What is SAVG? All You Need to Know About Savage Studio

The Savage platform is an NFT ecosystem designed to fit the needs of photographers and Video producers. The Savage NFT platform is built on Polygon’s proof of stake protocol to be a carbon-neutral project that requires

The platform allows already-established artists to show their work and for new creators to get their first big break. It will enable them to showcase their work and earn a generous payout while paying low fees.

The Savage platform provides a user-friendly Interface by making it easier to transact using fiat currencies alongside its native token, SAVG. It provides an NFT marketplace, brand shops, SAVG discounts, and an environmentally friendly infrastructure for conscious creators.

The platform uses the microservice infrastructure, OpenZeppelin smart contract, and other tech Integrations to build the current NFT marketplace. Soon, features like staking and liquidity pools will be integrated for SAVG holders.

History of the Savage Project

Sources: Savage Whitepaper

The Savage platform was launched at the end of 2021, with the initial DEX offering (IDO) in January. The project participated in the FantomStarter launchpad on January 17, 2022, and the OccamFi launchpad on the 19th.

By the middle of 2022, the project integrated the most popular video platforms, YouTube and Instagram, through API integration. It launched its music and brand marketplace and started developing the platform’s staking and liquidity mining features.

By 2023, Savage integrated an EVM-compatible bridge, allowing its users to utilize its interoperable cross-chain marketplace. In 2024, the project aims to launch its decentralized autonomous organization (DAO) testnet, which will last a year before the fully developed DAO infrastructure is integrated into the project by the end of the year.

The goal is to transition to a DAO and let SAVG token holders control the platform’s future. Alongside that, the platform aims to fully launch its staking and liquidity mining functionalities, adding more utility to Savage users.

The Team

Sources: CryptoTotem Website

The team developing the Savage project is made up of Luke Neumann, the Chief Executive Officer (CEO) of Savage and founder of Overlai, which is an app for creators that protects their photos and content from AI.

The next is Benjamin Weintraub, the Chief Financial Officer (CFO), responsible for liquidity management, financial strategies, business management, revenue research, strategic analysis, and legal strategy.

And finally, Jesse Roos, the Chief Marketing Officer (CMO), is passionate about building great relationships and facilitating effective communication among stakeholders, users, and participants of the Savage ecosystem.

Core components

Microservices

The Savage platform is built with a microservice architecture that includes the API service, payment processor, and data publisher.

The API service allows the platform to integrate other platforms and interfaces, allowing users to interact seamlessly. The payment processor is built with a modular approach, combining other payment processors to enable the interaction of currencies aside from cryptocurrencies. The processor is also responsible for accepting payment.

The data publisher handles the communication between the blockchain and the IPFS network, sending data back and forth. The value of the microservice architecture, as opposed to the monolith architecture, is scalability, flexibility, and maintainability. The architecture allows the Savage platform to use as little energy and resources as possible at all operation times, expanding and collapsing based on demand.

OpenZeppelin ERC-721 Contract

OpenZeppelin ERC-721 Contract is a pre-built smart contract template for EVM-compatible chains like Polygon that defines the core functionalities and specifications for creating and managing non-fungible tokens (NFTs).

These contracts undergo rigorous testing and auditing to minimize the potential risks and vulnerabilities, allowing developers to deploy efficient projects.

The OpenZeppelin ERC-721 Contract provides such benefits as interoperability, customizability, and security. The contracts can seamlessly interact with other ERC-721 compatible platforms and applications, allowing it to execute events.

Due to the rigorous audits and testing, applications like Savage, built on OpenZeppelin contracts, attain security benefits while being customizable. This allows creators to add core and utility features to their NFT projects launched on the Savage platform.

Tech Stack/Integrations

The tech stack of the Savage project includes the InterPlanetary File System (IPFS), the Content Delivery Network (CDN) provider, and Payment providers.

The InterPlanetary File System is a decentralized, collaborative file-sharing network for storing, sharing, and accessing files. The system relies on cryptographic hash content addresses to tag files without disclosing the name or location of the file, allowing for privacy in the decentralized space.

The Savage platform is built to utilize IPFS to store and process data on nodes in the IPFS network. It uses the AWS S3 with the AWS CloudFront as a CDN provider to deliver assets for users to work with. The project also uses providers like Infura, Pinata.cloud, BitPay, and Stripe to fully function, from the payment stage to the contract execution and content-delivering stage.

Features of the Savage ecosystem: NFT Marketplace and Savage Shop

NFT Marketplace

Sources: Savage Website

As an ecosystem focused on videographers and photographers, the Savage NFT marketplace allows users to upload video NFT collections for others to browse, buy, and resell these collections. These collections range from drone shots, original RAW images, or 4K/8K ProRes videos, with a size limit of 2GB.

