting for Okay, so the next slide well all my users will move to kitey and few people have to buy kitey credits They might as well stay in kitey. Well, uh Merced words you want to earn real money and not kitey credits and uh, even items listed for kitey credits Uh can be about directly using us dollars We just have add an item to your shopping cart that turns like in second-like marketplace that turns The the amount of kitey credits you need and to basically you buy the amount of credits you need for that transaction so, uh There's we really you don't have to get type of credit. You can go into kitey And build inside a free free access sandbox. There's no time limit to those There's if those become crowded. We'll just open more of them free access that for merchants and Basically build there. Um, and you don't have to spend kitey credits You basically the only cost you have is uh, we have a small Listing fee of 100 kitey credits at about 33 cents when you create the new product um And you can just change it as many times as you want and when you add a new product variation We take 25 kitey credits, which is like eight cents So this is extremely small fees and the goal of those Listing fees by the way is to limit the amount of spammy low Low level of low quality content from entering the market We want just to be a place where merchants can sell because they're linked with a lot of spam and buyers can find what they want One because there isn't a lot of spam. So by adding this small fee even if though it's it's pretty uh insignificant if you do the cost of how many products you have how much it cost to list you see that even if you have a Lot of items this is not going to cost a lot But this adds a barrier to to spamming the goal is to keep this a better experience at second life marketplace Okay, so next almost The best Well, uh, kitey's high can be a delivery system and you're able to merchants to sell to any grids that want your content If you do what if you want highly to Give you content to be able to if you want this content to exist on the grid just don't block Kitey's hyper grid delivery mechanism You'll have the same content that anyone else can get that the merchants want to sell And merchants want to sell to as many people as possible. So once they get used to the system, they're likely to make more things exportable Okay, well, uh all my users will move to kitey because no expert may account if only works in kitey Well, uh, we can't force anyone to sell to to other grids But we will be making a change that merchants will be able to allow No expert content to be used in other secure grids. So as well if you're running a closed grid And you want you have merchants that want to sell To that into your grid and you want them to be able to do that And they want to be able to continue selling to you and they want to use the kitey market And you want to get that revenue share because in world currency exchange rates are probably lower than what you're Going to get from kitey market So you're you're you just be contact me directly and we'll talk and see once We announce the details of this program Then you'll be able to connect and no export items will be deliverable if the merchant says they want to allow that To your grid as well. This won't be on a third grid basis. We'll basically have a white list of Secure grids and the merchants will be able to say I want to allow No expert to other secure grids on as well or not And if they allow them then any no expert items that they have will be exportable to your grid as well if you're on that like this Okay, well all users move to kitey because kitey gives cheap plan. Well to answer that we've been out selling cheap plans since 2011 and other riddles continue to prosper um And people like the communities and some people don't want always on the people's story two months always on and we're non-demand And so your users are not just going to come up and leave because there's a marketplace out there Uh, they're already a marketplace out there They're gonna have to leave because there's shopping this we got out there if you're hyper grid enables They're already traveling the other hyper grid shopping grid. They're gonna stay your users because you offer them something that they don't get And kitey and We as you know, a lot of people say there's no another community. Well, we do have a small community But we're not we're not that we don't have a landmass. We have more than 4400 regions but there's in separate islands and so If we have our uses, but it's not for everyone and so not everyone is going to go to kitey Okay, um The keeps the market well then to the question. Well, okay, so great, but uh, We don't want to in our grid keeps the market basically only Well, that wouldn't provide the benefits or unified market The more more to inspire is money activity and interest for everyone Remember we did this because we wanted to grow the market So this would become a field that grows quickly it needs to have money coming in This can't happen if we say stay separated and there was no big single ecosystem to serve Okay, so why didn't you reach out to grid owners? We've been openly discussing our plans on our blog and the hyper grid business on other people's Blogs have been written about it and we've been involved in the community in the science And the design decision since January 2013 Now we thought that the benefits of a unified market were so self-evident and discussing our plans in open is the greatest form of Consparency, we don't do back Backroom deals with anyone we discuss it out in the open anyone to give big back a lot of people did give big back We were counting the people who previously created alternative to secondly marketplace that only were quite a successful at their time We talked to big merchants Anyone who wanted to talk to us we've talked to We've broadcast our our plans for almost a year now And we went forward sorry for nine months now And we're not closing the door on anyone if you want to talk to us by all means Please talk to us. We'll be happy to to address your