We hope this letter finds you well. We sincerely invite you to participate in our V2 NFT airdrop at 10AM GMT-5, April 4th, 2022 and the web3 social product beta test afterwards.

We kindly ask you to check your eligibility.

1. If you are in our NFT holder list and didn't activate the refund smart contract, you can get the V2 NFT airdroppped to your wallet automatically.

2. If you are in our Whitelist, you can go to our website on April 4th at 10AM GMT-5, to claim the V2 NFT.

Both ways are free, except for the gas fee required by the network. Holders of Atem Network V2 NFT have the chance to try our web3 social product.

We will offer great rewards to those who have completed the product beta test to express our gratitude. It is also a great chance to witness the birth of a unique, innovative and cutting edge social chat and trade tool in the industry and contribute your brilliant ideas. Details of the beta test will be released later.

Welcome to join our Discord channel and follow us on Twitter for the most timely updates.

Thank you. Atem Network

As most of you are aware, Atem is not an NFT project. We are building a Decentralized Community and Social Trading Platform in Web3 Group Spaces. This is achieved using our product's seamless chat and trade tool known as AtemChat. As the beta launch date and time approached, all of our high end and top tier developers were working on the AtemChat platform to give you the best possible experience, all while a junior developer was working on the smart contract for the NFTs. This was a severe oversight on our part and we take full responsibility. Our internal performance checks have become a lot stricter to minimize and mitigate any future errors.

We took notice of all the suggestions made on Discord and Twitter and we're offering two choices for loyal users that are still holding an Atem NFT Passport as of Mar 17, 6:30AM GMT-5 to select between option 1 or option 2.

1. Atem will automatically airdrop the Version 2 Atem NFT Passport (same design & rarity) once ready with a safe and secure smart contract for those users who hold the Atem NFT as of Mar 17, 6:30AM GMT-5. We are targeting to directly airdrop to the Atem NFT holder wallet address by Apr 4th.

2. Users can choose not to join the Version 2 airdrop and have their gas fee refunded by burning the free mint Atem NFTs.Users will need to complete this form to submit the free mint address and free mint transaction hash by Sunday, Mar 20th 11:59pm GMT-5. Responses not received by this deadline will result in Atem still sending a Verson2 NFT Passport to the wallet address based on the on-chain data as of Mar 17, 6:30AM GMT-5. Burning instructions and refund process to be communicated by Mar 25 and we are targeting all gas fee refunds as soon as possible.

A list of Atem NFT passport holders as of Mar 17, 6:30AM GMT-5 can be found here.

We would like to again clarify our confidence in our product and our developers have our full support. We hope that our community will see the distinct separation between the NFT launch and our actual end product: AtemChat. We are highly disappointed that our beta product was unable to be available to the public yesterday as you would have seen the incredible hard work and effort our team has put in to this project. We are deeply committed to earning back your trust and we thank those of you who are still showing us support during this difficult time.

We would like to sincerely apologize for the errors that were made yesterday on what was supposed to be the day of our product's beta launch. We decided early on that we would like to reward our early community members and beta product users with a free NFT passport. This was originally designed to be the utility of our product and not for financial gain. 4,500 were allocated to the public and 500 for whitelist spots. Unfortunately things did not plan out like we had hoped for. We were not as focused on the code for the launching of our NFT. We have now learnt we should have paid more attention. And we are taking full financial responsibility for the damage that has impacted our trusted community and we have examined contract to make sure user assets are at zero risk.

What Happened?

Once deployed we became aware of an error in our source code that allowed the contract to be essentially transfered to anyone, thus rendering our NFTs useless. Our contract was hijacked and our images were changed, the tokenURI for the picture was changed and our reputation took a deserved big blow. Not making sure our NFT's smart contract is completely secure is an oversight that we regret tremendously but will not shy away from. We hired a junior developer to take charge of this NFT contract, and missed our responsibility to review it. It is a mistake we will not make again.

What damage has done to users?

A. Wasted money paying gas fees to mint NFTs that essentially are useless across the 5000 NFT Passports. Also we are aware of some users who paid gas fees and didn't receive any NFT and will follow up on this based on the on-chain data.