This allows creators to display their collections at the highest possible quality. The platform also allows them to decide the type of ownership or rights the creator has over each asset, scaling from free to exclusive licenses.

Users can purchase NFTs using the SAVG token or traditional fiat currency, making it accessible to a broader audience. If users aim to purchase using the SAVG token, they are entitled to a discount on purchases. Users can also use the SAVG token to post ads, which would be given added exposure using the “front-page” feature of the platform.

To ensure security, sellers and users are expected to verify their identity before conducting transactions on the blockchain, mitigating the activities of bad actors in the space. Finally, the proceeds from each transaction are split between the creator (98%) and the Savage platform (2%).

Savage Shop

Sources: Savage Website

The Savage shop provides freebies and tutorials related to the Savage brand. This is done using Cinematic LUTs, which is short for Look Up Tables. LUTs are tools used in video production that pre-set the color, gradient, style, and footage to achieve a specific cinematic aesthetic.

They modify aspects such as color balance, contrast, saturation, and adjustments, targeting specific color ranges for modification. One benefit of LUTS is the ability to achieve consistency across multiple video clips and shots based on the creator’s intentions.

They also allow users of the Savage platform to save more time than manually editing and color grading each clip.

What is the SAVG Token?

Sources: Savage Whitepaper

The SAVG token is the native token of the Savage platform used to purchase NFTs, trade, stake, and participate in governance activities. The token is an EVM-compatible token built on Polygon with a total supply of 1 billion SAVG tokens and a circulating supply of around 55 million tokens.

The SAVG token rewards creators who participate in video NFT creation and sale, liquidity mining, LM rewards, and token holders who are entitled to discounts.

The token distribution allocated 24% of the total distribution to develop the ecosystem, 10% for private sales, and around 16% for marketing activities and the team advisor, respectively. 2.2% is allocated to liquidity, 5% to seed, and 23% is reserved to incentivize the community.

Risk Analysis

Advantages

Unlike most NFT projects and marketplaces, the savage project is one of the few distinguishing itself by focusing on Video NFTs instead of Images. The platform also caters to the needs of established creators and aspiring artists, giving them the tools to showcase their abilities.

The project allows users to conduct transactions with fiat currencies, which makes onboarding easier for users who are not experienced in crypto transactions. As an eco-friendly project, the Savage platform requires only a fraction of the energy used by other projects to run efficiently, making it appealing to environmentally-conscious creators.

Disadvantages

As a relatively new project, its ability to weather the volatility of the crypto space is unproven, making the SAVG token unappealing to very conservative investors. The newness also affects its functionality as some of the platform’s sections are still under development.

While the video NFT idea is under-explored, the success of the Savage project would rely heavily on the volatility of the NFT market.

Challenges

One of the project’s challenges is amassing and retaining creators and users while maintaining trust and security. Another challenge is the volatility of the crypto space, the NFT market, and the regulatory uncertainty surrounding cryptocurrencies.

While utilizing the Polygon blockchain, Savage can still face criticism for its environmental impact, requiring them to pursue solutions and improve their sustainability efforts continuously.

Competitive Analysis

The Savage platform is focused on video NFTs, similar to the Foundation platform, which focuses specifically on curated NFTs.

While they are both novel concepts, the Savage platform is more established than the Foundation platform. It has more functionalities, a larger user base, and a broader commitment to established and aspiring video creators.

This is because Foundaton’s design limits the number of users, who must be picked explicitly by specific members of the Foundation project to participate. Savage, on the other hand, is open to all users and has a lower charge of 2% per transaction than Foundation, which charges 15% per transaction.

While Foundation is focused on being an exclusive NFT club for trendsetters in the art world, the Savage project is attempting to be inclusive, allowing even web2 users to onboard using fiat currencies for transactions.

Is the SAVG Token a Good Investment?

The SAVG token allows users to take control of their video creations and get paid appropriately for the content they create. As the native token of the Savage ecosystem, all transactions and future developments would directly benefit the holders of the SAVG token.

When the DAO features are fully operational, SAVG holders can decide the project’s future by voting for proposals and sharing their thoughts. They could also earn passively from staking, liquidity mining, and discount opportunities.

How Can You Own SAVG?

To own SAVG tokens and become a part of the Savage ecosystem, users can follow a simple process:

Setup a Wallet

One way to own SAVG tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the SAVG Tokens

Once users have acquired SAVG tokens, they can explore the Savage ecosystem by partaking in minting NFTs, staking, liquidity mining, and governance to earn passive rewards.

Take Action on Savage

Users can trade the SAVG token here.