concern And if there are things you think we should we should improve or change Or add then please let us know because this is not just to serve our needs This is to grow the entire ecosystem. This is not going to happen unless we all join Join together to create a single ecosystem Okay, so this is just the last one before we get to my last slide. So okay, so who died and make you king This marketplace shouldn't be owned by any one company Well, we're first off. We're we're tightly marketed sphere. We'll deliver to any grid that doesn't block us And second, there are other multi-grid marketplaces out there. There's open to creation open seamless city hybrid exchange karyama existed there We're not blocking anyone from doing the same if you want to build something competing go ahead You know, so it's already competition out there um, the thing is that In order if there's two ways of having a monopoly Either you're the only one out there, which we're not Or your control on transactions, which uh, I would like to change that a lot of transactions go through us But I think you will all agree that even second life market is not nothing Only goes through one marketplace So That's our question to that. No one chose us. We said it's on me. We addressed it if you think you can do Go ahead Okay, so that's coming soon and then I get to the questions Delivered to have a good connected bridge. That's pretty good. I've talked about a lot advanced discount system This is like steam for those of you use steam or you can have various sales And other things that will allow you to basically increase sales Uh, and we want to make this the best virtual marketplace out there So open sim will have the best virtual world Uh ecosystem and we'll be able to draw serious money. Um, we have one to add a contest system Um, as there's already contest in some of my marketplaces But we have our a few interesting ideas how to innovate in that area as well And we want to add business intelligence tools so merchants will be able to understand What their players want what they're currently buying What's fail what's working in their own stores and in general in kaiken market Okay, and with that I don't get to this. Uh, we're in the questions Oh Okay, ilan, we're we're kind of running late. Uh, we're past the end point of this this topic So i'm just going to ask a couple of quick questions that you didn't address The big one that that was a cover your presentation that people were asking Was what percentage commission does kithy take on sales? Okay, there are uh two types of sales there are sales in kithy credits, which don't really interest most of you I guess but i'm those kithy takes 10 percent commission and there's uh Remember this is a non This is can only be used basically to bind things inside of kithy and to for acting kithy for some services And for us dollars, um transactions. We take 20 percent Then we transfer the money to you and paypal might take whatever people takes. Um, what's the question? We have a minimum Payment amount of $10 so So, uh, you're not going to be nickel and diamond by paypal It will aggregate them and then transfer it to you when it's more substantial To pass those 10 dollars. We had a lot of discussion with our cutting management group about what level to set this The reason we added 20 percent, uh, if you do the math in second like Marketplace, you can see that it's there if you do the exchange fees exchange rate for both the buyer and the seller and the marketplace transactions and the Checkout fees and you do all the collection together. You get to that 20 percent. You can do the math later Especially if they're buying directing US dollars, which is what we allow people buy if you want to get dollars out they buy with dollars and with dollars they have additional They give you about not as well The exchange rate you get for dollars to lend the dollars is it's lower than what you can buy them separately and so forth So, uh, 20 percent is actually on the low end for most marketplaces outside of the open sim second life Echo spirit if you look at the Cloud party takes 20 percent most, uh, if you look at the Turbo squid they take 40 to 60 percent at 20 to 60 percent So, uh, and the various app stores take 40 percent usually Okay, and one last question um The take the take back feature when you take content back from buyers Um, is that going to work across the hyper grid and with other grids too? And how would that work? It in science faculty it works because we have, uh, we we tightly market in one of the One of the question I was asked about identity Between everything we have logs coming from out of wazoo um And so, uh, we are able to we actually add metadata And we'll be able to eventually actually other upgrade content in your inventory and even content already involved But delivery to other systems. Um, initially when it's just via hyper grid Uh, we won't be able to claw by content. Obviously We don't control other But we may eventually develop a system that will allow them to run a component Which will allow our system to interact with them. So if they want this ability to be under good as well They'll be able to have access to it as well Okay Ilan, I want to thank you very much for taking the time to talk to everybody here Um, if if you don't mind, can you give an email address where people can contact you with follow-up questions? I have to go to another session to moderate about the future of the hyper grid And um, I there's your email address. I just typed my email address into chat if anybody wants to ask me follow-up questions Ilan's email address is right up there. Um, you guys can stick around. Um, but Um, I have to run. Thank you so much. Thank you everybody for coming Thank you avacon for organizing this and thank you ilan for taking so much time to explain this in such depth Thank you very much My pleasure and if anyone has any questions by all means do contact me buy an email buy our phones Or and using any other uh, means I'm uh, you can even Private message Um Okay, I'm seeing messages from multiple people. Let