Yes, NBT marketplace (beta) is LIVE.
It’s been few weeks since we gave update to #NanoByteSquad. Today we want to announce that NBT marketplace (beta) is now LIVE. You can access it on exchange.nanobyte.finance. It’s purely decentralized, so you can only use it with your NBT on crypto wallet (Metamask, Trust Wallet, etc)
The background
Pre-paid digital assets are huge business in Indonesia. Unlike developed market where most digital assets are done through post-paid model (you use service like Netflix or internet first, pay it after using credit card), in Indonesia most items are purchased using pre-paid arrangement (you buy the voucher / token first, use it after you pay). Pre-paid is often overlooked in developed market, but in Indonesia where credit card penetration is below 5%, pre-paid is still a king.
The most important pre-paid products in Indonesia are Telco balance (pulsa), data package balance, and electricity. Telco and data package contributes to approximately $5-6 Billion sales every year, while pre-paid electricity contributes to $6-8 Billion sales every year. In total, just from these three products, we are covering a market with $11-15 Billion in sales every year.
The NBT marketplace
To capture this market opportunity, we create exchange.nanobyte.finance to allow NBT holders to swap their NBT to get pre-paid digital assets. Some of the features are below
· Pre-paid digital assets can be purchased using NBT on your crypto wallet through our dapp (decentralized app) exchange.nanobyte.finance
· The price of all pre-paid digital assets are set on daily basis, and during early launch period, the price is set at 30% discount vs. market value
· It means that if you want to purchase telco balance worth IDR 100,000, you will end up paying around IDR 70,000 (using NBT)
· The sales starts every day at 7am GMT+7 (WIB) until daily max limit is reached (yes we still have cap of max sales every day and we will continuously increase the limit as we get more users and demand)
Figure 1. NBT marketplace (beta)
For those of you who wants to understand more how to use the product, please watch the video below.
Video 1. How to use NBT marketplace
The testing
We have actually released the dapp (decentralized app) last week, with our internal team and Nano Army as tester. So far, we have received great response with this product and we always sold out every day. We can also confirm that we have no major bugs during the testing, thus we can now open it to everyone.
Scale up of NBT marketplace
We understand that with only these 3 products, we are unlocking more than $10 Billion opportunities, but this is just the beginning to create more utilities for NBT. We have currently secured partnership to allow purchase of startup voucher (including e-commerce and ride hailing) and digital gold voucher using NBT. We believe that bull or bear market, we continue to build and to deliver use cases and utilities of NBT.
That’s it for now. We hope that despite recent crypto market crash, we continue to deliver to our supporters. We can proudly say that NBT is not just a speculative asset class, but a strong project with lots of use cases.
Cheers,
Tommy, on behalf of Nano team