B. The trust in our company from our users is damaged and we acknowledge that. We hope that despite causing our own FUD for our own project that you will see our sincerity. The mint was free and we never planned on making any money from this and despite the cost of gas (which will be reimbursed) we haven't rug pulled anyone and maintain that stance.

C. We also understand that we wasted people's time. We can imagine the frustration, spending the whole day in anticipation of the launch, with many members of our community making an effort to spread the word and make an effort to secure one of our NFTs. We are sorry for wasting your time and your trust.

How we will compensate and what is next?

As mentioned above, we plan to fully reimburse all our users who paid gas for an NFT. Since we offered a free mint project, we're offering two choices for users that minted to select between: First, users can choose to have their gas fee refunded and burn their original NFTs; Or second, we will directly airdrop our Version 2 Atem NFT with a secured smart contract to those users who minted originally. Wallet addresses and gas fee amount information can be tracked from on-chain data which anyone can confirm and double check and trace as well. Detailed compensation process submission to be updated.

How to mitigate this in the future?

Going forward, we believe a huge lesson has been learned and everything we do will be checked by a credible third party that will review and audit our code and every other endeavour we embrace. This will not only help us but also it will help the community as well by making sure stricter rules and measures are taken internally before releasing anything and as such we hope this will minimize any manual errors.

We know we will lose some of our followers but for those that stick around thank you and once again we are sorry for any and all inconvenience caused. We hold our hands up and accept all criticism for a mistake that could have been avoided. This is a long road that we hope you will travel with us on together with your continuous support.

Yours Sincerely

Team Atem.

For those who do not know Atem Network quite well, we are a web3 startup based in Singapore focusing on multi-chain web3 social protocol. We aim to build a platform on which group spaces can be initiated based on tokens and NFTs (both classified as crypto assets) allowing users to chat, trade and govern. This will create a community exclusively for crypto and NFT owners with strong mutual interests. Additionally, we are working on sketching a user portrait layer based on on-chain data to serve different Dapp developers, including group spaces and channel recommendations. Unlike web2, all values created in this web3 community will be given back to the community members as rewards. Atem's long-term goal is to make full use of on-chain data to serve different Dapp developers and become the go-to one stop solution for the social infrastructure of web3.

Our founding team consists of young professionals with experience across top tier tech firms, investment banks and venture capital. Atem’s CEO Leo Li is a Tsinghua University alumnus. He worked as a product manager at TikTok and a venture capitalist at INCE Capital before he became an entrepreneur in web3. Eric Chan, COO of the project, former Head of Growth Product at Bybit, has 12 years of experience in finance, technology and crypto exchange sectors and served companies including Meta, TikTok, J.P.Morgan and HSBC.

Briefing on a few future development Atem: We are currently developing our chat tool product which aims for beta release in mid-March, 2022. Atem Network will be offering its very first 5,000 limited edition NFT passports to the crypto and NFT communities. You are more than welcome to claim the free NFT passport and get first-hand experience on the Atem platform and additional future rewards. More information can be found on Atem's page.

We are at the brink of massive changes brought about by Web3 which will undoubtedly become a part of our daily lives in the future. It's our great honor to have the support from the community and participate in this epic trend. We will keep on building great products for the community, and focus on how to better serve community and social trades. WAGMI!

Social Links

Twitter: https://twitter.com/atem_network

LinkedIn: https://www.linkedin.com/company/atemnetwork

Discord: https://discord.gg/vdRGVpF7

In ATEM, group spaces are formed based on mutual tokens or NFTs that are owned by individuals. Social networking and crypto trading are combined seamlessly in a “one stop shop” platform. All spaces and channels will be under DAO governance, which means users co-decide rules of the communities. Data is stored in a decentralized way with end-to-end encryption, which guarantees complete anonymity, thus users are in control of their data, identity and governance.

ATEM Network aims to build a decentralized social graph in a Web3 chatbox. The social graph is a graph that represents social relations between entities. It can also be referred to as "the global mapping of everybody and how they're related". Under the context of web3.0, ATEM is able to merge social graphs on different platforms, including social media, games and even Dapps.