me try to scan the questions now. Uh, if other people are still here Uh, okay, I see there's a lot. I'm getting uh, thank you Can I continue talking or say you need do need to close this team? Your question wasn't answered yet. Could you please re type it into this? Uh, the chat now because right now I'm finally viewing it copy pasted or Uh, just no not into skype. You can you can just into local chat anyone Oh, if people asked about if you don't want to ask for a new version to the Of your product you don't have to offer a new version option for you the merchant You can deliver a new product version, but it's you do not force to Well, because we we have kites. That's our business entity where you know, we're not We don't have deep pockets to run multiple things our system allows us to start of sandboxes Um on basically on demand when needed and do that in an economic way So merchants will be able to upload content. Uh, and it made sense to do it that way I don't see separating the grids as any issue I'm sorry. Yeah, thank you. Are you there? I mean other The question was if it's the goal is to make it a market for low grids, uh, not by storage Skype Lee why not have chosen to use skype Lee as a grid for creating the content and not just keep other content creation To separate it on its own content creation world for selling them on multiple grids people can upload into if can create another grid and upload into the Free access sandbox and just use that they never have to travel Kite Lee's and I don't have to use kite. They just need to get it into kite. Um Currently, we don't allow enable iar uploads. So, uh, there's the only way via via viewer But eventually if we allow that you'll just upload iar and so it's uh, you won't even have to go in world ever Uh to to to upload your content into the car market once um Okay, are there other questions? I did not answer. So please do copy paste them into the chat Yeah, I didn't see the question was I didn't we see it as a competitive advantage? Uh, no It's uh, our goal was to build the marketplace. We think the marketplace is a viable business all by its own Uh, we leveraged kite Lee because it existed and allowed us to offer various things For free that we couldn't otherwise, but it's uh, we're not charging people to access the sandboxes They don't have to get anything from on kite. They don't have to buy our credits Just allow us to leverage, uh the technology that we had um People yeah people can upload Well to to get if they can upload content via or file into a world Yes, they could do it via or um You can upload content into kite Lee when you create a new world you have free world So you can easily upload an or into your world. Um But then it's not in your inventory the market uh takes content from your inventory So you'd have to go in the world and you can do that There's a two three hours a month that you get with the free plan on kite Lee So you can upload or uh resin world take it into your inventory and disconnect and then it's Basically, you upload it via or took it into your inventory and kite Lee and then Use the kite Lee market interface to upload that into your um product systems Okay, so I think that is just the reason most are opposed because it seems like you said think Your king just because you guys decided to use your own grid uh Okay, um We as I explained We opened A service that was not available and that requires resources to run um We're not aware of other grids provide unlimited Resource that we can leverage to build the missing components that are part of the uploads and testing procedure Um, and those that is something that we added We don't force anyone to use kite Lee to do this. They don't have to be a type of users. They don't have to pay us um So the only thing is like going into second life into a sandbox and using that to upload content that you sell into second life marketplace Is that a competitive advantage for second life? It's uh, it's uh I don't see it as that selling them more land Okay, you said no, I am agreeing with you Okay, other questions I'm just saying it is a reason people might act opposed because it seems that way But you guys never saw that because it just happened to be that way. Yes, that's exactly true It's uh, it's not our goal to leverage this for competitive advantage. We're completely fine. It's uh, All the the grid's users stay on those grids and just use kite Lee market We're we're completely happy with that It would be good for both the grids themselves. They get more revenue that they didn't get otherwise And it will be good for for kite Lee. We get the marketplace revenue and everyone profits We don't need to get the land revenue come from ranking regions. It's uh It's a separate business and their Existence that doesn't rely on It's simply that we leverage whatever we could to create them And cut the market as it is it was took extremely a lot of resources to build As you know, uh, our purpose is extremely talented and he's been working on this for nine months and this is If you loved we built a nine minutes on basically, uh, which is quite it's quite an undertaking And uh, it's uh, it behaves well. We tested it with uh a lot under a lot of load It's it's it's a it's a big technological endeavor to do So we had to leverage whatever was under whatever we could to to get it done as quickly as possible Um, he says, um, my only worry is about the taking back features that you guys would need database access to great to share with Um Well, currently it's currently it's just it doesn't exist on copy as well We store the data that we we can use to do that eventually Right now the only thing is we prevent we prevent that data from being exportable So if we it's a if you're a merchant, uh, if there's um a charge back Or some dispute and then we have to not deliver the money to the merchant because it's still on the 45 Didn't they dispute a window then we block the content from leaving country make it no export So it doesn't matter if it's an inventory or a rest or some given to other person It's it's going to remain no export. So that's the only thing that's currently implemented But this data will allow us eventually to provide this take back functionality inside of kitely um, and it's We're not it's something like exactly like hyper good access It's if we develop a mechanism that you can install on your end on your own grid It will be something that you would like to do It won't be something that's required and merchants will just know What then they'll have whether? They require or not allow the the existence of this plugin in order to consider it with to be secure or not um That will be just one of their options It's like think it's it's up to the merchants where they want to sell As we said, we can't force them to sell in other places But if they will offer we're trying to make it so that we'll offer other grids whatever Benefits we can export from our own technology. So they'll be able to run them in our own their own grids Um, and they'll decide whether they want to install them or not We can't force merchants. We can't force grid owners. We can just get options But I should just already on said critics it is stuck there. You're right now. Yeah, it's stuck there It's um, you know, we don't have any access to them. Hypergrid delivery means delivery doesn't mean we have access to you to your database um We consider doing a module. Uh, he asked perhaps you guys could do like hypergrid extension to a model but a model requires um Requires everyone to install something and that we felt were required a lot more Trust with other grid owners. It would create a lot of hurdles We wanted something that sound let's say someone a school Uh started someone would sit on a stick Just to install it at home and wants to get content and that's an easy sell for merchants This is someone new to open sim. We wanted that person to be able to just run seminar stick or inside their sir Their grid that might be behind a fire on might have issues be funding some uh company's module we wanted them to be able to just Use hypergrid access which is something that it can easily configure using use gui tools that provided with various Sim distribution And basically do that without making it removing as many hurdles as possible So a model could work But it would create a lot more barriers to adoption and we felt that if we want to create the big It's the biggest marketplace we can The biggest market we can is that we need to be able to give anyone access to this and hypergrid allows us to do that additional question All right, then in that respect many find even new world studio complicated Exactly it's we we wanted to make it Easy for people to buy content So merchants will have an easy time to sell content and then money will get into the system Investors will invest and this entire uh ecosystem will will grow and will have much more viable grids becoming Attainable because right now we're basically fighting over the few Grids are fighting on users between Themselves and we make open sim a big single ecosystem Then you have merchants coming in your content creators You have Users coming in and the entire you know rising tide raises all boats That's a goal to help everyone grow. So this is going to be a much not a pawn, but a seat And about an ocean additional questions And thank you sound sounding Jerry indeed a lot of innovative thinking here and working code is defective. Thank you selling Uh, Timothy continues. I think the only grid that that's fight for users are closed grids Hypergrid is just find your home visit all Um, I tend to agree, uh, but I we want to be able to service anyone. I think a lot of clothes grids have If you look at the turtle side of the open sim, uh, there are quite a few people still in closed grids And we want to be able to allow merchants to sell them as well And basically join forces with those grids to make the ecosystem bigger So it's we're not this open sim or hyper good enabled universe and the closed grids We want to all of us to be kind of together one addressable market And uh, close grids can remain closed. So they just have to be free the an exception for a county market delivery mechanism And but if we closed all we connect all of us together then we we're a much more interesting Um much more interesting for for everyone for users for for merchants for investors for businesses And this becomes viable and we're all investing so much time on on on our grids As users as merchants as businesses that we shouldn't fight amongst each other. We should join forces and move forward He says and I think that is a wonderful lady. Thank you, Timothy In a very convincing proof is a hard part. I agree. That's why I spent a lot of time basically addressing various issues that have raised I since this has been streamed in our our Slides will uh, we'll go up on the web. I haven't uploaded them yet, but they will they'll go up on the web as well So hopefully some people will be able to move past the Uh three are uncertainty and disinformation and and get part and get to the part where where it's actually good for everyone and uh Some will get it. Someone not hopefully enough will that that you can start creating momentum and and we we're all benefit from it Okay, any other questions Okay, I'm not hearing any typing. So uh, I'll guess we'll wrap it up for tonight Is there someone typing? You still plan on after the disabled use of effects? It is really slowed down on problem. Oh, uh, yeah, we do He previously asked about us that disabling the various animations um That we we like but there are Problematics that people with older viewers or older computers Older browsers or in our computers who are people with uh disabilities And so yes, we do intend to to add that feature to be in the setting staff We're in setting stage where you'll be able to disable the animations Okay, so that was uh the last one Okay, so, uh, I guess we're wrapped up for tonight and again, please do contact me if you have any questions doubts concerns ideas She just want to ask about the weather My name is Ilan Tashner Email ilam at kightly.com k i t m y dot com And that's a wrap up