Our short-term goal is to build a user-owned group space based on tokens and NFTs, users can chat, trade and govern in the group space. Our long-term mission is to build personal and group social graphs and become the go-to one stop solution for the social infrastructure of Web3.

Web3 and Web3 Social Network

Web3 is the decentralized web where blockchain technology is the foundation protocol where users are in control of their data and identity. Web3 will support p2p communications and transactions that will eliminate the need of a centralized web 2.0 major search engine or social media to transact or communicate. Cryptocurrencies, NFTs and other digital assets are some examples of blockchain p2p transactionA social network where the users are in control of their own data and identity instead of the other way around which is what we currently have available to us. Right now major social networks are centralized and control users’ data. A Web3 social network is a disruption to the current status quo of social networking as we know it bringing the power back to the user and letting the user own and dictate what will be stored online.

Key Features of ATEM

1. Tokens/NFT Group space: Group spaces are formed based on mutual tokens or NFTs that are owned by individuals.

2. Chat and Social Trades: Bridge social network with crypto trading seamlessly on a “one stop shop” platform.

3. User-owned community: All spaces and channels are under DAO governance.

4. Data security: Decentralized data storage, complete anonymity with secured end-to-end encryption.

Seamless and Secured Tool to Chat & Trade

Currently in the crypto world, people chat in Telegram or Discord and trade in CEXs or DEXs. Sharing and trade, the two main parts of crypto daily life, are separated, creating problems.

• Inconvenience: Traders have to quit chat tools and log onto trade platforms to trade. It is hard to have seamless interactions. Even so, there’s little space for bargain/negotiation.

• Lack of credibility check: scammers, people with bad intentions, who do not own the token or NFT can deliberately spread false news to manipulate market sentiment in the group.

With ATEM as a solution, users can not only chat to each other like in traditional chatrooms, but send tokens and NFTs as well. ATEM’s one-stop solution allows users to trade tokens and NFTs seamlessly in one place without the need to leave the chat room and log onto another exchange platform to perform the transaction.

Trade prices are offered by a tier-1 swap on each chain. All transactions are done through API and executed by smart contracts, offering a smooth user experience.

Besides peer-to-peer chat, ATEM can also group users automatically into communities based on tokens or NFTs they own. Users will also be able to create channels by themselves. This can help rule out the ones who do not own the specific token or NFT, which in turn helps seed out scammers or people trying to manipulate the market. Only holders have the right to join and speak up in the community.

User-Owned Community

All spaces and groups on ATEM are created based on the tokens or NFTs users own. This can help rule out the ones who do not own the specific token or NFT (scammers). Only holders have the right to join and speak up in the community. User-created groups can be searched and recommended to other space members.

As incentives, tokens will be sent automatically to every group’s treasury every week based on the activity level of the group chat. Group treasury is distributed among group members based on distribution rules displayed to all group members under a DAO governance.

Under DAO governance, ATEM allows members to decide on a group or space name, colors, logo and mute rules. Communities can even create their decentralized NFTs or emojis which can be used across Dapps.

Inner value of Web3

In Web 2.0 social networks, users' contributions to the platform, including posts, comments, likes, etc. are properties of the platform. The value they hold does not belong to the users but to the platform and can be deleted by the platform single-handedly. The users’ content is also not owned by the user but instead by the platform. Social networks are closed sourced which means we as the public and users do not have a say as to what the social network does with our data.

In Web3, by sending a message to an ENS/wallet address and getting a reply, an on-chain personal social graph is established. By joining a group and starting interactions with other users in the group, a group social graph can be built. All information, connections and interactions will be stored on the blockchain, and most importantly, encrypted for user privacy.

The social graphs will be open for integration with different Dapps. The benefits and value of this is that conversations as well as transactions are made seamlessly without the need to log out of one network and log onto another. By having one place where a user can chat/transact with friends and peers provides convenience and saves time, users will also be in control of their own data, identity and governance.